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Report on Form 8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 3, 2005

Commission File Number	Registrant, State of Incorporation, Address and Telephone Number	I.R.S. Employer Identification Number


001-32206	GREAT PLAINS ENERGY INCORPORATED	43-1916803
	(A Missouri Corporation)
	1201 Walnut Street
	Kansas City, Missouri 64106
	(816) 556-2200

	NOT APPLICABLE
(Former name or former address, if changed since last report)


1-707	KANSAS CITY POWER & LIGHT COMPANY	44-0308720
	(A Missouri Corporation)
	1201 Walnut Street
	Kansas City, Missouri 64106
	(816) 556-2200

	NOT APPLICABLE
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Great Plains Energy Incorporated (Great Plains Energy) and Kansas City Power & Light Company (KCP&L) (the Registrants) are separately furnishing this combined Current Report on Form 8-K (Report). Information contained herein relating to an individual Registrant is furnished by such registrant on its own behalf. Each Registrant makes representations only as to information relating to itself.

Item 2.02 Results of Operations and Financial Condition

On August 3, 2005, Great Plains Energy issued a press release announcing 2005 second quarter earnings information and reaffirming 2005 ongoing earnings guidance. A copy of the press release is attached to this report on Form 8-K as Exhibit 99.

The press release contains information regarding Great Plains Energy's reportable segments, including the KCP&L reportable segment. Accordingly, this report is also being furnished on behalf of KCP&L.

The information, including the exhibit attached hereto, in this report is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

Item 9.01	Financial Statements and Exhibits

(c) Exhibit No.

99	Press release issued by Great Plains Energy Incorporated on August 3, 2005.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

GREAT PLAINS ENERGY INCORPORATED

/s/Terry Bassham

Terry Bassham

Executive Vice President- Finance & Strategic Development and Chief Financial Officer

KANSAS CITY POWER & LIGHT COMPANY

/s/Terry Bassham

Terry Bassham

Chief Financial Officer

Date: August 3, 2005

Exhibit 99

Media Contact: Tom Robinson
816-556-2902

Investor Contact: Todd Allen
816-556-2083

FOR IMMEDIATE RELEASE

GREAT PLAINS ENERGY ANNOUNCES SECOND QUARTER FINANCIAL RESULTS

KANSAS CITY, MO, August 3, 2005 – Great Plains Energy Incorporated (NYSE:GXP) today announced second quarter 2005 earnings available for common shareholders of $21.5 million or $0.29 per share, compared to second quarter 2004 earnings of $41.2 million or $0.59 per share. Ongoing earnings, which exclude the impact of KLT Gas discontinued operations, were $25.1 million or $0.34 per share, compared to $41.0 million or $0.59 per share in the second quarter of 2004.

Year to date June 30, 2005, earnings were $41.3 million or $0.55 per share, compared to $68.1 million or $0.98 per share for the same period last year. Ongoing earnings for the first six months were $44.9 million or $0.60 per share, compared to $70.1 million or $1.01 per share for same period last year.

The decrease in second quarter earnings compared to the same period in 2004 was primarily driven by continued lower retail margins and transitional transmission charges recorded by Strategic Energy, and the timing of reductions of affordable housing investments. Reduced wholesale sales related to the extended refueling outage at Wolf Creek also contributed to lower second quarter earnings when compared to 2004. In addition, year to date earnings were impacted by higher operating expenses at Kansas City Power & Light (KCP&L) and plant outages that reduced wholesale revenue. These items more than offset favorable weather and higher wholesale prices experienced by KCP&L.

“We have confidence in our full-year guidance of $2.05 to $2.20 per share,” said Chairman Michael Chesser. “The challenges we faced in the first part of the year, including lower wholesale sales at KCP&L and a transitional transmission charge at Strategic Energy, should be offset by positive developments in the second half, including tax impacts, the timing of reductions in affordable housing investments, the regulatory treatment of pension expenses, and more favorable weather than we experienced a year ago.

“In addition, we are buoyed by the unanimous approval of our Comprehensive Energy Plan in Missouri and anticipate a similar result soon in Kansas. This will allow us to build the generation we need to support our region’s strong economic growth. And, it sets the stage for continued strong performance for our shareholders and customers well into the future.”

Kansas City Power & Light

KCP&L, an integrated, regulated electric utility, earned $29.1 million in the second quarter 2005, compared to $32.6 million in the same period last year. Second quarter 2005 revenues were $272.1 million, down slightly from the same quarter last year.

Page 2

Retail revenues increased $11.2 million to $231.9 million compared to the same quarter last year driven by 20% warmer than normal weather. This increased retail usage and, to a greater extent, a scheduled refueling outage at Wolf Creek, reduced the volume available for wholesale, resulting in decreased wholesale revenues of $12.7 million compared to the same quarter last year. During the second quarter, KCP&L completed the refueling outage at Wolf Creek in 40 days, roughly one week longer than originally scheduled.

In addition to the slightly lower revenues, earnings were also impacted by higher operating expenses. Despite lower generation, fuel costs were slightly higher due to increases in the cost of coal and coal transportation, as well as an unfavorable fuel mix when compared to the prior year period. Also, other operating expenses were $4.4 million higher due to numerous factors.

Year to date June 30, 2005, KCP&L’s earnings were $39.9 million, compared to $54.2 million in the same period last year driven by a $15.0 million increase in operating and maintenance expenses, and the effect of longer than anticipated scheduled and unplanned outages on wholesale sales, which more than offset favorable weather, higher wholesale prices and lower interest and income tax expenses.

Strategic Energy

Strategic Energy, a competitive electricity supplier, earned $3.7 million in the second quarter of 2005, compared to $9.3 million in the same period last year. Second quarter revenues increased 6% from the same period last year to $359.6 million, while retail MWhs delivered during the quarter grew slightly to 5.2 million. Results for this quarter were impacted by a $3.0 million favorable net change in fair values related to energy contracts that do not qualify for hedge accounting and from hedge ineffectiveness and a $7.2 million RTO transition charge called Seams Elimination Cost Adjustment (SECA). The SECA charge is being disputed by several market participants. Unless revised, however, SECA is expected to continue at approximately $1 million per month in additional expense through March 2006.

Year to date June 30, 2005, Strategic Energy earned $16.5 million, compared to $18.6 million in the same period last year. Retail gross margin per MWh declined to $5.45 compared to $6.35 in 2004. Earnings for the year to date period were impacted by the previously mentioned SECA charge and an $8.3 million favorable net change in fair values related to energy contracts. At June 30, Strategic Energy had 8.9 million MWhs in backlog for 2005. When combined with the 9.8 million MWhs delivered year to date, Strategic Energy expects 2005 deliveries to be well within the previously stated range of 17.5-21 million MWhs.

Earnings Guidance

Great Plains Energy’s ongoing earnings guidance for 2005 is reaffirmed at $2.05 to $2.20 per share (see Attachment G). KCP&L’s segment contribution to Great Plains Energy’s ongoing earnings is revised to $1.96 to $2.03 per share or $0.10 above previous segment guidance. KCP&L is expected to recognize approximately $0.14 per share in effects of tax planning in the third quarter, partially offset by $0.04 per share in higher expenses.

Page 3

Strategic Energy’s contribution to Great Plains Energy’s 2005 ongoing earnings per share is expected to be between $0.26 and $0.31, or $0.10 per share below previous guidance due to the inclusion on the SECA charges.

Non-GAAP Financial Measure

Great Plains Energy provides in its earnings releases descriptions of “ongoing earnings” in addition to earnings calculated in accordance with GAAP. Great Plains Energy also provides its earnings guidance in terms of ongoing earnings. Ongoing earnings is a non-GAAP financial measure that differs from GAAP earnings because it excludes the effect of certain unusual items. Ongoing earnings for historical periods are reconciled to GAAP earnings in Attachments B and C.

Great Plains Energy believes ongoing earnings provides to investors a useful indicator of its results that are comparable among periods because it excludes the effects of unusual items, which may occur on an irregular basis. Investors should note that this non-GAAP measure involves judgments by management including whether an item is classified as an unusual item. Ongoing earnings is used internally to measure performance against budget, in reports for management and the board of directors, and in determining incentive compensation.

Great Plains Energy Incorporated (NYSE:GXP) headquartered in Kansas City, MO, is the holding company for Kansas City Power & Light Company, a leading regulated provider of electricity in the Midwest, and Strategic Energy LLC, a competitive electricity supplier. The Company’s web site is www.greatplainsenergy.com.

CERTAIN FORWARD-LOOKING INFORMATION — 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. In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company is 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 the regional, national and international markets, including but not limited to regional and national wholesale electricity markets; market perception of the energy industry and the Company; changes in business strategy, operations or development plans; 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 and constraints placed on the Company’s actions by the Public Utility Holding Company Act of 1935; adverse changes in applicable laws, regulations, rules, principles or practices governing tax, accounting and environmental matters including, but not limited to, air quality; financial market conditions and performance including, but not limited to, changes in interest rates and in availability and cost of capital and the effects on the Company’s pension plan assets and costs; ability to maintain current 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; increased competition including, but not limited to, retail choice in the electric utility industry and the entry of new competitors; ability to carry out marketing and sales plans; weather conditions including weather-related damage; cost, availability, quality and deliverability of fuel; ability to achieve generation planning goals and the occurrence of forced generation outages; delays in the anticipated in-service dates of additional generating capacity; nuclear operations; ability to enter new markets successfully and capitalize on growth opportunities in non-regulated businesses; performance of projects undertaken by the Company’s non-regulated businesses and the success of efforts to invest in and develop new opportunities; and other risks and uncertainties. This list of factors is not all-inclusive because it is not possible to predict all factors.

Page 4

Attachment A

	Three Months Ended June 30						Year to Date June 30
GREAT PLAINS ENERGY Consolidated Statements of Income (Unaudited)
	2005			2004			2005			2004

Operating Revenues	(thousands)
Electric revenues - KCP&L	$	272,083		$	274,625		$	505,298		$	521,160
Electric revenues - Strategic Energy		359,172			338,029			670,488			632,140
Other revenues		466			846			1,049			1,678

Total		631,721			613,500			1,176,835			1,154,978

Operating Expenses
Fuel		44,803			42,256			86,293			82,856
Purchased power - KCP&L		16,797			17,353			28,287			29,820
Purchased power - Strategic Energy		338,836			307,404			616,702			571,758
Other		84,375			77,906			164,270			157,640
Maintenance		20,552			23,559			49,910			44,030
Depreciation and amortization		38,241			37,565			76,103			74,085
General taxes		26,566			25,303			52,422			50,024
Gain on property		(994	)		(123	)		(1,513	)		(158	)

Total		569,176			531,223			1,072,474			1,010,055

Operating income		62,545			82,277			104,361			144,923
Non-operating income		9,847			1,557			11,771			2,969
Non-operating expenses		(9,657	)		(3,577	)		(10,972	)		(6,479	)
Interest charges		(18,386	)		(18,966	)		(35,873	)		(37,305	)

Income from continuing operations before income taxes,
minority interest in subsidiaries and loss from equity
investments		44,349			61,291			69,287			104,108
Income taxes		(9,805	)		(19,949	)		(15,096	)		(32,112	)
Minority interest in subsidiaries		(8,693	)		410			(7,805	)		(435	)
Loss from equity investments, net of income taxes		(344	)		(306	)		(689	)		(613	)

Income from continuing operations		25,507			41,446			45,697			70,948
Discontinued operations, net of income taxes		(3,606	)		159			(3,606	)		(2,019	)

Net income		21,901			41,605			42,091			68,929
Preferred stock dividend requirements		412			412			823			823

Earnings available for common shareholders	$	21,489		$	41,193		$	41,268		$	68,106

Average number of common shares outstanding		74,592			70,193			74,515			69,725
Basic and diluted earnings (loss) per common share
Continuing operations	$	0.34		$	0.59		$	0.60		$	1.01
Discontinued operations		(0.05	)		-			(0.05	)		(0.03	)

Basic and diluted earnings per common share	$	0.29		$	0.59		$	0.55		$	0.98

Cash dividends per common share	$	0.415		$	0.415		$	0.83		$	0.83

Page 5

Attachment B

GREAT PLAINS ENERGY Consolidated Earnings and Earnings Per Share Three Months Ended June 30 (Unaudited)

	Earnings						Earnings per Great Plains Energy Share

	2005			2004			2005			2004

	(millions)
KCP&L	$	29.1		$	32.6		$	0.39		$	0.47
Strategic Energy		3.7			9.3			0.05			0.13
KLT Investments		(2.5	)		3.2			(0.03	)		0.04
Other		(4.8	)		(3.7	)		(0.06	)		(0.05	)

Income from continuing operations		25.5			41.4			0.35			0.59
KLT Gas discontinued operations,
net of income taxes		(3.6	)		0.2			(0.05	)		-
Preferred dividends		(0.4	)		(0.4	)		(0.01	)		-

Earnings available for common shareholders	$	21.5		$	41.2		$	0.29		$	0.59

Reconciliation of GAAP to Non-GAAP
Earnings available for common shareholders	$	21.5		$	41.2		$	0.29		$	0.59
Reconciling items
KLT Gas -- Discontinued operations		3.6			(0.2	)		0.05			-

Ongoing earnings	$	25.1		$	41.0		$	0.34		$	0.59

Page 6

Attachment C

GREAT PLAINS ENERGY Consolidated Earnings and Earnings Per Share Year to Date June 30 (Unaudited)

	Earnings						Earnings per Great Plains Energy Share

	2005			2004			2005			2004

	(millions)
KCP&L	$	39	.9	$	54	.2	$	0	.54	$	0	.78
Strategic Energy		16	.5		18	.6		0	.22		0	.27
KLT Investments		0	.5		6	.4		0	.01		0	.09
Other		(11	.2)		(8	.3)		(0	.16)		(0	.12)

Income from continuing operations		45	.7		70	.9		0	.61		1	.02
KLT Gas discontinued operations,
net of income taxes		(3	.6)		(2	.0)		(0	.05)		(0	.03)
Preferred dividends		(0	.8)		(0	.8)		(0	.01)		(0	.01)

Earnings available for common shareholders	$	41	.3	$	68	.1	$	0	.55	$	0	.98

Reconciliation of GAAP to Non-GAAP
Earnings available for common shareholders	$	41	.3	$	68	.1	$	0	.55	$	0	.98
Reconciling items
KLT Gas -- Discontinued operations		3	.6		2	.0		0	.05		0	.03

Ongoing earnings	$	44	.9	$	70	.1	$	0	.60	$	1	.01

Page 7

Attachment D

	Consolidated GPE			KCP&L			Strategic Energy			Other
GREAT PLAINS ENERGY Summary Income Statement by Segment Three Months Ended June 30, 2005 (Unaudited)


	(millions)
Operating revenues	$	631.7		$	272.1		$	359.6		$	-
Fuel		(44.8	)		(44.8	)		-			-
Purchased power		(355.6	)		(16.8	)		(338.8	)		-
Other operating expense		(131.5	)		(114.7	)		(12.6	)		(4.2	)
Depreciation and amortization		(38.2	)		(36.7	)		(1.5	)		-
Gain on property		1.0			-			-			1.0

Operating income		62.6			59.1			6.7			(3.2	)
Non-operating income (expenses)		0.2			8.7			0.7			(9.2	)
Interest charges		(18.4	)		(15.5	)		(0.7	)		(2.2	)
Income taxes		(9.8	)		(14.5	)		(3.0	)		7.7
Minority interest in subsidiaries		(8.7	)		(8.7	)		-			-
Loss from equity investments		(0.4	)		-			-			(0.4	)
Discontinued operations		(3.6	)		-			-			(3.6	)

Net income (loss)	$	21.9		$	29.1		$	3.7		$	(10.9	)

Earnings (loss) per GPE common share	$	0.29		$	0.39		$	0.05		$	(0.15	)

	Consolidated GPE			KCP&L			Strategic Energy			Other
GREAT PLAINS ENERGY Summary Income Statement by Segment Year to Date June 30, 2005 (Unaudited)


	(millions)
Operating revenues	$	1,176.8		$	505.3		$	671.4		$	0.1
Fuel		(86.3	)		(86.3	)		-			-
Purchased power		(645.0	)		(28.3	)		(616.7	)		-
Other operating expense		(266.5	)		(232.9	)		(23.3	)		(10.3	)
Depreciation and amortization		(76.1	)		(73.0	)		(3.0	)		(0.1	)
Gain on property		1.5			-			-			1.5

Operating income		104.4			84.8			28.4			(8.8	)
Non-operating income (expenses)		0.8			9.0			1.1			(9.3	)
Interest charges		(35.9	)		(30.1	)		(1.5	)		(4.3	)
Income taxes		(15.1	)		(16.0	)		(11.5	)		12.4
Minority interest in subsidiaries		(7.8	)		(7.8	)		-			-
Loss from equity investments		(0.7	)		-			-			(0.7	)
Discontinued operations		(3.6	)		-			-			(3.6	)

Net income (loss)	$	42.1		$	39.9		$	16.5		$	(14.3	)

Earnings (loss) per GPE common share	$	0.55		$	0.54		$	0.22		$	(0.21	)

Page 8

Attachment E

	June 30 2005		December 31 2004
GREAT PLAINS ENERGY Consolidated Balance Sheets (Unaudited)

ASSETS	(thousands)
Current Assets
Cash and cash equivalents	$	76,543	$	127,129
Restricted cash		-		7,700
Receivables, net		343,847		247,184
Fuel inventories, at average cost		23,365		21,121
Materials and supplies, at average cost		55,532		54,432
Deferred income taxes		-		13,065
Assets of discontinued operations		2,677		749
Derivative instruments		24,056		6,372
Other		23,124		14,485

Total		549,144		492,237

Nonutility Property and Investments
Affordable housing limited partnerships		30,388		41,317
Nuclear decommissioning trust fund		88,024		84,148
Other		32,936		32,739

Total		151,348		158,204

Utility Plant, at Original Cost
Electric		4,890,589		4,841,355
Less-accumulated depreciation		2,253,964		2,196,835

Net utility plant in service		2,636,625		2,644,520
Construction work in progress		59,244		53,821
Nuclear fuel, net of amortization of $107,284 and $127,631		31,873		36,109

Total		2,727,742		2,734,450

Deferred Charges and Other Assets
Regulatory assets		141,231		144,345
Prepaid pension costs		103,936		119,811
Goodwill		87,624		86,767
Other		69,920		63,087

Total		402,711		414,010

Total	$	3,830,945	$	3,798,901

Page 9

Attachment E continued

	June 30 2005			December 31 2004
GREAT PLAINS ENERGY Consolidated Balance Sheets (Unaudited)

LIABILITIES AND CAPITALIZATION	(thousands)
Current Liabilities
Notes payable	$	16,000		$	20,000
Commercial paper		173,775			-
Current maturities of long-term debt		251,607			253,230
EIRR bonds classified as current		85,922			85,922
Accounts payable		230,585			199,952
Accrued taxes		57,026			46,993
Accrued interest		11,317			11,598
Accrued payroll and vacations		25,654			32,462
Accrued refueling outage costs		2,240			13,180
Supplier collateral		-			7,700
Liabilities of discontinued operations		6,390			2,129
Other		26,411			24,931

Total		886,927			698,097

Deferred Credits and Other Liabilities
Deferred income taxes		628,310			632,160
Deferred investment tax credits		31,643			33,587
Asset retirement obligations		115,347			113,674
Pension liability		96,873			95,805
Other		88,084			88,524

Total		960,257			963,750

Capitalization
Common shareholders' equity
Common stock-150,000,000 shares authorized without par value
74,671,646 and 74,394,423 shares issued, stated value		773,823			765,482
Unearned compensation		(2,890	)		(1,393	)
Capital stock premium and expense		(31,407	)		(32,112	)
Retained earnings		430,905			451,491
Treasury stock-32,084 and 28,488 shares, at cost		(965	)		(856	)
Accumulated other comprehensive loss		(33,708	)		(41,018	)

Total		1,135,758			1,141,594
Cumulative preferred stock $100 par value
3.80% - 100,000 shares issued		10,000			10,000
4.50% - 100,000 shares issued		10,000			10,000
4.20% - 70,000 shares issued		7,000			7,000
4.35% - 120,000 shares issued		12,000			12,000

Total		39,000			39,000
Long-term debt		809,003			956,460

Total		1,983,761			2,137,054

Commitments and Contingencies

Total	$	3,830,945		$	3,798,901

Page 10

Attachment F

	Three Months Ended June 30						Year to Date June 30
GREAT PLAINS ENERGY Statistical Summary

	2005			2004			2005			2004

KCP&L
Retail revenues (millions)	$	231.9		$	220.7		$	421.4		$	409.9
Wholesale revenues (millions)	$	37.3		$	50.0		$	76.4		$	103.6
Average wholesale price per MWh	$	38.37		$	31.87		$	36.49		$	32.20
Wholesale sales (MWh)		1,038			1,627			2,248			3,344
Cooling degree days		448			374			448			374
Equivalent availability - coal plants		82	%		79	%		80	%		81	%
Capacity factor - coal plants		78	%		75	%		76	%		78	%
Strategic Energy
MWhs delivered		5,136			5,066			9,761			9,464
MWhs delivered plus current year backlog		N/A			N/A			18,679			19,323
Average contract duration - overall (months)		14			7			14			9
Average contract duration - new business (months)		14			12			15			16
Average retail gross margins - overall	$	3.85		$	5.95		$	5.45		$	6.35
Retention rate		69	%		85	%		71	%		80	%
Retention rate including month to month customers		83	%		88	%		81	%		87	%

Page 11

Attachment G

GREAT PLAINS ENERGY 2005 Ongoing Earnings Guidance

	Previous Range							Revised Range

Kansas City Power & Light	$	1	.86	-	$	1	.93	$	1	.96	-	$	2	.03
Strategic Energy ⁽¹⁾		0	.36	-		0	.41		0	.26	-		0	.31
KLT Investments		0	.07	-		0	.08		0	.07	-		0	.08
Other ⁽²⁾		(0	.24)	-		(0	.22)		(0	.24)	-		(0	.22)

Consolidated Ongoing EPS ⁽³⁾	$	2	.05	-	$	2	.20	$	2	.05	-	$	2	.20

¹Represents Great Plains Energy’s indirect ownership interest in Strategic Energy of just under 100%.

²Other includes Home Service Solutions, Holding Company cost and other miscellaneous items.

³Great Plains Energy is unable to reconcile its 2005 ongoing earnings guidance to GAAP earnings per share because we do not predict the future impact of unusual items. The impact of unusual items could be material to our operating results computed in accordance with GAAP.

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