Shares in International Power were up on the FTSE 100 after the group said that its portfolio of long-term contracted assets had continued to perform well in the three months to 10 November.

The group said that expected 2010 spreads and load factors in its merchant markets were in line with guidance given previously in August.

International Power said that it would be selling off its stake of 33.3 per cent in the 687km SEA Gas pipeline to its partners Retail Employees Superannuation Trust and Australian Pipeline Trust for 92.5 million Australian dollars. The sale is expected to be completed before the end of this year.

The proposed merger between International Power and GDF SUEZ Energy International is also expected to be completed by the end of 2010 or early 2011, subject to clearance by anti-trust and regulatory authorities.

In an outlook statement International Power said, "The outlook for the full year remains unchanged. Our merchant assets remain well positioned to capture value from any recovery or volatility in market conditions and the long-term contracted assets continue to operate in line with expectations."

By 10:45 shares in International Power were up 0.40 per cent on the FTSE 100 to 429.60 pence per share.