Although Kansas regulators provide Kansas City Power&Light Co. (KCP&L) with a variety of mechanisms to recover invested costs, at times the authority can be restrictive from a credit standpoint. In KCP&L's late December 2018 rate case, the regulators approved a 9.3% return on equity (ROE), below prevailing industry averages, and as part of the merger of Great Plains Energy Inc. and Westar Energy Inc. (Westar), the Kansas Corp. Commission (KCC) ordered a rate-case moratorium for up to five years. As per the approved merger, the Kansas and Missouri commissions stipulated one-time bill credits through 2022 of about $35 million to retail electric customers in both Kansas and Missouri. However, we expect a diminishing impact as the credits are
