Form 10-Q
                  SECURITIES AND EXCHANGE COMMISSION
                        WASHINGTON, D.C.  20549
                     ____________________________

         [X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                OF THE SECURITIES EXCHANGE ACT OF 1934

             For the quarterly period ended June 30, 2000

                                  OR

        [  ]  TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d)
                OF THE SECURITIES EXCHANGE ACT OF 1934

             For the transition period from ____  to ____

                     Commission file number 1-707

                   KANSAS CITY POWER & LIGHT COMPANY
        (Exact name of registrant as specified in its charter)


            Missouri                              44-0308720
 (State or other jurisdiction of               (I.R.S. Employer
 incorporation or organization)              Identification No.)


            1201 Walnut, Kansas City, Missouri   64106-2124
         (Address of principal executive offices)   (Zip Code)

  Registrant's telephone number, including area code: (816) 556-2200


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
Exchange  Act  of  1934 during the preceding 12 months  (or  for  such
shorter period that the registrant was required to file such reports),
and  (2) has been subject to such filing requirements for the past  90
days.

Yes  (X)  No ( )

The number of shares outstanding of the registrant's Common stock at
August 3, 2000, was  61,846,020  shares.

<PAGE>

PART I - FINANCIAL INFORMATION
Item 1. Consolidated Financial Statements

KANSAS CITY POWER & LIGHT COMPANY
Consolidated Balance Sheets

                                                       June 30     December 31
                                                        2000          1999
                                                            (thousands)
ASSETS
Utility Plant, at Original Cost
 Electric                                             $3,687,613    $3,628,120
 Less-accumulated depreciation                         1,609,010     1,516,255
    Net utility plant in service                       2,078,603     2,111,865
 Construction work in progress                           300,525       158,616
 Nuclear fuel, net of amortization of
  $116,717 and $108,077                                   36,961        28,414
    Total                                              2,416,089     2,298,895
Regulatory Asset - Recoverable Taxes                     106,000       106,000
Investments and Nonutility Property                      384,815       376,704

Current Assets
 Cash and cash equivalents                                11,196        13,073
 Receivables                                              95,080        71,548
 Fuel inventories, at average cost                        23,499        22,589
 Materials and supplies, at average cost                  46,808        46,289
 Deferred income taxes                                     4,815         2,751
 Other                                                    16,505         6,086
    Total                                                197,903       162,336
Deferred Charges
 Regulatory assets                                        28,271        31,908
 Prepaid pension costs                                    58,739             0
 Other deferred charges                                   27,974        14,299
    Total                                                114,984        46,207
    Total                                             $3,219,791    $2,990,142

CAPITALIZATION AND LIABILITIES
Capitalization (see statements)                       $2,017,197    $1,739,590
Current Liabilities
 Notes payable to banks                                        0        24,667
 Commercial paper                                        159,360       214,032
 Current maturities of long-term debt                     73,957       128,858
 Accounts payable                                        113,992        68,309
 Accrued taxes                                            18,933           972
 Accrued interest                                         11,307        15,418
 Accrued payroll and vacations                            20,744        20,102
 Accrued refueling outage costs                           12,348         7,056
 Other                                                    16,034        13,569
     Total                                               426,675       492,983
Deferred Credits and Other Liabilities
 Deferred income taxes                                   611,373       592,227
 Deferred investment tax credits                          52,098        54,333
 Other                                                   112,448       111,009
    Total                                                775,919       757,569

Commitments and Contingencies (Note 6)
   Total                                              $3,219,791    $2,990,142

The accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.

                                       1
<PAGE>

KANSAS CITY POWER & LIGHT COMPANY
Consolidated Statements of Capitalization

                                                       June 30     December 31
                                                        2000          1999
                                                            (thousands)
Common Stock Equity
 Common stock-150,000,000 shares authorized
   without par value 61,908,726 shares issued,
   stated value                                         $449,697      $449,697
 Retained earnings (see statements)                      424,163       418,952
 Accumulated other comprehensive loss
   Unrealized loss on securities available
     for sale                                                  0        (2,337)
 Capital stock premium and expense                        (1,668)       (1,668)
          Total                                          872,192       864,644
Cumulative Preferred Stock
 $100 Par Value
   3.80% - 100,000 shares issued                          10,000        10,000
   4.50% - 100,000 shares issued                          10,000        10,000
   4.20% -  70,000 shares issued                           7,000         7,000
   4.35% - 120,000 shares issued                          12,000        12,000
 $100 Par Value - Redeemable
   4.00%                                                      62            62
          Total                                           39,062        39,062
Company-obligated Mandatorily Redeemable Preferred
Securities of a trust holding solely KCPL
Subordinated Debentures                                  150,000       150,000

Long-term Debt (excluding current maturities)
 General Mortgage Bonds
    Medium-Term Notes due 2001-2008, 7.10% and
       6.99% weighted-average rate                       236,000       286,000
    5.02%* Environmental Improvement Revenue
       Refunding Bonds due 2012-23                       158,768       158,768
 Unsecured Medium-Term Notes
    6.91%* due 2002                                      200,000             0
 Environmental Improvement Revenue Refunding Bonds
    5.08%* Series A & B due 2015                         106,500       106,500
    4.50% Series C due 2017                               50,000        50,000
    4.35% Series D due 2017                               40,000        40,000
 Subsidiary Obligations
    Affordable Housing Notes due 2001-08, 8.28%
       and 8.35% weighted-average rate                    31,675        44,616
    KLT Gas Bank Credit Agreement
       9.43%* due 2003                                    51,000             0
    KLT Inc Bank Credit Agreement
       7.85%* due 2003                                    82,000             0
          Total                                          955,943       685,884
          Total                                       $2,017,197    $1,739,590
*   Variable rate securities, weighted-average rate as of June 30, 2000.
The accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.

                                       2
<PAGE>

KANSAS CITY POWER & LIGHT COMPANY
Consolidated Statements of Income



Three Months Ended June 30                     2000          1999
                                                   (thousands)
Electric Operating Revenues                  $228,026     $216,947

Operating Expenses
 Operation
   Fuel                                        35,332        24,373
   Purchased power                             20,825        18,656
   Other                                       48,598        49,139
 Maintenance                                   18,456        13,449
 Depreciation                                  30,883        29,838
 Income taxes                                  14,696        18,438
 General taxes                                 21,999        22,091
    Total                                     190,789       175,984

Electric Operating Income                      37,237        40,963

Other Income and (Deductions)
 Allowance for equity funds
  used during construction                      1,914           623
 Miscellaneous income and
  (deductions) - net                           (2,706)      (11,758)
 Income taxes                                   9,311        12,431
    Total                                       8,519         1,296

Income Before Interest Charges                 45,756        42,259

Interest Charges
 Long-term debt                                16,292        12,924
 Short-term debt                                1,557         1,069
 Mandatorily redeemable Preferred
  Securities                                    3,112         3,112
 Miscellaneous                                    676           691
 Allowance for borrowed funds
  used during construction                     (2,621)         (675)
    Total                                      19,016        17,121

 Income before cumulative effect of
    changes in accounting principles           26,740        25,138
 Cumulative effect to January 1, 2000,
    of changes in accounting principles,
    net of income taxes (Note 1)                    0             0
 Net Income                                    26,740        25,138
 Preferred Stock
  Dividend Requirements                           412           944
 Earnings Available for
  Common Stock                                $26,328       $24,194

Average Number of Common
 Shares Outstanding                            61,864        61,898
Basic and diluted earnings per common
 share before cumulative effect of              $0.43         $0.39
 changes in accounting principles
Cumulative effect to January 1, 2000,
 of changes in accounting principles                0             0
Basic and Diluted Earnings
 per Common Share                               $0.43         $0.39
Cash Dividends per
 Common Share                                  $0.415        $0.415

The accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.

                                       3
<PAGE>

KANSAS CITY POWER & LIGHT COMPANY
Consolidated Statements of Income



Year to Date June 30                           2000          1999
                                                  (thousands)
Electric Operating Revenues                  $418,359      $407,681

Operating Expenses
 Operation
   Fuel                                        65,185        55,411
   Purchased power                             35,623        29,314
   Other                                       99,184        94,221
 Maintenance                                   38,517        30,790
 Depreciation                                  60,166        59,497
 Income taxes                                  19,259        27,648
 General taxes                                 43,213        43,902
    Total                                     361,147       340,783

Electric Operating Income                      57,212        66,898

Other Income and (Deductions)
 Allowance for equity funds
  used during construction                      1,950         1,686
 Miscellaneous income and
  (deductions) - net                          (18,862)      (22,298)
 Income taxes                                  23,383        24,674
    Total                                       6,471         4,062

Income Before Interest Charges                 63,683        70,960

Interest Charges
 Long-term debt                                28,739        26,255
 Short-term debt                                5,224         1,138
 Mandatorily redeemable Preferred
  Securities                                    6,225         6,225
 Miscellaneous                                  1,300         1,728
 Allowance for borrowed funds
  used during construction                     (5,120)       (1,407)
    Total                                      36,368        33,939
 Income before cumulative effect of
    changes in accounting principles           27,315        37,021
 Cumulative effect to January 1, 2000,
    of changes in accounting principles,
    net of income taxes (Note 1)               30,073             0
 Net Income                                    57,388        37,021
 Preferred Stock
  Dividend Requirements                           824         1,891
 Earnings Available for
  Common Stock                                $56,564       $35,130

Average Number of Common
 Shares Outstanding                            61,881        61,898
Basic and diluted earnings per common
 share before cumulative effect of
 changes in accounting principles               $0.42         $0.57
Cumulative effect to January 1, 2000,
 of changes in accounting principles             0.49             0
Basic and Diluted Earnings
 per Common Share                               $0.91         $0.57
Cash Dividends per
 Common Share                                   $0.83         $0.83

The accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.

                                       4
<PAGE>

KANSAS CITY POWER & LIGHT COMPANY
Consolidated Statements of Income



Twelve Months Ended June 30                    2000          1999
                                                  (thousands)
Electric Operating Revenues                 $908,071      $911,485

Operating Expenses
 Operation
   Fuel                                      139,029       127,175
   Purchased power                           101,006        69,888
   Other                                     201,889       189,523
 Maintenance                                  70,316        69,543
 Depreciation                                119,097       117,568
 Income taxes                                 50,159        74,634
 General taxes                                92,312        93,287
    Total                                    773,808       741,618

Electic Operating Income                     134,263       169,867

Other Income and (Deductions)
 Allowance for equity funds
  used during construction                     2,921         3,679
 Miscellaneous income and
  (deductions) - net                         (48,289)      (49,966)
 Income taxes                                 54,077        50,292
    Total                                      8,709         4,005

Income Before Interest Charges               142,972       173,872

Interest Charges
 Long-term debt                               53,811        53,897
 Short-term debt                               8,448         1,266
 Mandatorily redeemable Preferred
  Securities                                  12,450        12,450
 Miscellaneous                                 3,145         4,078
 Allowance for borrowed funds
  used during construction                    (7,091)       (2,640)
    Total                                     70,763        69,051

Income before cumulative effect of
   changes in accounting principles           72,209       104,821
Cumulative effect to January 1, 2000,
   of changes in accounting principles,
   net of income taxes (Note 1)               30,073             0
Net Income                                   102,282       104,821
Preferred Stock
  Dividend Requirements                        2,666         3,818
Earnings Available for
  Common Stock                               $99,616      $101,003

Average Number of Common
 Shares Outstanding                           61,890        61,896
Basic and diluted earnings per common
 share before cumulative effect of
 changes in accounting principles              $1.12         $1.63
Cumulative effect to January 1, 2000,
 of changes in accounting principles            0.49             0
Basic and Diluted Earnings
 per Common Share                              $1.61         $1.63
Cash Dividends per
 Common Share                                  $1.66         $1.66

The accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.

                                       5
<PAGE>

KANSAS CITY POWER & LIGHT COMPANY
Consolidated Statements of Cash Flows



Year to Date June 30                               2000        1999
                                                      (thousands)

Cash Flows from Operating Activities
 Income before cumulative effect of changes in
   accounting principles                           $27,315     $37,021
 Adjustments to reconcile income to net
  cash from operating activities:
 Depreciation of electric plant                     60,166      59,497
 Amortization of:
  Nuclear fuel                                       8,640       7,129
  Other                                              5,731       6,035
 Deferred income taxes (net)                        (3,467)    (16,479)
 Investment tax credit amortization                 (2,235)     (2,218)
 Fuel contract settlements                               0     (13,391)
 Losses from equity investments                     16,240       8,918
 Asset impairments                                   6,750       1,773
 Kansas rate refund accrual                              0     (14,200)
 Missouri rate refund accrual                            0       4,989
 Allowance for equity funds used
   during construction                              (1,950)     (1,686)
 Other operating activities (Note 2)                26,795     (27,858)

       Net cash from operating activities          143,985      49,530

Cash Flows from Investing Activities
 Utility capital expenditures                     (230,236)    (58,811)
 Allowance for borrowed funds used
   during construction                              (5,120)     (1,407)
 Purchases of investments                          (40,850)    (17,744)
 Purchases of nonutility property                  (13,485)    (18,473)
 Hawthorn No. 5 partial insurance recovery          50,000
 Other investing activities                         13,113      (2,481)

        Net cash from investing activities         (226,578)    (98,916)

Cash Flows from Financing Activities
 Issuance of long-term debt                        272,000      10,889
 Repayment of long-term debt                       (57,000)    (35,938)
 Net change in short-term borrowings               (79,339)     99,648
 Dividends paid                                    (52,177)    (53,271)
 Other financing activities                         (2,768)       (783)

        Net cash from financing activities           80,716      20,545

Net Change in Cash and Cash Equivalents             (1,877)    (28,841)
Cash and Cash Equivalents at Beginning of Year      13,073      43,213
Cash and Cash Equivalents at End of Period         $11,196     $14,372

Cash Paid During the Period for:
Interest (net of amount capitalized)               $39,503     $44,365
Income taxes                                          $109     $17,870

The accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.

                                       6
<PAGE>

KANSAS CITY POWER & LIGHT COMPANY
Consolidated Statements of Cash Flows



Twelve Months Ended June 30                        2000        1999
                                                      (thousands)

Cash Flows from Operating Activities
 Income before cumulative effect of changes in
   accounting principles                           $72,209    $104,821
 Adjustments to reconcile income to net
  cash from operating activities:
 Depreciation of electric plant                    119,097     117,568
 Amortization of:
  Nuclear fuel                                      17,293      16,776
  Other                                             11,959      10,565
 Deferred income taxes (net)                       (13,772)    (25,272)
 Investment tax credit amortization                 (4,470)     (4,408)
 Fuel contract settlements                               0     (13,391)
 Losses from equity investments                     32,273      18,705
 Asset impairments                                  26,055       7,801
 Gain on sale of Nationwide Electric, Inc.
  stock                                            (19,835)          0
 Kansas rate refund accrual                              0      (6,640)
 Missouri rate refund accrual                       (4,989)      4,989
 Allowance for equity funds used
   during construction                              (2,921)     (3,679)
 Other operating activities (Note 2)                21,665     (16,267)

        Net cash from operating activities          254,564     211,568

Cash Flows from Investing Activities
 Utility capital expenditures                     (352,112)   (129,942)
 Allowance for borrowed funds used
   during construction                              (7,091)     (2,640)
 Purchases of investments                          (58,178)    (41,647)
 Purchases of nonutility property                  (50,804)    (34,217)
 Sale of KLT Power                                       0      53,033
 Sale of Nationwide Electric, Inc. stock            39,617           0
 Hawthorn No. 5 partial insurance recovery         130,000           0
 Other investing activities                          5,278      (3,363)

       Net cash from investing activities         (293,290)   (158,776)

Cash Flows from Financing Activities
 Issuance of long-term debt                        272,000       8,890
 Repayment of long-term debt                      (130,122)    (75,393)
 Net change in short-term borrowings                49,712     106,198
 Dividends paid                                   (105,568)   (106,588)
 Redemption of preferred stock                     (50,000)          0
 Other financing activities                           (472)     (1,485)

        Net cash from financing activities          35,550     (68,378)

Net Change in Cash and Cash Equivalents             (3,176)    (15,586)
Cash and Cash Equivalents at Beginning of Period    14,372      29,958
Cash and Cash Equivalents at End of Period         $11,196     $14,372
Cash Paid During the Period for:
Interest (net of amount capitalized)               $69,658     $75,908
Income taxes                                       $34,539     $42,658

The accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.

                                          7
<PAGE><TABLE>

KANSAS CITY POWER & LIGHT COMPANY
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME


                                             Three Months Ended             Year to Date             Twelve Months Ended
                                                  June 30                      June 30                     June 30
                                              2000         1999           2000         1999            2000         1999
<S>                                       <C>          <C>            <C>          <C>            <C>           <C>
                                                                             (thousands)
Net income                                $  26,740    $  25,138      $  57,388    $  37,021       $ 102,282   $ 104,821

Other comprehensive income (loss):
   Unrealized gain (loss) on
     securities available for sale                -        3,167              -        3,900          (7,678)       (669)

   Income tax benefit (expense)                   -       (1,144)             -       (1,409)          2,776         244

   Net unrealized gain (loss) on
     securities available for sale                -        2,023              -        2,491          (4,902)       (425)

   Reclassification adjustment,
     net of tax                                   -            -          2,337            -           2,337           -

Comprehensive Income                      $  26,740    $  27,161      $  59,725    $  39,512       $  99,717   $ 104,396

The accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.






CONSOLIDATED STATEMENTS OF RETAINED EARNINGS


                                             Three Months Ended            Year to Date             Twelve Months Ended
                                                  June 30                     June 30                     June 30
                                             2000         1999           2000         1999           2000         1999
                                                                             (thousands)
Beginning Balance                         $ 423,500    $ 428,948      $ 418,952    $ 443,699       $ 427,449   $ 429,216
Net Income                                   26,740       25,138         57,388       37,021         102,282     104,821
                                            450,240      454,086        476,340      480,720         529,731     534,037
Dividends Declared
  Preferred stock - at required rates           411          949            824        1,896           2,839       3,835
  Common stock                               25,666       25,688         51,353       51,375         102,729     102,753
Ending Balance                            $ 424,163    $ 427,449      $ 424,163    $ 427,449       $ 424,163   $ 427,449

The accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.

</TABLE>
                                       8
<PAGE)

KANSAS CITY POWER & LIGHT COMPANY

                  CERTAIN FORWARD-LOOKING INFORMATION

Statements made in this report which are not based on historical facts
are forward-looking and, accordingly, involve risks and uncertainties
that could cause actual results to differ materially from those
discussed.  Any forward-looking statements are intended to be as of
the date on which such statement is made.  In connection with the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995, we are providing a number of important factors that could cause
actual results to differ materially from provided forward-looking
information.  These important factors include:
- future economic conditions in the regional, national and
  international markets
- state, federal and foreign regulation
- weather conditions
- financial market conditions, including, but not limited to
  changes in interest rates
- inflation rates
- increased competition, including, but not limited to, the
  deregulation of the United States electric utility industry, and the
  entry of new competitors
- ability to carry out marketing and sales plans
- ability to achieve generation planning goals and the occurrence
  of unplanned generation outages
- nuclear operations
- ability to enter new markets successfully and capitalize on
  growth opportunities in nonregulated businesses
- adverse changes in applicable laws, regulations or rules
  governing environmental (including air quality regulations), tax or
  accounting matters
- delays in the anticipated in service dates of new generating
  capacity

This list of factors may not be all-inclusive since it is not possible
for us to predict all possible factors.

Notes to Consolidated Financial Statements

In management's opinion, the consolidated interim financial statements
reflect all adjustments (which include only normal recurring
adjustments) necessary to present fairly the results of operations for
the interim periods presented.  These statements and notes should be
read in connection with the financial statements and related notes
included in our 1999 annual report on Form 10-K.

1. CHANGES IN PENSION ACCOUNTING PRINCIPLES

Effective January 1, 2000, Kansas City Power & Light Company (KCPL)
changed its methods of amortizing unrecognized net gains and losses
and determination of expected return related to its accounting for
pension expense. This change is being made to reflect more timely in
pension expense the gains and losses incurred by the pension funds.

At the time KCPL originally adopted the standards governing accounting
for pensions, we chose the following accounting methods that would
minimize fluctuations in pension expense:
- Recognized gains and losses if, as of the beginning of the year,
  the unrecognized net gain or loss exceeds 10 percent of the greater of
  the projected benefit obligation or the market-related value of plan
  assets. If amortization is required, amortization is the excess
  divided by the average remaining service period, approximately 15
  years, of active employees expected to receive benefits under the
  plan.  This method has resulted in minimal gains being amortized.

                                       9
<PAGE>

- Determined the expected return by multiplying the long-term rate
  of return times the market-related value. We determine market-related
  value by recognizing changes in fair value of plan assets over a five-
  year period.

KCPL has changed the above accounting methods to the following:
- Recognize gains and losses by amortizing over a five-year period
  the rolling five-year average of unamortized gains and losses.
- Determine the expected return by multiplying the long-term rate
  of return times the fair value of plan assets.

Adoption of the new methods of accounting for pensions will lead to
greater fluctuations in pension expense in the future and will have
the following current effects:

                       Changes in Method of Accounting for Pensions *
                          Amortization of
                             Gains and    Expected                        Net
                              Losses       Return   Total  Reductions**  Total
                                     (millions except per share)

Cumulative effect of change
in method of accounting:
  Income                      $ 21.4      $ 13.6   $ 35.0    $  (4.9)   $ 30.1
  Basic and diluted earnings
  per common share            $ 0.35      $ 0.22   $ 0.57    $ (0.08)   $ 0.49
Year 2000 earnings effect
of change in method of
accounting:
  Income                      $  4.1      $  2.0   $  6.1    $  (1.1)   $  5.0
  Basic and diluted earnings
  per common share            $ 0.07      $ 0.03   $ 0.10    $ (0.02)   $ 0.08
Prior year's earnings effect
of change in method of
accounting if the change had
been made January 1, 1998:
  1999
  Income                      $  4.4      $  1.1   $  5.5    $  (1.0)   $  4.5
  Basic and diluted earnings
  per common share            $ 0.07      $ 0.02   $ 0.09    $ (0.02)   $ 0.07
  1998
  Income                      $  2.9      $  3.2   $  6.1    $  (1.1)   $  5.0
  Basic and diluted earnings
  per common                  $ 0.05      $ 0.05   $ 0.10    $ (0.02)   $ 0.08

* All changes are increases to income or earnings per common share and
are after income taxes.  The effect on quarterly earnings would be one-
fourth of the amounts reported except for the cumulative effect of
change in method of accounting which is a one time income increase.

** The Reductions column reflects amounts for the effects of
capitalized labor, net of depreciation, and power plants joint-owner
shares of pension costs.

                                       10
<PAGE>

2.  CONSOLIDATED STATEMENTS OF CASH FLOWS - OTHER OPERATING ACTIVITIES

                                 Year to Date     Twelve Months Ended
                                 2000     1999        2000     1999
Cash flows affected by changes in:          (thousands)
    Receivables              $ (23,532) $ (8,364) $(16,585)  $  2,362
    Fuel inventories              (910)   (3,776)     (974)    (4,778)
    Materials and supplies        (519)      181    (1,626)       560
    Accounts payable            45,683    (7,446)   59,674      9,753
    Accrued taxes               17,961    14,134   (10,826)    (7,733)
    Accrued interest            (4,111)   (9,805)   (2,268)    (5,465)
    Wolf Creek refueling
     outage accrual              5,292   (10,337)   10,370     (4,876)
Other                          (13,069)   (2,445)  (16,100)    (6,090)
       Total                 $  26,795  $(27,858) $ 21,665   $(16,267)

3.  SECURITIES AVAILABLE FOR SALE

In 2000, CellNet Data System Inc. (CellNet) completed a sale of its
assets to a third party.  Accordingly, in March 2000, KLT Inc. (KLT)
wrote-off its investment in CellNet of $4.8 million before taxes
($0.05 per share).  At December 31, 1999, $3.8 million before taxes
($0.04 per share) of this loss had been reported as an unrealized loss
in the Consolidated Statement of Comprehensive Income.

Prior to the write-off, the investment in CellNet had been accounted
for as securities available for sale and adjusted to market value,
with unrealized gains or (losses) reported as a separate component of
comprehensive income.

The cost of these securities available for sale that KLT held as of
June 30, 1999 was $4.8 million.  Accumulated net unrealized gains were
$2.6 million at June 30, 1999.

4.  CAPITALIZATION

KCPL Financing I (Trust) has previously issued $150,000,000 of 8.3%
preferred securities.  The sole asset of the Trust is the $154,640,000
principal amount of 8.3% Junior Subordinated Deferrable Interest
Debentures, due 2037, issued by KCPL.

In the first quarter of 2000, KCPL issued $200 million of unsecured,
floating rate medium-term notes.  As of June 30, 2000, $100 million of
unsecured medium-term notes remained available for issuance under an
indenture dated December 1, 1996.

In 2000, KCPL entered into interest rate cap agreements to limit the
interest rate on the $200 million of unsecured medium-term notes.  The
cap agreements mature in 2002 and limit the interest rate on the $200
million of unsecured debt to a maximum of 7.65%.

In the second quarter of 2000, KLT renegotiated its existing $125
million bank credit agreement from short-term to a three-year
revolving credit agreement.  The new agreement had a weighted-average
rate of 7.85% at June 30, 2000.  At June 30, 2000, KLT had borrowed
$82 million under this agreement, which has been included in long-term
debt in the Consolidated Statements of Capitalization.  At December
31, 1999, KLT had borrowed $61 million under its previous bank credit
agreement, which was included in current maturities of long-term debt
in the Consolidated Balance Sheet.

                                       11
<PAGE>

5. SEGMENT AND RELATED INFORMATION

KCPL's three reportable segments are strategic business units.
Electric Operations includes the regulated electric utility,
unallocated corporate charges and wholly-owned subsidiaries on an
equity basis.  KLT and HSS are holding companies for various
nonregulated business ventures.

The summary of significant accounting policies applies to all of the
segments.  We evaluate performance based on profit or loss from
operations and return on capital investment.  We eliminate all
intersegment sales and transfers.  We include KLT and Home Service
Solutions Inc. (HSS) revenues and expenses in Other Income and
(Deductions) and Interest Charges in the Consolidated Statements of
Income.

The tables below reflect summarized financial information concerning
KCPL's reportable segments.

                           Electric                  Intersegment Consolidated
                          Operations  KLT      HSS   Eliminations    Totals
Three Months Ended                         (thousands)
  June 30, 2000
Electric Operating
 Income (a)              $ 37,237                                   $ 37,237
Miscellaneous
 income (b)                15,737   $ 52,907  $ (141)  $ (2,748)      65,755
Miscellaneous
 deductions (c)           (12,982)   (53,973) (1,656)        150     (68,461)
Income taxes on Other
 Income and (Deductions)       53      8,557     701           -       9,311
Interest Charges          (15,219)    (3,797)      -           -     (19,016)
Net income(loss)           26,740      3,694  (1,096)     (2,598)     26,740

Three Months Ended
  June 30, 1999
Electric Operating
 Income (a)              $ 40,963                                   $ 40,963
Miscellaneous
 income (b)                 4,212   $ (1,436) $  491   $   1,012       4,279
Miscellaneous
 deductions (c)            (7,068)    (8,165)   (804)          -     (16,037)
Income taxes on Other
 Income and (Deductions)      442     11,914      75           -      12,431
Interest Charges          (14,034)    (3,087)      -           -     (17,121)
Net income(loss)           25,138       (774)   (238)      1,012      25,138

Six Months Ended
  June 30, 2000
Electric Operating
 Income (a)              $ 57,212                                   $ 57,212
Miscellaneous
 income (b)                20,064   $ 57,099  $  219   $      95      77,477
Miscellaneous
 deductions (c)           (24,216)   (68,567) (3,853)        297     (96,339)
Income taxes on Other
 Income and (Deductions)    1,453     20,513   1,417           -      23,383
Interest Charges          (29,148)    (7,220)      -           -     (36,368)
Net income(loss)(d)        57,388      1,825  (2,217)        392      57,388

Six Months Ended
  June 30, 1999
Electric Operating
 Income (a)             $ 66,898                                   $ 66,898
Miscellaneous
 income (b)               10,002    $ (2,520) $  987   $     842      9,311
Miscellaneous
 deductions (c)          (14,956)    (15,190) (1,463)          -    (31,609)
Income taxes on Other
 Income and (Deductions)   1,211      23,343     120           -     24,674
Interest Charges         (27,820)     (6,119)      -           -    (33,939)
Net income(loss)          37,021        (486)   (356)        842     37,021

                                       12
<PAGE>

                           Electric                  Intersegment Consolidated
                          Operations  KLT      HSS   Eliminations    Totals
Twelve Months Ended                        (thousands)
  June 30, 2000
Electric Operating
 Income (a)            $ 134,263                                   $ 134,263
Miscellaneous
 income (b)               35,692    $ 76,792  $(1,123)  $  4,199     115,560
Miscellaneous
 deductions (c)          (51,275)   (105,163)  (7,708)       297    (163,849)
Income taxes on Other
 Income and (Deductions)   8,393      42,368    3,316          -      54,077
Interest Charges         (57,785)    (12,978)       -          -     (70,763)
Net income(loss)(d)      102,282       1,019   (5,515)     4,496     102,282

Twelve Months Ended
  June 30, 1999
Electric Operating
 Income (a)            $ 169,867                                   $ 169,867
Miscellaneous
 income (b)               19,964    $  3,604  $ 1,720   $  3,273      28,561
Miscellaneous
 deductions (c)          (36,562)    (39,569)  (2,396)         -     (78,527)
Income taxes on Other
 Income and (Deductions)   4,450      45,644      198          -      50,292
Interest Charges         (56,577)    (12,474)       -          -     (69,051)
Net income(loss)         104,821      (2,795)    (478)     3,273     104,821

(a)  Refer to the Consolidated Statements of Income for detail of
     Electric Operations revenues and expenses.
(b)  Includes nonregulated revenues, interest and dividend income,
     income and losses from equity investments and gains on sales of
     property.
(c)  Includes nonregulated expenses, losses on sales of property,
     asset impairments and merger-related expenses.
(d)  Includes $30.1 million cumulative effect to January 1, 2000, of
     changes in accounting principles, net of income taxes.


                                Identifiable Assets
                        June 30, 2000     December 31, 1999
                                   (thousands)
Electric Operations      $  3,037,921      $  2,851,469
KLT                           314,283           267,763
HSS                            45,673            50,043
Intersegment Eliminations    (178,086)         (179,133)

  Consolidated Totals    $  3,219,791      $  2,990,142

6.   COMMITMENTS AND CONTINGENCIES

Environmental Matters
KCPL's policy is to act in an environmentally responsible manner and
use the latest technology available to avoid and treat contamination.
We continually conduct environmental audits designed to ensure
compliance with governmental regulations and to detect contamination.
However, governmental bodies may impose additional or more rigid
environmental regulations that could require substantial changes to
operations or facilities.

     Monitoring Equipment and Certain Air Toxic Substances
     The Clean Air Act Amendments of 1990 required KCPL to spend about
     $5 million in prior years for the installation of continuous
     emission monitoring equipment to satisfy the requirements under
     the acid rain provision.  Also, a study under the Act could
     require

                                       13
<PAGE>

     regulation of certain air toxic substances, including
     mercury.  We cannot predict the likelihood of any such
     regulations or compliance costs.

     Air Particulate Matter
     In July 1997, the United States Environmental Protection Agency
     (EPA) published new air quality standards for particulate matter.
     Additional regulations implementing these new particulate
     standards have not been finalized.  Without the implementation
     regulations, the impact of the standards on KCPL cannot be
     determined.  However, the impact on KCPL and other utilities that
     use fossil fuels could be substantial.  Under the new fine
     particulate regulations the EPA is conducting a three-year study
     of fine particulate emissions.  Until this testing and review
     period has been completed, KCPL cannot determine additional
     compliance costs, if any, associated with the new particulate
     regulations.

     Nitrogen Oxide
     In 1997 the EPA also issued new proposed regulations on reducing
     nitrogen oxide (NOx) emissions.  The EPA announced in 1998 final
     regulations implementing reductions in NOx emissions.  These
     regulations initially called for 22 states, including Missouri,
     to submit plans for controlling NOx emissions.  The regulations
     require a significant reduction in NOx emissions from 1990 levels
     at KCPL's Missouri coal-fired plants by the year 2003.

     In December 1998, KCPL and several other western Missouri
     utilities filed suit against the EPA over the inclusion of
     western Missouri in the 1997 NOx reduction program.  On March 3,
     2000, a three-judge panel of the D.C. Circuit of the U.S. Court
     of Appeals sent the NOx rules related to Missouri back to the EPA
     stating the EPA failed to prove that fossil plants in the western
     part of Missouri contribute to ozone formation in downwind
     states.  The impact of this decision, which is likely to be
     appealed in whole or part, is unknown at this time, however, it
     is likely to delay the implementation of new NOx regulations by
     EPA in Missouri for some time.

     In May 1999, a three-judge panel of the D.C. Circuit of the U.S.
     Court of Appeals found certain portions of the NOx control
     program unconstitutional in a related case.  The U.S. Supreme
     Court has agreed to hear the appeal of this decision by the EPA.
     A final decision by the U.S. Supreme Court is expected in the
     spring of 2001, and the outcome cannot be predicted at this time.
     If the panel's decision is upheld, the effect will be to decrease
     the severity of the standards with which KCPL ultimately may need
     to comply.

     To achieve the reductions proposed in the 1997 NOx  reduction
     program, KCPL would need to incur significant capital costs,
     purchase power or purchase NOx emissions allowances.  It is
     possible that purchased power or emissions allowances may be too
     costly or unavailable.

     Preliminary analysis of the regulations indicate that selective
     catalytic reduction technology may be required for some of the
     KCPL units, as well as other changes.  Currently, we estimate
     that additional capital expenditures to comply with these
     regulations could range from $40 million to $60 million.
     Operations and maintenance expenses could also increase by more
     than $2.5 million per year.  These capital expenditure estimates
     do not include the costs of the new air quality control equipment
     to be installed at Hawthorn No. 5.  The new air control equipment
     designed to meet current environmental standards will also comply
     with the proposed requirements discussed above.

     We continue to refine our preliminary estimates and explore
     alternatives to comply with these new regulations in order to
     minimize, to the extent possible, KCPL's capital costs and
     operating expenses.  The ultimate cost of these regulations could
     be significantly different from the amounts estimated above.

                                       14
<PAGE>

     The State of Missouri is currently developing a State
     Implementation Plan (SIP) for NOx reduction in response to the
     EPA's effort to regulate NOx emissions.  As currently proposed,
     KCPL would not incur significant additional costs to comply with
     the State of Missouri SIP.  In May 2000, the Missouri Air
     Conservation Commission approved statewide NOx regulations
     requiring compliance with a rate of 0.35 lbs. NOx / mmBtu of heat
     input.  We do not anticipate that KCPL will incur significant
     additional costs to comply with these new regulations.

     Carbon Dioxide
     At a December 1997 meeting in Kyoto, Japan, the Clinton
     Administration supported changes to the International Global
     Climate Change treaty which would require a seven percent
     reduction in United States carbon dioxide (CO2) emissions below
     1990 levels. The Administration has not submitted this change to
     the U.S. Senate where ratification is uncertain.  If future
     reductions of electric utility CO2 emissions are eventually
     required, the financial impact upon KCPL could be substantial.

Low-Level Waste
The Low-Level Radioactive Waste Policy Amendments Act of 1985 mandated
that the various states, individually or through interstate compacts,
develop alternative low-level radioactive waste disposal facilities.
The states of Kansas, Nebraska, Arkansas, Louisiana and Oklahoma
formed the Central Interstate Low-Level Radioactive Waste Compact and
selected a site in northern Nebraska to locate a disposal facility.
Wolf Creek Nuclear Operating Corporation (WCNOC) and the owners of the
other five nuclear units in the compact have provided most of the pre-
construction financing for this project.  As of June 30, 2000, KCPL's
net investment on its books was $7.4 million.

Significant opposition to the project has been raised by Nebraska
officials and residents in the area of the proposed facility, and
attempts have been made through litigation and proposed legislation in
Nebraska to slow down or stop development of the facility.   On
December 18, 1998, the application for a license to construct this
project was denied.  In December 1998, the utilities filed a federal
court lawsuit contending Nebraska officials acted in bad faith while
handling the license application.  On January 15, 1999, a request for
a contested case hearing on the denial of the license was filed.  On
April 16, 1999, a U.S. District Court judge in Nebraska issued an
injunction staying indefinitely any further activity on the contested
case hearing.  In May 1999, the state of Nebraska appealed the
injunction.  In April 2000 the court of appeals affirmed the U.S.
District Court's decision.  The possibility of reversing the license
denial will be greater when the contested case hearing ultimately is
conducted than it would have been had the hearing been conducted
immediately.

In May 1999, the Nebraska legislature passed a bill withdrawing
Nebraska from the Compact.  In August 1999, the Nebraska governor gave
official notice of the withdrawal to the other member states.
Withdrawal will not be effective for five years and will not, of
itself, nullify the site license proceeding.

Corporate Owned Life Insurance
On January 4, 2000, KCPL received written notification from the
Internal Revenue Service (IRS) that it intends to dispute interest
deductions associated with KCPL's corporate owned life insurance
(COLI) program.  We understand this issue is an IRS Coordinated Issue
and thus has been raised and not finalized for many of the largest
companies in the country.  A disallowance of KCPL's COLI interest
deductions and assessed interest on the disallowance for tax years
1994 to 1998 would reduce net income by approximately $13 million.
KCPL believes it has complied with all applicable tax laws and
regulations and will vigorously contest any adjustment or claim by the
IRS including exhausting all appeals available.

                                       15
<PAGE>

Home Service Solutions Inc. Debt Guarantee
During 2000, R.S. Andrews Enterprises, Inc. (RSAE), entered into a
bank credit agreement, which currently has an outstanding loan balance
of $8 million.  The agreement is collateralized by the common stock
shares of a major shareholder of RSAE.  As secondary assurance to the
lender, HSS guaranteed the loan; however, HSS' wholly-owned
subsidiary, Worry Free Service, Inc., and its assets are not subject
to the guaranty.

Legal Proceedings
See Part II - Other Information, Item 1. Legal Proceedings.

7. RECEIVABLES

                                 June 30   December 31
                                   2000       1999
                                    (thousands)

KCPL Receivable Corporation     $ 42,192   $ 29,705

Other Receivables                 52,888     41,843

Receivables                     $ 95,080   $ 71,548


In 1999 KCPL entered into a revolving agreement to sell all of its
right, title and interest in the majority of its customer accounts
receivable to KCPL Receivable Corporation, a special purpose entity
established to purchase customer accounts receivable from KCPL.  KCPL
Receivable Corporation has sold receivable interests to outside
investors.  In consideration of the sale, KCPL received $60 million in
cash and the remaining balance in the form of a subordinated note from
KCPL Receivable Corporation. The agreement is structured as a true
sale under which the creditors of KCPL Receivable Corporation will be
entitled to be satisfied out of the assets of KCPL Receivable
Corporation prior to any value being returned to KCPL or its
creditors.

Other receivables consist primarily of receivables from partners in
jointly-owned electric utility plants, bulk power sales receivables
and accounts receivable held by subsidiaries.

8. SIGNIFICANT NONREGULATED INVESTMENTS (Subsequent to December 31,
1999)

During the first quarter of 2000, KLT Gas purchased a 50% ownership in
Patrick Energy, an Oklahoma oil and gas exploration and development
company.  The investment is accounted for using the equity method and
is approximately $20 million at June 30, 2000.

On April 1, 2000, KLT Energy Services invested an additional $6.4
million in Strategic Energy, LLC (SEL).  SEL provides energy supply
coordination services and purchases electricity and gas for resale to
retail end users.  SEL also provides strategic planning and consulting
services in natural gas and electricity markets.  With this
investment, KLT Energy Services economic ownership percentage
increased to 71% (68% of the voting interest) and required KLT to
change its accounting treatment of SEL from the equity basis to
consolidation.  Goodwill associated with KLT Energy Services'
ownership in SEL is being amortized over 15 years using the straight-
line method.

KLT Energy Services has consolidated SEL as if the acquisition took
place at the beginning of 2000. Consistent with the purchase method of
accounting for business combinations, prior year financial information
has not been restated.  SEL revenues consolidated by KLT for the six
months ended June 30, 2000, totaled $48 million resulting in income
before taxes of $6 million.  SEL revenues for the year ended December
31, 1999, totaled $63 million resulting in SEL's income before taxes
of $7 million.

                                       16
<PAGE>

9. DERIVATIVE FINANCIAL INSTRUMENTS

Common Stock Put and Call Option Agreement
KLT entered into a put and call agreement in 1999 in which the grantee
has the option to sell to KLT up to 1,411,765 common shares of a
publicly traded stock at a purchase price of $3.54 per share.  KLT is
also granted the right to purchase up to 1,411,765 common shares at a
purchase price of $4.25 per share.  The exercise period of the option
is from April 30, 2000 through September 30, 2000.  At June 30, 2000,
the stock was trading at approximately $4.99 per share but KLT has not
exercised its option.  Since there are no publicly traded options for
the underlying common stock, the value of KLT's option is not readily
determinable therefore it has not been recorded in the consolidated
financial statements.

Gas Market Price Hedge Instruments
KLT sells 15,000 mmBtu (equivalent to approximately 15 Million Cubic
Feet) of natural gas per day under 3 firm sales agreements of 5,000
mmBtu.  One of the contracts expired on June 30, 2000.  The remaining
two contracts expire in February 2001 and are priced at weighted-
average rates of $2.57 and $2.59 per mmBtu, respectively.  These
contracts are forward contracts settled by physical delivery and KLT
records revenues on the covered sales using the weighted-average rates
under the agreements.

KLT has also entered three financial hedge instruments covering an
additional 22,500 mmBtu of natural gas per day as of June 30, 2000.
Two of these instruments expire in April 2001 and fix KLT's revenue on
sales of 10,000 mmBtu per day at a weighted-average rate of $2.62 per
mmBtu.  The third instrument also expires in April 2001, but the mmBtu
covered and the swap price per mmBtu are variable.  At June 30, 2000,
this instrument covered 12,500 mmBtu per day and fixed KLT's revenue
on the covered sales at a weighted-average rate of $3.11 per mmBtu.
The effect of the swap agreement is calculated by comparing the rate
per the swap agreements to the NYMEX natural gas rate as of the
beginning of the month, which for June 2000 was $4.41 per mmBtu.  The
difference is accounted for by KLT as an adjustment to the related
revenues.

With these six agreements, KLT has mitigated its exposure to market
price fluctuations on approximately 85% of its daily sales.  For its
remaining gas sales not covered by these contracts, KLT sells at
prevailing market prices.

                                       17
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

REGULATION AND COMPETITION

As competition develops throughout the electric utility industry, we
are positioning Kansas City Power & Light Company (KCPL) to excel in
an open market.  We are continuing to improve the efficiency of KCPL's
electric utility operations, lowering prices and offering new
services.

Competition in the electric utility industry accelerated with the
passage of the National Energy Policy Act of 1992.  This Act gave the
Federal Energy Regulatory Commission (FERC) the authority to require
electric utilities to provide transmission line access to independent
power producers (IPPs) and other utilities (wholesale wheeling).

An increasing number of states have already adopted open access
requirements for utilities' retail electric service, allowing
competing suppliers access to their retail customers (retail
wheeling).  Many other states, including Kansas and Missouri, have
actively considered retail competition.  Several comprehensive retail
competition bills were introduced in the 2000 Missouri General
Assembly but none passed this year.  No comprehensive retail
competition bills were introduced in the 2000 Kansas Legislature.

Retail access could result in market-based rates below current cost-
based rates, providing growth opportunities for low-cost producers and
risks for higher-cost producers, especially those with large
industrial customers.  Lower rates and the loss of major customers
could result in stranded costs and place an unfair burden on the
remaining customer base or shareholders.  We cannot predict whether
any stranded costs would be recoverable in future rates.  If an
adequate and fair provision for recovery of lost revenues is not
provided, certain generating assets may have to be evaluated for
impairment and appropriate charges recorded against earnings.  In
addition to lowering profit margins, market-based rates could require
generating assets to be depreciated over shorter useful lives,
increasing operating expenses.

KCPL is positioned to compete in an open market with its diverse
customer mix and pricing strategies.  Industrial customers make up
about 20% of KCPL's retail mwh sales, well below the utility industry
average.  KCPL's flexible industrial rate structure is competitive
with other companies' rate structures in the region.  In addition, we
have entered into long-term contracts for a significant portion of
KCPL's industrial sales.  Although no direct competition for retail
electric service currently exists within KCPL's service territory, it
does exist in the bulk power market and between alternative fuel
suppliers and KCPL.  Third-party energy management companies are
seeking to initiate relationships with large users in KCPL's service
territory to enhance their chances to supply electricity directly when
retail wheeling is authorized.

Increased competition could also force utilities to change accounting
methods.  Financial Accounting Standards Board (FASB) Statement No. 71
- Accounting for Certain Types of Regulation, applies to regulated
entities whose rates are designed to recover the costs of providing
service.  A utility's operations could cease meeting the requirements
of FASB 71 for various reasons, including a change in regulation or a
change in the competitive environment for a company's regulated
services.  For those operations no longer meeting the requirements of
regulatory accounting, regulatory assets would be written off.  KCPL
can maintain its $134 million of regulatory assets at June 30, 2000,
as long as FASB 71 requirements are met.

                                       18
<PAGE>

Competition could eventually have a material, adverse effect on KCPL's
results of operations and financial position.  Should competition
eventually result in a significant charge to equity, capital
requirements and related costs could increase significantly.

PROPOSED RESTRUCTURING

KCPL is proactively seeking to restructure the company in advance of
retail access legislation into a holding company with three separate
subsidiaries - Power Supply, Power Delivery and KLT Inc. (KLT).  This
proposed restructuring will be subject to approval by a number of
regulatory authorities.  We cannot predict when or if these approvals
will be received.  As part of this restructuring, we are requesting
that the generation assets (Power Supply) be deregulated.

We expect this proposed restructuring to create additional value for
KCPL and its shareholders by:
- Enabling KCPL to leverage its low-cost generation assets in an
  unregulated environment.
- Allowing management to focus on value creation within each
  business unit.
- Facilitating growth of each business unit and the expansion into
  new markets.
- Allowing the financial market to evaluate the nonregulated assets
  at a share price to earnings multiple that is greater than the
  multiple historically used to evaluate the regulated electric utility.

Applications for approval of the proposed restructuring were filed
with the Missouri Public Service Commission on May 15, 2000, and with
the Kansas Corporation Commission on June 5, 2000.

Power Supply - generation
KCPL's electric generation business is fundamentally sound and
competitive.  It has a strong asset mix including baseload,
intermediate and peaking units.  KCPL has historically been a low-cost
provider in its region and, with the rebuild of Hawthorn No. 5
(projected to be placed in service in June 2001), KCPL's generation
should be positioned well to compete in a deregulated market.

In addition to the rebuild of Hawthorn No. 5, KCPL has been investing
in increased capacity.  In July 1999, Hawthorn No. 6, a 141-megawatt
unit was placed in service.  Hawthorn Nos. 7, 8 and 9 have been placed
into commercial use this summer.  Combined, Hawthorn Nos. 7, 8 and 9
have nearly 300 megawatts of natural gas-fired generating capacity.

We expect that there will be a power supply agreement for a period of
time between the Power Supply and Power Delivery subsidiaries while
Power Supply's additional generating capacity and competitive cost
structure can also be utilized to sell electricity in the competitive
wholesale market.  We believe KCPL will realize many benefits,
including:
- The ability to make a higher return in a deregulated or
  competitive market.
- The ability to make investment decisions and enter into strategic
  partnerships without needing regulatory approval.

Power Delivery - transmission and distribution
KCPL transmission and distribution (T&D) currently serves over 460,000
customers and experiences annual load growth of around 3% through
increased customer usage and additional customers.  KCPL's rates
charged for electricity are currently below the national average.
Additionally, there is a moratorium on changes to Missouri retail
rates until 2002.

The creation of a separate business for T&D will isolate KCPL's
regulated assets in a separate business unit.  We will pursue an
incentive-based regulatory model under the new structure for the T&D
regulated business.  In addition, the T&D business currently plans to
participate in the Southwest Power Pool Independent System Operator
(ISO).  This will satisfy the FERC requirement

                                       19
<PAGE>

to participate in a Regional Transmission Organization (RTO).  RTOs
will combine the transmission operations of utility businesses in the
region into an organization that can schedule and deliver energy in
the region to ensure regional transmission reliability.

KLT INC. NONREGULATED OPPORTUNITIES

KLT, a wholly-owned subsidiary of KCPL, pursues nonregulated business
ventures.  Existing ventures include investments in
telecommunications, oil and gas development and production, energy
services and affordable housing limited partnerships.

KCPL's investment in KLT was $119 million as of June 30, 2000 and
December 31, 1999.  KLT's income for the six months ended June 30,
2000, totaled $1.8 million compared to a loss of $0.5 million for the
six months ended June 30, 1999.  (See KLT earnings per share analysis
on page 27 for significant factors impacting KLT's operations and
resulting net income for all periods.)  KLT's consolidated assets
totaled $314 million at June 30, 2000 compared to $268 million at
December 31, 1999.

Telecommunications
Through our subsidiary, KLT Telecom, we own 47% of DTI Holdings
(acquired in 1997), which is the parent company of Digital Teleport,
Inc. (DTI), a facilities-based telecommunications company.  DTI is
creating an approximately 20,000 route-mile, digital fiber optic
network comprised of 23 regional rings that interconnect primary,
secondary and tertiary cities in 37 states.  DTI now owns or controls
over 12,000 route-miles of fiber optic capacity with local rings
located in the metropolitan areas of Kansas City, St. Louis, Memphis
and Tulsa.  By the end of 2000, DTI projects it will have over 18,000
route-miles of its network constructed.  DTI Holdings has disclosed
that to achieve this business plan it will need significant financing
to fund capital expenditures, working capital, debt service
requirements and anticipated future operating losses.  DTI Holdings
estimates total capital expenditures necessary to complete their
network will be in excess of $300 million.

The strategic design of the DTI network allows DTI to offer reliable,
high-capacity voice and data transmission services, on a region-by-
region basis, to primary carriers and end-user customers who seek a
competitive alternative to existing providers.  DTI's network
infrastructure is designed to provide reliable customer service
through back-up power systems, automatic traffic re-routing and
computerized automatic network monitoring.  If the network experiences
a failure of one of its links, the routing intelligence of the
equipment transfers traffic to the next choice route, thereby ensuring
call delivery without affecting customers.  DTI currently provides
services to other communications companies including Tier 1 and Tier 2
carriers.  DTI also provides private line services to targeted
business and governmental end-user customers.

KLT Telecom continues to evaluate options to realize value from its
47% ownership in DTI.  At June 30, 2000, KLT Telecom's $45 million
equity investment in DTI had been completely written down.  Should DTI
experience losses after June 30, 2000, KCPL's consolidated earnings
will not be impacted.

KLT and KCPL continue to explore the creation of a business-to-
business exchange, the purpose of which is to allow utilities and
other companies to purchase various goods and services online.  The
exchange is now expected to commence operations in the third quarter
of 2000.

Oil and Gas Development and Production
KLT Gas pursues nonregulated growth primarily through the acquisition,
development and production of natural gas properties.  KLT Gas'
strategy is to create shareholder value through the

                                       20
<PAGE>

acquisition and development of natural gas properties, ultimately
divesting the developed properties as appropriate.  We have built a
knowledge base in coalbed methane production and reserves evaluation.
Therefore, KLT Gas focuses on coalbed methane; a niche in the oil and
gas industry where we believe our expertise gives us a competitive
advantage.  Coalbed methane, with a longer, predictable reserve life, is
inherently lower risk than conventional gas exploration.  In addition
to coalbed methane projects, we seek out high quality conventional gas
production to add further value to our operations.  Conventional gas
properties comprise approximately 25% of KLT Gas' production as of
June 30, 2000.

KLT Gas has properties in Colorado, Texas, Wyoming, Oklahoma, Kansas,
New Mexico and North Dakota.  KLT Gas has an ownership interest in
approximately 350 wells in these states and plans to drill over 150
additional wells during 2000.  These totals include KLT Gas' January
2000 acquisition of 80 wells with significant proven reserves.  As it
pursues its growth strategy, KLT Gas develops newly acquired areas to
realize significant gas production from proven reserves.  With the
January 2000 acquisition, we estimate net proven reserves at June 30,
2000, of approximately 275 billion cubic feet.  Average gas production
at June 30, 2000, was approximately 43 million cubic feet per day.
These levels of net production and reserves in the United States would
place KLT Gas in the top 100 publicly-traded oil and gas companies,
based on the September 1999 Oil and Gas Journal.

The future price scenarios for natural gas appear strong, showing
steady growth.  We believe the demand for natural gas should
strengthen into the future.  Environmental concerns and the increased
demand for natural gas for new electric generating capacity are
driving this projected growth in demand.  We believe that natural gas
prices will continue to be more stable than oil prices and that an
increased demand for natural gas will move natural gas prices upward
in the future.  We utilize gas forward contracts and price swap
contracts for up to 85% of production to minimize the risk of gas
price changes.

Energy Services
In 1999 KLT Energy Services acquired a 56% ownership interest (49% of
the voting interest) in Strategic Energy, LLC (SEL).  In April 2000,
KLT Energy Services invested an additional $6.4 million to increase
its ownership interest to 71% (68% of the voting interest).  SEL buys
and manages electricity and natural gas in unregulated markets for
commercial and industrial customers.  SEL also provides strategic
planning and consulting services in natural gas and electricity
markets.

SEL builds strong customer relationships by providing quality services
over extended periods of time.  SEL has provided services to over 100
Fortune 500 companies and currently serves over 6,000 customers.  SEL
has developed an excellent market reputation over the past fifteen
years.

SEL has developed into a major provider of services, mainly
electricity for a fee, in the newly deregulated electricity market in
Pennsylvania, capturing approximately 10% of the eligible commercial
market and 4% of the eligible industrial market in western
Pennsylvania.  SEL utilizes hedges on all of its retail obligations to
eliminate any material market risk.

SEL has invested substantial dollars over the past three years in
information systems necessary to manage both retail and wholesale
energy on an integrated basis.  SEL plans to continue investing in
systems to maintain and exploit their technological advantage.

HOME SERVICE SOLUTIONS INC. NONREGULATED OPPORTUNITIES

Home Service Solutions Inc. (HSS), a wholly-owned subsidiary of KCPL,
pursues nonregulated business ventures, primarily in residential
services.  At June 30, 2000, HSS had a 49% ownership in

                                       21
<PAGE>

R.S. Andrews Enterprises, Inc. (RSAE), a consumer services company in
Atlanta, Georgia.  RSAE has made acquisitions in key U.S. markets.  RSAE
provides heating, cooling, plumbing and electrical services as well as
appliance services, pest control and home warranties.  Additionally,
Worry Free Service, Inc., a wholly-owned subsidiary of HSS, assists
residential customers in obtaining financing primarily for heating and
air conditioning equipment.

KCPL's investment in HSS was $46.3 million as of June 30, 2000, and
December 31, 1999.  HSS' loss for the six months ended June 30, 2000,
totaled $2.2 million compared to $0.4 million for the six months ended
June 30, 1999.  HSS' increased loss for the six months ended June 30,
2000, was primarily due to continued losses associated with its
investment in RSAE.  At June 30, 2000, KCPL's net investment in HSS
was $39.6 million, which includes losses to date of $6.7 million.

RESULTS OF OPERATIONS

Three-month period:     Three months ended June 30, 2000, compared
                        with three months ended June 30, 1999
Six-month period:       Six months ended June 30, 2000, compared with
                        six months ended June 30, 1999
Twelve-month period:    Twelve months ended June 30, 2000, compared
                        with twelve months ended June 30, 1999

EARNINGS OVERVIEW

                         Three months    Six months      Twelve months
                         ended June 30   ended June 30   ended June 30
                          2000   1999    2000   1999     2000   1999
  Core utility earnings per
    share                $0.39  $0.40   $0.43  $0.59    $1.19  $1.69
  KLT Inc. gain (loss) 1  0.06  (0.01)   0.03  (0.01)    0.02  (0.05)
  HSS Inc. loss          (0.02)     -   (0.04) (0.01)   (0.09) (0.01)
  Cumulative effect of
    changes in pension
    accounting               -      -    0.49      -     0.49      -
Reported earnings per
    share (EPS)          $0.43  $0.39   $0.91  $0.57    $1.61  $1.63

                                              For the Periods Ended
                                        June 30, 2000 versus June 30,1999
                                        Three       Six         Twelve
                                        Months      Months      Months
Factors impacting core                        Increase (decrease)
utility EPS
  Merger impact                        $ 0.02      $ 0.02       $ 0.17
  July 1999 heat storm                      -           -        (0.18)
  1999 write off of start up costs          -        0.02         0.02
  Retail customers' rate reduction in
    Missouri effective March 1, 1999        -       (0.02)       (0.10)
  Other (see discussion below)          (0.03)      (0.18)       (0.41)
Total impact of factors impacting
  core utility EPS                     $(0.01)     $(0.16)      $(0.50)
1 See KLT earnings per share analysis on page 27.


Contributing to the decreases in other factors impacting core utility
EPS (reflected in the table above) are the following:
  -  The impact of the unavailability of Hawthorn No. 5 (see discussion
     on page 32).

                                       22
<PAGE>

  -  Higher net interchange and fuel costs, because of increased per
     unit prices, of approximately $11 million or $0.11 per share in the
     three-month period, $15 million or $0.15 per share in the six-month
     period and $17 million or $0.17 per share in the twelve-month period.
     The impact of these increased costs on EPS was partially offset by
     increased revenues during the three- and six-month periods.
  -  Higher customer accounts expenses in the six- and twelve-month
     periods.
  -  Forced outage insurance and guaranteed capacity costs in all
     periods of approximately $2 million or $0.02 per share.

Effective January 1, 2000, KCPL changed its methods of amortizing
unrecognized net gains and losses and determination of expected return
related to its accounting for pension expense.  Accounting principles
required KCPL to record the cumulative effect of these changes in the
three months ended March 31, 2000, increasing common stock earnings by
$0.49 per share or $30.1 million.  Additionally, the changes in
pension accounting will reduce pension expense by $8.2 million for the
year 2000, increasing earnings per share by $0.08 per share.  One-half
of this reduction in pension expense was allocated to the six months
ended June 30, 2000.  See Note 1 to the Consolidated Financial
Statements for further information.

MEGAWATT-HOUR (MWH) SALES AND OPERATING REVENUES

Sales and revenue data:
(revenue change in millions)
                   Periods ended June 30, 2000 versus June 30, 1999
                   Three Months      Six Months      Twelve Months
                    Mwh  Revenues    Mwh  Revenues    Mwh  Revenues
                                 Increase (decrease)
Retail Sales:
 Residential        4  %   $   3     2  %    $   3    (1)%   $  (3)
 Commercial         4  %       4     5  %        5     3 %       4
 Industrial         3  %       2     2  %        3     - %       2
 Other              8  %       -    10  %        -     6 %       1
  Total Retail      4  %       9     3  %       11     1 %       4
Sales for Resale:
 Bulk Power Sales   2  %       1   (19) %       (1)  (15)%      (7)
 Other              2  %       -     2  %        -     1 %       -
   Total            4  %      10     -  %       10    (1)%      (3)
 Other revenues                1                 1               -
   Total Operating
      Revenues             $  11             $  11           $  (3)

In 1999 the Missouri Public Service Commission (MPSC) approved a
stipulation and agreement that called for KCPL to reduce its annual
Missouri electric revenues by 3.2%, or about $15 million effective
March 1, 1999.  Revenues decreased by approximately $2 million for the
six-month period and $10 million for the twelve-month period as a
result of the Missouri rate reduction.  As part of the stipulation and
agreement, KCPL, MPSC Staff or the Office of Public Counsel will not
file any case with the Commission, requesting a general increase or
decrease, rate credits or rate refunds that would become effective
prior to March 1, 2002.

For all periods, retail mwh sales increased primarily due to continued
load growth.  Load growth consists of higher usage-per-customer as
well as the addition of new customers.  Less than 1% of revenues include
an automatic fuel adjustment provision.

                                       23
<PAGE>

Bulk power sales vary with system requirements, generating unit and
purchased power availability, fuel costs and requirements of other
electric systems.  The unavailability of Hawthorn No. 5 contributed to
the decreases in bulk power mwh sales for the six- and twelve-month
periods.  Wolf Creek's tenth maintenance and refueling outage during
the second quarter of 1999 contributed to reduced bulk power mwh sales
for the three, six and twelve months ended June 30, 1999.
Furthermore, the Fall 1998 outage at Hawthorn No. 5, due to a ruptured
steam pipe, and the Fall 1998 outage at LaCygne No. 1 contributed to
reduced bulk power mwh sales for the twelve months ended June 30,
1999.

Future mwh sales and revenues per mwh could be affected by national
and local economies, weather, customer conservation efforts and
availability of generating units.  Competition, including alternative
sources of energy, such as natural gas, co-generation, IPPs and other
electric utilities, may also affect future sales and revenue.

FUEL AND PURCHASED POWER

                                Percentage change for the period
                              Combined fuel
                              and purchased
                              power expenses    Total MWH sales
                                     Increase(Decrease)
    Three-month period             31 %               4 %
    Six-month period               19 %               - %
    Twelve-month period            22 %              (1)%

Excluding the fuel costs of Hawthorn No. 5 for all periods, and the
impact of the July 1999 heat storm for the twelve-month period, net
interchange and fuel costs increased by about $11 million for the
three-month period, $15 million for the six-month period and $17
million for the twelve-month period.  These increased costs included
higher fuel costs per mwh of generation by 28% for the three-month
period, 15% for the six-month period and 8% for the twelve-month
period primarily because of increased generation at fossil plants
using natural gas and oil.  Natural gas and oil have a significantly
higher fuel cost per mwh of generation than coal or nuclear fuel.
Additionally, for all periods the cost per mwh for purchased power was
significantly higher than the fuel cost per mwh of generation.  The
total cost of purchased power increased 12% for the three-month
period, 22% for the six-month period and 45% for the twelve-month
period even though total mwh of purchased power decreased for all
periods.  For the twelve-month period, the unavailability of Hawthorn
No. 5 resulted in increased purchased power expenses partially offset
by decreased fuel expenses at Hawthorn No. 5.  Moreover, as a result
of the intense and prolonged heat in the Midwest during the last half
of July 1999, KCPL incurred approximately $18 million in higher costs,
including purchased power expenses, net of the increased revenues.

We have implemented the following risk mitigation measures to protect
KCPL in the event of another very hot summer period:
- Price protection: We have replaced 325 megawatts of KCPL's
  purchased capacity at market-based energy prices with about 300
  megawatts of generation at known prices.  Hawthorn Nos. 7, 8 and 9,
  gas-fired units, have been completed and placed into commercial use
  this summer.
- Forced outage swaps for the period June 1 to September 30, 2000:
  We made arrangements to share the forced outage exposure of two of
  KCPL's larger generating units with another utility's two generating
  units outside of our service territory.  Each utility will supply the
  other with up to 50 mwh per hour of electricity per generating unit at
  a set price per mwh should a forced outage

                                       24
<PAGE>

  occur.  If KCPL has to supply power under this agreement, the maximum
  exposure (which is unlikely) is from $5 million to $10 million.
- Forced outage insurance: We have implemented two insurance risk
  mitigation measures to protect KCPL in the event of a forced outage
  during the summer months.  Insurance coverage, above certain
  deductible limits and at a cost of $3.7 million, would partially
  offset the excess costs of replacement power incurred if a forced
  outage occurs at any of KCPL's major generating units.  In addition,
  we purchased 100 megawatts of capacity with delivery guaranteed by the
  supplier at a cost of $4.3 million, from June through September, in
  the event of a forced outage at certain of KCPL's major generating
  units.  These costs are being expensed equally over the coverage
  periods.
- Delivery protection: KCPL has purchased 905 megawatts of firm
  transmission capacity from neighboring systems to ensure the delivery
  of power from outside sources during summer peak periods.

Nuclear fuel costs per mmBtu decreased 7% for the twelve-month period
and remained substantially less than the mmBtu price of coal.  Nuclear
fuel costs per mmBtu averaged about 54% of the mmBtu price of coal for
the twelve months ended June 30, 2000, and 59% of the mmBtu price of
coal for the twelve months ended June 30, 1999.  We expect the price
of nuclear fuel to remain fairly constant through the year 2003.
During the twelve months ended June 30, 2000, fossil plants
represented about 68% and the nuclear plant about 32% of total
generation.  For the twelve months ended June 30, 1999, fossil plants
represented about 71% and the nuclear plant about 29% of total
generation.

The cost of coal per mmBtu increased 2% for the twelve-month period
partially because of the unavailability of Hawthorn No. 5.  The cost
of coal per mmBtu at Hawthorn No. 5 was lower than the average cost of
coal per mmBtu at most of KCPL's other coal-fired plants.  However,
KCPL's coal procurement strategies continue to provide coal costs
below the regional average and we expect coal costs to remain fairly
consistent with current levels through 2000.

OTHER OPERATION AND MAINTENANCE EXPENSES

Combined other operation and maintenance expenses increased about $4
million or 7% for the three-month period, $13 million or 10% for the
six-month period and about $13 million or 5% for the twelve-month
period primarily due to the following:
- Non-station production expenses increased because of the cost of
  forced outage insurance purchased in the second quarter of 2000 and
  energy costs incurred during the test runs at Hawthorn Nos. 7, 8 and 9.
- Non-fuel production operations increased due to operating and
  lease expenses for Hawthorn No. 6, which was placed into commercial
  operation in July 1999 and higher operating expenses at certain
  generating units.
- For the three- and six-month periods, administrative and general
  expenses decreased primarily due to the impact of the changes in
  pension accounting.
- For the three- and six-month periods, maintenance expenses
  increased primarily due to scheduled maintenance at KCPL's generating
  units.
- For the six- and twelve-month periods, customer accounts expenses
  increased primarily due to computer software consulting services.
- For the twelve-month period, customer accounts expenses also
  increased because of higher meter reading expenses.
- For the twelve-month period, Hawthorn No. 5's other operation and
  maintenance expenses decreased because of the boiler explosion in
  February 1999.

                                       25
<PAGE>

- For the twelve-month period, administrative and general expenses
  increased primarily due to increased salary expenses incurred for
  information technology Year 2000 preparedness and implementation of
  system applications.  Much of the additional salary expense associated
  with the implementation of system applications was capitalized in the
  twelve months ended June 30, 1999.
- For the twelve-month period, production maintenance expenses
  decreased primarily due to lower maintenance expenses during forced
  outages at KCPL's generating units.

We continue to emphasize new technologies, improved work methodology
and cost control.  We continuously improve our work processes to
increase efficiencies and improve operations.

DEPRECIATION

The increase in depreciation expense for all periods reflected
increased depreciation of capitalized computer software for internal
use and normal increases in depreciation from capital additions.
These increases were partially offset in the six- and twelve-month
periods by a decrease in depreciation expense because Hawthorn No. 5
was partially retired due to the February 1999 explosion.

TAXES

Operating income taxes decreased for all periods reflecting lower
taxable operating income.

Components of general taxes:
                     Three months       Six months        Twelve months
                     ended June 30      ended June 30     ended June 30
                     2000     1999      2000     1999      2000     1999
                                         (thousands)

  Property         $ 10,341 $ 10,741  $ 20,681 $ 21,483  $ 41,933 $ 41,864
  Gross receipts      9,281    9,007    17,936   17,919    41,233   41,609
  Other               2,377    2,343     4,596    4,500     9,146    9,814
     Total         $ 21,999 $ 22,091  $ 43,213 $ 43,902  $ 92,312 $ 93,287

                                       26
<PAGE>

OTHER INCOME AND (DEDUCTIONS)

KLT summarized operations:
                          Three months     Six months      Twelve months
                          ended June 30    ended June 30   ended June 30
                          2000   1999     2000    1999      2000    1999
                            (millions, except for earnings per share)
Miscellaneous income and
  (deductions) - net *  $ (1.1) $ (9.6) $ (11.5) $ (17.7) $ (28.4) $ (36.0)
Income taxes               8.6    11.9     20.5     23.3     42.4     45.6
Interest charges          (3.8)   (3.1)    (7.2)    (6.1)   (13.0)   (12.4)
    Net income (loss)   $  3.7  $ (0.8) $   1.8  $  (0.5) $   1.0  $  (2.8)

KLT earnings (loss) per
  share                 $  0.06 $(0.01) $  0.03  $ (0.01) $  0.02  $ (0.05)
* To table on page 28

KLT earnings per share analysis:
                          Three months      Six months       Twelve months
                          ended June 30    ended June 30     ended June 30
                          2000   1999      2000   1999       2000    1999
                                       (earnings per share)
KLT excluding items
  below                  $ 0.11 $ 0.08   $ 0.20  $ 0.13     $ 0.39  $ 0.26
Write-off of CellNet
  stock                       -      -    (0.05)      -      (0.05)      -
Sale of Custom Lighting
  Services                 0.02      -     0.02       -       0.02       -
Sale of Nationwide
  Electric                    -      -        -       -       0.20       -
Write down of Lyco
  investment                  -      -        -       -      (0.03)      -
Write down of a note
  receivable                  -      -        -       -      (0.05)      -
KLT Power transactions-
  1998                        -      -        -       -          -   (0.02)
KLT Telecom - Telemetry
  Solutions                   -   (0.02)      -   (0.04)     (0.18)  (0.08)
KLT Telecom - Digital
  Teleport Inc.           (0.07)  (0.07)  (0.14)  (0.10)     (0.28)  (0.21)
     KLT Earnings (Loss)
       per share         $ 0.06 $ (0.01) $ 0.03  $(0.01)    $ 0.02  $(0.05)

For all periods, earnings per share from KLT (excluding KLT Telecom
and one-time transactions) increased primarily due to improved
earnings from its investments in gas production and development, and
energy services.

In June 2000, KLT sold its investment in Custom Lighting Services,
resulting in a gain of $2.5 million before taxes.  In March 2000, KLT
wrote off its investment of $4.8 million before taxes in CellNet Data
Systems Inc.  Through December 31, 1999, $3.8 million before taxes, or
$0.04 per share, of this loss had been reported as an unrealized loss
in the Consolidated Statements of Comprehensive Income.

KLT recorded equity losses on its investment in Digital Teleport, Inc.
(DTI) of approximately $7 million for the three months ended June 30,
2000, $14 million for the six months ended June 30, 2000, and $28
million for the twelve months ended June 30, 2000.  DTI is developing
a National fiber optic network.  At June 30, 2000, the equity
investment in DTI had been completely written down.  Should DTI
experience losses after June 30, 2000, KCPL's consolidated earnings
will not be impacted.

                                       27
<PAGE>

In the twelve months ended June 30, 2000, KLT Energy Services sold
100% of the stock it held in Nationwide Electric, Inc., resulting in a
gain of $20 million.  Additionally, in the twelve months ended June
30, 2000, KLT Telecom wrote off its investment in Telemetry Solutions.
Both the write-off of the investment ($0.13 per share) and the
operating losses incurred in the twelve months ended June 30, 2000,
prior to the write-off, are included on the KLT Telecom - Telemetry
Solutions line in the earnings per share table above.

Miscellaneous income and (deductions) - net:
                             Three months     Six months        Twelve months
                             ended June 30    ended June 30     ended June 30
                             2000     1999    2000     1999     2000     1999
                                               (millions)
  Merger-related expenses  $   -   $ (0.8)  $ (0.2)  $ (1.1)  $ (2.3)  $ (9.6)
* From table on page 27     (1.1)    (9.6)   (11.5)   (17.7)   (28.4)   (36.0)
  Other                     (1.6)    (1.4)    (7.2)    (3.5)   (17.6)    (4.4)
   Total Miscellaneous
   income and (deductions)
   -net                   $ (2.7) $ (11.8) $ (18.9) $ (22.3) $ (48.3) $ (50.0)


Other Miscellaneous income and (deductions) - net for the six- and
twelve-month periods were affected by an increase of approximately $2
million in the six-month period and $3 million in the twelve-month
period primarily reflecting bad debt expense associated with the sale
of accounts receivable to KCPL Receivable Corporation.  Prior to
establishing KCPL Receivable Corporation, bad debt expense on accounts
receivable was recorded as an other operating expense.  A $2.3 million
reduction in electric operations interest and dividend income also
affected the twelve-month period.  Further, HSS' operations resulted
in increased deductions of approximately $1.5 million for the three-
month period, $3.2 million for the six-month period and $8.2 million
for the twelve-month period primarily due to equity losses from HSS'
investment in R.S. Andrews Enterprises, Inc.

Other Income and (Deductions) - Income taxes
Other Income and (Deductions) - Income taxes for all periods reflects
the tax impact on total miscellaneous income and (deductions) - net.
In addition, KLT accrued tax credits of $14 million for the six months
ended June 30, 2000, and $15 million for the six months ended June 30,
1999.  KLT accrued tax credits of $27 million for the twelve months
ended June 30, 2000 and 1999.

INTEREST CHARGES

Long-term debt interest expense increased for the three- and six-month
periods, reflecting higher average levels of outstanding long-term
debt and higher average interest rates on variable rate debt.  The
higher average levels of debt primarily reflect $200 million of
unsecured, floating rate medium-term notes issued by KCPL in March
2000 partially offset by scheduled debt repayments by KCPL.  In
addition, KLT Gas made borrowings on a new bank credit agreement
entered in the first quarter of 2000.  KLT made scheduled debt
repayments on its affordable housing notes partially offsetting the
increase in average levels of outstanding long-term debt.

Short-term debt interest expense increased for all periods, since KCPL
had higher average levels of outstanding short-term debt.  KCPL had
$159 million of commercial paper outstanding at June 30, 2000,
compared to $95 million at June 30, 1999.

                                       28
<PAGE>

We use interest rate swap and cap agreements to limit the volatility
in interest expense on a portion of KCPL's variable-rate, long-term
debt.  Although these agreements are an integral part of interest rate
management, the incremental effect on interest expense and cash flows
is not significant.  We do not use derivative financial instruments
for speculative purposes.

Allowance for Funds Used During Construction
Allowance for funds used during construction (allowance for equity
funds and borrowed funds) increased during all periods because of
increased expenditures for construction projects at the Hawthorn
generating station.  Allowance for borrowed funds used during
construction increased more than equity funds used during construction
in all periods due to higher balances of outstanding short-term debt
during the periods.  FERC guidelines for calculating the allowance
used during construction require consideration of the level of
outstanding short-term debt before equity funds.

WOLF CREEK

Wolf Creek is one of KCPL's principal generating units, representing
about 18% of KCPL's generating capacity, excluding the Hawthorn No. 5
generating unit.  The plant's operating performance has remained
strong over the last three years, contributing about 28% of the annual
mwh generation while operating at an average capacity of 92%.
Furthermore, Wolf Creek has the lowest fuel cost per mmBtu of any of
KCPL's generating units.

We accrue the incremental operating, maintenance and replacement power
costs for planned outages evenly over the unit's operating cycle,
normally 18 months.  As actual outage expenses are incurred, the
refueling liability and related deferred tax asset are reduced.  Wolf
Creek's eleventh refueling and maintenance outage is scheduled for
Fall 2000 and is estimated to be a 35-day outage.

Wolf Creek's tenth refueling and maintenance outage, estimated to be a
40-day outage, began April 3, 1999, and was completed May 9, 1999.
Actual costs of the 1999 outage were $1 million less than the
estimated and accrued costs for the outage primarily because the 36-
day outage was shorter than estimated.  In fact, it was the shortest
refueling and maintenance outage in Wolf Creek's history.

Ownership and operation of a nuclear generating unit exposes KCPL to
risks regarding decommissioning costs at the end of the unit's life
and to potential retrospective assessments and property losses in
excess of insurance coverage.

ENVIRONMENTAL MATTERS

KCPL's operations must comply with federal, state and local
environmental laws and regulations.  The generation and transmission
of electricity produces and requires disposal of certain products and
by-products, including polychlorinated biphenyl (PCBs), asbestos and
other potentially hazardous materials.  The Federal Comprehensive
Environmental Response, Compensation and Liability Act (the Superfund
law) imposes strict joint and several liability for those who
generate, transport or deposit hazardous waste.  This liability
extends to the current property owner, as well as prior owners, back
to the time of contamination.

We continually conduct environmental audits to detect contamination
and ensure compliance with governmental regulations.  However,
compliance programs need to meet new and future environmental laws, as
well as regulations governing water and air quality, including carbon
dioxide emissions, nitrogen oxide emissions, hazardous waste handling
and disposal, toxic substances and

                                       29
<PAGE>

the effects of electromagnetic fields.  Therefore, compliance programs
could require substantial changes to operations or facilities (see
Note 6 to the Consolidated Financial Statements).

SIGNIFICANT CONSOLIDATED BALANCE SHEET CHANGES (June 30, 2000 compared
to December 31, 1999)

  -  Utility plant - construction work in process increased $141.9
     million primarily due to increases of $111.1 million at Hawthorn No. 5
     for rebuilding the boiler and $43.2 million for construction of Hawthorn
     Nos. 8 and 9, which were placed into commercial use in July 2000.
  -  Investments and nonutility property increased $8.1 million
     primarily due to a $6.1 million increase in KLT's investments
     including:
     -   $ 30.5 million increase in oil and gas property and investments,
     -   $ 7.3 million decrease due to increased ownership in Strategic
         Energy, L.L.C. (SEL) resulting in a change in the accounting for SEL
         from the equity method to consolidation,
     -   $ 14.0 million decrease due to equity losses from the investment
         in Digital Teleport Inc.
  -  Receivables increased $23.5 million primarily due to $18.8
     million in accounts receivable recorded by KLT due to the
     consolidation of SEL and a $12.5 million increase in a receivable from
     KCPL Receivable Corporation.  Because of seasonally higher retail
     sales in June 2000 versus December 1999, there were higher customer
     accounts receivable available to sell to KCPL Receivable Corporation.
     These increases were partially offset by decreased receivables from
     partners in jointly-owned plants by $6.5 million.
  -  Other current assets increased $10.4 million primarily due to
     $4.0 million in prepayments for risk mitigation measures including
     forced outage insurance and guaranteed electric capacity during the
     summer months.
  -  Prepaid pension costs increased $58.7 million because KCPL
     changed its methods of accounting for pension expenses (see Note 1 to
     the Consolidated Financial Statements).
  -  Other deferred charges increased $13.7 million primarily due to
     increased goodwill resulting from KLT's purchase of an additional
     ownership interest in SEL and the change in accounting for SEL from
     the equity method to consolidation.
  -  Capitalization increased $277.6 million primarily due to KCPL's
     issuance of $200 million of unsecured medium-term notes.  Proceeds
     from the issuance were used to repay outstanding short-term commercial
     paper.  Additionally, KCPL reclassified $50.0 million of long-term
     debt to current maturities and recorded net income in excess of
     dividend payments of $5.2 million, including $30.1 million for the
     cumulative effect of changes in pension accounting.  KLT's long-term
     debt increased $120.1 million primarily due to renegotiating KLT's
     bank credit agreement from short-term to long-term, and $51.0 million
     of borrowings on a new KLT Gas bank credit agreement.
  -  Notes payable to banks decreased $24.7 million because KLT Gas
     repaid its notes payable to banks with proceeds from borrowings on its
     new long-term bank credit agreement.
  -  Commercial paper decreased $54.7 million as a result of the
     $200.0 million repayment with the proceeds from the new long-term
     debt.  This decrease was partially offset by additional commercial
     paper borrowings because expenditures exceeded cash receipts.
  -  Current maturities of long-term debt decreased $54.9 million
     primarily reflecting the renegotiating of KLT's bank credit agreement
     from short-term to long-term, which was $61.0 million at December 31,
     1999, partially offset by an $8.0 million increase in the current
     portion of KCPL's medium-term notes.
  -  Accounts payable increased $45.7 million primarily due to the
     timing of payments for expenditures associated with construction
     projects at the Hawthorn generating station and $13.6 million in
     accounts payable recorded by KLT due to the consolidation of SEL.

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<PAGE>

  -  Accrued taxes increased $18.0 million primarily due to the timing
     of income tax and property tax payments.
  -  Deferred income taxes increased by $19.1 million mostly due to a
     $19.2 million increase in deferred taxes associated with the
     cumulative effect of changes in pension accounting.

CAPITAL REQUIREMENTS AND LIQUIDITY

KCPL's liquid resources at June 30, 2000, included cash flows from
operations; $100 million of registered but unissued, unsecured medium-
term notes; and $159 million of unused bank lines of credit.  The
unused lines consisted of KCPL's short-term bank lines of credit of
$116 million and KLT's bank credit agreement of $43 million.  These
amounts do not include $4 million available to KLT Gas on its new $55
million bank credit agreement as these funds are only available to KLT
Gas for oil and gas development and production.

KCPL continues to generate positive cash flows from operating
activities.  Individual components of working capital will vary with
normal business cycles and operations.  Also, the timing of the Wolf
Creek outage affects the refueling outage accrual, deferred income
taxes and amortization of nuclear fuel.  The increase in cash from
operating activities for the six-month period was primarily due to
changes in certain working capital items (as detailed in Note 2 to the
Consolidated Financial Statements).  Additionally, the buyout of a
fuel contract in 1999; the refund of amounts accrued for the Kansas
rate refunds; and a payment of $19 million in 1999 to the IRS to
settle certain outstanding issues decreased cash flows from operating
activities for the six months ended June 30, 1999.  Partially
offsetting these changes for the six-month period, income before non-
cash expenses (income is before the cumulative effect of changes in
accounting principles) decreased by about $7 million.

Cash from operating activities increased for the twelve-month period
primarily due to changes in certain working capital items (as detailed
in Note 2 to the Consolidated Financial Statements).  Additionally,
the buyout of a fuel contract in 1999 and a payment of $19 million in
1999 to the IRS to settle certain outstanding issues decreased cash
flows from operating activities for the twelve months ended June 30,
1999.  Partially offsetting these changes for the twelve-month period,
income before non-cash expenses (income is before the cumulative effect
of changes in accounting principles) decreased by about $29 million.

Cash used for investing activities varies with the timing of utility
capital expenditures and purchases of investments and nonutility
property.  Cash used for investing activities increased for the six-
month period primarily reflecting increased utility capital
expenditures for construction projects at the Hawthorn generating
station and increased purchases by KLT of oil and gas investments.
The receipt of $50 million in the six-month period of partial
insurance recoveries related to Hawthorn No. 5 partially offset the
above increases.  Cash used for investing activities increased for the
twelve-month period primarily because of increased utility capital
expenditures and increased expenditures for oil and gas nonutility
property.  The proceeds from the sale of the Nationwide Electric, Inc.
stock by KLT Energy Services and $130 million in partial insurance
recoveries related to Hawthorn No. 5 partially offset these increases
in the twelve-month period.  The twelve months ended June 30, 1999,
reflected the proceeds from the sale of KLT Power Inc.

Cash from financing activities increased for the six- and twelve-month
periods primarily because KCPL issued $200 million of unsecured medium-
term notes in the first quarter of 2000 and KLT increased borrowings
on its bank credit agreements, including KLT Gas' new bank credit
agreement.  Furthermore, KCPL's short-term borrowings increased for
both periods prior to the repayment with proceeds from the unsecured
medium-term note issuance.  Partially offsetting these

                                       31
<PAGE>

increases, KCPL's scheduled debt repayments were higher in both periods.
In the twelve-month period, KCPL redeemed $50 million of preferred stock.

KCPL's common dividend payout ratio was 148% (excluding the cumulative
effect of changes in accounting principles) for the twelve months
ended June 30, 2000, and 102% for the twelve months ended June 30,
1999.

We expect KCPL to meet day-to-day operations, utility construction
requirements (excluding new generating capacity) and dividends with
internally-generated funds.  But KCPL might not be able to meet these
requirements with internally-generated funds because of the effect of
inflation on operating expenses, the level of mwh sales, regulatory
actions, compliance with future environment regulations and the
availability of generating units (see Hawthorn No. 5 discussion
below).  The funds needed to retire $564 million of maturing debt
through the year 2004 will be provided from operations, refinancings
and/or short-term debt.  KCPL may issue additional debt and/or
additional equity to finance growth or take advantage of new
opportunities.

HAWTHORN NO. 5

On February 17, 1999, an explosion occurred at the 476-megawatt, coal-
fired Hawthorn Generating Station Unit No. 5 (Hawthorn No. 5).  The
boiler, which was not operating at the time, was destroyed, but there
were no injuries.  Though the cause of the explosion is still under
investigation, preliminary results indicate that an explosion of
accumulated gas in the boiler's firebox caused the damage.  KCPL has
property insurance coverage with limits of $300 million.  Through June
30, 2000, KCPL has received $130 million in insurance recoveries under
this coverage and has recorded the recoveries in Utility Plant -
accumulated depreciation on the consolidated balance sheet.

We have entered into a contract for construction of a new coal-fired
boiler to permanently replace the lost capacity of Hawthorn No. 5.
Expenditures for rebuilding Hawthorn No. 5 were $36 million in 1999
and are projected to be $213 million in 2000 and $73 million in 2001.
These amounts have not been reduced by the insurance proceeds received
to date or future proceeds to be received.  Construction on the new
unit, expected to have a capacity of 550 megawatts, is progressing and
is on target for an in-service date in June 2001.  A milestone event
was reached in June 2000 when the steam drum was successfully raised
into place on the rebuilt structure.

We believe that we can secure sufficient power to meet the energy
needs of KCPL's customers during the Hawthorn No. 5 reconstruction and
we have implemented risk mitigation measures as discussed on page 24.
Hawthorn No. 6, a 141-megawatt, gas-fired combustion turbine was
accepted under a lease arrangement and placed into commercial
operation in July 1999.  In addition, construction of two new natural
gas-fired combustion turbines and a re-powered existing unit, Hawthorn
Nos. 7, 8 and 9, has been completed and the units were placed into
commercial use this summer.  These three units are capable of
generating 294 megawatts of capacity.

Assuming normal weather and operating conditions, we estimate
additional expenses (before tax) of $31 million for the year 2000 and
$3 million for the year 2001 due to the unavailability of Hawthorn No.
5.  This estimate mainly includes the effect of increased net
replacement power costs, reduced bulk power sales and reduced fuel
expense at Hawthorn No. 5.

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<PAGE>

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK

KCPL is exposed to market risks associated with commodity price
and supply, interest rates and equity prices.

Commodity Risk
KCPL and KLT, through its majority-owned subsidiary, Strategic
Energy, L.L.C. (SEL), engage in the wholesale and retail
marketing of electricity, and accordingly, are exposed to risk
associated with the price of electricity.

KCPL's wholesale operations include the physical delivery and
marketing of power obtained through its generation capacity and
long, intermediate and short-term contracts.  KCPL maintains a
net positive supply of energy and capacity, through its
generation assets and power purchase and lease agreements, to
protect it from the potential operational failure of one of its
owned or contracted power generating units.  Including the
proposed capacity for the rebuilt Hawthorn No. 5, KCPL's expected
reserve margin will approximate 18% of its capacity.  However, as
necessary, KCPL enters into power purchase agreements with the
objective of obtaining low-cost energy to meet its physical
delivery obligations to its customers.  We have implemented price
and volume risk mitigation measures to protect KCPL in the event
of a hot summer period.  These measures are more fully discussed
in the Fuel and Purchased Power section of Management's
Discussion and Analysis.

KCPL's operations include the regulated sales of electricity to
its retail customers and bulk power sales of electricity in the
unregulated, wholesale market.  There is a moratorium on changes
to Missouri retail rates until 2002.  A hypothetical 10% increase
in the cost of purchased power would have resulted in a $10
million decrease in pretax earnings in the twelve months ended
June 30, 2000.  A hypothetical 10% increase in fossil fuel costs
for generation would have resulted in a $11 million decrease in
pretax earnings in the twelve months ended June 30, 2000.

SEL provides power supply coordination services purchasing
electricity and reselling it to retail end users.  SEL aggregates
retail customers into economic purchasing pools, develops
predictive load models for the pools and then builds a portfolio
of suppliers to provide the pools with reliable power at the
lowest possible cost.  SEL has entered into a supply contract
with a call option that mitigates the commodity risk associated
with its power supply coordination services.

KLT, through its wholly-owned subsidiary, KLT Gas Inc., has
entered into three firm gas sales agreements and three financial
hedge instruments to mitigate its exposure to market price
fluctuations on approximately 85% of its daily gas sales.  For
further discussion of these agreements see Note 9. Derivative
Financial Instruments in the Notes to Consolidated Financial
Statements.

We continue to believe that KCPL and KLT's business philosophy,
performance measurement and other management activities are not
consistent with that of a "trading organization".  Commitments to
purchase and sell energy and energy-related products are carried
at cost.  We report the revenue and expense associated with all
energy contracts at the time the underlying physical transaction
closes consistent with the business philosophy of
generating/purchasing and delivering physical power to customers.

                                       33
<PAGE>

Interest Rate Risk
KCPL and KLT use a combination of fixed rate and variable rate
debt.  Interest rate swap and cap agreements may be entered into
with highly rated financial institutions to reduce interest rate
exposure on variable rate debt when deemed appropriate, based
upon market conditions.  Using outstanding balances and
annualized interest rates as of June 30, 2000, a hypothetical 10%
increase in the interest rates associated with variable rate debt
would have resulted in a $5 million decrease in pretax earnings
for the twelve-months ended June 30, 2000.

Equity Price Risk
KCPL maintains trust funds, as required by the Nuclear Regulatory
Commission (NRC), to fund certain costs of decommissioning its
nuclear plant.  We do not expect nuclear plant decommissioning to
start before 2025.  As of June 30, 2000, these funds were
invested primarily in domestic equity securities and fixed income
securities and are reflected at fair value on the Consolidated
Balance Sheets.  The mix of securities is designed to provide
returns to be used to fund decommissioning and to compensate for
inflationary increases in decommissioning costs.  However the
equity securities in the trusts are exposed to price fluctuations
in equity markets, and the value of fixed rate fixed income
securities are exposed to changes in interest rates.  Investment
performance and asset allocation are periodically reviewed.  A
hypothetical increase in interest rates resulting in a
hypothetical 10% decrease in the value of the fixed income
securities would have resulted in a $3 million reduction in the
value of the decommissioning trust funds.  A hypothetical 10%
decrease in equity prices would have resulted in a $2 million
reduction in the fair value of the equity securities as of June
30, 2000.

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<PAGE>

PART II - OTHER INFORMATION

Item 1.  Legal Proceedings.

     Discrimination Claims.  Three law firms joined together
and filed eight cases representing a number of plaintiffs
alleging race discrimination and hostile work environment
against KCPL in the United States District Court, Western
District of Missouri.  The first of these cases was tried
during the second quarter of 2000.  Although the outcome was
unfavorable to the Company, it was not in an amount which was
material to results of operations.  Two of theses cases,
Patricia S. Lang, on behalf of herself and all others
similarly situated v. Kansas City Power & Light Company, and
Carlos Salazar, et al. v. Kansas City Power & Light Company,
were previously disclosed in the Company's report on
Form 10-K for the period ended December 31, 1999.

     In the Patricia S. Lang case, plaintiff seeks to bring a
claim of race discrimination as a class action on behalf of
herself and all other current and former African American
employees from May 11, 1994 to the present.  The complaint
alleges that plaintiff and members of the proposed class are
subjected to a hostile and offensive working environment,
denied promotional opportunities, compensated less than
similarly situated or less qualified Caucasian employees, and
are disciplined and/or terminated when they complain of
racially discriminatory practices at KCPL.  The complaint
seeks a money award for alleged lost wages and fringe
benefits, alleged wage differentials, as well as punitive
damages, attorneys fees and costs of the action together with
an injunction prohibiting KCPL from retaliating against
anyone participating in the litigation and continuing
monitoring of KCPL's compliance with anti-discrimination
laws.  Additional plaintiffs were added to the case during
the second quarter.  It is not possible at this time to
evaluate the materiality of the relief sought.  We believe,
however, that we will be able to successfully defend the
certification of any class action.  In the Carlos Salazar
case, the request for class action certification has been
withdrawn.

     Management intends to vigorously defend the remainder of
these cases, but it is possible that the total costs
(including legal costs) associated with these cases and
potential related unasserted claims could be in an amount
material to the Company's financial condition or results of
operations.

Item 6.  Exhibits and Reports on Form 8-K.

EXHIBITS

Exhibit 10    Second Amended and Restated Credit Agreement
              among KLT Inc., Bank One, NA, as Agent,
              Commerzbank Aktiengesellschaft, New York and
              Grand Cayman Branches, as Syndication Agent,
              Westdeutsche Landesbank Girozentrale, New York
              Branch, as Documentation Agent, and Various
              Lenders, dated June 30, 2000

Exhibit 27    Financial Data Schedule (for the six months ended
              June 30, 2000)

REPORTS ON FORM 8-K

     No reports on Form 8-K were filed for the six months
ended June 30, 2000.


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<PAGE>
                        SIGNATURES

     Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned thereunto duly
authorized.

                         KANSAS CITY POWER & LIGHT COMPANY

Dated:  August 4, 2000   By:  /s/Drue Jennings
                                (Drue Jennings)
                                (Chief Executive Officer)


Dated:  August 4, 2000   By: /s/Neil Roadman
                               (Neil Roadman)
                               (Principal Accounting Officer)