Meridian Energy's instalment receipts have continued to hold firm, helped by buying interest from Bank of New York Mellon Corp, through its London-based subsidiary, Newton Investment.

The head of New Zealand's investment regulator has hit out at the Government's energy company sharemarket floats and says they have failed to lead the way in making it easier for retail investors to access information.

Meridian says a New York bank owns just 3.98 per cent of the company - not the 8.1 per cent it said earlier.

The FMA yesterday called on issuers of investment statements and prospectuses to "lift their game" after its report on the industry following its guidance note of June last year.

The price of newly-listed Meridian Energy instalment receipts edged higher this morning.

Analysts expect power company's stock to keep trading above its issue price after gaining 8% on first day.

Meridian Energy's shares debuted at $1.08 after tepid demand in the initial public offering saw the stock sold at the bottom end of its indicative range.

The low turnout and price set in the Meridian Energy float this week has confirmed the failure of the Government's "Mixed Ownership Model", says Bernard Hickey.

Market players say Meridian Energy's initial public offer price is fair and reflects the lessons the Government has learned from its listing of Mighty River Power.

The deal will raise $1.88 billion instead of the maximum $2.25 billion for the 49 per cent share, and values Meridian at $3.84 billion.

The chances of the Govt raising $5 billion to $7 billion from its partial assets sales is looking dimmer after details of No 2 sale, Meridian, were announced last night.

Meridian shares will be issued at a listing price of $1.50, the bottom of the indicative range, and with a much smaller investor pool than the government had hoped for.

Solid Energy has secured its restructuring deal with most of its banks and the Government following a series of meetings today in Christchurch.

Auckland bio-fuels pioneer Lanzatech has been named the second "hottest" bio-technology company in the world and 4th hottest for bio-chemicals.

Britain has struck an agreement to build a new nuclear power plant - the first such deal in the European Union since the disaster at Fukushima prompted a major rethink of the energy source's merits.

Sources said the Meridian general offer could attract up to $280 million which, when taken with the broker allocation of $565m, could see up to $850m out of the $1.25 billion offer in retail ownership.

Closing day for the Meridian offer, the Vector media blackout, Diligent and Abano.

Chorus would get "windfall gains" and have an incentive to "go slow" building the ultra-fast broadband network if the Govt intervenes in the copper internet market, says Vector.

It is deliciously funny to see befuddled Green Party politicians advocating policies that subsidise precisely what they want to discourage, writes Jamie Whyte.

People contemplating investment in Meridian Energy shares need to think long and hard about political risk, writes Brian Fallow.