Caleb Stephenson — Senior Vice President of Wholesale Origination & Commercial Analytics at Calpine Corporation

Mr. Caleb Stephenson has been Senior Vice President of Wholesale Origination & Commercial Analytics at Calpine Corporation since February 2017. Mr. Stephenson served as Senior Vice President of Commercial Analytics at Calpine Corp. since May 21, 2014 until February 2017. Mr. Stephenson oversees the Calpine Corporation's analysis of factors affecting the Calpine Corporation's commodity margin performance, including market, regulatory, contractual and operational factors. Mr. Stephenson joined Calpine in October 2008 as a Vice President of Commercial Analytics. He joined Calpine from PA Consulting Group's Global Energy Practice, where he advised merchant power industry participants on energy market outlook and risk management issues. He holds a bachelor's degree in history and social studies from Oral Roberts University and a Master of Business Administration in finance from Washington University.