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 March 31, 1998
                                   
                                  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
May 4, 1998, was 61,872,915 shares.

<PAGE>

PART I - FINANCIAL INFORMATION
ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS

KANSAS CITY POWER & LIGHT COMPANY
CONSOLIDATED BALANCE SHEETS

                                                      March 31     December 31
                                                        1998          1997
                                                             (thousands)
ASSETS
UTILITY PLANT, at original cost
 Electric                                             $3,517,951    $3,502,796
 Less-accumulated depreciation                         1,340,860     1,314,154
    Net utility plant in service                       2,177,091     2,188,642
 Construction work in progress                            99,741        93,264
 Nuclear fuel, net of amortization of
   $91,240 and $86,516                                    37,107        41,649
    Total                                              2,313,939     2,323,555

REGULATORY ASSET - RECOVERABLE TAXES                     123,000       123,000

INVESTMENTS AND NONUTILITY PROPERTY                      366,821       345,126

CURRENT ASSETS
 Cash and cash equivalents                                19,566        74,098
 Electric customer accounts receivable, net of
    allowance for doubtful accounts
    of $1,454 and $1,941                                  20,722        28,741
 Other receivables                                        31,673        33,492
 Fuel inventories, at average cost                        16,001        13,824
 Materials and supplies, at average cost                  45,856        46,579
 Deferred income taxes                                     1,658           648
 Other                                                     7,166         7,155
    Total                                                142,642       204,537

DEFERRED CHARGES
 Regulatory assets                                        28,751        30,017
 Other deferred charges                                   31,099        31,798
    Total                                                 59,850        61,815

    Total                                             $3,006,252    $3,058,033


CAPITALIZATION AND LIABILITIES
CAPITALIZATION (see statements)                       $2,049,307    $2,051,489
CURRENT LIABILITIES
 Notes payable to banks                                    1,495         1,243
 Commercial paper                                          2,000             0
 Current maturities of long-term debt                     23,168        74,180
 Accounts payable                                         40,305        57,568
 Accrued taxes                                            13,626         1,672
 Accrued interest                                         20,663        22,360
 Accrued payroll and vacations                            24,021        23,409
 Accrued refueling outage costs                            4,259         1,664
 Other                                                    17,926        15,068
     Total                                               147,463       197,164

DEFERRED CREDITS AND OTHER LIABILITIES
 Deferred income taxes                                   640,671       638,679
 Deferred investment tax credits                          62,128        63,257
 Other                                                   106,683       107,444
    Total                                                809,482       809,380

COMMITMENTS AND CONTINGENCIES

   Total                                              $3,006,252    $3,058,033

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

                                                      March 31     December 31
                                                        1998          1997
                                                     (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)                      416,678       428,452
 Unrealized gain on securities available for sale          4,122         1,935
 Capital stock premium and expense                        (1,664)       (1,664)
          Total                                          868,833       878,420
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
 No Par Value
   4.375%* - 500,000 shares issued                        50,000        50,000
 $100 Par Value - Redeemable
   4.00%                                                      62            62
          Total                                           89,062        89,062
COMPANY-OBLIGATED MANDATORILY REDEEMABLE PREFERRED
SECURITIES OF SUBSIDIARY TRUST HOLDING SOLELY KCPL
SUBORDINATED DEBENTURES                                  150,000       150,000

LONG-TERM DEBT (excluding current maturities)
 General Mortgage Bonds
    Medium-Term Notes due 1998-2008, 6.92% and
       6.92% weighted-average rate                       407,500       407,500
    3.98%* Environmental Improvement Revenue
       Refunding Bonds due 2012-23                       158,768       158,768
 Guaranty of Pollution Control Bonds
    3.94%* due 2015-17                                   196,500       196,500
 Subsidiary Obligations
    Affordable Housing Notes due 2000-06, 8.34%
       and 8.48% weighted-average rate                    68,612        61,207
    Bank Credit Agreement due 1999, 6.51% and
       6.67% weighted-average rate                       107,500       107,500
    Other Long-Term Notes                                  2,532         2,532
          Total                                          941,412       934,007
          Total                                       $2,049,307    $2,051,489

*  Variable rate securities, weighted-average rate as of March 31, 1998

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 March 31                 1998          1997
                                                (thousands)
ELECTRIC OPERATING REVENUES                 $195,635      $194,744

OPERATING EXPENSES
 Operation
   Fuel                                       35,697        34,922
   Purchased power                             8,231        11,246
   Other                                      47,003        43,923
 Maintenance                                  15,738        16,816
 Depreciation                                 28,631        27,842
 Income taxes                                  8,237         8,530
 General taxes                                22,168        22,692
 Deferred Wolf Creek costs amortization            0           684
    Total                                    165,705       166,655

OPERATING INCOME                              29,930        28,089

OTHER INCOME AND (DEDUCTIONS)
 Allowance for equity funds
  used during construction                       933           260
 Miscellaneous income                         13,223         3,893
 Miscellaneous deductions                    (20,900)      (62,161)
 Income taxes                                  9,747        30,233
    Total                                      3,003       (27,775)


INCOME BEFORE INTEREST CHARGES                32,933           314

INTEREST CHARGES
 Long-term debt                               14,939        14,516
 Short-term debt                                  91           839
 Miscellaneous                                 4,190           875
 Allowance for borrowed funds
  used during construction                      (653)         (784)
    Total                                     18,567        15,446

 Net Income (Loss)                            14,366       (15,132)
 Preferred Stock
  Dividend Requirements                          990           955
 Earnings (Loss) Available for
  Common Stock                               $13,376      ($16,087)

Average Number of Common
 Shares Outstanding                           61,873        61,896
Basic and Diluted earnings (loss)
 per Common Share                              $0.22        ($0.26)
Cash Dividends per
 Common Share                                 $0.405        $0.405

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



Twelve Months Ended March 31                1998          1997
                                                (thousands)
ELECTRIC OPERATING REVENUES                 $896,834      $892,039

OPERATING EXPENSES
 Operation
   Fuel                                      135,284       144,654
   Purchased power                            56,232        49,716
   Other                                     194,977       181,143
 Maintenance                                  69,814        70,282
 Depreciation                                111,687       107,038
 Income taxes                                 70,820        63,272
 General taxes                                92,773        95,579
 Deferred Wolf Creek costs amortization          684         9,397
    Total                                    732,271       721,081

OPERATING INCOME                             164,563       170,958

OTHER INCOME AND (DEDUCTIONS)
 Allowance for equity funds
  used during construction                     3,080         1,968
 Miscellaneous income                         48,351         7,995
 Miscellaneous deductions                    (77,181)     (113,548)
 Income taxes                                 42,548        60,414
    Total                                     16,798       (43,171)

INCOME BEFORE INTEREST CHARGES               181,361       127,787

INTEREST CHARGES
 Long-term debt                               60,721        55,031
 Short-term debt                                 634         1,972
 Miscellaneous                                16,158         4,609
 Allowance for borrowed funds
  used during construction                    (2,210)       (2,341)
    Total                                     75,303        59,271

 Net Income (Loss)                           106,058        68,516
 Preferred Stock
  Dividend Requirements                        3,824         3,788
 Earnings (Loss) Available for
  Common Stock                              $102,234       $64,728

Average Number of Common
 Shares Outstanding                           61,889        61,900
Basic and Diluted earnings (loss)
 per Common Share                              $1.65         $1.05
Cash Dividends per
 Common Share                                  $1.62        $1.605

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

                                4

<PAGE>

KANSAS CITY POWER & LIGHT COMPANY
CONSOLIDATED STATEMENTS OF CASH FLOWS



Year to Date March 31                          1998        1997
                                                  (thousands)

CASH FLOWS FROM OPERATING ACTIVITIES
 Net income (loss)                          $   14,366  $  (15,132)
 Adjustments to reconcile net income
  to net cash from operating activities:
 Depreciation                                   28,631      27,842
 Amortization of:
  Nuclear fuel                                   4,724       5,115
  Deferred Wolf Creek costs                          0         684
  Other                                          2,272       1,362
 Deferred income taxes (net)                      (258)     (2,885)
 Investment tax credit
   amortization and reversals                   (1,129)     (1,056)
 Deferred merger costs                               0      (4,787)
 Kansas rate refund accrual                      3,165           0
 Allowance for equity funds used
   during construction                            (933)       (260)
 Other operating activities (Note 2)             5,327        (799)

  Net cash from operating activities            56,165      10,084

CASH FLOWS FROM INVESTING ACTIVITIES
 Utility capital expenditures                  (22,487)    (27,402)
 Allowance for borrowed funds used
   during construction                            (653)       (784)
 Purchases of investments                      (19,230)    (77,241)
 Purchases of nonutility property               (2,794)     (1,611)
 Other investing activities                      2,884      (4,397)

  Net cash from investing activities           (42,280)   (111,435)

CASH FLOWS FROM FINANCING ACTIVITIES
 Issuance of long-term debt                      7,404      32,000
 Repayment of long-term debt                   (51,011)     (6,500)
 Net change in short-term borrowings             2,252     102,361
 Dividends paid                                (26,140)    (26,028)
 Other financing activities                       (922)      1,059

  Net cash from financing activities           (68,417)    102,892

NET CHANGE IN CASH AND CASH
      EQUIVALENTS                              (54,532)      1,541
CASH AND CASH EQUIVALENTS
      AT BEGINNING OF YEAR                      74,098      23,571
CASH AND CASH EQUIVALENTS
     AT END OF PERIOD                          $19,566     $25,112

CASH PAID DURING THE PERIOD FOR:
Interest (net of amount capitalized)           $20,380     $17,019
Income taxes                                        $0          $0

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



Twelve Months Ended March 31                   1998        1997
                                                  (thousands)

CASH FLOWS FROM OPERATING ACTIVITIES
 Net income (loss)                          $  106,058  $   68,516
 Adjustments to reconcile net income
  to net cash from operating activities:
 Depreciation                                  111,687     107,038
 Amortization of:
  Nuclear fuel                                  16,445      20,012
  Deferred Wolf Creek costs                        684       9,397
  Other                                          9,133       5,460
 Deferred income taxes (net)                     7,407     (17,278)
 Investment tax credit
   amortization and reversals                   (3,923)     (4,195)
 Deferred storm costs                                0      (8,885)
 Deferred merger costs                           4,787         596
 Kansas rate refund accrual                      3,165           0
 Allowance for equity funds used
   during construction                          (3,080)     (1,968)
 Other operating activities (Note 2)             2,202     (23,825)

  Net cash from operating activities           254,565     154,868

CASH FLOWS FROM INVESTING ACTIVITIES
 Utility capital expenditures                 (119,819)    (98,800)
 Allowance for borrowed funds used
   during construction                          (2,210)     (2,341)
 Purchases of investments                      (49,592)    (95,014)
 Purchases of nonutility property              (16,916)    (22,006)
 Sale of streetlights                           21,500           0
 Other investing activities                     (1,621)     (3,524)

  Net cash from investing activities          (168,658)   (221,685)

CASH FLOWS FROM FINANCING ACTIVITIES
 Issuance of mandatorily redeemable
   Preferred Securities                        150,000           0
 Issuance of long-term debt                     41,696     155,614
 Repayment of long-term debt                   (73,343)    (80,730)
 Net change in short-term borrowings           (98,866)     92,361
 Dividends paid                               (104,154)   (103,119)
 Other financing activities                     (6,786)       (946)

  Net cash from financing activities           (91,453)     63,180

NET CHANGE IN CASH AND CASH
      EQUIVALENTS                               (5,546)     (3,637)
CASH AND CASH EQUIVALENTS
      AT BEGINNING OF PERIOD                    25,112      28,749
CASH AND CASH EQUIVALENTS
     AT END OF PERIOD                          $19,566     $25,112

CASH PAID DURING THE PERIOD FOR:
Interest (net of amount capitalized)           $74,633     $60,514
Income taxes                                   $22,385     $53,272

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

                                6

<PAGE>
<TABLE>
KANSAS CITY POWER & LIGHT COMPANY
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME


                                             Three Months Ended        Twelve Months Ended
                                               March 31                  March 31
                                                 1998         1997         1998         1997
                                                                 (thousands)
<S>                                           <C>          <C>          <C>          <C>                      
Net income (loss)                             $  14,366    $ (15,132)   $ 106,058    $  68,516

Other comprehensive income (loss),
   net of tax: (Note 3)
     Net unrealized gain (loss) on
      securities available for sale               2,187       (4,803)       2,441        1,681

Comprehensive Income (Loss)                      16,553      (19,935)     108,499       70,197

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

</TABLE>


<TABLE>

CONSOLIDATED STATEMENTS OF RETAINED EARNINGS


                                             Three Months Ended        Twelve Months Ended
                                               March 31                  March 31
                                                 1998         1997         1998         1997
                                              (thousands)
<S>                                           <C>          <C>          <C>          <C>
Beginning Balance                             $ 428,452    $ 455,934    $ 414,774    $ 449,377
Net Income (Loss)                                14,366      (15,132)     106,058       68,516
                                                442,818      440,802      520,832      517,893
Dividends Declared
  Preferred stock - at required rates             1,081          960        3,894        3,772
  Common stock                                   25,059       25,068      100,260       99,347
Ending Balance                                 $416,678     $414,774     $416,678     $414,774

The accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
</TABLE>

                                7

<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 a statement is made.  In connection
with  the  safe harbor provisions of the Private Securities Litigation
Reform  Act of 1995, we are providing the following important  factors
that  could  cause actual results to differ materially  from  provided
forward-looking information.  These important factors include: (a) the
Western Resources Inc. (Western Resources) merger (see Note 1  to  the
Consolidated Financial Statements); (b) future economic conditions  in
the  regional, national and international markets; (c) state,  federal
and foreign regulation and possible additional reductions in regulated
electric   rates;   (d)  weather  conditions;  (e)  financial   market
conditions,  including, but not limited to changes in interest  rates;
(f)  inflation  rates; (g) increased competition, including,  but  not
limited  to,  the  deregulation of the United States electric  utility
industry,  and the entry of new competitors; (h) ability to carry  out
marketing and sales plans; (i ) ability to achieve generation planning
goals  and the occurrence of unplanned generation outages; (j) nuclear
operations;  (k)  ability  to  enter  new  markets  successfully   and
capitalize on growth opportunities in nonregulated businesses, and (l)
adverse  changes  in applicable laws, regulations or  rules  governing
environmental,  tax or accounting matters.  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 1997 annual report on Form 10-K.

1.  AMENDED AND RESTATED PLAN OF MERGER WITH  WESTERN RESOURCES

        Western  Resources,  Inc.  (Western  Resources)  delivered  an
unsolicited  exchange offer and an amended offer to  KCPL's  Board  of
Directors   during  the  second  quarter  of  1996.    After   careful
consideration,  KCPL's Board of Directors rejected  both  offers.   In
July  1996  Western  Resources commenced an exchange  offer  for  KCPL
Common  Stock.   In late 1996 KCPL began discussing a possible  merger
with Western Resources leading to a February 7, 1997, agreement.

      In  December 1997 KCPL canceled its previously scheduled special
meeting  of  shareholders to vote on the transaction  because  Western
Resources  advised  KCPL  that its investment bankers,  Salomon  Smith
Barney, had indicated that it was unlikely that Salomon would be in  a
position to issue a fairness opinion for the merger transaction on the
basis  of  the February 7, 1997, agreement. During 1997 KCPL  incurred
and deferred $7 million of merger-related costs which were expensed in
December 1997.

      On  March 18, 1998, KCPL and Western Resources entered  into  an
Amended and Restated Agreement and Plan of Merger (Amended Agreement).
This  Amended Agreement provides for the combination of  the regulated
electric utilities of KCPL and Western Resources into Westar Energy, a
new  company, using purchase accounting.  Westar Energy will be  owned
approximately  80.1% by Western Resources and approximately  19.9%  by
KCPL  shareholders.  At closing, KCPL shareholders  will  receive  for
every  share  of KCPL Common Stock one share of Westar  Energy  Common
Stock  and  a  fraction of a share of Western Resources  Common  Stock
valued  at $23.50 if 

                                8

<PAGE>

the Western Resources Index Price (aggregate  of
the  average  high  and low sales prices of  Western Resources  Common
Stock  over a 20-day trading period ending the tenth trading day prior
to  closing)  is  not  greater than $47.00 or less  than  $38.28.   If
Western  Resources  Index Price is above $47.00 or below  $38.28,  the
value  of  the  Western Resources Common Stock to be  issued  to  KCPL
shareholders  in the merger  is subject to a collar and will  increase
or  decrease,  respectively.   The value per share  of  Westar  Energy
Common Stock to be issued to KCPL shareholders in connection with  the
contemplated transactions is estimated to be in the range  of  $10  to
$12 per share based on current market conditions.  Since Westar Energy
will be a newly formed entity with no trading history, there can be no
assurance that Westar Energy will trade at such levels.

      The  transaction  is  subject  to  several  closing  conditions,
including  approval  by  each company's shareholders,  approval  by  a
number  of  regulatory  and governmental agencies,  confirmation  from
Kansas  tax  authorities  that no sales  or  use  tax  is  payable  in
connection  with the proposed transactions and dissenting KCPL  common
shares constitute less than 5.5% of outstanding shares. If shareholder
approval is not received by both companies by August 31, 1998,  either
party may terminate the Amended Agreement.  If the merger has not been
closed  by  December 31, 1999, either party may terminate the  Amended
Agreement as long as they did not contribute to the delay. If  Western
Resources  Index  Price is less than or equal to $29.78  five  trading
days  prior  to  closing,  either party  can  terminate  this  Amended
Agreement.

      The  Amended Agreement allows the KCPL Board discretion to  make
changes  (including  increases)  in the  KCPL  Common  Stock  dividend
consistent  with past practice exercising good business judgment.   It
also  requires  KCPL  to redeem all outstanding shares  of  cumulative
preferred stock prior to consummation of the proposed transactions. If
the  Amended Agreement is terminated under certain other circumstances
and  KCPL, within two and one-half years following termination, agrees
to  consummate a business combination with a third party that  made  a
proposal  to  combine prior to termination, a payment of  $50  million
will  be due Western Resources.  Under certain circumstances, if  KCPL
determines not to consummate its merger into Westar Energy due to  its
inability  to receive a favorable tax opinion from its legal  counsel,
it  must pay Western Resources $5 million.  Western Resources will pay
KCPL  $5 million to $35 million if the Amended Agreement is terminated
and  all  closing  conditions  are  satisfied  other  than  conditions
relating  to Western Resources receiving a favorable tax opinion  from
its  legal counsel, favorable statutory approvals or an exemption from
the Public Utility Holding Company Act of 1935.

2.  CONSOLIDATED STATEMENTS OF CASH FLOWS - OTHER OPERATING ACTIVITIES

                                     Three Months     Twelve Months
                                        Ended             Ended
                                     1998    1997     1998    1997
Cash flows affected by changes               (thousands)
in:
    Receivables                    $9,838 $25,895 $(15,084)  $9,547
    Fuel inventories               (2,177)  1,360    1,716     (697)
    Materials and supplies            723      37    1,441   (1,625)
    Accounts payable              (17,263)(18,873)   3,560  (15,296)
    Accrued taxes                  11,954  (7,356)   2,539  (30,182)
    Accrued interest               (1,697) (1,191)     800   (1,928)
    Wolf Creek refueling outage     
      accrual                       2,595   2,099   (5,021)   8,723
    Pension and postretirement     
      benefit obligations          (1,549)   (532)  (3,262)     (97)
Other                               2,903  (2,238)  15,513    7,730
            Total                  $5,327  $ (799)  $2,202 $(23,825)

                                9

<PAGE>

3.  ACCOUNTING CHANGES

Change in Accounting Estimate

      In  1998 KCPL adopted the American Institute of Certified Public
Accountants  Statement of Position (SOP) 98-1 --  Accounting  for  the
Costs  of  Computer Software Developed or Obtained For  Internal  Use.
KCPL  was generally in conformance with this SOP prior to adoption  in
regards  to external direct costs and interest costs incurred  in  the
development  of  computer software for internal use.   This  SOP  also
provides  that once the capitalization criteria of the SOP  have  been
met,  payroll and payroll-related costs for employees who are directly
associated  with  and  who  devote time to the  internal-use  computer
software project should be capitalized.

      Costs  capitalized in accordance with SOP 98-1 will be amortized
on  a  straight-line basis over estimated service lives  of  5  to  10
years.   The  effect  of adopting SOP 98-1 for the three-months  ended
March 31, 1998, is an increase of net income of approximately $600,000
($0.01 per share).

Comprehensive Income (Loss)

      In  1998  KCPL  adopted  Financial  Accounting  Standards  Board
Statement  No. 130 -- Reporting Comprehensive Income which establishes
standards for reporting of comprehensive income and its components.

4.  SECURITIES AVAILABLE FOR SALE

      Certain  investments in equity securities are accounted  for  as
securities  available  for  sale and adjusted  to  market  value  with
unrealized  gains (or losses), net of deferred income taxes,  reported
as  a  separate  component of comprehensive income  and  common  stock
equity.

      KLT  Inc.  (KLT), a wholly-owned subsidiary of KCPL,  has  a  $5
million  investment in CellNet Data Systems, Inc.  This investment  is
held as securities available for sale.  Unrealized gains applicable to
this  investment of $4.1 million, net of $2.3 million deferred  income
taxes,  at  March 31, 1998, increased from $1.9 million, net  of  $1.1
million deferred income taxes, at December 31, 1997.

5.  CAPITALIZATION

      KCPL  is  authorized  to issue up to $300 million  in  unsecured
medium-term  notes under an indenture dated December 1, 1996.   As  of
March 31, 1998, no unsecured medium-term notes had been issued.

      KCPL  Financing I (Trust), a wholly-owned subsidiary  of  Kansas
City Power & Light Company, 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.

                                10

<PAGE>

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


STATUS OF MERGER

      See  Note 1 to the Consolidated Financial Statements as  to  the
current  status  of the merger agreement with Western  Resources  Inc.
(Western  Resources) including the Amended and Restated Agreement  and
Plan  of  Merger (Amended Merger Agreement) dated March 18, 1998.   In
December 1996 the Federal Energy Regulatory Commission (FERC) issued a
statement  concerning electric utility mergers.  Under the  statement,
companies must demonstrate that their merger does not adversely affect
competition  or  wholesale rates.  As remedies, FERC  may  consider  a
range  of conditions including transmission upgrades, divestitures  of
generating assets or formation of independent system operators.

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 improving the efficiency of KCPL's  core
utility  operations, lowering prices and offering  new  services.   In
particular,  value-added services for large energy users  can  include
contracts for natural gas commodities.

     Competition in the electric utility industry was accelerated with
the  National  Energy Policy Act of 1992.  This  Act  gives  FERC  the
authority  to require electric utilities to provide transmission  line
access  to  independent  power producers (IPPs)  and  other  utilities
(wholesale wheeling).  KCPL, already active in the wholesale  wheeling
market,  was one of the first utilities to receive FERC's approval  of
an  open-access tariff for wholesale wheeling transactions.  In  April
1996  FERC  issued  an  order  requiring all  owners  of  transmission
facilities  to adopt open-access tariffs and participate in  wholesale
wheeling.   We  have made the necessary filings to  comply  with  that
order.

      FERC's  April  1996  order has encouraged more  movement  toward
retail  competition at the state level. 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   are   actively
considering  retail  wheeling.  In Kansas, the  retail  wheeling  task
force  has  proposed a restructuring bill that would implement  retail
competition on July 1, 2001.  Some of the key points included  in  the
proposed  bill  are: 1) the Kansas Corporation Commission  (KCC)  will
determine  the amount of under-utilized assets (stranded  costs)  each
utility  is  allowed to recover and 2) a unit charge per kwh  will  be
assessed to all customers for recovery of competitive transition costs
(these  costs include stranded costs, other regulatory assets, nuclear
decommissioning, etc.).  No retail wheeling bill has  been  passed  in
the  Kansas legislature in 1998.  In Missouri, a legislative committee
has  been  formed to study the issue.  The retail wheeling task  force
formed  by  the Missouri Public Service Commission (MPSC)  issued  its
report  in May 1998.  The report identifies issues and various options
for the legislature to address.

      Competition through retail wheeling could result in market-based
rates  below  current  cost-based rates.  This  would  provide  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.  Testimony filed in the merger case in Kansas  for  KCPL
indicated  that  stranded  costs are  approximately  $1  billion.   An
independent  study prepared at the request of the KCC  concluded  that
there  are  no  stranded  costs.  We cannot predict  the  extent  that
stranded  costs

                                11

<PAGE>

will be recoverable in future rates.  If  an  adequate
and  fair  provision  for  recovery of  these  lost  revenues  is  not
provided,  certain  generating assets may have  to  be  evaluated  for
impairment  and  appropriate charges recorded  against  earnings.   In
addition  to  lower  profit  margins, market-based  rates  could  also
require generating assets to be depreciated over shorter useful lives,
increasing operating expenses.

      Although  Missouri  and Kansas have not  yet  authorized  retail
wheeling,  we believe KCPL is positioned well to compete  in  an  open
market  with  its diverse customer mix and pricing strategies.   About
21%  of  KCPL's retail mwh sales are to industrial customers which  is
below  the  utility  industry  average.   KCPL  has  a  flexible  rate
structure  with  industrial rates that are competitively  priced  with
other  companies in the region.  In addition, long-term contracts  are
in place or under negotiation for a large portion of KCPL's industrial
sales.   Although there currently is no direct competition for  retail
electric service within KCPL's service territory, it does exist within
the  bulk  power market, between alternative fuel suppliers and  among
third-party   energy   management   companies.    Third-party   energy
management companies are seeking to initiate relationships with  large
users  in  an  attempt  to enhance their chances  to  directly  supply
electricity if 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.   An entity's operations could  stop  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's regulatory assets, totaling $152 million at March
31, 1998, will be maintained as long as FASB 71 requirements are met.

       It  is  possible  that  competition  could  eventually  have  a
materially  adverse  affect  on  KCPL's  results  of  operations   and
financial  position.   Should  competition  eventually  result  in   a
significant  charge  to equity, capital costs and  requirements  could
increase significantly.

NONREGULATED OPPORTUNITIES

     KLT Inc. (KLT) is a wholly-owned subsidiary pursuing nonregulated
business  ventures.  Existing ventures include investments in domestic
and  international nonregulated power production, energy services, oil
and  gas  development  and  production, telecommunications,  telemetry
technology and affordable housing limited partnerships.

      KCPL had a total equity investment in KLT of $119 million as  of
March  31, 1998, and KLT's net income for the three-month period ended
March  31,  1998, totaled $4.1 million.  KLT's consolidated assets  at
March 31, 1998, totaled $351 million.  The growth of KLT accounts  for
most of the increase in KCPL's consolidated investments and nonutility
property.

RESULTS OF OPERATIONS

Three-month         three  months  ended March 31, 1998,  compared
period:             with three months ended March 31, 1997
                    
Twelve-month        twelve  months ended March 31, 1998,  compared
period:             with twelve months ended March 31, 1997

                                12

<PAGE>

EARNINGS OVERVIEW

                   Earnings Per Share (EPS)
                 For the Periods Ended March 31
                                                   Increase(decrease)
                                          Merger       excluding
                  1998    1997  Increase  Expenses   Merger Expenses
Three months     $0.22  $(0.26)  $0.48    $0.43        $ 0.05
  ended                      
Twelve months    $1.65  $ 1.05   $0.60    $0.67        $(0.07)
  ended

       EPS  for  the  three-month  period  excluding  merger  expenses
increased primarily due to increased subsidiary income $0.04,  reduced
cost  of  fuel  $0.02, increased bulk power sales and  continued  load
growth.  Partially offsetting these increases were the effects on  EPS
of  implementing rate reductions approved by the KCC effective January
1,   1998,  ($0.03),  increased  interest  expense  related   to   the
mandatorily  redeemable  preferred  securities  ($0.03)   and   milder
weather.

      EPS  for  the  twelve-month  period  excluding  merger  expenses
decreased due to the implementation of rate reductions approved by the
KCC  ($0.03), the effect of the rate reductions approved by  the  MPSC
($0.06),   increased  interest  expense  related  to  the  mandatorily
redeemable  preferred  securities ($0.12) and  increased  depreciation
expense ($0.05).  Partially offsetting these decreases are the effects
on  EPS  of  an  increase in subsidiary income $0.14,  a  decrease  in
amortization expense $0.09 and continued load growth.

      Merger expenses for the three-months ended March 31, 1998,  were
$5.3  million ($0.09 per share).  During the three-months ended  March
31,  1997, KCPL paid $53 million ($0.52 per share) to UtiliCorp United
Inc.  (UtiliCorp) for terminating the merger agreement with  UtiliCorp
and announcing an agreement to combine with Western Resources.  Merger
expenses  for the twelve-months ended March 31, 1998, reduced  EPS  by
$0.16.   For  the twelve-months ended March 31, 1997, merger  expenses
reduced  EPS  by $0.83 which includes $0.52 for the UtiliCorp  payment
and $0.31 for other merger expenses.

                                13

<PAGE>

MEGAWATT-HOUR (MWH) SALES AND OPERATING REVENUES

Sales and revenue data:


                              For the Periods Ended 
                        March 31, 1998 versus March 31, 1997
                        ------------------------------------
                         Three Months      Twelve Months
                        ---------------   ----------------
                         Mwh  Revenues    Mwh    Revenues
                        ----  ---------   ---   ----------
                           (revenue change in millions)
Retail:
  Residential             1 %  $    1      5 %    $   13
  Commercial              3 %       2      5 %        10
  Industrial              1 %       -     (3)%        (1)
  Other                   - %      (2)     2 %        (5)
  Kansas rate 
    refund accrual                 (3)                (3)
                              ---------         ----------   
     Total Retail         2 %      (2)     3 %        14
Sales for resale:
  Bulk power sales       13 %       3    (22)%       (12)
  Other                   8 %       -     14 %         1
                              ---------         ---------- 
    Total                           1                  3
  Other revenues                    -                  2
                              ---------         ----------
    Total electric
    Operating Revenues         $    1             $   5
                              ---------         ----------
                              ---------         ----------


      The  KCC approved a settlement agreement, effective January,  1,
1998, authorizing a $14.2 million revenue reduction and an increase in
depreciation  expense of $2.8 million.  When the KCC  approves  a  new
rate design, which is anticipated near year-end 1998, KCPL will refund
the  portion of the $14.2 million that has accrued between January  1,
1998  and  the  implementation date of the new rate design.   Recorded
revenues for the three- and twelve-month periods are reduced by  about
$3 million as a result of an accrual for this rate refund.

      During  1996  the  MPSC  approved a  stipulation  and  agreement
authorizing  a  $20  million revenue reduction in two  phases  and  an
increase  in  depreciation and amortization expense by $9 million  per
year.   The  decrease  in revenues for the twelve-month  period  as  a
result of this stipulation and agreement was about $6 million.

      These  rate  reductions, combined with seasonally  lower  retail
sales in March 1998 versus December 1997, resulted in a lower accounts
receivable balance at March 31, 1998, compared with December 31, 1997.

     Even though weather was milder for the three-month period, retail
mwh  sales  increased  due to load growth.  Load  growth  consists  of
higher usage-per-customer as well as the addition of new customers.

     Retail mwh sales for the current twelve-month period increased 3%
while  retail revenues increased 2%.  The MPSC and KCC rate reductions
discussed  above decreased revenues for the twelve-month period  while
retail mwh sales increased due to continued load growth.

                                14

<PAGE>

     KCPL  has long-term sales contracts with certain major industrial
customers.  These contracts are tailored to meet customers'  needs  in
exchange for their long-term commitment to purchase energy.  Long-term
contracts  are  in place or under negotiation for a large  portion  of
KCPL's industrial sales.

      Bulk power sales vary with system requirements, generating  unit
and  purchased power availability, fuel costs and the requirements  of
other  electric  systems.  Outages at the LaCygne 1 and  2  generating
units  in the second quarter of 1997 and the extended 1997 Wolf  Creek
outage contributed to lower bulk power mwh sales in the current twelve-
month period.

      Total  revenue per mwh sold varies with changes in rate tariffs,
the mix of mwh sales among customer classifications and the effect  of
declining  price  per  mwh  as  usage increases.   An  automatic  fuel
adjustment  provision is only included in sales  for  resale  tariffs,
which apply to less than 1% of revenues.

      Future  mwh sales and revenues per mwh will also be affected  by
national  and  local  economies,  weather  and  customer  conservation
efforts.  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

      Combined  fuel and purchased power expenses for the  three-month
period  decreased  by 5% while total mwh sales (total  of  retail  and
sales  for  resale)  increased  by 5%.   This  difference  is  largely
attributable to increased generation from LaCygne II, a low-cost, coal-
fired generating unit that was not available during February and March
1997 because of a planned outage.  Purchased power decreased primarily
because of this additional generation.  The cost per kwh for purchased
power is significantly higher than the cost per kwh of generation.

      Combined  fuel and purchased power expenses for the twelve-month
period  decreased  1%  while  total  mwh  sales  decreased  3%.   This
difference is largely due to increased purchased power expenses and  a
higher percentage of coal burned in the fuel mix.

      Nuclear fuel costs per MMBTU remain substantially less than  the
MMBTU  price of coal.  Nuclear fuel costs per MMBTU decreased  2%  for
the twelve-month period.  Nuclear fuel costs per MMBTU averaged 61% of
the  MMBTU  price  of  coal  for the current  and  prior  twelve-month
periods.  We expect the current relationship and the price of  nuclear
fuel  to  remain  fairly constant through the year 2001.   During  the
current  twelve-month period fossil plants represented  about  75%  of
generation  and  the nuclear plant about 25%.  For the  prior  twelve-
month  period,  fossil plants represented about 72% of generation  and
the nuclear plant about 28%.

      The  price  of  coal burned declined by 2% for the  twelve-month
period.   KCPL's coal procurement strategies continue to provide  coal
costs  below  the regional average.  We expect the cost  of  coal  per
MMBTU to remain fairly constant through 2001.

OTHER OPERATION AND MAINTENANCE EXPENSES

      Combined other operation and maintenance expenses for the three-
and  twelve-month periods increased due largely to increases in  other
power  supply  expenses  and annual employee  salary  increases.   The
twelve-month  period  also  reflects increases  in  customer  accounts
expenses and Wolf Creek non-fuel operations.

                                15

<PAGE>

       We  continue  to  emphasize  new  technologies,  improved  work
methodology  and cost control.  We are improving system  processes  to
provide  increased efficiencies and improved operations.  Through  the
use  of  cellular technology, a majority of customer meters  are  read
automatically.

DEPRECIATION AND AMORTIZATION

      The  increase in depreciation expense for the three- and twelve-
month  periods  reflects  the implementation  of  the  KCC  settlement
agreement, the continued impact of the MPSC stipulation and  agreement
and  normal increases in depreciation from capital additions.  The KCC
settlement  agreement  authorized an annual increase  in  depreciation
expense   of  $2.8  million.   The  MPSC  stipulation  and   agreement
authorized a $9 million annual increase in depreciation expense.

INCOME TAXES

      Operating income taxes for the twelve-month period increased  by
approximately  $8  million as the prior twelve-month period  reflected
adjustments for the filing of the 1995 tax returns and the  settlement
with the Internal Revenue Service regarding tax issues included in the
1985 through 1990 tax returns.

OTHER INCOME AND (DEDUCTIONS)

     Miscellaneous Income
     Miscellaneous  income  for  the three- and  twelve-month  periods
     includes  increased  revenues  from  non-utility  and  subsidiary
     operations.    Dividends  on  the  investment  in  a  fossil-fuel
     generator  in Argentina, revenues from a subsidiary in which  KLT
     obtained   a  controlling  interest  during  1997  and  increased
     revenues from oil and gas exploration contributed to the increase
     in miscellaneous income from subsidiary operations.

     Miscellaneous Deductions
     Miscellaneous deductions for the three- and twelve-month  periods
     decreased  primarily due to the $53 million payment to  UtiliCorp
     in  the  prior periods.  During the three-months ended March  31,
     1998, $5 million of merger expenses were incurred related to  the
     Amended  Merger Agreement with Western Resources.   In  addition,
     the  twelve-months ended March 31, 1998, includes $7  million  of
     merger  expenses  related to the original merger  agreement  with
     Western  Resources.   In addition to the $53 million  payment  to
     UtiliCorp, the prior twelve-month period included $31 million  in
     other  merger  costs.   These costs consist  of  $13  million  in
     previously  deferred  merger  costs  expensed  as  a  result   of
     terminating  the merger agreement with UtiliCorp,  a  $5  million
     termination fee paid upon termination, and $13 million  in  costs
     to defend against Western Resources' unsolicited exchange offer.
     
     Both  periods  also  reflect increased non-utility  expenses  and
     subsidiary   operating  costs.   Increased  gas  operations   and
     inclusion  of  three  small  companies  in  which  KLT   obtained
     controlling interests during 1997 are the primary activities that
     contributed to the increased subsidiary expenses.
     
     Income Taxes
     Income taxes for the three- and twelve-month periods reflect  the
     tax  impact  of  the  excess  of  miscellaneous  deductions  over
     miscellaneous income.  Additionally, during the first quarter  of
     both  1998 and 1997 we accrued tax credits of $6 million, or one-
     fourth   of  the  total  expected  annual  credits,  related   to
     affordable  housing  partnership  investments  and  oil  and 
     
                                16

     <PAGE>
     
     gas investments. Non-taxable increases in the cash surrender value
     of  corporate-owned  life  insurance contracts  and  certain  non-
     deductible  expenses  also   affected  the  relationship   between
     miscellaneous deductions and income taxes.


INTEREST CHARGES

      The  increase in long-term debt interest expense for the  three-
and  twelve-month periods reflects higher average levels of  long-term
debt  outstanding.  The higher average levels of debt resulted  mainly
from increased KLT debt to support expanding subsidiary operations.

     The increase in miscellaneous interest charges for the three- and
twelve-month periods is primarily due to interest charges incurred  on
the $150 million of 8.3% preferred securities.

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

WOLF CREEK

       Wolf   Creek  is  one  of  KCPL's  principal  generating  units
representing  about  16% of its accredited generating  capacity.   The
plant's operating performance has remained strong, contributing  about
27%  of  the  annual  mwh  generation while operating  at  an  average
capacity  of  88% over the last three years.  It has the  lowest  fuel
cost per MMBTU of any of KCPL's generating units.

      The  incremental  operating, maintenance and  replacement  power
costs for planned outages are accrued 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 ninth refueling and maintenance outage, budgeted for
35  days,  began in early October 1997 and was completed  in  December
1997 (58 days).  The extended length of the ninth outage was caused by
several equipment problems.  The extended length of the outage was the
primary  reason  for  a  $6 million increase  in  Wolf  Creek  related
replacement  power  and  operating and maintenance  expenses  for  the
twelve-month  period.   Wolf Creek's tenth refueling  and  maintenance
outage is scheduled for the spring of 1999 and is estimated to be a 40
day outage.

      Currently,  no  major equipment replacements  are  expected.  An
extended  shut-down  of  Wolf Creek could have a  substantial  adverse
effect  on  KCPL's  business,  financial  condition  and  results   of
operations.   Higher  replacement  power  and  other  costs  would  be
incurred  as  a  result.  Although not expected, an unscheduled  plant
shut-down  could  be  caused  by actions  of  the  Nuclear  Regulatory
Commission  reacting to safety concerns at the plant or other  similar
nuclear   units.   If  a  long-term  shut-down  occurred,  the   state
regulatory commissions could consider reducing rates by excluding  the
Wolf Creek investment from rate base.

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

                                17


<PAGE>

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   detect
contamination.   However, these regulations are  constantly  evolving;
governmental  bodies may impose additional or more rigid environmental
regulations  that could require substantial changes to  operations  or
facilities.

      The  Clean  Air  Act  Amendments of 1990  contain  two  programs
significantly affecting the utility industry.  KCPL has spent about $5
million   for  the  installation  of  continuous  emission  monitoring
equipment  to satisfy the requirements under the acid rain  provision.
The  other  utility-related program calls for a study of  certain  air
toxic  substances.  Based on the outcome of this study, regulation  of
these  substances,  including mercury, could be required.   We  cannot
predict the likelihood of any such regulations or compliance costs.

      In  July 1997 the United States Environmental Protection  Agency
(EPA)  published  new air quality standards for ozone and  particulate
matter.   Additional regulations implementing these new standards  are
expected   to  be  finalized  in  1998.   Without  the  implementation
regulations,  the  real  impact of the standards  on  KCPL  cannot  be
determined.  However, the impact on KCPL and other utilities  who  use
fossil  fuels  could be substantial.  Under the new  fine  particulate
regulations  the EPA will begin a five-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.

      In 1997 the EPA also issued new proposed regulations on reducing
Nitrogen Oxide (NOx) emissions.  Under the new regulations 22  states,
including Missouri but not Kansas, would be required to develop  plans
to  reduce  NOx  emissions.  The new limits would go  into  effect  in
either  2002  or 2004.  The cost of equipment to reduce NOx  emissions
could  be  substantial, however, until regulations are  finalized  the
associated costs to KCPL cannot be determined.

     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.   President
Clinton  has  stated  that  this change in  the  treaty  will  not  be
submitted  to  the  U.S.  Senate at this time  where  ratification  is
uncertain.   If future national restrictions on electric  utility  CO2
emissions  are  eventually required, the financial  impact  upon  KCPL
could be substantial.

IMPACT OF THE YEAR 2000 ISSUE

     The  Year 2000 Issue is the result of computer programs using two
digits instead of four digits to define the applicable year.  Computer
programs with date-sensitive software may recognize a date using  "00"
as  the year 1900 rather than the year 2000.  This could result  in  a
system failure or miscalculations causing disruptions of operations.

     Through  ongoing  assessment of the  Year  2000  Issue,  we  have
determined  that it is necessary to modify or replace some  of  KCPL's
internal  software so that its computer systems will properly  utilize
dates  beyond  December 31, 1999.  We believe that  with  the  planned
modifications and conversions of KCPL's software, the Year 2000  Issue
can  be  mitigated.   We  will  utilize  both  internal  and  external
resources to address the Year 2000 Issue.

                                18

<PAGE>

     For  the past several years, we have been incurring capitalizable
costs  to  replace older systems with new and innovative  technologies
that place us in a stronger competitive position for the future.  As a
result,  the  cost  of the Year 2000 project has been  lessened.   The
costs  of  modifications and replacements identified in the Year  2000
project are being expensed as incurred and are not material to  KCPL's
results  of  operations.  However, there is no guarantee that  current
cost  estimates  of  the  Year  2000 project  will  not  be  exceeded.
Specific  factors that might cause costs to exceed estimates  include,
but  are  not  limited to, the availability and cost of  appropriately
trained  personnel,  the ability to locate and  correct  all  relevant
computer codes, and similar uncertainties.

     We  have initiated formal communications with all of KCPL's large
suppliers  and  customers to evaluate KCPL's  vulnerability  to  those
third  parties'  failure  to  remediate their  own  Year  2000  Issue.
However,  there  is  no guarantee that third party  systems  on  which
KCPL's  systems rely will be timely converted, or that  a  failure  to
convert,  or  a  conversion that is incompatible with KCPL's  systems,
would not have a material adverse effect on KCPL.

CAPITAL REQUIREMENTS AND LIQUIDITY

      As  of April 1, 1998, the liquid resources of KCPL included cash
flows  from  operations;  $300  million of  registered  but  unissued,
unsecured  medium-term notes; $150 million of registered but unissued,
preferred securities and $314 million of unused bank lines of  credit.
The  unused lines consisted of KCPL's short-term bank lines of  credit
of  $271 million and KLT's long-term revolving line of credit  of  $43
million.   Cash  and cash equivalents decreased by  $55  million  from
December  31,  1997 to March 31, 1998, primarily due to redeeming  $51
million of maturing long-term debt and paying dividends.

      KCPL  continues to generate positive cash flows  from  operating
activities  although  individual components of working  capital  items
will  vary  with normal business cycles and operations  including  the
timing  of receipts and payments.  The timing of the Wolf Creek outage
affects  the  refueling  outage accrual,  deferred  income  taxes  and
amortization of nuclear fuel.

      The  increase in accrued taxes from December 31, 1997, to  March
31,  1998,  mainly reflects the timing of income tax and property  tax
payments.

      Coal  inventory levels at the end of April 1998 continue  to  be
about  75%  of  targeted levels, due mainly to poor railroad  delivery
performance.  Such railroad related problems are expected to  continue
at  least  through the end of 1998.  We are continuing  to  work  with
KCPL's  rail  carriers  to ensure an adequate coal  supply  and  allow
recovery to targeted coal inventory levels.

      Cash  used  in  investing activities varies with the  timing  of
utility  capital  expenditures and KLT's purchases of investments  and
nonutility  properties.  KLT closed several large  investments  during
the  first  three  months of 1997.  Additionally, the current  twelve-
month  period  reflects $21.5 million of proceeds  from  the  sale  of
streetlights to the City of Kansas City, Missouri at a minimal gain.

     Cash used for financing activities increased for the twelve-month
period  primarily due to repayment of long- and short-term  debt.   In
April  1997,  KCPL  Financing I, a wholly-owned  subsidiary  of  KCPL,
issued  $150 million of preferred securities, which was used  in  part
for  these repayments.  Additionally, in the prior twelve-month period
long-  and  short-term  borrowings increased  to  finance  KCPL's  $53
million  payment  to  UtiliCorp as well  as  additional  purchases  of
investments and nonutility properties by KLT.

                                19

<PAGE>

      KCPL's  common  dividend payout ratio was 98%  for  the  current
twelve-month  period  and  153%  for  the  prior  twelve-month  period
compared to 80% for the twelve-month period ended March 31, 1996.  The
increase  in  the  payout ratios is due mainly  to  the  reduction  in
earnings  because of the significant merger-related expenses  in  both
twelve-month periods.

      We  expect  to meet day-to-day operations, utility  construction
requirements   and   dividends   with   internally-generated    funds.
Uncertainties affecting KCPL's ability to meet these requirements with
internally-generated  funds  include  the  effect  of   inflation   on
operating  expenses,  the  level  of mwh  sales,  regulatory  actions,
compliance  with future environmental regulations and the availability
of   generating  units.   The  funds  needed  for  the  retirement  of
$414  million of maturing debt through the year 2002 will be  provided
from  operations, refinancings or short-term debt.  KCPL  might  issue
additional  debt and/or additional equity to finance  growth  or  take
advantage of new opportunities.

                               20

<PAGE>

PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS.

STATE  OF MISSOURI EX REL. INTER-CITY BEVERAGE CO., INC., ET.  AL
VS.  THE PUBLIC SERVICE COMMISSION OF THE STATE OF MISSOURI,  ET.
AL;  AND JEWISH COMMUNITY CAMPUS OF GREATER KANSAS CITY, INC. VS.
KANSAS STATE CORPORATION COMMISSION, ET. AL.

     On  August  13, 1993, a lawsuit was filed by nine customers,
including Inter-City Beverage Co., Inc., in the Circuit Court  of
Jackson  County,  Missouri against KCPL.  The  suit  alleged  the
misapplication  of  certain  of  KCPL's  electric  rate   tariffs
resulting  in overcharges to industrial and commercial  customers
which had been provided service under those tariffs and requested
certification as a class action.  On December 3, 1993, the  Court
dismissed  the  matter  for lack of subject matter  jurisdiction.
Plaintiffs  appealed  to the Missouri Court of  Appeals,  Western
District.  The Court of Appeals upheld the dismissal.  Plaintiffs
then  filed  a  motion  to transfer the case  with  the  Missouri
Supreme Court.  The motion was denied.

     Plaintiffs  then took their claims to the state  commissions
filing complaints at the MPSC on August 23, 1995, and at the  KCC
on  August  30, 1995, on behalf of Jewish Community  Campus,  the
only  Kansas plaintiff.  The MPSC complaint was dismissed May  1,
1996.   The  Cole  County, Missouri Circuit  Court  affirmed  the
dismissal on January 29, 1997, and the Missouri Court of Appeals,
Western  District,  affirmed the dismissal  on  April  21,  1998.
Appellant  has  until  May 6, 1998, to file  an  application  for
transfer to the Missouri Supreme Court.

     The  KCC complaint was dismissed April 9, 1996.  The Johnson
County,  Kansas District Court affirmed the dismissal on February
4,  1997.   The Plaintiff filed a Notice of Appeal to the  Kansas
Court of Appeals on March 3, 1997.  Plaintiff's Initial Brief was
filed  with the Court of Appeals on May 27, 1997. The  briefs  of
KCPL  and the KCC were filed on June 30, 1997. Plaintiff's  Reply
Brief was filed July 15, 1997.

     Should the proceedings before the MPSC and KCC be overturned
by the state courts, KCPL could be required to refund the alleged
overcharges.   KCPL  believes it will  be  able  to  successfully
defend these actions.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.

EXHIBITS

Exhibit 12     Computation of Ratios of Earnings to Fixed Charges

Exhibit  27    Financial  Data  Schedule (for  the  three  months
               ended March 31, 1998)

REPORTS ON FORM 8-K

      A  report  on  Form 8-K was filed with the  Securities  and
Exchange Commission on January 6, 1998, with attached copy  of  a
press release issued jointly by KCPL and Western Resources,  Inc.
announcing  postponement of their respective  January  21,  1998,
special meetings of shareholders.

      A  report  on  Form 8-K was filed with the  Securities  and
Exchange  Commission  on  March 23,  1998,  with  attached  press
release  and copy of Amended and Restated Agreement and  Plan  of
Merger  by  and  among Western Resources, Inc.,  Kansas  Gas  and
Electric  Company,  NKC,  Inc., and Kansas  City  Power  &  Light
Company,  dated  as  of  February 7, 1997,  and  as  amended  and
restated March 18, 1998.

                             21

<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:  May  5, 1998        By:  /s/Drue Jennings
                            (Drue Jennings)
                            (Chief Executive Officer)


Dated:  May  5, 1998        By:  /s/Neil Roadman
                            (Neil Roadman)
                            (Principal Accounting Officer)