Calpine's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Calpine Corporation (CPN)

Q4 2011 Earnings Call

February 10, 2012 11:00 a.m. ET

Executives

Bryan Kimzey – VP, IR

Jack Fusco - President, CEO

Thad Hill - EVP, COO

Zamir Rauf - EVP, CFO

Thad Miller - Chief Legal Officer

Analysts

Paul Fremont - Jefferies & Co., Inc.

Stephen Byrd - Morgan Stanley

Angie Storozynski - Macquarie Research

Dave Katz - JPMorgan

Julien Dumoulin-Smith - UBS Investment Research

Ameet Thakkar - Bank of America – Merrill Lynch

Brandon Blossman - Tudor Pickering Holt & Co.

Gregg Orrill - Barclays Capital

Ted Durbin - Goldman Sachs

Ali Agha - SunTrust Robinson Humphrey

James Dobson - Wunderlich Securities

Keith Stanley - Deutsche Bank

Presentation

Operator

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Welcome to the Calpine Corporation Fourth Quarter and Full Year 2011 Investor Update Conference Call. My name is Mitchell and I will be your operator for today’s call. (Operator Instructions) Please note that this conference is being recorded. I will now turn the call over to the Vice President of Investor Relations, Mr. Bryan Kimzey. Mr. Kimzey, you may begin.

Bryan Kimzey

Thank you, operator, and good morning, everyone. I’d like to welcome you to Calpine’s investor update conference call covering our fourth quarter and full year 2011 results. Today’s call is being broadcast live over the phone and via webcast, which can be found on our website at www.calpine.com. You will find the access to the webcast and a copy of the accompanying presentation materials in the Investor Relations section of our website.

Joining me for this morning’s call are Jack Fusco, our President and Chief Executive Officer; Thad Hill, our Chief Operating Officer; and Zamir Rauf, our Chief Financial Officer. Thad Miller, our Chief Legal Officer is also with us to address any questions you may have on regulatory issues.