State regulators on Wednesday approved a rate increase that will affect 600,000 customers in Missouri.
Great Plains Energy, the parent company to Kansas City Power & Light, was granted $64 million of the $106 million requested. The increases varied among the utility’s three service areas.
About half of the customers in the KCP&L territory will see a 9.1 percent increase, so the average residential customer will see a monthly increase averaging $8.90. Customers in the Great Plains territory will see a 5.2 percent increase; an average monthly increase of $5.70. The residential customers in the former St. Joseph Light & Power service area will see an average increase of 12.9 percent which equals to about $12.91 each month.
The rates will, in part, pay for an energy plan that includes the coal-fired Iatan 2 plant near Weston, and wind energy projects. The increases will go into effect later this month.
KCP&L’s prices are up about 50 percent since 2005 in Missouri and Kansas. The utility recently got approval for a 6.7 percent increase in Kansas.
Read more from the Kansas City Star.