Regulators asked to reconsider rejection of utility sale
TOPEKA, Kan. (AP) — Kansas regulators are being asked to reconsider their rejection of the proposed sale of the state's largest electric company to a Missouri firm.
Kansas City, Missouri-based Great Plains Energy Inc. and Topeka-based Westar Energy Inc. announced Thursday that they made the request in a petition filed with the Kansas Corporation Commission
Regulators said last month in rejecting the proposed sale that the $12.2 billion price was too high and would leave the combined utility financially weaker than the separate companies. Great Plains and Westar argued the deal would create nearly $2 billion in operating efficiencies over the next decade to keep electric rates in check.
The utilities are asking to have until the end of May to determine whether a revised transaction can be negotiated that resolves the commission's concerns.