HOUSTON--(BUSINESS WIRE)--The Environmental Protection Agency’s (EPA’s) release of the Clean Power Plan represents a seminal moment for the power generation industry. Based on statements by President Obama and the EPA, it appears the plan mandates significant but achievable CO2 emissions reductions while giving the states broad discretion in how to achieve those goals. Specifically, the plan provides a framework that will allow states to adopt a market-based approach to achieving reductions, easing the states’ burden while allowing market economics to decide the best mix of generation resources to achieve the goal. Importantly, these emissions reductions will be realized in a manner that ensures continued affordable and reliable electricity. Calpine Corporation (NYSE:CPN) believes the plan, as broadly described, is a workable and achievable approach to control CO2 emissions that will benefit generations to come.
“The Clean Power Plan represents a commitment to continuing the transition from carbon-intensive generation to efficient, low-carbon generation,” said Thad Hill, President and Chief Executive Officer of Calpine. “This flexible, market-based solution will reward the companies that invest and have invested smartly in cleaner generation. We applaud the EPA for its efforts throughout this collaborative process and look forward to working with the agency, states and other stakeholders as the rule is ultimately implemented.”
Calpine believes that a strong commitment to environmentally responsible electrical generation is a key element to achieving our vision of being the premier power generation company in the United States. As the nation’s largest generator utilizing natural gas, our portfolio of assets is well positioned to help achieve these emissions reductions and sustain reliable integration of renewables.
“Given our long-standing advocacy and support for environmental stewardship,” Hill said, “I am happy to say that our modern and efficient fleet of gas fired and renewable generation stands ready to help meet the growing needs of the nation’s electric market in an environmentally responsible way.”
Calpine Corporation is America’s largest generator of electricity from natural gas and geothermal resources. Our fleet of 83 power plants in operation or under construction represents nearly 27,000 megawatts of generation capacity. Serving customers in 18 states and Canada, we specialize in developing, constructing, owning and operating natural gas-fired and renewable geothermal power plants that use advanced technologies to generate power in a low-carbon and environmentally responsible manner. Our clean, efficient, modern and flexible fleet is uniquely positioned to benefit from the secular trends affecting our industry, including the abundant and affordable supply of clean natural gas, stricter environmental regulation, aging power generation infrastructure and the increasing need for dispatchable power plants to successfully integrate intermittent renewables into the grid. We focus on competitive wholesale power markets and advocate for market-driven solutions that result in nondiscriminatory forward price signals for investors. Please visit www.calpine.com to learn more about why Calpine is a generation ahead – today.
In addition to historical information, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, 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,” “should,” “estimate,” “potential,” “project” 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 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 Dec. 31, 2014. These filings are available by visiting the Securities and Exchange Commission’s website at www.sec.gov or Calpine’s website at www.calpine.com. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. Many of these factors are beyond our ability to control or predict. Our forward-looking statements speak only as of the date of this release. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and, other than as required by law, Calpine undertakes no obligation to update any such statements, whether as a result of new information, future events, or otherwise.