ITEM 2.02 - RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On May 8, 2009, Calpine Corporation (the "Company") issued a press release announcing its financial results for the quarter ended March 31, 2009. A copy of the press release is being furnished as Exhibit 99.1 hereto and is incorporated by reference herein.

As set forth in the press release, the Company will host a conference call to discuss its financial and operating results for the first quarter 2009, on Friday, May 8, 2009, at 8:00 a.m. ET / 7:00 a.m. CT. A listen-only webcast of the call may be accessed through the Company's web site at www.calpine.com, or by dialing 888-765-5547 (or 913-312-0646 for international listeners) at least 10 minutes prior to the beginning of the call.

An archived recording of the call will be made available for a limited time on the Company's website and can also be accessed by dialing 888-203-1112 (or 719-457-0820 for international callers) and providing confirmation code 3407359. In addition, presentation materials to accompany the conference call will be made available on the Company's web site on May 8, 2009.

ITEM 9.01 - FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

Exhibit No. Description

99.1 Calpine Corporation Press Release dated May 8, 2009.*

* Furnished herewith.

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