KCP&L Files Rate Request With KCC

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KCP&L seeks to recover costs related to federally mandated environmental upgrades at its La Cygne Power Plant.

KANSAS CITY, Mo. (Dec. 10, 2013) — Kansas City Power & Light Company (KCP&L), a subsidiary of Great Plains Energy Incorporated (NYSE: GXP), filed a rate increase request with the Kansas Corporation Commission (KCC) to increase base rates for electric service in its Kansas service area. The company is seeking to raise rates 2.3 percent or $2.35 per month for the typical residential customer1. The rate increase request process takes approximately eight months in Kansas. If approved, new rates are expected to be effective in August 2014.

This request is limited to a portion of the costs for the environmental upgrades at the La Cygne power plant, one of the company’s largest and lowest cost coal-fired generating facilities. The environmental equipment being installed will significantly reduce emissions and improve air quality. The upgrades will allow La Cygne to continue providing affordable electricity to the region for decades to come.

“Our La Cygne plant provides electricity at a competitive price, and these environmental upgrades are the most cost-effective option to improve air quality and comply with mandates that will allow the plant to continue operating,” said Terry Bassham, President and CEO of Great Plains Energy and KCP&L.

In 2011, the KCC approved the La Cygne environmental retrofit project and associated cost estimates. The project is currently on schedule and on budget. Key systems scheduled for completion in 2013 include the installation of distributed control systems for the power plant, which are technology systems used by operators to control the units at La Cygne, including the new air quality control system. Construction began in September 2011 and the project is scheduled to be completed in June 2015.

For more information about the regulatory and rate increase request processes, visit kcpl.com/rateprocess.

1The typical residential customer in Kansas uses a monthly average of 1490 kWh in the summer and 800 kWh in the winter.

About Great Plains Energy: 
Headquartered in Kansas City, Mo., Great Plains Energy Incorporated (NYSE: GXP) is the holding company of Kansas City Power & Light Company and KCP&L Greater Missouri Operations Company, two of the leading regulated providers of electricity in the Midwest. Kansas City Power & Light and KCP&L Greater Missouri Operations use KCP&L as a brand name. More information about the companies is available on the Internet at www.greatplainsenergy.com or www.kcpl.com.

Forward-Looking Statements:
Statements made in this release that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made.  Forward-looking statements include, but are not limited to, the outcome of regulatory proceedings, cost estimates of capital projects and other matters affecting future operations.  In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Great Plains Energy and KCP&L are providing a number of important factors that could cause actual results to differ materially from the provided forward-looking information.  These important factors include: future economic conditions in regional, national and international markets and their effects on sales, prices and costs; prices and availability of electricity in regional and national wholesale markets; market perception of the energy industry, Great Plains Energy and KCP&L; changes in business strategy, operations or development plans; the outcome of contract negotiations for goods and services including transportation and labor agreements; effects of current or proposed state and federal legislative and regulatory actions or developments, including, but not limited to, deregulation, re-regulation and restructuring of the electric utility industry; decisions of regulators regarding rates the Companies can charge for electricity; adverse changes in applicable laws, regulations, rules, principles or practices governing tax, accounting and environmental matters including, but not limited to, air and water quality; financial market conditions and performance including, but not limited to, changes in interest rates and credit spreads and in availability and cost of capital and the effects on nuclear decommissioning trust and pension plan assets and costs; impairments of long-lived assets or goodwill; credit ratings; inflation rates; effectiveness of risk management policies and procedures and the ability of counterparties to satisfy their contractual commitments; impact of terrorist acts, including but not limited to cyber terrorism; ability to carry out marketing and sales plans; weather conditions including, but not limited to, weather-related damage and their effects on sales, prices and costs; cost, availability, quality and deliverability of fuel; the inherent uncertainties in estimating the effects of weather, economic conditions and other factors on customer consumption and financial results; ability to achieve generation goals and the occurrence and duration of planned and unplanned generation outages; delays in the anticipated in-service dates and cost increases of generation, transmission, distribution or other projects; the inherent risks associated with the ownership and operation of a nuclear facility including, but not limited to, environmental, health, safety, regulatory and financial risks; workforce risks, including, but not limited to, increased costs of retirement, health care and other benefits; and other risks and uncertainties.

This list of factors is not all-inclusive because it is not possible to predict all factors. Other risk factors are detailed from time to time in Great Plains Energy’s and KCP&L’s quarterly reports on Form 10-Q and annual report on Form 10-K filed with the Securities and Exchange Commission.  Each forward-looking statement speaks only as of the date of the particular statement.  Great Plains Energy and KCP&L undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Great Plains Energy/KCP&L Contacts:
Investors: Tony Carreño, Director, Investor Relations, 816-654-1763,
Media: Katie McDonald, Director, Corporate Communications, 816-556-2365,