Calpine Signs Energy Agreement with Reliant Energy

October 26, 2003 by Jeff Shepard

Calpine Corp. (San Jose, CA) has finalized a two-year agreement to supply electricity to Reliant Energy Electric Solutions LLC (Houston, TX). Under the terms of the agreement, Calpine will supply 150MW beginning January 1, 2004, increasing to 250MW on January 1, 2005.

Calpine's energy agreement is designed to provide Reliant with daily scheduling flexibility and access to Calpine's fully integrated system in Texas including 11 energy-efficient power plants, totaling approximately 6,400MW. Calpine's facilities are strategically located throughout the Electric Reliability Council of Texas. Reliant will pay Calpine a fixed capacity payment and a variable energy payment for electricity purchased.