8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 12, 2015

CALPINE CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	1-12079	77-0212977
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

717 Texas Avenue, Suite 1000, Houston, Texas 77002

(Addresses of principal executive offices and zip codes)

Registrant's telephone number, including area code: (713) 830-2000

Not applicable

(Former name or former address if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (seeGeneral Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

ITEM 5.02 — DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

ITEM 7.01 — REGULATION FD

ITEM 9.01 — FINANCIAL STATEMENTS AND EXHIBITS

SIGNATURES

EXHIBIT INDEX

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ITEM 5.02 — DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

On May 12, 2015, Calpine Corporation (the “Company”) announced the appointment of W.G. “Trey” Griggs III as the Company’s new Executive Vice President and Chief Commercial Officer effective June 1, 2015. Mr. Griggs, age 44, previously served as Managing Director at Goldman Sachs & Co (“Goldman”). For the past four years, Mr. Griggs led Goldman’s North American Energy Risk Management activities and its Houston Trading Office. Prior to that, he served in various roles in Goldman’s commodities group in New York since 2002. From 1995-2000 he was an attorney at law firms in Houston and Greenville, S.C. Mr. Griggs holds a Master of Business Administration degree from the Wharton School at the University of Pennsylvania, a Juris Doctor degree from the University of Houston School of Law and a Bachelor of Arts degree from Vanderbilt University.    

In addition, on May 12, 2015, the Company announced that, effective August 1, 2015, Jim D. Deidiker, the Company’s Senior Vice President and Chief Accounting Officer, will be retiring. Mr. Deidiker intends to remain with the Company after his retirement date until March 15, 2016 in a consultative capacity to assist with the transition of his responsibilities as part of the Company’s succession plan.

Jeff Koshkin, currently the Company’s Vice President and Controller, will succeed Mr. Deidiker effective August 1, 2015 as the Company’s Senior Vice President and Chief Accounting Officer. Mr. Koshkin, age 40, joined the Company in 2008 and has served in a number of leadership roles including Controller for Commercial and Derivative Accounting and Controller for Corporate and Plant Accounting, as well as interim roles heading Financial Planning and Analysis and as Chief Risk Officer. Prior to joining the Company, Mr. Koshkin was a Senior Manager in the Regulatory and Capital Markets practice for Deloitte and Touche, LLP. Mr. Koshkin holds a Master’s degree in Professional Accounting from the University of Texas at Austin. He is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants and the Texas Society of Certified Public Accountants.

There are no family relationships between any of the Company’s directors or officers and either of Messrs. Griggs or Koshkin. There were no arrangements or understandings by which either of Messrs. Griggs or Koshkin were appointed as an officer. Neither the Company nor any of its subsidiaries was involved in any transactions, and there are no currently proposed transactions, with either of Messrs. Griggs or Koshkin or their immediate family that are reportable pursuant to Item 404(a) of Regulation S-K.

ITEM 7.01 — REGULATION FD

On May 12, 2015, the Company issued a press release announcing the appointment of a new Chief Commercial Officer and the succession plan for the Chief Accounting Officer. A copy of the press release is furnished as Exhibit 99.1 herewith.

The information in this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “1934 Act”), nor shall it be deemed “incorporated by reference” into any filing under the Securities Act of 1933, as amended, or the 1934 Act, except as may be expressly set forth by specific reference in such filing.

ITEM 9.01 — FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

Exhibit No.	Description
99.1	Calpine Corporation Press Release dated May 12, 2015.*

2

__________

* Furnished herewith.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CALPINE CORPORATION

	By:	/s/ ZAMIR RAUF
		Zamir Rauf
		Executive Vice President and
		Chief Financial Officer
May 12, 2015

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EXHIBIT INDEX

Exhibit No.	Description
99.1	Calpine Corporation Press Release dated May 12, 2015.*

__________

* Furnished herewith.

5

EX-99.1

EXHIBIT 99.1

CONTACTS:	NEWS RELEASE
Media Relations:	Investor Relations:
Brett Kerr	Bryan Kimzey
713-830-8809	713-830-8775
brett.kerr@calpine.com	bryan.kimzey@calpine.com

Calpine Announces New Chief Commercial Officer,

Succession Plan for Chief Accounting Officer

(HOUSTON, Texas) – May 12, 2015–Calpine Corporation (NYSE:CPN) has named W.G. “Trey” Griggs III its Executive Vice President and Chief Commercial Officer effective June 1, 2015. Previously Mr. Griggs was a Managing Director at Goldman Sachs & Co. At Calpine, Mr. Griggs will have responsibility for the trading, origination, development and commercial analytics groups and will report to Calpine’s Chief Executive Officer.

“I am very pleased to welcome Trey as the newest member of our executive management team. His energy trading and origination experience make him well qualified to lead our talented commercial team, particularly as we continue to build our customer-focused initiatives,” said Calpine’s President and Chief Executive Officer Thad Hill.

For the past four years, Mr. Griggs led Goldman Sachs’ North American Energy Risk Management activities and the Houston Trading Office. Prior to that, he served in various roles with the Goldman Sachs commodities group in New York. From 1995-2000, he was an attorney at law firms in Houston and Greenville, S.C. Mr. Griggs holds an MBA from the Wharton School at the University of Pennsylvania, a JD from University of Houston School of Law, and a BA from Vanderbilt University.

Calpine also announced succession plans for Jim Deidiker, Senior Vice President and Chief Accounting Officer (CAO), who is planning to retire. Jeff Koshkin, currently Vice President and Controller, will succeed Mr. Deidiker on August 1. Mr. Deidiker has agreed to remain at the company in a consultative capacity until March 15, 2016.

Mr. Koshkin joined Calpine in 2008 and has served in a number of leadership roles including Controller for Commercial and Derivative Accounting and Controller for Corporate and Plant Accounting, as well as in interim roles heading Financial Planning and Analysis and as Chief Risk Officer. Prior to Calpine, Mr. Koshkin was a Senior Manager in the Regulatory and Capital Markets practice for Deloitte and Touche, LLP. Mr. Koshkin holds a master’s degree in Professional Accounting from the University of Texas at Austin. He is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants and the Texas Society of Certified Public Accountants.

“Over the past seven years, Jeff has been a very effective leader in his various roles within the CFO organization. These skills, coupled with his broad professional accounting experience,

-more-

Calpine Announces New Chief Commercial Officer, Succession Plan for Chief Accounting

Officer Page 2

May 12, 2015

make him very well suited to assume the CAO role,” said Executive Vice President and Chief Financial Officer Zamir Rauf, to whom Mr. Koshkin will report. “I would also like to thank Jim for his invaluable service to Calpine. Under his very capable leadership since 2009, Calpine has built a first-class accounting operation with the right people, processes and controls that have helped hone our focus on fiscal discipline, and I wish him the very best during his retirement.”

About Calpine

Calpine Corporation is America’s largest generator of electricity from natural gas and geothermal resources.  Our fleet of 87 power plants in operation or under construction represents nearly 27,000 megawatts of generation capacity.  Serving customers in 18 states and Canada, we specialize in developing, constructing, owning and operating natural gas-fired and renewable geothermal power plants that use advanced technologies to generate power in a low-carbon and environmentally responsible manner. Our clean, efficient, modern and flexible fleet is uniquely positioned to benefit from the secular trends affecting our industry, including the abundant and affordable supply of clean natural gas, stricter environmental regulation, aging power generation infrastructure and the increasing need for dispatchable power plants to successfully integrate intermittent renewables into the grid. We focus on competitive wholesale power markets and advocate for market-driven solutions that result in nondiscriminatory forward price signals for investors. Please visit www.calpine.com to learn more about why Calpine is a generation ahead - today.

Forward-Looking Information

In addition to historical information, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “believe,” “intend,” “expect,” “anticipate,” “plan,” “may,” “will,” “should,” “estimate,” “potential,” “project” and similar expressions identify forward-looking statements. Such statements include, among others, those concerning expected financial performance and strategic and operational plans, as well as assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results to differ materially from those anticipated in the forward-looking statements. Please see the risks identified in this release or in Calpine’s reports and registration statements filed with the Securities and Exchange Commission, including, without limitation, the risk factors identified in its Annual Report on Form 10-K for the year ended Dec. 31, 2013. These filings are available by visiting the Securities and Exchange Commission’s website at www.sec.gov or Calpine’s website at www.calpine.com. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. Many of these factors are beyond our ability to control or predict. Our forward-looking statements speak only as of the date of this release. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and, other than as required by law, Calpine undertakes no obligation to update any such statements, whether as a result of new information, future events, or otherwise.

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