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.
