Calpine Corporation Receives California Energy Commission License to Construct $300 Million Sutter Power Plant.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--April 14, 1999-- First New Power Plant Approved in California's Deregulated Power Industry; Cleanest Gas-fired Power Plant Ever Permitted in U.S. In a milestone for the California and U.S. power industries, Calpine Corporation (NYSE NYSE See: New York Stock Exchange :CPN CPN Communist Party of Nepal CPN Commercial Property News CPN Civic Practices Network CPN Calling Party Number CPN Community Psychiatric Nurse (UK) CPN Cisco Powered Network CPN Connaitre et Proteger la Nature ) today announced that the California Energy Commission The California Energy Commission is California’s primary energy policy and planning agency. Created in 1974 and headquartered in Sacramento, the Commission has responsibility for activities that include forecasting future energy needs, promoting energy efficiency through (CEC (Central Electronic Complex) The set of hardware that defines a mainframe, which includes the CPU(s), memory, channels, controllers and power supplies included in the box. Some CECs, such as IBM's Multiprise 2000 and 3000, include data storage devices as well. ) has approved the company's plan to construct a 500-megawatt natural gas-fired power plant in Sutter County near Sacramento. Calpine's $300 million Sutter Power Plant will be the first new energy facility of its kind to be permitted in California's newly deregulated energy market and will set a new environmental standard--it will be the cleanest gas-fired facility ever permitted in the U.S. "The Sutter Power Plant launches a new era for the California and national competitive power industries," said Calpine Chief Executive Officer Peter Cartwright
Cartwright added, "Californians will benefit from new, efficient energy facilities like Sutter, which utilize modern, combined-cycle technology, and are up to 35 percent more fuel-efficient than the average gas-fired utility plant. By utilizing advanced emission control The selective and controlled use of electromagnetic, acoustic, or other emitters to optimize command and control capabilities while minimizing, for operations security: a. detection by enemy sensors; b. mutual interference among friendly systems; and/or c. technologies we can also lower smog-producing emissions by up to 97 percent. And Calpine--not California ratepayers--will finance this project." The Sutter Power Plant will be built in Yuba City Yuba City (y  `bə), town (1990 pop. 27,437), seat of Sutter co., N central Calif., on the Feather River; founded 1849 during the gold rush; inc. 1908. , Calif. adjacent
to Calpine's Greenleaf 1 facility on a 16-acre site. The company
expects to begin construction this June, with commercial operation
scheduled for early 2001.
The Sutter Power Plant will provide additional local generation required in the Sacramento valley The Sacramento Valley is the portion of the California Central Valley that lies to the north of the San Joaquin-Sacramento Delta in the U.S. state of California. It encompasses all or parts of ten counties. area. Calpine will sell Sutter's electric output to wholesale and industrial customers throughout northern California under a variety of contracts tailored to meet customers' short- and long-term needs. The plant's electricity will also be sold to the Power Exchange, California's competitive wholesale power pool. Permitting Process Ensures Sutter Power Plant Will Set New Standards For Environmental Excellence The CEC's unanimous 4-0 vote to approve Calpine's Application for Certification completes a stringent environmental review process. The CEC--the lead state regulatory agency state regulatory agency A state body responsible for establishing professional standards, and for certifying professionals or organizations through appropriate documentation for the project--determined that the Sutter Power Plant will not have significant adverse impacts on local wildlife, air quality, groundwater drainage or farming operations. Calpine filed its application with the CEC in December 1997. The CEC's review was conducted jointly with the Western Area Power Administration (Western)--the lead federal agency--because the project will interconnect with Western's transmission system. This environmental review process, which involved numerous state and federal agencies, ensures that the plant will comply with all local, county, state and federal laws and regulations. On March 30, the Sutter County Board of Supervisors The examples and perspective in this article or section may represent an unduly geographically limited view of the subject. Please [ improve this article] or discuss the issue on the talk page. The Board of Supervisors is the body governing counties in the U.S. approved an amendment to the Sutter County General Plan and a local zoning change that were prerequisites for construction of the project. About Calpine Calpine is a leading independent power company dedicated to providing customers with clean, low-cost electricity and thermal energy. Calpine currently has 6,700 megawatts of capacity in operation, under construction or in development in 11 states--enough electricity for over six and a half million households. The company was founded in 1984 and is publicly traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol CPN. For more information, please visit Calpine's website at 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) changes in government regulations and anticipated deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. of the electric energy industry; (ii) commercial operations of new plants that may be delayed because of various development and construction risks, such as a failure to obtain financing and the necessary permits to operate or the failure of third-party contractors to perform their contractual obligations; (iii) the assurance that the Company will develop additional plants; (iv) the risks associated with marketing and selling power from power plants in the newly competitive energy market. Prospective investors are also referred to the other risks identified from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission. |
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