Great Plains Energy on Thursday posted lower first-quarter revenue and profit as warmer winter weather led to a 4.3 percent decline in electricity sales.
The parent company of Kansas City Power & Light reported operating revenue of $549.1 million in the three months that ended March 31, down from $585.1 million in the first quarter of 2014.
Net income fell to $18.9 million in the quarter, compared with net income of $23.8 million in the same quarter last year.
“Our financial results were in line with expectations with winter weather much closer to normal compared to last year,” Terry Bassham, the utility’s chairman and chief executive officer, said in the earnings statement.
The financial results come as Kansas City Power & Light seeks higher rates in Missouri and Kansas.
In Missouri, the utility is seeking a revenue increase of $120.9 million. The staff of the Missouri Public Service Commission recently recommended an increase of $82.4 million to $91.3 million. Hearings are scheduled to begin in June.
On the Kansas side, the company requested a $67.3 million revenue boost. The staff of the Kansas Corporation Commission is expected to respond by Monday, and hearings are scheduled for June, the company said.