Calpine CEO to Ring Closing Bell at New York Stock Exchange

Fri Jan 18, 2013 9:00am EST

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HOUSTON--(Business Wire)--
This afternoon Jack Fusco, Chief Executive Officer of Calpine Corporation
(NYSE:CPN), and Calpine team members will ring the closing bell at the New York
Stock Exchange to commemorate the fifth anniversary of the relisting of the
Company`s stock on the Exchange. 

"Our relisting five years ago was followed by a period of unprecedented economic
stress in America. I am proud to say that through the hard work and dedication
of our employees, Calpine was able not simply to endure that test but to emerge
five years later stronger and more focused than we have ever been on being the
premier independent power generator in America," Mr. Fusco said. "More
specifically, Calpine has achieved important strategic, operating and financial
milestones over those years." 

Highlights of Calpine`s accomplishments since 2008 include the following:

* Achieved Meaningful Strategic Objectives

* Strategically reallocated capital to core competitive wholesale power markets
including the Mid-Atlantic and Texas through nearly $4 billion in acquisition
and divestiture activities

* acquired through merger 18 operating power plants representing nearly 4,500
megawatts of capacity in the Mid-Atlantic to establish a foothold in America`s
largest competitive wholesale electric market 
* sold five plants representing more than 2,500 megawatts of capacity in
non-core locations

* Completed construction of a 565 megawatt plant in Pennsylvania and a 608
megawatt plant in California 
* On track to bring approximately 1,600 megawatts of additional capacity online
in California, Texas and Delaware

* Delivered Excellent Operational Performance

* Achieved record generation volumes in 2012 with more than 100 billion kilowatt
hours produced 
* Achieved record-low power plant forced outage factors in 2012 
* Demonstrated industry-leading safety performance

* Made Meaningful Progress on Financial Goals

* Strengthened our balance sheet by simplifying capital structure, lowering
borrowing costs and extending debt maturities through 2023 
* Substantially completed our $600 million share repurchase program 
* Grew Adjusted Recurring Free Cash Flow Per Share

"We believe these accomplishments have created and will continue to enhance
shareholder value as the broader economy continues its recovery and the markets
into which we deliver power and the regulatory trends on the environmental front
reward the unique benefits offered by our fleet of 92 modern, clean, efficient
and flexible natural gas-fired and geothermal power plants," Mr. Fusco said. 

About Calpine

Calpine Corporation generates more electricity than any other independent power
producer in America, with a fleet of 92 power plants in operation or under
construction, representing more than 27,000 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 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 Dec. 31, 2011. 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. 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:
Bryan Kimzey, 713-830-8775
bryan.kimzey@calpine.com



Copyright Business Wire 2013

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