Calpine to further reduce greenhouse gas emissions rate

SAN JOSE, Calif., May 13, 2005 (PRNewswire-First Call) — Calpine Corporation, a leader in environmentally preferred power generation and member of the U.S. EPA Climate Leaders, is pledging to further improve its low-carbon emissions profile.

Jeffrey R. Holmstead, EPA assistant administrator for the Office of Air and Radiation, stated, “EPA applauds Calpine for its environmental leadership through its commitment to reduce its greenhouse emissions rate.”

Calpine’s goal is, by 2008, to reduce its greenhouse gas (GHG) efficiency-based emissions rate (pounds of GHG emitted/megawatt-hour of electricity generated) by four-percent from 2003 levels. Compared to the average fossil-fueled power plant in the United States, Calpine’s combined-cycle, natural gas-fired units on average release nearly 54-percent less carbon dioxide (CO2) – the principal greenhouse gas.

Kathleen Hogan, director of EPA’s Climate Protection Partnership Division, added, “Calpine’s commitment to the environment is reflected in its power generation portfolio and its policy to invest in and promote clean power generation technologies. EPA commends Calpine for its pledge to further improve its low-carbon profile. Calpine is demonstrating that power companies can generate electricity reliably while significantly decreasing emissions and conserving natural resources.”

Calpine is enhancing its operations and maintenance program and has patented new technologies to improve the fuel efficiency of natural gas-fired combustion turbines. Calpine has successfully completed its 2003 U.S. GHG emissions inventory, which is a requirement for participation in the Climate Leaders program. In addition, Calpine voluntarily agreed to certification of its inventory by an independent qualified third party.

“Calpine’s modern fossil-fuel power fleet is already one of the most efficient of its size in the nation, thus opportunities to reduce actual GHG emissions are limited,” stated Calpine’s Vice President of Safety, Health and Environment Neal Pospisil. “Despite that achievement, we aren’t stopping there. We’ve pioneered several plant performance improvement initiatives to achieve our GHG goal. And working with the EPA to establish an accurate accounting of our carbon emissions and baseline GHG intensity index is one of the first steps toward achieving our goal.”

About Climate Leaders [ ]

Climate Leaders is an EPA industry-government partnership that works with companies to develop long-term comprehensive climate change strategies. Partners set a corporate-wide greenhouse (GHG) reduction goal and inventory their emissions to measure progress. By reporting inventory data to EPA, Partners create a lasting record of their accomplishments. Partners also identify themselves as corporate environmental leaders and strategically position themselves as climate change policy continues to unfold. Climate Leaders Partners come from a variety of sectors, from heavy manufacturing to banking and retail.

About Calpine [ ]

A major power company, Calpine Corporation supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and three Canadian provinces. Its customized products and services include wholesale and retail electricity, natural gas, gas turbine components and services, energy management, and a wide range of power plant engineering, construction and operations services. Calpine was founded in 1984. It is included in the S&P 500 Index and is publicly traded on the New York Stock Exchange under the symbol CPN.

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