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Calpine Wins OK for Hayward Plant

September 12, 2002|From Bloomberg News

Calpine Corp., the owner of power plants in 23 U.S. states, received approval from California regulators to build a plant in Hayward, Calif., that could light up to 480,000 homes.

The California Energy Commission voted 5-0 to permit construction of the 600-megawatt Russell City Energy Center about 15 miles southeast of Oakland. The natural gas-fired plant is scheduled to begin producing electricity in mid-2005, a Calpine spokesman said. One megawatt is enough power for 800 typical U.S. homes.

"This facility is necessary to improve energy reliability in the Bay Area," Gov. Gray Davis said.

Millions of Californians endured six days of blackouts last year when demand for power outstripped supply. Two days of blackouts in January 2001 affected only Northern California because power-line bottlenecks prevented generators in the southern part of the state from transmitting energy north.

Shares of San Jose-based Calpine rose 10 cents to $3.85 on the New York Stock Exchange.

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