8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 1, 2009

Commission File Number	Registrant, State of Incorporation, Address and Telephone Number	I.R.S. Employer Identification Number
001-32206	GREAT PLAINS ENERGY INCORPORATED	43-1916803
	(A Missouri Corporation)
	1201 Walnut Street
	Kansas City, Missouri  64106
	(816) 556-2200
	NOT APPLICABLE
(Former name or former address, if changed since last report)
000-51873	KANSAS CITY POWER & LIGHT COMPANY	44-0308720
	(A Missouri Corporation)
	1201 Walnut Street
	Kansas City, Missouri  64106
	(816) 556-2200
	NOT APPLICABLE
	(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
	(17 CFR 240.14d-2(b))
[  ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

This combined Current Report on Form 8-K is being furnished by Great Plains Energy Incorporated (Great Plains Energy) and Kansas City Power & Light Company (KCP&L).  KCP&L is a wholly owned subsidiary of Great Plains Energy and represents a significant portion of its assets, liabilities, revenues, expenses and operations.  Thus, all information contained in this report relates to, and is furnished by, Great Plains Energy.  Information that is specifically identified in this report as relating solely to Great Plains Energy, such as its financial statements and all information relating to Great Plains Energy’s other operations, businesses and subsidiaries, including Aquila, Inc., which does business as KCP&L Greater Missouri Operations Company (KCP&L GMO) does not relate to, and is not furnished by, KCP&L.  KCP&L makes no representation as to that information.  Neither Great Plains Energy nor KCP&L GMO has any obligation in respect of KCP&L’s debt securities and holders of such securities should not consider Great Plains Energy’s or KCP&L GMO’s financial resources or results of operations in making a decision with respect to KCP&L’s debt securities.  Similarly, KCP&L has no obligation in respect of securities of Great Plains Energy or KCP&L GMO.

Item 7.01 Regulation FD Disclosure

Commencing on April 2, 2009, Great Plains Energy will participate in meetings with investors.  A copy of the investor handout to be used in such meetings is attached as Exhibit 99.1 hereto.

The information under Item 7.01 and in Exhibit 99.1 hereto is being furnished and shall not be deemed filed for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended.  The information under Item 7.01 and Exhibit 99.1 hereto shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, unless otherwise indicated in such registration statement or other document.

Item 9.01	Financial Statements and Exhibits
(d)  Exhibits
99.1	Investor handout.

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 hereunto duly authorized.

GREAT PLAINS ENERGY INCORPORATED

/s/ Terry Bassham

Terry Bassham

Executive Vice President- Finance & Strategic Development and Chief Financial Officer

KANSAS CITY POWER & LIGHT COMPANY

/s/ Terry Bassham

Terry Bassham

Executive Vice President- Finance & Strategic Development and Chief Financial Officer

Date: April 1, 2009.

EX-99.1

Great Plains Energy
Midwest Investor Meetings
April 2 - 3, 2009

Ellen Fairchild

Director - - Investor Relations

816-556-2083

ellen.fairchild@kcpl.com

Michael Cline

Vice President - Investor Relations

And Treasurer

816-556-2622

michael.cline@kcpl.com

1

FORWARD-LOOKING STATEMENTS

Statements made in this report 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 regional, national and international markets and their effects on sales, prices and costs, including, but not limited to, possible further
deterioration in economic conditions and the timing and extent of any economic recovery; prices and availability of electricity in regional and national wholesale
markets; market perception of the energy industry, Great Plains Energy, KCP&L and KCPL 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 nuclear decommissioning trust and 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, but not limited to,
weather-related damage and their effects on sales, prices and costs; 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, but not limited to, 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. This list of factors is not all-inclusive
because it is not possible to predict all factors. Other risk factors are detailed from time to time in Great Plains Energy’s and KCP&L’s most recent quarterly report on
Form 10-Q or annual report on Form 10-K filed with the Securities and Exchange Commission. Any forward looking statement speaks only as of the date on which such
statement is made. Great Plains Energy and KCP&L undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new
information, future events or otherwise.

Forward Looking Statement

Overview / Recent Developments

3

Regulated vertically integrated electric utility operations:

•$7.9 billion in assets*

•$1.7 billion in revenues*

•$1.4 billion market cap - NYSE:GXP

•Approx. 820,000 customers in KS and MO

•Low retail utility rates

•Total generation capacity of over 6,000 MWs

Solid Midwest electric utility - KCP&L Brand

Capable, experienced management team

Investment grade credit rating

Building a platform for long-term earnings growth:

Additions to rate base

Synergies from Aquila transaction

MO & KS regulatory process

Annualized dividend of $0.83/share

* Based on year-end 2008 financial statements filed in 10K dated February 27, 2008

Great Plains Energy Business Overview

4

Renewed focus on our utility roots:

Sale of Strategic Energy

Acquisition of Aquila

Significant Progress on our Comprehensive Energy Plan

2008 - A Transformational Year……

5

Growing economic and financial market uncertainty and
deterioration have imposed increasing constraints on availability of
internal capital and cost of external capital

Internal

–Customer demand growth significantly lower than historical levels

–Cost increases / regulatory lag

External

–Volatile capital markets

–Significant increase in cost of capital

……And a Challenging Year

6

Long-term Flexibility and Positioning

Proactive, Responsive, and Prudent Measures

•Lowered 2009 guidance from $1.30 - $1.60 to $1.10 - $1.40

•Eliminated or deferred additional 2009-10 capital expenditures

•Suspended external hiring for all but essential skills

•Tightly managing O&M expense

•Reduced common stock dividend by 50% effective in 1Q09

7

$ Billions

$3.7

$6.5

$5.9

$5.7

$4.2

• Year-end rate base projections 2009 - 2012

• Environmental at Iatan 1 and Sibley, as well as

Crossroads expected in rate base 3Q09

• Iatan 2 expected in rate base 3Q 2010 (KCP&L-KS and GMO) and 4Q 2010 (KCP&L-MO)

Reinvesting in the Business and
Growing Rate Base

8

•Integration of KCP&L GMO (“GMO”, formerly Aquila) and attainment
of synergy targets

•Rate base growth through KCP&L’s Comprehensive Energy Plan and
plant investments by GMO and KCP&L

•Rate case filings to include investments in rate base and to share
synergies with customers

Key Focus Areas

GMO Integration and
Synergy Target Attainment

10

Combined Company

•820,000 customers across 47 counties in
MO and KS covering 17,934 sq. miles

•3,259 employees - including 920 new
hires

•30 office/service center locations

•9 generation plant sites and 10 peaking
facilities

•Over 3,000 miles transmission, 24,000
miles distribution lines, and 320
substations

KCP&L Property

GMO Property

11

Diverse Generation Fleet

12

2009 Estimated Fuel Mix

Coal 76%

Nuclear 17%

Plant Performance

KCP&L Equivalent Availability Coal

70%

74%

89%

86%

72%

80%

92%

70%

KCP&L Capacity Factor Coal

65%

70%

86%

82%

68%

76%

88%

66%

KCP&L Equivalent Availability Nuclear

100%

100%

100%

100%

79%

50%

100%

100%

KCP&L Capacity Factor Nuclear

100%

100%

100%

100%

79%

50%

100%

100%

GMO Equivalent Availability Coal

94%

48%

GMO Capacity Factor Coal

76%

41%

Generation Fleet Performance

13

2008 Electric Revenues

2008 Electric MWh Sales

Residential - - 37%

Residential - - 29%

Commercial - - 38%

Commercial - - 38%

Wholesale - - 22%

Wholesale - - 14%

Industrial - - 9%

Industrial - - 11%

Other - 2%

Customer Mix

14

No single customer contributes over 2% of Great Plains Energy’s Revenues

* FERC 2008 Large Customer Filing

20 Largest Customers by Revenue

15

Source:Edison Electric Institute (EEI) - “Typical Bills and Average Rates Report Summer 2008”

KCP&L Prices Compare Favorably
on National & Regional Basis

16

Integration Successes

Infrastructure

• Combined several key systems (accounting, HR) as well as telecom and network platforms into a single version
for each

Operations

• Two Aquila unions consolidated into the three existing KCP&L unions

• Training initiated to align work rules, safety rules, and construction specs

• Integrated T&D

• Work management system up and running

• Supply team actively procuring fuel and purchased power

• Expanded generating fleet is meeting its operational requirements

Customer Service

• Call Center operations integrated

• Customer satisfaction and customer service remain good

Rate Base Growth

18

Projected Capital Expenditures
2009-2011

19

Comprehensive Energy Plan

20

Iatan1

Iatan2

Construction Update

• Completed Sibley 3 SCR

• Iatan 1 AQCS expected in-service mid-April

• Iatan 2

- Planned completion summer 2010

- Planned cost re-assessment to be completed

in mid 2009

• LaCygne

- Significant expenditures extended beyond 2010

• Wind

- Entered into an agreement to acquire 32 wind turbines

- KCP&L option to construct 35-turbine project by May 2010

Regulatory / Legislative

22

Company Filing

Commission Staff Position

Summary of Rate Cases

23

JULAUGSEPOCTNOVDECJANFEBMARAPR& #160;MAYJUNJULAUGSEPT

Filed Rate Case

09/05/08

Outage
Started
10/18/08

Outage
Completed Late
Mar.

KS & MO Rate
Case True-up

04/30/09

New Tariffs Effective

MO - 9/5/09

Projected
Provisional
Acceptance
April

Iatan 1

Sibley 3

Outage
Started
10/28/08

Outage
Completed
12/31/08

KCPL KS

Hearings

6/22 - 7/2

Hearings

KCPL MO 4/20 - 5/1

GMO Steam 5/4 - 5/7

GMO 5/11 - - 5/15

KCPL KS

Order 8/14

New Tariffs Expected
8/20

Proposed Findings of Fact and
Conclusions of Law

6/9 KCPL

6/11 GMO

•Change in true-up date from 3/31/09 to 4/30/09 (to accommodate delay in in-service date of Iatan 1
AQCS)

Timeline for Current Rate Cases

24

•Passage of Proposition C (mandatory RPS)

•New Governor

•PSC

• New Chairman

• Two Commissioner appointments expected in
April 2009

•Legislation to create mandatory RPS and enable
net metering offered by Governor

•KCC: Issued an order on Docket 441, “Cost
Recovery and Incentives for Energy Efficiency
Programs”

Missouri

Kansas

Legislative and Regulatory

Conclusion

26

$ Billions

$3.7

$6.5

$5.9

$5.7

$4.2

• Year-end rate base projections 2009 - 2012

• Environmental at Iatan 1 and Sibley environmental, as well as Crossroads expected in rate base
3Q09

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

and 4Q 2010 (KCP&L-MO)

Solid Rate Base Growth

27

2009 and beyond: Extend the platform

•Re-deployment of capital from dividend reduction to strengthen utility platform

•Integrate GMO and deliver synergies

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

•Complete Iatan 2

•Entered into an agreement to acquire 32 wind turbines

•KCP&L option to construct 35-turbine project by May 2010

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

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

Our Path to Growth remains intact

Path to Growth

Appendix
(financial graphics from year-end
2008 earnings call)

29

2009 Earnings Per Share
Guidance Bridge

30

•Additional 2009-10 capex reduction of $170 million

from November 2008 estimates

Projected Capital Expenditures
2009-2011

31

Financing Requirements - Sources
Uses of Cash 2009 - 2011

32

Great Plains Energy 2009

Guidance Range $1.10 -$1.40

Revenue:

Normal weather

Retail (weather-normalized)

2009- Retail MWh sales volume decline of (0.7%) compared to 2008

(previous estimate 0.5% growth)

2010-11 - Retail MWh sales volume growth averages 1.4% annually

(previous estimate ~1% annually, but off a higher assumed ’09 base)

New wholesale margin threshold for KCP&L-MO of $92.5 million (subject to true-

up effective with new rates in August 2009

Key Assumptions

33

Key Assumptions Continued

•Finance

Dividend reduced to $0.83/share

$200 million of total equity issuance in 2009 - 2010; $200 million in 2011

(previous: $200 million of equity in 2009; total $400 additional 2010-2011)

$400 million of new long-term KCP&L debt in 2009;

Issuing $950 million over 2010/2011 ($487 maturing; rest new debt)

(previous:$850 - $950 million of new debt over 2009-11)

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

34

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 in MO

Assumed ROE of 11%(previous 10.75%)

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

Resource and portfolio mix of ~ 86% generation and 14% purchased energy

Fuel Expense

67% covered by FAC

Approximately all of 2009, 60% of 2010, and 40% of 2011’s

coal requirements are under contract

(Previous: approximately 85% of 2009, 45% of 2010, and 15% of 2011)

Key Assumptions Continued

35

Capital Expenditures

Additional reduction of $140 million of 2009-11 capex

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

Tax

The marginal tax rate before credits relatively constant at 38.9%

Tax credits and the non-tax affect of AFUDC equity reduces average effective tax

rate to approximately 30.8%

NOLs - No earnings benefit, but $100 million of NOLs available

annually in 2009 - 2012 to reduce cash taxes

Key Assumptions Continued

36

• Iatan 2 AFUDC equity rates for KCP&L KS and KCP&L MO are

8.30% and 8.25%, respectively, until new rates effective in 2009

CWIP Projections 2009 - 2011

AFUDC Projections 2009 - 2011

CWIP and AFUDC Projections

37

Earnings Per Share By Segment

38

Core Earnings

Key Earnings Drivers:

+7% increase in retail revenue due to new rates

+Increase in KCP&L’s equity component of AFUDC of $6.3 million

- GMO loss of $0.7 million or $(0.01) per share

- 5% lower total KCP&L revenue driven by a $30.7 million decline in wholesale as

a result of lower prices and a 32% decrease in MWh sales (due primarily to Iatan

outage)

- Higher KCP&L O&M costs and higher depreciation and amortization expense

- Dilution of $0.05 caused by shares issued in connection with GMO transaction

$34.7

$15.7

4Q ‘07

4Q ‘08

(millions except
where indicated)

$16.4

KCP&L

KCP&L

GMO

$(0.7)

4Q ‘08Utility Total

Core Earnings Per Share

$0.40

$0.13

4Q ‘07

4Q ‘08

KCP&L

KCP&L

GMO

$0.14

$(.01)

4Q ‘08Utility
Total

Electric Utility Fourth Quarter Results

39

Core Earnings

Core Earnings Per Share

$146.4

$162.8

$1.72

$1.61

(millions except
where indicated)

YTD ‘07

YTD ‘08

YTD ‘07

YTD ‘08

Earnings Drivers:

+ GMO contribution of $17.9 million or $0.17 per share in 2008

+ Increase in KCP&L’s equity component of AFUDC of $20.0 million

+ Increased retail revenue of $61.8 million, primarily from new retail rates

at KCP&L effective 1/08

- Mild summer weather with a 27 percent decrease in cooling degree days

-Increased purchased power of $18.0 million due to increased average prices and an

increase in MWh’s purchased resulting from plant outages

-Higher interest expense, higher O&M, and higher fuel

-Dilution of $0.30 per share caused by shares issued in connection with GMO transaction

Includes KCP&L for full-year and GMO results for the period 7/14/08 - 12/31/08

KCP&L

GMO

YTD ‘08 Utility
Total

KCP&L

KCP&L

KCP&L

YTD ‘08 Utility
Total

$0.17

$1.44

$17.9

$144.9

GMO

Electric Utility Year-to-Date Results

40

Core Earnings

Core Earnings Per Share

$(0.05)

$(0.08)

Key Earnings Drivers:

The YTD greater core loss is primarily attributable to a $5.4 million loss

from GMO’s non-utility activities

$(6.4)

$(7.2)

(millions except
where indicated)

4Q ‘07

4Q ‘08

4Q ‘07

4Q ‘08

Core Earnings

$(20.5)

$(24.3)

YTD ‘07

YTD ‘08

$(0.24)

$(0.24)

Includes KCP&L for the full-year and GMO results for the period 7/14/08 - 12/31/08

GXP “Other” Results

41

Liquidity

42

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 toGAAP earnings per share because it does not predict the future impact of unusual items and mark-to-market gains or losses on energy
contracts.

43

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 toGAAP earnings per share because it does not predict the future impact of unusual items and mark-to-market gains or losses on energy
contracts.