HOUSTON--(BUSINESS WIRE)--Jun. 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
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.
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.
Source: Calpine Corporation
Bryan Kimzey, 713-830-8775