Kansas City Power & Light Announces Its Endorsement of Missouri Renewable Energy Ballot Initiative
KANSAS CITY, Mo.--(BUSINESS WIRE)--Kansas City Power & Light (KCP&L), a subsidiary of Great Plains Energy Incorporated (NYSE: GXP), announced today that it is endorsing the effort by Missourians for Cleaner Cheaper Energy to put a renewable energy initiative proposal on the public ballot for the November 2008 election.
“Giving Missourians the opportunity to voice their opinion on renewable energy is consistent with that philosophy.”
The ballot initiative -- which would require obtaining more than 90,000 voter signatures on a petition by May 4, 2008 -- would require that investor-owned electric utilities generate or purchase electricity from renewable energy sources such as solar, wind, biomass and hydropower equaling at least two percent of retail sales by 2011. That requirement would increase incrementally to at least 15 percent by 2021, including at least two percent from solar energy. The initiative also protects utilities and consumers by ensuring that cost of compliance and associated rate impact is limited to 1%.
“Our endorsement of the renewable energy initiative proposal underscores our continuing commitment to achieving regional sustainability by supporting investments in clean energy sources,” said Michael Chesser, Chairman and Chief Executive Officer of Great Plains Energy. “A strong renewable energy policy benefits our customers by reducing costs and stimulating the growth of the renewable energy industry locally. Policies such as this, coupled with tax credits for construction of new renewable electricity generation, benefit consumers as the sources of electricity are diversified and renewable electricity generation costs are low.”
Through the implementation of its Comprehensive Energy Plan, KCP&L has committed to clean, renewable energy sources. KCP&L owns and operates a 100-megawatt wind energy facility in Spearville, Kansas. KCP&L has signed a landmark agreement with the Sierra Club to pursue adding 400 megawatts of wind by 2012, subject to regulatory approval. This commitment will get us close to the standard set in the proposed initiative petition. In addition, KCP&L is committed to pursue a 300-megawatt reduction in energy demand by 2012 by partnering with customers to implement cost-effective efficiency programs. “Working with our customers and the communities we serve is the hallmark of who we are at KCP&L,” said Chesser. “Giving Missourians the opportunity to voice their opinion on renewable energy is consistent with that philosophy.”
“Sierra Club’s vision for a sustainable new energy future for Missouri integrates energy efficiency, energy conservation, and the development of clean and reliable renewable energy sources to meet our future energy demand and address global warming,” said Melissa Hope, Missouri Development Director of Sierra Club. “Mandatory renewable energy standards (RES) are needed to propel Missouri toward that new, clean energy future. By endorsing the RES initiative, KCPL continues to distinguish itself as a leader in the region on transitioning Missouri to a low-carbon energy economy, one that will ensure economic prosperity and energy security, and provide family-supporting jobs and a healthy environment in Missouri for decades to come.”
P.J. Wilson, spokesman for Missourians for Cleaner Cheaper Energy, agrees. “This November, voters across the state will have the opportunity to determine the future of energy policy in Missouri,” Wilson explained. “Passing this initiative will help guide Missouri down the path toward energy independence while producing thousands of new jobs to expand the state’s renewable energy industry.”
Headquartered in Kansas City, Mo., KCP&L (www.kcpl.com) is a leading regulated provider of electricity in the Midwest. KCP&L is a wholly owned subsidiary of Great Plains Energy Incorporated (NYSE: GXP), the holding company for KCP&L and Strategic Energy L.L.C., competitive electricity supplier.
About Sierra Club
The Sierra Club’s National Coal Campaign is working to ensure coal is mined responsibly and burned cleanly. Across the country the Campaign is fighting to stop the nation's dependence on dirty coal and direct the proposed investments into energy efficiency, renewable resources, and other clean alternatives.
About Missourians for Cleaner Cheaper Energy
Missourians for Cleaner Cheaper Energy is a collaborative between businesses, labor, community, religious, and environmental groups to pass the Missouri Clean Energy Initiative. Learn more about MCCE at www.MissouriCleanEnergy.org.