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Calpine's Morgan Energy Center Receives State and Industry Awards for Excellence in Workplace Safety and Operations & Maintenance

03/19/2008

HOUSTON & SAN JOSE, Calif.--(BUSINESS WIRE)--March 19, 2008--Calpine Corporation (NYSE:CPN) announced today that its Morgan Energy Center, located in Decatur, Ala., has received the state's highest recognition for workplace safety. The plant also received two prestigious Best Practices industry awards for excellence in Safety as well as Operations & Maintenance.

On Feb. 29, the Morgan plant received the State of Alabama Department of Industrial Relations Award of Superior Achievement for Workplace Safety. The award recognizes the plant for incurring no lost-time accidents for the past 24 or more consecutive months. In fact, employees at Morgan have now worked injury-free since before the plant entered commercial operation in 2003. Morgan is also recognized as a Star Facility under the Voluntary Protection Program administered by the U.S. Occupation Safety and Health Administration, OSHA's highest workplace safety designation.

On March 17, Combined Cycle Journal magazine announced that the Morgan Energy Center won two awards at the Combustion Turbine Operations Task Force's Turbine Users Forum in Savannah, Ga., including Best Practices awards for excellence in the categories of Operations & Maintenance and Safety. Best Practices represent reliable methods and procedures that enable plants to increase efficiency and availability and to decrease environmental impact and the cost of electricity production on a predictable and repeatable basis.

According to Mike Rogers, Calpine's Senior Vice President and President of Power Operations, "The Morgan Energy Center continues to exemplify Calpine's ongoing commitment to the highest standards of operational excellence. I congratulate the Morgan team for the well-deserved distinctions they have received from the state of Alabama and their industry peers."

The 800-megawatt plant produces both steam and electricity and is known as a Combined Heat and Power (CHP) facility. The simultaneous production of power and steam uses less energy than would be required by two stand alone units, resulting in 60 percent greater overall fuel efficiency. This also significantly reduces the plant's environmental footprint through the reduction in related air emissions.

Calpine is the largest owner and operator of CHP facilities in the U.S., with nearly 8,000 megawatts of CHP capacity in operation, representing approximately 33 percent of its nation-wide fleet of power generation facilities.

About Calpine

Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, currently capable of delivering approximately 24,000 megawatts of clean, cost-effective, reliable, and fuel-efficient electricity to customers and communities in 18 states in the United States. Calpine owns, leases, and operates low-carbon, natural gas-fired, and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit http://www.calpine.com for more information.

Forward Looking Statement

In addition to historical information, this release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. 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 all 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. Such risks and uncertainties include, but are not limited to: (i) Calpine's ability to implement its business plan; (ii) financial results that may be volatile and may not reflect historical trends; (iii) seasonal fluctuations of results and exposure to variations in weather patterns; (iv) potential volatility in earnings associated with fluctuations in prices for commodities such as natural gas and power; (v) ability to manage liquidity needs and comply with covenants related to the Exit Credit and Bridge Facilities and other existing financing obligations; (vi) Calpine's ability to complete the implementation of its Plan of Reorganization and the discharge of its chapter 11 cases including successfully resolving any remaining claims; (vii) disruptions in or limitations on the transportation of natural gas and transmission of electricity; (viii) the expiration or termination of power purchase agreements and the related results on revenues; (ix) risks associated with the operation of power plants including unscheduled outages; (x) factors that impact the output of Calpine's geothermal resources and generation facilities, including unusual or unexpected steam field well and pipeline maintenance and variables associated with the waste water injection projects that supply added water to the steam reservoir; (xi) risks associated with power project development and construction activities; (xii) ability to attract, retain and motivate key employees including filling certain significant positions within Calpine's management team; (xiii) ability to attract and retain customers and counterparties; (xiv) competition; (xv) risks associated with marketing and selling power from plants in the evolving energy markets; (xvi) present and possible future claims, litigation and enforcement actions; (xvii) effects of the application of laws or regulations, including changes in laws or regulations or the interpretation thereof; and (xviii) other risks identified from time-to-time in Calpine's reports and registration statements filed with the SEC, including, without limitation, the risk factors identified in its Annual Report on Form 10-K for the year ended December 31, 2007. 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. Unless specified otherwise, all information set forth in this release is as of today's date and Calpine undertakes no duty to update this information. For additional information about Calpine's chapter 11 reorganization or general business operations, please refer to Calpine's Annual Report on Form 10-K for the fiscal year ended December 31, 2007, and any other recent Calpine report to the Securities and Exchange Commission. These filings are available by visiting the Securities and Exchange Commission's website at http://www.sec.gov or Calpine's website at http://www.calpine.com.

CONTACT: Calpine Corporation, Houston
Media Relations:
Mel Scott, 713-570-4553
scottm@calpine.com
or
Investor Relations:
Norma Dunn, 713-830-8883
norma.dunn@calpine.com

SOURCE: Calpine Corporation