Westar Energy Requests Predetermination of Peaking Capacity

TOPEKA, Kan., Dec. 19 /PRNewswire-FirstCall/ -- Westar Energy, Inc. today filed with the Kansas Corporation Commission (KCC) a request for predetermination of the ratemaking principles and treatment that will apply to the recovery of costs that the company expects to incur in construction of Emporia Energy Center.

The company plans an investment of up to $318 million in the near future at Emporia Energy Center to meet its customers' growing energy needs. Westar believes a predetermination by the KCC that provides certainty concerning recovery of these costs should significantly improve Westar's ability to attract capital.

"Emporia Energy Center is an important early step in Westar Energy's plan to maintain reliable, affordable electric energy to our retail customers in Kansas," Jim Haines, chief executive officer, said. "Assurance that our regulators understand and support these growing needs can help us gain financing on favorable terms, which in turn benefits our customers."

The company's filing requests that the KCC determine: 1. that the peaking capacity Emporia Energy Center is expected to add, up to approximately 600 megawatts, is needed and will be considered used and useful at the time of commercial operation of each phase of the facility; 2. that the plant cost, currently estimated at up to $318 million, will be included in rate base, and any amount in excess of the estimate will be subject to a prudence review; and 3. that the initial depreciable life of the Emporia Energy Center used for ratemaking purposes will be approximately 30 years.

In the filing, the company also indicated that it expects to file rate change applications in both 2008 and 2009 to recover the costs associated with its investment in Emporia Energy Center.

Westar Energy, Inc. is the largest electric utility in Kansas, providing electric service to about 667,000 customers in the state. Westar Energy has nearly 6,100 megawatts of electric generation capacity and operates and coordinates approximately 33,000 miles of electric distribution and transmission lines.

For more information about Westar Energy, visit us on the Internet at http://www.westarenergy.com/ .

Forward-looking statements: Certain matters discussed in this news release are "forward-looking statements." The Private Securities Litigation Reform Act of 1995 has established that these statements qualify for safe harbors from liability. Forward-looking statements may include words like "believe," "anticipate," "target," "expect," "pro forma," "estimate," "intend," "guidance" or words of similar meaning. Forward-looking statements describe future plans, objectives, expectations or goals. Although Westar Energy believes that its expectations are based on reasonable assumptions, all forward-looking statements involve risk and uncertainty. Therefore, actual results could vary materially from what we expect. Please review our Quarterly Report on Form 10-Q for the period ended September 30, 2006 for important risk factors that could cause results to differ materially from those in any such forward-looking statements. Any forward-looking statement speaks only as of the date such statement was made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement was made except as required by applicable laws or regulations.

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