For unregulated energy companies doing business in California, the second quarter of 2012 was notable for mergers. While some losses were reported for companies with a heavier fossil fuel portfolio, a number of California gas-fired plants benefitted from the San Onofre Nuclear Generating Station outage. Some renewable firms plucked profits. Highlights of earnings reports for the financial community include: Calpine--After posting mostly steady losses for the last few years, the trend remained at a loss of $329 million in the second quarter. Last year at this time, the loss was $70 million. Although the company has some geothermal plants in California, it is stressing the importance of its gas-fired facilities. \u201cNatural gas-fired generation continued to take market share from coal,\u201d Jack Fusco, Calpine chief executive officer, stated. Calpine\u2019s natural gas plants\u2019 output in the West doubled due to the San Onofre Nuclear Generating Station outage and a more normal hydro year, according to the company. Critical to California-based income is the fate of the Sutter power plant. The 525 MW fossil-fueled power plant in Yuba County got a brief reprieve--beginning in July to the end of this year. The California Public Utilities Commission ordered utilities to negotiate power purchase contracts. The plant is in question by state regulators for long-term operations due to its high cost. As an alternative, Calpine\u2019s pursuing flexible capacity procurement authorization from regulators. Calpine continues to construct its 429 MW Russell City Energy Center in Hayward. It\u2019s expected to go online in 2013. Repowering of the Los Esteros plant from a 188 MW simple-cycle to a 309 MW combined-cycle facility continues. It was shut down at the end of 2011 to facilitate the upgrade. Calpine contracted for 700 MW in the mid-term from Gilroy and Los Medanos. It did not specify to which utility the power is promised. Constellation--With a tiny renewables footprint in California, its merger with giant Exelon was completed in March. Comverge--This demand-response aggregator that contracts with California utilities merged with private equity investor H.I.G Capital in May. It is no longer publicly traded. Dynegy--After filing for bankruptcy protection for most of the company July 6, Dynegy reported quarterly losses at $1 billion. This time last year it posted a $116 million loss. Dynegy\u2019s gas-fired power plants, like those in California, are operated by Dynegy Power--an entity not involved in the bankruptcy case. The plants were separately financed last year. Dynegy owns the 1,000 MW Morro Bay plant, the 2,529 MW Moss Landing facility, the 165 MW plant at the Port of Oakland, and the 300 MW South Bay plant. The California Coastal Commission approved demolishing South Bay June 14. The Morro Bay facility lost its contract with Southern California Edison and is in a contract dispute with the utility. It appears to be heading for mediation, according to Dynegy. Because of the lack of a contract, its long-term viability may be reconsidered, Dynegy noted. Due to natural gas fuel prices, Moss Landing is a more profitable generation asset this year, according to the company. EnerNOC--Holding demand-response contracts with California investor-owned utilities, this aggregator continues to post losses. This quarter it reported a loss of $29 million. Last year at this time the loss was $13 million. Despite that, the company noted it added another 300 negawatts to its portfolio this quarter for a total of 8,300 (n)MW. First Solar--After non-bankruptcy reorganization earlier this year, this thin-film solar panel company posted income of $111 million for the quarter, although the first six months of the year revealed a loss of $338 million. The second quarter 2011 brought in $61 million in net income. After selling off several large-scale solar projects in California in the last year, First Solar continues to pursue the 230 MW Antelope Valley Solar Ranch project with solar modules installed beginning in June. In Imperial County, First Solar has half ownership in the 139 MW Campo Verde development. Construction on that project is expected to start this year, with the power sent to San Diego Gas & Electric under a 20-year contract. In Kern County, the company is supplying enXco with 61 MW for its Catalina project later this year. The company isn\u2019t pursuing federal subsidies for its operations. GenOn--With power plants in the East Bay and throughout Southern California, the company announced it plans to merge with NRG in July. It posted a loss of $107 million for the quarter, when last year it was a loss of $82 million. Compounding the losses was the absorption of earlier costs from the merger of Mirant and RRI. In 2010, those two companies with plants operating in this state became GenOn. Legacy merger costs continue from two years ago. Marsh Landing, a 762 MW fossil fueled plant in Antioch, is expected to be completed in 2013, said chief executive officer Ed Muller. GenOn\u2019s investment this year for Marsh Landing is set at $355 million. NextEra Energy Resources--California\u2019s primary wind developer, at 850 MW, reported profit for the second quarter at $251 million. Last year at this time it posted $239 million in income. The company received court approval to buy Solar Trust of America\u2019s stalled 1,000 MW Blythe solar project in June. It inaugurated the 78 MW Vasco wind farm in the Altamont Pass in May. NRG Energy--The company, with plans to finalize a merger with GenOn by the first quarter of next year, posted quarterly income of $251 million, well down from last year at this time when it was $621 million. Its operations in the West contributed $23 million for the quarter. In the second quarter 2011, the western operations represented $12 million in profits. Part of that is a push into renewables in California, as well as a temporary increase in the popularity of its fossil-fueled Encina power plant. Encina is strategically located near the shutdown San Onofre nuclear plant. Its marketable services are in demand this summer. Its Agua Caliente solar plant is \u201cmassively ahead of schedule,\u201d David Crane, chief executive officer, said. As of July it reached a 200 MW capacity, with power under a 25-year contract with PG&E. The development has a $967 million loan guarantee from the Department of Energy. The California Valley Solar Ranch project is expected to go online in September with an initial 127 MW, also with a PG&E contract. It owns half of the 392 MW Ivanpah project. Ivanpah has $1.6 billion in financial backing from the Department of Energy. The first 125 MW phase of the project is expected to go online in November. Its first phase has a contract with PG&E and its second phase with Edison. NRG also has the 66 MW solar Alpine project under contract with PG&E. On the fossil fueled side, NRG is repowering its 550 MW El Segundo plant. It\u2019s expected to go online late next year. Ormat--This geothermal company with the North Brawley plant in California posted $8.7 million in income this quarter, compared to $8.2 million last year. SunPower Corp.--This San Jose-based photovoltaic company posted losses of $50.7 million for the quarter. In the second quarter 2011, losses were $100 million. The company is expanding its strategy from building utility-sized facilities to leasing residential solar rooftops. It\u2019s sold rights to some developments, but is kept on by the new owners, such as NRG, as construction overseer. Two NRG plants, Antelope and California Valley, are being built under those parameters. Editor\u2019s note: Current attempts to present financial information on an apples-to-apples level, but not all corporations report on the same basis.