Calpine reports 2nd quarter results

In Texas, Calpine Corp. reported that it produced 19.2 million MWh of power in the second quarter of 2010, a 4% increase over the same quarter in 2009, while noting a $162 million of net loss. The company closed the acquisition of the Conectiv fleet of plants in the PJM market in 70 days, which enabled it to benefit from the July heat wave in the eastern U.S. Calpine also completed eight of 13 exploratory wells at The Geysers. They are now evaluating the feasibility of adding at least 40 MW of capacity there to benefit from the California renewable energy market pricing.