Press release
Evergy Files Missouri Rate Review to Recover Costs to Modernize Grid, Improve Reliability and Enhance Customer Service
Ongoing savings from 2018 merger exceed projections, reduce the rate increase request by more than half. KANSAS CITY, Mo.--(BUSINESS WIRE)-- Today Evergy
About this update from Evergy, Inc.
[{"type":"text","content":"\nOngoing savings from 2018 merger exceed projections, reduce the rate increase request by more than half.\n\n KANSAS CITY, Mo.--(BUSINESS WIRE)--\nToday Evergy submitted a detailed rate review to the Missouri Public Service Commission (MPSC). The requested rate adjustment reflects investments to improve reliability, enhance customer service and enable the company’s transition to cleaner energy resources.\n\nMissouri law requires Evergy to file a rate review to update rates at least once every four years. If approved, this will be the first base rate increase for Evergy Missouri customers in more than five years. In recent years, Evergy has reduced operating costs and is passing savings on to customers in this rate review at levels greater than projected at the time of the merger. Including the current rate review request, throughout the last decade Evergy Missouri customers have experienced price increases that are well under the average annual rate of inflation for the same time period.\n\nFor Evergy Missouri Metro customers, the company is requesting approximately a 5.2% increase to its base rates. For Evergy Missouri West customers, the company is requesting approximately a 3.85% increase in base rates. The prices customers pay for electric service are calculated based on actual costs the company incurs. The filing today begins an 11-month process where regulators and interveners will review, audit and evaluate the request to assure the resulting prices reflect the cost of serving Evergy’s Missouri customers. The process will include public hearings, which are yet to be scheduled. To justify any price increase, Evergy must demonstrate that the costs were warranted and prudent. For more information on Evergy’s service areas, visit https://www.evergy.com/manage-account/rate-information-link/service-areas.\n\n“Since Evergy was formed in 2018, reducing operational costs to help fund our investments and make our rates more competitive has been one of our primary goals,” said David Campbell, Evergy president and chief executive officer. “We’ve exceeded our merger savings targets and are passing on those savings to customers as promised. These savings have enabled us to avoid base rate increases for five years. This year we’re asking to adjust our rates to reflect and recover necessary investments we have made to enhance reliabilit...