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Gold/Mining/Energy : CPN: Calpine Corporation
FRO 23.73+1.7%Nov 6 3:59 PM EST
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To: John Curtis who wrote (395)4/23/2002 11:01:07 AM
From: Keith Monahan  Read Replies (1) of 555
 
Calpine renegotiated two 10-year deals with the state, both of which will now run for just eight years. It also renegotiated a 20-year power deal, which will now just run for 10 years."

"Calpine also agreed to reduce the energy price on one ten-year baseload contract from $61.00 to $59.60 per megawatt-hour"

Wow, that was some tough negotiating by the CDWR. One of four contract rates reduced nominally and the rest of the "savings" coming from shortening the length of the contracts.

Looks like CPN got the best of this deal.
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