<PAGE>
                                                                    Exhibit 99.2

                                   Exhibit A
                     Existing Underlying Master Agreements


<Table>
<Caption>
------------------------------------------------------------------------------------------------------------------
              AGREEMENT                               PARTIES                                 DATE
------------------------------------------------------------------------------------------------------------------
<S>                                      <C>                                    <C>
Enfolio Master Firm                      Enron North America Corp and           December 1,
Purchase/Sale Agreement                  Calpine Energy Services, L.P.          2000
------------------------------------------------------------------------------------------------------------------
Master Energy Purchase and               Enron Power Marketing, Inc. and        December 27,
Sale Agreement                           Calpine Energy Services, L.P. f/k/a    1999
                                         Calpine Power Services Company
------------------------------------------------------------------------------------------------------------------
ISDA Master Agreement                    Enron North America Corp. and          October 20, 1999
                                         Calpine Energy Services, L.P.
                                         f/k/a Calpine Power Services
                                         Company
------------------------------------------------------------------------------------------------------------------
</Table>

