28.7.2004: Meldung: Calpine Signs Long-Term Deal With Snapping Shoals

Calpine, one of North America""s leading power companies, today announced that it has signed a long-term power supply agreement for an initial five years with a renewable term with Snapping Shoals Electric Membership Corporation (EMC) for 200 megawatts of capacity and energy. Calpine will deliver clean, reliable electricity, per this agreement, from its Hog Bayou Energy Center located in Mobile, Alabama starting on January 1, 2005.

Randall G. Meadows, president and CEO of Snapping Shoals EMC said, "We are starting what we hope will be a long relationship with Calpine. As one of our power suppliers, they will contribute to helping keep our customers"" rates as low as possible."

Energy Consulting Group (ECG) negotiated this transaction on behalf of Snapping Shoals EMC. "The Calpine contract is a cost effective addition to Snapping Shoals EMC""s power supply portfolio," said Anis Sherali, president and CEO of ECG. "Our evaluations have demonstrated that this power purchase meets our client""s supply diversification and financial goals."

Tim Eves, vice president of marketing and sales for Calpine said, "We are extremely pleased to have completed this deal with Snapping Shoals EMC and ECG. This agreement further demonstrates how Calpine and competitive wholesale power suppliers are helping cooperatives to diversify their power portfolios, better manage risks and lower costs for their customers.

Snapping Shoals Electric Membership Corporation is a non-profit, consumer-owned cooperative headquartered in Covington, GA, southeast of Atlanta. Snapping Shoals EMC serves over 80,000 customers in an eight county area that is one of the fastest growing regions in Georgia. Snapping Shoals EMC has been serving this area for 65 years, and during that time has built a strong reputation for providing reliable power and excellent customer service. For more information, please visit http://www.ssemc.com/.

Energy Consulting Group, LLC (ECG) is a professional services firm that provides advisory services and technical analysis to a wide range of clients in the energy sector. ECG staff includes highly qualified professionals who average more than 17 years experience in the energy industry, all of which have been employed with electric and gas utilities and other top tier consulting firms. ECG offers a broad range of services to the energy industry including power supply planning, risk management, financial and rate analysis and business process improvement. For more information, please visit http://www.ecg-llc.com/.

About Calpine

Calpine Corporation, celebrating its 20th year in power in 2004, is a leading North American power company dedicated to providing electric power to customers from clean, efficient, natural gas-fired and geothermal power plants. The company generates power at plants it owns or leases in 21 states in the United States, three provinces in Canada and in the United Kingdom. Calpine is also the world""s largest producer of renewable geothermal energy, and owns or controls approximately one trillion cubic feet equivalent of proved natural gas reserves in the United States and Canada. The company is listed on the S&P 500 and was named FORTUNE""s 2004 Most Admired Energy Company. The company was founded in 1984 and is publicly traded on the New York Stock Exchange under the symbol CPN. For more information, visit http://www.calpine.com/.

This news release discusses certain matters that may be considered "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, including statements regarding the intent, belief or current expectations of Calpine Corporation ("the Company") and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results such as, but not limited to, (i) the timing and extent of deregulation of energy markets and the rules and regulations adopted on a transitional basis with respect thereto; (ii) the timing and extent of changes in commodity prices for energy, particularly natural gas and electricity; (iii) unscheduled outages of operating plants; (iv) a competitor""s development of lower cost generating gas-fired power plants; (v) risks associated with marketing and selling power from power plants in the newly-competitive energy market and; (vi) other risks identified from time-to-time in the Company""s reports and registration statements filed with the SEC, including the risk factors identified in its Annual Report on Form 10-K for the year ended December 31, 2003 and in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2004, which can also be found on the Company""s website at http://www.calpine.com/. All information set forth in this news release is as of today""s date, and the Company undertakes no duty to update this information.

Calpine Corporation
50 West San Fernando Street
San Jose, CA 95113
Phone: 408.995.5115
Fax: 408.995.0505
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