Calpine Corp. Settles with PG&E

Law360, New York (July 12, 2007, 12:00 AM EDT) -- Bankrupt energy company Calpine Corp. asked a federal bankruptcy court on Wednesday to approve a settlement between two Calpine Corp. affiliates and Pacific Gas & Electric Company. If the motion is granted, the settlement will put to rest several longstanding financial disputes between the companies.

The settlement involves Calpine Corp. affiliates Delta Energy Center LLC and Los Medanos Energy Center LLC, two power generators, and disagreements they had over the costs of connection to the power grid owned by utility Pacific Gas & Electric.

Ross Kwasteniet,...
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