Calpine Shares Commence 'Regular Way' Trading on NYSE
February 07 2008 - 8:53AM
PR Newswire (US)
Company to Ring Opening Bell at New York Stock Exchange SAN JOSE,
Calif. and HOUSTON, Feb. 7 /PRNewswire-FirstCall/ -- Calpine
Corporation (NYSE:CPN) today resumes "regular way" trading of the
Company's newly issued stock on the New York Stock Exchange (NYSE)
under the symbol "CPN." Company officials will ring the NYSE
opening bell on Feb. 8, 2008, to commemorate its relisting and
successful emergence from Chapter 11. "Calpine is proud to once
again be traded on the New York Stock Exchange," said Robert P.
May, Calpine's Chief Executive Officer. "We have streamlined our
operations and strengthened our balance sheet, and we are returning
to the NYSE as a stronger and more competitive power company with
one of the cleanest generating fleets in the United States. We are
confident that the new Calpine is well positioned in the market and
poised for success as a corporate leader in the nation's energy
industry." Webcast Information Calpine's ringing of The Opening
Bell(SM) will be available via live and archived webcast as
follows: (The live link will become active at approximately 9:25
a.m. EST. The archive link will become active approximately two
hours after the event and then will remain available for a period
of two years.) Live --
http://mfile.akamai.com/7096/live/reflector:57489.asx?bkup=59611&prop=n
Archive --
http://mfile.akamai.com/7096/wmv/nyse.download.akamai.com/7096/Obell-
02082008.asx Webcast links also will be posted on
http://www.nyse.com/ Calpine Facts-At-A-Glance Calpine re-initiates
trading on the NYSE as one of the largest power generation
companies in the United States, with nearly 24,000 megawatts of
installed generating capacity and approximately 2,200 employees.
Calpine owns and operates a world-class fleet of 80 modern power
plants and also is engaged in full-scale construction activities at
its 590-megawatt Otay Mesa project in San Diego, Calif., and is a
50 percent equity partner in the 1,000-megawatt Greenfield Energy
Centre, currently under construction in Ontario, Canada. Calpine's
power generating assets are located in key market regions
throughout the U.S. with an emphasis on high-growth competitive
wholesale power markets in California and Texas. Calpine owns and
operates the nation's largest fleet of renewable geothermal
generation assets located at The Geysers, in northern California,
as well as the country's largest fleet of highly efficient
combined-heat-and-power (CHP) facilities. Calpine's natural
gas-fired power plants are modern, highly efficient generating
units with excellent environmental characteristics. On average,
Calpine's plants emit half as much CO2 per megawatt-hour as a
typical coal-fired power plant. Calpine Corporation is helping meet
the needs of an economy that demands more and cleaner sources of
electricity. Founded in 1984, Calpine is a major U.S. power
company, currently capable of delivering nearly 24,000 megawatts of
clean, cost-effective, reliable, and fuel-efficient electricity to
customers and communities in 18 states in the United States. The
company owns, leases, and operates low-carbon, natural gas-fired,
and renewable geothermal power plants. Using advanced technologies,
Calpine generates electricity in a reliable and environmentally
responsible manner for the customers and communities it serves.
Please visit http://www.calpine.com/ for more information. Forward
Looking Information: In addition to historical information, this
release contains forward- looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the Exchange
Act. We use words such as "believe," "intend," "expect,"
"anticipate," "plan," "may," "will" and similar expressions to
identify forward-looking statements. Such statements include, among
others, those concerning our expected financial performance and
strategic and operational plans, as well as all 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. Such
risks and uncertainties include, but are not limited to: (i) the
risks and uncertainties associated with our Chapter 11 cases and
Companies' Creditors Arrangement Act (CCAA) proceedings of certain
of Calpine's Canadian affiliates, including our ability to
successfully reorganize and emerge from Chapter 11; (ii) our
ability to implement our business plan; (iii) financial results
that may be volatile and may not reflect historical trends; (iv)
seasonal fluctuations of our results; (v) potential volatility in
earnings associated with fluctuations in prices for commodities
such as natural gas and power; (vi) our ability to manage liquidity
needs and comply with covenants related to our existing financing
obligations and anticipated exit financing; (vii) the direct or
indirect effects on our business of our impaired credit including
increased cash collateral requirements in connection with the use
of commodity contracts; (viii) transportation of natural gas and
transmission of electricity; (ix) the expiration or termination of
our power purchase agreements and the related results on revenues;
(x) risks associated with the operation of power plants including
unscheduled outages; (xi) factors that impact the output of our
geothermal resources and generation facilities, including unusual
or unexpected steam field well and pipeline maintenance and
variables associated with the waste water injection projects that
supply added water to the steam reservoir; (xii) risks associated
with power project development and construction activities; (xiii)
our ability to attract, retain and motivate key employees; (xiv)
our ability to attract and retain customers and contract
counterparties; (xv) competition; (xvi) risks associated with
marketing and selling power from plants in the evolving energy
markets; (xvii) present and possible future claims, litigation and
enforcement actions; (xviii) effects of the application of laws or
regulations, including changes in laws or regulations or the
interpretation thereof; and (xix) other risks identified from
time-to-time in Calpine's reports and registration statements filed
with the SEC, including, without limitation, the risk factors
identified in its Annual Report on Form 10-K for the year ended
December 31, 2006 and Quarterly Reports on Form 10-Q. Actual
results or developments may differ materially from the expectations
expressed or implied in the forward-looking statements and Calpine
undertakes no obligation to update any such statements. Unless
specified otherwise, all information set forth in this release is
as of today's date and Calpine undertakes no duty to update this
information. For additional information about Calpine's chapter 11
reorganization or general business operations, please refer to
Calpine's Annual Report on Form 10-K for the fiscal year ended
December 31, 2006, Calpine's Quarterly Reports on Form 10-Q, and
any other recent Calpine report to the Securities and Exchange
Commission. These filings are available by visiting the Securities
and Exchange Commission's website at http://www.sec.gov/ or
Calpine's website at http://www.calpine.com/. DATASOURCE: Calpine
Corporation CONTACT: Media Relations, Mel Scott, +1-713-570-4553, ,
or Investor Relations, Norma Dunn, +1-713-830-8883, , both of
Calpine Corporation Web site: http://www.calpine.com/
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