Mr Peters has also toyed with the idea of standing and was expected to announce his decision by the end of last week. However, he said today he did not know when a decision would be forthcoming.
The electorate has been a safe National seat for decades, but Mr Peters is understood to have been weighing up whether the lower turnout of a by-election and resignation of former Northland MP Mike Sabin would give him a chance.
The Green Party is expected to decide whether to contest the Northland seat this week. It was triggered by the resignation last month of former MP Mike Sabin.
Labour has selected its 2014 candidate as Willow Jean Prime, who will hold her campaign launch on Sunday.
National has whittled its candidate shortlist down to five: Mita Harris, Matt King, Grant McCallum, Mark Osborne and Karen Rolleston. It will select a candidate at the end of the month.