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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 24, 1999
(August 23, 1999)
WESTERN RESOURCES, INC.
(Exact Name of Registrant as Specified in Its Charter)
KANSAS 1-3523 48-0290150
(State or Other Jurisdiction of (Commission (Employer
Incorporation or Organization) File Number) Identification No.)
818 KANSAS AVENUE, TOPEKA, KANSAS 66612
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number Including Area Code (785) 575-6300
WESTERN RESOURCES, INC.
Item 5. Other Events
Western Resources herein files the following:
Exhibit 99.1 - Press release issued on August 23, 1999: Western Resources,
KCPL Reach Agreement with FERC Staff.
SIGNATURE
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 thereunto duly authorized.
Western Resources, Inc.
Date August 24, 1999 By /s/ William B. Moore
William B. Moore, Executive Vice
President, Chief Financial
Officer and Treasurer
Date August 24, 1999 By /s/ Leroy P. Wages
Leroy P. Wages, Controller
Exhibit 99.1
August 23, 1999
WESTERN RESOURCES, KCPL REACH AGREEMENT WITH FERC STAFF
Western Resources today announced a settlement has been reached with the
Federal Energy Regulatory Commission (FERC) staff. The agreement resolves with
the FERC staff all issues which were set for hearing by the FERC in connection
with Western Resources' merger with Kansas City Power & Light Company (KCPL).
The agreement with the staff settles market power, transmission and, in
concept, customer protection issues. A document reflecting the settlement with
the FERC staff is expected to be filed with the FERC for its review within the
next few weeks. Other parties in the FERC docket also are reviewing the staff
settlement.
"We're pleased that this agreement with the FERC staff provides another
important milestone in our merger with KCPL," said David C. Wittig, Western
Resources chairman of the board, president and chief executive officer. "We
believe the agreement with the FERC staff provides an excellent framework for
settling with all parties who have jurisdictional issues in the FERC case.
"We also are pleased that the uncontested settlement we've reached in
Missouri is being reviewed by the Missouri Commissioners and, at this time, we
believe no further formal proceedings will be necessary in Missouri in order
for the Missouri Commission to reach a decision," said Wittig.
Wittig said the company continued to hope for a decision from the Kansas
Corporation Commission that will allow the company to create a financially
sound merger with KCPL by year end.
Under the terms of the FERC staff agreement, the merged company, which
will be known as Westar Energy, will join a FERC-approved regional
transmission organization (RTO). The RTO is designed to ensure all
participants in the regional electricity market have fair transmission access
and an equal opportunity to compete for generation supply.
The Southwest Power Pool (SPP) is developing an RTO which Western
Resources believes will meet the requirements of this agreement with the FERC
staff. Both Western Resources and KCPL are members of the SPP.
Hearings are scheduled to begin October 25 in Washington, D.C., if
necessary.
Forward-Looking Statements: Certain matters discussed in this employee
update are "forward-looking statements." The Private Securities Litigation
Reform Act of 1995 has established that these statements qualify for safe
harbors from liability. Forward-looking statements may include words like we
"believe", "anticipate," "expect" or words of similar meaning. Forward-looking
statements describe our future plans, objectives, expectations, or goals. Such
statements address future events and conditions concerning capital
expenditures, earnings, litigation, rate and other regulatory matters, the
outcome of accounting issues being reviewed by the SEC staff, possible
corporate restructurings, mergers, acquisitions, dispositions, liquidity and
capital resources, interest and dividend rates, year 2000 issue, environmental
matters, changing weather, nuclear operations, ability to enter new markets
successfully and capitalize on growth opportunities in nonregulated
businesses, events in foreign markets in which investments have been made, and
accounting matters. Our actual results may differ materially from those
discussed here. See the company's 1998 Annual Report on Form 10-K and
quarterly reports on Forms 10-Q for further discussion of factors affecting
the company's performance. Western Resources disclaims any obligation to
update any forward-looking statements as a result of developments occurring
after the date of this employee update.