Calpine Corp. engages in the operation of natural gas-fired and geothermal power plants. It operates through the following segments: West, Texas, and East. The West segment includes the operation of the transmission grid within the bulk of California and providing open, nondiscriminatory transmission services. The Texas segment manages electric grid. The East segment operates a day-ahead and real-time wholesale energy market. The was founded by Peter Cartwright in June 1984 and is headquartered in Houston, TX.

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