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KS regulators approve merger of Westar, Great Plains

By Associated Press

05/25/2018

TOPEKA, Kan. (AP) — Kansas utility regulators have approved the merger of the two largest electric companies operating in the state.

The Kansas Corporation Commission's decision Thursday that means Topeka-based Westar Energy and Great Plains Energy of Kansas City, Missouri, will become subsidiaries of a new company called Evergy. Great Plains is the parent of Kansas City Power & Light.

Missouri regulators approved the merger earlier Thursday. Both companies' shareholders overwhelmingly approved it in November.

Westar said in a statement that the new company will have an equity value of about $15 billion and 1.6 million customers in Kansas and Missouri.

The Lawrence Journal-World reports that the merger is expected to generate savings and efficiencies. Westar will give customers $23 million in credits on their bills, while KCP&L will issue $7.5 million in credits.

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