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CALIFORNIA PUC CLIMATE CHANGE EN BANC San Francisco, CA

CALIFORNIA PUC CLIMATE CHANGE EN BANC San Francisco, CA. PETE CARTWRIGHT President and Chief Executive Officer. CALPINE OVERVIEW. Power Portfolio Operation 26,500 mw Construction 5,500 mw Development 16,000 mw TOTAL 48,000 mw Fuel Natural Gas 98% Geothermal 2%. NPCC-O. NPCC-NE.

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CALIFORNIA PUC CLIMATE CHANGE EN BANC San Francisco, CA

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  1. CALIFORNIA PUC CLIMATE CHANGE EN BANCSan Francisco, CA PETE CARTWRIGHTPresident and Chief Executive Officer

  2. CALPINE OVERVIEW • Power Portfolio • Operation 26,500 mw • Construction 5,500 mw • Development 16,000 mw • TOTAL 48,000 mw • Fuel • Natural Gas 98% • Geothermal 2% CA PUC Climate Change

  3. NPCC-O NPCC-NE NPCC-NY CALPINE U.S. POWER PORTFOLIO MAPP WECC MAAC ECAR MAIN UK SPP SERC ERCOT MEXICO FRCC In Operation – Gas-Fired (73 plants) In Operation – Geothermal (19 plants) Under Construction (11 plants) not to scale CA PUC Climate Change

  4. CALPINE IN CALIFORNIA • Power Portfolio • Operation 3,900 mw • Construction 2,000 mw • Development 3,800 mw • TOTAL 9,700 mw • Fuel • Natural Gas 92% • Geothermal 8% CA PUC Climate Change

  5. CA PUC Climate Change

  6. CO2 EMISSIONS —COAL vs. NATURAL GAS CA PUC Climate Change

  7. CLIMATE CHANGE —WHAT CALPINE IS DOING • Board Low-Carbon Resolution • Concentration on Natural Gas • Efficiency Improvements • Cogeneration Program • Natural Gas Supply • Geothermal and Renewables • Solid Fuel Gasification and Sequestration CA PUC Climate Change

  8. WHAT THE UNITED STATES CAN DO • Modernize its Power Plant Fleet • Shut Down Half of Old Coal-Fired Plants —442.6 Million mwh • Shut Down All Old Gas-Fired Plants —169.2 Million mwh • Replace With New Gas-Fired Plants +611.8 Million mwh CA PUC Climate Change

  9. ECONOMIC CONSEQUENCES • Gas Consumption Increases by ~ 2.5 tcf/Year • Cost of Electricity Roughly Unchanged • Fuel Cost: +$3.6 Billion Per Year • CO2 Offsets: —$3 Billion Per Year • Adequate Gas-Fired Generation is Available CA PUC Climate Change

  10. ENVIRONMENTAL CONSEQUENCES 326 Million Tons Per Year CA PUC Climate Change

  11. IMPACT OF CO2 REDUCTION • 326 Million Tons Per Year • Equals Emissions From 57 Million Cars • 87% of Bush’s 2012 Goals • 35% of McCain-Lieberman 2010 Goals • 15% of Kyoto 2010 Goals CA PUC Climate Change

  12. WHAT CALIFORNIA CAN DO • Encourage: • Energy Efficiency • Renewables • Encourage Natural Gas Generation • Shut Down Old Gas-Fired Plants • Eliminate Reliance on Out-of-State Coal Plants • Build LNG Terminals • Promote Open Competitive Markets CA PUC Climate Change

  13. WHAT CALIFORNIA CAN DO (continued) • Shut Down Old Gas-Fired Plants —40.8 Million mwh • Stop Importing Coal-Fired Power —59.0 Million mwh • Additional Renewables to Meet 20% Goal +26.6 Million mwh • Add Modern Gas-Fired Plants +73.2 Million mwh CO2 Reduction Potential — 60 Million Tons Per Year CA PUC Climate Change

  14. CALPINE

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