Great Plains Energy says delay in rate increase could hurt earnings - Wichita Business Journal:

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The ordered a delay in the effective date for rate casew filed by units of Great PlainsEnergyu (NYSE: GXP) from Aug. 5 to Sept. 5, the company said in a Thursdauy filing with the Securities andExchange Commission. The delay applies to rate increases requested byand KCP&L Greatet Missouri Operations Co., formerly Aquila Inc. Great Plain s Energy estimated that the delay could reduce its earningw by 10 cents acommon share. KCP&L estimatedc that the delay could lower its 2009 earnings by 6 centa a share of Great Plains Energ ycommon stock.
Great Plains Energy said in the SEC filingy that itand KCP&L “will evaluatw potential alternatives to mitigate the financial impacts of this The PSC order also requires adjustments to reserves and rate base and interim rate costs, for KCP&L’s Iatanh 1 plant. Great Plains said the PSC order didn’gt have enuogh detail to allow the company to estimate itsfinancial effect. Great Plains said that it think the PSC exceeded its authority in establishing the conditions in a procedurapl order and that it will seeka rehearing, judicial reviee or both to remove or clarify the Great Plains Energy also reaffirmed its 2009 earningsa forecast of $1.10 to $1.40 a share. On Feb.
10 the company cut its dividendin half, to 20.75 centw a share, and lowered its 2009 earnings forecast from its earlier forecast of $1.30 to $1.60 a KCP&L filed a request with the PSC and the in Septembeer (http://kansascity.bizjournals.com/kansascity/stories/2008/09/08/daily1.html) to raise base rates for electric servics by $257.5 million combined in all five of its service The requests would raise a typical residentia l customer’s rates about 16.2 percent, or $12.
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