SEC Filing | Evergy, Inc.

UNITED STATES

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): October 29, 2010

Commission File Number	Exact Name of Registrant as Specified in its Charter, State of Incorporation, Address of Principal Executive Offices and Telephone Number	I.R.S. Employer Identification No.


001-32206	GREAT PLAINS ENERGY INCORPORATED	43-1916803
	(A Missouri Corporation)
	1200 Main Street
	Kansas City, Missouri 64105
	(816) 556-2200

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

000-51873	KANSAS CITY POWER & LIGHT COMPANY	44-0308720
	(A Missouri Corporation)
	1200 Main Street
	Kansas City, Missouri 64105
	(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))

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 (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

Regulation FD Disclosure

From October 31, 2010 through November 2, 2010, Great Plains Energy will participate in meetings with investors at the 2010 Edison Electric Institute Financial Conference, and will make a presentation scheduled for 2:15 p.m. Eastern Time on November 2, 2010. An audio-only webcast link and the presentation slides will be made available in the Investor Relations section of Great Plains Energy’s website at www.greatplainsenergy.com. In the webcast and presentation, Great Plains Energy will reaffirm its 2010 earnings guidance range of $1.52 to $1.62 per share which was previously provided on October 28, 2010. A copy of the presentation slides to be used in the investor meetings and presentation is attached hereto as Exhibit 99.1.

The presentation slides contain information regarding KCP&L. Accordingly, information in the presentation slides relating to KCP&L is also being furnished on behalf of KCP&L.

The information under this Item 7.01 and in Exhibit 99.1 hereto is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended or otherwise subject to the liabilities of that section. The information under this Item 7.01 and Exhibit 99.1 hereto 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.

Item 9.01	Financial Statements and Exhibits

(d) Exhibits
Exhibit No.	Description
99.1	2010 EEI Financial Conference presentation slides

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

	GREAT PLAINS ENERGY INCORPORATED



	/s/ Michael W. Cline
	Michael W. Cline
	Vice President-Investor Relations and Treasurer

	KANSAS CITY POWER & LIGHT COMPANY



	/s/ Michael W. Cline
	Michael W. Cline
	Vice President-Investor Relations and Treasurer

Date: October 29, 2010

Exhibit Index

Exhibit No.	Description

99.1	2010 EEI Financial Conference presentation slides

Great Plains Energy

Edison Electric Institute Financial Conference

November 2, 2010

2010 EEI Presentation

Michael J. Chesser

Chairman and CEO

Exhibit 99.1

Statements made in this presentation 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, 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, 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 and
KCP&L; 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
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; 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 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, increased costs of retirement, health care
and other benefits; the timing and amount of resulting synergy savings from the GMO acquisition; 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.

Forward Looking Statement

2010 EEI Presentation

• Solid Midwest electric utility operating under the KCP&L brand

• Transformational events in 2008 to focus business model on fully
regulated utility operations

– Sale of Strategic Energy

– Acquisition of Aquila (now KCP&L Greater Missouri Operations,
or “GMO”)

• Company attributes

– ~822,000 customers / 3,200+ employees

– ~6,600 MW of primarily low-cost coal baseload generation

– 5-year projected synergies post-GMO acquisition of ~$760M

– ~$8.5bn in assets and $4.4bn in rate base at 2009YE

Service Territories: KCP&L and GMO

Business Highlights

YTD MWh Sold by Customer Type

YTD MWh Sales by Jurisdiction

YTD MWh Generated by Fuel Type

Total: ~ 18,423 MWhs

Total: ~ 19,958 MWhs

2010 EEI Presentation

Note: Charts below reflect YTD 2010

Solid Vertically-Integrated Midwest Utility

Impressive Reliability

Solid Safety Record

Tier 1 Customer Service

Stewards of
the Environment

Reliable, Economical, and
Safe Nuclear Generation

Strong Plant Performance

2010 EEI Presentation

Executing the Plan

2010 EEI Presentation

Strategic Overview

Terry Bassham

Executive Vice President, Utility
Operations

2010 EEI Presentation

Steps to Completion of Iatan 2

1KCP&L’s initial request was subsequently adjusted to $50.9 million as the net result of updates to the case, most notably a reduction in the requested
ROE (see below footnote)

2The requested ROE was adjusted by KCP&L to 10.75% with the potential for a 0.25% adder (to 11.00% ROE) if the KCC adopts a particular rate design
proposal by KCC Staff and other interveners

Jurisdiction	Requested Increase	Requested ROE	Rate Base	Rates Effective	Decision
KCP&L - KS	$55.21	11.25%2	1,794.8	12/1/2010	Fall 2010
KCP&L - MO	$92.1	11.00%	2,122.8	5/4/2011	Spring 2011
GMO - MPS	$75.8	11.00%	1,468.7	6/4/2011	Spring 2011
GMO - L&P	$22.1	11.00%	422.0	6/4/2011	Spring 2011

(in $ millions)

2010 EEI Presentation

Pending Rate Case Summary

Drivers of Change

Environmental

Rules

Natural Gas

Prices

Load Growth

Energy

Legislation

Financing

Emergent

Technologies

2010 EEI Presentation

Sustainable Resource Strategy
Change Creates Opportunity

Transmission &
Distribution
Opportunities

Opportunities
Resulting from
SmartGrid
Technologies

Generation Fleet
Optimization
Opportunities

2010 EEI Presentation

Financial Overview

James C. Shay

Senior Vice President Finance &
Strategic Planning and CFO

2010 EEI Presentation

Electric Utility’s net income increased $52.3 million primarily driven by a $109.8 million increase in gross margin* due to
favorable impacts from weather and new retail rates

Increased number of shares outstanding primarily from the May 2009 equity offering resulted in dilution of $0.02 per
share

*Gross margin is defined and reconciled to GAAP operating revenues in the Appendix

2010 EEI Presentation

Electric Utility’s net income increased $98.7 million primarily driven by a $239.4 million increase in gross margin* due to
new retail rates and favorable impacts from weather

Other category earnings decreased $18.9 million primarily as a result of increased interest from the Equity Units issued in
2009 and a $16 million benefit in 2009 related to the settlement of GMO’s 2003 - 2004 federal tax audit

Increased number of shares outstanding primarily from the May 2009 equity offering resulted in dilution of $0.12 per
share

*Gross margin is defined and reconciled to GAAP operating revenues in the Appendix

2010 EEI Presentation

Electric Utility Third Quarter

(millions except

where indicated)

Earnings

Earnings Per Share

Key Earnings Drivers:

+ Increased gross margin of $109.8 million primarily due to significantly warmer weather and full-quarter impact of
new retail rates which took effect in August and September 2009

– Increased operating expense of $12.1 million primarily driven by $5.2 million increase in general taxes and $4.0
million Iatan 2 loss;

– Increased depreciation and amortization of $7.4 million, including $3.2 million of additional amortization pursuant
to KCP&L’s 2009 rate cases; and

– Decrease in non-operating income and expenses of $7.0 million, including $4.2 million less AFUDC equity due to
lower CWIP balances

2010 EEI Presentation

Key Earnings Drivers:

+ Increased gross margin of $239.4 million primarily due to new retail rates and favorable weather

– Increased operating expense of $40.7 million primarily due to planned plant outages, higher general taxes and
the Iatan 2 loss; and

– Increased depreciation and amortization of $28.2 million; including $17.2 million of additional amortization
pursuant to KCP&L’s 2009 rate cases

Earnings

Earnings Per Share

(millions except

where indicated)

2010 EEI Presentation

Electric Utility Year-to-Date

Electric Utility Segment

Retail MWh Sales by Customer Class - Third Quarter 2010

44%

12%

44%

2010 EEI Presentation

Debt and Capital Structure
as of September 30, 2010

Capital Structure

Great Plains Energy Debt ($ in millions)

2010 EEI Presentation


	KCP&L		GMO (1)		GPE		Consolidated
	Amount	Rate (2)	Amount	Rate (2)	Amount	Rate (2)	Amount	Rate (2)
Short-term Debt	$304.5(3)	0.80%	$0.0	0.00%	$22.0	3.06%	$326.5	0.95%
Long-term Debt(4)	$1,780.0	6.13%	$1,020.1	9.88%	$636.9	7.57%	$3,437.0	7.47%
Total	$2,084.5	5.35%	$1,020.1	9.88%	$658.9	7.42%	$3,763.5	6.89%

Secured debt = $862.3 (23%), Unsecured debt = $2,901.2 (77%)

(1) GPE guarantees substantially all of GMO’s debt

(2) Weighted Average Rates - excludes premium/discounts and fair market value adjustments; includes full Equity Units coupon (12%) for GPE

(3) Includes fully-drawn KCP&L A/R Securitization facility of $95 million

(4) Includes current maturities of long-term debt

2010 EEI Presentation

2010 EPS Guidance

• Increased to $1.52 - $1.62 from $1.30 - $1.50

• Key YTD drivers of new guidance include estimated
weather impact vs. normal, lower fuel cost at KCP&L -
Missouri, and lower transmission costs at GMO

• Guidance assumes no regulatory disallowance for Iatan
beyond that already recognized

Positioned for Long-term Earnings Growth

• Diligently pursue constructive outcomes in current rate cases

• Continue to deliver on GMO synergies and move toward Tier 1 costs
across the organization

• Evaluate future opportunities through Sustainable Resource Strategy
and continue to advocate on behalf of our shareholders, customers,
and communities

2010 EEI Presentation

Great Plains Energy

Edison Electric Institute Financial Conference

November 2, 2010

2010 EEI Presentation

Appendix

3Q 2010

Gross Margin Reconciliation

2010 EEI Presentation

Gross margin is a financial measure that is not calculated in accordance with generally accepted accounting principles (GAAP). Gross
margin, as used by Great Plains Energy, is defined as operating revenues less fuel, purchased power and transmission of electricity by
others. The Company’s expense for fuel, purchased power and transmission of electricity by others, offset by wholesale sales margin, is
subject to recovery through cost adjustment mechanisms, except for KCP&L’s Missouri retail operations. As a result, operating revenues
increase or decrease in relation to a significant portion of these expenses. Management believes that gross margin provides a more
meaningful basis for evaluating the Electric Utility segment’s operations across periods than operating revenues because gross margin
excludes the revenue effect of fluctuations in these expenses. Gross margin is used internally to measure performance against budget and
in reports for management and the Board of Directors. The Company’s definition of gross margin may differ from similar terms used by
other companies. A reconciliation to GAAP operating revenues is provided in the table above.

2010 EEI Presentation