The Environmental Protection Agency’s (EPA’s) release of the Clean Power
Plan represents a seminal moment for the power generation industry.
Based on statements by President Obama and the EPA, it appears the plan
mandates significant but achievable CO2 emissions reductions
while giving the states broad discretion in how to achieve those goals.
Specifically, the plan provides a framework that will allow states to
adopt a market-based approach to achieving reductions, easing the
states’ burden while allowing market economics to decide the best mix of
generation resources to achieve the goal. Importantly, these emissions
reductions will be realized in a manner that ensures continued
affordable and reliable electricity. Calpine Corporation (NYSE:CPN)
believes the plan, as broadly described, is a workable and achievable
approach to control CO2 emissions that will benefit
generations to come.
“The Clean Power Plan represents a commitment to continuing the
transition from carbon-intensive generation to efficient, low-carbon
generation,” said Thad Hill, President and Chief Executive Officer of
Calpine. “This flexible, market-based solution will reward the companies
that invest and have invested smartly in cleaner generation. We applaud
the EPA for its efforts throughout this collaborative process and look
forward to working with the agency, states and other stakeholders as the
rule is ultimately implemented.”
Calpine believes that a strong commitment to environmentally responsible
electrical generation is a key element to achieving our vision of being
the premier power generation company in the United States. As the
nation’s largest generator utilizing natural gas, our portfolio of
assets is well positioned to help achieve these emissions reductions and
sustain reliable integration of renewables.
“Given our long-standing advocacy and support for environmental
stewardship,” Hill said, “I am happy to say that our modern and
efficient fleet of gas fired and renewable generation stands ready to
help meet the growing needs of the nation’s electric market in an
environmentally responsible way.”
Calpine Corporation is America’s largest generator of electricity from
natural gas and geothermal resources. Our fleet of 83 power plants in
operation or under construction represents nearly 27,000 megawatts of
generation capacity. Serving customers in 18 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, 2014.
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.
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