KANSAS CITY, MO, May 3, 2004 - Kansas City Power and Light (NYSE: GXP) announced its intent to file an Application requesting the Missouri Public Service Commission and the Kansas Corporation Commission establish Dockets to begin a Regulatory Workshop Process to explore various alternatives for KCP&L to meet increasing demand for power and environmental issues. The workshop is a forum to allow interested parties to participate in a collaborative process.
During the past several months KCP&L conducted an extensive review to develop a 10-year view of the industry. Community leaders, customers, shareholders, environmental groups, and Commissions’ Staff participated in a series of seminars ranging from "Changing Technology" to "Changing Customer." The Regulatory Workshop Process is a continuation of this effort to elicit key stakeholders input.
Chairman Michael Chesser said, "KCP&L has been a trusted and valued member of the community. In this same spirit, we will build upon this relationship and simultaneously seek input from the Commissions and the community on how best to serve our customers and shareholders. We believe this collaborative process will yield a richer and more inclusive outcome."
William Downey, President and CEO, continued, "In addition to the Regulatory Workshops, we will be contacting various stakeholders to attend a variety of forums to share information and listen to issues. This information will also be used as input to the Regulatory Workshop process."
Great Plains Energy (NYSE: GXP), headquartered in Kansas City, MO, is the holding company for Kansas City Power & Light Company, a leading regulated provider of electricity in the Midwest; Strategic Energy LLC, a competitive electricity supplier. The Company's web site is: www.greatplainsenergy.com.
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CERTAIN FORWARD-LOOKING INFORMATION -- 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. In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company is 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 and the Company; 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 and constraints placed on the Company's actions by the Public Utility Holding Company Act of 1935; adverse changes in applicable laws, regulations, rules, principles or practices governing tax, accounting and environmental matters including, but not limited to, air 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 the Company’s pension plan assets and costs; ability to maintain current 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 and deliverability of fuel; ability to achieve generation planning goals and the occurrence of unplanned generation outages; delays in the anticipated in-service dates of additional generating capacity; nuclear operations; ability to enter new markets successfully and capitalize on growth opportunities in non-regulated businesses; performance of projects undertaken by the Company’s non-regulated businesses and the success of efforts to invest in and develop new opportunities; and other risks and uncertainties. This list of factors is not all-inclusive because it is not possible to predict all possible factors.
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Contacts
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Media: |
Tom Robinson, 816/556-2902 |
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