Calpine to Announce First Quarter 2009 Earnings on May 8, 2009

HOUSTON--(Business Wire)--
Calpine Corporation (NYSE:CPN) announced today that it plans to release first
quarter 2009 financial results on Friday, May 8, 2009, before the opening of the
New York Stock Exchange. Management will discuss the results during an investor
call scheduled for 8:00 a.m. ET / 7:00 a.m. CT on May 8.

A listen-only webcast of the call may be accessed through Calpine`s web site at
www.calpine.com or by dialing 888-765-5547 at least 10 minutes prior to the
beginning of the call. An archived recording of the call will be made available
on the web site and can also be accessed by dialing 888-203-1112 or 719-457-0820
(International) and providing confirmation code 3407359.

About Calpine

Calpine Corporation is helping meet the needs of an economy that demands more
and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S.
power company, currently capable of delivering over 24,000 megawatts of clean,
cost-effective, reliable and fuel-efficient electricity to customers and
communities in 16 states in the United States and Canada. Calpine owns, leases
and operates low-carbon, natural gas-fired and renewable geothermal power
plants. Using advanced technologies, Calpine generates electricity in a reliable
and environmentally responsible manner for the customers and communities it
serves. Please visit www.calpine.com for more information.

Forward-Looking Information

In addition to historical information, this release contains forward-looking
statements within the meaning of 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"
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 December 31, 2008. These filings are available by visiting the
Securities and Exchange Commission's web site at www.sec.gov or Calpine's web
site at www.calpine.com. Actual results or developments may differ materially
from the expectations expressed or implied in the forward-looking statements,
and Calpine undertakes no obligation to update any such statements.

Calpine Corporation
Media Relations:
Norma F. Dunn, 713-830-8883
norma.dunn@calpine.com
or
Investor Relations:
Andre K. Walker, 713-830-8775
andrew@calpine.com

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