New company to offer regionally-focused resource of clean, reliable electricity and energy services

ATLANTA, Feb. 23, 2005 (PR Newswire) — NewSouth Energy LLC, a newly formed subsidiary of Calpine Corporation, has launched an energy venture in Atlanta, Ga. to better focus on wholesale power customers and energy markets in the South. With access to Calpine’s fleet of clean, fuel-efficient power plants, technical capabilities, and power products and services, NewSouth Energy will help to meet the real-time and long-term energy requirements of its customers, including utilities and other load-serving entities.

NewSouth Energy’s service territory spans 11 southeastern states. The company will serve customers through a network of more than 7,000 megawatts of energy-efficient and environmentally responsible natural gas-fired power plants in operation or under construction in the South. This includes approximately 3,000 megawatts of cogeneration energy that supports the manufacturing of a variety of industrial and consumer products ranging from plastics to orange juice.

“We are excited about the creation of NewSouth Energy. This new energy company reinforces Calpine’s commitment to customers throughout the South. Its mission is to meet their strategic and diverse energy needs in this dynamic power region,” stated Peter Cartwright, chairman, CEO and president of Calpine. “We’ve brought together a seasoned and talented team with in-depth experience in every aspect of power generation. They bring to customers years of experience in serving some of the largest regulated and unregulated energy companies in the South.”

Michael Bradley, president of NewSouth Energy said, “By realigning resources and increasing efficiencies, we are now able to focus our efforts solely on providing immediate and long-term value to our customers in the South.

“NewSouth Energy’s primary strength is our team’s experience in serving these evolving power markets,” continued Bradley. “We are from the South. We live and work in the areas we represent in the South. And we know our customers and understand their unique energy needs.

“The energy assets NewSouth Energy supports will complement current and future energy needs. We are committed to working creatively and cooperatively to help secure the energy future of one of the fastest growing regions in the country.”

NewSouth Energy

NewSouth Energy LLC, headquartered in Atlanta, Ga., serves wholesale power customers in all or parts of Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia. It offers a wide range of cost-effective and environmentally responsible power generation, energy products and services. NewSouth Energy also has offices in Flora, Miss.; Tampa, Fla.; and Houston, Texas.

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