This week, Calpine reported earnings that were up 240% from 1999, but would not say exactly how much of those profits are from California. Total earnings for 2000 were about $320 million, a huge improvement from 1999 earnings of slightly less than $100 million.
California's energy crisis has no doubt made Calpine's services more attractive throughout the state. Calpine has wasted no time in proposing several new power plants in the Silicon Valley, the most recent a facility in Hayward that would serve 600,000 homes. The state's Energy Commission may also allow another plant, the Metcalf Energy Center, to be built. This facility was shot down by San Jose City Council last November, but the Energy Commission may reverse that decision.
Calpine, which is currently building 24 plants nationwide, has three under construction in California.
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