The Meridian Energy partial privatisation is so large it may have to be split in two, Prime Minister John Key says.

The 113,000 so called "mum and dad" investors who bought Mighty River shares included companies, trusts and investment institutions, Treasury has confirmed.

Not much time has passed since the Government's Budget announcement that shares in Meridian Energy would be the next to be sold.

A Canterbury researcher is investigating renewable energy options for Pacific island nations in a bid to cut reliance on expensive diesel generators.

The Green Party says that shares sold in the recent float of Mighty River Power went to only a small group of investors - and claims of widespread 'mum and dad' ownership are false.

What the assets are worth now depends on the future path of electricity prices and the effect that has on the company's cashflows, writes Brian Fallow.

Shares in Mighty River Power ducked below their issue price for the first time since their debut on the NZX today before recovering ground near the close of business.

Shell says its campaign to squeeze untapped gas from the Maui field is meeting expectations as it casts it net to far flung parts of New Zealand's exclusive economic zone.

The Government will waste no time selling down Meridian Energy with Treasury officials expected to meet investment bankers on Monday.

Meridian Energy, New Zealand's biggest and most profitable power company, will be partially privatised later this year, Finance Minister Bill English confirmed in yesterday's Budget.

Senior executives of newly listed, state-controlled Mighty River Power are in line for shares in lieu of cash bonuses worth $1.2 million for the year to June 30.

Research firm UBS has placed a "buy" recommendation on Mighty River Power shares and a 12 month target price of $2.82.

The government will be keen to see Mighty River Power shares trade at a premium to its $2.50 issue price when it lists on the NZX today, fund managers say.

Editorial: Naturally enough, the Government was keen to put the entire blame for what happened on "politicking" by Labour and the Greens.

The high number of first-time sharemarket investors buying into Mighty River Power bodes well for the capital markets, says the New Zealand Shareholders Association.

The Government has secured a mid-range price for its sale of Mighty River Power shares but just one in four of those who pre-registered ended up buying shares.

Solid Energy chairman Mark Ford says the struggling energy group - which is to cut another 105 jobs - is a "very different company'' to what it was a year ago.

Solid Energy has confirmed it will shed 105 jobs as it restructures in a bid to stay viable.