Published:
The Empire District Electric Company Files for New Kansas Electric Rates
JOPLIN, Mo. - (BUSINESS WIRE) - The Empire District Electric Company (NYSE:EDE) announced today that it
has filed a request with the Kansas Corporation Commission (KCC) for
changes in rates for its Kansas electric customers. The Company is
seeking an annual increase in revenues of approximately $5.2 million or
about 24.6 percent. If approved, a residential customer using 1,000
kilowatt hours of electricity would experience a monthly increase of
approximately $25.08.
In making the announcement, Bill Gipson, president and CEO, stated, "We
are seeking new rates primarily to begin recovery of the investment we
have made or are making to our electric system, specifically
environmental upgrades at Iatan 1 and the Asbury Power Plant and, for
the new generating units, Riverton Unit 12, Iatan 2, and the Plum Point
Generating Station, plus the annual operating costs associated with
these units. These additions will allow Empire to continue to provide
reliable service to our customers with a balanced mix of resources."
After today's filing with the KCC, an extensive audit of Empire's
operations, a public hearing, and an evidentiary hearing will be held.
The Company anticipates that any new rates approved would not become
effective until the summer of 2010.
Based in Joplin, Missouri, The Empire District Electric Company (NYSE:
EDE) is an investor-owned, regulated utility providing electricity,
natural gas (through its wholly owned subsidiary The Empire District Gas
Company), and water service, with approximately 215,000 customers in
Missouri, Kansas, Oklahoma, and Arkansas. A subsidiary of the company
provides fiber optic services. For more information regarding Empire,
visit www.empiredistrict.com.
Certain matters discussed in this press release are "forward-looking
statements" intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of 1995. Such
statements address future plans, objectives, expectations, and events or
conditions concerning various matters. Actual results in each
case could differ materially from those currently anticipated in such
statements, by reason of the factors noted in our filings with the SEC,
including the most recent Form 10-K and Form 10-Q.
The Empire District Electric Company
Media
Communications
Amy Bass, 417-625-5114
Director,
Corporate Communications
abass@empiredistrict.com
or
Investor
Relations
Jan Watson, 417-625-5108
Secretary - Treasurer
jwatson@empiredistrict.com
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