We expect Kansas Gas&Electric Co. (KG&E) to maintain stable margins over the coming years given minimal but stable revenue growth. Although Kansas regulators provide KG&E with a variety of mechanisms to recover invested costs, at times the authority can be restrictive from a credit standpoint. In KG&E's late September 2018 electric rate case, 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. KG&E's financial measures are expected to sit comfortably in the middle of the intermediate financial risk profile category through 2020, providing the
