in december 2011, the national government announced plans to reduce its shareholding in mighty river power, as well as in the three other state-owned energy companies, from 100 percent to 51 percent and to sell off the remaining 49 percent as part of its controversial "mixed-ownership model" plan. mighty river power was to be the first company to be partially sold in september 2012, pursuant to legislative changes and market conditions. however, threatened legal action and unfavourable market conditions saw the government delay any sale until march 2013 at the earliest.