Press release
Evergy Files Kansas First Rate Review in Five Years to Recover Investments to Modernize the Power Grid, Increase Reliability and Enhance Customer Service
Ongoing savings achieved since 2018 exceeded projections, reducing the overall Kansas rate increase request by more than 37% KANSAS CITY, Mo.--(BUSINESS
About this update from Evergy, Inc.
[{"type":"text","content":"\nOngoing savings achieved since 2018 exceeded projections, reducing the overall Kansas rate increase request by more than 37%\n\n\n KANSAS CITY, Mo.--(BUSINESS WIRE)--\nToday Evergy (NASDAQ: EVRG) filed a request and supporting documentation with the Kansas Corporation Commission to recover investments made to improve service to customers with a more reliable and resilient power grid and updated customer service systems. This is the first base rate review Evergy has requested in five years.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230424005982/en/Regional changes in electricity rates (Graphic: Business Wire)\nEvergy was formed in 2018 by the merger of Westar Energy and Great Plains Energy. As part of the merger approval, Evergy agreed to keep the energy company local by maintaining its Kansas headquarters in Topeka and continuing to invest millions annually in local community organizations and charities throughout its Kansas service area. Evergy also committed to significantly reduce the operating costs of the combined company, to pass those savings on to customers and not to ask for an increase to base rates for five years. Evergy has kept all of those commitments.\n\n\nFor the Evergy Kansas Central service area, the company is requesting a net revenue increase of $204 million or a 9.77% overall rate increase — reflecting a reduction of nearly $89 million in operating costs and other billing line items. If the full request is approved, the monthly bill increase for an average residential customer would be about $14.24. Evergy Kansas Central includes approximately 736,000 customers in Topeka, Pittsburg, Wichita, Hutchinson and other communities in the eastern third of the state. In the Evergy Kansas Metro service area, the company is requesting a net revenue increase of $14 million or a 1.95% overall rate increase — reflecting a reduction of nearly $41 million in operating costs and other billing line items. If the full request is approved, the monthly bill increase for an average residential customer would be about $3.47. Evergy Kansas Metro includes approximately 273,000 customers in Lenexa, Overland Park and other communities near the Kansas City metro area.\n\n\n“We formed Evergy with a focus of reducing costs and making rates more affordable and competi...