Published: June 30, 2011
The Empire District Electric Company Files for New Oklahoma Electric Rates
JOPLIN, Mo. - (BUSINESS WIRE) - The Empire District Electric Company (NYSE:EDE) announced today that it
has filed a request with the Oklahoma Corporation Commission for changes
in rates for its Oklahoma electric customers. The Company is seeking an
overall annual increase in its Oklahoma operating revenue of
approximately $633,000, or about 4.1 percent. If approved, a residential
customer using 1,000 kilowatt hours of electricity would experience a
monthly increase of approximately $6.40.
In making the announcement, Brad Beecher, president and CEO, stated, "We
are seeking to make rates established by the Capital Reliability Rider
permanent. This two-phase rider was implemented over the past ten
months. It was designed to recover expenditures since Empire's last rate
case in 2003, including construction costs for Riverton Unit 12, Iatan
2, Plum Point Generating Station as well as the environmental upgrades
at the Asbury Power Plant and Iatan 1. The upgrades to our facilities
and the addition of new generation allow us to continue to provide safe,
reliable electricity to our customers through a balanced mix of
resources."
With this case, Empire is requesting a modification in the Fuel
Adjustment Rider. Fuel and purchase power costs would no longer be
recovered as part of a customer's base rates, but instead 100 percent of
these costs would be recovered as a separate line item on their bill.
After today's filing with the Commission, an audit of Empire's
operations will be conducted and hearings will be held. The Company
anticipates that any new rates approved would not become effective for
its Oklahoma customers until late 2011 or early 2012.
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
Emily Stanley, 417-625-5180
Communications
Coordinator
estanley@empiredistrict.com
or
INVESTOR
RELATIONS
Jan Watson, 417-625-5108
Secretary - Treasurer
jwatson@empiredistrict.com
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