Wednesday, April 19, 2017

POWER PLAY DENIED: KCP&L AND WESTAR $12.2 BILLION MERGER SHUT DOWN!!!

A brief win for constantly increasing local rates . . . The commission voted on Wednesday that a proposed merger of Kansas City Power & Light and Westar Energy was not in the public’s best interest. Read more:

KCC denies Great Plains' $12.2B Westar merger - Kansas City Business Journal

The attempt to merge Kansas City-based Great Plains Energy Inc. (NYSE: GXP) and Topeka-based Westar Energy Inc. (NYSE: WR) suffered a huge setback Wednesday, with the Kansas Corporation Commission unanimously denying the application [PDF]. First announced in May, both companies' shareholders overwhelmingly approved the deal in September.

2 Comments:

Crazy Clown said...

GOOD - Enough of these Corporate Monopoly's that do nothing but Rip-Off and Fleece the Rate Payers / Tax Payers !!!

Anonymous said...

they're big rnough that, with computers and automation, they should be about as efficient as possible.

therefore, there is no reason to further concentration and monopoly power, imho.