September 8, 2008
KCP&L Files Rate Increase Requests in Missouri and Kansas
Kansas City Power & Light, a subsidiary of Great Plains Energy, has filed rate increase requests with the Missouri Public Service Commission and the Kansas Corporation Commission to increase base rates for electric service in all five of its service areas.
The requests will raise a typical residential customer's rates by approximately 16.2%, translating to a $12.27 monthly increase. The requests, which are subject to regulatory approval, would take effect in late summer 2009.
The rate requests vary in each of Kansas City Power & Light's (KCP&L) service jurisdictions and include recovery for investments on environmental upgrades at KCP&L's Iatan-1 and Sibley power plants, Crossroads generation and transmission resources and energy efficiency programs made under KCP&L's comprehensive energy plan. The rate increase request totals $257.5 million.
Headquartered in Kansas City, Missouri, Great Plains Energy is the holding company of KCP&L and Aquila, both of which use KCP&L as a brand name.
Michael Chesser, chairman and CEO of Great Plains Energy, said: "We do not relish requesting a rate increase during these difficult economic times. However, these requests are approximately $23 million less than they would have been, as a direct result of operational savings realized from our acquisition of Aquila."