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Press release from Business Wire

Emissions Benchmarking Report Illustrates Calpine's Environmental Leadership

Thursday, May 16, 2013

Emissions Benchmarking Report Illustrates Calpine's Environmental Leadership

18:58 EDT Thursday, May 16, 2013

HOUSTON (Business Wire) -- Calpine Corporation (NYSE:CPN) is one of the nation's largest generators of electricity and, according to a report issued this week, it is among the cleanest. A report by M.J. Bradley & Associates analyzes 2011 power generation and air emissions data for the top 100 power producers in the United States, including investor-owned utilities, independent power producers, and governmental power authorities and utilities districts. The report shows that Calpine, listed as the tenth largest power producer overall and the largest independent power producer, was ranked among the lowest in air emissions rates – 81st for sulfur dioxide, 82nd for nitrogen oxides and 89th for carbon dioxide – among all fossil fuel fleets. In addition, because Calpine's fossil fuel fleet consists of clean, efficient and flexible natural gas-fired plants, it had no mercury emissions.

Calpine's combined-cycle, natural-gas fired plants not only provide power but have the flexibility critical to the integration of intermittent renewable-sourced power into the grid. Calpine's highly efficient natural gas-fired cogeneration plants are partners to American industry, providing steam and power for operations ranging from fruit drying, to airport and university heating and cooling, to petrochemical production. Finally, Calpine's geothermal fleet, unlike intermittent renewables such as wind and solar, provides renewable-sourced power all day, every day.

“Since Calpine's inception, environmental stewardship has been a guiding principle in everything we do. The report notes that the power industry overall has cut NOx and SO2 emissions while increasing production and Calpine is proud to have been a leader of this trend. We believe a strong commitment to the environment is inextricably linked to excellence in power generation, corporate responsibility and shareholder value and we have invested accordingly,” said Calpine's Chief Executive Officer Jack Fusco. “Calpine is well positioned to continue benefiting from factors identified by M.J. Bradley & Associates as the underlying cause of emission reductions – greater use of plentiful and affordable cleaner-burning natural gas as older coal plants that do not have upgraded environmental controls are retired. Our existing fleet has additional production capacity poised to meet the need for power that will come as older coal plants retire and power demand increases with an improving economy.”

The report, Benchmarking Air Emissions of the 100 Largest Electric Power Producers in the United States, was commissioned by a group of power producers along with the Natural Resources Defense Council, CERES and Bank of America.

About Calpine

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 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, 2012. 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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