Great Plains, Aquila push for hearings in Missouri to move merger forward

By Lisa Kerner

Charlotte, N.C., Feb. 21 - Great Plains Energy Inc. and Aquila, Inc., along with the Kansas City Power & Light Co. (KCP&L), filed a required summary of settlement discussion progress with the Missouri Public Service Commission in connection with the companies' proposed merger.

The filing proposes that hearings in the matter resume on April 21 due to contractual deadlines in the merger agreement, according to a Great Plains news release.

Hearings with the Missouri regulatory agency began in December but were recessed at the request of Great Plains and Aquila. The recess would allow the companies to address concerns raised during the hearings.

While confidential settlement discussions have occurred, no comprehensive agreement has been reached.

Great Plains and KCL&L witnesses are expected to file supplemental direct testimony on Feb. 25 that discusses the withdrawal of certain requests for regulatory treatment.

Settlement discussions continue in the pending Kansas Corporation Commission proceedings regarding the Great Plains and Aquila transaction, with hearings set to begin Feb. 25 if no settlement is reached.

Great Plains agreed to acquire Aquila and its Missouri utility operating divisions, Missouri Public Service Co. and St. Joseph Light & Power.

Black Hills Corp. will acquire Aquila's Colorado electric utility assets and Colorado, Iowa, Kansas and Nebraska gas utility assets.

The Great Plains and Black Hills transactions are contingent on one another.

Black Hills and Aquila have obtained state regulatory approvals in Colorado, Iowa and Nebraska, with approvals still needed in Kansas and Missouri.

It was previously reported that Great Plains, Black Hills and Aquila mutually extended the termination dates for their acquisition and asset sale transactions to May 1 from Feb. 6.

Black Hills is a diversified energy company based in Rapid City, S.D.

Based in Kansas City, Mo., Aquila owns electric power generation assets and operates electric and natural gas transmission and distribution networks.

Great Plains is a Kansas City, Mo., holding company for Kansas City Power & Light and Strategic Energy, LLC.

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