This report does not constitute a rating action. The Kansas Corporation Commission’s (KCC) approved large load power service (LLPS) tariff could support credit quality. In Nov. 2025, the KCC approved a large load power service (LLPS) tariff for Evergy Kansas Central (EKC). The tariff requires long-term contracts, minimum demand charges, collateral requirements, exit fees, and cost-recovery mechanisms designed to ensure data center and other large-load customers bear their share of system costs, limiting cost-shifting to existing customers. In S&P Global Ratings'view, the new framework is credit supportive because it provides the utility with greater revenue certainly and limits cost-shifting by allocating more large load-related costs to those customers. We continue to monitor how EKC will leverage these frameworks to
