Cooler weather hurts profits of Great Plains Energy

11/07/2013 5:25 PM

11/07/2013 5:25 PM

Great Plains Energy on Thursday reported a decline in third quarter earnings due largely to warmer weather that curbed the use of air conditioning.

The company, which is the parent of KCP, said earning for the quarter ending Sept. 30 were $142.7 million or 93 cents per share. That was down from $145.8 million or 95 cents per share for the same period last year.

The company said its financial results were helped by a rise in utility rates but that was offset by temperatures that were below the warmer-than-normal weather in the summer of 2012.

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