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<TEXT>
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of

                       the Securities Exchange Act of 1934


        Date of Report (Date of earliest event reported): March 25, 2002


                               CALPINE CORPORATION

                            (A Delaware Corporation)

                        Commission File Number: 001-12079

                  I.R.S. Employer Identification No. 77-0212977


                           50 West San Fernando Street

                           San Jose, California 95113

                            Telephone: (408) 995-5115


<PAGE>

ITEM 4. CHANGES TO REGISTRANT'S CERTIFYING ACCOUNTANTS

     On  March  22,  2002  Calpine  Corporation  ("Calpine")  determined  not to
continue to engage Arthur Andersen LLP  ("Andersen")  as its independent  public
accountants  after completion of the audit for the year ended December 31, 2001,
and  appointed  Deloitte  and  Touche LLP  ("Deloitte  and  Touche")  as its new
independent  public  accountants  for the fiscal year ending  December 31, 2002.
This   determination   followed   Calpine's  decision  to  seek  proposals  from
independent  accountants to audit Calpine's financial  statements for the fiscal
year ending  December 31, 2002.  The  decision  not to renew the  engagement  of
Andersen and to retain  Deloitte  and Touche was approved by Calpine's  Board of
Directors upon the recommendation of its Audit Committee. The decision to change
auditors is not a reflection of Andersen's capabilities or commitment.  Andersen
has provided quality service and demonstrated consistent  professionalism during
their 10 year relationship with Calpine.  The appointment of Deloitte and Touche
as  Calpine's  new  independent  public  accountants  is subject to  stockholder
ratification at Calpine's 2002 Annual Meeting of Stockholders.

     Andersen's  report on Calpine's 2001 financial  statements has not yet been
issued,  but is expected to be issued at the end of March 2002,  in  conjunction
with the  filing of  Calpine's  Annual  Report  on Form 10-K for the year  ended
December 31, 2001.

     The audit reports of Andersen on the consolidated  financial  statements of
Calpine and  subsidiaries as of and for the fiscal years ended December 31, 2001
and 2000, did not contain any adverse opinion or disclaimer of opinion, nor were
they  qualified  or modified  as to  uncertainty,  audit  scope,  or  accounting
principles.  During  Calpine's two most recent  fiscal years ended  December 31,
2001,  and the subsequent  interim period through March 22, 2002,  there were no
disagreements   between  Calpine  and  Andersen  on  any  matter  of  accounting
principles or practices,  financial statement  disclosure,  or auditing scope or
procedure,  which disagreements if not resolved to Andersen's satisfaction would
have caused them to make reference to the subject matter of the  disagreement in
connection with their reports.

     None  of  the  reportable  events  described  under  Item  304(a)(1)(v)  of
Regulation  S-K occurred  within  Calpine's two most recent fiscal years and the
subsequent interim period through March 22, 2002.

     Calpine  provided  Andersen  with a copy of the  foregoing  disclosures.  A
letter from  Andersen  dated March 22, 2002,  stating its  agreement  with these
statements is attached as Exhibit 16.1.

     During  Calpine's two most recent fiscal years ended December 31, 2001, and
the subsequent  interim  period through March 22, 2002,  Calpine did not consult
with  Deloitte  and Touche  regarding  any of the matters or events set forth in
Item 304(a)(2)(i) and (ii) of Regulation S-K.


ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

(a)      Not applicable.

(b)      Not applicable.

(c)      Exhibits.

          16.0 Press release dated March 25, 2002 - Calpine selects Deloitte and
               Touche LLP as independent public accountants

          16.1 Letter from Arthur  Andersen LLP to the  Securities  and Exchange
               Commission dated March 22, 2002



SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                               CALPINE CORPORATION

                          By: /s/ Charles B. Clark, Jr.
                              -------------------------
                             Charles B. Clark, Jr.
                      Senior Vice President and Controller
                            Chief Accounting Officer


Date:  March 25, 2002

<PAGE>


EXHIBIT 16.0

NEWS RELEASE                                             CONTACTS:  408/995-5115
                                       Media Relations:  Katherine Potter, X1168
                                        Investor Relations:  Rick Barraza, X1125


                     CALPINE SELECTS DELOITTE AND TOUCHE LLP
                        AS INDEPENDENT PUBLIC ACCOUNTANTS

     (SAN JOSE, CALIF.) March 25, 2002 -- Calpine  Corporation  [NYSE:CPN] today
announced  that its  Board  of  Directors,  after  extensive  review  and at the
recommendation of its Audit Committee and the company's management, has selected
Deloitte and Touche LLP as Calpine's  independent  public  accountants for 2002.
The  appointment  of  Deloitte  and  Touche is subject  to the  ratification  of
shareholders  of record on March 29, 2002 at  Calpine's  2002 Annual  Meeting of
Stockholders, scheduled for May 23, 2002. Prior to the selection of Deloitte and
Touche,   Arthur  Andersen  LLP  served  as  the  company's  independent  public
accountants.

     Arthur  Andersen LLP  exhibited the highest  level of  professionalism  and
provided  exemplary  service to  Calpine  since  1991.  The  decision  to change
accountants  was made after careful  consideration  and is not the result of any
disagreement  between  the  company  and  Andersen  on any matter of  accounting
principles or practices,  financial statement  disclosure,  or auditing scope or
procedure.  Andersen's report on Calpine's 2001 financial statements is expected
to be issued during the week of March 25, 2002, in  conjunction  with the filing
of Calpine's Annual Report on Form 10-K for the year ended December 31, 2001.

     Based in San Jose,  Calif.,  Calpine  Corporation is an  independent  power
company that is dedicated to providing customers with clean, efficient,  natural
gas-fired power  generation.  It generates and markets power,  through plants it
develops,  owns and operates, in 29 states in the United States, three provinces
in  Canada  and in the  United  Kingdom.  Calpine  also is the  world's  largest
producer of renewable  geothermal  energy,  and it owns and markets 1.3 trillion
cubic feet of proved natural gas reserves in Canada and the United  States.  The
company  was  founded  in 1984 and is  publicly  traded  on the New  York  Stock
Exchange under the symbol CPN. For more  information  about  Calpine,  visit its
website at www.calpine.com.


EXHIBIT 16.1

March 22, 2002


Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C.  20549


Dear Sir:

     We have read the second, third, and fourth paragraphs of Item 4 included in
the Form 8-K dated  March 25, 2002 of Calpine  Corporation  to be filed with the
Securities  and Exchange  Commission  and are in agreement  with the  statements
contained therein.

Very truly yours,

/s/ Arthur Andersen LLP


cc:  Mr. Robert Kelly, CFO, Calpine Corporation


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