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November 16, 2006
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Calpine said it hired Larry B. Leverett as its new senior vice president of gas trading, responsible for managing natural gas positions and risk management strategies for Calpine's 25,100 MW gas-fired power portfolio. Leverett previously was senior vice president of wholesale markets for TXU Portfolio Management LP. He also served in senior management positions with Avista Energy and El Paso Energy. Most recently, he was a senior consultant for PNM Resources, leading commercial and operational management for its Southwest gas and power businesses. "Calpine is one of North America's largest gas-fired power producers, which makes us one of the country's largest natural gas end-users and traders. Larry's proven track record for leading successful gas and power trading and risk management initiatives will enhance our commercial operations -- creating value for both our customers and Calpine -- and help position the new Calpine for profitable growth," said Thomas N. May, Calpine's executive vice president of commercial operations.

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