ex99_1.htm

Great Plains Energy

2008 EEI Presentation

November 11, 2008

Exhibit 99.1

Mike Chesser,
Chairman and CEO

Statements made in this presentation that are not based on historical facts are forward-looking, may involve
risks and uncertainties, and are intended to be as of the date when made. Forward-looking statements include,
but are not limited to, the outcome of regulatory proceedings, cost estimates of the Comprehensive Energy Plan
and other matters affecting future operations. In connection with the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, the registrants are providing a number of important factors that could
cause actual results to differ materially from the provided forward-looking information. These important factors
include: future economic conditions in the regional, national and international markets, including but not limited
to regional and national wholesale electricity markets; market perception of the energy industry, Great Plains
Energy, Kansas City Power & Light (KCP&L), and KCP&L Greater Missouri Operations Company (GMO); changes in
business strategy, operations or development plans; effects of current or proposed state and federal legislative
and regulatory actions or developments, including, but not limited to, deregulation, re-regulation and
restructuring of the electric utility industry; decisions of regulators regarding rates KCP&L and GMO can charge
for electricity; adverse changes in applicable laws, regulations, rules, principles or practices governing tax,
accounting and environmental matters including, but not limited to, air and water quality; financial market
conditions and performance including, but not limited to, changes in interest rates and credit spreads and in
availability and cost of capital and the effects on pension plan assets and costs; credit ratings; inflation rates;
effectiveness of risk management policies and procedures and the ability of counterparties to satisfy their
contractual commitments; impact of terrorist acts; increased competition including, but not limited to, retail
choice in the electric utility industry and the entry of new competitors; ability to carry out marketing and sales
plans; weather conditions including weather-related damage; cost, availability, quality and deliverability of fuel;
ability to achieve generation planning goals and the occurrence and duration of planned and unplanned
generation outages; delays in the anticipated in-service dates and cost increases of additional generating
capacity and environmental projects; nuclear operations; workforce risks, including retirement compensation and
benefits costs; the ability to successfully integrate KCP&L and GMO operations and the timing and amount of
resulting synergy savings; and other risks and uncertainties. Other risk factors are detailed from time to time in
Great Plains Energy’s and KCP&L’s most recent quarterly reports on Form 10-Q or Annual Reports on Form 10-K
filed with the Securities and Exchange Commission. This list of factors is not all-inclusive because it is not
possible to predict all factors.

Forward Looking Statement

üSale of Strategic Energy in June

üClose of Aquila Transaction in July

End result is a strong

regional utility with resources

focused on success in

regulated operations

Transforming Transactions Completed

• Solid Midwest electric utility - KCP&L

brand

• Capable, experienced management team

• Investment grade credit rating

• Building a platform for long-term

earnings growth

• Annualized dividend of $1.66/share

* Based on unaudited proforma financial statements filed in 8K dated August 13, 2008

Regulated vertically integrated electric utility operations with:

• $7.3 billion in assets 9/30/08

• $1.9 billion in revenues YE 2007*

• $2.3 billion market cap - NYSE:GXP

• Approx. 820,000 customers in
Kansas and Missouri

• Low retail utility rates

• Total generation capacity of approximately
6,000 MWs

Great Plains Energy

– We will be challenged in 2009 by the same economic factors
impacting others in the industry;

– We believe we have the liquidity to weather difficulties in global
markets and continue to be committed to the dividend;

– We are managing those challenges by prudently reducing near-term
capital expenditures while steadfastly living up to our commitments;

– We have a plan to move all areas toward a Tier 1 cost structure;

– We will continue to work diligently to effectively and constructively
manage our regulatory relationships;

– We have an experienced, talented senior management team to lead
the company through difficult times; and

– Our Path to Growth remains intact.

Great Plains Energy - Positioned to
“Weather the Storm”

Mike Chesser - CEO

37 years experience

Terry Bassham - CFO

22 years experience

Bill Downey - COO

37 years experience

John Marshall - EVP

Utility Operations

32 years experience

•Accounting

•Finance and IR

•Risk Management

•Strategic Planning

•Internal Audit

•Construction

•Regulatory

•Public Affairs

•Business Planning

•Utility Operations

•Supply - Generation

•Delivery - T&D

•Corporate Services

Officers average 23 years of industry experience

Direct Reports’ Average

Years of Industry Experience

17 years

23 years

20 years

Current Key

Responsibilities

Experienced Management Team
Aligned to Succeed

2009 and beyond: Extend the platform

• Integrate Aquila and deliver synergies

• Complete and include Iatan 1 AQCS and GMO environmental projects in
rates effective in 2009

• Complete Iatan 2

• Evaluate 400 MW of additional wind

• Additional environmental spending at LaCygne 1 and potentially LaCygne 2
and Montrose

• Continue with sound strategic planning to effectively meet future
generation requirements and be an industry leader in energy efficiency

• Expected dividend growth, with a traditional target payout ratio, to follow

A Path to Growth

William Downey,
President and COO
Kansas City Power & Light

• Integration progressing smoothly and synergy capture on target

• Customer satisfaction and reliability remains strong

• Progress on implementation of energy efficiency and demand

response

• KCP&L coal units set monthly and quarterly records

Operations Highlights

Impact of unplanned

coal outages in Q1
&Q2 2007

Impact of unplanned

coal outages in Q1 2008

Impact of extended

nuclear refueling outage

• For the period July 14 - September 30, 2008, GMO had

equivalent availability of 94% and a capacity factor of 76%

KCP&L Equivalent Availability / Capacity

Construction Update

• Iatan 1 AQCS

— Planned completion January 2009; in-service February 2009

• Iatan 2

— Planned completion summer 2010

— Planned cost re-assessment to be completed in early 2009

• Sibley 3 SCR

— On schedule; planned completion and in-service Q4 2008

• LaCygne

— Significant expenditures extended beyond 2010

• Wind

— Continuing to assess opportunities

• Fuel recovery included in KCP&L-MO case only

• Key assets requested to be included in rate base:

— Iatan 1 AQCS

— Sibley SCR

— Crossroads peaking unit and related transmission

— GMO interest in environmental upgrades at Jeffrey Energy Center

• New rates expected to be effective July 2009 in Kansas and August 2009 in Missouri

Summary of Rate Cases

Financial Overview

Terry Bassham, CFO
Executive Vice President
Finance & Strategic Development

Liquidity

Earnings Per Share By Segment

Includes KCP&L for full period and GMO results for the period 7/14/08 - 9/30/08

Core Earnings

Key Earnings Drivers:

+ GMO contribution of $18.6 million or $0.16 per share to 3Q 2008

+ Higher KCP&L revenue driven by wholesale

+ Favorable impact of $6.5 million from AFUDC

+ Lower KCP&L purchased power volume, offset somewhat by higher prices

- Higher KCP&L fuel and O&M costs

- Dilution of $0.29 caused by shares issued in connection with GMO transaction

$74.1

$102.5

3Q ‘07

3Q ‘08

Includes KCP&L for full quarter and GMO results for the period 7/14/08 - 9/30/08

(millions
except where
indicated)

$83.9

KCP&L

GMO

$18.6

3Q ‘08
Utility Total

Core Earnings Per Share

$0.87

$0.90

3Q ‘07

3Q ‘08

KCP&L

GMO

$0.74

$0.16

3Q ‘08
Utility Total

Electric Utility Third Quarter Results

Core Earnings

Core Earnings Per Share

$112.7

$147.1

$1.33

$1.54

(millions
except where
indicated)

YTD ‘07

YTD ‘08

YTD ‘07

YTD ‘08

Earnings Drivers:

+ GMO contribution of $18.6 million or $0.20 per share YTD 2008

+ Increase in KCP&L’s AFUDC of $13.7 million

+ New retail rates at KCP&L effective January 2008

+ Increased wholesale prices and 3Q volumes

- Mild 3Q weather

- Purchased power $19.9 million higher

- Dilution of $0.16 caused by shares issued in connection with GMO transaction

Includes KCP&L for full nine months and GMO results for the period 7/14/08 - 9/30/08

KCP&L

GMO

YTD ‘08
Utility Total

KCP&L

YTD ‘08
Utility Total

$0.20

$1.34

$18.6

$128.5

GMO

Electric Utility Year-to-Date Results

Great Plains Energy 2009

Guidance Range $1.30 - $1.60

Key Assumptions

• Revenue

• Normal weather

• Retail (weather-normalized)

• 2009 - Retail MWh sales essentially flat compared to 2008 for KCP&L;
growth rate at GMO ~1.5%, similar to 2008 growth

• 2010-11 - Retail growth of 0.5% - 1% at KCP&L and 1% - 2% at GMO

• New wholesale margin threshold for KCP&L-MO of $92.5 million (subject
to true-up) effective with new rates in August 2009

• Regulatory

• Approval of the rate request in Kansas and Missouri with new rates in
effect late summer 2009

• New rates in “Iatan 2 case” in effect summer 2010 in KS, and fall 2010
for the MO properties

• Assumed ROE of 10.75%

Key Assumptions Continued

• Plant Performance

• Equivalent Availability Factor (EAF) and Capacity Factor (CF) for fossil
fleet for 2009 of ~80% and 77%, respectively; in 2010-11, EAF in 80%-
85% range and CF relatively constant

• Wolf Creek plant performance at historical levels

• Capital Expenditures

• Previous cost and schedule disclosures for Iatan 2

• No wind in capex projections until 2011

• Reduced spending on LaCygne environmental in 2009 - 10

• No additional environmental mandates

• Fuel Expense

• 67% covered by FAC

• Approximately 85% of 2009, 45% of 2010, and 15% of 2011’s
KCP&L coal requirements are under contract

Key Assumptions Continued

• Finance

• Dividend maintained at $1.66/share for 2009-11

• $200 million of equity issuance in 2009; total $400 million of additional
equity issuance in 2010-11

• $850 - $950 million of new debt over 2009-11; short-term / long-term
TBD

• No refinancing of GMO debt prior to maturity

• Amortization of GMO debt write-up reduces pre-tax interest expense by
approximately $32 million per year in 2009-11

• Tax

• The marginal tax rate before credits relatively constant at 38.9%

• Tax credits of $6-8 million per year will reduce the marginal tax rate from
38.9% (excludes advanced coal credits)

• NOLs - No earnings benefit, but $100 million of NOLs available annually in
2009 - 2012 to reduce cash taxes

Projected Capital Expenditures

2009-2011

$ Billions

$3.7

$6.5

$5.9

$5.7

$4.2

• Year-end rate base projections

• Iatan 1, Sibley environmental and Crossroads in rate base 3Q09

• Iatan 2 in rate base 3Q 2010 (KCP&L-KS and GMO) and

4Q 2010 (KCP&L-MO)

Solid Rate Base Growth

Great Plains Energy

2008 EEI Presentation

November 11, 2008

Appendix

Core earnings is a non-GAAP financial measure that differs from GAAP earnings because it excludes the effects of discontinued operations, certain unusual items and mark-to-market gains
and losses on certain contracts. Great Plains Energy believes core earnings provides to investors a meaningful indicator of its results that is comparable among periods because it excludes
the effects of items that may not be indicative of Great Plains Energy’s prospective earnings potential. Core earnings is used internally to measure performance against budget and in reports
for management and the Board of Directors and are a component, subject to adjustment, of employee and executive compensation plans. Investors should note that this non-GAAP measure
involves judgments by management, including whether an item is classified as an unusual item, and Great Plains Energy’s definition of core earnings may differ from similar terms used by
other companies. The impact of these items could be material to operating results presented in accordance with GAAP. Great Plains Energy is unable to reconcile core earnings guidance to
GAAP earnings per share because it does not predict the future impact of unusual items and mark-to-market gains or losses on energy contracts.