Prime Minister John Key has said he is confident Genesis Energy can be floated this year despite the lacklustre performance of the floats of Meridian and Mighty River Power last year.
Key told a post-cabinet news conference senior ministers had discussed the Genesis float last week and he had received advice from Treasury overnight that it was confident it could be floated.
He said a decision was not due today, but would be made "soon." He noted Meridian and Mighty River Power had done better recently and were still expected to pay good dividends.
Elsewhere, Key said an election would be in the second half of the year and he was still considering the exact timing.
He noted that the G20 Summit due in Brisbane on November 15 and 16 was a "complicating factor" when considering the timing, given it could take weeks for any election result to be clear. Australian Prime Minister Tony Abbott has invited the New Zealand Prime Minister to attend the G20 meeting.
Key said it was unlikely he would attend in the latter stages of the election campaign, but he would not rule an election in or out either before or after the campaign.
If an election was held in November it would require either the Prime Minister to travel to Brisbane in the middle of the campaign, or for a Prime Minister to be elected and a coalition to be formed in the previous two weeks.
He said he would clearly indicate to voters which minor parties National would reach accommodations with in the weeks before the election. He suggested announcements about the possible deals for electorate seats could be announced 2 to 3 weeks before the election.
Meanwhile, he said he agreed with Finance Minister Bill English that wages were likely to increase this year as the Labour Market tightened and skill shortages developed.
He said he expected pay increases around the 2-3% mark.
He declined to say how much the Government would increase the minimum wage when it decided in April, except to say the Government had increased the minimum wage every year since 2008.
Visit to Australia
Key announced he would travel to Sydney after Waitangi Day celebrations on Thursday to meet with Australian Prime Minister Tony Abbott on Friday and Saturday. They are due to jointly attend and speak at a Trans Tasman Business Circle event in Sydney.
He said he would thank Abbott for the invitation to the G20 and discuss their Governments responses to the New Zealand and Australian Productivity Commissions' respective reports.
He said the hosting of the joint Cricket World Cup next year would be discussed, as would New Zealand's objection to the Australian Government's exclusion of various benefits and services to New Zealand citizens working in Australia.
Key said he would be joined by Finance Minister Bill English and five other ministers, Steven Joyce, Judith Collins, Tony Ryall, Amy Adams and Michael Woodhouse, for a joint meeting of Australian and New Zealand cabinet ministers.
(Updated with Australian trip details)
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