CPN: NYSE 15.10
-0.03 -0.17% Volume: 1,741,349 January 22, 2018
America’s Premier Power Generation Company
... Creating Power for a Sustainable Future

Calpine Provides Update on Hurricane Harvey’s Impact on Southeast Texas Operations


HOUSTON--(BUSINESS WIRE)-- Calpine Corporation (NYSE: CPN) today reported that its fleet of flexible and modern natural gas-fired, combined-cycle power plants has performed well during the recent sustained weather event caused by Hurricane Harvey. Despite very difficult conditions, the vast majority of Calpine’s approximately nine gigawatts of Texas generating capacity is available for dispatch, and the balance is expected to be back online within the next few days with no material damage reported.

“At Calpine, our employees’ safety is always our number one concern, while we work to ensure grid reliability,” said Thad Hill, President and CEO. “As of this morning, we are thankful to report that all of our employees are accounted for and safe. Unfortunately, many have suffered substantial property loss and we are working to support them during this difficult time.”

Calpine’s downtown Houston headquarters was closed due to flooding, but the Company was well prepared with backup teams stationed in Austin, Dallas and another location in Houston and was able to continue supporting its plants and wholesale and retail customers across the nation.

“Our plants fared well and our corporate operations continued in an efficient and orderly manner thanks to sound planning and, most of all, the professionalism and dedication of our team,” continued Mr. Hill. “I would like to offer my sincerest thanks for the hard work and sacrifice of our employees who have performed well under very trying circumstances.”

About Calpine

Calpine Corporation is America’s largest generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Our fleet of 80 power plants in operation or under construction represents approximately 26,000 megawatts of generation capacity. Through wholesale power operations and our retail businesses Calpine Energy Solutions and Champion Energy, we serve customers in 25 states, Canada and Mexico. Our clean, efficient, modern and flexible fleet uses advanced technologies to generate power in a low-carbon and environmentally responsible manner. We are uniquely positioned to benefit from the secular trends affecting our industry, including the abundant and affordable supply of clean natural gas, environmental regulation, aging power generation infrastructure and the increasing need for dispatchable power plants to successfully integrate intermittent renewables into the grid. Please visit www.calpine.com to learn more about how Calpine is creating power for a sustainable future.

Forward-Looking Information

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, 2016. 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.

Source: Calpine Corporation

Calpine Corporation

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