Mighty River Power plans to freeze its electricity and gas prices until April 2015, but can't guarantee that transmission and distribution prices won't rise. The assurance is related only to the company's standard charges and does not stop the power generator from offering discounts and other special deals in particular areas or to specific groups of customers.

MightyRiverPower (MRP) shares dropped below $2 for the first time since listing at $2.50 in May.

MRP hit $1.99 in early trading on the NZX, while instalment receipts for Meridian Energy dropped to 93.5 cents, compared with their listing price of $1.

Mighty River Power (MRP) is shutting down, Nga Awa Purua installation, its largest geothermal power station, the 140 Megawatt to carry out temporary repair work after finding geothermal fluids have damaged the three-year-old unit.

In spite of a strong start, newly floated Mighty River Power failed to keep up with the expectations of its share holders. The share holders now will get an opportunity to question the board and management about its poor performance in a meeting which is scheduled for today. The first annual meeting will be held this afternoon at 2 pm in Ellerslie Events Centre in Auckland.

It has been five months that New Zealand has started its new controversial sale of assets with the IPO of a state-owned power generator. As per a new report, it has been revealed that the Company announced to purchase its shares back, which they earlier decided to sell their assets.

Mighty River Power reveals that its tariffs are ready to report a rise by April 1 this year and again from July after its obligations begin under the Emissions Trading Scheme.

Mighty River Power Chief Executive Doug Heffernan posted that prices had been frozen, however, a 3% boost on consumer bills propelled increased charges from lines companies.