Calpine Names New Leaders for Commercial Development, Finance and Treasury

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HOUSTON--(Business Wire)--
Calpine Corporation (NYSE: CPN) has named two Vice Presidents to lead its
Commercial Development and its Finance and Treasury functions.

* Todd Thornton has been named Vice President of Commercial Development, a new
position created to drive Calpine`s greenfield and brownfield development
efforts. Mr. Thornton will report to President and Chief Operating Officer Thad
Hill. Mr. Thornton joined Calpine in October 2000 as a Financial Analyst and has
held increasingly responsible positions within the Finance department, including
being named Vice President of Finance in 2007 and Treasurer in 2009. He was
instrumental in guiding the Company through transformation of its capital
structure. He earned a Bachelor of Science degree in Finance from Northern
Illinois University.
* Stacey Peterson has been named to replace Mr. Thornton as Vice President of
Finance and Treasurer and will report to Executive Vice President and Chief
Financial Officer Zamir Rauf. Ms. Peterson will be responsible for capital
markets and financing activities, including debt compliance, and Treasury
operations. Ms. Peterson previously served as Vice President of Trading in
Commercial Operations. She joined Calpine in 2007 as part of the restructuring
team, focused on the ERCOT region. She was named Director of Finance in 2009 and
Vice President of Trading in 2011 and has played key roles on a variety of
commercial projects and transactions. Prior to Calpine, Ms. Peterson worked for
BP, where she was involved in upstream and midstream capital structuring and
analysis. She earned a Bachelor of Science in Finance from the Kelley School of
Business at Indiana University.

"Todd and Stacey exemplify the deep bench of talented leaders at Calpine and our
commitment to developing and growing the careers of our employees," said Mr.
Hill. "In Todd`s new role, he will help us realign and strengthen our
development efforts to take advantage of fiscally responsible growth
opportunities in our key markets."

"Stacey`s experience and outstanding performance in our Finance and Commercial
Operations groups will provide valuable insight as she assumes this leadership
role," said Mr. Rauf.

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
wholesale competitive 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

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