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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: excardog who wrote (83566)	1/5/2001 1:18:34 PM
From: excardog	Read Replies (1) \| Respond to of 95453

Some Calpine comments on the California situation: In response to numerous questions regarding the California power market, Calpine is reiterating its commitment to help alleviate the state's current energy shortage. Calpine currently operates 26 power plants throughout northern California generating over 1,200 megawatts of electricity. Approximately 600 megawatts of this portfolio are sold under FERC approved long-term contracts to Pacific Gas & Electric Company. The balance of the generation has been sold forward in the California market to a diversified portfolio of municipal and non-utility wholesale customers with strong credit ratings. The root cause of the problem in California and other western states is a shortage of generation to meet a growing demand for electricity. In and around the state, Calpine has four plants in construction totaling over 2,500 megawatts, four power plants in announced development totaling nearly 2,900 megawatts and an additional 3,700 megawatts in late stage development. Three of the plants in construction will begin operating in 2001 to provide a much-needed 2,100 megawatts of capacity to the California marketplace. By 2006, Calpine will have over 10,000 megawatts of low cost generation in operation for California customers, or approximately 18% of anticipated demand.