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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.

Exhibit 99

FOR IMMEDIATE RELEASE

GREAT PLAINS ENERGY ANNOUNCES THIRD QUARTER FINANCIAL RESULTS

Increases 2005 Core Earnings Guidance

KANSAS CITY, MO, November 1, 2005 – Great Plains Energy Incorporated (NYSE:GXP) today announced third quarter 2005 earnings available for common shareholders of $90.4 million or $1.21 per share, compared to third quarter 2004 earnings of $75.5 million or $1.02 per share. Core earnings, which exclude the impact of KLT Gas discontinued operations and mark-to-market gains and losses on energy contracts, were $77.9 million or $1.05 per share, compared to $65.0 million or $0.87 per share in the third quarter of 2004.

Year to date September 30, 2005, earnings were $131.7 million or $1.77 per share, compared to $143.6 million or $2.02 per share for the same period last year. Core earnings year to date were $118.4 million or $1.59 per share, compared to $135.4 million or $1.90 per share for same period last year.

Chairman Michael Chesser commented, “During the quarter KCP&L overcame the failure of the relatively new main transformer at our Hawthorn 5 coal plant. The 32-day outage caused increased fuel and purchased power expenses and lower wholesale revenues. Despite this outage, 2005 remains on track to be one of the company’s best years for coal fleet availability. With Hawthorn 5 now back in service, KCP&L expects to be able to sell wholesale MWh’s at higher prices than previously expected during the fourth quarter.”

“Strategic Energy’s performance has also been encouraging,” Chesser pointed out. “Despite the challenging environment of high energy prices, Strategic Energy’s year to date MWh’s delivered are consistent with those for 2004 and it has retained more than 80% of its customer load. We’ve experienced strong demand for our new index-based products, which accounted for almost 60% of new contract volume for the year. We continue to believe Strategic Energy has re-positioned itself to succeed within the volatile energy price environment and to capitalize on growth opportunities in competitive supply once the pricing environment improves.”

Mr. Chesser concluded, “Based on our performance year to date and expectations for higher wholesale prices in the fourth quarter, we are increasing Great Plains Energy’s 2005 core earnings guidance to a range of $2.15 to $2.30 per share.” (See Attachment G)

Kansas City Power & Light

KCP&L earned $69.1 million in the third quarter 2005, compared to $64.2 million in the same period last year. Third quarter 2005 revenues were $353.0 million, up from $323.3 million last year.

Retail revenues increased $31.5 million to $309.5 million compared to the same quarter last year driven by warmer weather. Wholesale revenues during the quarter were $39.3

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million, down 3% from the year ago period. Higher retail usage, the Hawthorn 5 outage and coal conservation measures led to third quarter wholesale volumes which were 37% lower than last year. However, the decrease in wholesale volume was largely offset by wholesale prices that were almost double last year’s average level.

Fuel and purchased power costs during the third quarter were $36.0 million higher than last year driven by the Hawthorn 5 outage and higher natural gas prices. Third quarter income taxes were $16.2 million lower than last year primarily due to a lower composite tax rate and lower taxable income. KCP&L also benefited from the regulatory accounting treatment of pension expense.

Year to date September 30, 2005, KCP&L’s earnings were $109.0 million, compared to $118.4 million in the same period last year. The lower year to date earnings were driven by a $37.9 million increase in fuel and purchased power expenses, and the effect of scheduled and forced outages on wholesale sales, which more than offset favorable weather, higher wholesale prices and lower interest and income tax expenses.

Strategic Energy

Strategic Energy earned $18.1 million in the third quarter of 2005, compared to $13.4 million in the same period last year. Third quarter revenues increased 10% from the same period last year to $429.9 million driven by increased power prices, while retail MWhs delivered during the quarter declined by 5%. Core earnings in the third quarter of 2005, which exclude $10.7 million in after-tax, net mark-to-market gains on energy contracts, were $7.4 million or $0.10 per share in the third quarter compared to $10.9 million or $0.14 per share last year. As discussed last quarter, results were also impacted by a transitional charge, called Seams Elimination Cost Adjustment or SECA, related to the Midwest Independent Transmission System Operator, Inc. and PJM Interconnection markets.

Third quarter retail gross margins per MWh were $7.85, which includes $3.36 per MWh due to net mark-to-market gains on energy contracts. This compares to retail gross margins of $5.50 last year, which included $0.77 of net mark-to-market gains on energy contracts. Average retail gross margin per MWh on new contracts in the third quarter was $3.53, up from $2.86 in the second quarter, primarily due to increased sales to smaller, high margin customers.

Year to date September 30, 2005, Strategic Energy earned $34.6 million, compared to $32.0 million in the same period last year. Earnings for the year to date period were impacted by mark-to-market gains on energy contracts and $4.7 million after tax due to SECA. Core earnings, which exclude $15.1 million in after-tax, net mark-to-market gains on energy contracts, were $19.5 million or $0.26 per share year to date compared to $29.8 million or $0.42 per share last year. Core earnings were also impacted by SECA charges. Year to date MWhs delivered were flat compared to last year, while retail gross margins per MWh were $6.30, which included $1.71 per MWh of net mark-to-market gains on energy contracts. This compares to $6.00 in 2004, which included $0.25 per MWh of net mark-to-market gains on energy contracts.

At September 30, Strategic Energy had 4.1 million MWhs in backlog for 2005. When combined with the 15.2 million MWhs delivered year to date, Strategic Energy expects 2005 deliveries to be within the previously stated range of 17.5-21 million MWhs.

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“Other” Category

The “other” category was breakeven during the quarter compared to a loss of $10.8 million in the third quarter last year. Results in this year’s quarter reflect the release of tax reserves. Additionally, while not affecting Great Plains Energy’s consolidated earnings, results in the same quarter last year included a loss due to changes in parent company tax allocations.

Non-GAAP Financial Measure

Great Plains Energy provides in its earnings releases descriptions of “core earnings” in addition to earnings calculated in accordance with GAAP. Great Plains Energy also provides its earnings guidance in terms of core earnings. Core earnings is a non-GAAP financial measure that differs from GAAP earnings because it excludes the effects of discontinued operations, certain unusual items and mark-to-market gains and losses on energy contracts. Core earnings for historical periods are reconciled to GAAP earnings in Attachments B and C.

Great Plains Energy previously provided a non-GAAP financial measure entitled “Ongoing earnings” which excluded the effects of discontinued operations and certain non-recurring items but included mark-to-market gains and losses on energy contracts. The company believes core earnings provide to investors a more meaningful indicator of its results that is comparable among periods because it excludes the effects of discontinued operations, unusual items and mark-to-market gains and losses on energy contracts. These items are excluded from core earnings because they may not be indicative of Great Plains Energy’s prospective earnings potential. Investors should note that this non-GAAP measure involves judgments by management including whether an item is classified as an unusual item. Core earnings is used internally to measure performance against budget and in reports for management and the Board of Directors. Great Plains Energy’s definition of core earnings may differ from similar terms used by other companies.

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 and duration of unplanned 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.

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Attachment A

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Attachment B

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Attachment C

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Attachment D

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Attachment E

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Attachment E continued

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Attachment F

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Attachment G

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 core earnings guidance to GAAP earnings per share because we do not predict the future impact of unusual items and mark-to-market gains or losses on energy contracts. The impact of unusual items could be material to our operating results computed in accordance with GAAP.

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