Calpine Loss Widens as Power Demand Lessens

Calpine Corp., owner of power plants in 21 U.S. states, said its first-quarter loss widened as milder weather than a year earlier reduced electricity demand in markets that were already oversupplied.

The net loss widened to $71.2 million, or 17 cents a share, from $52 million, or 14 cents, a year earlier, San Jose-based Calpine said. Sales fell 5.7% to $2.04 billion.

Calpine’s power plants ran at about 50% of capacity, down from 55% a year earlier, and the drop in demand eroded profit margins.

Shares of Calpine fell 25 cents to $3.90 on the NYSE.