Energy company shares may go on Aus market

There are strong signs the Government will put shares in the partially privatised energy companies on the Australian share market.

Treasury is looking into the proposal, despite promises from the Prime Minister that Kiwi mums and dads will be at the front of the queue to buy shares.

John Key says eight out of our top 10 of our listed companies are on the Australian share market, including Air New Zealand.

"The reason why the advice, in one instance has been that it's a good idea to do that, is because the mandate of Australian funds that invest on behalf of New Zealanders often require them to be listed on the ASX."

State Owned Enterprises Minister Tony Ryall says the uncertainty over water rights hasn't had any material impact on the share prices of electricity firms Contact Energy and Trustpower.

"Contact shares were priced at $4.70 on the 7th of February when the claim was lodged and traded at $4.81 at the close of trading yesterday."

Mr Ryall says Trustpower's share price has also risen.

Photo: NZ Herald