Director 79% pay rise for 'risks'
Director 79% pay rise for 'risks'
News that fees for Mighty River Power (MRP) directors will rise more than 70% once the company is listed has Opposition parties calling foul.
Mighty River Power
400,000 Mighty River Power pre-registrations
400,000 Mighty River Power pre-registrations
More than 400,000 New Zealanders had pre-registered their interest in Mighty River Power shares by yesterday, as the Labour Party continued its criticism of the partial sell-down of the state-owned power-generation asset.
Mighty River admits risk
Mighty River admits risk
Mighty River Power has admitted its investments in geothermal exploration in Chile could come to nothing, but believes it is worth the risk given Chile's massive geothermal resources and energy demands.
Float warning for novice investors
Float warning for novice investors
People who buy shares in Mighty River Power hoping to sell them quickly could face a delay of several weeks if they have never been to a broker before, an investment expert is warning.
Mighty River pre-registrations pass 100,000
Mighty River pre-registrations pass 100,000
More than 100,000 New Zealanders had pre-registered for shares in Mighty River Power at the latest count yesterday and brokers said interest remained high in the partial sale of the state-owned asset.
Mighty River Power on block post haste
Mighty River Power on block post haste
The Government has wasted no time in offering 49% of Mighty River Power for sale, pre-registration of interest from investors opening today and the listing likely to be made before the May 16 Budget.
A dose of realism
A dose of realism
The much-anticipated decision by the Supreme Court regarding the sale of shares in state-owned Mighty River Power went the way most people anticipated.
Ball in Cabinet's court over Mighty River
Ball in Cabinet's court over Mighty River
The High Court's Justice Ronald Young has put the ball in Cabinet's court over the Maori Council's bid to halt the Mighty River Power sale.
Warnings as Key pulls plug on water
Warnings as Key pulls plug on water
Shares in state-owned enterprise Mighty River Power might be sold at a discounted value after Prime Minister John Key yesterday announced there will be no "shares plus" scheme for Maori claiming water rights.
Key ready for court fight over Mighty River
Key ready for court fight over Mighty River
The Government is battle-ready for any court-based challenge to its partial share float of the Mighty River Power company in the wake of the Waitangi Tribunal's call for a delay.
Mighty River consolidates commercial customer base
Mighty River consolidates commercial customer base
State-owned power company Mighty River Power consolidated its commercial customer base in the three months ended June while at the same time losing some of its retail customers.
Government confident NZ ownership will be retained
Government confident NZ ownership will be retained
The Government remains confident that 85% to 90% of the state-owned enterprises will remain in the hands of New Zealanders as the partial sell-down of Mighty River Power is announced.
Demand likely to be high for assets
Demand likely to be high for assets
Prime Minister John Key has indicated that Mighty River Power and Genesis Energy will be the first of the state-owned enterprises to be partially sold off. Business editor Dene Mackenzie looks at the process.
Mighty River Power to build $466m geothermal plant
Mighty River Power to build $466m geothermal plant
Mighty River Power has confirmed plans to build a $466 million geothermal electricity generation plant north of Taupo.
NZ generators opt for ASX hedging
NZ generators opt for ASX hedging
Five New Zealand power generators, which banded together to trade forward contract hedging derivatives as EnergyHedge, have snubbed New Zealand stock exchange attempts to become the trading platform, instead opting to join the Australian stock exchange.
Mighty River Power to pay $56.2m interim dividend
Mighty River Power to pay $56.2m interim dividend
State-owned Mighty River Power paid its first interim dividend to the Government - $56.2 million for the six months to the end of December - due to a strong performance for the period.