New South Wales Premier Mike Baird says he will waste no time with getting on with his plan to partially privatise poles and wires, after claiming victory in state election.

The NSW Coalition secured a convincing victory on Saturday, despite a massive campaign against its power privatisation plan.

Mr Baird said the win meant he had a mandate to push on with the plan.

Speaking to reporters in his electorate of Manly on Sunday morning, Mr Baird said he planned to get started right away and hoped to have the legislation before Parliament as soon as possible.

"So it's underway. I mean we want to do everything we can for the people of this state. We put forward a critical measure that provides the funding. Our job now is to get on with it. There is a range of things to do this afternoon, and tomorrow," he said.

"As Parliament comes back, the sooner we can get Parliament back, we will be coming back. Look, we are working from today and I think that's what the people of NSW want to see.

"I mean certainly what we were given, I think, is an incredible opportunity now to make a difference to people across this state. We are determined to do it."

The NSW Coalition win was despite a swing to Labor of just under 9 per cent, giving the party a predicted win of 34 seats to the Coalition's 53.

Mr Baird acknowledged the impact of the Greens on the election result, with the party winning three seats and a fourth likely.

"It shows that the Greens are undoubtedly becoming more of a force taking away from Labor Party votes," he said.

"The question comes back to Labor, who are they and what do they stand for? What those results show, people are confused."

Mr Baird was given a rapturous welcome at the Coalition HQ at a hotel in the Sydney CBD as he claimed victory at 9:40pm on Saturday.

"We sought a mandate to make NSW great and tonight the people of NSW have given us that mandate," he said.

"I will guarantee that we will work every day for you to make your lives better. That is what this election campaign has been about."

But Mr Baird conceded Labor's campaign against the electricity sell off had cost the Government votes.

"I believe it was the biggest scare campaign in the state's history, and as a result we lost some good people tonight," he said.

Sitting Coalition MPs that lost their seats include the members for the Blue Mountains, Campbelltown, Rockdale, Granville and a swag of seats on the Central Coast and in the Hunter.

Those regions are where seven local Liberal MPs were caught up in last year's corruption hearings.

But the Government bucked the trend in other crucial seats, even winning some swings to sitting government MPs in electorates like Oatley.

NSW Premier Mike Baird claimed victory with his family by his side. ( AAP: Nikki Short )

The final count for the Upper House will not be known until well after Easter.

Foreign Minister Julie Bishop congratulated the Baird Government and said the result showed voters could be willing to embrace reforms.

"I think it does underscore what we've been trying to do and that is explain to the Australian people that reforms are necessary," she said.

"That's what our intergenerational report is all about — showing how Australia was on the wrong path under Labor but we can get it on the right path with some reforms."

Frontbencher Scott Morrison said Mr Baird's election would make the Coalition's federal budget task easier.

Mr Morrison described Mr Baird's victory as a strong result for the Coalition and said his promise of infrastructure spending would also benefit the Federal Government.

"We're thrilled for Mike Baird, because our budget task does get easier I think because Mike Baird has been re-elected, because he has an infrastructure program which will help continue to drive the national not just the NSW economy," he said.

'New life' breathed into Labor Party

Federal ministers have acknowledged the New South Wales election was seen as hurdle for the Federal Government and Tony Abbott's leadership.

A Sydney University politics lecturer said there was a lesson in leadership for Mr Abbott in Mr Baird's election win.

Dr Peter Chen said there was a lot of focus on the similarities between Mr Baird and Mr Abbott at the beginning of the campaign, but that changed.

NSW Opposition Leader Luke Foley with new Granville MP Julia Finn (left) and Londonderry MP Prue Carr. Mr Foley said the election result was good news for the Labor Party. ( ABC News: Jean Kennedy )

"He's articulate where the Prime Minister is inarticulate, he's incredibly non-threatening and friendly," he said.

"So I think there's a lesson obviously in leadership. Whether the Prime Minister Tony Abbott is able to demonstrate any of those characteristics, I'm not sure."

Opposition Leader Luke Foley had brunch with a group of newly elected Labor MPs from Sydney's western suburbs.

He was joined by the new Labor MPs in the seats of Prospect, Londonderry, Macquarie Fields, Campbelltown and Granville, most of whom unseated sitting Liberals.

Mr Foley was elected to the seat of Auburn in Saturday's election.

He said voters had breathed new life into Labor and he intended to renominate for the leadership of the party.

After the 2011 election, Labor was looking at three terms in the political wilderness, but Mr Foley told supporters on Saturday night the future was now brighter.

NSW Opposition Leader Luke Foley believes the election result has breathed new life in to the Labor Party. ( ABC News: Liz Foschia )

"I lead a revived NSW Labor Party. Our journey of renewal and change must continue," he said.

"The next election is now winnable for Labor."

The ALP regained its former heartland in the Hunter, where four Liberal MPs were forced to resign or move to the crossbench last year because of a developer donations scandal.

The seats of Newcastle, Maitland, Port Stephens, Swansea and Charlestown have been won by Labor.

The ALP's candidate for Newcastle, Tim Crakanthorp, said it had been a hard-fought return.

"Gee, what a tough campaign I tell you. I just want to thank the people of Newcastle for putting their trust in me. But look, we're back, Labor is back, we're back in the Hunter," he said.

Big swing to the Greens shows 'growing force'

Meanwhile, there was a big swing to the Greens in several key seats, with the party adding two seats in the Lower House and looking likely to win a third.

The two inner-city seats of Newtown and Balmain and the north coast seat of Ballina are now held by Greens MPs.

It appears likely the north-coast seat of Lismore will also be won by the Greens.

Greens candidates Jenny Leong (Newtown) and Jamie Parker (Balmain). The party has four seats and describes itself as a growing force in NSW. ( ABC News: Anne Barker )

Newly elected Greens MP for Ballina, Tamara Smith, said she could not believe the Greens had ousted the Nationals.

"It's so startling to have gone from a safe Nationals seat for 27 years to the Greens," she said.

Ms Smith said opposition to coal seam gas (CSG) was a major issue.

"I think it just sends an incredibly loud message that people are ready to deal with climate change, renewable energy and they don't want coal seam gas in this area," she said.

North coast resident and Liberal MLC Catherine Cusack said the Coalition had prepared many policies on CSG.

"But perhaps we left them too late would be my suggestion," she said.

Greens MP John Kaye said the results showed the Greens were a growing force in the Lower House.

Dr Kaye said the change posed significant challenges to the National and Labor parties.

"We hold heartland seats for both both the north coast for the national party and the inner city for the Labor party but more importantly it is an expression of the people of NSW looking for something beyond the old two parties," he said.