The Supreme Court has dismissed the appeal by the New Zealand Maori Council to block the Mighty River Power partial privatisation.

The former chairman of financially troubled Solid Energy approved a big pay rise for chief executive Don Elder in one of his last acts in the job, Labour claims.

John Key and Bill English have been on tenterhooks waiting for the Supreme Court judgment on the Mighty River sales process, writes Fran O'Sullivan.

The estimated proceeds from partial sales of state-owned enterprises of $5-$7 billion may have to be revised downwards in the Budget, Finance Minister Bill English conceded today.

Genesis Energy chair Jenny Shipley says the state owned enterprise is ready for partial sale but is coy on whether she will be leading the company on the sharemarket.

Genesis Energy has turned in a tidy-looking result for the six months to December 31, with net profit after tax up 85 per cent to $71 million.

Meridian Energy says it's ready for partial privatisation and expects a significant uplift in operating earnings after transmission outages knocked its performance.

Mighty River Power says the driest summer in at least five years will affect its full-year result as it cuts back on generating power from its Waikato River dams.

Solid Energy is in crisis, with a Government bailout almost inevitable, mine closures possible and further job cuts likely in another restructure to try to salvage it.

Solid Energy, the state-owned coal miner whose chief executive quit this month, is in talks with its banks because of its deteriorating financial position.

The Supreme Court yesterday heard final submissions on a second case that could affect the Government's planned partial sale of Mighty River Power.

Prime Minister John Key has given his qualified support to Jenny Shipley remaining chair of the soon-to-be-listed power company Genesis.

Don Elder has resigned as chief executive of troubled coal company Solid Energy, effective immediately.

The sale of power shares would create barriers to the Government's ability to provide redress for Maori rights, Chief Justice Dame Sian Elias says.

The Maori Council says key principles behind its 1987 Lands case victory apply with greater force over its current bid to delay the sale of Mighty River Power.

The Maori Council's final bid to delay the Government's flagship asset sales policy until Maori water claims are dealt with.

It is folly to press on with the partial privatisation of the state-owned power companies when the future of the Tiwai Pt aluminium smelter is unresolved, writes Brian Fallow.

Electricity retailer Mercury Energy has announced its first across the board price cuts in a decade.

Fran O'Sullivan looks at five 'nuggety issues' that look likely to hog business headlines in coming months.