State-owned power company Meridian Energy says talks are "ongoing" on renegotiating a power contract with the Tiwai Point aluminium smelter.
Media reports today suggested that a new deal was all but signed. That would help clear the way for the Government's partial privatisation of Meridian this year.
But Meridian said power contract talks continued, about a year after they started.
"They are ongoing but we are unable to say anything else until there is some resolution," a Meridian spokeswoman said.
The talks remained confidential, and the spokeswoman would not even say whether discussions were being held in Wellington.
The "robust" negotiations had not continued constantly for the past year.
"It is a big contract and a very complicated one," she said.
There was no prospect of a press conference soon "because there's nothing to tell you", she said.