Evergy needs to increase its supporting documentation into certain aspects of its Sustainability Transformation Plan.
The Kansas Corporation Commission wants Evergy to explain increased spending in its five-year projections as well as the impact on rates as filed early this year. Evergy also needs to file reports on key performance indicators so the Corporation Commission can see whether the utility is successfully filling out the STP.
KCC board member Susan Duffy criticized the role of Elliott Management, an activist investor in Evergy, as part of the STP process.
KCC opened an investigation after Evergy developed an agreement with Elliott Management to increase shareholder values. Evergy says it’s reviewing the KCC statement.
There are other concerns from the KCC’s standpoint, including how STP-associated costs affect Evergy’s rates and the amount of transparency currently in Evergy’s forecasts related to future spending increases.
KCC General Counsel Brian Fedotin says there was input from numerous sources, including the Citizens Utility Ratepayer Board, Sierra Club, Climate Energy Project, Kansas Industrial Consumers Group and AARP.
