Kansas City Power & Light is appealing a September ruling by Kansas regulators reducing the percentage of annual profit the utility is allowed to return to its stockholders.
KCP&L filed a rate request seeking to boost annual revenues by $67 million in Kansas, or $11.67 a month for average residential customers. The request proposed increasing allowed annual profit to 10.3 percent, up from 9.5 percent.
In September the Kansas Corporation Commission approved an increase of $40.1 million, roughly $27 million less than KCP&L was seeking. The ruling also lowered the amount of allowed profit to 9.3 percent.
KCP&L asked the Kansas Court of Appeals on Monday to either increase the allowable profit to closer to 10.3 percent or set aside KCC’s ruling and send it back for further deliberations.