Calpine’s York Energy Center Commences Commercial Operation

Pennsylvania Plant Completed Ahead of Schedule and Under Budget

HOUSTON--()--Yesterday Calpine Corporation (NYSE:CPN) successfully commenced commercial operations at the newly constructed, natural gas-fired York Energy Center in Peach Bottom Township, Pennsylvania. The plant, with a capacity of 565 megawatts or enough to power more than 450,000 residential customers, was completed three months early and under its project budget.

York is a flexible and highly efficient combined-cycle plant fitted with advanced emissions control technologies that make it among the cleanest in the eastern United States. Additionally, a combined-cycle plant consumes about 40 percent less fuel per megawatt-hour produced compared to older natural gas plants and produces less than half of the greenhouse gas emissions of the typical coal-fired power plant, making it a reliable, cost-effective, lower-carbon source of electricity.

The plant will produce power for Constellation Energy under a six-year tolling agreement beginning June 1, 2011. Until then, Calpine will sell power generated by the plant into the PJM wholesale power market.

“York exemplifies Calpine’s commitment to meeting its customers’ need for reliable, flexible and cost-effective power production in a sustainable manner,” said plant manager Mike Del Casale, who also managed construction of the plant. “Congratulations to the Calpine employees and contractors who safely and successfully delivered this plant ahead of schedule and under budget.”

Calpine’s North Region

Calpine’s 31 plants in our North Region span 10 U.S. states and Canada and have the capacity to deliver more than 7,900 megawatts of electricity. More than 5,100 MW of the power they generate comes from highly efficient, combined-cycle technology. Complementing these facilities are peaker plants, which can quickly begin operation when demand is greatest, and cogeneration plants, highly efficient facilities that concurrently produce power and steam for industrial customers.

About Calpine

Founded in 1984, Calpine Corporation is a major U.S. power company, currently capable of delivering approximately 28,000 megawatts of clean, cost-effective, reliable and fuel-efficient power from its 92 operating plants to customers and communities in 20 U.S. states and Canada. Calpine Corporation is committed to helping meet the needs of an economy that demands more and cleaner sources of electricity. Calpine owns, leases and operates primarily low-carbon, natural gas-fired and renewable geothermal power plants. Using advanced technologies, Calpine generates power in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit our website at 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 Dec. 31, 2010. 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.

Contacts

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

Contacts

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