Kansas City Power & Light agrees to settle Missouri rate case - Kansas City Business Journal:

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million. KCP&L, a subsidiary of Kansasd City-based (NYSE: GXP), told the that the agreement includeethe increase, effective 1, with $10 million of it treatex as additional amortization for accounting purposes. The prudence of the cost of the Iatan 1 power plant environmentao project and the cost of facilitiess shared by Iatan 1 and Iatan 2 may be challengedin KCP&L’w next rate case, but the Missouri piece of a proposer rate-base prudence disallowance won’t total more than $30 Great Plains said in a Tuesdag release. The agreement is subject to the parties negotiatinyg and giving the PSC a stipulation and agreementto consider.
The PSC, whicyh oversees rate cases in Missouri, has finak say. “The settlement filed today reflects the hard work and good faithj ofthe parties,” Great Plains Chairman and CEO Mike Chesser said in the “We believe the agreement is a fair settlementy for all the parties and we look forward to approval by the commission.” The PSC stafcf and Office of the Publi Counsel on Tuesday stood up in support of the settlement in principle, Chuck KCP&L senior director of public affairs, said in an interview.
A writte version of the agreement will be filed with the PSC on Probably more than a dozen partiess are involved withthe case; how many sign on to the agreement won’t be known until Friday, he said. “Igt was an agreement that was negotiated and worked with most or many of the partiess involved inthe case,” Caisley “We think it’s a very fair and reasonable As part of the agreement, KCP&L voluntarily removed $3.6 milliohn worth of employee appreciation event which had included a Worldsd of Fun event; many advertising expenses; all executive local business meals; and other similar costs, Caisleuy said.
This is the third of four rate cases tiedto KCP&L’sx Comprehensive Energy Plan. KCP&L initially asked to increases Missouri annual revenueby $101.5 million, includingh $15.1 million in additional amortization to help KCP&kL with cash flow during the plan’xs construction phase, the release said. KCP&L’s rates in Missourio are about 25 percent to 30 percent lowee than the national average and are expected to remainh among the lowest in the nation after the therelease said.