Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - WESTAR ENERGY INC /KS | d8k.htm |
| EX-10.1 - AMENDMENT TO WILLIAM B. MOORE AWARD DOCUMENTS - WESTAR ENERGY INC /KS | dex101.htm |
 Recent Event Update
July 6, 2011
July 6 Recent Event Update
Exhibit 99.1 |
 2
Forward Looking Disclosures
Forward-looking
statements:
Certain
matters
discussed
in
this
presentation
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
“believe,”
“anticipate,”
“target,”
“expect,”
“pro
forma,”
“estimate,”
“intend,”
“guidance”
or
words
of
similar
meaning.
Forward-looking
statements
describe
future
plans,
objectives,
expectations
or
goals.
Although
we
believe
expectations
are
based
on
reasonable
assumptions,
all
forward-looking
statements
involve
risk
and
uncertainty.
The
factors
that
could
cause
actual
results
to
differ
materially
from
these
forward-looking
statements
include
those
discussed
herein
as
well
as
(1)
those
discussed
in
the
company’s
Annual
Report
on
Form
10-K
for
the
year
ended
Dec.
31,
2010
(a)
under
the
heading,
“Forward-Looking
Statements,”
(b)
in
ITEM
1.
Business,
(c)
in
ITEM
1A.
Risk
Factors,
(d)
in
ITEM
7.
Management’s
Discussion
and
Analysis
of
Financial
Condition
and
Results
of
Operations,
and
(e)
in
ITEM
8.
Financial
Statements
and
Supplementary
Data:
Notes
13
and
15;
and
(2)
those
discussed
in
the
company’s
Quarterly
Report
on
Form
10-
Q
filed
May
5,
2011
(a)
in
ITEM
7.
Management’s
Discussion
and
Analysis
of
Financial
Condition
and
Results
of
Operations
and
(b)
in
Part
I,
Financial
Information,
ITEM
1.
Financial
Statements:
Notes
8
and
9;
and
(3)
other
factors
discussed
in
the
company’s
filings
with
the
Securities
and
Exchange
Commission.
Any
forward-looking
statement
speaks
only
as
of
the
date
such
statement
was
made,
and
the
company
does
not
undertake
any
obligation
to
update
any
forward-looking
statement
to
reflect
events
or
circumstances
after
the
date
on
which
such
statement
was
made.
July 6 Recent Event Update |
 3
•
KCC approved route for Prairie Wind Transmission line
•
Staff recommends in favor of La Cygne environmental retrofit
•
General rate case filing now planned for August
•
Mark Ruelle selected to succeed Bill Moore as CEO
Recent Events
July 6 Recent Event Update |
 4
KCC Approved Route for
Prairie Wind Transmission Line Within 120 Days
•
Prairie Wind Transmission
•
50/50 JV with ETA
•
Approximately 110 miles
•
Project cost
$225 million
•
KCC approved line route June 2011
•
Plan to begin construction mid 2012
•
Estimated completion 2014
July 6 Recent Event Update |
 5
•
GXP, as station operator, filed with KCC a predetermination request, and
Westar intervened in support, seeking:
–
Prudency of constructing and installing air quality control equipment
•
Wet scrubbers, fabric filters and common chimney for both units
•
SCR and low NOx system for Unit 2
–
Confirmation the $1.2 billion total project estimate (excluding AFUDC and
property taxes) is reasonable and prudent
•
Westar’s
50%
share
of
project
-
$615
million
•
KCC Staff (Staff) recommends in favor of the La Cygne retrofit as the
least cost alternative
•
Staff concurs there should be no adjustment to the allowed ROE tied to
the use of predetermination
•
No recommendation by Staff on Westar’s
use of ECRR for La Cygne
project
•
Key future dates in the docket (11-KCPE-581-PRE):
–
Evidentiary hearings July 11 through 15
–
Order due August 22
Predetermination Request for
La Cygne Environmental Project
July 6 Recent Event Update |
 6
•
May 31, 2011 submitted to KCC a notice of intent to file a rate case
–
Requires a filing to made within a 30 to 90 day window
•
Expect to file rate case mid to late August
•
Historical test year 12 months ended March 2011
–
Test year to include adjustments for known and measurable items
•
Decision due 240 days from filing
Planned 2011 General Rate Case
July 6 Recent Event Update |
 7
•
Bill Moore, CEO since 2007 to retire July 31
•
Mark Ruelle, CFO since 2003, to succeed Moore
–
25 years utility experience
–
13 years CFO experience (two different companies)
–
Background
•
Finance
•
Strategy
•
IT
•
HR
•
Operations
•
Regulatory
CEO Succession
July 6 Recent Event Update |