We remain focused on executing our 2013 target to reduce regulatory lag of 50 basis points of allowed ROE. Last month, we filed a general rate case in Kansas with a requested increase in rates of approximately $64 million. We recognized these are difficult economic times and asking for a rate increase is not something we take lightly. We are seeking recovery to maintain a reliable electric system and make renewable energy and environmental investments needed to meet future state and federal renewable energy and emission control mandates. Terry will provide more details around the rate case filings in his comments.Last month was an active month for us as we also announced the formation of Transource Energy, a joint venture with American Electric Power. Transource will pursue competitive transmission projects that fall within the scope of FERC Order 1000. The order facilitates competition, and will foster a national perspective of the market. The initial focus of Transource, of which we own 13.5% share, will be on new projects in the Southwest Power Pool, Midwest Independent Transmission System Operator and PJM Interconnection, with expansion to other regional transmission organizations, or RTOs, as markets mature.
Great Plains Energy Incorporated's CEO Discusses Q1 2012 Results - Earnings Call Transcript
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