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. This is the abbreviated rate case procedure that was authorized in the KCC order in Empire’s 2010 rate case. The Company is seeking an overall annual increase in its Kansas operating revenue of approximately $1.5 million, or about 6.39 percent. If approved, a Kansas residential customer using 1,000 kilowatt hours of electricity would experience a monthly increase of approximately $7.00.
In making the announcement, Brad Beecher, president and CEO, stated, “We are seeking new Kansas rates to finish the recovery of costs associated with new generating units, Iatan 2 and Plum Point, plus the annual operating costs associated with these new units. These additions allow Empire to continue to provide reliable service to our customers with a least-cost, balanced mix of resources.”
After today’s filing with the KCC, 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 Kansas 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.