Kansas regulators Wednesday rejected the proposed sale of the state’s largest electric company to a Missouri firm in a $12.2 billion deal that critics argued would financially hobble the combined utility. The Kansas Corporation Commission issued its order against a proposal from Kansas City, Mo.-based Great Plains Energy Inc. to buy Topeka-based Westar Energy Inc. after consumer advocates and the commission’s own staff criticized the acquisition. Opponents argued that Great Plains was paying far too much and regulators could be forced to boost rates to keep the combined company stable. The Missouri Public Service Commission has had hearings but has yet to rule. In Kansas, the companies could file a lawsuit to overturn the decision.
Source: VNC News
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