Calpine to close Houston-area power plant

HoustonBusinessnews32Calpine Corp. will be closing their Houston natural gas power plant due to the high maintenance cost and the lack of support from the Texan government. In a statement released Friday, the company will be retiring the power plant due to these grounds and it is expected that the power plant will fully cease operations by 2018. This announcement by Calpine is done after the second-quarter reports have been shown, highlighting a net loss of over $29 million from the net income of $19 million in 2015. Operating revenue has also dropped to $1.16 billion which did not meet the $1.29 billion expected revenue noted by analysts for the company.

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