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APX Selected by Calpine to Schedule Geothermal Power to the California Independent System Operator.

CUPERTINO, Calif.--(BUSINESS WIRE)--July 2, 1999--

Automated Power Exchange Inc. (APX) announced today that it has been selected by Calpine Corp. (NYSE:CPN) to schedule power deliveries from 15 of Calpine's geothermal power plants to the California Independent System Operator (Cal-ISO).

Located at The Geysers in Sonoma and Lake counties, Calif., the plants generate more than 700 megawatts. Calpine assumed operation of these plants on May 7, 1999. Since then, APX has been scheduling deliveries from 14 of these plants to the Cal-ISO, which controls the long-distance, high-voltage power lines that deliver electricity throughout California and the adjacent region.

"We determined that APX offers the most comprehensive and competitively priced package," said Jake Rudisill, Calpine's Western Region vice president. "We have been using APX since July 1998 when we started selling the output of our first plant on the open market. APX is extremely responsive to our needs, which now include scheduling ancillary services and handling reliability must-run calls from the ISO for six of our units."

Calpine, a nationwide independent power company based in San Jose, Calif., chose APX as its geo-thermal scheduling coordinator after evaluating services offered by the major scheduling coordination firms in California. APX is a certified power scheduling coordinator in California.

As an intermediary between the Cal-ISO and electricity generators, retailers, and end users, a scheduling coordinator submits balanced schedules for delivery of electricity to match supply with demand. The Cal-ISO uses the schedules to maintain reliability and manage congestion on the power grid.

Calpine is selling output from these plants through the APX Electricity and Green Power Markets to energy service providers and end users. APX also provides Calpine with an automated interface to submit bids to the California Power Exchange.

Edward Cazalet, APX chief executive officer, said, "The transaction volume from these additional Calpine units contributes to the growing liquidity of our electricity and green power markets. We are pleased to support Calpine, which is positioned to be one of the major success stories of the deregulated market."

Rudisill added, "We look forward to continuing to receive a premium for our geothermal power through the APX Green Power Market. We expect APX's Green Ticket approach to meet the needs of buyers wanting to purchase specific types of renewable power."

APX operates Internet-based exchanges for the buying and selling of electricity, energy transmission, and related products. The company operates the APX California Markets(TM) and the APX Green Power Market(TM), and is opening markets in Ohio, New York, and Washington in 1999. The APX automated interface also allows electricity generators and retailers to access many other markets. Founded in 1996, APX is a privately held company based in Cupertino. For more information, visit www.apx.com.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 2, 1999
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