UNITED
STATES
 SECURITIES
AND EXCHANGE COMMISSION
 Washington,
D.C. 20549
 
 FORM
10-Q
  [X]
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
 EXCHANGE
ACT OF 1934
 
 For the
quarterly period ended June 30,
2009
 
 or
 
 [  ]
TRANSITION REPORT PURSUANT SECTION 13 OR 15(d) OF THE SECURITIES
 EXCHANGE
ACT OF 1934
 
 For the
transition period from _______ to _______
 
 Exact
      name of registrant as specified in its charter,Commission
                
                state
      of incorporation, address of principal
                
                I.R.S.
      EmployerFile
      Number
                
                executive
      offices and telephone number
                
                Identification
      Number001-32206
                
                GREAT
      PLAINS ENERGY INCORPORATED
                
                43-1916803(A
      Missouri Corporation)1201
      Walnut StreetKansas
      City, Missouri 64106(816)
      556-2200www.greatplainsenergy.com000-51873
                
                KANSAS
      CITY POWER & LIGHT COMPANY
                
                44-0308720(A
      Missouri Corporation)1201
      Walnut StreetKansas
      City, Missouri 64106(816)
      556-2200www.kcpl.com
 
 Indicate
      by check mark whether the registrant (1) has filed all reports required to
      be filed by Section 13 or 15(d) of the Securities
  ExchangeAct
      of 1934 during the preceding 12 months (or for such shorter period that
      the registrant was required to file such reports), and (2) has
      beensubject
      to such filing requirements for the past 90 days.Great
      Plains Energy Incorporated
                            Yes
                            X
                            No
                            _
                            
                            Kansas
      City Power & Light Company
                            Yes
                            X
                            No
                            _Indicate
      by check mark whether the registrant has submitted electronically and
      posted on its corporate Web site, if any, every
  InteractiveData
      File required to be submitted and posted pursuant to Rule 405 of
      Regulation S-T (§232.405 of this chapter) during the preceding
      12months
      (or for such shorter period that the registrant was required to submit and
      post such files).Great
      Plains Energy Incorporated
                            Yes
                            _
                            No
                            _
                            
                            Kansas
      City Power & Light Company
                            Yes     _
                            No
                            _Indicate
      by check mark whether the registrant is a large accelerated filer, an
      accelerated filer, a non-accelerated filer, or a smaller
      reportingcompany.  See
      definitions of “large accelerated filer,” “accelerated filer” and “smaller
      reporting company” in Rule 12b-2 of the Exchange Act.Great
      Plains Energy Incorporated
                            Large
      accelerated filer
                            X
                            Accelerated
      filer
                            _Non-accelerated
      filer
                            _
                            Smaller
      reporting company
                            _Kansas
      City Power & Light Company
                            Large
      accelerated filer
                            _
                            Accelerated
      filer
                            _Non-accelerated
      filer
                            X
                            Smaller
      reporting company
                            _Indicate
      by check mark whether the registrant is a shell company (as defined in
      Rule 12b-2 of the Exchange Act).Great
      Plains Energy Incorporated
                            Yes
                            _
                            No
                            X
                            
                            Kansas
      City Power & Light Company
                            Yes
                            _
                            No
                            XOn
      August 3, 2009, Great Plains Energy Incorporated had 135,188,265 shares of
      common stock outstanding.  On August 3, 2009,Kansas
      City Power & Light Company had one share of common stock outstanding,
      which was held by Great Plains Energy Incorporated.Kansas
      City Power & Light Company meets the conditions set forth in General
      Instruction (H)(1)(a) and (b) of Form 10-Q and istherefore
      filing this Form 10-Q with the reduced disclosure
  format.
 This
combined Quarterly Report on Form 10-Q is being filed by Great Plains Energy
Incorporated (Great Plains Energy) and Kansas City Power & Light Company
(KCP&L).  KCP&L is a wholly owned subsidiary of Great Plains
Energy and represents a significant portion of its assets, liabilities,
revenues, expenses and operations.  Thus, all information contained in
this report relates to, and is filed by, Great Plains
Energy.  Information that is specifically identified in this report as
relating solely to Great Plains Energy, such as its financial statements and all
information relating to Great Plains Energy’s other operations, businesses and
subsidiaries, including KCP&L Greater Missouri Operations Company (GMO),
does not relate to, and is not filed by, KCP&L.  KCP&L makes
no representation as to that information.  Neither Great Plains Energy
nor its other subsidiaries have any obligation in respect of KCP&L’s debt
securities and holders of such securities should not consider Great Plains
Energy’s or its other subsidiaries’ financial resources or results of operations
in making a decision with respect to KCP&L’s debt
securities.  Similarly, KCP&L has no obligation in respect of
securities of Great Plains Energy or its other subsidiaries.
  This
report should be read in its entirety.  No one section of the report
deals with all aspects of the subject matter.  It should be read in
conjunction with the consolidated financial statements and related notes and
with the management’s discussion and analysis included in the 2008 Form 10-K for
each of Great Plains Energy and KCP&L.
  CAUTIONARY
STATEMENTS REGARDING CERTAIN FORWARD-LOOKING INFORMATION
 Statements
made in this report that are not based on historical facts are forward-looking,
may involve risks and uncertainties, and are intended to be as of the date when
made.  Forward-looking statements include, but are not limited to, the
outcome of regulatory proceedings, cost estimates of the Comprehensive Energy
Plan and other matters affecting future operations.  In connection
with the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995, the registrants are providing a number of important factors that could
cause actual results to differ materially from the provided forward-looking
information.  These important factors include: future economic
conditions in regional, national and international markets and their effects on
sales, prices and costs, including but not limited to possible further
deterioration in economic conditions and the timing and extent of any economic
recovery; prices and availability of electricity in regional and national
wholesale markets; market perception of the energy industry, Great Plains
Energy, KCP&L and GMO; changes in business strategy, operations or
development plans; effects of current or proposed state and federal legislative
and regulatory actions or developments, including, but not limited to,
deregulation, re-regulation and restructuring of the electric utility industry;
decisions of regulators regarding rates KCP&L and GMO can charge for
electricity; adverse changes in applicable laws, regulations, rules, principles
or practices governing tax, accounting and environmental matters including, but
not limited to, air and water quality; financial market conditions and
performance including, but not limited to, changes in interest rates and credit
spreads and in availability and cost of capital and the effects on nuclear
decommissioning trust and pension plan assets and costs; credit ratings;
inflation rates; effectiveness of risk management policies and procedures and
the ability of counterparties to satisfy their contractual commitments; impact
of terrorist acts; increased competition including, but not limited to, retail
choice in the electric utility industry and the entry of new competitors;
ability to carry out marketing and sales plans; weather conditions including,
but not limited to, weather-related damage and their effects on sales, prices
and costs; cost, availability, quality and deliverability of fuel; ability to
achieve generation planning goals and the occurrence and duration of planned and
unplanned generation outages; delays in the anticipated in-service dates and
cost increases of additional generating capacity and environmental projects;
nuclear operations; workforce risks, including, but not limited to, retirement
compensation and benefits costs; the ability to successfully integrate KCP&L
and GMO operations and the timing and amount of resulting synergy savings; and
other risks and uncertainties.
  This
list of factors is not all-inclusive because it is not possible to predict all
factors.  Part II Item 1A Risk Factors included in this report,
together with the risk factors included in the 2008 Form 10-K for each of Great
Plains Energy and KCP&L under Part I Item 1A, should be carefully read for
further understanding of potential risks for each of Great Plains Energy and
KCP&L.  Other sections of this report and other periodic reports
filed by each of Great Plains Energy and KCP&L with the Securities and
Exchange Commission (SEC) should also be read for more information regarding
risk factors.  Great Plains Energy and KCP&L undertake no
obligation to publicly update or revise any forward-looking statement, whether
as a result of new information, future events or otherwise.
 2
 GLOSSARY
OF TERMS
  The
following is a glossary of frequently used abbreviations or acronyms that are
found throughout this report.
 
 Abbreviation or Acronym
                              
                              DefinitionAFUDC
                              
                              Allowance
      for Funds Used During ConstructionARO
                              
                              Asset
      Retirement ObligationBART
                              
                              Best
      available retrofit technologyBlack
      Hills
                              
                              Black
      Hills CorporationBoard
                              
                              Great
      Plains Energy Board of DirectorsCAIR
                              
                              Clean
      Air Interstate RuleCAMR
                              
                              Clean
      Air Mercury RuleClean
      Air Act
                              
                              Clean
      Air Act Amendments of 1990CO2
                              
                              Carbon
      DioxideCollaboration
      Agreement
                              
                              Agreement
      among KCP&L, the Sierra Club and the Concerned
                                Citizens
      of Platte CountyCompany
                              
                              Great
      Plains Energy Incorporated and its subsidiariesDOE
                              
                              Department
      of EnergyECA
                              
                              Energy
      Cost AdjustmentEIRR
                              
                              Environmental
      Improvement Revenue RefundingEPA
                              
                              Environmental
      Protection AgencyEPS
                              
                              Earnings
      per common shareERISA
                              
                              Employee
      Retirement Income Security Act of 1974, as amendedFAC
                              
                              Fuel
      Adjustment ClauseFASB
                              
                              Financial
      Accounting Standards BoardFERC
                              
                              The
      Federal Energy Regulatory CommissionFGIC
                              
                              Financial
      Guaranty Insurance CompanyFIN
                              
                              Financial
      Accounting Standards Board InterpretationFSP
                              
                              Financial
      Accounting Standards Board Staff PositionFSS
                              
                              Forward
      Starting SwapsGAAP
                              
                              Generally
      Accepted Accounting PrinciplesGMO
                              
                              KCP&L
      Greater Missouri Operations Company, a wholly owned subsidiary of
                                Great
      Plains Energy as of July 14, 2008Great
      Plains Energy
                              
                              Great
      Plains Energy Incorporated and its subsidiariesHSS
                              
                              Home
      Service Solutions Inc., a wholly owned subsidiary of KLT
    Inc.ISO
                              
                              Independent
      System OperatorKCC
                              
                              The
      State Corporation Commission of the State of KansasKCP&L
                              
                              Kansas
      City Power & Light Company, a wholly owned subsidiary
                                of
      Great Plains EnergyKDHE
                              
                              Kansas
      Department of Health and EnvironmentKLT
      Inc.
                              
                              KLT
      Inc., a wholly owned subsidiary of Great Plains EnergyKW
                              
                              KilowattkWh
                              
                              Kilowatt
      hourMAC
                              
                              Material
      Adverse ChangeMDNR
                              
                              Missouri
      Department of Natural ResourcesMGP
                              
                              Manufactured
      gas
plant
 3
 Abbreviation or Acronym
                      
                      DefinitionMISO
                      
                      Midwest
      Independent Transmission System Operator, Inc.MPS
      Merchant
                      
                      MPS
      Merchant Services, Inc., a wholly owned subsidiary of
  GMOMPSC
                      
                      Public
      Service Commission of the State of MissouriMW
                      
                      MegawattMWh
                      
                      Megawatt
      hourNERC
                      
                      North
      American Electric Reliability CorporationNOx
                      
                      Nitrogen
      OxideNPNS
                      
                      Normal
      Purchases and Normal SalesNRC
                      
                      Nuclear
      Regulatory CommissionOCI
                      
                      Other
      Comprehensive IncomePCB
                      
                      Polychlorinated
      biphenylsPRB
                      
                      Powder
      River BasinQCA
                      
                      Quarterly
      Cost AdjustmentReceivables
      Company
                      
                      Kansas
      City Power & Light Receivables Company, a wholly owned
                        subsidiary
      of KCP&LRTO
                      
                      Regional
      Transmission OrganizationSEC
                      
                      Securities
      and Exchange CommissionServices
                      
                      Great
      Plains Energy Services Incorporated, a wholly owned subsidiary
      of
                        Great
      Plain EnergySFAS
                      
                      Statement
      of Financial Accounting StandardsSIP
                      
                      State
      Implementation PlanSO2
                      
                      Sulfur
      DioxideSPP
                      
                      Southwest
      Power Pool, Inc.STB
                      
                      Surface
      Transportation BoardStrategic
      Energy
                      
                      Strategic
      Energy, L.L.C., a former subsidiary of KLT Energy
  ServicesSyncora
                      
                      Syncora
      Guarantee Inc.T
      - Lock
                      
                      Treasury
      LockUnion
      Pacific
                      
                      Union
      Pacific Railroad CompanyWCNOC
                      
                      Wolf
      Creek Nuclear Operating CorporationWestar
                      
                      Westar
      Energy, Inc., a Kansas utility companyWolf
      Creek
                      
                      Wolf
      Creek Generating
Station
 4


PART I - FINANCIAL INFORMATION


ITEM 1. CONSOLIDATED FINANCIAL
STATEMENTS





GREAT
      PLAINS ENERGYConsolidated
      Balance Sheets(Unaudited)June
      30
                                                                            December
      312009
                                                                            2008ASSETS
                                                                            (millions,
      except share amounts)Current
      AssetsCash
      and cash equivalents
                                                                            $
                                                                            14.0
                                                                            
                                                                            $
                                                                            61.1Funds
      on deposit
                                                                            
                                                                            5.0
                                                                            
                                                                            
                                                                            10.8Receivables,
      net
                                                                            
                                                                            239.6
                                                                            
                                                                            
                                                                            242.3Fuel
      inventories, at average cost
                                                                            
                                                                            87.8
                                                                            
                                                                            
                                                                            87.0Materials
      and supplies, at average cost
                                                                            
                                                                            110.0
                                                                            
                                                                            
                                                                            99.3Deferred
      refueling outage costs
                                                                            
                                                                            6.9
                                                                            
                                                                            
                                                                            12.4Refundable
      income taxes
                                                                            
                                                                            35.5
                                                                            
                                                                            
                                                                            26.0Deferred
      income taxes
                                                                            
                                                                            24.6
                                                                            
                                                                            
                                                                            28.6Assets
      held for sale (Note 5)
                                                                            
                                                                            16.8
                                                                            
                                                                            
                                                                            16.3Derivative
      instruments
                                                                            
                                                                            1.5
                                                                            
                                                                            
                                                                            4.8Prepaid
      expenses
                                                                            
                                                                            16.3
                                                                            
                                                                            
                                                                            15.2Total
                                                                            
                                                                            558.0
                                                                            
                                                                            
                                                                            603.8Nonutility
      Property and InvestmentsAffordable
      housing limited partnerships
                                                                            
                                                                            13.5
                                                                            
                                                                            
                                                                            13.9Nuclear
      decommissioning trust fund
                                                                            
                                                                            100.2
                                                                            
                                                                            
                                                                            96.9Other
                                                                            
                                                                            38.0
                                                                            
                                                                            
                                                                            41.1Total
                                                                            
                                                                            151.7
                                                                            
                                                                            
                                                                            151.9Utility
      Plant, at Original CostElectric
                                                                            
                                                                            8,669.2
                                                                            
                                                                            
                                                                            7,940.8Less-accumulated
      depreciation
                                                                            
                                                                            3,656.1
                                                                            
                                                                            
                                                                            3,582.5Net
      utility plant in service
                                                                            
                                                                            5,013.1
                                                                            
                                                                            
                                                                            4,358.3Construction
      work in progress
                                                                            
                                                                            1,329.4
                                                                            
                                                                            
                                                                            1,659.1Nuclear
      fuel, net of amortization of $119.4 and $110.8
                                                                            
                                                                            75.2
                                                                            
                                                                            
                                                                            63.9Total
                                                                            
                                                                            6,417.7
                                                                            
                                                                            
                                                                            6,081.3Deferred
      Charges and Other AssetsRegulatory
      assets
                                                                            
                                                                            798.5
                                                                            
                                                                            
                                                                            824.8Goodwill
                                                                            
                                                                            157.8
                                                                            
                                                                            
                                                                            156.0Derivative
      instruments
                                                                            
                                                                            7.2
                                                                            
                                                                            
                                                                            13.0Other
                                                                            
                                                                            41.6
                                                                            
                                                                            
                                                                            38.5Total
                                                                            
                                                                            1,005.1
                                                                            
                                                                            
                                                                            1,032.3Total
                                                                            $
                                                                            8,132.5
                                                                            
                                                                            $
                                                                            7,869.3The
      accompanying Notes to Consolidated Financial Statements are an integral
      part of these
statements.


5


GREAT
      PLAINS ENERGYConsolidated
      Balance Sheets(Unaudited)June
      30
                                                                                December
      312009
                                                                                2008LIABILITIES
      AND CAPITALIZATION
                                                                                (millions,
      except share amounts)Current
      LiabilitiesNotes
      payable
                                                                                $
                                                                                110.0
                                                                                
                                                                                $
                                                                                204.0Commercial
      paper
                                                                                
                                                                                79.8
                                                                                
                                                                                
                                                                                380.2Current
      maturities of long-term debt
                                                                                
                                                                                70.2
                                                                                
                                                                                
                                                                                70.7Accounts
      payable
                                                                                
                                                                                264.3
                                                                                
                                                                                
                                                                                418.0Accrued
      taxes
                                                                                
                                                                                58.7
                                                                                
                                                                                
                                                                                27.7Accrued
      interest
                                                                                
                                                                                74.9
                                                                                
                                                                                
                                                                                72.4Accrued
      compensation and benefits
                                                                                
                                                                                37.6
                                                                                
                                                                                
                                                                                29.7Pension
      and post-retirement liability
                                                                                
                                                                                4.7
                                                                                
                                                                                
                                                                                4.7Derivative
      instruments
                                                                                
                                                                                0.5
                                                                                
                                                                                
                                                                                86.2Other
                                                                                
                                                                                39.4
                                                                                
                                                                                
                                                                                43.8Total
                                                                                
                                                                                740.1
                                                                                
                                                                                
                                                                                1,337.4Deferred
      Credits and Other LiabilitiesDeferred
      income taxes
                                                                                
                                                                                344.1
                                                                                
                                                                                
                                                                                387.1Deferred
      tax credits
                                                                                
                                                                                120.6
                                                                                
                                                                                
                                                                                105.5Asset
      retirement obligations
                                                                                
                                                                                129.2
                                                                                
                                                                                
                                                                                124.3Pension
      and post-retirement liability
                                                                                
                                                                                457.6
                                                                                
                                                                                
                                                                                445.6Regulatory
      liabilities
                                                                                
                                                                                211.8
                                                                                
                                                                                
                                                                                209.4Other
                                                                                
                                                                                121.1
                                                                                
                                                                                
                                                                                112.8Total
                                                                                
                                                                                1,384.4
                                                                                
                                                                                
                                                                                1,384.7CapitalizationGreat
      Plains Energy common shareholders' equityCommon
      stock-250,000,000 shares authorized without par value135,398,057
      and 119,375,923 shares issued, stated value
                                                                                
                                                                                2,307.6
                                                                                
                                                                                
                                                                                2,118.4Retained
      earnings
                                                                                
                                                                                491.3
                                                                                
                                                                                
                                                                                489.3Treasury
      stock-236,409 and 120,677 shares, at cost
                                                                                
                                                                                (6.2
                                                                                )
                                                                                
                                                                                (3.6
                                                                                )Accumulated
      other comprehensive loss
                                                                                
                                                                                (50.9
                                                                                )
                                                                                
                                                                                (53.5
                                                                                )Total
                                                                                
                                                                                2,741.8
                                                                                
                                                                                
                                                                                2,550.6Noncontrolling
      interest
                                                                                
                                                                                1.1
                                                                                
                                                                                
                                                                                1.0Total
      common shareholders' equity
                                                                                
                                                                                2,742.9
                                                                                
                                                                                
                                                                                2,551.6Cumulative
      preferred stock $100 par value3.80%
      - 100,000 shares issued
                                                                                
                                                                                10.0
                                                                                
                                                                                
                                                                                10.04.50%
      - 100,000 shares issued
                                                                                
                                                                                10.0
                                                                                
                                                                                
                                                                                10.04.20%
      - 70,000 shares issued
                                                                                
                                                                                7.0
                                                                                
                                                                                
                                                                                7.04.35%
      - 120,000 shares issued
                                                                                
                                                                                12.0
                                                                                
                                                                                
                                                                                12.0Total
                                                                                
                                                                                39.0
                                                                                
                                                                                
                                                                                39.0Long-term
      debt (Note 11)
                                                                                
                                                                                3,226.1
                                                                                
                                                                                
                                                                                2,556.6Total
                                                                                
                                                                                6,008.0
                                                                                
                                                                                
                                                                                5,147.2Commitments
      and Contingencies (Note 13)Total
                                                                                $
                                                                                8,132.5
                                                                                
                                                                                $
                                                                                7,869.3The
      accompanying Notes to Consolidated Financial Statements are an integral
      part of these
statements.


6
 GREAT
      PLAINS ENERGYConsolidated
      Statements of Income(Unaudited)Three
      Months Ended
                                                                                                                                                                                                        Year
      to DateJune
      30
                                                                                                                                                                                                        June
      302009
                                                                                                                                                                                                        2008
                                                                                                                                                                                                        2009
                                                                                                                                                                                                        2008Operating
      Revenues
                                                                                                                                                                                                        (millions,
      except per share amounts)Electric
      revenues
                                                                                                                                                                                                        $
                                                                                                                                                                                                        480.5
                                                                                                                                                                                                        
                                                                                                                                                                                                        $
                                                                                                                                                                                                        335.0
                                                                                                                                                                                                        
                                                                                                                                                                                                        $
                                                                                                                                                                                                        899.7
                                                                                                                                                                                                        
                                                                                                                                                                                                        $
                                                                                                                                                                                                        632.6Operating
      ExpensesFuel
                                                                                                                                                                                                        
                                                                                                                                                                                                        96.8
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        58.3
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        184.4
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        113.0Purchased
      power
                                                                                                                                                                                                        
                                                                                                                                                                                                        37.6
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        38.2
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        94.8
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        69.0Utility
      operating expenses
                                                                                                                                                                                                        
                                                                                                                                                                                                        108.3
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        78.3
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        217.3
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        152.3Maintenance
                                                                                                                                                                                                        
                                                                                                                                                                                                        36.0
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        28.4
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        73.9
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        58.6Depreciation
      and amortization
                                                                                                                                                                                                        
                                                                                                                                                                                                        73.4
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        50.8
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        142.4
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        101.0General
      taxes
                                                                                                                                                                                                        
                                                                                                                                                                                                        33.7
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        29.1
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        68.4
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        58.8Other
                                                                                                                                                                                                        
                                                                                                                                                                                                        4.4
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        0.3
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        7.3
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        9.2Total
                                                                                                                                                                                                        
                                                                                                                                                                                                        390.2
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        283.4
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        788.5
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        561.9Operating
      income
                                                                                                                                                                                                        
                                                                                                                                                                                                        90.3
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        51.6
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        111.2
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        70.7Non-operating
      income
                                                                                                                                                                                                        
                                                                                                                                                                                                        11.9
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        5.8
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        24.7
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        14.9Non-operating
      expenses
                                                                                                                                                                                                        
                                                                                                                                                                                                        (1.3
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (1.4
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (2.2
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (2.5
                                                                                                                                                                                                        )Interest
      charges
                                                                                                                                                                                                        
                                                                                                                                                                                                        (46.9
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (10.4
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (84.2
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (52.0
                                                                                                                                                                                                        )Income
      from continuing operations before income tax (expense)
    benefitand
      loss from equity investments
                                                                                                                                                                                                        
                                                                                                                                                                                                        54.0
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        45.6
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        49.5
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        31.1Income
      tax (expense) benefit
                                                                                                                                                                                                        
                                                                                                                                                                                                        (17.0
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (32.0
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        9.3
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        (22.5
                                                                                                                                                                                                        )Loss
      from equity investments, net of income taxes
                                                                                                                                                                                                        
                                                                                                                                                                                                        (0.1
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (0.4
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (0.2
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (0.8
                                                                                                                                                                                                        )Income
      from continuing operations
                                                                                                                                                                                                        
                                                                                                                                                                                                        36.9
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        13.2
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        58.6
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        7.8Income
      (loss) from discontinued operations, net of income taxes (Note
      20)
                                                                                                                                                                                                        
                                                                                                                                                                                                        (3.1
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (18.2
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (3.1
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        34.7Net
      income (loss)
                                                                                                                                                                                                        
                                                                                                                                                                                                        33.8
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        (5.0
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        55.5
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        42.5Less:  Net
      income attributable to noncontrolling interest
                                                                                                                                                                                                        
                                                                                                                                                                                                        (0.1
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        -
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        (0.1
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        -Net
      income (loss) attributable to Great Plains Energy
                                                                                                                                                                                                        
                                                                                                                                                                                                        33.7
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        (5.0
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        55.4
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        42.5Preferred
      stock dividend requirements
                                                                                                                                                                                                        
                                                                                                                                                                                                        0.4
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        0.4
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        0.8
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        0.8Earnings
      (loss) available for common shareholders
                                                                                                                                                                                                        $
                                                                                                                                                                                                        33.3
                                                                                                                                                                                                        
                                                                                                                                                                                                        $
                                                                                                                                                                                                        (5.4
                                                                                                                                                                                                        )
                                                                                                                                                                                                        $
                                                                                                                                                                                                        54.6
                                                                                                                                                                                                        
                                                                                                                                                                                                        $
                                                                                                                                                                                                        41.7Average
      number of basic common shares outstanding
                                                                                                                                                                                                        
                                                                                                                                                                                                        128.5
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        86.0
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        123.9
                                                                                                                                                                                                        
                                                                                                                                                                                                        
                                                                                                                                                                                                        85.9Basic
      and diluted earnings (loss) per common shareContinuing
      operations
                                                                                                                                                                                                        $
                                                                                                                                                                                                        0.28
                                                                                                                                                                                                        
                                                                                                                                                                                                        $
                                                                                                                                                                                                        0.15
                                                                                                                                                                                                        
                                                                                                                                                                                                        $
                                                                                                                                                                                                        0.47
                                                                                                                                                                                                        
                                                                                                                                                                                                        $
                                                                                                                                                                                                        0.09Discontinued
      operations
                                                                                                                                                                                                        
                                                                                                                                                                                                        (0.02
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (0.21
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        (0.03
                                                                                                                                                                                                        )
                                                                                                                                                                                                        
                                                                                                                                                                                                        0.40Basic
      and diluted earnings (loss) per common share
                                                                                                                                                                                                        $
                                                                                                                                                                                                        0.26
                                                                                                                                                                                                        
                                                                                                                                                                                                        $
                                                                                                                                                                                                        (0.06
                                                                                                                                                                                                        )
                                                                                                                                                                                                        $
                                                                                                                                                                                                        0.44
                                                                                                                                                                                                        
                                                                                                                                                                                                        $
                                                                                                                                                                                                        0.49Cash
      dividends per common share
                                                                                                                                                                                                        $
                                                                                                                                                                                                        0.2075
                                                                                                                                                                                                        
                                                                                                                                                                                                        $
                                                                                                                                                                                                        0.415
                                                                                                                                                                                                        
                                                                                                                                                                                                        $
                                                                                                                                                                                                        0.415
                                                                                                                                                                                                        
                                                                                                                                                                                                        $
                                                                                                                                                                                                        0.83The
      accompanying Notes to Consolidated Financial Statements are an integral
      part of these
statements.
 7
 GREAT
      PLAINS ENERGYConsolidated
      Statements of Cash Flows(Unaudited)Year
      to Date June 30
                                                                                                                                    2009
                                                                                                                                    2008Cash
      Flows from Operating Activities
                                                                                                                                    (millions)Net
      income
                                                                                                                                    $
                                                                                                                                    55.5
                                                                                                                                    
                                                                                                                                    $
                                                                                                                                    42.5Adjustments
      to reconcile income to net cash from operating activities:Depreciation
      and amortization
                                                                                                                                    
                                                                                                                                    142.4
                                                                                                                                    
                                                                                                                                    
                                                                                                                                    104.3Amortization
      of:Nuclear
      fuel
                                                                                                                                    
                                                                                                                                    8.6
                                                                                                                                    
                                                                                                                                    
                                                                                                                                    5.5Other
                                                                                                                                    
                                                                                                                                    (6.5
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    5.0Deferred
      income taxes, net
                                                                                                                                    
                                                                                                                                    (3.0
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    14.6Investment
      tax credit amortization
                                                                                                                                    
                                                                                                                                    (1.1
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    (0.7
                                                                                                                                    )Loss
      from equity investments, net of income taxes
                                                                                                                                    
                                                                                                                                    0.2
                                                                                                                                    
                                                                                                                                    
                                                                                                                                    0.8Fair
      value impacts from energy contracts - Strategic Energy
                                                                                                                                    
                                                                                                                                    -
                                                                                                                                    
                                                                                                                                    
                                                                                                                                    (189.1
                                                                                                                                    )Fair
      value impacts from interest rate hedging
                                                                                                                                    
                                                                                                                                    -
                                                                                                                                    
                                                                                                                                    
                                                                                                                                    9.2Loss
      on sale of Strategic Energy
                                                                                                                                    
                                                                                                                                    -
                                                                                                                                    
                                                                                                                                    
                                                                                                                                    116.6Other
      operating activities (Note 3)
                                                                                                                                    
                                                                                                                                    (154.8
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    (21.5
                                                                                                                                    )Net
      cash from operating activities
                                                                                                                                    
                                                                                                                                    41.3
                                                                                                                                    
                                                                                                                                    
                                                                                                                                    87.2Cash
      Flows from Investing ActivitiesUtility
      capital expenditures
                                                                                                                                    
                                                                                                                                    (496.6
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    (378.8
                                                                                                                                    )Allowance
      for borrowed funds used during construction
                                                                                                                                    
                                                                                                                                    (19.3
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    (10.1
                                                                                                                                    )Payment
      to Black Hills for asset sale working capital adjustment
                                                                                                                                    
                                                                                                                                    (7.7
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    -Proceeds
      from sale of Strategic Energy, net of cash sold
                                                                                                                                    
                                                                                                                                    -
                                                                                                                                    
                                                                                                                                    
                                                                                                                                    216.4Purchases
      of nuclear decommissioning trust investments
                                                                                                                                    
                                                                                                                                    (26.6
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    (23.8
                                                                                                                                    )Proceeds
      from nuclear decommissioning trust investments
                                                                                                                                    
                                                                                                                                    24.7
                                                                                                                                    
                                                                                                                                    
                                                                                                                                    22.0Other
      investing activities
                                                                                                                                    
                                                                                                                                    (0.1
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    (9.1
                                                                                                                                    )Net
      cash from investing activities
                                                                                                                                    
                                                                                                                                    (525.6
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    (183.4
                                                                                                                                    )Cash
      Flows from Financing ActivitiesIssuance
      of common stock
                                                                                                                                    
                                                                                                                                    215.8
                                                                                                                                    
                                                                                                                                    
                                                                                                                                    5.3Issuance
      of long-term debt
                                                                                                                                    
                                                                                                                                    695.1
                                                                                                                                    
                                                                                                                                    
                                                                                                                                    350.3Issuance
      fees
                                                                                                                                    
                                                                                                                                    (22.4
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    (4.3
                                                                                                                                    )Repayment
      of long-term debt
                                                                                                                                    
                                                                                                                                    (1.7
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    -Net
      change in short-term borrowings
                                                                                                                                    
                                                                                                                                    (394.4
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    (214.9
                                                                                                                                    )Dividends
      paid
                                                                                                                                    
                                                                                                                                    (53.6
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    (72.5
                                                                                                                                    )Other
      financing activities
                                                                                                                                    
                                                                                                                                    (1.6
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    (1.1
                                                                                                                                    )Net
      cash from financing activities
                                                                                                                                    
                                                                                                                                    437.2
                                                                                                                                    
                                                                                                                                    
                                                                                                                                    62.8Net
      Change in Cash and Cash Equivalents
                                                                                                                                    
                                                                                                                                    (47.1
                                                                                                                                    )
                                                                                                                                    
                                                                                                                                    (33.4
                                                                                                                                    )Cash and Cash Equivalents at
      Beginning of Year (includes $43.1million
      of cash included in assets of discontinued operations in
    2008)
                                                                                                                                    
                                                                                                                                    61.1
                                                                                                                                    
                                                                                                                                    
                                                                                                                                    67.1Cash
      and Cash Equivalents at End of Period
                                                                                                                                    $
                                                                                                                                    14.0
                                                                                                                                    
                                                                                                                                    $
                                                                                                                                    33.7The
      accompanying Notes to Consolidated Financial Statements are an integral
      part of these
statements.
 8
 GREAT
      PLAINS ENERGYConsolidated
      Statements of Common Shareholders' Equity(Unaudited)Year
      to Date June 30
                                                                                                                                                                                                      2009
                                                                                                                                                                                                      2008Shares
                                                                                                                                                                                                      Amount
                                                                                                                                                                                                      Shares
                                                                                                                                                                                                      AmountCommon
      Stock
                                                                                                                                                                                                      (millions,
      except share amounts)Beginning
      balance
                                                                                                                                                                                                      
                                                                                                                                                                                                      119,375,923
                                                                                                                                                                                                      
                                                                                                                                                                                                      $
                                                                                                                                                                                                      2,118.4
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      86,325,136
                                                                                                                                                                                                      
                                                                                                                                                                                                      $
                                                                                                                                                                                                      1,065.9Issuance
      of common stock
                                                                                                                                                                                                      
                                                                                                                                                                                                      15,656,447
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      216.0
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      265,575
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      5.6Common
      stock issuance fees
                                                                                                                                                                                                      
                                                                                                                                                                                                      -
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (6.8
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      -
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      -Issuance
      of restricted common stock
                                                                                                                                                                                                      
                                                                                                                                                                                                      365,687
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      5.3
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      56,509
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      1.5Equity
      compensation expense, net of forfeitures
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (0.3
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      1.8Unearned
      CompensationIssuance
      of restricted common stock
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (5.3
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (1.5
                                                                                                                                                                                                      )Forfeiture
      of restricted common stock
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      0.8
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (0.1
                                                                                                                                                                                                      )Compensation
      expense recognized
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      2.1
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      2.8Equity
      Units allocated fees and expenses and thepresent
      value of contract adjustment payments
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (22.4
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      -Other
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (0.2
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (0.3
                                                                                                                                                                                                      )Ending
      balance
                                                                                                                                                                                                      
                                                                                                                                                                                                      135,398,057
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      2,307.6
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      86,647,220
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      1,075.7Retained
      EarningsBeginning
      balance
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      489.3
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      506.9Net
      income attributable to Great Plains Energy
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      55.4
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      42.5Dividends:Common
      stock
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (52.8
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (71.7
                                                                                                                                                                                                      )Preferred
      stock - at required rates
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (0.8
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (0.8
                                                                                                                                                                                                      )Performance
      shares
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (0.1
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (0.2
                                                                                                                                                                                                      )Performance
      shares amendment
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      0.3
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      -Ending
      balance
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      491.3
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      476.7Treasury
      StockBeginning
      balance
                                                                                                                                                                                                      
                                                                                                                                                                                                      (120,677
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      (3.6
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      (90,929
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      (2.8
                                                                                                                                                                                                      )Treasury
      shares acquired
                                                                                                                                                                                                      
                                                                                                                                                                                                      (116,526
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      (2.6
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      (34,955
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      (0.9
                                                                                                                                                                                                      )Treasury
      shares reissued
                                                                                                                                                                                                      
                                                                                                                                                                                                      794
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      -
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      -
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      -Ending
      balance
                                                                                                                                                                                                      
                                                                                                                                                                                                      (236,409
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      (6.2
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      (125,884
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      (3.7
                                                                                                                                                                                                      )Accumulated
      Other Comprehensive Income (Loss)Beginning
      balance
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (53.5
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (2.1
                                                                                                                                                                                                      )Derivative
      hedging activity, net of tax
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      2.5
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (14.4
                                                                                                                                                                                                      )Change
      in unrecognized pension expense, net of tax
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      0.1
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      0.2Ending
      balance
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (50.9
                                                                                                                                                                                                      )
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      (16.3
                                                                                                                                                                                                      )Total
      Great Plains Energy Common Shareholders' Equity
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      2,741.8
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      1,532.4Noncontrolling
      InterestBeginning
      balance
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      1.0
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      -Net
      income attributable to noncontrolling interest
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      0.1
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      -Ending
      balance
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      1.1
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      -Total
      Common Shareholders' Equity
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      $
                                                                                                                                                                                                      2,742.9
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      
                                                                                                                                                                                                      $
                                                                                                                                                                                                      1,532.4The
      accompanying Notes to Consolidated Financial Statements are an integral
      part of these
statements.
 9
 GREAT
      PLAINS ENERGYConsolidated
      Statements of Comprehensive Income(Unaudited)Three
      Months Ended
                                                                                                                                                                                        Year
      to DateJune
      30
                                                                                                                                                                                        June
      302009
                                                                                                                                                                                        2008
                                                                                                                                                                                        2009
                                                                                                                                                                                        2008(millions)Net
      income (loss)
                                                                                                                                                                                        $
                                                                                                                                                                                        33.8
                                                                                                                                                                                        
                                                                                                                                                                                        $
                                                                                                                                                                                        (5.0
                                                                                                                                                                                        )
                                                                                                                                                                                        $
                                                                                                                                                                                        55.5
                                                                                                                                                                                        
                                                                                                                                                                                        $
                                                                                                                                                                                        42.5Other
      comprehensive income (loss)Gain
      (loss) on derivative hedging instruments
                                                                                                                                                                                        
                                                                                                                                                                                        0.7
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (1.0
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        0.7
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        80.6Income
      tax benefit (expense)
                                                                                                                                                                                        
                                                                                                                                                                                        (0.2
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        0.6
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (0.2
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        (33.4
                                                                                                                                                                                        )Net
      gain (loss) on derivative hedging instruments
                                                                                                                                                                                        
                                                                                                                                                                                        0.5
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (0.4
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        0.5
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        47.2Reclassification
      to expenses, net of tax
                                                                                                                                                                                        
                                                                                                                                                                                        1.2
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (64.0
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        2.0
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (61.6
                                                                                                                                                                                        )Derivative
      hedging activity, net of tax
                                                                                                                                                                                        
                                                                                                                                                                                        1.7
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (64.4
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        2.5
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (14.4
                                                                                                                                                                                        )Defined
      benefit pension plansAmortization
      of net gains included in net periodicbenefit
      costs
                                                                                                                                                                                        
                                                                                                                                                                                        0.2
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        0.1
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        0.2
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        0.2Income
      tax expense
                                                                                                                                                                                        
                                                                                                                                                                                        (0.1
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        -
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (0.1
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        -Net
      change in unrecognized pension expense
                                                                                                                                                                                        
                                                                                                                                                                                        0.1
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        0.1
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        0.1
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        0.2Comprehensive
      income (loss)
                                                                                                                                                                                        
                                                                                                                                                                                        35.6
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (69.3
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        58.1
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        28.3Less:  comprehensive
      income attributable to noncontrolling interest
                                                                                                                                                                                        
                                                                                                                                                                                        (0.1
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        -
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (0.1
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        -Comprehensive
      income (loss) attributable to Great Plains Energy
                                                                                                                                                                                        $
                                                                                                                                                                                        35.5
                                                                                                                                                                                        
                                                                                                                                                                                        $
                                                                                                                                                                                        (69.3
                                                                                                                                                                                        )
                                                                                                                                                                                        $
                                                                                                                                                                                        58.0
                                                                                                                                                                                        
                                                                                                                                                                                        $
                                                                                                                                                                                        28.3The
      accompanying Notes to Consolidated Financial Statements are an integral
      part of these
statements.
 10
 KANSAS
      CITY POWER & LIGHT COMPANYConsolidated
      Balance Sheets(Unaudited)June
      30
                                                                                                                                                      December
      312009
                                                                                                                                                      2008ASSETS
                                                                                                                                                      (millions,
      except share amounts)Current
      AssetsCash
      and cash equivalents
                                                                                                                                                      $
                                                                                                                                                      3.9
                                                                                                                                                      
                                                                                                                                                      $
                                                                                                                                                      5.4Funds
      on deposit
                                                                                                                                                      
                                                                                                                                                      0.4
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      -Receivables,
      net
                                                                                                                                                      
                                                                                                                                                      160.9
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      161.6Fuel
      inventories, at average cost
                                                                                                                                                      
                                                                                                                                                      48.5
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      51.7Materials
      and supplies, at average cost
                                                                                                                                                      
                                                                                                                                                      75.1
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      68.3Deferred
      refueling outage costs
                                                                                                                                                      
                                                                                                                                                      6.9
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      12.4Refundable
      income taxes
                                                                                                                                                      
                                                                                                                                                      -
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      11.9Deferred
      income taxes
                                                                                                                                                      
                                                                                                                                                      7.6
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      4.9Derivative
      instruments
                                                                                                                                                      
                                                                                                                                                      0.4
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      0.6Prepaid
      expenses
                                                                                                                                                      
                                                                                                                                                      13.2
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      11.8Total
                                                                                                                                                      
                                                                                                                                                      316.9
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      328.6Nonutility
      Property and InvestmentsNuclear
      decommissioning trust fund
                                                                                                                                                      
                                                                                                                                                      100.2
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      96.9Other
                                                                                                                                                      
                                                                                                                                                      3.8
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      3.7Total
                                                                                                                                                      
                                                                                                                                                      104.0
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      100.6Utility
      Plant, at Original CostElectric
                                                                                                                                                      
                                                                                                                                                      6,116.4
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      5,671.4Less-accumulated
      depreciation
                                                                                                                                                      
                                                                                                                                                      2,795.6
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      2,738.8Net
      utility plant in service
                                                                                                                                                      
                                                                                                                                                      3,320.8
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      2,932.6Construction
      work in progress
                                                                                                                                                      
                                                                                                                                                      1,016.7
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      1,148.5Nuclear
      fuel, net of amortization of $119.4 and $110.8
                                                                                                                                                      
                                                                                                                                                      75.2
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      63.9Total
                                                                                                                                                      
                                                                                                                                                      4,412.7
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      4,145.0Deferred
      Charges and Other AssetsRegulatory
      assets
                                                                                                                                                      
                                                                                                                                                      606.5
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      609.1Other
                                                                                                                                                      
                                                                                                                                                      45.2
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      45.5Total
                                                                                                                                                      
                                                                                                                                                      651.7
                                                                                                                                                      
                                                                                                                                                      
                                                                                                                                                      654.6Total
                                                                                                                                                      $
                                                                                                                                                      5,485.3
                                                                                                                                                      
                                                                                                                                                      $
                                                                                                                                                      5,228.8The
      disclosures regarding KCP&L included in the accompanying Notes to
      Consolidated Financial Statementsare
      an integral part of these
statements.
 11
 KANSAS
      CITY POWER & LIGHT COMPANYConsolidated
      Balance Sheets(Unaudited)June
      30
                                                                                                                                                    December
      312009
                                                                                                                                                    2008LIABILITIES
      AND CAPITALIZATION
                                                                                                                                                    (millions,
      except share amounts)Current
      LiabilitiesCommercial
      paper
                                                                                                                                                    $
                                                                                                                                                    79.8
                                                                                                                                                    
                                                                                                                                                    $
                                                                                                                                                    380.2Accounts
      payable
                                                                                                                                                    
                                                                                                                                                    213.3
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    299.3Accrued
      taxes
                                                                                                                                                    
                                                                                                                                                    47.3
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    20.5Accrued
      interest
                                                                                                                                                    
                                                                                                                                                    25.4
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    18.1Accrued
      compensation and benefits
                                                                                                                                                    
                                                                                                                                                    37.6
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    29.7Pension
      and post-retirement liability
                                                                                                                                                    
                                                                                                                                                    1.6
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    1.6Derivative
      instruments
                                                                                                                                                    
                                                                                                                                                    0.4
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    80.3Other
                                                                                                                                                    
                                                                                                                                                    8.4
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    9.1Total
                                                                                                                                                    
                                                                                                                                                    413.8
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    838.8Deferred
      Credits and Other LiabilitiesDeferred
      income taxes
                                                                                                                                                    
                                                                                                                                                    583.9
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    596.2Deferred
      tax credits
                                                                                                                                                    
                                                                                                                                                    115.4
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    99.9Asset
      retirement obligations
                                                                                                                                                    
                                                                                                                                                    116.1
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    111.9Pension
      and post-retirement liability
                                                                                                                                                    
                                                                                                                                                    424.6
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    410.6Regulatory
      liabilities
                                                                                                                                                    
                                                                                                                                                    116.4
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    115.8Other
                                                                                                                                                    
                                                                                                                                                    59.5
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    56.8Total
                                                                                                                                                    
                                                                                                                                                    1,415.9
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    1,391.2CapitalizationCommon
      shareholder's equityCommon
      stock-1,000 shares authorized without par value1
      share issued, stated value
                                                                                                                                                    
                                                                                                                                                    1,563.1
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    1,315.6Retained
      earnings
                                                                                                                                                    
                                                                                                                                                    360.5
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    353.2Accumulated
      other comprehensive loss
                                                                                                                                                    
                                                                                                                                                    (44.5
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (46.9
                                                                                                                                                    )Total
                                                                                                                                                    
                                                                                                                                                    1,879.1
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    1,621.9Long-term
      debt (Note 11)
                                                                                                                                                    
                                                                                                                                                    1,776.5
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    1,376.9Total
                                                                                                                                                    
                                                                                                                                                    3,655.6
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    2,998.8Commitments
      and Contingencies (Note 13)Total
                                                                                                                                                    $
                                                                                                                                                    5,485.3
                                                                                                                                                    
                                                                                                                                                    $
                                                                                                                                                    5,228.8The
      disclosures regarding KCP&L included in the accompanying Notes to
      Consolidated Financial Statementsare
      an integral part of these
statements.
 12
 KANSAS
      CITY POWER & LIGHT COMPANYConsolidated
      Statements of Income(Unaudited)Three Months
      Ended
                                                                                                                                                                                                                                Year
      to DateJune
      30
                                                                                                                                                                                                                                June
      302009
                                                                                                                                                                                                                                2008
                                                                                                                                                                                                                                2009
                                                                                                                                                                                                                                2008Operating
      Revenues
                                                                                                                                                                                                                                (millions)Electric
      revenues
                                                                                                                                                                                                                                $
                                                                                                                                                                                                                                324.8
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                $
                                                                                                                                                                                                                                335.0
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                $
                                                                                                                                                                                                                                602.3
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                $
                                                                                                                                                                                                                                632.6Operating
      ExpensesFuel
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                60.1
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                58.3
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                112.8
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                113.0Purchased
      power
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                14.4
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                38.2
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                38.8
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                69.0Operating
      expenses
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                74.5
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                78.3
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                152.0
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                152.3Maintenance
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                25.1
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                27.8
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                51.3
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                56.8Depreciation
      and amortization
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                55.2
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                50.8
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                106.8
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                101.0General
      taxes
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                27.3
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                28.9
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                57.6
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                58.4Other
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                -
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                0.2
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (0.1
                                                                                                                                                                                                                                )
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                0.2Total
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                256.6
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                282.5
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                519.2
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                550.7Operating
      income
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                68.2
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                52.5
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                83.1
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                81.9Non-operating
      income
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                6.9
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                5.6
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                16.1
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                9.0Non-operating
      expenses
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (1.0
                                                                                                                                                                                                                                )
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (1.3
                                                                                                                                                                                                                                )
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (2.1
                                                                                                                                                                                                                                )
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (2.5
                                                                                                                                                                                                                                )Interest
      charges
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (23.2
                                                                                                                                                                                                                                )
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (19.9
                                                                                                                                                                                                                                )
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (40.4
                                                                                                                                                                                                                                )
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (36.7
                                                                                                                                                                                                                                )Income
      before income tax expense
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                50.9
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                36.9
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                56.7
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                51.7Income
      tax expense
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (16.0
                                                                                                                                                                                                                                )
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (29.0
                                                                                                                                                                                                                                )
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (13.4
                                                                                                                                                                                                                                )
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (26.8
                                                                                                                                                                                                                                )Net
      income
                                                                                                                                                                                                                                $
                                                                                                                                                                                                                                34.9
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                $
                                                                                                                                                                                                                                7.9
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                $
                                                                                                                                                                                                                                43.3
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                $
                                                                                                                                                                                                                                24.9The
      disclosures regarding KCP&L included in the accompanying Notes to
      Consolidated Financial Statements are an integral partof
      these
statements.
 13
 KANSAS
      CITY POWER & LIGHT COMPANYConsolidated
      Statements of Cash Flows(Unaudited)Year
      to Date June 30
                                                                                                                                                2009
                                                                                                                                                2008Cash
      Flows from Operating Activities
                                                                                                                                                (millions)Net
      income
                                                                                                                                                $
                                                                                                                                                43.3
                                                                                                                                                
                                                                                                                                                $
                                                                                                                                                24.9Adjustments
      to reconcile income to net cash from operating activities:Depreciation
      and amortization
                                                                                                                                                
                                                                                                                                                106.8
                                                                                                                                                
                                                                                                                                                
                                                                                                                                                101.0Amortization
      of:Nuclear
      fuel
                                                                                                                                                
                                                                                                                                                8.6
                                                                                                                                                
                                                                                                                                                
                                                                                                                                                5.5Other
                                                                                                                                                
                                                                                                                                                8.3
                                                                                                                                                
                                                                                                                                                
                                                                                                                                                4.0Deferred
      income taxes, net
                                                                                                                                                
                                                                                                                                                (13.8
                                                                                                                                                )
                                                                                                                                                
                                                                                                                                                9.6Investment
      tax credit amortization
                                                                                                                                                
                                                                                                                                                (0.7
                                                                                                                                                )
                                                                                                                                                
                                                                                                                                                (0.7
                                                                                                                                                )Other
      operating activities (Note 3)
                                                                                                                                                
                                                                                                                                                (74.6
                                                                                                                                                )
                                                                                                                                                
                                                                                                                                                (42.7
                                                                                                                                                )Net
      cash from operating activities
                                                                                                                                                
                                                                                                                                                77.9
                                                                                                                                                
                                                                                                                                                
                                                                                                                                                101.6Cash
      Flows from Investing ActivitiesUtility
      capital expenditures
                                                                                                                                                
                                                                                                                                                (378.9
                                                                                                                                                )
                                                                                                                                                
                                                                                                                                                (378.8
                                                                                                                                                )Allowance
      for borrowed funds used during construction
                                                                                                                                                
                                                                                                                                                (15.9
                                                                                                                                                )
                                                                                                                                                
                                                                                                                                                (10.1
                                                                                                                                                )Purchases
      of nuclear decommissioning trust investments
                                                                                                                                                
                                                                                                                                                (26.6
                                                                                                                                                )
                                                                                                                                                
                                                                                                                                                (23.8
                                                                                                                                                )Proceeds
      from nuclear decommissioning trust investments
                                                                                                                                                
                                                                                                                                                24.7
                                                                                                                                                
                                                                                                                                                
                                                                                                                                                22.0Other
      investing activities
                                                                                                                                                
                                                                                                                                                2.6
                                                                                                                                                
                                                                                                                                                
                                                                                                                                                (8.6
                                                                                                                                                )Net
      cash from investing activities
                                                                                                                                                
                                                                                                                                                (394.1
                                                                                                                                                )
                                                                                                                                                
                                                                                                                                                (399.3
                                                                                                                                                )Cash
      Flows from Financing ActivitiesIssuance
      of long-term debt
                                                                                                                                                
                                                                                                                                                407.6
                                                                                                                                                
                                                                                                                                                
                                                                                                                                                350.3Issuance
      fees
                                                                                                                                                
                                                                                                                                                (4.0
                                                                                                                                                )
                                                                                                                                                
                                                                                                                                                (4.1
                                                                                                                                                )Net
      change in short-term borrowings
                                                                                                                                                
                                                                                                                                                (300.4
                                                                                                                                                )
                                                                                                                                                
                                                                                                                                                (172.9
                                                                                                                                                )Dividends
      paid to Great Plains Energy
                                                                                                                                                
                                                                                                                                                (36.0
                                                                                                                                                )
                                                                                                                                                
                                                                                                                                                (72.0
                                                                                                                                                )Equity
      contribution from Great Plains Energy
                                                                                                                                                
                                                                                                                                                247.5
                                                                                                                                                
                                                                                                                                                
                                                                                                                                                200.0Net
      cash from financing activities
                                                                                                                                                
                                                                                                                                                314.7
                                                                                                                                                
                                                                                                                                                
                                                                                                                                                301.3Net
      Change in Cash and Cash Equivalents
                                                                                                                                                
                                                                                                                                                (1.5
                                                                                                                                                )
                                                                                                                                                
                                                                                                                                                3.6Cash
      and Cash Equivalents at Beginning of Year
                                                                                                                                                
                                                                                                                                                5.4
                                                                                                                                                
                                                                                                                                                
                                                                                                                                                3.2Cash
      and Cash Equivalents at End of Period
                                                                                                                                                $
                                                                                                                                                3.9
                                                                                                                                                
                                                                                                                                                $
                                                                                                                                                6.8The
      disclosures regarding KCP&L included in the accompanying Notes to
      Consolidated FinancialStatements
      are an integral part of these
statements.
 14
 KANSAS
      CITY POWER & LIGHT COMPANYConsolidated
      Statements of Common Shareholder's Equity(Unaudited)Year
      to Date June 30
                                                                                                                                                                                                                                                    2009
                                                                                                                                                                                                                                                    2008Shares
                                                                                                                                                                                                                                                    Amount
                                                                                                                                                                                                                                                    Shares
                                                                                                                                                                                                                                                    AmountCommon
      Stock
                                                                                                                                                                                                                                                    (millions,
      except share amounts)Beginning
      balance
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    1
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    $
                                                                                                                                                                                                                                                    1,315.6
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    1
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    $
                                                                                                                                                                                                                                                    1,115.6Equity
      contribution from Great Plains Energy
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    247.5
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    200.0Ending
      balance
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    1
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    1,563.1
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    1
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    1,315.6Retained
      EarningsBeginning
      balance
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    353.2
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    371.3Net
      income
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    43.3
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    24.9Transfer
      of HSS to KLT Inc.
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    -
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    0.7Dividends:Common
      stock held by Great Plains Energy
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    (36.0
                                                                                                                                                                                                                                                    )
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    (72.0
                                                                                                                                                                                                                                                    )Ending
      balance
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    360.5
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    324.9Accumulated
      Other Comprehensive Income (Loss)Beginning
      balance
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    (46.9
                                                                                                                                                                                                                                                    )
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    (7.5
                                                                                                                                                                                                                                                    )Derivative
      hedging activity, net of tax
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    2.4
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    (4.6
                                                                                                                                                                                                                                                    )Ending
      balance
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    (44.5
                                                                                                                                                                                                                                                    )
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    (12.1
                                                                                                                                                                                                                                                    )Total
      Common Shareholder's Equity
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    $
                                                                                                                                                                                                                                                    1,879.1
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                    $
                                                                                                                                                                                                                                                    1,628.4The
      disclosures regarding KCP&L included in the accompanying Notes to
      Consolidated Financial Statements are anintegral
      part of theses
statements.
 15
 KANSAS
      CITY POWER & LIGHT COMPANYConsolidated
      Statements of Comprehensive Income(Unaudited)Three
      Months Ended
                                                                                                                                                                                                  Year
      to DateJune
      30
                                                                                                                                                                                                  June
      302009
                                                                                                                                                                                                  2008
                                                                                                                                                                                                  2009
                                                                                                                                                                                                  2008(millions)Net
      income
                                                                                                                                                                                                  $
                                                                                                                                                                                                  34.9
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  7.9
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  43.3
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  24.9Other
      comprehensive income (loss)Gain
      (loss) on derivative hedging instruments
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.7
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  1.7
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.7
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  (8.6
                                                                                                                                                                                                  )Income
      tax benefit (expense)
                                                                                                                                                                                                  
                                                                                                                                                                                                  (0.2
                                                                                                                                                                                                  )
                                                                                                                                                                                                  
                                                                                                                                                                                                  (0.5
                                                                                                                                                                                                  )
                                                                                                                                                                                                  
                                                                                                                                                                                                  (0.2
                                                                                                                                                                                                  )
                                                                                                                                                                                                  
                                                                                                                                                                                                  3.4Net
      gain (loss) on derivative hedging instruments
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.5
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  1.2
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.5
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  (5.2
                                                                                                                                                                                                  )Reclassification
      to expenses, net of tax
                                                                                                                                                                                                  
                                                                                                                                                                                                  1.3
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.6
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  1.9
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.6Derivative
      hedging activity, net of tax
                                                                                                                                                                                                  
                                                                                                                                                                                                  1.8
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  1.8
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  2.4
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  (4.6
                                                                                                                                                                                                  )Comprehensive
      income
                                                                                                                                                                                                  $
                                                                                                                                                                                                  36.7
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  9.7
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  45.7
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  20.3The
      disclosures regarding KCP&L included in the accompanying Notes to
      Consolidated Financial Statements are anintegral
      part of these
statements.
 16
 GREAT
PLAINS ENERGY INCORPORATED
 KANSAS
CITY POWER & LIGHT COMPANY
  Notes
to Unaudited Consolidated Financial Statements
  The notes
to unaudited consolidated financial statements that follow are a combined
presentation for Great Plains Energy Incorporated and Kansas City Power &
Light Company, both registrants under this filing.  The terms “Great
Plains Energy,” “Company,” and “KCP&L” are used throughout this
report.  “Great Plains Energy” and the “Company” refer to Great Plains
Energy Incorporated and its consolidated subsidiaries, unless otherwise
indicated.  “KCP&L” refers to Kansas City Power & Light
Company and its consolidated subsidiaries.
  1.
                                                              SUMMARY
      OF SIGNIFICANT ACCOUNTING POLICIES
  Organization
 Great
Plains Energy, a Missouri corporation incorporated in 2001, is a public utility
holding company and does not own or operate any significant assets other than
the stock of its subsidiaries.  Great Plains Energy’s wholly owned
direct subsidiaries with operations or active subsidiaries are as
follows:
  ·
                                                              KCP&L
      is an integrated, regulated electric utility that provides electricity to
      customers primarily in the states of Missouri and
      Kansas.  KCP&L has one active wholly owned subsidiary,
      Kansas City Power & Light Receivables Company (Receivables
      Company).
  ·
                                                              KCP&L
      Greater Missouri Operations Company (GMO) is an integrated, regulated
      electric utility that primarily provides electricity to customers in the
      state of Missouri.  GMO also provides regulated steam service to
      certain customers in the St. Joseph, Missouri area.  GMO wholly
      owns MPS Merchant Services, Inc. (MPS Merchant), which has certain
      long-term natural gas contracts remaining from its former non-regulated
      trading operations.  Great Plains Energy acquired GMO on July
      14, 2008.  See Note 2 to the consolidated financial statements
      for additional information.
  ·
                                                              Great
      Plains Energy Services Incorporated (Services) obtains certain goods and
      third-party services for its affiliated companies.  On December
      16, 2008, Services employees were transferred to
  KCP&L.
  ·
                                                              KLT
      Inc. is an intermediate holding company that primarily holds investments
      in affordable housing limited
partnerships.
  Great
Plains Energy’s sole reportable business segment is electric
utility.  For the three months ended and year to date June 30, 2008,
Great Plains Energy’s electric utility segment is the same as the previously
reported KCP&L segment.  See Note 19 for additional
information.
  Basic
and Diluted Earnings (Loss) per Common Share Calculation
 To
determine basic EPS, preferred stock dividend requirements and net income
attributable to noncontrolling interest are deducted from income from continuing
operations and net income before dividing by the average number of common shares
outstanding.  The earnings (loss) per share impact of discontinued
operations is determined by dividing income (loss) from discontinued operations,
net of income taxes, by the average number of common shares
outstanding.  The effect of dilutive securities, calculated using the
treasury stock method, assumes the issuance of common shares applicable to
performance shares, restricted stock, stock options and Equity
Units.
 17
 
 The
following table reconciles Great Plains Energy’s basic and diluted EPS from
continuing operations.
 Three
      Months Ended
                                                                                                                                                                                                  
                                                                                                                                                                                                  Year
      to DateJune
      30
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  June
      302009
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  2008
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  2009
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  2008Income
                                                                                                                                                                                                  
                                                                                                                                                                                                  (millions,
      except per share amounts)Income
      from continuing operations
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  36.9
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  13.2
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  58.6
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  7.8Less:
      net income attributable to noncontrolling interest
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.1
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  -
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.1
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  -Less:
      preferred stock dividend requirements
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.4
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.4
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.8
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.8Income
      available for common shareholders
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  36.4
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  12.8
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  57.7
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  7.0Common
      Shares OutstandingAverage
      number of common shares outstanding
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  128.5
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  86.0
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  123.9
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  85.9Add:
      effect of dilutive securities
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.1
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  -
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  0.1
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  -Diluted
      average number of common shares outstanding
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  128.6
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  86.0
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  124.0
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  85.9Basic
      and diluted EPS from continuing operations
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  0.28
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  0.15
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  0.47
                                                                                                                                                                                                  
                                                                                                                                                                                                  
                                                                                                                                                                                                  $
                                                                                                                                                                                                  0.09
 The
computation of diluted EPS for the three months ended June 30, 2009, excludes
anti-dilutive shares consisting of 304,439 performance shares, 264,298
restricted stock shares, 346,995 stock options and 5.8 million Equity
Units.
 The
computation of diluted EPS year to date June 30, 2009, excludes anti-dilutive
shares consisting of 392,495 performance shares, 433,644 restricted stock
shares, 346,995 stock options and 5.8 million Equity Units.
 
 Great
Plains Energy had a net loss for the three months ended June 30, 2008;
therefore, no potential common shares are included in the diluted EPS
calculation because the effect is always anti-dilutive.  The
computation of diluted EPS for the three months ended June 30, 2008, excludes
339,463 performance shares, 470,795 restricted stock shares and 109,472 stock
options.  The computation of diluted EPS year to date June 30, 2008,
excludes anti-dilutive shares consisting of 234,921 performance shares and
444,584 restricted stock shares.  There were no anti-dilutive shares
applicable to stock options.
 
 Dividends
Declared
 In July
2009, the Board of Directors declared a quarterly dividend of $0.2075 per share
on Great Plains Energy’s common stock.  The common dividend is payable
September 21, 2009, to shareholders of record as of August 28,
2009.  The Board of Directors also declared regular dividends on Great
Plains Energy’s preferred stock, payable December 1, 2009, to shareholders of
record as of November 6, 2009.
  2.
                                                                                                                                                                                                    GMO
      ACQUISITION
  On July
14, 2008, Great Plains Energy closed its acquisition of GMO.  The
total purchase price of the acquisition was approximately $1.7
billion.  The fair value of the 32.2 million shares of Great Plains
Energy common stock issued was approximately $1.0 billion.  Great
Plains Energy paid approximately $0.7 billion of cash
consideration.  Immediately prior to Great Plains Energy’s acquisition
of GMO, Black Hills Corporation (Black Hills) acquired GMO’s electric utility
assets in Colorado and its gas utility assets in Colorado, Kansas, Nebraska and
Iowa.  Following the closing of the acquisition, Great Plains Energy
wholly owns GMO, including its Missouri-based utility operations consisting of
the Missouri Public Service and St. Joseph Light & Power
divisions.  GMO is included in Great Plains Energy’s consolidated
financial statements beginning as of July 14, 2008.
  The
transaction received the final required regulatory approval order from the
Public Service Commission of the State of Missouri (MPSC) on July 1,
2008.  Certain parties have filed appeals and a motion to stay the
order with the Cole County, Missouri, circuit court.  The order
remains in effect unless reversed by the courts.
 18
 The MPSC
order provided for the deferral of transition costs to be amortized over a
five-year period to the extent that synergy savings exceed
amortization.  The Company settled its first post-transaction rate
cases and the settlement agreements were silent with respect to transition
costs.  The Company will continue to defer transition costs until
amortization is ordered by the MPSC.  The State Corporation Commission
of the State of Kansas (KCC) order approved the deferral of up to $10.0 million
of transition costs to be amortized over a five-year period beginning with rates
expected to be effective in 2010.  At June 30, 2009, Great Plains
Energy had $49.5 million of regulatory assets related to transition costs, which
included $28.3 million at KCP&L and $21.2 million at GMO.
  The
acquisition was accounted for under the purchase method of
accounting.  As a result, the assets and liabilities of GMO were
recorded at their estimated fair values as of July 14, 2008.  The fair
values are preliminary but will be finalized within one year from the
acquisition date.  The following table shows the preliminary
allocation of the purchase price to the assets acquired and liabilities assumed
at the date of the
acquisition.
 July
      142008Purchase
      Price Allocation
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              (millions)Cash
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              $
                                                                                                                                                                                                                                                                              677.7Common
      stock (32.2 million shares)
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              1,026.1
                                                                                                                                                                                                                                                                              (a)Stock
      options (0.5 million options)
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              2.7
                                                                                                                                                                                                                                                                              (b)Transaction
      costs
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              35.6Total
      purchase price
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              1,742.1Cash
      and cash equivalents
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              949.6Receivables
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              159.1Deferred
      income taxes
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              522.2Other
      current assets
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              131.4Utility
      plant, net
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              1,627.4Nonutility
      property and investments
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              131.4Regulatory
      assets
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              146.6Other
      long-term assets
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              76.0Total
      assets acquired
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              3,743.7Current
      liabilities
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              311.8Regulatory
      liabilities
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              115.9Deferred
      income taxes
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              241.5Long-term
      debt
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              1,334.2Other
      long-term liabilities
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              156.0Net
      assets acquired
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              1,584.3Preliminary
      goodwill
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              $
                                                                                                                                                                                                                                                                              157.8(a)
      The
      fair value is based on the average closing price of Great Plains Energycommon stockof
      $31.88, the average during the period beginning two tradingdays before and ending twotrading
      days after February 7, 2007, theannouncement of the acquisition, net of issuing costs.(b)
      The
      fair value is calculated by multiplying the stock options outstanding atJuly
      14,2008,
      by the option exchange ratio of 0.1569, calculated as defined inthe merger
agreement.
 
 Great
Plains Energy recorded $157.8 million of preliminary goodwill, all of which is
included in the electric utility segment.  None of the goodwill is tax
deductible.  The factors that contributed to a purchase price that
resulted in goodwill were strategic considerations and significant cost savings
and synergies including: expanded regulated electric utility business; adjacent
regulated electric utility territories; increased GMO financial strength and
flexibility; improved reliability and customer service and disposition of
non-strategic gas operations.
 19
 Changes
to the initial allocation of the purchase price consisted primarily of
additional fair value adjustments to certain real estate properties, increased
unrecognized tax benefits related to prior year tax positions on GMO tax
returns, adjustment to regulatory assets due to the settlement of regulatory
treatment and net operating loss valuation allowance adjustments.
  The
following table provides unaudited pro forma results of operations for Great
Plains Energy for the three months ended and year to date June 30, 2008, as if
the acquisition had occurred January 1, 2008.  Pro forma results are
not necessarily indicative of the actual results that would have resulted had
the acquisition actually occurred on January 1, 2008.
 Three
      Months
                                                                                                                          Year
      toEnded
                                                                                                                          DateJune
      30, 2008(millions,
      except per share amounts)Operating
      revenues
                                                                                                                          
                                                                                                                          $
                                                                                                                          500.1
                                                                                                                          
                                                                                                                          
                                                                                                                          $
                                                                                                                          945.0Income
      (loss) from continuing operations
                                                                                                                          
                                                                                                                          $
                                                                                                                          (2.5
                                                                                                                          )
                                                                                                                          
                                                                                                                          $
                                                                                                                          12.2Net
      income (loss)
                                                                                                                          
                                                                                                                          $
                                                                                                                          (20.7
                                                                                                                          )
                                                                                                                          
                                                                                                                          $
                                                                                                                          46.9Earnings
      (loss) available for common shareholders
                                                                                                                          $
                                                                                                                          (21.1
                                                                                                                          )
                                                                                                                          
                                                                                                                          $
                                                                                                                          46.1Basic
      and diluted earnings (loss) per common share fromcontinuing
      operations
                                                                                                                          
                                                                                                                          $
                                                                                                                          (0.02
                                                                                                                          )
                                                                                                                          
                                                                                                                          $
                                                                                                                          0.10Basic
      and diluted earnings (loss) per common share
                                                                                                                          $
                                                                                                                          (0.18
                                                                                                                          )
                                                                                                                          
                                                                                                                          $
                                                                                                                          0.39
 3.
                                                              SUPPLEMENTAL
      CASH FLOW INFORMATION
  Great
      Plains Energy Other Operating ActivitiesYear
      to Date June 30
                                                                                                                                
                                                                                                                                2009
                                                                                                                                
                                                                                                                                
                                                                                                                                2008Cash
      flows affected by changes in:
                                                                                                                                
                                                                                                                                (millions)Receivables
                                                                                                                                
                                                                                                                                $
                                                                                                                                0.1
                                                                                                                                
                                                                                                                                
                                                                                                                                $
                                                                                                                                (26.5
                                                                                                                                )Fuel
      inventories
                                                                                                                                
                                                                                                                                
                                                                                                                                (0.8
                                                                                                                                )
                                                                                                                                
                                                                                                                                
                                                                                                                                (12.1
                                                                                                                                )Materials
      and supplies
                                                                                                                                
                                                                                                                                
                                                                                                                                (10.7
                                                                                                                                )
                                                                                                                                
                                                                                                                                
                                                                                                                                (3.6
                                                                                                                                )Accounts
      payable
                                                                                                                                
                                                                                                                                
                                                                                                                                (101.2
                                                                                                                                )
                                                                                                                                
                                                                                                                                
                                                                                                                                49.8Accrued
      taxes
                                                                                                                                
                                                                                                                                
                                                                                                                                31.7
                                                                                                                                
                                                                                                                                
                                                                                                                                
                                                                                                                                39.0Accrued
      interest
                                                                                                                                
                                                                                                                                
                                                                                                                                5.0
                                                                                                                                
                                                                                                                                
                                                                                                                                
                                                                                                                                10.5Deferred
      refueling outage costs
                                                                                                                                
                                                                                                                                
                                                                                                                                5.5
                                                                                                                                
                                                                                                                                
                                                                                                                                
                                                                                                                                (11.7
                                                                                                                                )Accrued
      plant maintenance costs
                                                                                                                                
                                                                                                                                
                                                                                                                                0.8
                                                                                                                                
                                                                                                                                
                                                                                                                                
                                                                                                                                -Fuel
      adjustment clauses
                                                                                                                                
                                                                                                                                
                                                                                                                                3.6
                                                                                                                                
                                                                                                                                
                                                                                                                                
                                                                                                                                (17.3
                                                                                                                                )Pension
      and post-retirement benefit obligations
                                                                                                                                
                                                                                                                                
                                                                                                                                28.6
                                                                                                                                
                                                                                                                                
                                                                                                                                
                                                                                                                                14.8Allowance
      for equity funds used during construction
                                                                                                                                
                                                                                                                                
                                                                                                                                (20.1
                                                                                                                                )
                                                                                                                                
                                                                                                                                
                                                                                                                                (7.5
                                                                                                                                )Deferred
      acquisition costs
                                                                                                                                
                                                                                                                                
                                                                                                                                -
                                                                                                                                
                                                                                                                                
                                                                                                                                
                                                                                                                                (4.7
                                                                                                                                )Forward
      Starting Swaps settlement
                                                                                                                                
                                                                                                                                
                                                                                                                                (79.1
                                                                                                                                )
                                                                                                                                
                                                                                                                                
                                                                                                                                -T-Lock
      settlement
                                                                                                                                
                                                                                                                                
                                                                                                                                -
                                                                                                                                
                                                                                                                                
                                                                                                                                
                                                                                                                                (41.2
                                                                                                                                )Other
                                                                                                                                
                                                                                                                                
                                                                                                                                (18.2
                                                                                                                                )
                                                                                                                                
                                                                                                                                
                                                                                                                                (11.0
                                                                                                                                )Total
      other operating activities
                                                                                                                                
                                                                                                                                $
                                                                                                                                (154.8
                                                                                                                                )
                                                                                                                                
                                                                                                                                $
                                                                                                                                (21.5
                                                                                                                                )Cash
      paid during the period:Interest
                                                                                                                                
                                                                                                                                $
                                                                                                                                101.4
                                                                                                                                
                                                                                                                                
                                                                                                                                $
                                                                                                                                26.4Income
      taxes
                                                                                                                                
                                                                                                                                $
                                                                                                                                3.6
                                                                                                                                
                                                                                                                                
                                                                                                                                $
                                                                                                                                15.9Non-cash
      investing activities:Liabilities
      assumed for capital expenditures
                                                                                                                                
                                                                                                                                $
                                                                                                                                68.4
                                                                                                                                
                                                                                                                                
                                                                                                                                $
                                                                                                                                71.3
 20
 KCP&L
      Other Operating ActivitiesYear
      to Date June 30
                                                                                                                            
                                                                                                                            2009
                                                                                                                            
                                                                                                                            
                                                                                                                            2008Cash
      flows affected by changes in:
                                                                                                                            
                                                                                                                            (millions)Receivables
                                                                                                                            
                                                                                                                            $
                                                                                                                            (7.1
                                                                                                                            )
                                                                                                                            
                                                                                                                            $
                                                                                                                            6.1Fuel
      inventories
                                                                                                                            
                                                                                                                            
                                                                                                                            3.2
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (12.1
                                                                                                                            )Materials
      and supplies
                                                                                                                            
                                                                                                                            
                                                                                                                            (6.8
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            (3.6
                                                                                                                            )Accounts
      payable
                                                                                                                            
                                                                                                                            
                                                                                                                            (63.0
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            1.5Accrued
      taxes
                                                                                                                            
                                                                                                                            
                                                                                                                            54.9
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            30.6Accrued
      interest
                                                                                                                            
                                                                                                                            
                                                                                                                            7.3
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            9.6Deferred
      refueling outage costs
                                                                                                                            
                                                                                                                            
                                                                                                                            5.5
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (11.7
                                                                                                                            )Pension
      and post-retirement benefit obligations
                                                                                                                            
                                                                                                                            
                                                                                                                            26.9
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            13.7Allowance
      for equity funds used during construction
                                                                                                                            
                                                                                                                            
                                                                                                                            (14.7
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            (7.5
                                                                                                                            )Kansas
      Energy Cost Adjustment
                                                                                                                            
                                                                                                                            
                                                                                                                            (1.0
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            (17.3
                                                                                                                            )Forward
      Starting Swaps settlement
                                                                                                                            
                                                                                                                            
                                                                                                                            (79.1
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            -T-Lock
      settlement
                                                                                                                            
                                                                                                                            
                                                                                                                            -
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (41.2
                                                                                                                            )Other
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.7
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            (10.8
                                                                                                                            )Total
      other operating activities
                                                                                                                            
                                                                                                                            $
                                                                                                                            (74.6
                                                                                                                            )
                                                                                                                            
                                                                                                                            $
                                                                                                                            (42.7
                                                                                                                            )Cash
      paid during the period:Interest
                                                                                                                            
                                                                                                                            $
                                                                                                                            32.8
                                                                                                                            
                                                                                                                            
                                                                                                                            $
                                                                                                                            25.6Income
      taxes
                                                                                                                            
                                                                                                                            $
                                                                                                                            -
                                                                                                                            
                                                                                                                            
                                                                                                                            $
                                                                                                                            4.0Non-cash
      investing activities:Liabilities
      assumed for capital expenditures
                                                                                                                            
                                                                                                                            $
                                                                                                                            65.9
                                                                                                                            
                                                                                                                            
                                                                                                                            $
                                                                                                                            71.3
 Significant
Non-Cash Items
 Year to
date June 30, 2008, KCP&L recorded a $17.2 million increase in Asset
Retirement Obligations (AROs), with a corresponding increase in net utility
plant as a result of changes in cost estimates and timing used to compute the
present value of asbestos AROs for KCP&L’s generating
stations.  This activity had no impact on Great Plains Energy’s or
KCP&L’s 2008 cash flows.
  4.
                                                              RECEIVABLES
  Great
Plains Energy’s and KCP&L’s receivables are detailed in the following
table.
 June
      30
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          December
      312009
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          2008KCP&L
                                                                                                                                          
                                                                                                                                          (millions)Customer
      accounts receivable - billed
                                                                                                                                          
                                                                                                                                          $
                                                                                                                                          10.7
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          $
                                                                                                                                          15.5Customer
      accounts receivable - unbilled
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          59.9
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          41.7Allowance
      for doubtful accounts
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          (1.8
                                                                                                                                          )
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          (1.2
                                                                                                                                          )Intercompany
      receivables
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          27.6
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          28.5Other
      receivables
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          64.5
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          77.1Total
                                                                                                                                          
                                                                                                                                          $
                                                                                                                                          160.9
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          $
                                                                                                                                          161.6Great
      Plains EnergyCustomer
      accounts receivable - billed
                                                                                                                                          
                                                                                                                                          $
                                                                                                                                          58.8
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          $
                                                                                                                                          61.3Customer
      accounts receivable - unbilled
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          95.8
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          69.9Allowance
      for doubtful accounts
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          (4.4
                                                                                                                                          )
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          (3.5
                                                                                                                                          )Other
      receivables
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          89.4
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          114.6Total
                                                                                                                                          
                                                                                                                                          $
                                                                                                                                          239.6
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          $
                                                                                                                                          242.3
 Great
Plains Energy’s and KCP&L’s other receivables at June 30, 2009, and December
31, 2008, consisted primarily of receivables from partners in jointly owned
electric utility plants and wholesale sales receivables.
 21
 Sale
of Accounts Receivable – KCP&L
 KCP&L
sells all of its retail electric accounts receivable to its wholly owned
subsidiary, Receivables Company, which in turn sells an undivided percentage
ownership interest in the accounts receivable to Victory Receivables
Corporation, an independent outside investor.  In accordance with SFAS
No. 140, “Accounting for Transfers and Servicing of Financial Assets and
Extinguishment of Liabilities,” the sales under these agreements qualify as a
sale under which the creditors of Receivables Company are entitled to be
satisfied out of the assets of Receivables Company prior to any value being
returned to KCP&L or its creditors.  Accounts receivable sold by
Receivables Company to the outside investor under this revolving agreement
totaled $70.0 million at June 30, 2009 and 2008.  KCP&L sells its
receivables at a fixed price based upon the expected cost of funds and
charge-offs.  These costs comprise KCP&L’s loss on the sale of
accounts receivable.  KCP&L services the receivables and receives
an annual servicing fee of 2.5% of the outstanding principal amount of the
receivables sold to Receivables Company.  KCP&L does not recognize
a servicing asset or liability because management determined the collection
agent fee earned by KCP&L approximates market value.  The
agreement was extended in July 2009 and expires in July 2010.
  Information
regarding KCP&L’s sale of accounts receivable to Receivables Company is
reflected in the following tables.
 Receivables
                                                                                                                            ConsolidatedThree
      Months Ended June 30, 2009
                                                                                                                            
                                                                                                                            KCP&L
                                                                                                                            
                                                                                                                            Company
                                                                                                                            KCP&L(millions)Receivables
      (sold) purchased
                                                                                                                            
                                                                                                                            $
                                                                                                                            (289.6
                                                                                                                            )
                                                                                                                            
                                                                                                                            $
                                                                                                                            289.6
                                                                                                                            
                                                                                                                            
                                                                                                                            $
                                                                                                                            -Gain
      (loss) on sale of accounts receivable (a)
                                                                                                                            
                                                                                                                            
                                                                                                                            (3.7
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            3.2
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.5
                                                                                                                            )Servicing
      fees
                                                                                                                            
                                                                                                                            
                                                                                                                            0.8
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.8
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            -Fees
      to outside investor
                                                                                                                            
                                                                                                                            
                                                                                                                            -
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.2
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.2
                                                                                                                            )Cash
      flows during the periodCash
      from customers transferred to Receivables Company
                                                                                                                            
                                                                                                                            
                                                                                                                            (253.8
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            253.8
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            -Cash
      paid to KCP&L for receivables purchased
                                                                                                                            
                                                                                                                            
                                                                                                                            250.6
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (250.6
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            -Servicing
      fees
                                                                                                                            
                                                                                                                            
                                                                                                                            0.8
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.8
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            -Interest
      on intercompany note
                                                                                                                            
                                                                                                                            
                                                                                                                            0.1
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.1
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            -
 Receivables
                                                                                                                            ConsolidatedYear
      to Date June 30, 2009
                                                                                                                            
                                                                                                                            KCP&L
                                                                                                                            
                                                                                                                            Company
                                                                                                                            KCP&L(millions)Receivables
      (sold) purchased
                                                                                                                            
                                                                                                                            $
                                                                                                                            (537.8
                                                                                                                            )
                                                                                                                            
                                                                                                                            $
                                                                                                                            537.8
                                                                                                                            
                                                                                                                            
                                                                                                                            $
                                                                                                                            -Gain
      (loss) on sale of accounts receivable (a)
                                                                                                                            
                                                                                                                            
                                                                                                                            (6.8
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            6.6
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.2
                                                                                                                            )Servicing
      fees
                                                                                                                            
                                                                                                                            
                                                                                                                            1.5
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (1.5
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            -Fees
      to outside investor
                                                                                                                            
                                                                                                                            
                                                                                                                            -
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.5
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.5
                                                                                                                            )Cash
      flows during the periodCash
      from customers transferred to Receivables Company
                                                                                                                            
                                                                                                                            
                                                                                                                            (527.8
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            527.8
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            -Cash
      paid to KCP&L for receivables purchased
                                                                                                                            
                                                                                                                            
                                                                                                                            521.2
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (521.2
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            -Servicing
      fees
                                                                                                                            
                                                                                                                            
                                                                                                                            1.5
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (1.5
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            -Interest
      on intercompany note
                                                                                                                            
                                                                                                                            
                                                                                                                            0.2
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.2
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            - 22
 Receivables
                                                                                                                          ConsolidatedThree
      Months Ended June 30, 2008
                                                                                                                          
                                                                                                                          KCP&L
                                                                                                                          
                                                                                                                          Company
                                                                                                                          KCP&L(millions)Receivables
      (sold) purchased
                                                                                                                          
                                                                                                                          $
                                                                                                                          (276.6
                                                                                                                          )
                                                                                                                          
                                                                                                                          $
                                                                                                                          276.6
                                                                                                                          
                                                                                                                          
                                                                                                                          $
                                                                                                                          -Gain
      (loss) on sale of accounts receivable (a)
                                                                                                                          
                                                                                                                          
                                                                                                                          (3.5
                                                                                                                          )
                                                                                                                          
                                                                                                                          
                                                                                                                          3.2
                                                                                                                          
                                                                                                                          
                                                                                                                          
                                                                                                                          (0.3
                                                                                                                          )Servicing
      fees
                                                                                                                          
                                                                                                                          
                                                                                                                          0.7
                                                                                                                          
                                                                                                                          
                                                                                                                          
                                                                                                                          (0.7
                                                                                                                          )
                                                                                                                          
                                                                                                                          
                                                                                                                          -Fees
      to outside investor
                                                                                                                          
                                                                                                                          
                                                                                                                          -
                                                                                                                          
                                                                                                                          
                                                                                                                          
                                                                                                                          (0.5
                                                                                                                          )
                                                                                                                          
                                                                                                                          
                                                                                                                          (0.5
                                                                                                                          )Cash
      flows during the periodCash
      from customers transferred to Receivables Company
                                                                                                                          
                                                                                                                          
                                                                                                                          (252.1
                                                                                                                          )
                                                                                                                          
                                                                                                                          
                                                                                                                          252.1
                                                                                                                          
                                                                                                                          
                                                                                                                          
                                                                                                                          -Cash
      paid to KCP&L for receivables purchased
                                                                                                                          
                                                                                                                          
                                                                                                                          249.0
                                                                                                                          
                                                                                                                          
                                                                                                                          
                                                                                                                          (249.0
                                                                                                                          )
                                                                                                                          
                                                                                                                          
                                                                                                                          -Servicing
      fees
                                                                                                                          
                                                                                                                          
                                                                                                                          0.7
                                                                                                                          
                                                                                                                          
                                                                                                                          
                                                                                                                          (0.7
                                                                                                                          )
                                                                                                                          
                                                                                                                          
                                                                                                                          -Interest
      on intercompany note
                                                                                                                          
                                                                                                                          
                                                                                                                          0.4
                                                                                                                          
                                                                                                                          
                                                                                                                          
                                                                                                                          (0.4
                                                                                                                          )
                                                                                                                          
                                                                                                                          
                                                                                                                          -
 Receivables
                                                                                                                                                                                        ConsolidatedYear
      to Date June 30, 2008
                                                                                                                                                                                        
                                                                                                                                                                                        KCP&L
                                                                                                                                                                                        
                                                                                                                                                                                        Company
                                                                                                                                                                                        KCP&L(millions)Receivables
      (sold) purchased
                                                                                                                                                                                        
                                                                                                                                                                                        $
                                                                                                                                                                                        (523.6
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        $
                                                                                                                                                                                        523.6
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        $
                                                                                                                                                                                        -Gain
      (loss) on sale of accounts receivable (a)
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (6.6
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        6.4
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (0.2
                                                                                                                                                                                        )Servicing
      fees
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        1.4
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (1.4
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        -Fees
      to outside investor
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        -
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (1.3
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (1.3
                                                                                                                                                                                        )Cash
      flows during the periodCash
      from customers transferred to Receivables Company
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (510.1
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        510.1
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        -Cash
      paid to KCP&L for receivables purchased
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        503.7
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (503.7
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        -Servicing
      fees
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        1.4
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (1.4
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        -Interest
      on intercompany note
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        0.8
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        (0.8
                                                                                                                                                                                        )
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                                                                                        -(a)
      Any
      net gain (loss) is the result of the timing difference inherent in
      collecting receivables andover
      the life of the agreement will net to
zero.
 
 5.
                                                              ASSETS
      HELD FOR SALE
  On July
14, 2008, Great Plains Energy closed its acquisition of GMO.  GMO has
several real estate properties that will not be used.  As a result,
these real estate properties are available for immediate sale in their present
condition and management is actively marketing these properties.  The
carrying amounts for these assets are presented at fair value less estimated
selling cost and are included in assets held for sale on Great Plains Energy’s
balance sheet.  Of the $16.8 million of assets held for sale at June
30, 2009, $12.4 million is included in the electric utility segment and the
remaining $4.4 million is included in the other category.
 
 6.
                                                              NUCLEAR
      PLANT
  KCP&L
owns 47% of Wolf Creek, its only nuclear generating unit.  Wolf Creek
is regulated by the Nuclear Regulatory Commission (NRC), with respect to
licensing, operations and safety-related requirements.
  Spent
Nuclear Fuel and High-Level Radioactive Waste
 Under the
Nuclear Waste Policy Act of 1982, the Department of Energy (DOE) is responsible
for the permanent disposal of spent nuclear fuel.  KCP&L pays the
DOE a quarterly fee of one-tenth of a cent for each kWh of net nuclear
generation delivered and sold for the future disposal of spent nuclear
fuel.  These disposal costs are charged to fuel expense.  On
June 3, 2008, the DOE filed with the NRC an application for authority to
construct a national repository for the disposal of spent nuclear fuel and
high-level radioactive waste at Yucca Mountain, Nevada.  On September 8,
2008, the NRC found the application sufficiently complete to undergo a technical
 23
 licensing
review and therefore docketed the application and its investigation of the
application is underway.  However, comments from the new DOE Secretary
indicate that the administration does not want to proceed with Yucca
Mountain.  Congress is considering a fiscal 2010 budget that would
limit funding for Yucca Mountain to those costs necessary to answer inquiries
from the NRC while the administration devises a new strategy for addressing
nuclear waste disposal and funding could cease in fiscal year 2011, except for
funds needed to close the site.  Wolf Creek has an on-site storage
facility designed to hold all spent fuel generated at the plant through 2025,
and believes it will be able to expand on-site storage as needed past
2025.  Management cannot predict when, or if, Yucca Mountain or an
alternative disposal site will be available to receive Wolf Creek’s spent
nuclear fuel and will continue to monitor this activity.  See Note 14
for a related legal proceeding.
  Low-Level
Radioactive Waste
 Wolf
Creek disposes of most of its low-level radioactive waste (Class A waste) at an
existing third-party repository in Utah.  Wolf Creek previously
disposed of the remainder of its low-level radioactive waste (Class B and Class
C waste, which is higher in radioactivity but much lower in volume) at a
disposal site in Barnwell, South Carolina.  However, effective July 1,
2008, the state of South Carolina no longer accepts low-level radioactive waste
at Barnwell, except for waste from generators located in South Carolina,
Connecticut, and New Jersey.  Wolf Creek has storage capacity on site
for about four years generation of Class B and Class C
waste.   Management expects that the site located in Utah will
remain available to Wolf Creek for disposal of its Class A
waste.  Should disposal capability become unavailable, management
believes Wolf Creek will be able to store its low-level radioactive waste in an
on-site facility and that a temporary loss of low-level radioactive waste
disposal capability would not affect Wolf Creek’s continued
operation.
  7.
                                                              REGULATORY
      MATTERS
  Regulatory
Proceedings
 In
September 2008, KCP&L filed a request with the MPSC for an annual rate
increase of $101.5 million, with $15.1 million of that amount treated for
accounting purposes as additional amortization.  On June 10, 2009, the
MPSC issued its order approving in its entirety a stipulation and agreement
between KCP&L and other parties to KCP&L’s rate case before the
MPSC.  The stipulation and agreement provides for, among other things,
an increase in annual revenues of $95 million effective September 1, 2009, with
$10 million of that amount treated for accounting purposes as additional
amortization.  Parties may challenge the prudence of the cost of the
Iatan Unit No. 1 environmental project and the cost of facilities used in common
by Iatan Units No. 1 and No. 2 in KCP&L’s next rate case, but the Missouri
jurisdictional portion of any proposed rate base prudence disallowances will not
exceed $30 million in aggregate.
  In
September 2008, GMO filed a request with the MPSC for an annual electric rate
increase of $83.1 million ($66.0 million for GMO’s Missouri Public Service (MPS)
jurisdiction, and $17.1 million for GMO’s St. Joseph Light and Power (L&P)
jurisdiction).  On June 10, 2009, the MPSC issued its order approving
in its entirety a stipulation and agreement between GMO and other parties to
GMO’s electric rate case before the MPSC.  The stipulation and
agreement provides for, among other things, an increase in annual revenues of
$63 million ($48 million for GMO’s MPS jurisdiction, and $15 million for GMO’s
L&P jurisdiction) effective September 1, 2009.  Parties may challenge
the prudence of the cost of the Iatan Unit No. 1 environmental project and the
cost of facilities used in common by Iatan Units No. 1 and No. 2 in GMO’s next
rate case, but the GMO portion of any proposed rate base prudence disallowances
will not exceed $15 million in aggregate.  The order also continues the GMO
MPS and L&P Fuel Adjustment Clauses (FACs).
  In
September 2008, GMO filed a request with the MPSC for an annual steam rate
increase of $1.3 million.  On June 10, 2009, the MPSC issued its order
approving in its entirety a stipulation and agreement between GMO and other
parties to GMO’s steam rate case before the MPSC.  The stipulation and
agreement provides for an increase in annual revenues of approximately $1
million, effective July 1, 2009. The order allows for the Quarterly Cost
Adjustment (QCA) fuel sharing mechanism to be established at 85% above
the fuel cost included in base rates.  The previous sharing
mechanism was set at 80% above the fuel cost included
in base rates.
 24
 In
September 2008, KCP&L filed a request with KCC for an annual rate increase
of $71.6 million, with $11.2 million of that amount treated for accounting
purposes as additional amortization.  On July 24, 2009, KCC issued its
order approving in its entirety a stipulation and agreement between KCP&L
and other parties to KCP&L’s rate case before KCC.  The
stipulation and agreement provides for, among other things, an increase in
annual revenues of $59 million effective August 1, 2009, with $18 million of
that amount treated for accounting purposes as additional
amortization.  Parties may challenge the prudence of the cost of the
Iatan Unit No. 1 environmental project and the costs of facilities used in
common by Iatan Units No. 1 and No. 2 in KCP&L’s next rate case, but the
Kansas jurisdictional portion of any proposed rate base prudence disallowances
will not exceed (i) $4.7 million for costs paid or approved for payment as of
April 30, 2009 and in-service as of July 4, 2009, and (ii) $2.8 million for the
first $56 million of costs not paid or approved for payment as of April 30,
2009.  There is no cap as to the amount of disallowances that may be
proposed for costs above this $56 million amount.
  KCP&L’s
Comprehensive Energy Plan and Collaboration Agreement
 In the
first quarter of 2009, KCP&L completed construction of the Iatan No. 1
environmental project and certain Iatan common facilities.  A
scheduled outage at Iatan No. 1 began in mid-October 2008 for a unit overhaul
and to tie in the environmental equipment.  Iatan No. 1 was originally
scheduled to be back on-line in February 2009, but, during start-up, a high
level of turbine vibration was experienced.  The turbine was repaired
and Iatan No. 1 came back on-line in April 2009.  KCP&L continues
to make progress on the construction of Iatan No. 2.  During the
second quarter of 2009, KCP&L completed a cost and schedule reforecast for
the Iatan No. 2 project.  The anticipated in-service date for Iatan
No. 2 is late summer of 2010.  The following table summarizes the
current cost estimates for Iatan No. 2, exclusive of AFUDC and any costs for
Iatan Common facilities that will be used by both Iatan No. 1 and Iatan No.
2.  The cost estimates for Iatan Common facilities are unchanged from
the amounts disclosed in the 2008 Form 10-K.
 Current
      Estimate
                                                                        
                                                                        Previous
      EstimateRange
                                                                        
                                                                        Range
                                                                        
                                                                        Change(millions)KCP&L's
      55% share of Iatan No. 2
                                                                        
                                                                        $    868
                                                                        -
                                                                        $    904
                                                                        
                                                                        $    847
                                                                        -
                                                                        $    904
                                                                        
                                                                        $      21
                                                                        -
                                                                        $        -Great
      Plains Energy's 73% share of Iatan No. 2
                                                                        
                                                                        1,153
                                                                        -
                                                                        1,201
                                                                        
                                                                        1,125
                                                                        -
                                                                        1,201
                                                                        
                                                                        28
                                                                        -
                                                                        -
 In March
2007, KCP&L, the Sierra Club and the Concerned Citizens of Platte County
entered into a Collaboration Agreement.  KCP&L agreed in the
Collaboration Agreement to pursue increasing its wind generation capacity by
100MW by the end of 2010.  In 2008, KCP&L entered into agreements
to acquire 100MW of wind generation for approximately $215 million, and
subsequently provided notice to terminate the contract and began discussions
with the developer to explore alternatives.  KCP&L entered into
new agreements with the developer in February 2009.  The developer
assigned to KCP&L its contract with the wind turbine manufacturer to
purchase thirty-two turbines for a purchase price of approximately $68 million,
plus approximately $17 million to be paid by KCP&L to the developer for
various third party development and assignment costs.  KCP&L’s
deposit of approximately $42 million under the original, terminated agreement
was applied to the purchase price.  KCP&L and the developer also
entered into an agreement for the construction of a thirty-five turbine project,
with a May 31, 2010, estimated project completion date, for an approximate price
of $118 million.  KCP&L has an absolute and unconditional option
to terminate the agreement on or before September 30, 2009, for an upfront
payment of $7.5 million, which will be applied to the price if the option is not
exercised by KCP&L.  If KCP&L exercises the option, the $7.5
million payment would be expensed.  In April 2009, KCP&L entered
into a conditional 100 MW wind power
purchase agreement (PPA) with purchases expected to begin in January
2010.  The agreement is conditioned on the third party
obtaining acceptable project financing, KCP&L selling the wind turbines
and land to the third party at the price KCP&L has paid for those assets,
and the third party entering into acceptable project construction
agreements, among other conditions.  If all conditions are not
satisfied by September 1, 2009, the PPA is terminable at no cost to
KCP&L.  There are no assurances that these conditions will be
satisfied.  Also in the Collaboration Agreement, KCP&L agreed to
pursue an additional 300MW of wind generation capacity by the end of 2012,
subject to regulatory approval.
 25
 KCP&L
agreed in the Collaboration Agreement to pursue other initiatives, including
energy efficiency, designed to offset CO2
emissions.  KCP&L and GMO are also evaluating energy efficiency
projects as one of the elements to meet future customer energy
needs.  A new Missouri law will take effect in August 2009, requiring
the MPSC to allow electric utilities to recover the costs of approved energy
efficiency programs that result in energy savings.  The MPSC will
develop implementing rules, including cost recovery mechanisms.  Until
these rules are developed, and programs are approved, the effects on KCP&L
and GMO plans and future results cannot be reasonably
estimated.  However, management views this law as a positive
development in establishing a regulatory framework for energy efficiency
programs and potentially allowing energy efficiency costs to be recovered
through rates similar to the recovery of generation resource
costs.
  GMO
Missouri 2007 Rate Case Appeal
 Appeals
of the May 2007 MPSC order approving an approximate $59 million increase in
annual revenues were filed in July and August of 2007 with the Circuit Court of
Cole County, Missouri, by the Office of Public Counsel, AG Processing, Sedalia
Industrial Energy Users’ Association and AARP seeking to set aside or remand the
order of the MPSC.  In February 2009, the Circuit Court affirmed the
MPSC order.  This decision was appealed.  The order remains
in effect unless reversed by the courts.
  GMO
RTO Application
 GMO’s
application to transfer functional control of its transmission system to the
Midwest Independent Transmission System Operator, Inc. (MISO) Regional
Transmission Organization (RTO) was denied by the MPSC in October
2008.  In December 2008, GMO submitted a request to FERC to withdraw
from MISO based on this MPSC denial.  GMO and MISO negotiated an
agreement regarding this exit under which GMO would pay an insignificant amount
of exit fees to MISO.  This agreement was approved by FERC in May
2009.
  In
November 2008, GMO requested MPSC authorization to transfer functional control
of its transmission system to the Southwest Power Pool, Inc.
(SPP).  On February 4, 2009, the MPSC approved a Stipulation and
Agreement between GMO and several parties authorizing the transfer of functional
control.
  Great
Plains Energy’s Acquisition of GMO
 See Note
2 for a discussion of the pending appeals of the MPSC order authorizing the
acquisition.
 26
 
 Regulatory
Assets and Liabilities
 Great
Plains Energy’s and KCP&L’s regulatory assets and liabilities are detailed
in the following tables.
 GreatJune
      30, 2009
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        KCP&L
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        GMO
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        Plains
      EnergyRegulatory
      Assets
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (millions)Taxes
      recoverable through future rates
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        $
                                                                                                                                                                                                                        68.9
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        $
                                                                                                                                                                                                                        20.3
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (a)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        $
                                                                                                                                                                                                                        89.2Loss
      on reacquired debt
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        5.5
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (b)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        0.3
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (b)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        5.8Cost
      of removal
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        8.9
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        -
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        8.9Asset
      retirement obligations
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        22.9
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        12.1
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        35.0SFAS
      No. 158 pension and post-retirement costs
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        332.8
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (c)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        -
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        332.8Other
      pension and post-retirement costs
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        89.9
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (d)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        60.1
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (d)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        150.0Deferred
      customer programs
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        28.1
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (e)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        2.9
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        31.0Rate
      case expenses
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        4.8
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (f)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        0.9
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (f)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        5.7Skill
      set realignment costs
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        6.8
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (g)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        -
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        6.8Under-recovery
      of energy costs
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        2.7
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (h)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        47.6
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (h)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        50.3Acquisition
      transition costs
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        28.3
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        21.2
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        49.5St.
      Joseph Light & Power acquisition
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        -
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        3.3
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (h)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        3.3Storm
      damage
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        -
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        5.6
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (h)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        5.6Derivative
      instruments
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        -
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        14.5
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (h)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        14.5Other
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        6.9
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (i)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        3.2
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (i)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        10.1Total
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        $
                                                                                                                                                                                                                        606.5
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        $
                                                                                                                                                                                                                        192.0
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        $
                                                                                                                                                                                                                        798.5Regulatory
      LiabilitiesEmission
      allowances
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        $
                                                                                                                                                                                                                        86.4
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        $
                                                                                                                                                                                                                        0.9
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        $
                                                                                                                                                                                                                        87.3Asset
      retirement obligations
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        23.7
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        -
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        23.7Pension
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        -
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        22.5
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        22.5Cost
      of removal
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        -
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        61.4
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        (j)
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        61.4Other
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        6.3
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        10.6
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        16.9Total
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        $
                                                                                                                                                                                                                        116.4
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        $
                                                                                                                                                                                                                        95.4
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        
                                                                                                                                                                                                                        $
                                                                                                                                                                                                                        211.8
 (a)
                                                              In
      GMO’s most recent rate case, GMO agreed not to seek recovery of the
      regulatory asset for previously flowed-through tax benefits on cost of
      removal timing deductions, which resulted in GMO recording a $28.9 million
      decrease in the regulatory asset, offset by deferred taxes of $11.1
      million and goodwill of $17.8
million.
 (b)
                                                              Amortized
      over the life of the related new debt issuances or the remaining lives of
      the old debt issuances if no new debt was
  issued.
 (c)
                                                              KCP&L’s
      regulatory asset for SFAS No. 158, “Employers’ Accounting for Defined
      Benefit Pension and Other Postretirement Plans,” pension and
      post-retirement costs at June 30, 2009, is more than offset by related
      liabilities, not included in rate
  base.
 (d)
                                                              KCP&L’s
      regulatory asset for other pension and post-retirement costs at June 30,
      2009, includes $68.8 million representing pension settlements and
      financial and regulatory accounting method differences not included in
      rate base.  The pension settlements, totaling $8.7 million, are
      being amortized over a five-year period, which began January 1,
      2008.  The accounting method difference will be eliminated over
      the life of the pension plans.  GMO’s regulatory asset for other
      pension and post-retirement costs at June 30, 2009, includes $54.7 million
      representing financial and regulatory accounting method differences and
      SFAS No. 158 pension and post-retirement costs not included in rate base
      that will be eliminated over the life of the pension
  plans.
 (e)
                                                              $10.0
      million not included in rate base.
 (f)
                                                              $4.6
      million at KCP&L and $0.9 million at GMO not included in rate base and
      amortized over various periods.
 (g)
                                                              $3.4
      million not included in rate base and amortized through
    2017.
 (h)
                                                              Not
      included in rate base.
 27
 (i)
                                                              Certain
      insignificant items are not included in rate base and amortized over
      various periods.
 (j)
                                                              Estimated
      cumulative net provision for future removal
  costs.
 GreatDecember
      31, 2008
                                                                                    
                                                                                    KCP&L
                                                                                    
                                                                                    
                                                                                    GMO
                                                                                    
                                                                                    Plains
      EnergyRegulatory
      Assets
                                                                                    
                                                                                    (millions)Taxes
      recoverable through future rates
                                                                                    
                                                                                    $
                                                                                    71.6
                                                                                    
                                                                                    
                                                                                    $
                                                                                    46.8
                                                                                    
                                                                                    
                                                                                    $
                                                                                    118.4Loss
      on reacquired debt
                                                                                    
                                                                                    
                                                                                    5.7
                                                                                    
                                                                                    
                                                                                    
                                                                                    0.3
                                                                                    
                                                                                    
                                                                                    
                                                                                    6.0Cost
      of removal
                                                                                    
                                                                                    
                                                                                    9.6
                                                                                    
                                                                                    
                                                                                    
                                                                                    -
                                                                                    
                                                                                    
                                                                                    
                                                                                    9.6Asset
      retirement obligations
                                                                                    
                                                                                    
                                                                                    21.1
                                                                                    
                                                                                    
                                                                                    
                                                                                    12.0
                                                                                    
                                                                                    
                                                                                    
                                                                                    33.1SFAS
      No. 158 pension and post-retirement costs
                                                                                    
                                                                                    
                                                                                    355.8
                                                                                    
                                                                                    
                                                                                    
                                                                                    -
                                                                                    
                                                                                    
                                                                                    
                                                                                    355.8Other
      pension and post-retirement costs
                                                                                    
                                                                                    
                                                                                    79.8
                                                                                    
                                                                                    
                                                                                    
                                                                                    63.0
                                                                                    
                                                                                    
                                                                                    
                                                                                    142.8Deferred
      customer programs
                                                                                    
                                                                                    
                                                                                    22.6
                                                                                    
                                                                                    
                                                                                    
                                                                                    0.4
                                                                                    
                                                                                    
                                                                                    
                                                                                    23.0Rate
      case expenses
                                                                                    
                                                                                    
                                                                                    2.9
                                                                                    
                                                                                    
                                                                                    
                                                                                    0.6
                                                                                    
                                                                                    
                                                                                    
                                                                                    3.5Skill
      set realignment costs
                                                                                    
                                                                                    
                                                                                    7.5
                                                                                    
                                                                                    
                                                                                    
                                                                                    -
                                                                                    
                                                                                    
                                                                                    
                                                                                    7.5Under-recovery
      of energy costs
                                                                                    
                                                                                    
                                                                                    1.6
                                                                                    
                                                                                    
                                                                                    
                                                                                    52.0
                                                                                    
                                                                                    
                                                                                    
                                                                                    53.6Acquisition
      transition costs
                                                                                    
                                                                                    
                                                                                    25.5
                                                                                    
                                                                                    
                                                                                    
                                                                                    17.6
                                                                                    
                                                                                    
                                                                                    
                                                                                    43.1St.
      Joseph Light & Power acquisition
                                                                                    
                                                                                    
                                                                                    -
                                                                                    
                                                                                    
                                                                                    
                                                                                    3.6
                                                                                    
                                                                                    
                                                                                    
                                                                                    3.6Storm
      damage
                                                                                    
                                                                                    
                                                                                    -
                                                                                    
                                                                                    
                                                                                    
                                                                                    6.4
                                                                                    
                                                                                    
                                                                                    
                                                                                    6.4Derivative
      instruments
                                                                                    
                                                                                    
                                                                                    -
                                                                                    
                                                                                    
                                                                                    
                                                                                    9.7
                                                                                    
                                                                                    
                                                                                    
                                                                                    9.7Other
                                                                                    
                                                                                    
                                                                                    5.4
                                                                                    
                                                                                    
                                                                                    
                                                                                    3.3
                                                                                    
                                                                                    
                                                                                    
                                                                                    8.7Total
                                                                                    
                                                                                    $
                                                                                    609.1
                                                                                    
                                                                                    
                                                                                    $
                                                                                    215.7
                                                                                    
                                                                                    
                                                                                    $
                                                                                    824.8Regulatory
      LiabilitiesEmission
      allowances
                                                                                    
                                                                                    $
                                                                                    86.5
                                                                                    
                                                                                    
                                                                                    $
                                                                                    1.0
                                                                                    
                                                                                    
                                                                                    $
                                                                                    87.5Asset
      retirement obligations
                                                                                    
                                                                                    
                                                                                    22.7
                                                                                    
                                                                                    
                                                                                    
                                                                                    -
                                                                                    
                                                                                    
                                                                                    
                                                                                    22.7Pension
                                                                                    
                                                                                    
                                                                                    -
                                                                                    
                                                                                    
                                                                                    
                                                                                    25.0
                                                                                    
                                                                                    
                                                                                    
                                                                                    25.0Cost
      of removal
                                                                                    
                                                                                    
                                                                                    -
                                                                                    
                                                                                    
                                                                                    
                                                                                    58.1
                                                                                    
                                                                                    
                                                                                    
                                                                                    58.1Other
                                                                                    
                                                                                    
                                                                                    6.6
                                                                                    
                                                                                    
                                                                                    
                                                                                    9.5
                                                                                    
                                                                                    
                                                                                    
                                                                                    16.1Total
                                                                                    
                                                                                    $
                                                                                    115.8
                                                                                    
                                                                                    
                                                                                    $
                                                                                    93.6
                                                                                    
                                                                                    
                                                                                    $
                                                                                    209.4
 8.
                                                              PENSION
      PLANS AND OTHER EMPLOYEE BENEFITS
  The
Company maintains defined benefit pension plans for substantially all active and
inactive employees, including officers, of KCP&L, GMO, and Wolf Creek
Nuclear Operating Corporation (WCNOC) and incurs significant costs in providing
the plans.  Pension benefits under these plans reflect the employees’
compensation, years of service and age at retirement.
  KCP&L
and GMO record pension expense in accordance with rate orders from the MPSC and
KCC that allow the difference between pension costs under SFAS No. 87,
“Employers’ Accounting for Pensions,” and SFAS No. 88, “Employers’ Accounting
for Settlements and Curtailments of Defined Benefit Pension Plans and for
Termination Benefits,” and pension costs for ratemaking to be recognized as a
regulatory asset or liability.  This difference between financial and
regulatory accounting methods will be eliminated over the life of the pension
plans.
  In
addition to providing pension benefits, the Company provides certain
post-retirement health care and life insurance benefits for substantially all
retired employees of KCP&L, GMO, and WCNOC.  The cost of
post-retirement benefits charged to KCP&L and GMO are accrued during an
employee's years of service and recovered through rates.
  As part
of the GMO acquisition in July 2008, Black Hills assumed the accrued pension
obligations owed to former employees of the electric and gas utility operations
Black Hills acquired.  Following the July 2008 close, approximately
$107.5 million of qualified benefit plan assets were transferred by GMO to a
comparable plan
 28
 established
by Black Hills.  In April 2009, the final plan asset transfer was
completed with $2.0 million transferred from the GMO plan to the Black Hills
plan.
  The
following tables provide the components of net periodic benefit costs prior to
the effects of capitalization and sharing with joint-owners of power
plants.
  Great
      Plains EnergyPension
      Benefits
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            Other
      BenefitsThree
      Months Ended June 30
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            2009
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            2008
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            2009
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            2008Components
      of net periodic benefit costs
                                                                                                                                                                                                                                                                                                                            (millions)Service
      cost
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                            7.2
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                            4.5
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                            1.0
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                            0.4Interest
      cost
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            11.8
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            7.9
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            2.1
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            1.1Expected
      return on plan assets
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            (8.0
                                                                                                                                                                                                                                                                                                                            )
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            (8.1
                                                                                                                                                                                                                                                                                                                            )
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            (0.4
                                                                                                                                                                                                                                                                                                                            )
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            (0.2
                                                                                                                                                                                                                                                                                                                            )Prior
      service cost
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            1.0
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            1.1
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            2.3
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            0.7Recognized
      net actuarial loss
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            9.1
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            8.0
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            (0.3
                                                                                                                                                                                                                                                                                                                            )
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            0.2Transition
      obligation
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            0.4
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            0.3Settlement
      charge
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            0.1
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            -Net
      periodic benefit costs beforeregulatory
      adjustment
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            21.2
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            13.4
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            5.1
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            2.5Regulatory
      adjustment
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            (9.2
                                                                                                                                                                                                                                                                                                                            )
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            (1.1
                                                                                                                                                                                                                                                                                                                            )
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            (0.2
                                                                                                                                                                                                                                                                                                                            )
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            -Net
      periodic benefit costs
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                            12.0
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                            12.3
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                            4.9
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                            2.5
 Great
      Plains EnergyPension
      Benefits
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              Other
      BenefitsYear
      to Date June 30
                                                                                                                                                              
                                                                                                                                                              2009
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              2008
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              2009
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              2008Components
      of net periodic benefit costs
                                                                                                                                                              (millions)Service
      cost
                                                                                                                                                              
                                                                                                                                                              $
                                                                                                                                                              14.5
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              $
                                                                                                                                                              9.0
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              $
                                                                                                                                                              2.0
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              $
                                                                                                                                                              0.8Interest
      cost
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              23.6
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              15.9
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              4.2
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              2.2Expected
      return on plan assets
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              (16.0
                                                                                                                                                              )
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              (16.1
                                                                                                                                                              )
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              (0.8
                                                                                                                                                              )
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              (0.4
                                                                                                                                                              )Prior
      service cost
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              2.0
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              2.1
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              3.3
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              1.4Recognized
      net actuarial loss
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              18.2
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              16.1
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              (0.2
                                                                                                                                                              )
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              0.3Transition
      obligation
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              -
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              -
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              0.7
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              0.6Settlement
      charge
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              0.1
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              -
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              -
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              -Net
      periodic benefit costs beforeregulatory
      adjustment
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              42.4
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              27.0
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              9.2
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              4.9Regulatory
      adjustment
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              (13.1
                                                                                                                                                              )
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              (2.3
                                                                                                                                                              )
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              (0.2
                                                                                                                                                              )
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              -Net
      periodic benefit costs
                                                                                                                                                              
                                                                                                                                                              $
                                                                                                                                                              29.3
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              $
                                                                                                                                                              24.7
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              $
                                                                                                                                                              9.0
                                                                                                                                                              
                                                                                                                                                              
                                                                                                                                                              $
                                                                                                                                                              4.9 29
 KCP&LPension
      Benefits
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            Other
      BenefitsThree
      Months Ended June 30
                                                                                                                                                            
                                                                                                                                                            2009
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            2008
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            2009
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            2008Components
      of net periodic benefit costs
                                                                                                                                                            (millions)Service
      cost
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            7.2
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            4.4
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            0.7
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            0.4Interest
      cost
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            11.5
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            7.8
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            1.4
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            1.1Expected
      return on plan assets
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            (8.0
                                                                                                                                                            )
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            (7.9
                                                                                                                                                            )
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            (0.3
                                                                                                                                                            )
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            (0.2
                                                                                                                                                            )Prior
      service cost
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            1.0
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            1.0
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            0.7
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            0.7Recognized
      net actuarial loss
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            9.1
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            8.0
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            -
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            0.1Transition
      obligation
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            -
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            -
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            0.2
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            0.3Net
      periodic benefit costs beforeregulatory
      adjustment
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            20.8
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            13.3
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            2.7
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            2.4Regulatory
      adjustment
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            (8.4
                                                                                                                                                            )
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            (1.1
                                                                                                                                                            )
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            -
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            -Net
      periodic benefit costs
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            12.4
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            12.2
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            2.7
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            2.4
 KCP&LPension
      Benefits
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            Other
      BenefitsYear
      to Date June 30
                                                                                                                                                            
                                                                                                                                                            2009
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            2008
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            2009
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            2008Components
      of net periodic benefit costs
                                                                                                                                                            (millions)Service
      cost
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            13.5
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            8.9
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            1.5
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            0.8Interest
      cost
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            21.5
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            15.7
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            3.1
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            2.2Expected
      return on plan assets
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            (14.9
                                                                                                                                                            )
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            (15.9
                                                                                                                                                            )
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            (0.6
                                                                                                                                                            )
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            (0.4
                                                                                                                                                            )Prior
      service cost
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            1.9
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            2.0
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            1.5
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            1.4Recognized
      net actuarial loss
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            16.9
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            16.0
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            0.1
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            0.2Transition
      obligation
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            -
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            -
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            0.4
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            0.6Net
      periodic benefit costs beforeregulatory
      adjustment
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            38.9
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            26.7
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            6.0
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            4.8Regulatory
      adjustment
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            (14.1
                                                                                                                                                            )
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            (2.3
                                                                                                                                                            )
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            -
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            -Net
      periodic benefit costs
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            24.8
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            24.4
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            6.0
                                                                                                                                                            
                                                                                                                                                            
                                                                                                                                                            $
                                                                                                                                                            4.8
 9.
                                                              EQUITY
      COMPENSATION
  Great
Plains Energy’s Long-Term Incentive Plan is an equity compensation plan approved
by Great Plains Energy’s shareholders.  The Long-Term Incentive Plan
permits the grant of restricted stock, stock options, limited stock appreciation
rights, director shares, director deferred share units and performance shares to
directors, officers and other employees of Great Plains Energy and
KCP&L.  Forfeiture rates are based on historical forfeitures and
future expectations and are reevaluated annually.  The following table
summarizes Great Plains Energy’s and KCP&L’s equity compensation expense and
associated income tax benefits.
 Three
      Months Ended
                                                                                            
                                                                                            Year
      to DateJune
      30
                                                                                            
                                                                                            June
      302009
                                                                                            
                                                                                            
                                                                                            2008
                                                                                            
                                                                                            
                                                                                            2009
                                                                                            
                                                                                            
                                                                                            2008Great
      Plains Energy
                                                                                            
                                                                                            (millions)Compensation
      expense
                                                                                            
                                                                                            $
                                                                                            0.7
                                                                                            
                                                                                            
                                                                                            $
                                                                                            2.6
                                                                                            
                                                                                            
                                                                                            $
                                                                                            2.5
                                                                                            
                                                                                            
                                                                                            $
                                                                                            4.9Income
      tax benefits
                                                                                            
                                                                                            
                                                                                            (0.1
                                                                                            )
                                                                                            
                                                                                            
                                                                                            0.8
                                                                                            
                                                                                            
                                                                                            
                                                                                            0.5
                                                                                            
                                                                                            
                                                                                            
                                                                                            1.5KCP&LCompensation
      expense
                                                                                            
                                                                                            
                                                                                            0.3
                                                                                            
                                                                                            
                                                                                            
                                                                                            1.4
                                                                                            
                                                                                            
                                                                                            
                                                                                            1.6
                                                                                            
                                                                                            
                                                                                            
                                                                                            3.0Income
      tax benefits
                                                                                            
                                                                                            
                                                                                            (0.3
                                                                                            )
                                                                                            
                                                                                            
                                                                                            0.6
                                                                                            
                                                                                            
                                                                                            
                                                                                            0.1
                                                                                            
                                                                                            
                                                                                            
                                                                                            1.1 30
 Amendment
to Performance Shares
 In May
2009, the independent members of the Great Plains Energy Board of Directors
(Board) approved amendments to certain outstanding performance share agreements
(Original Agreements) for the 2007-2009 and 2008-2010 performance
periods.  The Original Agreements, as so amended, are referred to as
the Amended Agreements.  Due to changes in economic and financial
market conditions since the Original Agreements were entered into, the
Compensation and Development Committee (Committee) and Board determined that the
Original Agreements no longer provided meaningful incentives.
  The
Original Agreements granted performance shares based on a single performance
metric – the Company’s total shareholder return (TSR) as compared to the Edison
Electric Institute TSR index for electric utility companies over the relevant
performance periods.  The Amended Agreements provide for a combination
of performance shares and time-based restricted stock.  In calculating
the number of performance shares and restricted stock under the Amended
Agreements, the value of the performance shares granted under the Original
Agreements (determined as of the date of the original awards) was first reduced
by two-thirds (for the 2007-2009 performance awards) and one-third (for the
2008-2010 performance awards).  The resulting amounts were then
divided by the fair market value (as defined in the Long-Term Incentive Plan) of
Great Plains Energy stock on the amendment date to arrive at a number of shares,
which was then divided equally between performance shares and restricted
stock.  The two equally weighted performance share award metrics under
the Amended Agreements are funds from operations as a percentage of total
adjusted debt and EPS, with the number of shares of common stock ultimately
issued varying depending on Great Plains Energy’s performance over stated
performance periods.
  The
performance shares under the Amended Agreements will be re-measured at fair
value each reporting period, with compensation cost to be recorded at the
greater of the grant-date fair value of the Original Agreements or the fair
value of the Amended Agreements for the portion for which the requisite service
has been rendered.  Great Plains Energy and KCP&L did not
recognize any incremental compensation cost as a result of the
amendment.
  Performance
Shares
 Performance
share activity year to date June 30, 2009, is summarized in the following
table.  Performance adjustment represents the number of shares of
common stock related to performance shares ultimately issued that can vary from
the number of performance shares initially granted depending on Great Plains
Energy’s performance over stated performance periods.  Compensation
expense for performance shares issued subsequent to the amendment discussed
above is calculated by taking the change in fair value between reporting periods
for the portion for which the requisite service has been
rendered.
 Performance
                                                                                                      
                                                                                                      Grant
      DateShares
                                                                                                      
                                                                                                      Fair
      Value*Beginning
      balance
                                                                                                      
                                                                                                      
                                                                                                      314,511
                                                                                                      
                                                                                                      
                                                                                                      $
                                                                                                      28.47Performance
      adjustment
                                                                                                      
                                                                                                      
                                                                                                      (88,056
                                                                                                      )Granted
                                                                                                      
                                                                                                      
                                                                                                      196,431
                                                                                                      
                                                                                                      
                                                                                                      
                                                                                                      14.35Amendment
      effect
                                                                                                      
                                                                                                      
                                                                                                      (99,991
                                                                                                      )
                                                                                                      
                                                                                                      
                                                                                                      29.33Forfeited
                                                                                                      
                                                                                                      
                                                                                                      (18,456
                                                                                                      )
                                                                                                      
                                                                                                      
                                                                                                      28.59Ending
      balance
                                                                                                      
                                                                                                      
                                                                                                      304,439
                                                                                                      
                                                                                                      
                                                                                                      
                                                                                                      19.15* weighted-average
 
 At June
30, 2009, the remaining weighted-average contractual term was 2.0
years.  The weighted-average grant-date fair value of shares granted
for the three months ended and year to date June 30, 2009, was $14.35 and was
$26.22 for the same periods in 2008.  At June 30, 2009, there was $4.4
million of total unrecognized compensation expense, net of forfeiture rates,
related to performance shares granted under the Long-Term Incentive Plan, which
will be recognized over the remaining weighted-average contractual term. 
There were no shares of common stock issued related to performance shares for
the three months and year to date June 30, 2009.  The total fair value
of shares of common stock issued related to performance shares year to date June
30, 2008, was $1.6 million.
 31
 Restricted
Stock
 Restricted
stock activity year to date June 30, 2009, is summarized in the following
table.
 Nonvested
                                                                                      
                                                                                      Grant
      DateRestricted
      stock
                                                                                      
                                                                                      Fair
      Value*Beginning
      balance
                                                                                      
                                                                                      
                                                                                      458,796
                                                                                      
                                                                                      
                                                                                      $
                                                                                      30.54Amendment
      effect
                                                                                      
                                                                                      
                                                                                      103,889
                                                                                      
                                                                                      
                                                                                      
                                                                                      14.35Granted
      and issued
                                                                                      
                                                                                      
                                                                                      261,798
                                                                                      
                                                                                      
                                                                                      
                                                                                      14.44Vested
                                                                                      
                                                                                      
                                                                                      (169,346
                                                                                      )
                                                                                      
                                                                                      
                                                                                      31.31Forfeited
                                                                                      
                                                                                      
                                                                                      (31,152
                                                                                      )
                                                                                      
                                                                                      
                                                                                      31.29Ending
      balance
                                                                                      
                                                                                      
                                                                                      623,985
                                                                                      
                                                                                      
                                                                                      
                                                                                      20.84*  weighted-average
 
 At June
30, 2009, the remaining weighted-average contractual term was 1.6
years.  The weighted-average grant-date fair value of shares granted
for the three months ended and year to date June 30, 2009, was $14.32 and
$14.44, respectively.  The weighted-average grant-date fair value of
shares granted for the three months ended and year to date June 30, 2008, was
$26.23 and $26.30, respectively.  At June 30, 2009, there was $5.5
million of total unrecognized compensation expense, net of forfeiture rates,
related to nonvested restricted stock granted under the Long-Term Incentive
Plan, which will be recognized over the remaining weighted-average contractual
term.  The total fair value of shares vested year to date June 30, 2009,
was $5.3 million.  The total fair value of shares vested for the three
months ended and year to date June 30, 2008 was $1.4 million and $2.2 million,
respectively.
  Stock
Options
 Stock
option activity under all plans year to date June 30, 2009, is summarized in the
following table.  All stock options are fully vested at June 30,
2009.
 ExerciseStock
      Options
                                                                                                                            
                                                                                                                            Shares
                                                                                                                            
                                                                                                                            
                                                                                                                            Price*Beginning
      balance
                                                                                                                            
                                                                                                                            
                                                                                                                            520,829
                                                                                                                            
                                                                                                                            
                                                                                                                            $
                                                                                                                            76.10Exercised
                                                                                                                            
                                                                                                                            
                                                                                                                            (794
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            11.64Forfeited
      or expired
                                                                                                                            
                                                                                                                            
                                                                                                                            (110,104
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            118.96Outstanding
      and exercisable at June 30, 2009
                                                                                                                            
                                                                                                                            
                                                                                                                            409,931
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            64.71*  weighted-average
 
 The
weighted-average grant-date fair value of options exercised for the three months
ended and year to date June 30, 2009, was $11.64 per share.  The
aggregate intrinsic value and cash received for options exercised in 2009 was
insignificant.  There was no stock option activity for the three
months ended and year to date June 30, 2008.
 32
 
 The
following table summarizes all outstanding and exercisable stock options as of
June 30, 2009.
  Outstanding
      and Exercisable OptionsWeighted
      AverageRemaining
                                                                                        
                                                                                        WeightedExercise
                                                                                        Number of
                                                                                        
                                                                                        Contractual
      Life
                                                                                        
                                                                                        AveragePrice
      Range
                                                                                        Shares
                                                                                        
                                                                                        in
      Years
                                                                                        
                                                                                        Exercise
      Price$9.21
      - $11.64
                                                                                        
                                                                                        62,936
                                                                                        
                                                                                        0.5
                                                                                        
                                                                                        $  11.54$23.91
      - $27.73
                                                                                        
                                                                                        231,369
                                                                                        
                                                                                        2.5
                                                                                        
                                                                                        24.54$121.90
      - $181.11
                                                                                        
                                                                                        78,130
                                                                                        
                                                                                        1.1
                                                                                        
                                                                                        151.02$221.82
      - $251.86
                                                                                        
                                                                                        37,496
                                                                                        
                                                                                        1.8
                                                                                        
                                                                                        221.98Total
                                                                                        
                                                                                        409,931
                                                                                        
                                                                                        1.8
 At June
30, 2009, the aggregate intrinsic value of in the money outstanding and
exercisable options was insignificant.
 
 Director
Deferred Share Units
 Non-employee
directors receive shares of Great Plains Energy’s common stock as part of their
annual retainer.  Each director may elect to defer receipt of their
shares until the end of January in the year after they leave Great Plains
Energy’s Board of Directors.  Director Deferred Share Units activity
year to date June 30, 2009, is summarized in the following table.
 Share
                                                                                                                              
                                                                                                                              Grant
      DateUnits
                                                                                                                              
                                                                                                                              Fair
      Value*Beginning
      balance
                                                                                                                              
                                                                                                                              
                                                                                                                              7,588
                                                                                                                              
                                                                                                                              
                                                                                                                              $
                                                                                                                              27.94Issued
                                                                                                                              
                                                                                                                              
                                                                                                                              13,393
                                                                                                                              
                                                                                                                              
                                                                                                                              
                                                                                                                              19.31Ending
      balance
                                                                                                                              
                                                                                                                              
                                                                                                                              20,981
                                                                                                                              
                                                                                                                              
                                                                                                                              
                                                                                                                              22.43*  weighted-average
 
 The total
fair value of shares of Director Deferred Share Units issued for the three
months ended and year to date June 30, 2009, was $0.3 million, and for the same
periods in 2008 was insignificant and $0.2 million, respectively.
   10.
                                                              SHORT-TERM
      BORROWINGS AND SHORT-TERM BANK LINES OF
CREDIT
  Great
Plains Energy’s $400 Million Revolving Credit Facility
 Great
Plains Energy’s $400 million revolving credit facility with a group of banks
expires in May 2011.  A default by Great Plains Energy or any of its
significant subsidiaries on other indebtedness totaling more than $25.0 million
is a default under the facility.  Under the terms of this agreement,
Great Plains Energy is required to maintain a consolidated indebtedness to
consolidated capitalization ratio, as defined in the agreement, not greater than
0.65 to 1.00 at all times.  At June 30, 2009, Great Plains Energy was
in compliance with this covenant.  At June 30, 2009, Great Plains
Energy had $8.0 million of outstanding cash borrowings with a weighted-average
interest rate of 0.825% and had issued letters of credit totaling $34.9 million
under the credit facility.  At December 31, 2008, Great Plains Energy
had $30.0 million of outstanding cash borrowings with a weighted-average
interest rate of 1.22% and had issued letters of credit totaling $34.9 million
under the credit facility.
  KCP&L’s
$600 Million Revolving Credit Facility
 KCP&L’s
$600 million revolving credit facility with a group of banks to provide support
for its issuance of commercial paper and other general corporate purposes
expires in May 2011.  A default by KCP&L on other indebtedness
totaling more than $25.0 million is a default under the
facility.  Under the terms of the agreement, KCP&L is required to
maintain a consolidated indebtedness to consolidated capitalization ratio, as
defined in the
 33
 agreement,
not greater than 0.65 to 1.00 at all times.  At June 30, 2009,
KCP&L was in compliance with this covenant.  At June 30, 2009,
KCP&L had $79.8 million of commercial paper outstanding, at a
weighted-average interest rate of 1.28%, $17.0 million of letters of credit
outstanding and no outstanding cash borrowings under the facility.  At
December 31, 2008, KCP&L had $380.2 million of commercial paper outstanding,
at a weighted-average interest rate of 5.34%, $11.9 million of letters of credit
outstanding and no outstanding cash borrowings under the facility.
  GMO’s
$400 Million Revolving Credit Facility
 GMO’s
$400 million revolving credit facility with a group of banks expires in
September 2011.  A default by GMO or any of its significant
subsidiaries on other indebtedness totaling more than $25.0 million is a default
under the facility.  Under the terms of this agreement, GMO is
required to maintain a consolidated indebtedness to consolidated capitalization
ratio, as defined in the agreement, not greater than 0.65 to 1.00 at all
times.  At June 30, 2009, GMO was in compliance with this
covenant.  At June 30, 2009, GMO had $102.0 million of outstanding
cash borrowings with a weighted-average interest rate of 1.56%, and had issued
letters of credit totaling $14.0 million under the credit
facility.  At December 31, 2008, GMO had $110.0 million of outstanding
cash borrowings with a weighted-average interest rate of 1.22%, and had issued
letters of credit totaling $1.2 million under the credit facility.
  GMO’s
$65 Million Revolving Credit Facility
 GMO’s $65
million revolving credit facility originally would have expired in April 2009,
but was extended until July 2009 and the aggregate amount available for
borrowing was reduced to $50 million.  On June 9, 2009, GMO terminated
this agreement.  At December 31, 2008, GMO had $64.0 million of
outstanding cash borrowings with a weighted-average interest rate of
2.16%.
 34
 11.
                                                              LONG-TERM
      DEBT
  Great
Plains Energy’s and KCP&L’s long-term debt is detailed in the following
table.
 June
      30
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  December
      31Year
      Due
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2009
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2008KCP&L
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  (millions)General
      Mortgage Bonds4.90%*
      EIRR bonds
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2012-2035
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  $
                                                                                                                                                                                                                  158.8
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  $
                                                                                                                                                                                                                  158.87.15%
      Series 2009A
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2019
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  400.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  -4.65%
      EIRR Series 2005
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2035
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  50.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  -5.125%
      EIRR Series 2007A-1
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2035
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  63.3
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  -5.00%
      EIRR Series 2007A-2
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2035
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  10.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  -5.375%
      EIRR Series 2007B
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2035
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  73.2
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  -Unamortized
      discount
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  (0.4
                                                                                                                                                                                                                  )
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  -Senior
      Notes6.50%
      Series
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2011
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  150.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  150.05.85%
      Series
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2017
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  250.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  250.06.375%
      Series
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2018
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  350.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  350.06.05%
      Series
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2035
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  250.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  250.0Unamortized
      discount
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  (1.8
                                                                                                                                                                                                                  )
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  (1.8
                                                                                                                                                                                                                  )EIRR
      Bonds4.65%
      Series 2005
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  -
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  50.05.125%
      Series 2007A-1
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  -
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  63.35.00%
      Series 2007A-2
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  -
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  10.05.375%
      Series 2007B
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  -
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  73.24.90%
      Series 2008
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2038
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  23.4
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  23.4Total
      KCP&L
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  1,776.5
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  1,376.9GMOFirst
      Mortgage Bonds9.44%
      Series
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2010-2021
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  13.5
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  14.6Pollution
      Control Bonds5.85%
      SJLP Pollution Control
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2013
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  5.6
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  5.60.351%
      Wamego Series 1996
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2026
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  7.3
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  7.32.14%
      State Environmental 1993
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2028
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  5.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  5.0Senior
      Notes7.625%
      Series
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2009
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  68.5
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  68.57.95%
      Series
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2011
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  137.3
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  137.37.75%
      Series
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2011
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  197.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  197.011.875%
      Series
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2012
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  500.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  500.08.27%
      Series
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2021
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  80.9
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  80.9Fair
      Value Adjustment
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  101.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  117.5Medium
      Term Notes7.16%
      Series
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2013
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  6.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  6.07.33%
      Series
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2023
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  3.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  3.07.17%
      Series
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2023
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  7.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  7.0Other
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2009
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  0.6
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  1.1Current
      maturities
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  (70.2
                                                                                                                                                                                                                  )
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  (70.7
                                                                                                                                                                                                                  )Total
      GMO
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  1,062.5
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  1,080.1Other
      Great Plains Energy6.875%
      Senior Notes
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2017
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  100.0
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  100.010.00%
      Equity Units Subordinated Notes
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  2042
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  287.5
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  -Unamortized
      discount
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  (0.4
                                                                                                                                                                                                                  )
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  (0.4
                                                                                                                                                                                                                  )Total
      Great Plains Energy excluding current maturities
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  $
                                                                                                                                                                                                                  3,226.1
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  $
                                                                                                                                                                                                                  2,556.6*   Weighted-average
      interest rates at June 30, 2009. 35
 Great
Plains Energy adopted Financial
Accounting Standards Board Staff Position (FSP) SFAS No. 107-1, “Interim
Disclosures about Fair Value of Financial Instruments,” in the second quarter of
2009.  This FSP amends SFAS No. 107, “Disclosures about Fair Value of
Financial Instruments,” to require disclosures about fair value of financial
instruments for interim reporting periods of publicly traded companies as well
as in annual financial statements.  Fair value is based on quoted
market prices, with the incremental borrowing rate for similar debt used to
determine fair value if quoted market prices were not available.  At
June 30, 2009, the book value and fair value of Great Plains Energy’s long-term
debt was $3.2 billion.  At June 30, 2009, the book value and fair
value of KCP&L’s long-term debt was $1.8 billion and $1.7 billion,
respectively.  At December 31, 2008, the book value and fair value of
Great Plains Energy’s long-term debt was $2.6 billion and $2.2 billion,
respectively.  At December 31, 2008, the book value and fair value of
KCP&L’s long-term debt was $1.4 billion and $1.1 billion,
respectively.
  Amortization
of Debt Expense
 Great
Plains Energy’s and KCP&L’s amortization of debt expense is detailed in the
following
table.
 Three
      Months Ended
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              Year
      to DateJune
      30
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              June
      302009
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              2008
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              2009
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              2008(millions)KCP&L
                                                                                                                                                                              
                                                                                                                                                                              $
                                                                                                                                                                              0.6
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              $
                                                                                                                                                                              0.4
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              $
                                                                                                                                                                              1.0
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              $
                                                                                                                                                                              0.8Other
      Great Plains Energy
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              0.4
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              0.2
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              0.9
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              0.3Total
      Great Plains Energy
                                                                                                                                                                              
                                                                                                                                                                              $
                                                                                                                                                                              1.0
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              $
                                                                                                                                                                              0.6
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              $
                                                                                                                                                                              1.9
                                                                                                                                                                              
                                                                                                                                                                              
                                                                                                                                                                              $
                                                                                                                                                                              1.1
 KCP&L
General Mortgage Bonds and EIRR Bonds
 In March
2009, KCP&L issued $400.0 million of 7.15% Mortgage Bonds Series 2009A,
maturing in 2019.  As a result of amortizing the loss recognized in
Other Comprehensive Income (OCI) on KCP&L’s Forward Starting Swaps (FSS),
the effective interest rate on KCP&L’s $400.0 million of 7.15% Mortgage
Bonds Series 2009A is 8.591%.
  In
connection with the issuance of KCP&L’s $400.0 million 7.15% Mortgage Bonds
Series 2009A , KCP&L concurrently issued $50.0 million of Mortgage Bonds
Series 2005 Environmental Improvement Revenue Refunding (EIRR) Insurer due 2035
(2005 Insurer Bonds) to Syncora Guarantee Inc. (Syncora) and $146.5 million of
Mortgage Bonds Series 2007 EIRR Insurer due 2035 (2007 Insurer Bonds) to
Financial Guaranty Insurance Company (FGIC), as required under the applicable
insurance agreements described below.  The 2005 and 2007 Insurer Bonds
are not incremental debt for KCP&L, but collateralize Syncora’s and FGIC’s
claims on KCP&L if Syncora or FGIC were required to meet their obligations
under the insurance agreements.
  KCP&L
is the obligor with respect to $50.0 million aggregate principal amount of
EIRR Bonds Series 2005, which are insured by a municipal bond
insurance policy issued by Syncora.  The insurance agreement between
KCP&L and Syncora requires KCP&L to provide Syncora with
$50.0 million of mortgage bonds as collateral for KCP&L’s obligations
under the insurance agreement if KCP&L issues mortgage bonds (other than
refundings of outstanding mortgage bonds) in excess of certain
thresholds.
  KCP&L
is the obligor with respect to $146.5 million aggregate principal amount of
EIRR Bonds Series 2007A-1, Series 2007A-2 and Series 2007B,
which are insured by a municipal bond insurance policy issued by
FGIC.  Under the insurance agreement between KCP&L and FGIC, if
KCP&L issues debt secured by liens not permitted by the insurance agreement,
KCP&L is obligated to issue and deliver mortgage bonds or similar securities
equal in principal amount to the principal amount of the EIRR Bonds
Series 2007A-1, Series 2007A-2 and Series 2007B then
outstanding.
 36
 Other
Great Plains Energy Long-Term Debt
 In May
2009, Great Plains Energy issued $287.5 million of Equity
Units.  Equity Units, each with a stated amount of $50, initially
consist of a 5% undivided beneficial interest in $1,000 principal amount of
10.00% subordinated notes due June 15, 2042, and a purchase contract requiring
the holder to purchase the Company’s common stock by June 15, 2012 (the
settlement date).  Each purchase contract obligates the holder of the
purchase contract to purchase, and Great Plains Energy to sell, no later than
June 15, 2012, for $50 in cash, newly issued shares of the Company’s common
stock equal to the settlement rate.  The purchase contracts may be
settled earlier at the option of the holder subject to certain conditions,
including but not limited to, the occurrence of a fundamental change at least 20
business days prior to June 15, 2012.  The settlement rate will vary
according to the applicable market value of the Company’s common stock at the
settlement date.  Applicable market value will be measured by the
average of the closing price per share of the Company’s common stock on each of
the 20 consecutive trading days ending on the third trading day immediately
preceding June 15, 2012.  The settlement rate will be applied to the
5,750,000 Equity Units at the settlement date to issue a number of common shares
determined as described in the following table.
 Applicable
                                                                                                                  Settlement
      rate
                                                                                                                  
                                                                                                                  Market
      valuemarket
      value
                                                                                                                  (in
      common shares)
                                                                                                                  
                                                                                                                  per
      Equity Unit (a)$16.80
      or greater
                                                                                                                  2.9762
      to 1
                                                                                                                  
                                                                                                                  Greater
      than $50 per Equity Unit$16.80
      to $14.00
                                                                                                                  $50
      divided by the applicable
                                                                                                                  Equal
      to $50 per Equity Unitmarket
      value to 1$14.00
      or less
                                                                                                                  3.5714
      to 1
                                                                                                                  
                                                                                                                  Less
      than $50 per Equity Unit(a)
      Assumes
      that the market price of the Company's common stock on June 15,
      2012,is
      the same as the applicable market
value.
 
 Great
Plains Energy makes quarterly contract adjustment payments at the rate of 2.00%
per year of the stated amount of $50 per Equity Unit and interest payments at
the rate of 10.00% per year on the subordinated notes.  Great Plains
Energy must attempt to remarket the subordinated notes, in whole but not in
part.  The proceeds from a successful remarketing will be used to
satisfy the holders’ obligation under the purchase contract.  If the
subordinated notes are not successfully remarketed by June 15, 2012, Great
Plains Energy will exercise its rights as a secured party to dispose of the
subordinated notes in accordance with applicable laws and satisfy in full each
holder’s obligation to purchase the Company’s common stock under the purchase
contracts.
 
 The
present value of the contract adjustment payments of $15.1 million was recorded
as a liability in other current liabilities and other deferred credits and other
liabilities with a corresponding amount recorded as capital stock premium and
expense on Great Plains Energy’s consolidated balance sheet.  Expenses
incurred with the offering of $4.3 million have been deferred and are being
recognized as interest expense over the term on the notes and $7.3 million were
recorded as capital stock premium and expense.
  12.
                                                              COMMON
      SHAREHOLDERS’ EQUITY
  In May
2009, Great Plains Energy issued 11.5 million shares of common stock at $14.00
per share with $161.0 million in gross proceeds and issuance costs of $6.3
million.
  At the
May 5, 2009, annual shareholders meeting, the Great Plains Energy common stock
shareholders approved an amendment to the articles of incorporation, increasing
the authorized number of shares of common stock, no par value, to 250 million
from 150 million.
 37
 In the
first quarter of 2009, Great Plains Energy sold 3,829,719 shares for $49.5
million in net proceeds under a Sales Agency Financing Agreement with BNY Mellon
Capital Markets, LLC.  Great Plains Energy used the proceeds to make a
$40.0 million capital contribution to KCP&L to fund Comprehensive Energy
Plan projects.
  Great
Plains Energy’s articles of incorporation restrict the payment of common stock
dividends in the event common equity is 25% or less of total
capitalization.  In addition, if preferred stock dividends are not
declared and paid when scheduled, Great Plains Energy could not declare or pay
common stock dividends or purchase any common shares.  If the unpaid
preferred stock dividends equal four or more full quarterly dividends, the
preferred shareholders, voting as a single class, could elect the smallest
number of directors necessary to constitute a majority of the full
Board.  The MPSC and KCC orders issued in 2001 authorizing the holding
company structure contain certain conditions requiring Great Plains Energy and
KCP&L to maintain consolidated common equity of at least 30% and 35%,
respectively, of total capitalization.  Under the Federal Power Act,
KCP&L and GMO generally can pay dividends only out of retained
earnings.  The revolving credit agreements of Great Plains Energy,
KCP&L and GMO contain a covenant requiring each company to maintain a
consolidated indebtedness to consolidated capitalization ratio of not more than
0.65 to 1.00.  These restrictions do not use the same definition of
total capitalization.  In addition, Great Plains Energy is prohibited
from paying dividends on its common and preferred stock in the event Equity Unit
contract payments or interest payments on the debt underlying the Equity Units
are deferred until such deferrals have been paid.
  As of
June 30, 2009, all of Great Plains Energy’s and KCP&L’s retained earnings
and net income were free of restrictions.  As a result of the above
restrictions, Great Plains Energy’s subsidiaries had restricted net assets of
approximately $2.8 billion as of June 30, 2009.  The restrictions are
not expected to affect the companies’ ability to pay dividends at the current
level in the foreseeable future.
  13.
                                                              COMMITMENTS
      AND CONTINGENCIES
  Environmental
Matters
 The
Company is subject to regulation by federal, state and local authorities with
regard to air quality and other environmental matters primarily through
KCP&L’s and GMO’s operations.  The generation, transmission and
distribution of electricity produces and requires proper management and disposal
of certain hazardous products and wastes that are subject to these laws and
regulations.  In addition to imposing extensive and continuing
compliance obligations, these laws and regulations authorize the imposition of
substantial penalties for noncompliance, including fines, injunctive relief and
other sanctions.  Failure to comply with these laws and regulations
could have a material adverse effect on KCP&L and Great Plains
Energy.  KCP&L and GMO seek to use current environmental
technology.
  The
Company believes it is likely that additional federal or relevant state or local
laws or regulations could be enacted to address global climate
change.  Such laws or regulations could mandate measures to measure,
control or reduce the emission of greenhouse gases, such as CO2, which are
created in the combustion of fossil fuels.  Laws have recently been
passed in Missouri and Kansas, the states in which the Company’s retail electric
business is operated, setting renewable energy standards, and the Company
believes that national renewable energy standards are also
likely.  While the Company believes laws and/or regulation addressing
these matters will probably be enacted, the timing, requirements and impact of
such laws and/or regulations, including the cost to obtain and install new
equipment to achieve compliance, cannot be reasonably estimated at this
time.  Such laws and/or regulations could have the potential for a
significant financial and operational impact on KCP&L and
GMO.  KCP&L and GMO would seek recovery of capital costs and
expenses for compliance through rate increases; however, there can be no
assurance that such rate increases would be granted.
  Great
Plains Energy’s and KCP&L’s current estimates of capital expenditures
(exclusive of AFUDC and property taxes) to comply with the current versions of
environmental air emission regulations is a range of approximately $0.8 billion
- $1 billion.  The decrease in the cost estimates from the 2008 Form
10-K of $1.3 billion - $1.7 billion and $1.1 billion - $1.4 billion for Great
Plains Energy and KCP&L, respectively, is a result of completing
 38
 construction
of environmental projects at Iatan No. 1 and GMO’s Sibley and Jeffrey
stations.  As discussed below, the Clean Air Interstate Rule (CAIR)
has been remanded to the EPA, but remains in effect until the EPA issues rules
consistent with the court’s order or until the court takes further
action.  It is not possible to project what rules the EPA may issue as
a result of this remand, when the rules may be issued, or the costs associated
with such rules.  The actual cost of compliance with any future rules,
and with best available retrofit technology (BART), may be significantly
different from these cost estimates.
  The
potential capital costs of the Collaboration Agreement provisions relating to
NOx,
SO2
and particulate emission limits at the LaCygne generating station are within the
overall estimated capital cost ranges disclosed above.  However, the
ranges do not reflect potential costs relating to other laws, including
potential laws regarding the control of mercury emissions (discussed below), and
also do not reflect costs relating to additional wind generation, energy
efficiency and other CO2 emission
offsets contemplated by the Collaboration Agreement.  Costs relating
to the additional wind generation and energy efficiency investments that are
subject to regulatory approval cannot be reasonably estimated at this
time.  The ranges do not reflect the non-capital costs KCP&L and
GMO incur on an ongoing basis to comply with environmental laws, which may in
the future increase due to the implementation of KCP&L’s Comprehensive
Energy Plan and KCP&L’s and GMO’s ongoing compliance with current or future
environmental laws.  For instance, the potential costs relating to the
additional offset of approximately 711,000 tons of CO2 emissions
by the end of 2012 under the Collaboration Agreement cannot be reasonably
estimated at this time.  KCP&L continues to evaluate the available
operational and capital resource alternatives, and will select the most
cost-effective mix of actions to achieve this additional
offset.  KCP&L expects to seek recovery of the costs associated
with the Collaboration Agreement through rate increases; however, there can be
no assurance that such rate increases would be granted.
  Clean
Air Interstate Rule
 The CAIR
requires reductions in SO2 and
NOx
emissions in 28 states, including Missouri.  The reduction in both
SO2
and NOx emissions
is set to be accomplished through establishment of permanent statewide caps for
NOx
effective January 1, 2009, and SO2 effective
January 1, 2010.  More restrictive caps are scheduled to become
effective January 1, 2015.  KCP&L’s and GMO’s fossil
fuel-fired plants located in Missouri are subject to CAIR, while their fossil
fuel-fired plants in Kansas are not.
  On July
11, 2008, the D.C. Circuit Court of Appeals vacated CAIR in its entirety and
remanded the matter to the EPA to promulgate a new rule consistent with its
opinion.  The EPA and others sought rehearing of the Court’s
decision.  On December 23, 2008, the Court denied all petitions for
rehearing and issued an order remanding CAIR to the EPA to revise the rule
consistent with its July 2008 order.  The CAIR thus remains in effect
pending future EPA or court action.
 
 The EPA’s
future revisions to CAIR could result in a rule that requires greater emission
reductions, imposes an earlier compliance deadline, changes or eliminates the
NOx
fuel factor adjustment, includes additional states (including Kansas), does not
allow for emissions reductions to be obtained through interstate allowance
trading, or the use of the Acid Rain Program SO2allowances, or imposes other requirements not yet known.  Great
Plains Energy and KCP&L cannot predict the outcome of the EPA’s revisions to
CAIR, but such revisions could have a significant effect on Great Plains
Energy’s and KCP&L’s results of operations, financial position and cash
flows.
 
 KCP&L
and GMO expect to meet the emissions reductions required by CAIR at their
Missouri plants through a combination of pollution control capital projects and
the purchase of emission allowances as needed.  Some of the control
technology for SO2 and
NOx
could also aid in the control of mercury.  CAIR currently establishes
a market-based cap-and-trade program with an emission allowance
allocation.  Facilities demonstrate compliance with CAIR by holding
sufficient allowances for each ton of SO2 and
NOx
emitted in any given year.  KCP&L and GMO are currently allowed to
utilize unused SO2 emission
allowances that they have either accumulated during previous years of the Acid
Rain Program or purchased to meet the more stringent CAIR
requirements.  At June 30, 2009, KCP&L had accumulated unused
SO2
emission allowances sufficient to support over 110,000 tons of SO2 emissions
(enough to support expected requirements under the current CAIR for the
foreseeable future) under
 39
 the
provisions of the Acid Rain program, which are recorded in inventory at zero
cost.  KCP&L is permitted to sell excess SO2 emission
allowances in accordance with KCP&L’s Comprehensive Energy Plan as approved
by the MPSC and KCC.  At June 30, 2009, GMO had accumulated unused
SO2
emission allowances sufficient to support just over 24,000 tons of SO2 emissions
(enough to support expected requirements under the current CAIR through 2011),
which it has received under the Acid Rain Program or purchased, which are
recorded in inventory at average cost.
 
 Analysis
of the current CAIR rule indicates that NOx and
SO2
control may be required for KCP&L’s Montrose Station and GMO’s Sibley and
Lake Road Stations in Missouri, in addition to the environmental upgrades at
Iatan No. 1 included in the Comprehensive Energy Plan.  NOx and
SO2
control for KCP&L’s Montrose Station and GMO’s Sibley and Lake Road Stations
may be achieved under CAIR through a combination of pollution control equipment
and the use or purchase of emission allowances as needed.  As required
by the Collaboration Agreement, an interim status report was completed in 2008
to update progress on underlying studies.  An assessment of the
potential future use of Montrose Station, including without limitation,
retiring, re-powering and upgrading the units is expected to be completed in
2009.
  Best
Available Retrofit Technology Rule
 The EPA
BART rule directs state air quality agencies to identify whether
visibility-reducing emissions from sources subject to BART are below limits set
by the state or whether retrofit measures are needed to reduce
emissions.  BART applies to specific eligible facilities including
KCP&L’s LaCygne Nos. 1 and 2 in Kansas, KCP&L’s Iatan No. 1, in which
GMO has an interest, and KCP&L’s Montrose No. 3 in Missouri, GMO’s Sibley
Unit No. 3 and Lake Road Unit No. 6 in Missouri and Westar’s Jeffrey Unit Nos. 1
and 2 in Kansas, in which GMO has an 8% interest.  Initially, in
Missouri, compliance with CAIR will be compliance with BART for individual
sources.  Neither Missouri nor Kansas has received EPA approval for
their BART plans.
  In the
Collaboration Agreement, KCP&L agreed to seek a consent agreement, which it
has done, with the Kansas Department of Health and Environment (KDHE)
incorporating limits for stack particulate matter emissions, as well as limits
for NOx and
SO2
emissions at its LaCygne Station that will be below the presumptive limits under
BART.  KCP&L further agreed to use its best efforts to install
emission control technologies to reduce those emissions from the LaCygne Station
prior to the required compliance date under BART, but in no event later than
June 1, 2015.  KCP&L further agreed to issue requests for proposal
for equipment required to comply with BART by December 31, 2008, requesting that
construction commence by December 31, 2010, and has done so.
  New
Source Review
 The Clean
Air Act requires companies to obtain permits and, if necessary, install control
equipment to reduce emissions when making a major modification or a change in
operation if either is expected to cause a significant net increase in regulated
emissions.  In May 2008, KCP&L received a subpoena from a federal
grand jury seeking documents relating to capital projects at Iatan No.
1.  KCP&L completed the delivery of responsive documents in March
2009.  KCP&L believes that it is in compliance in all material respects
with all relevant laws and regulations; however, the ultimate outcome of these
grand jury activities or possible civil or administrative proceedings
regarding capital projects at Iatan No. 1 and other coal units cannot presently
be determined, nor can the liability that could potentially result from a
negative outcome presently be reasonably estimated.  There is no
assurance these costs, if any, could be recovered in rates.
  In
January 2004, Westar Energy, Inc. (Westar) received notification from the EPA
alleging that it had violated new source review requirements and Kansas
environmental regulations by making modifications to the Jeffrey Energy Center
without obtaining the proper permits.  The Jeffrey Energy Center is a
coal-fired plant located in Kansas that is 92% owned by Westar and operated
exclusively by Westar.  GMO has an 8% interest in the Jeffrey Energy
Center and is generally responsible for its 8% share of the facility’s operating
costs and capital expenditures.  On February 4, 2009, the Attorney
General of the United States filed a complaint against Westar alleging that it
violated the Clean Air Act and related federal and state regulations by making
major modifications to the Jeffrey Energy Center beginning in 1994 without first
obtaining appropriate permits authorizing this
 40
 construction
and without installing and operating best available control technology to
control emissions.  It is possible that Westar could be required to
make significant capital and other expenditures to install and operate new
emission control systems at the Jeffrey Energy Center, surrender emission
allowances, interrupt or shut-down operations at the Jeffrey Energy Center,
apply for new or modified permits, audit Jeffrey Energy Center operations,
otherwise mitigate any harm to public health and the environment resulting from
the alleged violations, and pay a civil penalty of up to $37,500 per day for
each violation.
  The
ultimate outcome of any of the above matters cannot presently be determined, nor
can the costs and other liabilities that could potentially result from a
negative outcome presently be reasonably estimated.  There is no
assurance these costs, if any, could be recovered in rates and failure to
recover such costs could have a significant adverse effect on Great Plains
Energy’s or KCP&L’s results of operations, financial position and cash
flows.
  Mercury
Emissions
 It is
likely that the EPA will develop maximum achievable control technology (MACT)
standards for mercury and potentially other hazardous air pollutant
emissions.  These MACT standards, if adopted, could impact both
KCP&L’s and GMO’s new and existing facilities.  In January 2009,
the EPA issued a memorandum stating that new electric steam generating units
(EGUs) that began construction while the Clean Air Mercury Rule (CAMR) was
effective are subject to a new source MACT determination on a case-by-case
basis.
  In July
2009, the EPA sent letters notifying KCP&L that MACT determinations and
schedules of compliance are required for coal and oil-fired EGUs that began
actual construction or reconstruction after December 15, 2000, and identified
Iatan No. 2 and Hawthorn No. 5 as affected EGUs.  This is an outcome
of the D.C. Court of Appeals’ vacatur of both the CAMR and contemporaneously
promulgated rule removing EGUs from MACT requirements.  It is not
currently known how MACT determinations and schedules of compliance will impact
the permitting or operating requirements for these two units, but it is possible
a MACT determination may ultimately require additional emission control
equipment and permit limits at Iatan No. 2, Hawthorn No. 5, or
both.  The estimated required environmental expenditures above do not
reflect any amounts for compliance with possible MACT standards because
management cannot predict the outcome of further judicial, administrative or
regulatory actions or their financial or operational effects on Great Plains
Energy and KCP&L.  However, such actions could have a significant
effect on Great Plains Energy’s and KCP&L’s results of operations, financial
position and cash flows.
  Greenhouse
Gases
 Legislation
concerning the reduction of emissions of greenhouse gases, including CO2,is
being considered at the federal and state levels, and some initial steps toward
definitive regulation have been taken, all with various compliance dates and
reduction strategies.  In addition, laws have been enacted in Kansas
and Missouri, the states in which the Company’s electric utility subsidiaries
operate, establishing renewable resource standards.  Greenhouse gas
regulation has the potential of having significant financial and operational
impacts on KCP&L and GMO, including with respect to achieving compliance
with limits that may be established.  However, the ultimate financial
and operational consequences to Great Plains Energy and KCP&L cannot be
determined until legislation is passed or regulations
enacted.  Management will continue to monitor the progress of relevant
bills and regulations.  As previously discussed, KCP&L has entered
into a Collaboration Agreement that includes various provisions regarding wind
generation, energy efficiency and other CO2offsets.
  The
American Clean Energy and Security Act of 2009 (Act) passed the U.S. House of
Representatives in June 2009.  The Act would establish a 20 percent
renewable electricity standard (Federal RES) by 2020, starting with an initial 6
percent requirement by 2012.  The Act would also establish a
greenhouse gas cap and trade program, requiring KCP&L, GMO and other
affected entities to comply by surrendering allowances or offsets for each ton
of greenhouse gas emitted.  The number of allowances would be
initially set and then reduced over time, with the projected effect of reducing
greenhouse gasemissions below 2005 levels by3 percent, 17 percent, 42 percent, and 83
percent by 2012, 2020, 2030, and 2050, respectively.  In addition, the
Act would establish CO2emission
performance standards for new coal-fired units that receive an initial permit
after January 1, 2009.
 41
 The Act
is complex, and there are many aspects of the Act that cannot be reasonably
estimated, including the availability and price of allowances and offsets in the
market to be established by the Act.  As well, it is not possible to
reasonably project the provisions of greenhouse gas legislation that may
ultimately be enacted by Congress.  Subject to these qualifications
and uncertainties, management currently projects that KCP&L and GMO would be
allocated up to approximately 60% and 50%, respectively, fewer allowances than
needed to cover their projected 2012 CO2
emissions (assuming no change in operations).  KCP&L and GMO would
be required to reduce emissions, purchase allowances or offsets, or a
combination of both.  KCP&L and GMO would seek recovery of
compliance costs in rates; however, there is no assurance regarding the timing
or amount of compliance costs recovery.  The ultimate annual cost of
compliance with the Federal RES and the cap and trade program cannot be
estimated at this time, but could be in an initial range of about $300 million
to $800 million for Great Plains Energy, including $200 million to $600 million
for KCP&L.  These potential costs could require initial electric
rate increases aggregating about 15% to 45% for Great Plains Energy, including
20% to 50% for KCP&L.  As the number of allowances is reduced, and
the Federal RES increases over time, the costs and resulting electric rate
increases would increase from the initial levels.  Additional
greenhouse gas bills may be introduced in Congress, but the provisions of any
legislation that may be enacted, including when and to what extent such
legislation will regulate CO2, cannot be
determined at this time.
  Even if
there are no new Congressional mandates, the EPA is considering the regulation
of greenhouse gases under the existing Clean Air Act.  In 2007, the
U.S. Supreme Court determined that greenhouse gases are air pollutants covered
by the Clean Air Act.  The Court held that the EPA must determine
whether or not emissions of greenhouse gases from new motor vehicles cause or
contribute to air pollution which may reasonably be anticipated to endanger
public health or welfare.  In April 2009, the EPA proposed two
distinct findings regarding greenhouse gases under the Clean Air
Act.  In the first finding, referred to as the endangerment finding,
the EPA proposed that the current and projected concentrations of the mix of six
greenhouse gases, including CO2, in the
atmosphere threaten the public health and welfare of current and future
generations.  In the second finding, referred to as the cause or
contribute finding, the EPA proposed that the combined emissions of greenhouse
gases from new motor vehicles and motor vehicle engines contribute to the
atmospheric concentrations of these greenhouse gases and therefore, contribute
to the threat of climate change.  The EPA further indicated that this
proposed finding would not itself impose any requirements on industry because an
endangerment finding under one provision of the Clean Air Act would not by
itself automatically trigger regulation under the entire
Act.  However, the EPA could propose rulemaking specific to the
Federal Prevention of Significant Deterioration (PSD) permit, New Sources
Performance Standards, or other programs as identified in the EPA’s July 2008
advanced notice of proposed rulemaking on the ramifications of regulating
greenhouse gas emissions under the Clean Air Act.  These potential
rules may ultimately regulate other sources of CO2, which may
include KCP&L and GMO facilities.
  In
December 2008, the EPA issued an interpretive memo declaring that CO2 is not
currently subject to regulation under the PSD program; however, in February 2009
the EPA announced that it plans to reconsider the interpretive memo and publish
a related notice of rulemaking in the near future.  The EPA may
ultimately determine to regulate greenhouse gases under the Clear Air Act,
either through direct regulation of CO2 and other
greenhouse gases, or through new PSD requirements.  In March 2009, the
EPA issued a proposed rule for mandatory greenhouse gas reporting from large
greenhouse gas emissions sources which would include KCP&L and GMO
facilities.
  At the
state level, a Kansas law enacted in May 2009 requires Kansas public electric
utilities, including KCP&L, to have renewable energy generation capacity
equal to at least 10% of their three-year average Kansas peak retail demand by
2011.  The percentage increases to 15% by 2016 and 20% by
2020.  A Missouri law enacted in November 2008 requires at least 2% of
the electricity provided by Missouri investor-owned utilities (including
KCP&L and GMO) to their Missouri retail customers to come from renewable
resources, including wind, solar, biomass and hydropower, by 2011, increasing to
5% in 2014, 10% in 2018, and 15% in 2021, with a small portion (estimated to be
about 2 MW for each of KCP&L and GMO in 2011) required to come from solar
resources.  Regulations implementing these laws are being drafted by
the MPSC and KCC, and the ultimate impacts on
 42
 KCP&L
and GMO cannot be reasonably estimated at this time.  However, there
is a potential that KCP&L could be required to add up to 115 MW in
additional renewable energy resources, including 2 MW of solar resources, by
2011, which could be satisfied through ownership, purchase power agreements or
renewable energy credits.  See Note 7 for a discussion of the
Collaboration Agreement wind generation commitments and current wind project
agreements.  Subject to the final MPSC regulations, GMO expects that
its existing renewable resources will achieve compliance with the Missouri
standards until 2014, except for the solar resources
requirement.  KCP&L and GMO issued a request for proposals for
solar resources, and are evaluating the responses.  Additionally, in
November 2007, governors from six Midwestern states, including Kansas, signed
the Midwestern Greenhouse Gas Reduction Accord, which has established the goal
of reducing member states’ greenhouse gas emissions to 15% to 20% below 2005
levels by 2020, and 60% to 80% below 2005 levels by 2050.
  Ozone
and NO2
 In June
2007, monitor data indicated that the Kansas City area violated the primary
eight-hour ozone national ambient air quality standard
(NAAQS).  Missouri and Kansas have implemented the responses
established in the maintenance plans for control of ozone.  The
responses in both states do not require additional controls at KCP&L’s and
GMO’s generation facilities beyond the currently proposed controls for CAIR and
BART.  The EPA has various options over and above the implementation
of the maintenance plans for control of ozone to address the violation but has
not yet acted.  At this time, management is unable to predict how the
EPA will respond or how that response will impact KCP&L’s and GMO’s
operations.  However, the EPA’s response could have a significant
effect on Great Plains Energy's and KCP&L's results of operations, financial
position and cash flows.
  In March
2008, the EPA significantly strengthened its NAAQS for ground-level
ozone.  The EPA revised the primary eight-hour ozone standard,
designed to protect public health, to a level of 0.075 parts per million
(ppm).  The EPA also strengthened the secondary eight-hour ozone
standard to the level of 0.075 ppm making it identical to the revised primary
standard.  The previous primary and secondary standards, set in 1997,
were effectively 0.084 ppm.
  In March
2009, the Missouri Department of Natural Resources (MDNR) and KDHE submitted to
the EPA their determinations that the Kansas City area is a nonattainment
area.  By March 2010, the EPA will make final designations of
attainment and nonattainment areas.  By 2013, states must submit state
implementation plans outlining how states will reduce ozone to meet the
standards in nonattainment areas.  Although the impact on KCP&L’s
and GMO’s operations will not be known until after the final nonattainment
designations and the state implementation plans are submitted, it could have a
significant effect on Great Plains Energy’s and KCP&L’s results of
operations, financial position and cash flows.
  In June
2009, the EPA proposed to strengthen the primary NAAQS for nitrogen dioxide
(NO2).  The
EPA is proposing to establish a new 1-hour NO2 standard
at a level between 0.080 to 0.100 ppm.  The EPA is taking comment on
alternative levels for the 1-hour standard down to 0.065 ppm.  The EPA
is proposing to retain the current annual average NO2 standard
of 0.053 ppm.  As an alternative to the proposed approach, the EPA is
requesting comment on supplementing the current annual standard with a
community-wide 1-hour NO2 standard
in the range of 0.050 to 0.075 ppm.  Although the impact on
KCP&L’s and GMO’s operations will not be known until after the final rules
are promulgated, nonattainment designations approved, and the state
implementation plans submitted, it could have a significant effect on Great
Plains Energy’s and KCP&L’s results of operations, financial position and
cash flows.
  Montrose
Station Notice of Violation
 In June
2009, KCP&L received notification from the MDNR alleging that its Montrose
Station had excess particulate matter emissions in 2008.  KCP&L is
working with the MDNR to resolve this issue and management believes the outcome
will have an insignificant impact to Great Plains Energy’s and KCP&L’s
results of operations, financial position and cash flows.
 43
 Water
Use Regulations
 The Clean
Water Act (Act) establishes standards for cooling water intake
structures.  The EPA had previously issued regulations pursuant to
Section 316(b) of the Act regarding cooling water intake
structures.  Section 316(b) of the Act is designed to protect aquatic
life from being killed or injured by cooling water intake
structures.  Subsequent to an appellate court ruling, the EPA
suspended the regulations and is engaged in further rulemaking on this
matter.  In April 2009, the U.S. Supreme Court ruled that the EPA
permissibly relied on cost-benefit analysis in setting the national performance
standards and in providing for cost-benefit variances from those standards as
part of the applicable 316(b) regulations for minimizing adverse environmental
impact at cooling water intake structures.  At this time, management
is unable to predict how the EPA will respond or how that response will impact
KCP&L’s and GMO’s operations.
  KCP&L
holds a permit from the MDNR covering water discharge from its Hawthorn
Station.  The permit authorizes KCP&L, among other things, to
withdraw water from the Missouri river for cooling purposes and return the
heated water to the Missouri river.  KCP&L has applied for a
renewal of this permit and the EPA has submitted an interim objection letter
regarding the allowable amount of heat that can be contained in the returned
water.  Until this matter is resolved, KCP&L continues to operate
under its current permit.  KCP&L cannot predict the outcome of
this matter; however, while less significant outcomes are possible, this matter
may require KCP&L to reduce its generation at Hawthorn Station, install
cooling towers or both, any of which could have a significant impact on
KCP&L.  The outcome could also affect the terms of water permit
renewals at KCP&L’s Iatan Station and at GMO’s Sibley and Lake Road
Stations.
  Coal
Combustion Products
 Since an
incident at an ash containment area in December 2008 at a Tennessee Valley
Authority site, federal legislation has been introduced and information requests
issued regarding the handling and disposal of coal combustion
products.  In addition, the EPA has indicated it will issue proposed
federal regulations for coal combustion product disposal by the end of this
year.  Coal combustion product-related legislation or regulation has
the potential of having a significant financial and operational impact on
KCP&L and GMO in connection with achieving compliance with the requirements
that may be established.  However, the financial and operational
consequences to Great Plains Energy and KCP&L cannot be determined until
final legislation is passed or regulations enacted.
  Environmental
Remediation
 Some
federal and state laws hold current and previous owners or operators of real
property, and any person who arranges for the disposal or treatment of hazardous
substances at a property, liable for the costs of cleaning up contamination at
or migrating from such real property, even if they did not know of and were not
responsible for such contamination.  Certain laws also authorize the
EPA and other agencies to issue orders compelling potentially responsible
parties to clean up sites that are determined to present an actual or potential
threat to human health or the environment.  GMO is named as a
potentially responsible party at two disposal sites for polychlorinated
biphenyls (PCBs), and retains some environmental liability for several
operations and investments it no longer owns.  In addition, GMO also
owns, or has acquired liabilities from companies that once owned or operated,
former manufactured gas plant (MGP) sites, which are subject to the supervision
of the EPA and various state environmental agencies.
  At June
30, 2009, and December 31, 2008, KCP&L had $0.3 million accrued for
environmental remediation expenses.  The accrual covers ground water
monitoring at a former MGP site.  At June 30, 2009, Great Plains
Energy had $0.5 million accrued for environmental remediation expenses, which
includes the $0.3 million at KCP&L, and additional potential remediation and
ground water monitoring costs relating to two GMO sites.  The amounts
accrued were established on an undiscounted basis and Great Plains Energy and
KCP&L do not currently have an estimated time frame over which the accrued
amounts may be paid.
  In
addition to the $0.5 million accrual above, at June 30, 2009, Great Plains
Energy had $2.0 million accrued for the future investigation and remediation of
certain additional GMO identified MGP sites, PCB sites and retained
 44
 liabilities.  This
estimate was based upon review of the potential costs associated with conducting
investigative and remedial actions at identified sites, as well as the
likelihood of whether such actions will be necessary.  There are also
additional costs that are considered to be less likely but still reasonably
possible to be incurred at these sites.  Based upon the results of
studies at these sites and knowledge and review of potential remedial actions,
it is reasonably possible that these additional costs could exceed the estimate
by approximately $1.3 million.  This estimate could change materially
after further investigation, and could also be affected by the actions of
environmental agencies and the financial viability of other potentially
responsible parties.
  GMO has
pursued recovery of remediation costs from insurance carriers and other
potentially responsible parties.  As a result of a settlement with an
insurance carrier, approximately $2.1 million in insurance proceeds less an
annual deductible is available to GMO to recover qualified MGP remediation
expenses.  GMO would seek recovery of additional remediation costs and
expenses through rate increases; however, there can be no assurance that such
rate increases would be granted.
  14.
                                                              LEGAL
      PROCEEDINGS
  Kansas
City Power & Light Company v. Union Pacific Railroad Company
 In
October 2005, KCP&L filed a rate complaint case with the Surface
Transportation Board (STB) charging that Union Pacific Railroad Company’s (Union
Pacific) rates for transporting coal from the Powder River Basin (PRB) in
Wyoming to KCP&L’s Montrose Station are unreasonably high.  Prior
to the end of 2005, the rates were established under a contract with Union
Pacific.  Efforts to extend the term of the contract were unsuccessful
and Union Pacific is the only service for coal transportation from the PRB to
Montrose Station.  KCP&L charged that Union Pacific possesses
market dominance over the traffic and requested the STB prescribe maximum
reasonable rates.
  On May
16, 2008, the STB found that the rates Union Pacific charged on coal movement
from the PRB to KCP&L’s Montrose Station exceeded the maximum reasonable
rate of 180% of variable costs.  Consequently, the STB prescribed a
maximum reasonable rate of 180% of variable costs until the end of
2015.  Additionally, the STB ordered reparations to be paid, with
interest, for coal deliveries made from January 1, 2006 through the date a new
rate is established.  KCP&L has received approximately $3.5
million for reparations and interest for 2006 and 2007 coal
deliveries.  Reparations for subsequent periods cannot be calculated
at this time because actual costs for the period have not been
finalized.  Union Pacific did not appeal the decision.
  KCP&L
Hawthorn No. 5 Litigation
 KCP&L
received reimbursement for the 1999 Hawthorn No. 5 boiler explosion under a
property damage insurance policy with Travelers Property Casualty Company of
America (Travelers).  Travelers filed suit in the U.S. District Court
for the Eastern District of Missouri in November 2005, against National Union
Fire Insurance Company of Pittsburgh, Pennsylvania, (National Union) and
KCP&L was added as a defendant in June 2006.  The case was
subsequently transferred to the U.S. District Court for the Western District of
Missouri.  Travelers sought recovery of $10 million that KCP&L
recovered through subrogation litigation.  On July 24, 2008, the Court
held that Travelers is not entitled to any recovery from
KCP&L.  Travelers appealed this decision on March 11,
2009.
  KCP&L
Spent Nuclear Fuel and Radioactive Waste
 In 2004,
KCP&L and the other two Wolf Creek owners filed suit against the United
States in the U.S. Court of Federal Claims seeking an unspecified amount of
monetary damages resulting from the government’s failure to begin accepting
spent nuclear fuel for disposal in January 1998, as the government was required
to do by the Nuclear Waste Policy Act of 1982.  Approximately
sixty-five other similar cases were filed with that court, a few of which have
settled.  To date, the court has rendered final decisions in several
of the cases, most of which are on appeal now.  The Wolf Creek case
was on a court-ordered stay to allow for some of the earlier cases to be decided
first by an appellate court; however, the case entered the discovery phase
in May 2009 and could be set for trial sometime in 2010.  Another
Federal appellate court has already determined that the government breached its
 45
 obligation
to begin accepting spent fuel for disposal.  The questions now before
the court in the pending cases are whether and to what extent the utilities are
entitled to monetary damages for that breach.
  Iatan
Levee Litigation
 On May
22, 2009, several farmers filed suit against Great Plains Energy and KCP&L
alleging negligence, private nuisance, trespass and violations of the Missouri
Crop Protection Act.  These allegations stem from flooding at or near
the Iatan Station in 2007 and 2008.  The farmers allege the flooding
was a result of maintenance of a nearby levee.  The petition seeks
class certification from the courts.  Management cannot predict the
outcome of this matter.
  GMO
Price Reporting Litigation
 In
response to complaints of manipulation of the California energy market, in 2002
FERC issued an order requiring net sellers of power in the California markets
from October 2, 2000, through June 20, 2001, at prices above a FERC
determined competitive market clearing price to make refunds to net purchasers
of power in the California market during that time period.  Because
MPS Merchant was a net purchaser of power during the refund period it has
received approximately $8 million in refunds.  MPS Merchant estimates
that it is entitled to approximately an additional $10 million in refunds under
the standards FERC has used in this case.  FERC has stated that
interest will be applied to the refunds but the amount of interest has not yet
been determined.  However, various parties appealed the FERC order to
the United States Court of Appeals for the Ninth Circuit seeking review of a
number of issues, including changing the refund period to include periods prior
to October 2, 2000.  MPS Merchant was a net seller of power
during the period prior to October 2, 2000.  On August 2, 2006, the
U.S. Court of Appeals for the Ninth Circuit issued an order finding, among other
things, that FERC did not provide a sufficient justification for refusing to
exercise its remedial authority under the Federal Power Act to determine whether
market participants violated FERC-approved tariffs during the period prior to
October 2, 2000, and imposing a remedy for any such violations.  The
court remanded the matter to FERC to determine whether tariff violations
occurred and, if so, the appropriate remedy.  In March 2008, FERC
issued an order declining to order refunds for the period prior to October 2,
2000.  That order has been appealed to the U.S. Court of Appeals for
the Ninth Circuit.  If FERC ultimately includes that period, MPS
Merchant could be found to owe refunds.
  FERC
initiated a docket, generally referred to as the Pacific Northwest refund
proceeding, to determine if any refunds were warranted related to the potential
impact of the California market issues on buyers in the Pacific Northwest
between December 25, 2000, and June 20, 2001.  Claims against MPS
Merchant total $5.1 million.
  On
October 6, 2006, the MPSC filed suit in the Circuit Court of Jackson County,
Missouri against 18 companies, including GMO and MPS Merchant alleging that the
companies manipulated natural gas prices through the misreporting of natural gas
trade data and, therefore, violated Missouri antitrust laws.  The suit
does not specify alleged damages and was filed on behalf of all local
distribution gas companies in Missouri who bought and sold natural gas from June
2000 to October 2002.  The defendants’ motions to dismiss the case
were granted in January 2009.  The MPSC has appealed the dismissal to
the Missouri Court of Appeals for the Western District of Missouri.
  The
ultimate outcome of these matters cannot be predicted.
  GMO
South Harper Peaking Facility
 GMO
constructed a 315 MW natural gas power plant and related substation in an
unincorporated area of Cass County, Missouri.  Cass County and local
residents filed suit claiming that county approval was required to construct the
project.  In April 2008, GMO entered into an agreement with Cass
County pursuant to which it filed and Cass County approved a land use
application for the South Harper facilities.  GMO entered into a final
settlement agreement with the members of StopAquila.org, an unincorporated
association of approximately 100 individuals who opposed the facilities, and has
settled all seven of the original private lawsuits filed by Cass County
residents alleging that the facilities constitute a public and private
nuisance.  In August 2008, a law took effect that granted the MPSC the
authority to retroactively approve the development and construction of the South
 46
 Harper
facilities.  GMO filed an application with the MPSC and reached a
stipulation and agreement with the parties.  On March 18, 2009, the
MPSC issued an order approving the agreement.
  GMO
Coal Supply Litigation
 In the
spring of 2005, one of GMO’s coal suppliers, C.W. Mining, terminated a
long-term, fixed price coal supply agreement allegedly because of a force
majeure event.  GMO incurred significant costs procuring replacement
coal and disputed that the supplier was entitled to terminate the
contract.  GMO filed a lawsuit against the supplier in federal court
in Salt Lake City and the trial was held in February 2007.  On October
29, 2007, the United States District Court for the District of Utah, Central
Division held that C.W. Mining's performance under the coal contract was not
excused by a force majeure event and awarded GMO $24.8 million in
damages.  In order to preserve and recover on its claim, on January 8,
2008, GMO participated in the filing of an involuntary Chapter 11 bankruptcy
petition against C.W. Mining in the United States Bankruptcy Court in Salt Lake
City, Utah.  In September 2008, the Bankruptcy Court granted GMO’s
motions for partial summary judgment, effectively putting C.W. Mining into
bankruptcy.  On November 11, 2008, GMO’s Motion to Appoint a Trustee
was granted.
  Everest
Minority Shareholder Litigation
 On
October 11, 2006, minority shareholders of a former subsidiary of GMO brought
suit against GMO in Circuit Court in St. Charles County, Missouri, asserting
that they are entitled to put their shares to GMO for approximately $5 million
because the subsidiary failed to obtain 30,000 customers by the end of
2004.  Under the put agreement, if there was a dispute regarding the
customer count, it was to be resolved by an audit firm.  GMO has paid
$2.3 million to the minority shareholders under related market-based put
provisions.  The audit firm issued a report stating that the customer
count was met.  Discovery in this case is continuing.
  SEC
Informal Inquiry
 The
enforcement staff of the SEC conducted an informal inquiry relating to common
stock relinquishments by certain officers on February 6 and 7, 2009, shortly
before issuance of the Company’s February 10, 2009, press release disclosing,
among other things, a reduction in its common stock dividend.  The
relinquished stock represented a portion of restricted shares issued in 2006 and
2007 pursuant to the Company’s Amended Long-Term Incentive Plan, all of which
vested on February 6 and 7, 2009.  The officers elected to relinquish
a portion of the vested shares, in lieu of paying cash, to the Company to meet
their withholding tax obligations which arose in connection with the vesting of
those shares.  On February 10, 2009, those officers with reporting
obligations under the federal securities laws filed Forms 4 with the SEC
disclosing their relinquishments.  On June 24, 2009, Great Plains
Energy was formally notified that the staff’s investigation has been completed
and that staff does not intend to recommend any enforcement action by the
SEC.
  15.
                                                              RELATED
      PARTY TRANSACTIONS AND
RELATIONSHIPS
  KCP&L
employees manage GMO’s business and operate its facilities at
cost.  These costs totaled $25.6 million and $50.6 million,
respectively, for the three months ended and year to date June 30,
2009.  Additionally, KCP&L and GMO engage in wholesale electricity
transactions with each other.  In 2008, KCP&L received various
support and administrative services from Services and for the three months ended
and year to date June 30, 2008, these costs totaled $3.6 million and $7.5
million, respectively.  In December 2008, employees and assets of
Services were transferred to KCP&L.  KCP&L and GMO are also
authorized to participate in the Great Plains Energy money pool.  The
money pool is an internal financing arrangement in which funds deposited into
the money pool may be lent on a short-term basis to KCP&L and
GMO.
 47
 The
following table summarizes KCP&L’s related party receivables and
payables.
 June
      30
                                                                                                                        
                                                                                                                        December
      312009
                                                                                                                        
                                                                                                                        2008(millions)Receivable
      from GMO
                                                                                                                        
                                                                                                                        $
                                                                                                                        16.2
                                                                                                                        
                                                                                                                        
                                                                                                                        $
                                                                                                                        23.7Receivable
      from Services
                                                                                                                        
                                                                                                                        
                                                                                                                        0.3
                                                                                                                        
                                                                                                                        
                                                                                                                        
                                                                                                                        4.8Receivable
      from (payable to) Great Plains Energy
                                                                                                                        
                                                                                                                        
                                                                                                                        14.8
                                                                                                                        
                                                                                                                        
                                                                                                                        
                                                                                                                        (1.2
                                                                                                                        )Payable
      to MPS Merchant
                                                                                                                        
                                                                                                                        
                                                                                                                        (3.4
                                                                                                                        )
                                                                                                                        
                                                                                                                        
                                                                                                                        (3.4
                                                                                                                        )
 16.
                                                                DERIVATIVE
      INSTRUMENTS
  The
Company is exposed to a variety of market risks including interest rates and
commodity prices.  Management has established risk management policies
and strategies to reduce the potentially adverse effects that the volatility of
the markets may have on the Company’s operating results.  The risk
management activities, including the use of derivative instruments, are subject
to the management, direction and control of an internal risk management
committee.  Management’s interest rate risk management strategy uses
derivative instruments to adjust the Company’s liability portfolio to optimize
the mix of fixed and floating rate debt within an established
range.  In addition, the Company uses derivative instruments to hedge
against future interest rate fluctuations on anticipated debt
issuances.  Management maintains commodity price risk management
strategies that use derivative instruments to reduce the effects of fluctuations
in fuel expense caused by commodity price volatility.  Counterparties
to commodity derivatives and interest rate swap agreements expose the Company to
credit loss in the event of nonperformance.  This credit loss is
limited to the cost of replacing these contracts at current market
rates.  Derivative instruments, excluding those instruments that
qualify for the normal purchase normal sale election, which are accounted for by
accrual accounting, are recorded on the balance sheet at fair value as an asset
or liability.  Changes in the fair value of derivative instruments are
recognized currently in net income unless specific hedge accounting criteria are
met, except GMO utility operations hedges that are recorded to a regulatory
asset or liability consistent with MPSC regulatory orders, as discussed
below.
  The
Company has posted collateral, in the normal course of business, for the
aggregate fair value of all derivative instruments with credit risk-related
contingent features that are in a liability position.  If the credit
risk-related contingent features underlying these agreements were triggered, the
Company would be required to post an insignificant amount of collateral to its
counterparties.
  Interest
Rate Risk Management
 Forward
Starting Swaps
 In July
2007, Great Plains Energy entered into three FSS, with a total notional amount
of $250.0 million, to hedge against interest rate fluctuations on future
issuances of long-term debt.  The FSS removed most of the interest
rate and credit spread uncertainty with respect to debt to be issued, thereby
enabling Great Plains Energy to predict with greater assurance its future
interest costs on that debt.  The FSS were originally for anticipated
financing related to the GMO acquisition and were treated as economic hedges
(non-hedging derivatives).  Due to a change in financing plans during
the second quarter of 2008, Great Plains Energy redesignated the FSS from
economic hedges to cash flow hedges.  Prior to the redesignation, the
change in the fair value of the FSS decreased interest expense by $12.7 million
and increased interest expense by $9.2 million for the three months ended and
year to date June 30, 2008, respectively.  Subsequent to the
redesignation, the FSS were accounted for as cash flow hedges and no
ineffectiveness was recorded on the FSS in the second quarter of
2008.  Due to another change in financing plans, Great Plains Energy
assigned the FSS to KCP&L.  In the first quarter of 2009,
KCP&L issued $400.0 million of long-term debt and the FSS settled
simultaneously with the issuance of this long-term fixed rate debt.  A
pre-tax loss of $53.4 million was recorded to OCI and is being reclassified to
interest expense over the life of the ten-year debt.  For the three
months ended and year to date June 30, 2009, $1.3 million and $1.4
 48
 million,
respectively, of the loss has been reclassified from OCI to interest
expense.  At June 30, 2009, KCP&L had $52.0 million recorded in
accumulated OCI for the FSS.
  Treasury
Locks
 In the
first quarter of 2008, KCP&L issued $350.0 million of long-term debt and
settled three T-Locks simultaneously with the issuance of this long-term fixed
rate debt.  The T-Locks were accounted for as cash flow hedges and
KCP&L’s interest expense year to date June 30, 2008, included a loss of $0.7
million  due to ineffectiveness of the cash flow hedge.  A
pre-tax loss of $39.1 million was recorded to OCI and is being reclassified to
interest expense over the life of the ten-year debt.  For the three
months ended and year to date June 30, 2009, $1.1 million and $2.1 million,
respectively, of the loss has been reclassified from OCI to interest
expense.  An insignificant amount was reclassified from OCI to
interest expense year to date June 30, 2008.
  Commodity
Risk Management
 KCP&L’s
risk management policy is to use derivative instruments to mitigate its exposure
to market price fluctuations on a portion of its projected natural gas purchases
to meet generation requirements for retail and firm wholesale
sales.  At June 30, 2009, KCP&L has hedged 41%, 4% and 4%,
respectively, of its 2009, 2010 and 2011 projected natural gas usage for retail
load and firm MWh sales, primarily by utilizing futures contracts and financial
instruments.  The fair values of these instruments are recorded as
current assets or current liabilities with an offsetting entry to OCI for the
effective portion of the hedge.  To the extent the hedges are not
effective, any ineffective portion of the change in fair market value would be
recorded currently in fuel expense.
  KCP&L
uses derivative instruments to mitigate its exposure to market price
fluctuations on a portion of the projected fuel oil purchases to meet the
startup requirements for Iatan No. 2.  At June 30, 2009, KCP&L has
hedged 15% of the projected fuel oil purchases for the startup of Iatan No. 2
utilizing futures contracts.  The fair values of these instruments are
recorded as current assets or current liabilities with an offsetting entry to
OCI for the effective portion of the hedge.
  GMO’s
price risk policy is to use derivative instruments to mitigate price exposure to
natural gas price volatility in the market.  This program extends
multiple years and the mark-to-market value of the portfolio relates to
financial contracts that will settle against actual purchases of natural gas and
purchased power in 2009 through 2010.  At June 30, 2009, GMO had
financial contracts in place to hedge approximately 60% and 27% of the expected
on-peak natural gas and natural gas equivalent purchased power price exposure
for the remainder of 2009 and 2010, respectively.  In connection with
GMO’s 2005 Missouri electric rate case, it was agreed that the settlement costs
of these contracts would be recognized in fuel expense.  The
settlement cost is included in GMO’s Missouri fuel adjustment
clause.  A regulatory asset has been recordedto reflect the change
in the timing of recognition authorized by the MPSC.  To the extent
that recovery of actual costs incurred is allowed, amounts will not impact
earnings, but will impact cash flows due to the timing of the recovery
mechanism.
  MPS
Merchant manages the daily delivery of its remaining contractual commitments to
reduce its exposure to changes in market prices with economic hedges
(non-hedging derivative).  Within the trading portfolio, MPS Merchant
takes certain positions to hedge physical sale or purchase
contracts.  MPS Merchant records trading energy contracts, both
physical and financial, at fair value in accordance with SFAS No. 133,
“Accounting for Derivative Instruments and Hedging
Activities.”  Changes in fair value are recorded in the consolidated
statements of income in non-operating income and on the consolidated balance
sheets in derivative assets or liabilities.  For the three months
ended and year to date June 30, 2009, MPS Merchant recorded increases of $0.7
million and $0.6 million, respectively, to non-operating income.
 49
  The
notional and recorded fair values of the companies’ open positions for
derivative instruments are summarized in the following table.  The
fair values of these derivatives are recorded on the consolidated balance
sheets.  The fair values below are gross values, before the Financial
Accounting Standards Board Interpretation (FIN) No. 39, “Offsetting of Amounts
Related to Certain Contracts,” netting of cash collateral.
 June
      30
                                                                                              
                                                                                              December
      312009
                                                                                              
                                                                                              2008Notional
                                                                                              
                                                                                              
                                                                                              
                                                                                              NotionalContract
                                                                                              Fair
                                                                                              
                                                                                              Contract
                                                                                              FairAmount
                                                                                              Value
                                                                                              
                                                                                              Amount
                                                                                              ValueGreat
      Plains Energy
                                                                                              (millions)Swap
      contractsCash
      flow hedges
                                                                                              $
                                                                                              0.7
                                                                                              
                                                                                              $
                                                                                              (0.4
                                                                                              )
                                                                                              
                                                                                              $
                                                                                              0.7
                                                                                              
                                                                                              $
                                                                                              (0.2
                                                                                              )Non-hedging
      derivatives
                                                                                              
                                                                                              -
                                                                                              
                                                                                              
                                                                                              -
                                                                                              
                                                                                              
                                                                                              
                                                                                              46.2
                                                                                              
                                                                                              
                                                                                              (7.4
                                                                                              )Forward
      contractsCash
      flow hedges
                                                                                              
                                                                                              8.6
                                                                                              
                                                                                              
                                                                                              0.4
                                                                                              
                                                                                              
                                                                                              
                                                                                              4.5
                                                                                              
                                                                                              
                                                                                              0.6Non-hedging
      derivatives
                                                                                              
                                                                                              306.8
                                                                                              
                                                                                              
                                                                                              3.8
                                                                                              
                                                                                              
                                                                                              
                                                                                              317.3
                                                                                              
                                                                                              
                                                                                              7.8Option
      contractsNon-hedging
      derivatives
                                                                                              
                                                                                              12.8
                                                                                              
                                                                                              
                                                                                              (0.6
                                                                                              )
                                                                                              
                                                                                              
                                                                                              28.2
                                                                                              
                                                                                              
                                                                                              0.2Anticipated
      debt issuanceForward
      starting swap
                                                                                              
                                                                                              -
                                                                                              
                                                                                              
                                                                                              -
                                                                                              
                                                                                              
                                                                                              
                                                                                              250.0
                                                                                              
                                                                                              
                                                                                              (80.1
                                                                                              )KCP&LSwap
      contractsCash
      flow hedges
                                                                                              
                                                                                              0.7
                                                                                              
                                                                                              
                                                                                              (0.4
                                                                                              )
                                                                                              
                                                                                              
                                                                                              0.7
                                                                                              
                                                                                              
                                                                                              (0.2
                                                                                              )Forward
      contractsCash
      flow hedges
                                                                                              
                                                                                              8.6
                                                                                              
                                                                                              
                                                                                              0.4
                                                                                              
                                                                                              
                                                                                              
                                                                                              4.5
                                                                                              
                                                                                              
                                                                                              0.6Anticipated
      debt issuanceForward
      starting swap
                                                                                              
                                                                                              -
                                                                                              
                                                                                              
                                                                                              -
                                                                                              
                                                                                              
                                                                                              
                                                                                              250.0
                                                                                              
                                                                                              
                                                                                              (80.1
                                                                                              )
 The fair
value of Great Plains Energy’s and KCP&L’s open derivative positions are
summarized in the following tables.  The tables contain derivative
instruments designated as hedging instruments under SFAS No. 133, as well as
derivative instruments not designated as hedging instruments (non-hedging
derivatives) under SFAS No. 133.  The fair values below are gross
values before the FIN No. 39 netting of cash collateral.
 Great
      Plains EnergyBalance
      Sheet
                                                                                                  Asset
      Derivatives
                                                                                                  Liability
      DerivativesJune
      30, 2009
                                                                                                  Classification
                                                                                                  Fair
      Value
                                                                                                  Fair
      ValueDerivatives
      Designated as Hedging Instruments
                                                                                                  
                                                                                                  (millions)Commodity
      contracts
                                                                                                  Derivative
      instruments
                                                                                                  $
                                                                                                  0.8
                                                                                                  
                                                                                                  $
                                                                                                  0.8Derivatives
      Not Designated as Hedging InstrumentsCommodity
      contracts
                                                                                                  Derivative
      instruments
                                                                                                  
                                                                                                  8.8
                                                                                                  
                                                                                                  
                                                                                                  5.6Total
      Derivatives
                                                                                                  
                                                                                                  $
                                                                                                  9.6
                                                                                                  
                                                                                                  $
                                                                                                  6.4
 KCP&LBalance
      Sheet
                                                                                            Asset
      Derivatives
                                                                                            Liability
      DerivativesJune
      30, 2009
                                                                                            Classification
                                                                                            Fair
      Value
                                                                                            Fair
      ValueDerivatives
      Designated as Hedging Instruments
                                                                                            
                                                                                            (millions)Commodity
      contracts
                                                                                            Derivative
      instruments
                                                                                            $
                                                                                            0.8
                                                                                            
                                                                                            $
                                                                                            0.8 50
 The
following tables summarize the amount of gain (loss) recognized in OCI or
earnings for interest rate and commodity hedges.
 Derivatives
      in SFAS No. 133 Cash Flow Hedging RelationshipGain
      (Loss) Reclassified fromAccumulated
      OCI into Income(Effective
      Portion)Amount
      of Gain(Loss)
      Recognizedin
      OCI on Derivatives
                                                                                                                                        Income
      StatementThree
      Months Ended June 30, 2009
                                                                                                                                        (Effective
      Portion)
                                                                                                                                        Classification
                                                                                                                                        AmountGreat
      Plains Energy
                                                                                                                                        (millions)
                                                                                                                                        
                                                                                                                                        (millions)Interest
      rate contracts
                                                                                                                                        $
                                                                                                                                        -
                                                                                                                                        
                                                                                                                                        Interest
      Charges
                                                                                                                                        $
                                                                                                                                        (2.4
                                                                                                                                        )Commodity
      contracts
                                                                                                                                        
                                                                                                                                        0.7
                                                                                                                                        
                                                                                                                                        Fuel
                                                                                                                                        
                                                                                                                                        -Income
      tax benefit (expense)
                                                                                                                                        
                                                                                                                                        (0.2
                                                                                                                                        )
                                                                                                                                        Income
      Tax Benefit (Expense)
                                                                                                                                        1.2Total
                                                                                                                                        $
                                                                                                                                        0.5
                                                                                                                                        
                                                                                                                                        Total
                                                                                                                                        $
                                                                                                                                        (1.2
                                                                                                                                        )KCP&LInterest
      rate contracts
                                                                                                                                        $
                                                                                                                                        -
                                                                                                                                        
                                                                                                                                        Interest
      Charges
                                                                                                                                        $
                                                                                                                                        (2.1
                                                                                                                                        )Commodity
      contracts
                                                                                                                                        
                                                                                                                                        0.7
                                                                                                                                        
                                                                                                                                        Fuel
                                                                                                                                        
                                                                                                                                        -Income
      tax benefit (expense)
                                                                                                                                        
                                                                                                                                        (0.2
                                                                                                                                        )
                                                                                                                                        Income
      Tax Benefit (Expense)
                                                                                                                                        0.8Total
                                                                                                                                        $
                                                                                                                                        0.5
                                                                                                                                        
                                                                                                                                        Total
                                                                                                                                        $
                                                                                                                                        (1.3
                                                                                                                                        )
 Derivatives
      in SFAS No. 133 Cash Flow Hedging RelationshipGain
      (Loss) Reclassified fromAccumulated
      OCI into Income(Effective
      Portion)Amount
      of Gain(Loss)
      Recognizedin
      OCI on Derivatives
                                                                                                                    Income
      StatementYear
      to Date June 30, 2009
                                                                                                                    (Effective
      Portion)
                                                                                                                    Classification
                                                                                                                    AmountGreat
      Plains Energy
                                                                                                                    (millions)
                                                                                                                    
                                                                                                                    (millions)Interest
      rate contracts
                                                                                                                    $
                                                                                                                    1.0
                                                                                                                    
                                                                                                                    Interest
      Charges
                                                                                                                    $
                                                                                                                    (3.5
                                                                                                                    )Commodity
      contracts
                                                                                                                    
                                                                                                                    (0.3
                                                                                                                    )
                                                                                                                    Fuel
                                                                                                                    
                                                                                                                    -Income
      tax benefit (expense)
                                                                                                                    
                                                                                                                    (0.2
                                                                                                                    )
                                                                                                                    Income
      Tax Benefit (Expense)
                                                                                                                    1.5Total
                                                                                                                    $
                                                                                                                    0.5
                                                                                                                    
                                                                                                                    Total
                                                                                                                    $
                                                                                                                    (2.0
                                                                                                                    )KCP&LInterest
      rate contracts
                                                                                                                    $
                                                                                                                    1.0
                                                                                                                    
                                                                                                                    Interest
      Charges
                                                                                                                    $
                                                                                                                    (3.1
                                                                                                                    )Commodity
      contracts
                                                                                                                    
                                                                                                                    (0.3
                                                                                                                    )
                                                                                                                    Fuel
                                                                                                                    
                                                                                                                    -Income
      tax benefit (expense)
                                                                                                                    
                                                                                                                    (0.2
                                                                                                                    )
                                                                                                                    Income
      Tax Benefit (Expense)
                                                                                                                    1.2Total
                                                                                                                    $
                                                                                                                    0.5
                                                                                                                    
                                                                                                                    Total
                                                                                                                    $
                                                                                                                    (1.9
                                                                                                                    ) 51
 The
following tables summarize the amount of gain (loss) recognized in a regulatory
balance sheet account or earnings for GMO utility commodity
hedges.  GMO utility commodity derivatives fair value changes are
recorded to either a regulatory asset or liability consistent with MPSC
regulatory
orders.
 Derivatives
      in SFAS No. 133 Regulatory Account RelationshipGain
      (Loss) Reclassified fromRegulatory
      AccountAmount
      of Gain (Loss)Recognized
      on RegulatoryAccount
      on Derivatives
                                                                                                                  Income
      StatementThree
      Months Ended June 30, 2009
                                                                                                                  (Effective
      Portion)
                                                                                                                  Classification
                                                                                                                  AmountGreat
      Plains Energy
                                                                                                                  (millions)
                                                                                                                  
                                                                                                                  (millions)Commodity
      contracts
                                                                                                                  $
                                                                                                                  0.9
                                                                                                                  
                                                                                                                  Fuel
                                                                                                                  $
                                                                                                                  (3.0
                                                                                                                  )Total
                                                                                                                  $
                                                                                                                  0.9
                                                                                                                  
                                                                                                                  Total
                                                                                                                  $
                                                                                                                  (3.0
                                                                                                                  )Year
      to Date June 30, 2009Great
      Plains EnergyCommodity
      contracts
                                                                                                                  $
                                                                                                                  (10.9
                                                                                                                  )
                                                                                                                  Fuel
                                                                                                                  $
                                                                                                                  (6.1
                                                                                                                  )Total
                                                                                                                  $
                                                                                                                  (10.9
                                                                                                                  )
                                                                                                                  Total
                                                                                                                  $
                                                                                                                  (6.1
                                                                                                                  )
 The
following tables represent the change in fair value of the MPS Merchant
non-hedging derivatives.
 Derivatives
      Not Designated as Hedging Instruments Under SFAS No.
133Amount
      of Gain (Loss)Income
      Statement
                                                                                                Recognized
      in IncomeThree
      Months Ended June 30, 2009
                                                                                                Classification
                                                                                                on
      DerivativeGreat
      Plains Energy
                                                                                                
                                                                                                (millions)Commodity
      contracts
                                                                                                Non-operating
      income
                                                                                                $
                                                                                                0.7Total
                                                                                                
                                                                                                $
                                                                                                0.7Year
      to Date June 30, 2009Great
      Plains EnergyCommodity
      contracts
                                                                                                Non-operating
      income
                                                                                                $
                                                                                                0.6Total
                                                                                                
                                                                                                $
                                                                                                0.6
 The
amounts recorded in accumulated OCI related to the cash flow hedges are
summarized in the following table.
 Great
      Plains Energy
                                                                                                
                                                                                                KCP&LJune
      30
                                                                                                December
      31
                                                                                                
                                                                                                June
      30
                                                                                                December
      312009
                                                                                                2008
                                                                                                
                                                                                                2009
                                                                                                2008(millions)Current
      assets
                                                                                                $
                                                                                                13.5
                                                                                                
                                                                                                $
                                                                                                13.7
                                                                                                
                                                                                                
                                                                                                $
                                                                                                13.5
                                                                                                
                                                                                                $
                                                                                                13.7Current
      liabilities
                                                                                                
                                                                                                (90.3
                                                                                                )
                                                                                                
                                                                                                (94.6
                                                                                                )
                                                                                                
                                                                                                
                                                                                                (86.5
                                                                                                )
                                                                                                
                                                                                                (90.5
                                                                                                )Deferred
      income taxes
                                                                                                
                                                                                                29.9
                                                                                                
                                                                                                
                                                                                                31.5
                                                                                                
                                                                                                
                                                                                                
                                                                                                28.5
                                                                                                
                                                                                                
                                                                                                29.9Total
                                                                                                $
                                                                                                (46.9
                                                                                                )
                                                                                                $
                                                                                                (49.4
                                                                                                )
                                                                                                
                                                                                                $
                                                                                                (44.5
                                                                                                )
                                                                                                $
                                                                                                (46.9
                                                                                                )
 Great
Plains Energy’s accumulated OCI in the table above at June 30, 2009, includes
$10.5 million that is expected to be reclassified to expenses over the next
twelve months.  KCP&L’s accumulated OCI includes $9.1 million that
is expected to be reclassified to expense over the next twelve
months.
 52
 The
amounts reclassified to expenses are summarized in the following
table.
 Three
      Months Ended
                                                                                                          Year
      to DateJune
      30
                                                                                                          June
      302009
                                                                                                          2008
                                                                                                          2009
                                                                                                          2008Great
      Plains Energy
                                                                                                          (millions)Interest
      expense
                                                                                                          $
                                                                                                          2.4
                                                                                                          
                                                                                                          $
                                                                                                          0.9
                                                                                                          
                                                                                                          $
                                                                                                          3.5
                                                                                                          
                                                                                                          $
                                                                                                          1.0Income
      tax benefit (expense)
                                                                                                          
                                                                                                          (1.2
                                                                                                          )
                                                                                                          
                                                                                                          (0.2
                                                                                                          )
                                                                                                          
                                                                                                          (1.5
                                                                                                          )
                                                                                                          
                                                                                                          (0.3
                                                                                                          )Loss
      from discontinued operationsPurchased
      power expense
                                                                                                          
                                                                                                          -
                                                                                                          
                                                                                                          
                                                                                                          (110.2
                                                                                                          )
                                                                                                          
                                                                                                          -
                                                                                                          
                                                                                                          
                                                                                                          (106.1
                                                                                                          )Income
      tax benefit (expense)
                                                                                                          
                                                                                                          -
                                                                                                          
                                                                                                          
                                                                                                          45.5
                                                                                                          
                                                                                                          
                                                                                                          -
                                                                                                          
                                                                                                          
                                                                                                          43.8OCI
                                                                                                          $
                                                                                                          1.2
                                                                                                          
                                                                                                          $
                                                                                                          (64.0
                                                                                                          )
                                                                                                          $
                                                                                                          2.0
                                                                                                          
                                                                                                          $
                                                                                                          (61.6
                                                                                                          )KCP&LInterest
      expense
                                                                                                          $
                                                                                                          2.1
                                                                                                          
                                                                                                          $
                                                                                                          0.8
                                                                                                          
                                                                                                          $
                                                                                                          3.1
                                                                                                          
                                                                                                          $
                                                                                                          0.8Income
      tax benefit (expense)
                                                                                                          
                                                                                                          (0.8
                                                                                                          )
                                                                                                          
                                                                                                          (0.2
                                                                                                          )
                                                                                                          
                                                                                                          (1.2
                                                                                                          )
                                                                                                          
                                                                                                          (0.2
                                                                                                          )OCI
                                                                                                          $
                                                                                                          1.3
                                                                                                          
                                                                                                          $
                                                                                                          0.6
                                                                                                          
                                                                                                          $
                                                                                                          1.9
                                                                                                          
                                                                                                          $
                                                                                                          0.6
 17.
                                                              FAIR
      VALUE MEASUREMENTS
  SFAS No.
157, “Fair Value Measurements,” defines fair value, establishes a framework for
measuring fair value in GAAP and requires disclosures about fair value
measurements.  SFAS No. 157 defines fair value as the price that would
be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date.  SFAS
No. 157 establishes a fair value hierarchy, which prioritizes the inputs to
valuation techniques used to measure fair value into three broad categories,
giving the highest priority to quoted prices in active markets for identical
assets or liabilities and lowest priority to unobservable inputs.  A
definition of the various levels, as well as discussion of the various Company
measurements within the levels is as follows:
  Level 1 –
Unadjusted quoted prices for identical assets or liabilities in active markets
that the Company has access to at the measurement date.  Assets
categorized within this level consist of Great Plains Energy’s and KCP&L’s
various exchange traded derivative instruments and equity and U.S. Treasury
securities that are actively traded within KCP&L’s decommissioning trust
fund and GMO’s SERP rabbi trust fund.
  Level 2 –
Market-based inputs for assets or liabilities that are observable (either
directly or indirectly) or inputs that are not observable but are corroborated
by market data.  Assets and liabilities categorized within this level
consist of KCP&L’s and Great Plains Energy’s various non-exchange traded
derivative instruments traded in over-the-counter markets and certain debt
securities within KCP&L’s decommissioning trust fund and GMO’s SERP rabbi
trust fund.
  Level 3 –
Unobservable inputs, reflecting the Company’s own assumptions about the
assumptions market participants would use in pricing the asset or
liability.  Assets categorized within this level consist of Great
Plains Energy’s various non-exchange traded derivative instruments traded in
over-the-counter markets and certain debt securities within KCP&L’s
decommissioning trust fund for which sufficiently observable market data is not
available to corroborate the valuation inputs.
 53
 The
following tables include Great Plains Energy’s and KCP&L’s balances of
financial assets and liabilities measured at fair value on a recurring basis at
June 30, 2009, and December 31, 2008.
 Fair
      Value Measurements UsingDescription
                                                                                                  
                                                                                                  June
      30
                                                                                                    2009
                                                                                                  
                                                                                                  FIN
      No. 39
                                                                                                    Netting(c)
                                                                                                  
                                                                                                  Quoted
      Prices in Active Markets for Identical Assets
                                                                                                    (Level
      1)
                                                                                                  
                                                                                                  Significant
      Other Observable Inputs
                                                                                                    (Level
      2)
                                                                                                  
                                                                                                  Significant
      Unobservable Inputs
                                                                                                    (Level
      3)KCP&L
                                                                                                  
                                                                                                  (millions)AssetsDerivative
      instruments (a)
                                                                                                  
                                                                                                  $              0.4
                                                                                                  
                                                                                                  $         (0.4)
                                                                                                  
                                                                                                  $            0.4
                                                                                                  
                                                                                                  $            0.4
                                                                                                  
                                                                                                  $                   -Nuclear
      decommissioning trust (b)Equity
      securities
                                                                                                  
                                                                                                  35.9
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  35.9
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  -Debt
      securitiesU.S.
      Treasury
                                                                                                  
                                                                                                  18.8
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  18.8
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  -U.S.
      Agency
                                                                                                  
                                                                                                  9.0
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  6.1
                                                                                                  
                                                                                                  2.9State
      and local obligations
                                                                                                  
                                                                                                  4.5
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  4.0
                                                                                                  
                                                                                                  0.5Corporate
      bonds
                                                                                                  
                                                                                                  21.4
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  21.4
                                                                                                  
                                                                                                  -Mortgage
      backed securities
                                                                                                  
                                                                                                  3.8
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  0.3
                                                                                                  
                                                                                                  3.5Other
                                                                                                  
                                                                                                  0.9
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  0.9
                                                                                                  
                                                                                                  -Total
      Nuclear Decommissioning Trust
                                                                                                  94.3
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  54.7
                                                                                                  
                                                                                                  32.7
                                                                                                  
                                                                                                  6.9Total
                                                                                                  
                                                                                                  94.7
                                                                                                  
                                                                                                  (0.4)
                                                                                                  
                                                                                                  55.1
                                                                                                  
                                                                                                  33.1
                                                                                                  
                                                                                                  6.9LiabilitiesDerivative
      instruments (a)
                                                                                                  
                                                                                                  0.4
                                                                                                  
                                                                                                  (0.4)
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  0.8
                                                                                                  
                                                                                                  -Total
                                                                                                  
                                                                                                  $              0.4
                                                                                                  
                                                                                                  $         (0.4)
                                                                                                  
                                                                                                  $              -
                                                                                                  
                                                                                                  $            0.8
                                                                                                  
                                                                                                  $                   -Other
      Great Plains EnergyAssetsDerivative
      instruments (a)
                                                                                                  
                                                                                                  $              8.3
                                                                                                  
                                                                                                  $         (0.5)
                                                                                                  
                                                                                                  $            0.5
                                                                                                  
                                                                                                  $            4.9
                                                                                                  
                                                                                                  $                3.4SERP
      rabbi trust (b)Equity
      securities
                                                                                                  
                                                                                                  0.2
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  0.2
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  -Debt
      securities
                                                                                                  
                                                                                                  6.7
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  6.7
                                                                                                  
                                                                                                  -Total
      SERP rabbi trust
                                                                                                  
                                                                                                  6.9
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  0.2
                                                                                                  
                                                                                                  6.7
                                                                                                  
                                                                                                  -Total
                                                                                                  
                                                                                                  15.2
                                                                                                  
                                                                                                  (0.5)
                                                                                                  
                                                                                                  0.7
                                                                                                  
                                                                                                  11.6
                                                                                                  
                                                                                                  3.4LiabilitiesDerivative
      instruments (a)
                                                                                                  
                                                                                                  0.1
                                                                                                  
                                                                                                  (5.5)
                                                                                                  
                                                                                                  5.5
                                                                                                  
                                                                                                  0.1
                                                                                                  
                                                                                                  -Total
                                                                                                  
                                                                                                  $              0.1
                                                                                                  
                                                                                                  $         (5.5)
                                                                                                  
                                                                                                  $            5.5
                                                                                                  
                                                                                                  $            0.1
                                                                                                  
                                                                                                  $                   -Great
      Plains EnergyAssetsDerivative
      instruments (a)
                                                                                                  
                                                                                                  $              8.7
                                                                                                  
                                                                                                  $         (0.9)
                                                                                                  
                                                                                                  $            0.9
                                                                                                  
                                                                                                  $            5.3
                                                                                                  
                                                                                                  $                3.4Nuclear
      decommissioning trust (b)
                                                                                                  
                                                                                                  94.3
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  54.7
                                                                                                  
                                                                                                  32.7
                                                                                                  
                                                                                                  6.9SERP
      rabbi trust (b)
                                                                                                  
                                                                                                  6.9
                                                                                                  
                                                                                                  -
                                                                                                  
                                                                                                  0.2
                                                                                                  
                                                                                                  6.7
                                                                                                  
                                                                                                  -Total
                                                                                                  
                                                                                                  109.9
                                                                                                  
                                                                                                  (0.9)
                                                                                                  
                                                                                                  55.8
                                                                                                  
                                                                                                  44.7
                                                                                                  
                                                                                                  10.3LiabilitiesDerivative
      instruments (a)
                                                                                                  
                                                                                                  0.5
                                                                                                  
                                                                                                  (5.9)
                                                                                                  
                                                                                                  5.5
                                                                                                  
                                                                                                  0.9
                                                                                                  
                                                                                                  -Total
                                                                                                  
                                                                                                  $              0.5
                                                                                                  
                                                                                                  $         (5.9)
                                                                                                  
                                                                                                  $            5.5
                                                                                                  
                                                                                                  $            0.9
                                                                                                  
                                                                                                  $                   - 54
 Fair
      Value Measurements UsingDescription
                                                                                                                                        
                                                                                                                                        December
      31 2008
                                                                                                                                        
                                                                                                                                        FIN
      No. 39
                                                                                                                                          Netting(c)
                                                                                                                                        
                                                                                                                                        Quoted
      Prices in Active Markets for Identical Assets
                                                                                                                                          (Level
      1)
                                                                                                                                        
                                                                                                                                        Significant
      Other Observable Inputs
                                                                                                                                          (Level
      2)
                                                                                                                                        
                                                                                                                                        Significant
      Unobservable Inputs
                                                                                                                                          (Level
      3)KCP&L
                                                                                                                                        
                                                                                                                                        (millions)AssetsDerivative
      instruments (a)
                                                                                                                                        
                                                                                                                                        $              0.6
                                                                                                                                        
                                                                                                                                        $             -
                                                                                                                                        
                                                                                                                                        $              -
                                                                                                                                        
                                                                                                                                        $            0.6
                                                                                                                                        
                                                                                                                                        $                   -Nuclear
      decommissioning trust (b)
                                                                                                                                        
                                                                                                                                        95.2
                                                                                                                                        
                                                                                                                                        -
                                                                                                                                        
                                                                                                                                        52.9
                                                                                                                                        
                                                                                                                                        35.5
                                                                                                                                        
                                                                                                                                        6.8Total
                                                                                                                                        
                                                                                                                                        95.8
                                                                                                                                        
                                                                                                                                        -
                                                                                                                                        
                                                                                                                                        52.9
                                                                                                                                        
                                                                                                                                        36.1
                                                                                                                                        
                                                                                                                                        6.8LiabilitiesDerivative
      instruments (a)
                                                                                                                                        
                                                                                                                                        80.3
                                                                                                                                        
                                                                                                                                        -
                                                                                                                                        
                                                                                                                                        -
                                                                                                                                        
                                                                                                                                        80.3
                                                                                                                                        
                                                                                                                                        -Total
                                                                                                                                        
                                                                                                                                        $            80.3
                                                                                                                                        
                                                                                                                                        $             -
                                                                                                                                        
                                                                                                                                        $              -
                                                                                                                                        
                                                                                                                                        $          80.3
                                                                                                                                        
                                                                                                                                        $                   -Other
      Great Plains EnergyAssetsDerivative
      instruments (a)
                                                                                                                                        
                                                                                                                                        $            17.2
                                                                                                                                        
                                                                                                                                        $         (0.7)
                                                                                                                                        
                                                                                                                                        $            3.2
                                                                                                                                        
                                                                                                                                        $          10.9
                                                                                                                                        
                                                                                                                                        $                3.8SERP
      rabbi trust (b)
                                                                                                                                        
                                                                                                                                        6.7
                                                                                                                                        
                                                                                                                                        -
                                                                                                                                        
                                                                                                                                        0.2
                                                                                                                                        
                                                                                                                                        6.5
                                                                                                                                        
                                                                                                                                        -Total
                                                                                                                                        
                                                                                                                                        23.9
                                                                                                                                        
                                                                                                                                        (0.7)
                                                                                                                                        
                                                                                                                                        3.4
                                                                                                                                        
                                                                                                                                        17.4
                                                                                                                                        
                                                                                                                                        3.8LiabilitiesDerivative
      instruments (a)
                                                                                                                                        
                                                                                                                                        5.9
                                                                                                                                        
                                                                                                                                        (11.4)
                                                                                                                                        
                                                                                                                                        10.1
                                                                                                                                        
                                                                                                                                        7.2
                                                                                                                                        
                                                                                                                                        -Total
                                                                                                                                        
                                                                                                                                        $              5.9
                                                                                                                                        
                                                                                                                                        $       (11.4)
                                                                                                                                        
                                                                                                                                        $          10.1
                                                                                                                                        
                                                                                                                                        $            7.2
                                                                                                                                        
                                                                                                                                        $                   -Great
      Plains EnergyAssetsDerivative
      instruments (a)
                                                                                                                                        
                                                                                                                                        $            17.8
                                                                                                                                        
                                                                                                                                        $         (0.7)
                                                                                                                                        
                                                                                                                                        $            3.2
                                                                                                                                        
                                                                                                                                        $          11.5
                                                                                                                                        
                                                                                                                                        $                3.8Nuclear
      decommissioning trust (b)
                                                                                                                                        
                                                                                                                                        95.2
                                                                                                                                        
                                                                                                                                        -
                                                                                                                                        
                                                                                                                                        52.9
                                                                                                                                        
                                                                                                                                        35.5
                                                                                                                                        
                                                                                                                                        6.8SERP
      rabbi trust (b)
                                                                                                                                        
                                                                                                                                        6.7
                                                                                                                                        
                                                                                                                                        -
                                                                                                                                        
                                                                                                                                        0.2
                                                                                                                                        
                                                                                                                                        6.5
                                                                                                                                        
                                                                                                                                        -Total
                                                                                                                                        
                                                                                                                                        119.7
                                                                                                                                        
                                                                                                                                        (0.7)
                                                                                                                                        
                                                                                                                                        56.3
                                                                                                                                        
                                                                                                                                        53.5
                                                                                                                                        
                                                                                                                                        10.6LiabilitiesDerivative
      instruments (a)
                                                                                                                                        
                                                                                                                                        86.2
                                                                                                                                        
                                                                                                                                        (11.4)
                                                                                                                                        
                                                                                                                                        10.1
                                                                                                                                        
                                                                                                                                        87.5
                                                                                                                                        
                                                                                                                                        -Total
                                                                                                                                        
                                                                                                                                        $            86.2
                                                                                                                                        
                                                                                                                                        $       (11.4)
                                                                                                                                        
                                                                                                                                        $          10.1
                                                                                                                                        
                                                                                                                                        $          87.5
                                                                                                                                        
                                                                                                                                        $                   -(a)
                                                                                                                                        The
      fair value of derivative instruments is estimated using market quotes
      over-the-counter forward priced and volatility curves
  andcorrelation
      among fuel prices, net of estimated credit risk.(b)
                                                                                                                                        Fair
      value is based on quoted market prices of the investments held by the fund
      and/or valuation models.  The total does not include
      cashand
      cash equivalents, which are not subject to the fair value requirements of
      SFAS No. 157.(c)
                                                                                                                                        Represents
      the difference between derivative contracts in an asset or liability
      position presented on a net basis by counterpartyon
      the consolidated balance sheet where a master netting agreement exists
      between the Company and the counterparty.At
      June 30, 2009, and December 31, 2008, Great Plains Energy netted $5.0
      million and $10.7 million, respectively, of cash
  collateralposted
      with counterparties. 55
 The
following tables reconcile the beginning and ending balances for all level 3
assets and liabilities, net measured at fair value on a recurring basis for the
three months ended and year to date June 30, 2009 and 2008.
 Fair
      Value Measurements Using Significant Unobservable Inputs (Level
      3)OtherGreat
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  GreatPlains
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  PlainsKCP&L
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  Energy
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  EnergyMortgageU.S.
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  State
      & Local
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  Backed
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  DerivativeDescription
                                                                                                                                                                                                                                                                                                                                                                                                  Agency
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  Obligations
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  Securities
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  Total
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  Instruments
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  Total(millions)Balance
      April 1, 2009
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  3.6
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  3.2
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  6.8
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  2.6
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  9.4Total
      realized/unrealized gains or (losses)Included
      in regulatory liability
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  0.1
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  0.2
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  0.3
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  0.3Included
      in non-operating income
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  0.8
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  0.8Purchase,
      issuances, and settlements
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  (0.8
                                                                                                                                                                                                                                                                                                                                                                                                  )
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  (0.8
                                                                                                                                                                                                                                                                                                                                                                                                  )
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  (0.8
                                                                                                                                                                                                                                                                                                                                                                                                  )Transfers
      in and/or out of Level 3
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  0.5
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  0.1
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  0.6
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  0.6Balance
      June 30, 2009
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  2.9
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  0.5
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  3.5
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  6.9
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  3.4
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  10.3Total
      unrealized gains and (losses) included in non-operatingincome
      relating to assets and liabilities still on theconsolidated
      balance sheet at June 30, 2009
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  1.0
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                  $
                                                                                                                                                                                                                                                                                                                                                                                                  1.0
 Fair
      Value Measurements Using Significant Unobservable Inputs (Level
      3)OtherGreat
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      GreatPlains
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      PlainsKCP&L
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      Energy
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      EnergyMortgageU.S.
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      State
      & Local
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      Backed
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      DerivativeDescription
                                                                                                                                                                                                                                                                                                                                                                                      Agency
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      Obligations
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      Securities
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      Total
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      Instruments
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      Total(millions)Balance
      January 1, 2009
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      3.9
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      2.9
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      6.8
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      3.8
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      10.6Total
      realized/unrealized gains or (losses)Included
      in regulatory liability
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      0.2
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      0.2
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      0.4
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      0.4Included
      in non-operating income
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      0.2
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      0.2Purchase,
      issuances, and settlements
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      (1.2
                                                                                                                                                                                                                                                                                                                                                                                      )
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      0.4
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      (0.8
                                                                                                                                                                                                                                                                                                                                                                                      )
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      (0.6
                                                                                                                                                                                                                                                                                                                                                                                      )
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      (1.4
                                                                                                                                                                                                                                                                                                                                                                                      )Transfers
      in and/or out of Level 3
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      0.5
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      0.5
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      0.5Balance
      June 30, 2009
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      2.9
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      0.5
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      3.5
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      6.9
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      3.4
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      10.3Total
      unrealized gains and (losses) included in non-operatingincome
      relating to assets and liabilities still on theconsolidated
      balance sheet at June 30, 2009
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      -
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      (0.2
                                                                                                                                                                                                                                                                                                                                                                                      )
                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                                                                                                                                                                                      (0.2
                                                                                                                                                                                                                                                                                                                                                                                      ) 56
 Fair
      Value Measurements Using Significant Unobservable Inputs (Level
      3)OtherGreat
                                                                                                                                      
                                                                                                                                      GreatPlains
                                                                                                                                      
                                                                                                                                      PlainsKCP&L
                                                                                                                                      
                                                                                                                                      Energy
                                                                                                                                      
                                                                                                                                      EnergyNuclearDecommissioning
                                                                                                                                      
                                                                                                                                      DerivativeDescription
                                                                                                                                      Trust
                                                                                                                                      
                                                                                                                                      Instruments
                                                                                                                                      
                                                                                                                                      Total(millions)Balance
      April 1, 2008
                                                                                                                                      $
                                                                                                                                      6.0
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      $
                                                                                                                                      93.0
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      $
                                                                                                                                      99.0Total
      realized/unrealized gains or (losses)Included
      in regulatory liability
                                                                                                                                      
                                                                                                                                      (0.1
                                                                                                                                      )
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      -
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      (0.1
                                                                                                                                      )Purchase,
      issuances, and settlements
                                                                                                                                      
                                                                                                                                      (0.7
                                                                                                                                      )
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      -
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      (0.7
                                                                                                                                      )Transfers
      in and/or out of Level 3
                                                                                                                                      
                                                                                                                                      3.7
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      -
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      3.7Discontinued
      operations
                                                                                                                                      
                                                                                                                                      -
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      (93.0
                                                                                                                                      )
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      (93.0
                                                                                                                                      )Balance
      June 30, 2008
                                                                                                                                      $
                                                                                                                                      8.9
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      $
                                                                                                                                      -
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      $
                                                                                                                                      8.9
 Fair
      Value Measurements Using Significant Unobservable Inputs (Level
      3)OtherGreat
                                                                                                                                        
                                                                                                                                        GreatPlains
                                                                                                                                        
                                                                                                                                        PlainsKCP&L
                                                                                                                                        
                                                                                                                                        Energy
                                                                                                                                        
                                                                                                                                        EnergyNuclearDecommissioning
                                                                                                                                        
                                                                                                                                        DerivativeDescription
                                                                                                                                        Trust
                                                                                                                                        
                                                                                                                                        Instruments
                                                                                                                                        
                                                                                                                                        Total(millions)Balance
      January 1, 2008
                                                                                                                                        $
                                                                                                                                        6.5
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        $
                                                                                                                                        22.4
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        $
                                                                                                                                        28.9Total
      realized/unrealized gains or (losses)Included
      in regulatory liability
                                                                                                                                        
                                                                                                                                        (0.2
                                                                                                                                        )
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        -
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        (0.2
                                                                                                                                        )Purchase,
      issuances, and settlements
                                                                                                                                        
                                                                                                                                        (1.1
                                                                                                                                        )
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        -
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        (1.1
                                                                                                                                        )Transfers
      in and/or out of Level 3
                                                                                                                                        
                                                                                                                                        3.7
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        (16.4
                                                                                                                                        )
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        (12.7
                                                                                                                                        )Discontinued
      operations
                                                                                                                                        
                                                                                                                                        -
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        (6.0
                                                                                                                                        )
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        (6.0
                                                                                                                                        )Balance
      June 30, 2008
                                                                                                                                        $
                                                                                                                                        8.9
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        $
                                                                                                                                        -
                                                                                                                                        
                                                                                                                                        
                                                                                                                                        $
                                                                                                                                        8.9
 Great
Plains Energy and KCP&L adopted FSP SFAS No. 157-2, “Effective Date of FASB
Statement No. 157,” on January 1, 2009.  FSP SFAS No. 157-2 delayed
the effective date of SFAS No. 157 for nonfinancial assets and liabilities
measured at fair value on a nonrecurring basis, such as AROs, reporting units
and long-lived asset groups measured at fair value for impairment testing,
nonfinancial assets and liabilities measured at fair value in a business
combination and not measured at fair value in subsequent
periods.  Management evaluated the impact of adoption to those
nonfinancial assets and liabilities delayed by FSP SFAS No. 157-2 and determined
there was no significant impact on Great Plains Energy's and KCP&L's fair
value measurement processes.
  In April
2009, the FASB issued FSP SFAS No. 157-4, “Determining Fair Value When the
Volume and Level of Activity for the Asset or Liability Have Significantly
Decreased and Identifying Transactions That Are Not Orderly,” to provide
additional guidance for estimating fair value when the volume and level of
activity for the asset or liability have significantly
decreased.  This FSP also includes guidance on identifying
circumstances that indicate a transaction is not orderly.  This FSP
became effective in the second quarter of 2009 for Great Plains Energy and
KCP&L.  Management determined there was no significant impact on
Great Plains Energy's and KCP&L's fair value measurement
processes.
 57
 In May
2009, the FASB proposed FSP SFAS No. 157-f, “Measuring Liabilities under FASB
Statement No. 157” to amend the standard to clarify the principles on fair value
measurement of liabilities.  Management is currently evaluating the
impact of the proposed FSP with a final FSP expected in the second half of
2009.
  18.
                                                              TAXES
  Components
of income tax expense (benefit) are detailed in the following
tables.
 Three
      Months Ended
                                                                                                                                                                
                                                                                                                                                                Year
      to DateJune
      30
                                                                                                                                                                
                                                                                                                                                                June
      30Great
      Plains Energy
                                                                                                                                                                2009
                                                                                                                                                                2008
                                                                                                                                                                
                                                                                                                                                                2009
                                                                                                                                                                2008Current
      income taxes
                                                                                                                                                                (millions)Federal
                                                                                                                                                                $
                                                                                                                                                                (12.1
                                                                                                                                                                )
                                                                                                                                                                $
                                                                                                                                                                (14.3
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                $
                                                                                                                                                                (17.4
                                                                                                                                                                )
                                                                                                                                                                $
                                                                                                                                                                (19.7
                                                                                                                                                                )State
                                                                                                                                                                
                                                                                                                                                                (2.3
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                7.0
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                (3.7
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                6.3Foreign
                                                                                                                                                                
                                                                                                                                                                1.2
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                -
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                1.2
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                -Total
                                                                                                                                                                
                                                                                                                                                                (13.2
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                (7.3
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                (19.9
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                (13.4
                                                                                                                                                                )Deferred
      income taxesFederal
                                                                                                                                                                
                                                                                                                                                                14.6
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                (42.1
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                (7.8
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                (16.6
                                                                                                                                                                )State
                                                                                                                                                                
                                                                                                                                                                5.6
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                23.1
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                4.8
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                31.2Total
                                                                                                                                                                
                                                                                                                                                                20.2
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                (19.0
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                (3.0
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                14.6Noncurrent
      income taxesFederal
                                                                                                                                                                
                                                                                                                                                                0.7
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                1.0
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                (0.9
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                1.3State
                                                                                                                                                                
                                                                                                                                                                0.1
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                0.3
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                (0.1
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                0.3Foreign
                                                                                                                                                                
                                                                                                                                                                (0.4
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                -
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                (2.5
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                -Total
                                                                                                                                                                
                                                                                                                                                                0.4
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                1.3
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                (3.5
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                1.6Investment
      tax creditDeferral
                                                                                                                                                                
                                                                                                                                                                8.1
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                51.5
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                16.2
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                51.5Amortization
                                                                                                                                                                
                                                                                                                                                                (0.5
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                (0.4
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                (1.1
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                (0.7
                                                                                                                                                                )Total
                                                                                                                                                                
                                                                                                                                                                7.6
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                51.1
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                15.1
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                50.8Total
      income tax expense (benefit)
                                                                                                                                                                
                                                                                                                                                                15.0
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                26.1
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                (11.3
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                53.6Less:  taxes
      on discontinued operationsCurrent
      tax expense
                                                                                                                                                                
                                                                                                                                                                -
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                25.4
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                -
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                25.7Deferred
      tax expense (benefit)
                                                                                                                                                                
                                                                                                                                                                (2.0
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                (32.2
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                (2.0
                                                                                                                                                                )
                                                                                                                                                                
                                                                                                                                                                4.5Noncurrent
      income tax expense
                                                                                                                                                                
                                                                                                                                                                -
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                0.9
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                -
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                0.9Income
      tax expense (benefit) on continuing operations
                                                                                                                                                                $
                                                                                                                                                                17.0
                                                                                                                                                                
                                                                                                                                                                $
                                                                                                                                                                32.0
                                                                                                                                                                
                                                                                                                                                                
                                                                                                                                                                $
                                                                                                                                                                (9.3
                                                                                                                                                                )
                                                                                                                                                                $
                                                                                                                                                                22.5 58
 Three
      Months Ended
                                                                                                                            
                                                                                                                            Year
      to DateJune
      30
                                                                                                                            
                                                                                                                            June
      30KCP&L
                                                                                                                            2009
                                                                                                                            2008
                                                                                                                            
                                                                                                                            2009
                                                                                                                            2008Current
      income taxes
                                                                                                                            (millions)Federal
                                                                                                                            $
                                                                                                                            10.7
                                                                                                                            
                                                                                                                            $
                                                                                                                            (32.3
                                                                                                                            )
                                                                                                                            
                                                                                                                            $
                                                                                                                            10.5
                                                                                                                            
                                                                                                                            $
                                                                                                                            (34.6
                                                                                                                            )State
                                                                                                                            
                                                                                                                            2.0
                                                                                                                            
                                                                                                                            
                                                                                                                            0.3
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            1.9
                                                                                                                            
                                                                                                                            
                                                                                                                            0.3Total
                                                                                                                            
                                                                                                                            12.7
                                                                                                                            
                                                                                                                            
                                                                                                                            (32.0
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            12.4
                                                                                                                            
                                                                                                                            
                                                                                                                            (34.3
                                                                                                                            )Deferred
      income taxesFederal
                                                                                                                            
                                                                                                                            (6.0
                                                                                                                            )
                                                                                                                            
                                                                                                                            (21.7
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            (14.8
                                                                                                                            )
                                                                                                                            
                                                                                                                            (21.6
                                                                                                                            )State
                                                                                                                            
                                                                                                                            0.8
                                                                                                                            
                                                                                                                            
                                                                                                                            31.2
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            1.0
                                                                                                                            
                                                                                                                            
                                                                                                                            31.2Total
                                                                                                                            
                                                                                                                            (5.2
                                                                                                                            )
                                                                                                                            
                                                                                                                            9.5
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (13.8
                                                                                                                            )
                                                                                                                            
                                                                                                                            9.6Noncurrent
      income taxesFederal
                                                                                                                            
                                                                                                                            0.6
                                                                                                                            
                                                                                                                            
                                                                                                                            0.3
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.7
                                                                                                                            )
                                                                                                                            
                                                                                                                            0.6State
                                                                                                                            
                                                                                                                            0.1
                                                                                                                            
                                                                                                                            
                                                                                                                            0.1
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            -
                                                                                                                            
                                                                                                                            
                                                                                                                            0.1Total
                                                                                                                            
                                                                                                                            0.7
                                                                                                                            
                                                                                                                            
                                                                                                                            0.4
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.7
                                                                                                                            )
                                                                                                                            
                                                                                                                            0.7Investment
      tax creditDeferral
                                                                                                                            
                                                                                                                            8.1
                                                                                                                            
                                                                                                                            
                                                                                                                            51.5
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            16.2
                                                                                                                            
                                                                                                                            
                                                                                                                            51.5Amortization
                                                                                                                            
                                                                                                                            (0.3
                                                                                                                            )
                                                                                                                            
                                                                                                                            (0.4
                                                                                                                            )
                                                                                                                            
                                                                                                                            
                                                                                                                            (0.7
                                                                                                                            )
                                                                                                                            
                                                                                                                            (0.7
                                                                                                                            )Total
                                                                                                                            
                                                                                                                            7.8
                                                                                                                            
                                                                                                                            
                                                                                                                            51.1
                                                                                                                            
                                                                                                                            
                                                                                                                            
                                                                                                                            15.5
                                                                                                                            
                                                                                                                            
                                                                                                                            50.8Total
                                                                                                                            $
                                                                                                                            16.0
                                                                                                                            
                                                                                                                            $
                                                                                                                            29.0
                                                                                                                            
                                                                                                                            
                                                                                                                            $
                                                                                                                            13.4
                                                                                                                            
                                                                                                                            $
                                                                                                                            26.8
 Income
Tax Expense (Benefit) and Effective Income Tax Rates
 Income
tax expense and the effective income tax rates reflected in continuing
operations in the financial statements and the reasons for their differences
from the statutory federal rates are detailed in the following
tables.
 Great
      Plains Energy
                                                                                                    Income
      Tax Expense (Benefit)
                                                                                                    Income
      Tax RateThree
      Months Ended June 30
                                                                                                    2009
                                                                                                    2008
                                                                                                    2009
                                                                                                    2008(millions)Federal
      statutory income tax
                                                                                                    $
                                                                                                    18.8
                                                                                                    
                                                                                                    $
                                                                                                    15.8
                                                                                                    
                                                                                                    
                                                                                                    35.0
                                                                                                    %
                                                                                                    
                                                                                                    35.0
                                                                                                    %Differences
      between book and taxdepreciation
      not normalized
                                                                                                    
                                                                                                    (2.7
                                                                                                    )
                                                                                                    
                                                                                                    (1.1
                                                                                                    )
                                                                                                    
                                                                                                    (5.0
                                                                                                    )
                                                                                                    
                                                                                                    (2.4
                                                                                                    )Amortization
      of investment tax credits
                                                                                                    
                                                                                                    (0.5
                                                                                                    )
                                                                                                    
                                                                                                    (0.4
                                                                                                    )
                                                                                                    
                                                                                                    (1.0
                                                                                                    )
                                                                                                    
                                                                                                    (0.8
                                                                                                    )Federal
      income tax credits
                                                                                                    
                                                                                                    (2.1
                                                                                                    )
                                                                                                    
                                                                                                    (2.9
                                                                                                    )
                                                                                                    
                                                                                                    (3.8
                                                                                                    )
                                                                                                    
                                                                                                    (6.4
                                                                                                    )State
      income taxes
                                                                                                    
                                                                                                    2.0
                                                                                                    
                                                                                                    
                                                                                                    1.9
                                                                                                    
                                                                                                    
                                                                                                    3.6
                                                                                                    
                                                                                                    
                                                                                                    4.2Rate
      change on deferred taxes
                                                                                                    
                                                                                                    -
                                                                                                    
                                                                                                    
                                                                                                    19.3
                                                                                                    
                                                                                                    
                                                                                                    -
                                                                                                    
                                                                                                    
                                                                                                    42.6Changes
      in uncertain tax positions, net
                                                                                                    
                                                                                                    0.8
                                                                                                    
                                                                                                    
                                                                                                    (0.6
                                                                                                    )
                                                                                                    
                                                                                                    1.5
                                                                                                    
                                                                                                    
                                                                                                    (1.4
                                                                                                    )GMO
      transaction costs
                                                                                                    
                                                                                                    -
                                                                                                    
                                                                                                    
                                                                                                    (0.1
                                                                                                    )
                                                                                                    
                                                                                                    -
                                                                                                    
                                                                                                    
                                                                                                    (0.3
                                                                                                    )Valuation
      allowance
                                                                                                    
                                                                                                    0.5
                                                                                                    
                                                                                                    
                                                                                                    -
                                                                                                    
                                                                                                    
                                                                                                    0.9
                                                                                                    
                                                                                                    
                                                                                                    -Other
                                                                                                    
                                                                                                    0.2
                                                                                                    
                                                                                                    
                                                                                                    0.1
                                                                                                    
                                                                                                    
                                                                                                    0.4
                                                                                                    
                                                                                                    
                                                                                                    0.4Total
                                                                                                    $
                                                                                                    17.0
                                                                                                    
                                                                                                    $
                                                                                                    32.0
                                                                                                    
                                                                                                    
                                                                                                    31.6
                                                                                                    %
                                                                                                    
                                                                                                    70.9
                                                                                                    % 59
 Great
      Plains Energy
                                                                                                    Income
      Tax Expense (Benefit)
                                                                                                    Income
      Tax RateYear
      to Date June 30
                                                                                                    2009
                                                                                                    2008
                                                                                                    2009
                                                                                                    
                                                                                                    2008(millions)Federal
      statutory income tax
                                                                                                    $
                                                                                                    17.2
                                                                                                    
                                                                                                    $
                                                                                                    10.6
                                                                                                    
                                                                                                    
                                                                                                    35.0
                                                                                                    %
                                                                                                    
                                                                                                    35.0
                                                                                                    %Differences
      between book and taxdepreciation
      not normalized
                                                                                                    
                                                                                                    (6.2
                                                                                                    )
                                                                                                    
                                                                                                    (1.3
                                                                                                    )
                                                                                                    
                                                                                                    (12.5
                                                                                                    )
                                                                                                    
                                                                                                    (4.4
                                                                                                    )Amortization
      of investment tax credits
                                                                                                    
                                                                                                    (1.1
                                                                                                    )
                                                                                                    
                                                                                                    (0.7
                                                                                                    )
                                                                                                    
                                                                                                    (2.2
                                                                                                    )
                                                                                                    
                                                                                                    (2.3
                                                                                                    )Federal
      income tax credits
                                                                                                    
                                                                                                    (4.6
                                                                                                    )
                                                                                                    
                                                                                                    (5.0
                                                                                                    )
                                                                                                    
                                                                                                    (9.4
                                                                                                    )
                                                                                                    
                                                                                                    (16.6
                                                                                                    )State
      income taxes
                                                                                                    
                                                                                                    1.4
                                                                                                    
                                                                                                    
                                                                                                    0.9
                                                                                                    
                                                                                                    
                                                                                                    2.8
                                                                                                    
                                                                                                    
                                                                                                    3.1Rate
      change on deferred taxes
                                                                                                    
                                                                                                    -
                                                                                                    
                                                                                                    
                                                                                                    19.3
                                                                                                    
                                                                                                    
                                                                                                    -
                                                                                                    
                                                                                                    
                                                                                                    63.7Changes
      in uncertain tax positions, net
                                                                                                    
                                                                                                    (73.3
                                                                                                    )
                                                                                                    
                                                                                                    (0.6
                                                                                                    )
                                                                                                    
                                                                                                    (148.8
                                                                                                    )
                                                                                                    
                                                                                                    (2.1
                                                                                                    )GMO
      transaction costs
                                                                                                    
                                                                                                    -
                                                                                                    
                                                                                                    
                                                                                                    (0.3
                                                                                                    )
                                                                                                    
                                                                                                    -
                                                                                                    
                                                                                                    
                                                                                                    (1.1
                                                                                                    )Valuation
      allowance
                                                                                                    
                                                                                                    56.5
                                                                                                    
                                                                                                    
                                                                                                    -
                                                                                                    
                                                                                                    
                                                                                                    114.8
                                                                                                    
                                                                                                    
                                                                                                    -Other
                                                                                                    
                                                                                                    0.8
                                                                                                    
                                                                                                    
                                                                                                    (0.4
                                                                                                    )
                                                                                                    
                                                                                                    1.4
                                                                                                    
                                                                                                    
                                                                                                    (1.1
                                                                                                    )Total
                                                                                                    $
                                                                                                    (9.3
                                                                                                    )
                                                                                                    $
                                                                                                    22.5
                                                                                                    
                                                                                                    
                                                                                                    (18.9
                                                                                                    )
      %
                                                                                                    
                                                                                                    74.2
                                                                                                    %
 KCP&L
                                                                                                Income
      Tax Expense (Benefit)
                                                                                                Income
      Tax RateThree
      Months Ended June 30
                                                                                                2009
                                                                                                2008
                                                                                                2009
                                                                                                
                                                                                                2008(millions)Federal
      statutory income tax
                                                                                                $
                                                                                                17.8
                                                                                                
                                                                                                $
                                                                                                12.9
                                                                                                
                                                                                                
                                                                                                35.0
                                                                                                %
                                                                                                
                                                                                                35.0
                                                                                                %Differences
      between book and taxdepreciation
      not normalized
                                                                                                
                                                                                                (1.5
                                                                                                )
                                                                                                
                                                                                                (1.1
                                                                                                )
                                                                                                
                                                                                                (3.0
                                                                                                )
                                                                                                
                                                                                                (3.0
                                                                                                )Amortization
      of investment tax credits
                                                                                                
                                                                                                (0.3
                                                                                                )
                                                                                                
                                                                                                (0.4
                                                                                                )
                                                                                                
                                                                                                (0.7
                                                                                                )
                                                                                                
                                                                                                (1.0
                                                                                                )Federal
      income tax credits
                                                                                                
                                                                                                (1.9
                                                                                                )
                                                                                                
                                                                                                (2.8
                                                                                                )
                                                                                                
                                                                                                (3.7
                                                                                                )
                                                                                                
                                                                                                (7.7
                                                                                                )State
      income taxes
                                                                                                
                                                                                                1.8
                                                                                                
                                                                                                
                                                                                                1.0
                                                                                                
                                                                                                
                                                                                                3.5
                                                                                                
                                                                                                
                                                                                                2.6Rate
      change on deferred taxes
                                                                                                
                                                                                                -
                                                                                                
                                                                                                
                                                                                                20.3
                                                                                                
                                                                                                
                                                                                                -
                                                                                                
                                                                                                
                                                                                                55.0Changes
      in uncertain tax positions, net
                                                                                                
                                                                                                -
                                                                                                
                                                                                                
                                                                                                (0.6
                                                                                                )
                                                                                                
                                                                                                -
                                                                                                
                                                                                                
                                                                                                (1.7
                                                                                                )Parent
      company tax benefits (a)
                                                                                                
                                                                                                -
                                                                                                
                                                                                                
                                                                                                (0.8
                                                                                                )
                                                                                                
                                                                                                -
                                                                                                
                                                                                                
                                                                                                (2.2
                                                                                                )Other
                                                                                                
                                                                                                0.1
                                                                                                
                                                                                                
                                                                                                0.5
                                                                                                
                                                                                                
                                                                                                0.2
                                                                                                
                                                                                                
                                                                                                1.4Total
                                                                                                $
                                                                                                16.0
                                                                                                
                                                                                                $
                                                                                                29.0
                                                                                                
                                                                                                
                                                                                                31.3
                                                                                                %
                                                                                                
                                                                                                78.4
                                                                                                %
 KCP&L
                                                                                                                                                  Income
      Tax Expense (Benefit)
                                                                                                                                                  Income
      Tax RateYear
      to Date June 30
                                                                                                                                                  2009
                                                                                                                                                  2008
                                                                                                                                                  2009
                                                                                                                                                  
                                                                                                                                                  2008(millions)Federal
      statutory income tax
                                                                                                                                                  $
                                                                                                                                                  19.8
                                                                                                                                                  
                                                                                                                                                  $
                                                                                                                                                  18.1
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  35.0
                                                                                                                                                  %
                                                                                                                                                  
                                                                                                                                                  35.0
                                                                                                                                                  %Differences
      between book and taxdepreciation
      not normalized
                                                                                                                                                  
                                                                                                                                                  (3.8
                                                                                                                                                  )
                                                                                                                                                  
                                                                                                                                                  (1.3
                                                                                                                                                  )
                                                                                                                                                  
                                                                                                                                                  (6.8
                                                                                                                                                  )
                                                                                                                                                  
                                                                                                                                                  (2.6
                                                                                                                                                  )Amortization
      of investment tax credits
                                                                                                                                                  
                                                                                                                                                  (0.7
                                                                                                                                                  )
                                                                                                                                                  
                                                                                                                                                  (0.7
                                                                                                                                                  )
                                                                                                                                                  
                                                                                                                                                  (1.2
                                                                                                                                                  )
                                                                                                                                                  
                                                                                                                                                  (1.4
                                                                                                                                                  )Federal
      income tax credits
                                                                                                                                                  
                                                                                                                                                  (4.2
                                                                                                                                                  )
                                                                                                                                                  
                                                                                                                                                  (4.9
                                                                                                                                                  )
                                                                                                                                                  
                                                                                                                                                  (7.4
                                                                                                                                                  )
                                                                                                                                                  
                                                                                                                                                  (9.5
                                                                                                                                                  )State
      income taxes
                                                                                                                                                  
                                                                                                                                                  1.8
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  1.3
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  3.2
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  2.5Rate
      change on deferred taxes
                                                                                                                                                  
                                                                                                                                                  -
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  20.3
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  -
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  39.2Changes
      in uncertain tax positions, net
                                                                                                                                                  
                                                                                                                                                  0.1
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  (0.6
                                                                                                                                                  )
                                                                                                                                                  
                                                                                                                                                  0.1
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  (1.2
                                                                                                                                                  )Parent
      company tax benefits (a)
                                                                                                                                                  
                                                                                                                                                  -
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  (5.2
                                                                                                                                                  )
                                                                                                                                                  
                                                                                                                                                  -
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  (10.0
                                                                                                                                                  )Other
                                                                                                                                                  
                                                                                                                                                  0.4
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  (0.2
                                                                                                                                                  )
                                                                                                                                                  
                                                                                                                                                  0.7
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  (0.2
                                                                                                                                                  )Total
                                                                                                                                                  $
                                                                                                                                                  13.4
                                                                                                                                                  
                                                                                                                                                  $
                                                                                                                                                  26.8
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  23.6
                                                                                                                                                  %
                                                                                                                                                  
                                                                                                                                                  51.8
                                                                                                                                                  %(a)The
      tax sharing agreement between Great Plains Energy and its subsidiaries was
      modified onJuly
      14, 2008.  As part of the new agreement, parent company tax benefits
      are no longer allocatedto
      KCP&L or other subsidiaries. 60
 Uncertain Tax
Positions
 Great
Plains Energy and KCP&L recognize tax benefits in accordance with FIN No.
48, “Accounting for Uncertainty in Income Taxes,” an interpretation of SFAS No.
109, “Accounting for Income Taxes” (FIN No. 48).  FIN No. 48
establishes a “more-likely-than-not” recognition threshold that must be met
before tax benefits can be recognized in the financial statements.
  At June
30, 2009, and December 31, 2008, Great Plains Energy had $33.4 million and $97.3
million, respectively, of liabilities related to unrecognized tax
benefits.  Of this amount, $17.3 million at June 30, 2009, and $80.2
million at December 31, 2008, is expected to impact the effective tax rate if
recognized.  The $63.9 million decrease in unrecognized tax benefits
is primarily due to a decrease of $74.5 million related to the Joint Committee
on Taxation approval of the IRS audit for GMO’s 2003-2004 tax years, offset by
an increase of $11.6 million of unrecognized tax benefits related to prior year
tax positions taken on GMO tax returns.  The tax benefits recognized
related to the 2003-2004 IRS audit were also offset by an increase in valuation
allowance for federal and state net operating losses of $56.0 million and a
reduction in deferred income tax assets of $2.5 million, which resulted in an
increase to net income of $16.0 million.
  At June
30, 2009, and December 31, 2008, KCP&L had $16.9 million and $17.6 million,
respectively, of liabilities related to unrecognized tax benefits.  Of
this amount, $1.1 million at June 30, 2009, and $1.2 million at December 31,
2008, is expected to impact the effective tax rate if recognized.
  The
following table reflects activity for Great Plains Energy and KCP&L related
to the liability for unrecognized tax
benefits.
 Great
      Plains Energy
                                                                                                        KCP&LJune
      30
                                                                                                        December
      31
                                                                                                        June
      30
                                                                                                        December
      312009
                                                                                                        2008
                                                                                                        2009
                                                                                                        2008(millions)Beginning
      balance
                                                                                                        $
                                                                                                        97.3
                                                                                                        
                                                                                                        $
                                                                                                        21.9
                                                                                                        
                                                                                                        $
                                                                                                        17.6
                                                                                                        
                                                                                                        $
                                                                                                        19.6Additions
      for current year tax positions
                                                                                                        
                                                                                                        2.1
                                                                                                        
                                                                                                        
                                                                                                        5.3
                                                                                                        
                                                                                                        
                                                                                                        2.0
                                                                                                        
                                                                                                        
                                                                                                        3.8Additions
      for prior year tax positions
                                                                                                        
                                                                                                        -
                                                                                                        
                                                                                                        
                                                                                                        2.6
                                                                                                        
                                                                                                        
                                                                                                        -
                                                                                                        
                                                                                                        
                                                                                                        2.6Additions
      for GMO prior year tax positions
                                                                                                        
                                                                                                        12.9
                                                                                                        
                                                                                                        
                                                                                                        77.0
                                                                                                        
                                                                                                        
                                                                                                        -
                                                                                                        
                                                                                                        
                                                                                                        -Reductions
      for prior year tax positions
                                                                                                        
                                                                                                        (1.0
                                                                                                        )
                                                                                                        
                                                                                                        (0.8
                                                                                                        )
                                                                                                        
                                                                                                        (0.6
                                                                                                        )
                                                                                                        
                                                                                                        (0.7
                                                                                                        )Settlements
                                                                                                        
                                                                                                        (76.6
                                                                                                        )
                                                                                                        
                                                                                                        (8.5
                                                                                                        )
                                                                                                        
                                                                                                        (2.1
                                                                                                        )
                                                                                                        
                                                                                                        (7.5
                                                                                                        )Statute
      expirations
                                                                                                        
                                                                                                        -
                                                                                                        
                                                                                                        
                                                                                                        (0.2
                                                                                                        )
                                                                                                        
                                                                                                        -
                                                                                                        
                                                                                                        
                                                                                                        (0.2
                                                                                                        )Foreign
      currency translation adjustments
                                                                                                        
                                                                                                        (1.3
                                                                                                        )
                                                                                                        
                                                                                                        -
                                                                                                        
                                                                                                        
                                                                                                        -
                                                                                                        
                                                                                                        
                                                                                                        -Ending
      balance
                                                                                                        $
                                                                                                        33.4
                                                                                                        
                                                                                                        $
                                                                                                        97.3
                                                                                                        
                                                                                                        $
                                                                                                        16.9
                                                                                                        
                                                                                                        $
                                                                                                        17.6
 Great
Plains Energy and KCP&L recognize interest accrued related to unrecognized
tax benefits in interest expense and penalties in non-operating
expenses.  At June 30, 2009, and December 31, 2008, accrued interest
related to unrecognized tax benefits for Great Plains Energy was $5.5 million
and $2.6 million, respectively.  Amounts accrued for penalties with
respect to unrecognized tax benefits was $1.0 million at June 30,
2009.  For the three months ended and year to date June 30, 2009,
Great Plains Energy recognized an increase of $0.5 million and $0.7 million,
respectively, of interest expense related to unrecognized tax
benefits.  The year to date increases in interest expense of $2.9
million and penalties of $1.0 million were primarily associated with prior year
GMO tax return positions identified and recorded to goodwill.
  Year to
date June 30, 2009, KCP&L recognized a $0.2 million reduction of interest
expense related to unrecognized tax benefits.  KCP&L had accrued
interest related to unrecognized tax 2008.  Amounts
accrued for penalties with respect to unrecognized tax benefits for KCP&L
are insignificant.
 61
 The IRS is currently auditing Great
Plains Energy and its subsidiaries for the 2006 tax year and the Company is
protesting an audit assessment by the Canada Revenue Authority (CRA) for a
former GMO subsidiary for the 2002 tax year.  It is reasonably
possible that a settlement may be reached for both audits within the next twelve
months.  The Company is unable to estimate the amount of unrecognized
tax benefits that may be recognized in the next twelve months related to the IRS
audit and other statute expirations, but management estimates the Company will
reduce unrecognized tax benefits associated with the CRA audit by $1.2 million
in the next twelve months.
  Advanced Coal
Credit
 On April
28, 2008, KCP&L was notified that its application filed in 2007 for $125.0
million in advanced coal investment tax credits (ITC) was approved by the
IRS.  The credit is based on the amount of expenses incurred on the
construction of Iatan No. 2.  Additionally, in order to meet the
advanced clean coal standards and avoid forfeiture and/or the recapture of tax
credits in the future, KCP&L must meet or exceed certain environmental
performance standards for at least five years once the plant is placed in
service.
  For the
three months ended and year to date June 30, 2009, Great Plains Energy and
KCP&L recognized current federal tax benefits of $8.1 million and $16.2
million, respectively.  For the same periods in 2008, Great Plains
Energy and KCP&L recognized current federal tax benefits of $51.5
million.  However, tax laws require KCP&L to reduce income tax
expense for ratemaking and financial statement purposes ratably over the life of
the plant.  Therefore, Great Plains Energy and KCP&L concurrently
recognized deferred advanced coal ITC expense to offset the current federal tax
benefit.  At June 30, 2009, Great Plains Energy and KCP&L had
$90.5 million of deferred advanced coal ITC.  Great Plains Energy and
KCP&L will recognize the tax benefits of the ITC over the life of the plant
once it is placed in service.
  The
unaffiliated owners of Iatan No. 2, holding an aggregate 27% interest in the
unit, have asserted that they have proportionate rights to the credits, and have
commenced an arbitration action under the Iatan No. 2 ownership agreement
seeking to recover the proportionate value from KCP&L.  Discovery
is ongoing in this arbitration.
  19.
                                                              SEGMENTS
      AND RELATED INFORMATION
  Great
Plains Energy
 Great
Plains Energy has one reportable segment based on its method of internal
reporting, which generally segregates reportable segments based on products and
services, management responsibility and regulation.  The one
reportable business segment is electric utility, consisting of KCP&L and
GMO’s regulated utility operations.  For the three months ended and
year to date June 30, 2008, the electric utility segment is the same as the
previously reported KCP&L segment.  Other includes GMO activity
other than its regulated utility operations, Services, KLT Inc. (including
Strategic Energy discontinued operations), unallocated corporate charges,
consolidating entries and intercompany eliminations.  Intercompany
eliminations include insignificant amounts of intercompany financing-related
activities.  The summary of significant accounting policies applies to
the reportable segment.  For segment reporting, the segment’s income
taxes include the effects of allocating holding company tax benefits prior to
July 14, 2008.  GMO is only included for periods subsequent to July
14, 2008.  Segment performance is evaluated based on net income
attributable to Great Plains Energy.
 62
 The
following tables reflect summarized financial information concerning Great
Plains Energy’s reportable segment.
 Three
      Months Ended
                                                                                          Electric
      Utility
                                                                                          
                                                                                          
                                                                                          Great
      PlainsJune
      30, 2009
                                                                                          Other
                                                                                          Energy(millions)Operating
      revenues
                                                                                          $
                                                                                          480.5
                                                                                          
                                                                                          $
                                                                                          -
                                                                                          
                                                                                          $
                                                                                          480.5Depreciation
      and amortization
                                                                                          
                                                                                          (73.4
                                                                                          )
                                                                                          
                                                                                          -
                                                                                          
                                                                                          
                                                                                          (73.4
                                                                                          )Interest
      charges
                                                                                          
                                                                                          (40.7
                                                                                          )
                                                                                          
                                                                                          (6.2
                                                                                          )
                                                                                          
                                                                                          (46.9
                                                                                          )Income
      tax benefit (expense)
                                                                                          
                                                                                          (19.1
                                                                                          )
                                                                                          
                                                                                          2.1
                                                                                          
                                                                                          
                                                                                          (17.0
                                                                                          )Loss
      from equity investments
                                                                                          
                                                                                          -
                                                                                          
                                                                                          
                                                                                          (0.1
                                                                                          )
                                                                                          
                                                                                          (0.1
                                                                                          )Discontinued
      operations
                                                                                          
                                                                                          -
                                                                                          
                                                                                          
                                                                                          (3.1
                                                                                          )
                                                                                          
                                                                                          (3.1
                                                                                          )Net
      income (loss) attributable to Great Plains Energy
                                                                                          
                                                                                          42.8
                                                                                          
                                                                                          
                                                                                          (9.1
                                                                                          )
                                                                                          
                                                                                          33.7
 Year
      to Date
                                                                                          Electric
      Utility
                                                                                          
                                                                                          
                                                                                          Great
      PlainsJune
      30, 2009
                                                                                          Other
                                                                                          Energy(millions)Operating
      revenues
                                                                                          $
                                                                                          899.7
                                                                                          
                                                                                          $
                                                                                          -
                                                                                          
                                                                                          $
                                                                                          899.7Depreciation
      and amortization
                                                                                          
                                                                                          (142.4
                                                                                          )
                                                                                          
                                                                                          -
                                                                                          
                                                                                          
                                                                                          (142.4
                                                                                          )Interest
      charges
                                                                                          
                                                                                          (75.0
                                                                                          )
                                                                                          
                                                                                          (9.2
                                                                                          )
                                                                                          
                                                                                          (84.2
                                                                                          )Income
      tax benefit (expense)
                                                                                          
                                                                                          (13.3
                                                                                          )
                                                                                          
                                                                                          22.6
                                                                                          
                                                                                          
                                                                                          9.3Loss
      from equity investments
                                                                                          
                                                                                          -
                                                                                          
                                                                                          
                                                                                          (0.2
                                                                                          )
                                                                                          
                                                                                          (0.2
                                                                                          )Discontinued
      operations
                                                                                          
                                                                                          -
                                                                                          
                                                                                          
                                                                                          (3.1
                                                                                          )
                                                                                          
                                                                                          (3.1
                                                                                          )Net
      income attributable to Great Plains Energy
                                                                                          
                                                                                          50.2
                                                                                          
                                                                                          
                                                                                          5.2
                                                                                          
                                                                                          
                                                                                          55.4
 Three
      Months Ended
                                                                                        Electric
      Utility
                                                                                        
                                                                                        
                                                                                        Great
      PlainsJune
      30, 2008
                                                                                        Other
                                                                                        Energy(millions)Operating
      revenues
                                                                                        $
                                                                                        335.0
                                                                                        
                                                                                        $
                                                                                        -
                                                                                        
                                                                                        $
                                                                                        335.0Depreciation
      and amortization
                                                                                        
                                                                                        (50.8
                                                                                        )
                                                                                        
                                                                                        -
                                                                                        
                                                                                        
                                                                                        (50.8
                                                                                        )Interest
      charges
                                                                                        
                                                                                        (19.9
                                                                                        )
                                                                                        
                                                                                        9.5
                                                                                        
                                                                                        
                                                                                        (10.4
                                                                                        )Income
      tax benefit (expense)
                                                                                        
                                                                                        (29.0
                                                                                        )
                                                                                        
                                                                                        (3.0
                                                                                        )
                                                                                        
                                                                                        (32.0
                                                                                        )Loss
      from equity investments
                                                                                        
                                                                                        -
                                                                                        
                                                                                        
                                                                                        (0.4
                                                                                        )
                                                                                        
                                                                                        (0.4
                                                                                        )Discontinued
      operations
                                                                                        
                                                                                        -
                                                                                        
                                                                                        
                                                                                        (18.2
                                                                                        )
                                                                                        
                                                                                        (18.2
                                                                                        )Net
      income (loss) attributable to Great Plains Energy
                                                                                        
                                                                                        7.9
                                                                                        
                                                                                        
                                                                                        (12.9
                                                                                        )
                                                                                        
                                                                                        (5.0
                                                                                        )
 Year
      to Date
                                                                                        Electric
      Utility
                                                                                        
                                                                                        
                                                                                        Great
      PlainsJune
      30, 2008
                                                                                        Other
                                                                                        Energy(millions)Operating
      revenues
                                                                                        $
                                                                                        632.6
                                                                                        
                                                                                        $
                                                                                        -
                                                                                        
                                                                                        $
                                                                                        632.6Depreciation
      and amortization
                                                                                        
                                                                                        (101.0
                                                                                        )
                                                                                        
                                                                                        -
                                                                                        
                                                                                        
                                                                                        (101.0
                                                                                        )Interest
      charges
                                                                                        
                                                                                        (36.7
                                                                                        )
                                                                                        
                                                                                        (15.3
                                                                                        )
                                                                                        
                                                                                        (52.0
                                                                                        )Income
      tax benefit (expense)
                                                                                        
                                                                                        (26.8
                                                                                        )
                                                                                        
                                                                                        4.3
                                                                                        
                                                                                        
                                                                                        (22.5
                                                                                        )Loss
      from equity investments
                                                                                        
                                                                                        -
                                                                                        
                                                                                        
                                                                                        (0.8
                                                                                        )
                                                                                        
                                                                                        (0.8
                                                                                        )Discontinued
      operations
                                                                                        
                                                                                        -
                                                                                        
                                                                                        
                                                                                        34.7
                                                                                        
                                                                                        
                                                                                        34.7Net
      income attributable to Great Plains Energy
                                                                                        
                                                                                        24.9
                                                                                        
                                                                                        
                                                                                        17.6
                                                                                        
                                                                                        
                                                                                        42.5
 63
 Electric
      Utility
                                                                                                                                
                                                                                                                                
                                                                                                                                
                                                                                                                                
                                                                                                                                Great
      PlainsOther
                                                                                                                                Eliminations
                                                                                                                                EnergyJune
      30, 2009
                                                                                                                                (millions)Assets
                                                                                                                                $
                                                                                                                                8,537.4
                                                                                                                                
                                                                                                                                $
                                                                                                                                95.1
                                                                                                                                
                                                                                                                                $
                                                                                                                                (500.0
                                                                                                                                )
                                                                                                                                $
                                                                                                                                8,132.5Capital
      expenditures (a)
                                                                                                                                
                                                                                                                                496.7
                                                                                                                                
                                                                                                                                
                                                                                                                                -
                                                                                                                                
                                                                                                                                
                                                                                                                                -
                                                                                                                                
                                                                                                                                
                                                                                                                                496.7December
      31, 2008Assets
      (b)
                                                                                                                                $
                                                                                                                                8,161.9
                                                                                                                                
                                                                                                                                $
                                                                                                                                141.7
                                                                                                                                
                                                                                                                                $
                                                                                                                                (434.3
                                                                                                                                )
                                                                                                                                $
                                                                                                                                7,869.3Capital
      expenditures (a)
                                                                                                                                
                                                                                                                                1,023.7
                                                                                                                                
                                                                                                                                
                                                                                                                                1.2
                                                                                                                                
                                                                                                                                
                                                                                                                                -
                                                                                                                                
                                                                                                                                
                                                                                                                                1,024.9(a)Capital expenditures reflect year to date amounts for the periods
      presented.(b)Other includes assets of discontinued
  operations.
 20.
                                                                DISCONTINUED
      OPERATIONS
  On June
2, 2008, Great Plains Energy completed the sale of Strategic Energy to Direct
Energy Services, LLC (Direct Energy), a subsidiary of Centrica.  In
accordance with SFAS No. 144, “Accounting for the Impairment or Disposal of
Long-Lived Assets,” Strategic Energy is reported as discontinued operations for
the periods presented.  During the second quarter of 2009, Great
Plains Energy recorded $5.1 million of gross receipts taxes for periods prior to
the sale for which Great Plains Energy indemnified Direct Energy.  The
following table summarizes the income from Strategic Energy’s discontinued
operations.
 Three
      Months Ended
                                                                                                                                Year
      to DateJune
      30
                                                                                                                                June
      302009
                                                                                                                                2008
                                                                                                                                2009
                                                                                                                                2008(millions)Revenues
                                                                                                                                $
                                                                                                                                -
                                                                                                                                
                                                                                                                                $
                                                                                                                                139.6
                                                                                                                                
                                                                                                                                $
                                                                                                                                -
                                                                                                                                
                                                                                                                                $
                                                                                                                                667.4Income
      from operations before income taxes (a)
                                                                                                                                $
                                                                                                                                -
                                                                                                                                
                                                                                                                                $
                                                                                                                                92.5
                                                                                                                                
                                                                                                                                $
                                                                                                                                -
                                                                                                                                
                                                                                                                                $
                                                                                                                                182.4Loss
      on disposal before income taxes
                                                                                                                                
                                                                                                                                (5.1
                                                                                                                                )
                                                                                                                                
                                                                                                                                (116.6
                                                                                                                                )
                                                                                                                                
                                                                                                                                (5.1
                                                                                                                                )
                                                                                                                                
                                                                                                                                (116.6
                                                                                                                                )Total
      income (loss) on discontinued operationsbefore
      income taxes
                                                                                                                                
                                                                                                                                (5.1
                                                                                                                                )
                                                                                                                                
                                                                                                                                (24.1
                                                                                                                                )
                                                                                                                                
                                                                                                                                (5.1
                                                                                                                                )
                                                                                                                                
                                                                                                                                65.8Income
      tax benefit (expense)
                                                                                                                                
                                                                                                                                2.0
                                                                                                                                
                                                                                                                                
                                                                                                                                5.9
                                                                                                                                
                                                                                                                                
                                                                                                                                2.0
                                                                                                                                
                                                                                                                                
                                                                                                                                (31.1
                                                                                                                                )Income
      (loss) from discontinued operations,net
      of income taxes
                                                                                                                                $
                                                                                                                                (3.1
                                                                                                                                )
                                                                                                                                $
                                                                                                                                (18.2
                                                                                                                                )
                                                                                                                                $
                                                                                                                                (3.1
                                                                                                                                )
                                                                                                                                $
                                                                                                                                34.7(a)
                                                                                                                                Three
      months ended and year to date June 30, 2008, amounts include $106.0
      million and $189.1 million,respectively
      of unrealized net gains related to derivatives
  contracts.
 21.
                                                                SUBSEQUENT
      EVENTS
  In May
2009, the FASB issued SFAS No. 165, “Subsequent Events” to establish general
standards of accounting for and disclosure of events that occur after the
balance sheet date but before financial statements are
issued.  Management is unaware of any subsequent events to August 5,
2009, which is the date the financial statements were issued, and found no
significant subsequent events which would require disclosure.
  22.
                                                                NEW
      ACCOUNTING STANDARDS
  SFAS
No. 166
 In June
2009, the FASB issued SFAS No. 166, “Accounting for Transfers of Financial
Assets – an amendment of FASB Statement No. 140”, which amends the derecognition
guidance in SFAS No. 140 and eliminates the concept of a qualifying
special-purpose entity (QSPEs).  The provisions of this statement are
effective for Great Plains Energy and KCP&L for financial asset transfers
occurring after January 1, 2010, and requires transferors to
 64
 evaluate
all existing QSPEs to determine whether they must be consolidated effective
January 1, 2010, in accordance with SFAS No. 167.   Management is
currently evaluating the impact of SFAS No. 166 and has not yet determined the
impact on Great Plains Energy’s and KCP&L’s consolidated financial
statements.
  SFAS
No. 167
 In June
2009, the FASB issued SFAS No. 167, “Amendments to FASB Interpretation No.
46(R)”, which amends the consolidation guidance applicable to variable interest
entities (VIEs) requiring companies to reconsider previous Interpretation No.
46(R) conclusions, including whether an entity is a VIE, whether the Company is
the VIEs primary beneficiary and what type of financial statement disclosures
are required.  The provisions of this statement are effective January
1, 2010, for Great Plains Energy and KCP&L.  Management is
currently evaluating the impact of SFAS No. 167 and has not yet determined the
impact on Great Plains Energy’s and KCP&L’s consolidated financial
statements.
  ITEM
2.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
  GREAT
PLAINS ENERGY INCORPORATED
  EXECUTIVE
SUMMARY
  Description
of Business
 Great
Plains Energy is a public utility holding company and does not own or operate
any significant assets other than the stock of its
subsidiaries.  Great Plains Energy’s direct subsidiaries are
KCP&L, GMO, KLT Inc. and Services.  Great Plains Energy acquired
GMO on July 14, 2008.  Great Plains Energy’s sole reportable business
segment is electric utility for the periods presented.  For the three
months ended and year to date June 30, 2008, Great Plains Energy’s electric
utility segment is the same as the previously reported KCP&L
segment.
  Electric
utility consists of KCP&L, a regulated utility, and GMO’s regulated utility
operations, which include its Missouri Public Service and St. Joseph Light &
Power divisions.  Electric utility has over 6,000 MWs of generating
capacity and engages in the generation, transmission, distribution and sale of
electricity to over 820,000 customers in the states of Missouri and
Kansas.  Electric utility’s retail electricity rates are below the
national average of investor-owned utilities.
  Earnings
Overview
 Great
Plains Energy’s earnings available for common shareholders for the three months
ended June 30, 2009, were $33.3 million, or $0.26 per share, including a loss of
$3.1 million, or $0.02 per share, from the discontinued operations of Strategic
Energy and income of $8.4 million, or $0.07 per share, from GMO.  For
the same period in 2008, Great Plains Energy had a loss available for common
shareholders of $5.4 million, or $0.06 per share, including a loss of $18.2
million or $0.21 per share, from the discontinued operations of Strategic
Energy.  Great Plains Energy’s earnings available for common
shareholders year to date June 30, 2009, were $54.6 million, or $0.44 per share,
including a loss of $3.1 million, or $0.03 per share, from the discontinued
operations of Strategic Energy and income of $24.6 million, or $0.20 per share,
from GMO.  The $24.6 million from GMO includes a $16.0 million tax
benefit due to the settlement of GMO’s 2003-2004 tax audit in the first quarter
of 2009.  For the same period in 2008, Great Plains Energy had
earnings available for common shareholders of $41.7 million, or $0.49 per share,
including income from discontinued operations of $34.7 million, or $0.40 per
share.  Compared to the same periods in 2008, earnings for the three
months ended and year to date June 30, 2009, were increased by lower purchased
power expense, lower other operating expense, lower income tax expense and
increased AFUDC, partially offset by lower wholesale revenues, increased
depreciation expense and increased interest expense at KCP&L.
 65
 Strategic
Focus
 Comprehensive
Energy Plan – Iatan No. 1 environmental and Iatan No. 2
 In the
first quarter of 2009, KCP&L completed construction of the Iatan No. 1
environmental project and certain Iatan common facilities.  A
scheduled outage at Iatan No. 1 began in mid-October 2008 for a unit overhaul
and to tie in the environmental equipment.  Iatan No. 1 was originally
scheduled to be back on-line in February 2009, but, during start-up, a high
level of turbine vibration was experienced.  The turbine was repaired
and Iatan No. 1 came back on-line in April 2009.  KCP&L continues
to make progress on the construction of Iatan No. 2.  During the
second quarter of 2009, KCP&L completed a cost and schedule reforecast for
the Iatan No. 2 project.  The anticipated in-service date for Iatan
No. 2 is late summer of 2010.  The following table summarizes the
current cost estimates for Iatan No. 2, exclusive of AFUDC and any costs for
Iatan Common facilities that will be used by both Iatan No. 1 and Iatan No.
2.  The cost estimates for Iatan Common facilities are unchanged from
the amounts disclosed in the 2008 Form 10-K.
 Current
      Estimate
                                                                                                                                                                                                                                                                                                                                                                                                                                            Previous
      EstimateRange
                                                                                                                                                                                                                                                                                                                                                                                                                                            Range
                                                                                                                                                                                                                                                                                                                                                                                                                                            Change(millions)KCP&L's
      55% share of Iatan No. 2
                                                                                                                                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                                                                                                                                            868
                                                                                                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                                                                                                                                            904
                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                                                                                                                                            847
                                                                                                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                                                                                                                                            904
                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                                                                                                                                            21
                                                                                                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                                                                                                                                                                                                                                                            -Great
      Plains Energy's 73% share of Iatan No. 2
                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                            1,153
                                                                                                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                            1,201
                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                            1,125
                                                                                                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                            1,201
                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                            28
                                                                                                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                            -
 Regulatory
Proceedings
 In
September 2008, KCP&L filed a request with the MPSC for an annual rate
increase of $101.5 million, with $15.1 million of that amount treated for
accounting purposes as additional amortization.  On June 10, 2009, the
MPSC issued its order approving in its entirety a stipulation and agreement
between KCP&L and other parties to KCP&L’s rate case before the
MPSC.  The stipulation and agreement provides for, among other things,
an increase in annual revenues of $95 million effective September 1, 2009, with
$10 million of that amount treated for accounting purposes as additional
amortization.  Parties may challenge the prudence of the cost of the
Iatan Unit No. 1 environmental project and the cost of facilities used in common
by Iatan Units No. 1 and No. 2 in KCP&L’s next rate case, but the Missouri
jurisdictional portion of any proposed rate base prudence disallowances will not
exceed $30 million in aggregate.
 In
September 2008, GMO filed a request with the MPSC for an annual electric rate
increase of $83.1 million ($66.0 million for GMO’s MPS jurisdiction, and $17.1
million for GMO’s L&P jurisdiction.  On June 10, 2009, the MPSC
issued its order approving in its entirety a stipulation and agreement between
GMO and other parties to GMO’s electric rate case before the
MPSC.  The stipulation and agreement provides for, among other things,
an increase in annual revenues of $63 million ($48 million for GMO’s MPS
jurisdiction, and $15 million for GMO’s L&P jurisdiction) effective
September 1, 2009.  Parties may challenge the prudence of the cost of the
Iatan Unit No. 1 environmental project and the cost of facilities used in common
by Iatan Units No. 1 and No. 2 in GMO’s next rate case, but the GMO Missouri
portion of any proposed rate base prudence disallowances will not exceed $15
million in aggregate.  The order also continues the GMO MPS and L&P
FACs.
  In
September 2008, GMO filed a request with the MPSC for an annual steam rate
increase of $1.3 million.  On June 10, 2009, the MPSC issued its order
approving in its entirety a stipulation and agreement between GMO and other
parties to GMO’s steam rate case before the MPSC.  The stipulation and
agreement provides for an increase in annual revenues of approximately $1
million, effective July 1, 2009.  The order allows for the QCA fuel
sharing mechanism to be established at 85% above the fuel cost included in
base rates.  The previous sharing mechanism was set at 80% above
the fuel cost included in base rates.
  In
September 2008, KCP&L filed a request with KCC for an annual rate increase
of $71.6 million, with $11.2 million of that amount treated for accounting
purposes as additional amortization.  On July 24,
 66
 2009, KCC
issued its order approving in its entirety a stipulation and agreement between
KCP&L and other parties to KCP&L’s rate case before KCC.  The
stipulation and agreement provides for, among other things, an increase in
annual revenues of $59 million effective August 1, 2009, with $18 million of
that amount treated for accounting purposes as additional
amortization.  Parties may challenge the prudence of the cost of the
Iatan Unit No. 1 environmental project and the costs of facilities used in
common by Iatan Units No. 1 and No. 2 in KCP&L’s next rate case, but the
Kansas jurisdictional portion of any proposed rate base prudence disallowances
will not exceed (i) $4.7 million for costs paid or approved for payment as of
April 30, 2009 and in-service as of July 4, 2009, and (ii) $2.8 million for the
first $56 million of costs not paid or approved for payment as of April 30,
2009.  There is no cap as to the amount of disallowances that may be
proposed for costs above this $56 million amount.
  RELATED PARTY
TRANSACTIONS
  See Note
15 to the consolidated financial statements for information regarding related
party transactions.
  ENVIRONMENTAL
MATTERS
  See Note
13 to the consolidated financial statements for information regarding
environmental matters.
  GREAT PLAINS ENERGY RESULTS
OF OPERATIONS
  The
following table summarizes Great Plains Energy’s comparative results of
operations.  GMO’s results of operations are only included for the
periods subsequent to the July 14, 2008, date of acquisition.
 Three
      Months Ended
                                                                                                                                                    Year
      to DateJune
      30
                                                                                                                                                    June
      302009
                                                                                                                                                    2008
                                                                                                                                                    2009
                                                                                                                                                    2008(millions)Operating
      revenues
                                                                                                                                                    $
                                                                                                                                                    480.5
                                                                                                                                                    
                                                                                                                                                    $
                                                                                                                                                    335.0
                                                                                                                                                    
                                                                                                                                                    $
                                                                                                                                                    899.7
                                                                                                                                                    
                                                                                                                                                    $
                                                                                                                                                    632.6Fuel
                                                                                                                                                    
                                                                                                                                                    (96.8
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (58.3
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (184.4
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (113.0
                                                                                                                                                    )Purchased
      power
                                                                                                                                                    
                                                                                                                                                    (37.6
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (38.2
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (94.8
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (69.0
                                                                                                                                                    )Other
      operating expenses
                                                                                                                                                    
                                                                                                                                                    (182.4
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (136.1
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (366.9
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (278.9
                                                                                                                                                    )Depreciation
      and amortization
                                                                                                                                                    
                                                                                                                                                    (73.4
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (50.8
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (142.4
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (101.0
                                                                                                                                                    )Operating
      income
                                                                                                                                                    
                                                                                                                                                    90.3
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    51.6
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    111.2
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    70.7Non-operating
      income and expenses
                                                                                                                                                    
                                                                                                                                                    10.6
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    4.4
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    22.5
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    12.4Interest
      charges
                                                                                                                                                    
                                                                                                                                                    (46.9
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (10.4
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (84.2
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (52.0
                                                                                                                                                    )Income
      tax (expense) benefit
                                                                                                                                                    
                                                                                                                                                    (17.0
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (32.0
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    9.3
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    (22.5
                                                                                                                                                    )Loss
      from equity investments
                                                                                                                                                    
                                                                                                                                                    (0.1
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (0.4
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (0.2
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (0.8
                                                                                                                                                    )Income
      from continuing operations
                                                                                                                                                    
                                                                                                                                                    36.9
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    13.2
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    58.6
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    7.8Income
      (loss) from discontinued operations
                                                                                                                                                    
                                                                                                                                                    (3.1
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (18.2
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (3.1
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    34.7Net
      income (loss)
                                                                                                                                                    
                                                                                                                                                    33.8
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    (5.0
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    55.5
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    42.5Less:
      Net income attributable to noncontrolling interest
                                                                                                                                                    
                                                                                                                                                    (0.1
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    -
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    (0.1
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    -Net
      income (loss) attributable to Great Plains Energy
                                                                                                                                                    
                                                                                                                                                    33.7
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    (5.0
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    55.4
                                                                                                                                                    
                                                                                                                                                    
                                                                                                                                                    42.5Preferred
      dividends
                                                                                                                                                    
                                                                                                                                                    (0.4
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (0.4
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (0.8
                                                                                                                                                    )
                                                                                                                                                    
                                                                                                                                                    (0.8
                                                                                                                                                    )Earnings
      (loss) available for common shareholders
                                                                                                                                                    $
                                                                                                                                                    33.3
                                                                                                                                                    
                                                                                                                                                    $
                                                                                                                                                    (5.4
                                                                                                                                                    )
                                                                                                                                                    $
                                                                                                                                                    54.6
                                                                                                                                                    
                                                                                                                                                    $
                                                                                                                                                    41.7
 67
 Three
Months Ended June 30, 2009 Compared to June 30, 2008
 Great
Plains Energy’s earnings available for common shareholders for the three months
ended June 30, 2009, increased to $33.3 million, or $0.26 per share, from a loss
of $5.4 million, or $0.06 per share, for the same period in 2008.  A
higher average number of common shares diluted earnings per share by $0.13 for
the three months ended June 30, 2009.  Great Plains Energy’s
significant share issuances were 32.2 million common shares for the acquisition
of GMO in July 2008 and 11.5 million common shares in May 2009.
  Electric
utility’s net income increased $34.9 million for the three months ended June 30,
2009, compared to the same period in 2008.  The acquisition of GMO
increased electric utility’s net income $7.9 million.  The remaining
increase was primarily due to lower purchased power expense, lower other
operating expense, lower income tax expense and increased AFUDC, partially
offset by lower wholesale revenues, increased depreciation expense and increased
interest expense at KCP&L.
  Great
Plains Energy’s corporate and other activities recognized a loss from continuing
operations of $6.4 million for the three months ended June 30, 2009, compared to
income of $4.9 million for the same period in 2008 due to $3.5 million of
additional interest expense for Equity Units issued in 2009 and the 2008 impact
of an $8.0 million after-tax gain for the change in fair value of interest rate
hedges.  The acquisition of GMO increased Great Plains Energy’s
corporate and other activities income $0.5 million.
  Year
to Date June 30, 2009 Compared to June 30, 2008
 Great
Plains Energy’s earnings available for common shareholders year to date June 30,
2009, increased to $54.6 million, or $0.44 per share, from $41.7 million, or
$0.49 per share, for the same period in 2008.  A higher average number
of common shares diluted earnings per share by $0.20 year to date June 30,
2009.  Great Plains Energy’s significant share issuances were 32.2
million common shares for the acquisition of GMO in July 2008 and 11.5 million
common shares in May 2009.
  Electric
utility’s net income increased $25.3 million year to date June 30, 2009,
compared to the same period in 2008.  The acquisition of GMO increased
electric utility’s net income $6.9 million.  The remaining increase
was primarily due to lower purchased power expense, lower other operating
expense, lower income tax expense and increased AFUDC, partially offset by lower
wholesale revenues, increased depreciation expense and increased interest
expense at KCP&L.
  Great
Plains Energy’s corporate and other activities recognized income from continuing
operations of $7.5 million year to date June 30, 2009, compared to a loss of
$17.9 million for the same period in 2008.  The acquisition of GMO
increased Great Plains Energy’s corporate and other activities income $17.7
million.  This $17.7 million includes a $16.0 million tax benefit due
to the settlement of GMO’s 2003-2004 tax audit in the first quarter of
2009.  The favorable GMO impact was partially offset by $3.5 million
of additional interest expense for Equity Units issued in
2009.  Additionally, 2008 reflects a $5.7 million after-tax loss for
the change in fair value of interest rate hedges, $4.8 million of merger labor
expense and $3.4 million of after-tax income related to the release of an
accrued legal liability.
 68
 ELECTRIC UTILITY RESULTS OF
OPERATIONS
  The
following table summarizes the electric utility segment results of
operations.
 Three
      Months Ended
                                                                                                                                  Year
      to DateJune
      30
                                                                                                                                  June
      302009
                                                                                                                                  2008
                                                                                                                                  2009
                                                                                                                                  2008(millions)Operating
      revenues
                                                                                                                                  $
                                                                                                                                  480.5
                                                                                                                                  
                                                                                                                                  $
                                                                                                                                  335.0
                                                                                                                                  
                                                                                                                                  $
                                                                                                                                  899.7
                                                                                                                                  
                                                                                                                                  $
                                                                                                                                  632.6Fuel
                                                                                                                                  
                                                                                                                                  (96.8
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (58.3
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (184.4
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (113.0
                                                                                                                                  )Purchased
      power
                                                                                                                                  
                                                                                                                                  (37.6
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (38.2
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (94.8
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (69.0
                                                                                                                                  )Other
      operating expenses
                                                                                                                                  
                                                                                                                                  (178.2
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (135.2
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (359.4
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (267.7
                                                                                                                                  )Depreciation
      and amortization
                                                                                                                                  
                                                                                                                                  (73.4
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (50.8
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (142.4
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (101.0
                                                                                                                                  )Operating
      income
                                                                                                                                  
                                                                                                                                  94.5
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  52.5
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  118.7
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  81.9Non-operating
      income and expenses
                                                                                                                                  
                                                                                                                                  8.1
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  4.3
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  19.8
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  6.5Interest
      charges
                                                                                                                                  
                                                                                                                                  (40.7
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (19.9
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (75.0
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (36.7
                                                                                                                                  )Income
      tax expense
                                                                                                                                  
                                                                                                                                  (19.1
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (29.0
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (13.3
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (26.8
                                                                                                                                  )Net
      income
                                                                                                                                  $
                                                                                                                                  42.8
                                                                                                                                  
                                                                                                                                  $
                                                                                                                                  7.9
                                                                                                                                  
                                                                                                                                  $
                                                                                                                                  50.2
                                                                                                                                  
                                                                                                                                  $
                                                                                                                                  24.9
 Electric
Utility Revenues and MWh Sales
 Three
      Months Ended
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  Year
      to DateJune
      30
                                                                                                                                                  %
                                                                                                                                                  June
      30
                                                                                                                                                  %2009
                                                                                                                                                  2008
                                                                                                                                                  Change
      (a)
                                                                                                                                                  2009
                                                                                                                                                  2008
                                                                                                                                                  Change
      (a)Retail
      revenues
                                                                                                                                                  (millions)
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  (millions)Residential
                                                                                                                                                  $
                                                                                                                                                  182.1
                                                                                                                                                  
                                                                                                                                                  $
                                                                                                                                                  105.0
                                                                                                                                                  
                                                                                                                                                  NM
                                                                                                                                                  
                                                                                                                                                  $
                                                                                                                                                  350.9
                                                                                                                                                  
                                                                                                                                                  $
                                                                                                                                                  205.4
                                                                                                                                                  
                                                                                                                                                  NMCommercial
                                                                                                                                                  
                                                                                                                                                  193.1
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  131.4
                                                                                                                                                  
                                                                                                                                                  NM
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  350.4
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  243.5
                                                                                                                                                  
                                                                                                                                                  NMIndustrial
                                                                                                                                                  
                                                                                                                                                  44.1
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  29.4
                                                                                                                                                  
                                                                                                                                                  NM
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  79.6
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  53.7
                                                                                                                                                  
                                                                                                                                                  NMOther
      retail revenues
                                                                                                                                                  
                                                                                                                                                  4.5
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  2.7
                                                                                                                                                  
                                                                                                                                                  NM
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  8.4
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  5.1
                                                                                                                                                  
                                                                                                                                                  NMFuel
      recovery mechanism under recovery
                                                                                                                                                  
                                                                                                                                                  2.7
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  7.8
                                                                                                                                                  
                                                                                                                                                  NM
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  14.5
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  17.3
                                                                                                                                                  
                                                                                                                                                  NMTotal
      retail
                                                                                                                                                  
                                                                                                                                                  426.5
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  276.3
                                                                                                                                                  
                                                                                                                                                  NM
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  803.8
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  525.0
                                                                                                                                                  
                                                                                                                                                  NMWholesale
      revenues
                                                                                                                                                  
                                                                                                                                                  45.0
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  54.7
                                                                                                                                                  
                                                                                                                                                  NM
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  73.7
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  97.8
                                                                                                                                                  
                                                                                                                                                  NMOther
      revenues
                                                                                                                                                  
                                                                                                                                                  9.0
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  4.0
                                                                                                                                                  
                                                                                                                                                  NM
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  22.2
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  9.8
                                                                                                                                                  
                                                                                                                                                  NMElectric
      utility revenues
                                                                                                                                                  $
                                                                                                                                                  480.5
                                                                                                                                                  
                                                                                                                                                  $
                                                                                                                                                  335.0
                                                                                                                                                  
                                                                                                                                                  NM
                                                                                                                                                  
                                                                                                                                                  $
                                                                                                                                                  899.7
                                                                                                                                                  
                                                                                                                                                  $
                                                                                                                                                  632.6
                                                                                                                                                  
                                                                                                                                                  NM
 Three
      Months Ended
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                Year
      to DateJune
      30
                                                                                                                                                                                                                                %
                                                                                                                                                                                                                                June
      30
                                                                                                                                                                                                                                %2009
                                                                                                                                                                                                                                2008
                                                                                                                                                                                                                                Change
      (a)
                                                                                                                                                                                                                                2009
                                                                                                                                                                                                                                2008
                                                                                                                                                                                                                                Change
      (a)Retail
      MWh sales
                                                                                                                                                                                                                                (thousands)
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                (thousands)Residential
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                1,929
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                1,155
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NM
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                4,220
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                2,561
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NMCommercial
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                2,705
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                1,891
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NM
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                5,255
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                3,745
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NMIndustrial
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                795
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                546
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NM
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                1,524
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                1,027
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NMOther
      retail MWh sales
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                31
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                20
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NM
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                60
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                35
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NMTotal
      retail
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                5,460
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                3,612
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NM
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                11,059
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                7,368
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NMWholesale
      MWh sales
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                1,441
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                1,140
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NM
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                2,254
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                2,083
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NMElectric
      utility MWh sales
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                6,901
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                4,752
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NM
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                13,313
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                9,451
                                                                                                                                                                                                                                
                                                                                                                                                                                                                                NM(a)
      Not meaningful due to the acquisition of GMO on July 14,
    2008.
 69
 Retail
revenues increased $150.2 million for the three months ended June 30, 2009,
compared to the same period in 2008.  The acquisition of GMO increased
retail revenue $148.6 million.  The remaining increase at KCP&L
was due to favorable weather in 2009, with a 17% increase in cooling degree
days, mostly offset by a decline in weather-normalized customer
usage.  Retail revenues increased $278.8 million year to date June 30,
2009, compared to the same period in 2008.  The acquisition of GMO
increased retail revenue $281.3 million.
  Wholesale
revenues decreased $9.7 million for the three months ended June 30, 2009,
compared to the same period in 2008.  The acquisition of GMO increased
wholesale revenues $1.8 million.  The decrease at KCP&L was due to
a 41% decrease in the average market price per MWh to $30.39, primarily due to
lower natural gas prices, partially offset by a 23% increase in MWh sold,
resulting from a 9% increase in MWh generated combined with increased MWhs
available for sale due to slightly reduced retail demand.  Wholesale
revenues decreased $24.1 million year to date June 30, 2009, compared to the
same period in 2008.  The acquisition of GMO increased wholesale
revenues $3.2 million.  The decrease at KCP&L was due to a 38%
decrease in the average market price per MWh to $30.53, primarily due to lower
natural gas prices, partially offset by a 4% increase in MWh sold.
  Electric
Utility Fuel and Purchased Power
 Three
      Months Ended
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              Year
      to DateJune
      30
                                                                                                                                                                                                              %
                                                                                                                                                                                                              June
      30
                                                                                                                                                                                                              %2009
                                                                                                                                                                                                              2008
                                                                                                                                                                                                              Change
                                                                                                                                                                                                              2009
                                                                                                                                                                                                              2008
                                                                                                                                                                                                              Change
      (a)Net
      MWhs Generated by Fuel Type
                                                                                                                                                                                                              (thousands)
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              (thousands)Coal
                                                                                                                                                                                                              
                                                                                                                                                                                                              4,858
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              3,718
                                                                                                                                                                                                              
                                                                                                                                                                                                              NM(a)
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              8,762
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              7,035
                                                                                                                                                                                                              
                                                                                                                                                                                                              NM(a)Nuclear
                                                                                                                                                                                                              
                                                                                                                                                                                                              1,151
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              599
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              92
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              2,352
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              1,544
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              52Natural
      gas and oil
                                                                                                                                                                                                              
                                                                                                                                                                                                              93
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              29
                                                                                                                                                                                                              
                                                                                                                                                                                                              NM(a)
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              118
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              54
                                                                                                                                                                                                              
                                                                                                                                                                                                              NM(a)Wind
                                                                                                                                                                                                              
                                                                                                                                                                                                              89
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              111
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              (21
                                                                                                                                                                                                              )
                                                                                                                                                                                                              
                                                                                                                                                                                                              191
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              215
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              (11
                                                                                                                                                                                                              )Total
      Generation
                                                                                                                                                                                                              
                                                                                                                                                                                                              6,191
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              4,457
                                                                                                                                                                                                              
                                                                                                                                                                                                              NM(a)
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              11,423
                                                                                                                                                                                                              
                                                                                                                                                                                                              
                                                                                                                                                                                                              8,848
                                                                                                                                                                                                              
                                                                                                                                                                                                              NM(a)(a)
      Not meaningful due to the acquisition of GMO on July 14,
    2008.
 KCP&L’s
coal base load equivalent availability factor for the three months ended and
year to date June 30, 2009, decreased to 78% and 70%, respectively, from 80% and
76% for the same periods in 2008.  The year to date decrease was
primarily due to the scheduled Iatan No. 1 outage for a unit overhaul and to tie
in new environmental equipment.  GMO’s coal base load equivalent
availability factor for the three months ended and year to date June 30, 2009,
was 82% and 77%, respectively.
 
 KCP&L’s
nuclear unit, Wolf Creek, accounts for approximately 15% of electric utility’s
base load capacity.  As a result of Wolf Creek coming back on-line
following the outage in spring 2008, the capacity and equivalent availability
factor for Wolf Creek increased to 97% for the three months ended and 99% and
98%, respectively, year to date June 30, 2009, compared to 50% and 65%,
respectively, for the same periods in 2008.
  Fuel
expense increased $38.5 million for the three months ended June 30, 2009,
compared to the same period in 2008.  The acquisition of GMO increased
fuel expense $36.7 million.  The increase at KCP&L was due to an
increase in MWhs generated and higher coal and coal transportation costs, mostly
offset by more nuclear in the fuel mix, which has a lower cost compared to other
fuel types, and lower natural gas prices.  Fuel expense increased
$71.4 million year to date June 30, 2009, compared to the same period in
2008.  The acquisition of GMO increased fuel expense $71.6
million.  The decrease at KCP&L was due to more nuclear in the
fuel mix and lower natural gas prices, mostly offset by an increase in MWhs
generated and higher coal and coal transportation costs.
 70
 Purchased
power expense decreased $0.6 million for the three months ended June 30, 2009,
compared to the same period in 2008.  The acquisition of GMO increased
purchased power expense $23.2 million.  The decrease at KCP&L was
primarily due to a 59% decrease in the average price per MWh as a result of
lower natural gas prices and a 23% decrease in MWh purchases primarily due to
the impact of the Wolf Creek outage in 2008.  Purchased power expense
increased $25.8 million year to date June 30, 2009, compared to the same period
in 2008.  The acquisition of GMO increased purchased power expense
$56.0 million.  The decrease at KCP&L was primarily due to a 52%
decrease in the average price per MWh as a result of lower natural gas prices
and a 7% decrease in MWh purchases due to reduced retail demand and the impact
of the extended Wolf Creek outage in 2008, partially offset by the extended
outage at Iatan No. 1 in 2009.
  Electric
Utility Other Operating Expenses (including utility operating
expenses, maintenance, general taxes and other)
 Electric
utility’s other operating expenses increased $43.0 million and $91.7 million for
the three months ended and year to date June 30, 2009, respectively, compared to
the same periods in 2008.  The acquisition of GMO increased other
operating expenses $51.3 million and $98.6 million, respectively, for the three
months ended and year to date June 30, 2009.  The decrease at
KCP&L was primarily due to increased use of internal labor on capital
projects as a result of more efficient operations as well as spending reductions
and realized synergies from the GMO acquisition.
  Electric
Utility Depreciation and Amortization
 Electric
utility’s depreciation and amortization costs increased $22.6 million and $41.4
million for the three months ended and year to date June 30, 2009, respectively,
compared to the same periods in 2008.  The acquisition of GMO
increased depreciation and amortization $18.2 million and $35.6 million for the
three months ended and year to date June 30, 2009, respectively.  The
remaining increases at KCP&L were due to placing the Iatan No. 1
environmental project in service during the second quarter of 2009 combined with
normal depreciation activity for capital additions.
  Electric
Utility Non-Operating Income and Expenses
 Electric
utility’s non-operating income and expenses increased $3.8 million and $13.3
million for the three months ended and year to date June 30, 2009, respectively,
compared to the same periods in 2008.  The acquisition of GMO
increased non-operating income and expenses $2.2 million and $5.8 million for
the three months ended and year to date June 30, 2009,
respectively.  The remaining increases at KCP&L were due toan increase in the
equity component of AFUDC resulting from a higher average construction work in
progress balance due to KCP&L’s Comprehensive Energy Plan
projects.
 
 Electric
Utility Interest Charges
 Electric
utility’s interest charges increased $20.8 million for the three months ended
June 30, 2009, compared to the same period in 2008.  The acquisition
of GMO increased interest charges $17.5 million.  The remaining
increase at KCP&L was primarily due to interest on $400.0 million of 7.15%
Mortgage Bonds Series 2009A issued in March 2009, partially offset by an
increase in the debt component of AFUDC resulting from a higher average
construction work in progress balance due to KCP&L’s Comprehensive Energy
Plan projects.
  Electric
utility’s interest charges increased $38.3 million year to date June 30, 2009,
compared to the same period in 2008.  The acquisition of GMO increased
interest charges $34.6 million.  The remaining increase at KCP&L
was primarily due to interest on $400.0 million of 7.15% Mortgage Bonds Series
2009A issued in March 2009 and on $350.0 million of 6.375% unsecured Senior
Notes issued in March 2008, partially offset by an increase in the debt
component of AFUDC resulting from a higher average construction work in progress
balance due to KCP&L’s Comprehensive Energy Plan projects.
  Electric
Utility Income Tax Expense
 Electric
utility’s income tax expense decreased $9.9 million and $13.5 million for the
three months ended and year to date June 30, 2009, respectively, compared to the
same periods in 2008.  The acquisition of GMO
 71
 increased
income tax expense $3.1 million and decreased income tax expense $0.1 million
for the three months ended and year to date June 30, 2009,
respectively.  The remaining decreases at KCP&L for both periods
were due to an increase in deferred tax balances in 2008 of $20.3 million as a
result of an increase in the composite tax rate reflecting the sale of Strategic
Energy partially offset by increased pre-tax income in
2009.  Additionally, year to date June 30, 2008, reflected $5.2
million of allocated tax benefits from holding company losses.  The
tax sharing agreement between Great Plains Energy and its subsidiaries was
modified on July 14, 2008.  As part of the new agreement, parent
company tax benefits are no longer allocated to KCP&L or other
subsidiaries.
  GREAT PLAINS ENERGYSIGNIFICANT
BALANCE SHEET CHANGES (June 30, 2009 compared to December 31,
2008)
  ·
                                                                Great
      Plains Energy’s funds on deposit decreased $5.8 million due to MPS
      Merchant closing positions with counterparties and reduced cash collateral
      requirements due to issuing a
guarantee.
  ·
                                                                Great
      Plains Energy’s refundable income taxes increased $9.5 million primarily
      due to recognition of $16.2 million of advanced coal credits and a
      decrease in income tax accruals driven by various deductions available for
      tax purposes including bonus depreciation.  Partially offsetting
      these increases was a $20.5 million reclassification of tax credits to
      deferred income taxes – noncurrent liabilities based on the expected
      amount of tax credits that will be utilized during 2009 and $8.4 million
      of tax refunds.  See Note 18 to the consolidated financial
      statements for additional information on the advanced coal
      credits.
  ·
                                                                Great
      Plains Energy’s deferred income taxes – current assets decreased $4.0
      million primarily due to a $10.9 million reclassification to deferred
      income taxes – noncurrent liabilities related to a revision of expected
      net operating loss utilization during 2009, partially offset by normal
      accruals based on current year taxable
income.
  ·
                                                                Great
      Plains Energy’s electric utility plant increased $728.4 million primarily
      due to the following projects placed in service, in addition to normal
      plant activity:
  ·
                                                                $517.0
      million for the Iatan No. 1 environmental project and certain common costs
      placed in service; and
  ·
                                                                $100.4
      million for environmental equipment at GMO’s Sibley No. 3 placed in
      service.
  ·
                                                                Great
      Plains Energy’s construction work in process decreased $329.7 million
      primarily due to $617.4 million of electric utility projects placed in
      service as described above, partially offset by a $219.9 million increase
      related to KCP&L’s Comprehensive Energy Plan and $51.0 million related
      to a KCP&L wind project, in addition to normal
    activity.
  ·
                                                                Great
      Plains Energy’s derivative instruments – other assets decreased $5.8
      million due to the decrease in fair value of MPS Merchant natural gas
      contracts.
  ·
                                                                Great
      Plains Energy’s notes payable and commercial paper decreased $94.0 million
      and $300.4 million, respectively, primarily due to repayments with
      proceeds from the following:
  ·
                                                                KCP&L’s
      issuance of $400.0 million of 7.15% Mortgage Bonds Series
      2009A,
  ·
                                                                Great
      Plains Energy’s issuance of $287.5 million of Equity Units and $161.0
      million of common stock, and
  ·
                                                                Great
      Plains Energy’s sale of $50.0 million of common stock under a Sales Agency
      Financing Agreement with BNY Mellon Capital Markets,
  LLC.
  These
      decreases were partially offset by a $79.1 million payment for the
      settlement of FSS and additional borrowings to support expenditures
      related to KCP&L’s Comprehensive Energy
  Plan.
  ·
                                                                Great
      Plains Energy’s accounts payable decreased $153.7 million primarily due to
      the timing of cash payments, including KCP&L’s Comprehensive Energy
      Plan projects and GMO’s Sibley SCR project, and decreases related to lower
      natural gas and purchased power
prices.
  ·
                                                                Great
      Plains Energy’s accrued taxes increased $31.0 million primarily due to an
      increase in property tax accruals due to the timing of tax
      payments.
 72
 ·
                                                                Great
      Plains Energy’s accrued compensation and benefits increased $7.9 million
      primarily due to the accrual of employee incentive
      compensation.
  ·
                                                                Great
      Plains Energy’s derivative instruments – current liabilities decreased
      $85.7 million primarily due to the settlement of FSS simultaneously with
      KCP&L’s issuance of $400.0 million of 7.15% Mortgage Bonds Series
      2009A in March 2009.
  ·
                                                                Great
      Plains Energy’s deferred income taxes – noncurrent liabilities decreased
      $43.0 million primarily due to a $74.5 million reduction related to the
      Joint Committee on Taxation approval of the IRS audit for GMO’s 2003-2004
      tax years, a reclassification of $20.5 million of tax credits from
      refundable income taxes based on the expected amount of tax credits that
      will be utilized during 2009 and a $10.9 million reclassification from
      deferred income taxes – current assets related to a revision of expected
      net operating loss utilization during 2009.  These decreases
      were partially offset by an increase in valuation allowance for federal
      and state net operating losses of $56.5
million.
  ·
                                                                Great
      Plains Energy’s deferred tax credits increased $15.1 million due to
      recognition of $16.2 million of advanced coal credits.  See Note
      18 to the consolidated financial statements for additional information on
      the advanced coal credits.
  ·
                                                                Great
      Plains Energy’s long-term debt increased $669.5 million due to KCP&L’s
      issuance of $400.0 million of 7.15% Mortgage Bonds Series 2009A in March
      2009 and Great Plains Energy’s issuance of $287.5 million of Equity Units
      in May 2009, partially offset by $16.5 million of amortization of GMO’s
      long-term debt fair value
adjustment.
  CAPITAL REQUIREMENTS AND
LIQUIDITY
  Great
Plains Energy operates through its subsidiaries and has no material assets other
than the stock of its subsidiaries.  Great Plains Energy’s ability to
make payments on its debt securities and its ability to pay dividends is
dependent on its receipt of dividends or other distributions from its
subsidiaries, proceeds from the issuance of its securities and borrowing under
its revolving credit facility.
  Great
Plains Energy’s capital requirements are principally comprised of debt
maturities and electric utility’s utility construction and other capital
expenditures.  These items as well as additional cash and capital
requirements are discussed below.
  Great
Plains Energy's liquid resources at June 30, 2009, consisted of $14.0 million of
cash and cash equivalents on hand and $1,174.3 million of unused bank lines of
credit.  The unused lines consisted of $533.2 million from KCP&L's
credit facilities, $284.0 million from GMO’s revolving credit facility and
$357.1 million from Great Plains Energy's revolving credit
facility.
  Great
Plains Energy intends to meet day-to-day cash flow requirements including
interest payments, retirement of maturing debt, construction requirements
(excluding KCP&L’s Comprehensive Energy Plan), dividends and pension benefit
plan funding requirements, discussed below, with a combination of internally
generated funds and proceeds from the issuance of equity securities,
equity-linked securities and/or short-term and long-term debt.  Great
Plains Energy’s intention to meet a portion of these requirements with
internally generated funds may, however, be impacted by the effect of inflation
on operating expenses, the level of MWh sales, regulatory actions, compliance
with environmental regulations and the availability of generating
units.  In addition, Great Plains Energy may issue equity,
equity-linked securities and/or debt to finance growth, maintain credit ratings
or take advantage of new opportunities.
  KCP&L
currently expects to fund its Comprehensive Energy Plan from a combination of
internal and external sources including, but not limited to, contributions from
rate increases, capital contributions to KCP&L from Great Plains Energy's
security issuances and new short and long-term debt financing.
 73
 Cash
Flows from Operating Activities
 Great
Plains Energy generated positive cash flows from operating activities for the
periods presented.  The decrease in cash flows from operating
activities for Great Plains Energy year to date June 30, 2009, compared to the
same period in 2008 is primarily due to a decrease in accounts payable due to
the timing of cash payments and KCP&L’s payment of $79.1 million for the
settlement of FSS upon the issuance of $400.0 million of 7.15% Mortgage Bonds
Series 2009A in March 2009.  Partially offsetting these decreases was
KCP&L’s first quarter 2008 payment of $41.2 million for the settlement of
three T-Locks.  Additionally, the year to date June 30, 2008, cash
flows from operating activities includes Strategic Energy.  Great
Plains Energy sold Strategic Energy in June 2008.  Other changes in
working capital are detailed in Note 3 to the consolidated financial
statements.  The individual components of working capital vary with
normal business cycles and operations.
  Cash
Flows from Investing Activities
 Great
Plains Energy’s cash used for investing activities varies with the timing of
utility capital expenditures and purchases of investments and nonutility
property.  Investing activities are offset by the proceeds from the
sale of properties and insurance recoveries.
  Great
Plains Energy’s utility capital expenditures increased $117.8 million year to
date June 30, 2009, compared to the same period in 2008.  The
acquisition of GMO increased cash utility capital expenditures $117.7
million.
  In June
2008, Great Plains Energy completed the sale of Strategic Energy and received
gross cash proceeds of $305.3 million.  At the time of the sale Strategic
Energy had $88.9 million of cash resulting in proceeds from sale of Strategic
Energy, net of cash sold of $216.4 million.
 
 Cash
Flows from Financing Activities
 Great
Plains Energy’s cash flows from financing activities year to date June 30, 2009,
reflect proceeds of $161.0 million from the issuance of 11.5 million shares of
common stock at $14 per share and proceeds of $287.5 million from the issuance
of 5.8 million Equity Units in May 2009.  See Note 11 to the
consolidated financial statements for more information on the Equity
Units.  Also reflected in the cash flows from financing activities
year to date June 30, 2009, is KCP&L’s issuance, at a discount, of $400.0
million of 7.15% Mortgage Bonds Series 2009A that mature in
2019.  Additionally in the first quarter of 2009, Great Plains Energy
sold 3,829,719 shares of common stock for $50.0 million in gross proceeds under
a Sales Agency Financing Agreement with BNY Mellon Capital Markets,
LLC.  Great Plains Energy has paid $22.4 million year to date June 30,
2009 for fees related to all issuances of debt and common stock.  The
proceeds from these issuances were used primarily to repay short-term
borrowings.
  Great
Plains Energy’s cash flows from financing activities year to date June 30, 2008,
reflect KCP&L’s issuance of $350.0 million of 6.375% unsecured Senior Notes
that mature in 2018, with the proceeds used primarily to repay short-term
borrowings.  KCP&L incurred additional short-term borrowings year
to date June 30, 2008, to support expenditures related to Comprehensive Energy
Plan projects.
  Financing
Authorization
 Under
stipulations with the MPSC and KCC, Great Plains Energy and KCP&L must
maintain common equity at not less than 30% and 35%, respectively, of total
capitalization.  KCP&L’s long-term financing activities are
subject to the authorization of the MPSC.  In 2008, the MPSC increased
KCP&L’s authorization to issue long-term debt and to enter into interest
rate hedging instruments in connection with such debt to $1.4 billion through
December 31, 2009.  KCP&L has utilized $1.25 billion of this
amount, leaving $146.0 million of authorization remaining.  In
addition, in February 2009, KCP&L received authorization to issue $196.5
million in mortgage bonds to insurers of KCP&L’s $196.5 million aggregate
principal amount of EIRR Bonds Series 2005 and Series 2007, if and as required
under the terms of the insurance agreements due to the issuance of other
mortgage bonds by KCP&L.  KCP&L utilized this authorization
with the issuance of $196.5 million in mortgage bonds to the bond insurers in
March 2009.  See Note 11 to the consolidated financial statements for
more information on these insurance agreements.
 74
 In
December 2008, FERC authorized KCP&L to have outstanding at any time up to a
total of $1.1 billion in short-term debt instruments through December
2010.  The authorization is subject to four restrictions: (i) proceeds
of debt backed by utility assets must be used for utility purposes; (ii) if any
utility assets that secure authorized debt are divested or spun off, the debt
must follow the assets and also be divested or spun off; (iii) if any proceeds
of the authorized debt are used for non-utility purposes, the debt must follow
the non-utility assets (specifically, if the non-utility assets are divested or
spun off, then a proportionate share of the debt must follow the divested or
spun off non-utility assets); and (iv) if utility assets financed by the
authorized short-term debt are divested or spun off to another entity, a
proportionate share of the debt must also be divested or spun off.  At
June 30, 2009, there was $1.0 billion available under this
authorization.  KCP&L and GMO are also authorized to participate
in the Great Plains Energy money pool.  The money pool is an internal
financing arrangement in which funds deposited into the money pool may be lent
on a short-term basis to KCP&L and GMO.  At June 30, 2009,
KCP&L had an outstanding payable under the money pool of $1.9 million to
Great Plains Energy.
  GMO has
$500.0 million of FERC short-term debt authorization through April 2010, subject
to the same four restrictions as the KCP&L FERC short-term authorization
discussed in the preceding paragraph.  At June 30, 2009, there was
$398.0 million available under this authorization.  GMO has $750.0
million of FERC long-term debt authorization through July 31, 2010, none of
which has been utilized.
  Debt
Agreements
 See Note
10 to the consolidated financial statements for discussion of revolving credit
facilities.
  Pension
and Post-retirement Plans
 The
Company maintains qualified defined benefit plans for substantially all
employees of KCP&L, GMO and WCNOC and incurs significant costs in providing
the plans.  Year to date June 30, 2009, the Company contributed $11.7
million to the plans and expects to contribute an additional $31.7 million to
satisfy the funding requirements of ERISA and MPSC and KCC rate
orders.  The majority of the contributions will be paid by KCP&L,
which management believes has adequate access to capital resources through cash
flows from operations or through existing lines of credit to support the funding
requirements.
  Additionally,
the Company provides post-retirement health and life insurance benefits for
certain retired employees and expects to make benefit contributions of $15.6
million under the provisions of these plans in 2009, with the majority paid by
KCP&L.
  Credit
Ratings
 On March
6, 2009, Standard & Poor’s affirmed the “BBB” corporate credit rating and
the long-term debt credit ratings for Great Plains Energy, KCP&L and
GMO.  Standard & Poor’s also revised its outlook on all three
companies to “Negative” from “Stable”, and lowered KCP&L’s short-term debt
credit rating to “A-3” from “A-2”.
 
 On March
11, 2009, Moody’s Investors Service lowered the senior unsecured ratings for
Great Plains Energy and GMO to “Baa3” from “Baa2”.  Moody’s Investors
Service also lowered KCP&L’s senior secured rating to “A3” from “A2” and
KCP&L’s senior unsecured rating to “Baa1” from “A3”.  Moody’s
Investors Service also affirmed KCP&L’s short term rating for commercial
paper at “Prime-2” and maintained its outlook for Great Plains Energy,
KCP&L, and GMO at “Negative.”
 
 A
securities rating is not a recommendation to buy, sell or hold securities and
may be subject to revision or withdrawal at any time by the assigning rating
agency.  Great Plains Energy and KCP&L view maintenance of strong
credit ratings as extremely important and to that end an active and ongoing
dialogue is maintained with the agencies with respect to results of operations,
financial position, and future prospects.  While a further decrease in
these credit ratings would not cause any acceleration of Great Plains Energy’s,
KCP&L’s or GMO’s debt, it could increase interest charges under Great Plains
Energy’s 6.875% Senior Notes due 2017, GMO’s 11.875% Senior Notes due 2012,
GMO’s 7.95% Senior Notes due 2011 and Great Plains Energy’s, KCP&L’s and
GMO’s
 75
 revolving
credit agreements.  The March 2009 credit rating actions did not have
a significant impact to interest charges under such debt for the three months
ended and year to date June 30, 2009.  A decrease in credit ratings
could also have, among other things, an adverse impact on Great Plains Energy’s,
KCP&L’s and GMO’s access to capital, the cost of funds, the amounts of
collateral required under supply agreements and Great Plains Energy’s ability to
provide credit support for its subsidiaries.
  KANSAS
CITY POWER & LIGHT COMPANY
  MANAGEMENT’S NARRATIVE
ANALYSIS OF RESULTS OF OPERATIONS
  The
following table summarizes KCP&L's consolidated comparative results of
operations.
 Three
      Months Ended
                                                                                                                                  Year
      to DateJune
      30
                                                                                                                                  June
      302009
                                                                                                                                  2008
                                                                                                                                  2009
                                                                                                                                  2008(millions)Operating
      revenues
                                                                                                                                  $
                                                                                                                                  324.8
                                                                                                                                  
                                                                                                                                  $
                                                                                                                                  335.0
                                                                                                                                  
                                                                                                                                  $
                                                                                                                                  602.3
                                                                                                                                  
                                                                                                                                  $
                                                                                                                                  632.6Fuel
                                                                                                                                  
                                                                                                                                  (60.1
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (58.3
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (112.8
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (113.0
                                                                                                                                  )Purchased
      power
                                                                                                                                  
                                                                                                                                  (14.4
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (38.2
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (38.8
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (69.0
                                                                                                                                  )Other
      operating expenses
                                                                                                                                  
                                                                                                                                  (126.9
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (135.2
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (260.8
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (267.7
                                                                                                                                  )Depreciation
      and amortization
                                                                                                                                  
                                                                                                                                  (55.2
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (50.8
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (106.8
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (101.0
                                                                                                                                  )Operating
      income
                                                                                                                                  
                                                                                                                                  68.2
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  52.5
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  83.1
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  81.9Non-operating
      income and expenses
                                                                                                                                  
                                                                                                                                  5.9
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  4.3
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  14.0
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  6.5Interest
      charges
                                                                                                                                  
                                                                                                                                  (23.2
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (19.9
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (40.4
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (36.7
                                                                                                                                  )Income
      tax expense
                                                                                                                                  
                                                                                                                                  (16.0
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (29.0
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (13.4
                                                                                                                                  )
                                                                                                                                  
                                                                                                                                  (26.8
                                                                                                                                  )Net
      income
                                                                                                                                  $
                                                                                                                                  34.9
                                                                                                                                  
                                                                                                                                  $
                                                                                                                                  7.9
                                                                                                                                  
                                                                                                                                  $
                                                                                                                                  43.3
                                                                                                                                  
                                                                                                                                  $
                                                                                                                                  24.9
 KCP&L
Revenues and MWh Sales
 Three
      Months Ended
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        Year
      to DateJune
      30
                                                                                                                                                        %
                                                                                                                                                        June
      30
                                                                                                                                                        %2009
                                                                                                                                                        2008
                                                                                                                                                        Change
                                                                                                                                                        2009
                                                                                                                                                        2008
                                                                                                                                                        ChangeRetail
      revenues
                                                                                                                                                        (millions)
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        (millions)Residential
                                                                                                                                                        $
                                                                                                                                                        114.2
                                                                                                                                                        
                                                                                                                                                        $
                                                                                                                                                        105.0
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        9
                                                                                                                                                        
                                                                                                                                                        $
                                                                                                                                                        212.7
                                                                                                                                                        
                                                                                                                                                        $
                                                                                                                                                        205.4
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        4Commercial
                                                                                                                                                        
                                                                                                                                                        137.7
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        131.4
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        5
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        252.9
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        243.5
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        4Industrial
                                                                                                                                                        
                                                                                                                                                        26.7
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        29.4
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        (9
                                                                                                                                                        )
                                                                                                                                                        
                                                                                                                                                        50.2
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        53.7
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        (7
                                                                                                                                                        )Other
      retail revenues
                                                                                                                                                        
                                                                                                                                                        2.6
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        2.7
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        (6
                                                                                                                                                        )
                                                                                                                                                        
                                                                                                                                                        5.2
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        5.1
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        1Kansas
      ECA (over) under recovery
                                                                                                                                                        
                                                                                                                                                        (3.3
                                                                                                                                                        )
                                                                                                                                                        
                                                                                                                                                        7.8
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        (143
                                                                                                                                                        )
                                                                                                                                                        
                                                                                                                                                        1.5
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        17.3
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        (92
                                                                                                                                                        )Total
      retail
                                                                                                                                                        
                                                                                                                                                        277.9
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        276.3
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        1
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        522.5
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        525.0
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        -Wholesale
      revenues
                                                                                                                                                        
                                                                                                                                                        43.2
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        54.7
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        (21
                                                                                                                                                        )
                                                                                                                                                        
                                                                                                                                                        70.5
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        97.8
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        (28
                                                                                                                                                        )Other
      revenues
                                                                                                                                                        
                                                                                                                                                        3.7
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        4.0
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        (4
                                                                                                                                                        )
                                                                                                                                                        
                                                                                                                                                        9.3
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        9.8
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        (4
                                                                                                                                                        )KCP&L
      revenues
                                                                                                                                                        $
                                                                                                                                                        324.8
                                                                                                                                                        
                                                                                                                                                        $
                                                                                                                                                        335.0
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        (3
                                                                                                                                                        )
                                                                                                                                                        $
                                                                                                                                                        602.3
                                                                                                                                                        
                                                                                                                                                        $
                                                                                                                                                        632.6
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        (5
                                                                                                                                                        )
 76
 Three
      Months Ended
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    Year
      to DateJune
      30
                                                                                                                                                                                                                    %
                                                                                                                                                                                                                    June
      30
                                                                                                                                                                                                                    %2009
                                                                                                                                                                                                                    2008
                                                                                                                                                                                                                    Change
                                                                                                                                                                                                                    2009
                                                                                                                                                                                                                    2008
                                                                                                                                                                                                                    ChangeRetail
      MWh sales
                                                                                                                                                                                                                    (thousands)
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    (thousands)Residential
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    1,205
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    1,155
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    4
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    2,515
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    2,561
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    (2
                                                                                                                                                                                                                    )Commercial
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    1,907
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    1,891
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    1
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    3,716
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    3,745
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    (1
                                                                                                                                                                                                                    )Industrial
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    460
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    546
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    (16
                                                                                                                                                                                                                    )
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    910
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    1,027
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    (11
                                                                                                                                                                                                                    )Other
      retail MWh sales
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    21
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    20
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    (2
                                                                                                                                                                                                                    )
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    44
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    35
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    21Total
      retail
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    3,593
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    3,612
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    (1
                                                                                                                                                                                                                    )
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    7,185
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    7,368
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    (2
                                                                                                                                                                                                                    )Wholesale
      MWh sales
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    1,397
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    1,140
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    23
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    2,174
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    2,083
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    4KCP&L
      electric MWh sales
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    4,990
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    4,752
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    5
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    9,359
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    9,451
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    
                                                                                                                                                                                                                    (1
                                                                                                                                                                                                                    )
 Retail
revenues increased $1.6 million for the three months ended June 30, 2009,
compared to the same period in 2008 primarily due to favorable weather in 2009,
with a 17% increase in cooling degree days, mostly offset by a decline in
weather-normalized customer usage.  Retail revenues decreased $2.5
million year to date June 30, 2009, compared to the same period in 2008
primarily due to a decline in weather-normalized customer usage.
  Wholesale
revenues decreased $11.5 million for the three months ended June 30, 2009,
compared to the same period in 2008 due to a 41% decrease in the average market
price per MWh to $30.39, primarily due to lower natural gas prices, partially
offset by a 23% increase in MWh sold, resulting from a 9% increase in MWh
generated combined with increased MWh available for sale due to slightly reduced
retail demand.  Wholesale revenues decreased $27.3 million year to
date June 30, 2009, compared to the same period in 2008 due to a 38% decrease in
the average market price per MWh to $30.53, primarily due to lower natural gas
prices, partially offset by a 4% increase in MWh sold.
  KCP&L
Fuel and Purchased Power
 Three
      Months Ended
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              Year
      to DateJune
      30
                                                                                                                                                                                              %
                                                                                                                                                                                              June
      30
                                                                                                                                                                                              %2009
                                                                                                                                                                                              2008
                                                                                                                                                                                              Change
                                                                                                                                                                                              2009
                                                                                                                                                                                              2008
                                                                                                                                                                                              ChangeNet
      MWhs Generated by Fuel Type
                                                                                                                                                                                              (thousands)
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              (thousands)Coal
                                                                                                                                                                                              
                                                                                                                                                                                              3,536
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              3,718
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              (5
                                                                                                                                                                                              )
                                                                                                                                                                                              
                                                                                                                                                                                              6,256
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              7,035
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              (11
                                                                                                                                                                                              )Nuclear
                                                                                                                                                                                              
                                                                                                                                                                                              1,151
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              599
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              92
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              2,352
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              1,544
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              52Natural
      gas and oil
                                                                                                                                                                                              
                                                                                                                                                                                              64
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              29
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              126
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              68
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              54
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              26Wind
                                                                                                                                                                                              
                                                                                                                                                                                              89
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              111
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              (21
                                                                                                                                                                                              )
                                                                                                                                                                                              
                                                                                                                                                                                              191
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              215
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              (11
                                                                                                                                                                                              )Total
      Generation
                                                                                                                                                                                              
                                                                                                                                                                                              4,840
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              4,457
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              9
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              8,867
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              8,848
                                                                                                                                                                                              
                                                                                                                                                                                              
                                                                                                                                                                                              -
 KCP&L’s
coal base load equivalent availability factor for the three months ended and
year to date June 30, 2009, decreased to 78% and 70%, respectively, from 80% and
76% for the same periods in 2008.  The year to date decrease is
primarily due to the scheduled Iatan No. 1 outage for a unit overhaul and to tie
in new environmental equipment.
 
 KCP&L’s
nuclear unit, Wolf Creek, accounts for approximately 19% of its base load
capacity.  As a result of Wolf Creek coming back on-line following the
outage in spring 2008, the capacity and equivalent availability factor for Wolf
Creek increased to 97% for the three months ended and 99% and 98%, respectively,
year to date June 30, 2009, compared to 50% and 65%, respectively, for the same
periods in 2008.
  Fuel
expense increased $1.8 million for the three months ended June 30, 2009,
compared to the same period in 2008 due to an increase in MWhs generated and
higher coal and coal transportation costs, mostly offset by more nuclear in the
fuel mix, which has a lower cost compared to other fuel types, and lower natural
gas prices.  Fuel expense decreased $0.2 million year to date June 30,
2009, compared to the same period in 2008 due to more
 77
 nuclear
in the fuel mix and lower natural gas prices, mostly offset by an increase in
MWhs generated and higher coal and coal transportation costs.
 
 Purchased
power expense decreased $23.8 million for the three months ended June 30, 2009,
compared to the same period in 2008 due to a 59% decrease in the average price
per MWh as a result of lower natural gas prices and a 23% decrease in MWh
purchases primarily due to the impact of the Wolf Creek outage in
2008.  Purchased power expense decreased $30.2 million year to date
June 30, 2009, compared to the same period in 2008 primarily due to a 52%
decrease in the average price per MWh as a result of lower natural gas prices
and a 7% decrease in MWh purchases due to reduced retail demand and the impact
of the extended Wolf Creek outage in 2008, partially offset by the extended
outage at Iatan No. 1 in 2009.
  KCP&L
Other Operating Expenses (including operating expenses,
maintenance, general taxes and other)
 KCP&L’s
other operating expenses decreased $8.3 million and $6.9 million, respectively,
for the three months ended and year to date June 30, 2009, compared to the same
periods in 2008 primarily due to increased use of internal labor on capital
projects as a result of more efficient operations as well as spending reductions
and realized synergies from the GMO acquisition.
  KCP&L
Depreciation and Amortization
 KCP&L’s
depreciation and amortization increased $4.4 million and $5.8 million for the
three months ended and year to date June 30, 2009, respectively, compared to the
same periods in 2008 primarily due to placing the Iatan No. 1 environmental
project in service during the second quarter of 2009 combined with normal
depreciation activity for capital additions.
 
 KCP&L
Non-operating Income and Expenses
 KCP&L’s
non-operating income and expenses increased $1.6 million and $7.5 million for
the three months ended and year to date June 30, 2009, respectively, compared to
the same periods in 2008 primarily due to an increase in the equity component of
AFUDC resulting from a higher average construction work in progress balance due
to KCP&L’s Comprehensive Energy Plan projects.
 
 KCP&L
Interest Charges
 KCP&L’s
interest charges increased $3.3 million for the three months ended June 30,
2009, compared to the same period in 2008 primarily due to interest on $400.0
million of 7.15% Mortgage Bonds Series 2009A issued in March 2009, partially
offset by an increase in the debt component of AFUDC resulting from a higher
average construction work in progress balance due to KCP&L’s Comprehensive
Energy Plan projects.
  KCP&L’s
interest charges increased $3.7 million year to date June 30, 2009, compared to
the same period in 2008 primarily due to interest on $400.0 million of 7.15%
Mortgage Bonds Series 2009A issued in March 2009 and on $350.0 million of 6.375%
unsecured Senior Notes issued in March 2008, partially offset by an increase in
the debt component of AFUDC resulting from a higher average construction work in
progress balance due to KCP&L’s Comprehensive Energy Plan
projects.
  KCP&L
Income Tax Expense
 KCP&L’s
income tax expense decreased $13.0 million and $13.4 million for the three
months ended and year to date June 30, 2009, compared to the same periods in
2008 primarily due to an increase in deferred tax balances in 2008 of $20.3
million as a result of an increase in the composite tax rate reflecting the sale
of Strategic Energy partially offset by increased pre-tax
income.  Additionally, year to date June 30, 2008, reflected $5.2
million of allocated tax benefits from holding company losses.  The
tax sharing agreement between Great Plains Energy and its subsidiaries was
modified on July 14, 2008.  As part of the new agreement, parent
company tax benefits are no longer allocated to KCP&L or other
subsidiaries.
 78
 ITEM
3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK
  Great
Plains Energy and KCP&L are exposed to market risks associated with
commodity price and supply, interest rates and equity prices.  Market
risks are handled in accordance with established policies, which may include
entering into various derivative transactions.  In the normal course
of business, Great Plains Energy and KCP&L also face risks that are either
non-financial or non-quantifiable.  Such risks principally include
business, legal, regulatory, operational and credit risks and are discussed
elsewhere in this document as well as in the 2008 Form 10-K and therefore are
not represented here.
  Great
Plains Energy and KCP&L interim period disclosures about market risk
included in quarterly reports on Form 10-Q address material changes, if any,
from the most recently filed annual report on Form 10-K.  Therefore,
these interim period disclosures should be read in connection with Item 7A.
Quantitative and Qualitative Disclosures About Market Risk, included in the 2008
Form 10-K of each of Great Plains Energy and KCP&L, incorporated herein by
reference.
  MPS
Merchant is exposed to market risk, including changes in commodity
prices.  To manage the volatility relating to these exposures, MPS
Merchant enters into various derivative transactions in accordance with the risk
management policy.  The trading portfolios consist of natural gas
contracts that are settled by the delivery of the commodity or
cash.  These contracts take many forms, including futures, forwards,
swaps and options.  Although MPS Merchant maintains a number of
transactions which are fully hedged via back-to-back deals, the business also
retains two contractual obligations that are not fully hedged.  MPS
Merchant is exposed to intra-month natural gas price volatility, with contracts
that have a fixed price set at the beginning of each month at which customers
have an option to purchase gas from MPS Merchant within the
month.  Customers typically exercise this option when natural gas
prices rise, thereby creating an exposure for MPS Merchant.  A
hypothetical 10% increase in the daily price of natural gas, versus the First of
Month Index (FOM), could result in a $4.1 million pre-tax decrease in MPS
Merchant non-operating income for the remainder of 2009.
  MPS
Merchant is also exposed to credit risk.  Credit risk is measured by
the loss that would be recorded if counterparties failed to perform pursuant to
the terms of the contractual obligations less the value of any collateral
held.  The following table provides information on MPS Merchant’s
credit exposure to customers at June 30, 2009.
 ExposureBefore
      Credit
                                                                                                      Credit
                                                                                                      NetRating
                                                                                                      Collateral
                                                                                                      Collateral
                                                                                                      ExposureExternal
      rating
                                                                                                      (millions)Investment
      grade
                                                                                                      $
                                                                                                      0.8
                                                                                                      
                                                                                                      $
                                                                                                      -
                                                                                                      
                                                                                                      $
                                                                                                      0.8Non-investment
      grade
                                                                                                      
                                                                                                      -
                                                                                                      
                                                                                                      
                                                                                                      -
                                                                                                      
                                                                                                      
                                                                                                      -No
      external rating
                                                                                                      
                                                                                                      26.3
                                                                                                      
                                                                                                      
                                                                                                      2.0
                                                                                                      
                                                                                                      
                                                                                                      24.3Total
                                                                                                      $
                                                                                                      27.1
                                                                                                      
                                                                                                      $
                                                                                                      2.0
                                                                                                      
                                                                                                      $
                                                                                                      25.1
 External
ratings are determined by using publicly available credit ratings of the
counterparty.  If a counterparty has provided a guarantee by a higher
rated entity, the determination has been based on the rating of its
guarantor.  Investment grade counterparties are those with a minimum
senior unsecured debt rating of BBB- from Standard & Poor’s or Baa3 from
Moody’s Investors Service.
 79
 ITEM
4.  CONTROLS AND PROCEDURES
  GREAT
PLAINS ENERGY
 
 Disclosure
Controls and Procedures
 Great
Plains Energy carried out evaluations of its disclosure controls and procedures
(as defined in Rules 13a-15(e) or 15d-15(e) under the Securities Exchange Act of
1934, as amended).  These evaluations were conducted under the
supervision, and with the participation, of Great Plains Energy’s management,
including the chief executive officer and chief financial officer, and Great
Plains Energy’s disclosure committee.  Based upon these evaluations,
the chief executive officer and chief financial officer of Great Plains Energy
have concluded as of the end of the period covered by this report that the
disclosure controls and procedures of Great Plains Energy were effective at a
reasonable assurance level.
  Changes
in Internal Control Over Financial Reporting
 There has
been no change in Great Plains Energy’s internal control over financial
reporting that occurred during the quarterly period ended June 30, 2009, that
has materially affected, or is reasonably likely to materially affect, its
internal control over financial reporting.
  KCP&L
  Disclosure
Controls and Procedures
 KCP&L
carried out evaluations of its disclosure controls and procedures (as defined in
Rules 13a-15(e) or 15d-15(e) under the Securities Exchange Act of 1934, as
amended).  These evaluations were conducted under the supervision, and
with the participation, of KCP&L’s management, including the chief executive
officer and chief financial officer, and KCP&L’s disclosure
committee.  Based upon these evaluations, the chief executive officer
and chief financial officer of KCP&L have concluded as of the end of the
period covered by this report that the disclosure controls and procedures of
KCP&L were effective at a reasonable assurance level.
  Changes
in Internal Control Over Financial Reporting
 There has
been no change in KCP&L’s internal control over financial reporting that
occurred during the quarterly period ended June 30, 2009, that has materially
affected, or is reasonably likely to materially affect, its internal control
over financial reporting.
  PART
II –OTHER
INFORMATION
  ITEM
1.  LEGAL PROCEEDINGS
  Other
Proceedings
 The
companies are parties to various lawsuits and regulatory proceedings in the
ordinary course of their respective businesses.  For information
regarding material lawsuits and proceedings, see Notes 2, 7, 13, 14 and 18 to
the consolidated financial statements.  Such descriptions are
incorporated herein by reference.
  ITEM
1A.  RISK FACTORS
  Actual
results in future periods for Great Plains Energy and KCP&L could differ
materially from historical results and the forward looking statements contained
in this report.  The business of Great Plains Energy and KCP&L is
influenced by many factors that are difficult to predict, involve uncertainties
that may materially affect actual results and are often beyond their
control.  Factors that might cause or contribute to such differences
include, but are not limited to, those discussed in Item 1A. Risk Factors
included in the 2008 Form 10-K for each of Great Plains Energy and
KCP&L.  There have been no material changes with regard to those
risk factors.  Those risk factors, as well as the information included
in this report and in the other documents filed with the SEC, should be
carefully considered before making an investment in the securities of Great
Plains Energy or KCP&L.  Risk factors of KCP&L are also risk
factors of Great Plains Energy.
 80
 ITEM
2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF
PROCEEDS
  None.
  ITEM
3.  DEFAULTS UPON SENIOR SECURITIES
  None.
  ITEM
4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
  Great
Plains Energy’s annual meeting of shareholders was held on May 5,
2009.  The shareholders elected nine directors, and ratified the
appointment of Deloitte & Touche LLP as independent registered public
accountants for 2009, and approved an amendment to the articles of incorporation
increasing the number of authorized shares of common stock from 150 million to
250 million.
  The nine
persons named below were elected, as proposed in the proxy statement, to serve
as directors until Great Plains Energy’s annual meeting in 2010 and until their
successors are elected and qualified.  The voting regarding the
election was as follows:
 
 Nominee
                                                                              
                                                                              Votes For
                                                                              
                                                                              Votes WithheldDavid
      L. Bodde
                                                                              
                                                                              97,958,741
                                                                              
                                                                              5,464,778Michael
      J. Chesser
                                                                              
                                                                              96,837,132
                                                                              
                                                                              6,586,387William
      H. Downey
                                                                              
                                                                              97,401,747
                                                                              
                                                                              6,021,772Randall
      C. Ferguson, Jr.
                                                                              
                                                                              78,462,473
                                                                              
                                                                              24,961,047Gary
      D. Forsee
                                                                              
                                                                              77,601,125
                                                                              
                                                                              25,822,394James
      A. Mitchell
                                                                              
                                                                              97,966,189
                                                                              
                                                                              5,457,330William
      C. Nelson
                                                                              
                                                                              97,870,301
                                                                              
                                                                              5,553,218Linda
      H. Talbot
                                                                              
                                                                              93,831,612
                                                                              
                                                                              9,591,907Robert
      H. West
                                                                              
                                                                              93,905,077
                                                                              
                                                                              9,518,443
 
 No votes
were cast against the nominees due to cumulative voting.
 
 Great
Plains Energy shareholders ratified the appointment of Deloitte & Touche LLP
as independent registered public accountants for 2009.  The voting
regarding the appointment was as follows:
  Votes For
                                                                    
                                                                    Votes Against
                                                                    
                                                                    Abstentions101,237,436
                                                                    
                                                                    1,642,870
                                                                    
                                                                    543,210
 
 Great Plains Energy shareholders
approved an amendment to the articles of incorporation increasing the number of
authorized shares of common stock from 150 million to 250
million.  The voting regarding the amendment was as
follows:
  Votes For
                                                                    
                                                                    Votes Against
                                                                    
                                                                    Abstentions87,341,755
                                                                    
                                                                    14,964,461
                                                                    
                                                                    1,117,301
 81
 KCP&L
 Great
Plains Energy is KCP&L’s sole shareholder.  By a unanimous written
consent in lieu of an annual shareholders meeting dated as of May 5, 2009, Great
Plains Energy, as the sole shareholder, elected the following directors of Great
Plains Energy as the directors of KCP&L for the ensuing year and until their
successors are duly elected and qualified, or until their
resignations:  David L. Bodde; Michael J. Chesser; William H. Downey;
Randall C. Ferguson, Jr.; Gary D. Forsee; James A. Mitchell; William C. Nelson
and Linda H. Talbot.
 
 ITEM
5.  OTHER INFORMATION
  None.
  ITEM
6.  EXHIBITS
  Great
Plains Energy Documents
  Exhibit
                                                                    Number
                                                                  
                                                                  Description of Document3.1.1
                                                                  *
                                                                  Articles
      of Incorporation of Great Plains Energy Incorporated, as amended effective
      May 7, 2009 (Exhibit 3.1.1 to Form 10-Q for the quarter ended March 31,
      2009).4.1
                                                                  *
                                                                  Subordinated
      Indenture dated as of May 18, 2009 between Great Plains Energy
      Incorporated and The Bank of New York Mellon Trust Company, N.A., as
      trustee (Exhibit 4.1 to Form 8-K filed May 19, 2009).4.2
                                                                  *
                                                                  Supplemental
      Indenture No. 1 dated as of May 18, 2009 between Great Plains Energy
      Incorporated and The Bank of New York Mellon Trust Company, N.A., as
      trustee (Exhibit 4.2 to Form 8-K filed May 19, 2009).4.3
                                                                  *
                                                                  Purchase
      Contract and Pledge Agreement dated as of May 18, 2009 among Great Plains
      Energy Incorporated, The Bank of New York Mellon Trust Company, N.A., as
      purchase contract agent and The Bank of New York Mellon Trust Company,
      N.A., as collateral agent, custodial agent and securities intermediary
      (Exhibit 4.3 to Form 8-K filed May 19, 2009).10.1.1
                                                                  *
                                                                  Amendment
      to Financing Agreement dated April 16, 2009, by and among KCP&L
      Greater Missouri Operations Company, the lenders from time to time party
      thereto, and Union Bank, N.A., as agent (Exhibit 10.5 to Form 8-K filed
      April 22, 2009).10.1.2
                                                                  +*
                                                                  Amendment
      to Performance Share Agreement dated May 5, 2009, between Great Plains
      Energy Incorporated and grantee, amending Performance Share Agreement
      dated February 6, 2007 (Exhibit 10.1.2 to Form 10-Q for the quarter ended
      March 31, 2009).10.1.3
                                                                  +*
                                                                  Amendment
      to Performance Share Agreement dated May 5, 2009, between Great Plains
      Energy Incorporated and grantee, amending Performance Share Agreement
      dated May 6, 2008 (Exhibit 10.1.3 to Form 10-Q for the quarter ended March
      31, 2009).10.1.4
                                                                  +*
                                                                  Performance
      Share Agreement between Great Plains Energy Incorporated and grantee dated
      May 5, 2009 (Exhibit 10.1.4 to Form 10-Q for the quarter ended March 31,
      2009).10.1.5
                                                                  +*
                                                                  Restricted
      Stock Agreement between Great Plains Energy Incorporated and grantee dated
      May 5, 2009 (Exhibit 10.1.5 to Form 10-Q for the quarter ended March 31,
      2009).10.1.6
                                                                  +*
                                                                  Great
      Plains Energy Incorporated Long-Term Incentive Plan Awards Standards and
      Performance Criteria effective as of January 1, 2009 (Exhibit 10.1.6 to
      Form 10-Q for the quarter ended March 31,
2009). 82
 10.1.7
                                                                +*
                                                                Great
      Plains Energy Incorporated and Kansas City Power & Light Company
      Annual Incentive Plan Awards Standards and Performance Criteria amended
      effective as of January 1, 2009 (Exhibit 10.1.7 to Form 10-Q for the
      quarter ended March 31, 2009).10.1.8
                                                                *
                                                                Non-Unanimous
      Stipulation and Agreement dated May 22, 2009 among KCP&L Greater
      Missouri Operations Company, the Staff of the Missouri Public Service
      Commission, the Office of the Public Counsel, Missouri Department of
      Natural Resources and Dogwood Energy, LLC. (Exhibit 10.1 to Form 8-K filed
      May 27, 2009).10.1.9
                                                                *
                                                                Fourth
      Amendment to Credit Agreement dated as of June 11, 2009 among Great Plains
      Energy Incorporated, the Lenders party thereto and Bank of America, N.A.,
      as Administrative Agent (Exhibit 10.6 to Form 8-K filed June 16,
      2009)10.1.10
                                                                +
                                                                Bonus
      Agreement dated as of May 5, 2009 between Great Plains Energy Incorporated
      and Michael J. Chesser.10.1.11
                                                                +
                                                                Discretionary
      Bonus Agreement dated as of May 5, 2009 between Great Plains Energy
      Incorporated and Terry Bassham.12.1
                                                                
                                                                Computation
      of Ratio of Earnings to Fixed Charges.31.1.a
                                                                
                                                                Rule
      13a-14(a)/15d-14(a) Certifications of Michael J.
  Chesser.31.1.b
                                                                
                                                                Rule
      13a-14(a)/15d-14(a) Certifications of Terry Bassham.32.1
                                                                
                                                                Section
      1350 Certifications.
  *Filed
with the SEC as exhibits to prior SEC filings and are incorporated herein by
reference and made a part hereof.  The SEC filing and the exhibit
number of the documents so filed, and incorporated herein by reference, are
stated in parenthesis in the description of such exhibit.
  +
Indicates management contract or compensatory plan or arrangement.
  Copies of
any of the exhibits filed with the SEC in connection with this document may be
obtained from Great Plains Energy upon written request.
  Great
Plains Energy agrees to furnish to the SEC upon request any instrument with
respect to long-term debt as to which the total amount of securities authorized
does not exceed 10% of total assets of Great Plains Energy and its subsidiaries
on a consolidated basis.
 83
 KCP&L
Documents
  Exhibit
                                                                    Number
                                                                  
                                                                  Description of Document10.2.1
                                                                  *
                                                                  Stipulation
      and Agreement dated April 24, 2009, among Kansas City Power & Light
      Company, Staff of the Missouri Public Service Commission, Office of Public
      Counsel, Praxair, Inc., Midwest Energy Users Association, U.S. Department
      of Energy and the U.S. Nuclear Security Administration, Ford Motor
      Company, Missouri Industrial Energy Consumers and Missouri Department of
      Natural Resources (Exhibit 10.1 to Form 8-K filed April 30,
      2009.)10.2.2
                                                                  *
                                                                  Joint
      Stipulation and Agreement dated June 17, 2009 among Kansas City Power
      & Light Company, the Staff of the Kansas Corporation Commission, the
      Citizens’ Utility Ratepayer Board and Kansas Electric Power Cooperative,
      Inc. (Exhibit 10.1 to Form 8-K filed June 18, 2009).10.2.3
                                                                  *+
                                                                  Great
      Plains Energy Incorporated and Kansas City Power & Light Company
      Annual Incentive Plan Awards Standards and Performance Criteria amended
      effective as of January 1, 2009, approved May 5, 2009 (Exhibit 10.1.7 to
      Form 10-Q for the quarter ended March 31, 2009).10.2.4
                                                                  *
                                                                  Amendment
      dated as of July 9, 2009 to Receivables Sale Agreement dated as of July 1,
      2005 among Kansas City Power & Light Receivables Company, Kansas City
      Power & Light Company, The Bank of Tokyo-Mitsubishi UFJ, Ltd., New
      York Branch and Victory Receivables Corporation (Exhibit 10.4 to Form 8-K
      filed July 13, 2009).12.2
                                                                  
                                                                  Computation
      of Ratio of Earnings to Fixed Charges.31.2.a
                                                                  
                                                                  Rule
      13a-14(a)/15d-14(a) Certifications of Michael J.
  Chesser.31.2.b
                                                                  
                                                                  Rule
      13a-14(a)/15d-14(a) Certifications of Terry Bassham.32.2
                                                                  
                                                                  Section
      1350 Certifications.
  *Filed with the SEC as
exhibits to prior SEC filings and are incorporated herein by reference and made
a part hereof.  The SEC filings and the exhibit number of the
documents so filed, and incorporated herein by reference, are stated in
parenthesis in the description of such exhibit.
  +
Indicates management contract or compensatory plan or arrangement.
  Copies of
any of the exhibits filed with the SEC in connection with this document may be
obtained from KCP&L upon written request.
  KCP&L
agrees to furnish to the SEC upon request any instrument with respect to
long-term debt as to which the total amount of securities authorized does not
exceed 10% of total assets of KCP&L and its subsidiaries on a consolidated
basis.
 84
 SIGNATURES
  Pursuant
to the requirements of the Securities Exchange Act of 1934, Great Plains Energy
Incorporated and Kansas City Power & Light Company have duly caused
this report to be signed on its behalf by the undersigned thereunto duly
authorized.
  GREAT
      PLAINS ENERGY INCORPORATEDDated:  August
      5, 2009
                                                                      By:  /s/Michael J.
      Chesser(Michael
      J. Chesser)(Chief
      Executive Officer)Dated:  August
      5, 2009
                                                                      By:  /s/Lori A.
      Wright(Lori
      A. Wright)(Principal
      Accounting
Officer)
 
 
  KANSAS
      CITY POWER & LIGHT COMPANYDated:  August
      5, 2009
                                                                      By:  /s/ Michael J.
      Chesser(Michael
      J. Chesser)(Chief
      Executive Officer)Dated:  August
      5, 2009
                                                                      By:  /s/Lori A.
      Wright(Lori
      A. Wright)(Principal
      Accounting
Officer)
  
   85