Calpine Names Todd Thornton Vice President

Calpine Corporation (NYSE:CPN) has announced the appointment of Todd Thornton as Treasurer. Mr. Thornton, who has been serving as Vice President, Finance since February 2007, will now hold the title of Vice President – Finance & Treasurer.

“We are fortunate to have someone of Todd’s caliber assume the Treasurer position,” said Zamir Rauf, Executive Vice President and Chief Financial Officer for Calpine. “In addition to his meaningful corporate and project finance experience, Todd has a deep understanding of the independent power generation business and has demonstrated strong leadership skills. These attributes make him particularly well suited to help Calpine achieve its vision of being the premier independent power company in the U.S.”

Mr. Thornton began his career in the independent power sector in 1999 and, in 2000, joined Calpine where he has held increasingly responsible positions within the Finance Department including Manager, Project Finance; Director, Regional Finance; and Vice President, Finance. He earned a Bachelor of Science degree in Finance from Northern Illinois University and holds the Chartered Financial Analyst designation.

About Calpine

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 more than 24,000 megawatts of clean, cost-effective, reliable and fuel-efficient electricity to customers and communities in 16 states in the United States and Canada. Calpine 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 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 of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "believe," "intend," "expect," "anticipate," "plan," "may," "will" and similar expressions identify forward-looking statements. Such statements include, among others, those concerning expected financial performance and strategic and operational plans, as well as 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 Calpine Names Todd Thornton Vice President, Finance and Treasurer results to differ materially from those anticipated in the forward-looking statements. Please see the risks identified in this release or in Calpine's reports and registration statements filed with the Securities and Exchange Commission, including, without limitation, the risk factors identified in its Annual Report on Form 10-K for the year ended December 31, 2008, and its Quarterly Report on Form 10-Q for the quarter ended June 30. These filings are available by visiting the Securities and Exchange Commission's web site at www.sec.gov or Calpine's web site at www.calpine.com. 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.

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