Great Plains Energy has complied with the Missouri Public Service Commission’s order that it seek commission approval on its proposed acquisition of Westar Energy.
Great Plains, the parent of Kansas City Power and Light, relented on filing the $12.2 billion sale with the regulators in response to the commission’s Feb. 22 ruling on a complaint by the Midwest Energy Consumers Group.
The group cited KCP&L’s 2001 application to reorganize into a holding company (EM-2001-464). The restructuring — which created Great Plains as parent and KCP&L its subsidiary — contained an agreement that Great Plains would not attempt to merge with or acquire a public utility without first seeking commission approval.
The PSC had ordered Great Plains to file by March 4. Great Plains is asking that the commission render a decision before April 24 to keep the expected spring transaction closing date on schedule.
The commission said last year that it should have jurisdiction over the sale, but Great Plains said that the deal didn’t require its approval because Westar is a Kansas company. (See Great Plains Energy, Westar Shareholders OK $12.2B Deal.)
Great Plains had argued that allowing the PSC in on the decision would “improperly expand the commission’s jurisdiction to include the acquisition of non-Missouri regulated utilities by Missouri-based holding companies.”
— Amanda Durish Cook