SAN JOSE, Calif., Oct 18, 2004 /PRNewswire-FirstCall via COMTEX/ -- Calpine Corporation's
(NYSE: CPN) wholly owned subsidiary, Calpine Energy Services (CES), has been
selected to provide energy services for Newmarket Services Company, LLC
(Newmarket). Newmarket is a newly formed subsidiary of MMC Energy, LLC and
Morris Energy Group, LLC. CES will provide a full range of energy services on
behalf of Newmarket, including fuel management, power marketing and gas
supply, for Newmarket's gas-fired, cogeneration power plants in New Jersey.
Andrew Slocum, vice president-merchant services, states, "Calpine Energy
Services is excited to provide Newmarket with one-stop shopping for its energy
services. We bring Newmarket years of experience in every aspect of gas-fired,
cogeneration. Our goal is to help Newmarket benefit from what we do best --
help customers get reliable performance and enhance their bottom line."
As agent for Newmarket, CES will provide a full range of energy services,
including daily energy and gas management (such as bidding, scheduling and
ancillary services), transmission analysis, and risk management and reporting.
CES now manages Newmarkets' 165-megawatt Bayonne, 145-megawatt Camden and
130-megawatt Newark Bay power plants.
MMC Energy, LLC is a New York- and London-based energy merchant bank and
asset management company. MMC was formed by a group of experienced energy
industry executives with a balance of hands-on operations, risk management,
finance, and restructuring skills. MMC's objectives are to acquire, control,
restructure and manage a sizable portfolio of deep value power and natural gas
assets, including associated fuel contracts in North America and Europe.
(www.mmcenergy.com).
Morris Energy Group, based in Morristown, NJ, is a privately held
electricity company. Founded in 2002, MEG is growing through the acquisition
of generating facilities and other electricity-related companies in the United
States.
Calpine's Energy Services
Beginning in 1999, with a unique vision for managing merchant generation
risk, Calpine built a scalable infrastructure of people, systems, and
processes that is today recognized as a leader in the energy services
industry. Today, CES manages power and gas assets for a wide range of
customers which, when combined, represent one of the largest unregulated
energy portfolios in North America. As an energy management services provider,
CES assists customers with commercial services such as trading and physical
liquidation of power and gas assets, operational services including scheduling
and settlements, and a variety of other customized energy management
solutions.
Calpine Corporation
Calpine Corporation, celebrating its 20th year in power, is a North
American power company dedicated to providing electric power to customers from
clean, efficient, natural gas-fired and geothermal power plants. The company
generates power at plants it owns or leases in 21 states in the United States,
three provinces in Canada and in the United Kingdom. The company, founded in
1984, is listed on the S&P 500 and was named FORTUNE's 2004 Most Admired
Energy Company. Calpine is publicly traded on the New York Stock Exchange
under the symbol CPN. For more information, visit www.calpine.com.
This news release discusses certain matters that may be considered
"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, including statements regarding the intent, belief or
current expectations of Calpine Corporation ("the Company") and its
management. Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve a number of
risks and uncertainties that could materially affect actual results such as,
but not limited to, (i) the timing and extent of deregulation of energy
markets and the rules and regulations adopted on a transitional basis with
respect thereto; (ii) the timing and extent of changes in commodity prices for
energy, particularly natural gas and electricity; (iii) unscheduled outages of
operating plants; (iv) a competitor's development of lower cost generating
gas-fired power plants; (vi) risks associated with marketing and selling power
from power plants in the newly-competitive energy market; and (vii) other
risks identified from time-to-time in the Company's reports and registration
statements filed with the SEC, including the risk factors identified in its
Annual Report on Form 10-K/A for the year ended December 31, 2003 and in its
Quarterly Report on Form 10-Q/A for the quarter ended June 30, 2004, which
can also be found on the Company's website at www.calpine.com. All information
set forth in this news release is as of today's date, and the Company
undertakes no duty to update this information.
SOURCE Calpine Corporation
media relations, Katherine Potter, +1-408-995-5115, ext. 1168,
or investors, Rick Barraza, +1-408-995-5115, ext. 1125, both of Calpine
Corporation
http://www.mmcenergy.com
