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Calpine Corporation Names Jim D. Deidiker Senior Vice President and Chief Accounting Officer

01/08/2009

HOUSTON & SAN JOSE, Calif., Jan 08, 2009 (BUSINESS WIRE) -- Calpine Corporation (NYSE:CPN) today announced that Jim D. Deidiker has been named Senior Vice President and Chief Accounting Officer.

"With more than 30 years of financial, accounting and management experience, much of which has been in the energy industry, Jim brings a wealth of knowledge and expertise to our company," said Zamir Rauf, Chief Financial Officer and Executive Vice President. "Jim has worked closely in the past with several of our senior executives, and I am confident that he will be a valuable and effective member of our management team."

Previously, Mr. Deidiker served as Vice President and Controller at Texas Genco. Prior to that, he was Managing Director and Vice President, Administration at AEP Energy Services, Inc., and also held accounting and financial positions at Basis Petroleum, Inc., Enron Corporation and UPG Falco, Inc. In addition, he worked as a research assistant and lecturer at Texas A&M University.

Mr. Deidiker earned a Bachelor of Science degree in accounting from Southwest Missouri State University and a master's degree in business administration-finance from the University of Houston. He also completed research and coursework toward a doctoral degree in accounting from Texas A&M University. He is a Certified Public Accountant in Texas and a Certified Management Accountant.

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 over 24,000 megawatts of clean, cost-effective, reliable and fuel-efficient electricity to customers and communities in 16 states in the United States and Canada. Calpine owns, leases, and operates low-carbon, natural gas-fueled, 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 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 December 31, 2007, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2008. These filings are available by visiting the Securities and Exchange Commission's web site at www.sec.gov or Calpine's web site 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.

SOURCE: Calpine Corporation

Calpine Corporation
Media Relations:
Mel Scott, 713-570-4553
scottm@calpine.com
or
Investor Relations:
Andre Walker, 713-830-8775
andrew@calpine.com