SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. -)*
Calpine Corporation
____________________________________________
(Name of Issuer)
Common Stock
____________________________________________
(Title of Class of Securities)
13134710
_________________________
(CUSIP Number)
Check the following box if a fee is being paid with this
statement [ ]. (A fee is not required only if the filing person:
(1) has a previous statement on file reporting beneficial
ownership of more than 5 percent of the class securities
described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7.)
* The remainder of the cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the act (however, see the
Notes).
(Continued on following page(s))
Page 1 of 5 Pages
CUSIP No. 13134710 13G Page 2 of 5 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
State Street Research & Management Company
#13-31424135
_________________________________________________________________
_____________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
_________________________________________________________________
_____________
3. SEC USE ONLY
_________________________________________________________________
_____________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Reporting Person is a corporation organized under Delaware
laws. Principal office of Reporting Person is in Boston, MA.
_________________________________________________________________
_____________
5. SOLE VOTING POWER
1,124,300
NUMBER OF
SHARES 6. SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY EACH
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON WITH 1,124,300
8. SHARED DISPOSITIVE POWER
-0-
_________________________________________________________________
_____________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,124,300
_________________________________________________________________
_____________
10. CHECK BOX IF AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
_________________________________________________________________
_____________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.23%
_________________________________________________________________
_____________
12. TYPE OF REPORTING PERSON*
Investment adviser
*SEE INSTRUCTIONS BEFORE FILLING OUT
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SCHEDULE G
Item 1(a). Name of Issuer
Calpine Corporation
Item 1(b). Address of Issuer's Principal Office
50 West San Fernando St.
San Jose, CA 95113
Item 2(a). Name of Person Filing
State Street Research & Management Company
Item 2(b). Address of Principal Business Office
One Financial Center, 30th Floor
Boston, MA 02111-2690
Item 2(c). Citizenship
Reporting Person is a corporation organized under
Delaware laws. Principal office of Reporting
Person is Boston, MA
Item 2(d). Title of Class of Securities
Common Stock
Item 2(e). CUSIP Number
13134710
Item 3. If this statement is filed pursuant to Rules
13d-1(b), or 13d-2(b), check whether the person
filing is a:
(a) [ ] Broker or dealer registered under Section 15
of the Act
(b) [ ] Bank as defined in Section 3(a)(6) of the Act
(c) [ ] Insurance Company registered under Section
3(a)(19) of the Act
(d) [ ] Investment company registered under Section 8
of the Investment Company Act
(e) [x] Investment Adviser registered under Section
203 of the Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is
subject to the provisions of the
Employee Retirement Income Security Act of
1974 or Endowment Fund: see Section 240.13d-1(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with
Section 240.13d- 1(b)(ii)(G) (Note: See
Item 7)
(h) [ ] Group, in accordance with Section 240.13d-
1(b)(1)(ii)(H)
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SCHEDULE G
Item 4. Ownership
If the percent of the class owned, as of December
31 of the year covered by the statement, or as of the
last day of any month described in Rule 13d-1(b)(2),
if applicable, exceeds 5 percent, provide the following
information as of that date and identify those shares
which there is a right to acquire.
(a) Amount beneficially owned: 1,124,300
(b) Percent of Class: 6.23%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
1,124,300
(ii) shared power to vote or to direct the vote:
-0-
(iii) sole power to dispose or to direct the
disposition of: 1,124,300
(iv) shared power to dispose or direct the
disposition of: -0-
State Street Research & Management Company disclaims
any beneficial interest in any of the foregoing
securities.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the
fact that as of the date hereof the reporting
person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [ ].
Item 6. Ownership of More than Five Percent on Behalf
of Another Person.
If any other person is known to have the right to
receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in
response to this item and, if such interest
relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of
an investment company registered under the
Investment Company Act of 1940 or the
beneficiaries of an employee benefit plan, pension fund or
endowment fund is not required.
All foregoing shares are in fact owned by clients
of State Street Research & Management
Company.
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SCHEDULE G
Item 7. Identification and Classification of the
Subsidiary Which Acquired the Security Being
Reported on By the Parent Holding Company.
If a parent holding company has filed this
schedule, pursuant to Rule 13d- 1(b)(ii)(G), so
indicate under Item 3(g) and attach an exhibit stating the
identity and the Item 3 classification of the relevant
subsidiary. If a parent holding company has
filed this schedule pursuant to Rule 13d-1(c), attach
an exhibit stating the identification of the relevant subsidiary.
Inapplicable
Item 8. Identification and Classification of Members
of the Group.
If a group has filed this schedule pursuant to
Rule 13d-1(b)(ii)(H), so indicate under Item
3(b) and attach an exhibit stating the identity and Item
3 classification of each member of the group. If a group has
filed this schedule pursuant to Rule 13d-1(c),
attach an exhibit stating the identity of each
member of the group.
Inapplicable
Item 9. Notice of Dissolution of Group
Inapplicable
Item 10. Certification
By signing below I certify that, to the best of my
knowledge and belief, the securities referred
to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have
the effect of changing or influencing the control
of the issuer of such securities and were not
acquired in connection with or as a participant in any
transaction having such purposes or effect.
Signature
After reasonable inquire and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Date: February 12, 1997
Signature: ________________________
Name/Title: Mark Passacantando
Director of Compliance
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