Calpine Supports Proposed EPA Clean Power Plan

  Calpine Supports Proposed EPA Clean Power Plan

Business Wire

HOUSTON -- June 2, 2014

Calpine Corporation (NYSE: CPN), one of the nation’s largest producers of
electricity with 93 power plants in 20 states and Canada, has long been an
industry leader, voluntarily and consistently investing in modern, efficient,
flexible generation technology to provide reliable, affordable electricity in
an environmentally responsible and sustainable manner. Consistent with this
investment philosophy, we support policies designed to reduce greenhouse gas
(GHG) emissions associated with power generation through flexible,
market-based, technology-neutral rules that encourage a transition to
efficient, less carbon-intensive generation.

Today, the U.S. Environmental Protection Agency (EPA) proposed the Clean Power
Plan, a proposal to reduce GHG emissions from power plants that encourages
flexible, market-based and technology-neutral solutions to meet the standard.
The rule recognizes the differences in fuel mix for generation resources among
the various states and regions and gives each state the ability to adopt its
own compliance plan over a reasonable time period. It also would allow states
to facilitate compliance by joining existing or forming new regional
market-based GHG emissions reduction programs, enabling the states to
determine how to most effectively manage the implementation and impact of the
rule.

“Calpine supports the EPA’s proposal because we believe it will ensure
continued progress toward cleaner energy in a way that supports ongoing grid
reliability while allowing market forces to work to deliver the lowest-cost
solution for reducing GHG emissions,” said Thad Hill, Chief Executive Officer
of Calpine. “With our modern, flexible, efficient fleet, Calpine is ready to
meet this challenge head on.”

Calpine’s fleet, which consists primarily of natural gas-fired, combined-cycle
generation units, is well poised to help achieve the EPA’s innovative
proposal. The national average utilization of combined-cycle generation units
is approximately only 40%. By simply increasing the utilization of these
existing facilities sooner rather than later, meaningful GHG emissions
reductions may be achieved without sacrificing grid reliability.

Calpine, as an early mover in the transition to cleaner, reliable generation
resources, looks forward to continuing to work with the EPA, states and other
stakeholders to ensure that the regulations achieve meaningful, cost-effective
reductions while assuring electric grid reliability.

About Calpine

Calpine Corporation generates more electricity than any other independent
power producer in America, with a fleet of 93 power plants in operation or
under construction, representing more than 29,000 megawatts of generation
capacity. Serving customers in 20 states and Canada, we specialize in
developing, constructing, owning and operating natural gas-fired and renewable
geothermal power plants that use advanced technologies to generate power in a
low-carbon and environmentally responsible manner. Our clean, efficient,
modern and flexible fleet is uniquely positioned to benefit from the secular
trends affecting our industry, including the abundant and affordable supply of
clean natural gas, stricter environmental regulation, aging power generation
infrastructure and the increasing need for dispatchable power plants to
successfully integrate intermittent renewables into the grid. We focus on
competitive wholesale power markets and advocate for market-driven solutions
that result in nondiscriminatory forward price signals for investors. Please
visit www.calpine.com to learn more about why Calpine is a generation ahead –
today.

Forward-Looking Information

In addition to historical information, this release contains forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Words such as
“believe,” “intend,” “expect,” “anticipate,” “plan,” “may,” “will,” “should,”
“estimate,” “potential,” “project” and similar expressions identify
forward-looking statements. Such statements include, among others, those
concerning expected financial performance and strategic and operational plans,
as well as assumptions, expectations, predictions, intentions or beliefs about
future events. You are cautioned that any such forward-looking statements are
not guarantees of future performance and that a number of risks and
uncertainties could cause actual results to differ materially from those
anticipated in the forward-looking statements. Please see the risks identified
in this release or in Calpine’s reports and registration statements filed with
the Securities and Exchange Commission, including, without limitation, the
risk factors identified in its Annual Report on Form 10-K for the year ended
Dec. 31, 2013. These filings are available by visiting the Securities and
Exchange Commission’s website at www.sec.gov or Calpine’s website at
www.calpine.com. Given the risks and uncertainties surrounding forward-looking
statements, you should not place undue reliance on these statements. Many of
these factors are beyond our ability to control or predict. Our
forward-looking statements speak only as of the date of this release. Actual
results or developments may differ materially from the expectations expressed
or implied in the forward-looking statements, and, other than as required by
law, Calpine undertakes no obligation to update any such statements, whether
as a result of new information, future events, or otherwise.

Contact:

Calpine Corporation
Media Relations:
Brett Kerr, 713-830-8809
brett.kerr@calpine.com
or
Investor Relations:
Bryan Kimzey, 713-830-8775
bryan.kimzey@calpine.com
 
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