Great Plains Energy Inc. (GPE), Kansas City Power & Light Co. (KCP&L) and KCP&L Greater Missouri Operations Co. have filed a joint application with the Missouri Public Service Commission (PSC) seeking a limited variance regarding certain affiliate transactions that would occur between KCP&L, GMO and Westar if GPE completes its merger with Westar.
After the application for the variance was filed, the joint applicants and the PSC staff filed a non-unanimous stipulation and agreement that would purportedly settle all issues relevant to the joint application variance. Objections to the non-unanimous stipulation and agreement must be filed no later than Oct. 26, says the PSC. (More information on submitting comments can be found here.)
Earlier this year, GPE, the parent company of KCP&L, announced its intention to acquire Westar in a combined cash and stock transaction with an enterprise value of approximately $12.2 billion, including total equity value of approximately $8.6 billion.
Upon closing, Westar would become a wholly owned subsidiary of Great Plains Energy. In addition, the companies said, the combined entity would have one of the largest portfolios of wind generation in the country.
