In a last-ditch bid, Labor is also urging voters to number every box when they vote on Saturday and put the Coalition last, in the hope that a handful of key seats can be won through a strong preference flow to Labor from minor parties.

During the whirlwind, penultimate day of his campaign on Thursday, Mr Baird was determined to stay on-message, holding a press conference beside the M4 at Homebush to spruik the big-ticket road and rail projects that would flow from his plan to part-lease NSW's electricity poles and wires.

But he fielded a barrage of questions over overseas interest in the state's electricity network, following reports that Chinese government-owned energy company and potential lessee, State Grid Corp, was the subject of corruption allegations.

It has also emerged that in February, the Philippines government reportedly announced it would expel 16 Chinese State Grid workers from that country due to security issues.

Mr Baird said he was not concerned by that report. He did not rule out a deal involving State Grid Corp if his government is returned to power on Saturday, but said there were "protections in place" to safeguard the interests of NSW should an overseas investor part-lease the assets.

"We are the ones that are in control of the process. I have undertaken transactions like this before. We control the bidders … we control the terms," Mr Baird said.

He derided Labor's "dishonest scare campaign" over potential foreign investment as "almost beyond belief".

Labor leader Luke Foley on Thursday compared the risk of leasing the electricity network to a foreign country to that of having them run the telecommunications network.

The federal government has had a long-standing prohibition on Chinese telco Huawei from running fibre networks.

"Anyone who runs a high-voltage transmission network will be able to run data services. There are parallels with [the electricity network] and the NBN," he said.

Mr Foley refused to criticise a union advertisement focused on China, which former Bob Carr speechwriter and Race Discrimination Commissioner Tim Soutphommasane tagged "xenophobic".

"I don't want any foreign government ... owning our sensitive and essential electricity network," Mr Foley said.

"The Commissioner made no criticism of our campaign".

NSW Greens MP John Kaye claims households will be slugged to pay for executive salaries if the state's power assets are privatised. He released an analysis on Thursday showing a privately owned power company in Victoria pays its executive managers nearly twice as much as the larger state-run operation in NSW, even though it earns a fraction of the revenue.

A spokesman for Mr Baird said evidence showed private investment in electricity networks "leads to improved efficiency, reduced costs for the businesses, and lower network prices passed on to households and businesses".

On Thursday, Mr Baird said the state's fortunes were at risk if Labor "sneaks over the line". He urged electors to "vote 1 for the Liberal and National candidate".

In response to the Coalition's "Just vote 1" campaign, Labor has launched an online video titled "How to make sure your vote isn't wasted". Aimed squarely at Greens and Independent voters, it calls on them to number every box on Saturday and put the Liberals and Nationals last.

Preferences played a crucial role in getting the ALP across the line in the February Queensland election.

NSW Labor believes preferencing will make the most difference in eight key seats on Saturday: Ballina, Lismore, Tweed, Wyong, The Entrance, Gosford, Blue Mountains and Strathfield.

Labor has struck a preference deal with the Greens in 23 lower house seats as well as the upper house, which it hopes will help accentuate the 10 per cent swing against the government apparent in recent polling.