UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 3, 2004
CALPINE CORPORATION
(A Delaware Corporation)
Commission File Number: 001-12079
I.R.S. Employer Identification No. 77-0212977
50 West San Fernando Street
San Jose, California 95113
Telephone: (408) 995-5115
ITEM 5. OTHER EVENTS
NEWS RELEASE CONTACTS: 408-995-5115
Media Relations: Bill Highlander, Ext. 1244
Katherine Potter, Ext. 1168
Investor Relations: Rick Barraza, Ext. 1125
Calpine Comments on Solutia Contracts
(SAN JOSE, Calif.) /PR Newswire - First Call/ June 3, 2004 - Calpine
Corporation [NYSE:CPN] and Solutia, Inc. recently negotiated a preliminary
settlement agreement, ensuring Calpine's continued operation of the 690-megawatt
Decatur Energy Center located on Solutia's chemical facility in Decatur, Ala.
Solutia filed for Chapter 11 bankruptcy in December of 2003. The settlement
agreement has been approved by the United States Bankruptcy Court Southern
District of New York.
Calpine also agreed to Solutia's rejection of agreements primarily related
to the supply of power and steam to Solutia. Calpine retains the option to file
claims for damages related to these agreements with the bankruptcy court.
The Decatur Energy Center began operations in June 2002, originally
providing steam and up to 140 megawatts of electricity to Solutia. The Decatur
plant continues to supply 500 megawatts of capacity and up to 500 megawatts of
on-peak associated energy to the Tennessee Valley Authority through May 2007.
Calpine Corporation 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 was founded in 1984 and is publicly
traded on the New York Stock Exchange under the symbol CPN. For more
information, visit 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 forwardlooking 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, 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 Form 10-Q for the quarter ended March 31, 2004, which can also
be found on the Company's website at 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.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CALPINE CORPORATION
By: /s/ Charles B. Clark, Jr.
-------------------------
Charles B. Clark, Jr.
Senior Vice President and Controller
Chief Accounting Officer
Date: June 9, 2004