The Kansas Corporation Commission decided this week not to a petition for reconsideration of its rejection of a merger between Great Plains Energy and Westar Energy.
It was April 19 when the KCC denied approval of Kansas City-based Great Plains Energy’s acquisition of Westar Energy, the largest electrical utility in the state.
The two firms continue working on exploring a possible revised transaction that would meet approval of the Commission.
“It is important for all parties to the case to have adequate time and ability in which to review any revised proposal,” said Terry Bassham, Great Plains Energy chairman and chief executive officer. “If we move forward, any revised transaction would have to be materially better than our standalone plan for both shareholders and customers, and it would have to have a high likelihood of success.”
Since filing the petition, the companies have had discussions with KCC staff and CURB, and agree that if a new agreement can be forged between the companies, a new application with the KCC would be the appropriate procedure to follow.