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Great Plains Energy Comments on Requests from Missouri Public Service Commission Staff

Business Wire, March 13, 2008

KANSAS CITY, Mo. -- Great Plains Energy Incorporated (NYSE: GXP) and Kansas City Power & Light Company (KCP&L) filed a motion on March 12, 2008 in response to certain subpoenas received from the staff of the Missouri Public Service Commission for depositions of numerous current and past employees in the pending Aquila acquisition proceedings.

In their motion, the companies stated that many of the proposed depositions are not relevant to the proposed acquisition. Moreover, a process for review of such information already exists. Great Plains Energy and KCP&L will utilize the existing procedures to respond to any of the issues related to the construction program within its Comprehensive Energy Plan. However, the companies have objected to staff's attempt to introduce into the Aquila acquisition case matters already being addressed in KCP&L's Comprehensive Energy Plan.

KCP&L's construction program is independent of the proposed acquisition, and should continue to be addressed in the context of the established construction oversight process. KCP&L has followed that process, provided scheduled quarterly updates and met with all parties since 2005, including a meeting yesterday with the Chief Executive Officer of KCP&L, other KCP&L executives and the PSC staff. In that meeting, KCP&L executives provided a detailed review of its construction project management practices and systems.

The companies believe that the introduction of these issues into the acquisition proceedings will result in significant needless expense brought on the companies and other parties, as well as to the Commission. It could also potentially delay the Commission's resolution of the case.

About Great Plains Energy

Great Plains Energy, headquartered in Kansas City, Mo., is the holding company for Kansas City Power & Light, a leading regulated provider of electricity in the Midwest, and Strategic Energy, LLC, a competitive electricity supplier. The company's Web site is www.greatplainsenergy.com.

FORWARD-LOOKING STATEMENTS

Statements made in this release that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. Forward-looking statements include, but are not limited to, statements regarding projected delivered volumes and margins, the outcome of regulatory proceedings, cost estimates of the comprehensive energy plan and other matters affecting future operations. In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the registrants are providing a number of important factors that could cause actual results to differ materially from the provided forward-looking information. These important factors include: future economic conditions in the regional, national and international markets, including but not limited to regional and national wholesale electricity markets; market perception of the energy industry, Great Plains Energy and KCP&L changes in business strategy, operations or development plans; effects of current or proposed state and federal legislative and regulatory actions or developments, including, but not limited to, deregulation, re-regulation and restructuring of the electric utility industry; decisions of regulators regarding rates KCP&L can charge for electricity; adverse changes in applicable laws, regulations, rules, principles or practices governing tax, accounting and environmental matters including, but not limited to, air and water quality; financial market conditions and performance including, but not limited to, changes in interest rates and in availability and cost of capital and the effects on pension plan assets and costs; credit ratings; inflation rates; effectiveness of risk management policies and procedures and the ability of counterparties to satisfy their contractual commitments; impact of terrorist acts; increased competition including, but not limited to, retail choice in the electric utility industry and the entry of new competitors; ability to carry out marketing and sales plans; weather conditions including weather-related damage; cost, availability, quality and deliverability of fuel; ability to achieve generation planning goals and the occurrence and duration of planned and unplanned generation outages; delays in the anticipated in-service dates and cost increases of additional generating capacity; nuclear operations; ability to enter new markets successfully and capitalize on growth opportunities in non-regulated businesses and the effects of competition; workforce risks including compensation and benefits costs; performance of projects undertaken by non-regulated businesses and the success of efforts to invest in and develop new opportunities; the ability to successfully complete merger, acquisition or divestiture plans (including the acquisition of Aquila, Inc., and Aquila's sale of assets to Black Hills Corporation); the outcome of Great Plains Energy's review of strategic and structural alternatives for its subsidiary Strategic Energy, L.L.C.; and other risks and uncertainties. Other risk factors are detailed from time to time in Great Plains Energy's most recent quarterly report on Form 10-Q or annual report on Form 10-K filed with the Securities and Exchange Commission. This list of factors is not all-inclusive because it is not possible to predict all factors.

COPYRIGHT 2008 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning
 

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