f8kkccdelay.htm
SECURITIES
AND EXCHANGE COMMISSION
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Washington,
D.C. 20549
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FORM
8-K
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Current
Report
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Pursuant
to Section 13 or 15(d) of the
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Securities
Exchange Act of 1934
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Date
of Report (Date of earliest event reported): March 6,
2009
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Commission
File
Number
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Registrant,
State of Incorporation,
Address
and Telephone Number
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I.R.S.
Employer
Identification
Number
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001-32206
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GREAT
PLAINS ENERGY INCORPORATED
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43-1916803
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(A
Missouri Corporation)
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1201
Walnut Street
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Kansas
City, Missouri 64106
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(816)
556-2200
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NOT
APPLICABLE
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(Former
name or former address,
if
changed since last report)
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000-51873
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KANSAS
CITY POWER & LIGHT COMPANY
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44-0308720
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(A
Missouri Corporation)
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1201
Walnut Street
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Kansas
City, Missouri 64106
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(816)
556-2200
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NOT
APPLICABLE
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(Former
name or former address,
if
changed since last report)
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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:
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act
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(17
CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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This
combined Current Report on Form 8-K is being furnished by Great Plains Energy
Incorporated (Great Plains Energy) and Kansas City Power & Light Company
(KCP&L). KCP&L is a wholly owned subsidiary of Great Plains
Energy and represents a significant portion of its assets, liabilities,
revenues, expenses and operations. Thus, all information contained in
this report relates to, and is furnished by, Great Plains
Energy. Information that is specifically identified in this report as
relating solely to Great Plains Energy, such as its financial statements and all
information relating to Great Plains Energy’s other operations, businesses and
subsidiaries, including KCP&L Greater Missouri Operations Company, formerly
Aquila, Inc. (GMO), does not relate to, and is not furnished by,
KCP&L. KCP&L makes no representation as to that
information. Neither Great Plains Energy nor GMO has any obligation
in respect of KCP&L’s debt securities and holders of such securities should
not consider Great Plains Energy’s or GMO’s financial resources or results of
operations in making a decision with respect to KCP&L’s debt
securities. Similarly, KCP&L has no obligation in respect of
securities of Great Plains Energy or GMO.
Item
7.01
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Regulation
FD Disclosure
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On March
6, 2009, KCP&L and certain other parties to KCP&L’s pending Kansas rate
case filed a procedural stipulation with the Kansas Corporation Commission (the
“KCC”) that, among other things, would move the expected effective date of the
KCC’s order in KCP&L’s pending rate case in Kansas from July 5, 2009 to
August 14, 2009. Any rate changes ordered by the KCC would be
implemented when new rate schedules are filed shortly after the effective
date. The KCC is expected to rule on the stipulation on March 9,
2009. It is possible that the final order from the KCC will authorize
a lower rate increase than what KCP&L has requested, or no increase or a
rate reduction. Management cannot predict or provide any assurances
regarding the outcome of these proceedings.
Great
Plains Energy estimates, based upon the amount of rate increase requested in
Kansas, that the impact of the delay would be to reduce 2009 earnings by
approximately $0.07 per share of Great Plains Energy common
stock. KCP&L estimates the same impact on its 2009
earnings. All of this impact is expected to be offset by cost
reduction measures. Great Plains Energy reaffirms its 2009 earnings
guidance range of $1.10 to $1.40 per share.
The
information under this Item 7.01 is being furnished and shall not be deemed
filed for the purpose of Section 18 of the Securities Exchange Act of 1934, as
amended. The information under this Item 7.01 shall not be deemed
incorporated by reference into any registration statement or other document
pursuant to the Securities Act of 1933, as amended, unless otherwise expressly
indicated in such registration statement or other document.
FORWARD-LOOKING
STATEMENTS
Statements
made in this report 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 the Comprehensive Energy Plan and
other matters affecting future operations. In connection with the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995, the
registrants 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,
including, but not limited to, possible further deterioration in economic
conditions and the timing and extent of any economic recovery; prices and
availability of electricity in regional and national wholesale markets; market
perception of the energy industry, Great Plains Energy, KCP&L and KCPL
Greater Missouri Operations Company (“GMO”); 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; decisions of regulators regarding rates KCP&L and
GMO 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; 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, but not limited to, weather-related damage and their effects on
sales, prices and costs; cost, availability, quality and deliverability of fuel;
ability to achieve generation planning goals and the occurrence and duration of
planned and unplanned generation outages; delays in the anticipated in-service
dates and cost increases of additional generating capacity and environmental
projects; nuclear operations; workforce risks, including, but not limited to,
retirement compensation and benefits costs; the ability to successfully
integrate KCP&L and GMO operations and the timing and amount of resulting
synergy savings; 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 most recent quarterly report on Form 10-Q or annual
report on Form 10-K filed with the Securities and Exchange
Commission. Any forward-looking statement speaks only as of the date
on which such statement is made. 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.
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.
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GREAT
PLAINS ENERGY INCORPORATED
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/s/
Terry Bassham
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Terry
Bassham
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Executive
Vice President- Finance & Strategic Development and Chief Financial
Officer
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KANSAS
CITY POWER & LIGHT COMPANY
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/s/
Terry Bassham
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Terry
Bassham
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Chief
Financial Officer
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Date: March
6, 2009