With few exceptions, the generators and demand-response companies operating in California showed poor financials for the first quarter 2012. Highlights of earnings reports posted for the financial community in the first quarter of 2012 include: Calpine--After posting mostly steady losses for the last few years, Calpine continued for the first quarter of 2012 with a $9 million loss. That\u2019s a better financial outlook than the first quarter of 2011, when the company reported a $297 million loss. Critical to California-based income is the fate of the Sutter power plant. The 525 MW fossil-fueled plant in Yuba County no longer has a power purchase contract. The California Independent System Operator and a divided California Public Utilities Commission plan to keep it on line with a contract subsidy, although its output may not be needed (Current, March 23, 2012). The grid operator has a filing with Federal Energy Regulatory Commission to allow it to obtain power from the plant. Several non-utility generators and the CPUC\u2019s energy division are requesting the commission to investigate placing power plants like Sutter under a new contract category that allows for \u201cflexible\u201d resource adequacy. Calpine started construction to upgrade its Los Esteros plant from a 188 MW simple-cycle to a 309 MW combined-cycle facility in 2011. It was shut down at the end of 2011 to facilitate the upgrade. Its 429 MW Russell City Energy Canter in Hayward is expected to go online in 2013. The power is under contract with Pacific Gas & Electric. Constellation\/Exelon--The newly merged companies plan to reveal earnings May 4. Constellation owns biomass and solar generation in California. Both Exelon and Constellation own nuclear power plants outside California. Merger costs with Exelon were reported at $78 million in the last quarter of 2011. Comverge--This demand-response aggregator that contracts with California utilities to curb peak usage had no schedule for a financial disclosure at press time. It is in discussions with merger\/takeover companies. May 1, it posted an offer to shareholders from H.I.G. Capital. In its last posting it claims it has 3,778 (n)MW under its control nationwide. Despite the potential need for peak demand shaving this summer due to nuclear plant outages in Southern California, the company has not indicated its California contracts are in play. Dynegy--While four of its subsidiaries filed for Chapter 11 bankruptcy protection Nov. 7, 2011, the main corporation is still outside of bankruptcy. Earnings aren\u2019t set for the public until May 10. 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 700 MW South Bay plant. EnerNOC--Holding demand-response contracts with California investor-owned utilities, this company posted a loss of $27.7 million this quarter. Last year at this time the loss was reported at $18 million. The company noted that it added 900 (n)MW to its portfolio recently. That brings to 8,000 (n)MW the total amount of load the company is contracted to shed when dispatched.. First Solar--Undertaking a major restructuring, shedding 2,000 jobs, and closing two manufacturing plants, First Solar reported a first quarter loss at $449 million. The first quarter 2011 showed income at $116 million. The company is not only shedding jobs and manufacturing, it sold Desert Sunlight, a 550 MW project near Palm Springs in September 2011 to NextEra. In California, First Solar has five projects with contracts for electricity--Topaz, 550 MW; Sunlight, 550 MW; AV Solar Ranch One, 230 MW; Imperial Energy Center, 130 MW; and Alpine, 66 MW. The 300 MW Stateline project is in development, but does not have a power purchase contract. GenOn--This company with power plants in the East Bay and throughout Southern California, is scheduled to post earnings next week. NextEra Energy Resources--California\u2019s primary wind developer reported profit for the first quarter 2012 at $221 million, almost three times the $65 million it posted in the first quarter 2011. Federal production tax credits continue to feed the company\u2019s turbine industry. Outages at its Seabrook nuclear facility are draining funds. Its wind resources are a \u201cmain driver\u201d for profits, while its nuclear assets negatively \u201cmore than offset\u201d wind\u2019s profits, according to a filing with the Securities & Exchange Commission . NextEra, along with GE Financial Services, acquired the 550 MW Desert Sunlight development from First Solar last fall. That project, near Blythe, has a partial $1.46 billion loan guarantee. It was approved by the Department of Interior in August 2011. It also is developing the 500 MW McCoy photovoltaic project near Palm Springs. NextEra intends to invest between $3.4 billion and $3.7 billion in those projects by 2014. NRG Energy--Continuing losses, this company posted a negative $206 million for the quarter, only slightly better than the loss of $260 million this time last year. Despite that, NRG\u2019s California operations appear to be doing well. The company noted its solar facilities--Avenal, and Roadrunner--are operational. Agua Caliente is supposed to be able to put 245 MW on line this year. Also, in the absence of the San Onofre nuclear plant, NRG\u2019s fossil-fueled Encina facility has been \u201cdispatched extensively\u201d for power in Southern California, according to the company. The Agua Caliente solar plant is under a 25-year contract to PG&E. The development has a $967 million loan guarantee from the Department of Energy. Ormat--This geothermal company is set to report earnings May 8. It owns the North Brawley plant in California, which has repeatedly underperformed for output. Ormat owns plants across the U.S. and some in Africa and South America. SunPower Corp.--This San Jose-based photovoltaic company posted a $75 million loss for the quarter, compared to a loss of $2 million for the same quarter last year. The company is keeping its Milpitas manufacturing plant. It claims that its panels are increasing in efficiency up to 21 percent. Like First Solar, this company is acting to reduce costs. Editor\u2019s note: Current attempts to present financial information on an apples-to-apples level, but not all corporations report on the same basis.