Evergy to explain the dramatic expenditure increase to the Kansas Corporation Commission

TOPEKA – The Kansas Corporation Commission (KCC) has scheduled a workshop on December 13 at 9:30 a.m. to give Evergy officials an opportunity to explain a dramatic increase in the company’s capital expenditure projections. The plan, filed earlier this year, showed an increase of $1.2 billion compared to projections shared when the company presented its Sustainability Transformation Plan (STP) last year.

In an order issued on September 15, the Commission directed Evergy to work with KCC staff and the Citizens Utility Ratepayer Board (CURB) to schedule the workshop, which will be conducted by Zoom and available for public viewing on the Commission’s YouTube channel. The workshop will also be recorded for later viewing.

During the workshop, Evergy will be asked to explain the necessity and impact of the proposed capital spending and answer questions from KCC Commissioners, Commission Staff and CURB. Prior to the workshop, Evergy is required to file updated and comprehensive financial modeling showing expected retail rate changes resulting from continued increases in capital expenditures. That information must be submitted by December 2.

Evergy is required to file a Capital Investment Plan with the KCC annually. A report filed by Commission Staff in response to the 2022 report expressed concern that the expenditures outlined exceeded those reported in the STP by 21.82%. The 2022 five-year Capital Investment plan was $1 billion higher than the 2021 five-year plan, and this increased spending projection was on top of a previously announced $1 billion increase between Evergy’s 2020 and 2021 five-year plan.