The asset sales programme in total is expected to raise between $4 billion and $5 billion for the Government - below the bottom end of the $5 billion to $7 billion range set out at the start.
Genesis, which owns the Huntly gas and coal power station, is regarded as being a less attractive asset compared with Mighty River, which has extensive geothermal and hydro assets, and Meridian, which generates its power from hydro dams and wind.
However, Genesis does have a 31 per cent stake in the lucrative Kupe oil and gas field, and is the country's biggest electricity and gas retailer. Since 2011 Genesis has owned the Tekapo A and B hydro stations.
New Zealand electricity consumption over the past few years has been declining because of a number of factors, one of them being a flat economy.
Other influences have come into play, among them reduced demand from heavy users such as paper mill company Norske Skog and the Tiwai Pt aluminium smelter.
However, economists expect the economy to put on a big growth spurt this year, so the power supply and demand dynamic could change.
Genesis last month posted a 72 per cent slump in its first-half net profit to $19.7 million, driven mostly by low wholesale electricity prices resulting from last year's above-average lake storage levels.
Meridian's instalment receipts, which were issued at $1, closed yesterday at $1.055, having dipped last year to a low of 89.5c. Mighty River's share price closed at $2.04, compared with the $2.50 a share issue price.
