Breaking News

Great Plains Energy reports higher quarterly profit

Updated: 2013-08-08T22:36:00Z

Great Plains Energy on Thursday reported a boost in second quarter earnings to $63.2 million compared to $57.7 million for the same period last year.

Earnings were boosted by an increase in rates and a decline in interest expense, but warmer weather in the period prevented a better financial performance.

Retail electric sales were down 6.2 percent in the second quarter compared to the same period in 2012. An unplanned outage at the Wolf Creek nuclear plant near Burlington, Kan., cost the company $4 million.

Great Plains, which is the parent of Kansas City Power & Light, said tight cost management also helped and it is becoming more optimistic about the economy.

“We continue to see signs of improvement and believe the economy in our service territory is strengthening,” Terry Bassham, the company’s chief executive, said in a statement.

The Star

Deal Saver Subscribe today!

Comments

The Kansas City Star is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Kansas City Star uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here