ex99_1.htm

Great Plains Energy

Investor Presentation

Fall 2010

Fall 2010 Investor Presentation

Exhibit 99.1

Michael Cline

Vice President - Investor Relations and Treasurer

816-556-2622

michael.cline@kcpl.com

Terry Bassham

Executive Vice President - Utility Operations

816-556-2565

terry.bassham@kcpl.com

Fall 2010 Investor Presentation

Company Representatives

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, Great Plains Energy and KCP&L 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 and KCP&L; 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 the companies 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; impairments of long-lived assets or goodwill; 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 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, increased costs of retirement, health care and
other benefits; the timing and amount of resulting synergy savings from the GMO acquisition; 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 quarterly reports on Form 10-Q and annual report on Form 10-K filed with the Securities and Exchange
Commission. Each forward-looking statement speaks only as of the date of the particular statement. 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

Fall 2010 Investor Presentation

• Solid Midwest electric utility operating under the KCP&L brand

• Transformational events in 2008 to focus business model on fully
regulated utility operations

– Sale of Strategic Energy

– Acquisition of Aquila (now KCP&L Greater Missouri
Operations, or “GMO”)

• Company attributes

– ~822,000 customers / 3,200+ employees

– ~6,600 MW of primarily low-cost coal baseload
generation

– 5-year projected synergies post-GMO acquisition of
~$760M

– ~$8.5bn in assets and $4.4bn in rate base at 2009YE

Service Territories: KCP&L and GMO

Business Highlights

YTD MWh Sold by Customer Type

YTD MWh Sales by Jurisdiction

YTD MWh Generated by Fuel Type

Total: ~ 18,423 MWhs

Total: ~ 19,958 MWhs

Note: Charts below reflect YTD 9/30/10

Fall 2010 Investor Presentation

Solid Vertically-Integrated Midwest Utility

• Strong Midwest electric utilities focused on regulated operations in Missouri and Kansas

• Diversified customer base includes ~822,000 residential, commercial, and industrial customers

• ~6,600 Megawatts of generation capacity

• Low-cost generation mix: 80% coal, 17% nuclear (Wolf Creek), 2% natural gas/oil and 1% wind in 2009

100% Regulated
Electric Utility
Operations Focus

• Growth and stability in earnings driven by sizable regulated investments as part of the Comprehensive Energy Plan
(“CEP”)

• Wind and environmental retrofit components of CEP in place; Iatan 2 baseload coal plant placed in-
service in 3Q2010

• Potential growth beyond 2010 driven by additional environmental capex, transmission opportunities and wind

Attractive Platform for
Long-Term Earnings
Growth

• Constructive outcomes in 2006, 2007 and 2008 rate cases in Missouri and Kansas

• Current cases

• Kansas - KCC order issued 11/22/10 authorized a revenue requirement increase of $21.8 million and brought
Iatan 2 in to rate base with minimal disallowance

• Missouri - $190 million rate increase request for KCP&L MO and GMO filed June 2010

Diligent Regulatory
Approach

• Cash flow and earnings heavily driven by regulated operations and cost recovery mechanisms

• Ample liquidity currently available under $1.25bn credit facilities

• Sustainable dividend and pay-out, right-sized to fund growth and to preserve liquidity

• Recent shift in outlook from Negative to Stable at Moody’s and S&P

Improved Financial
Position

Fall 2010 Investor Presentation

Strong Platform

Executing the Plan

Fall 2010 Investor Presentation

	Project description	Comments
	• 100 MW plant in Spearville, KS • Began construction in 2005	ü Completed in Q3 2006 ü In rate base from 1/1/2007 ü No regulatory disallowance
	• Selective Catalytic Reduction (SCR) unit at LaCygne 1	ü Completed in Q2 2007 ü In rate base from 1/1/2008 ü No regulatory disallowance
	• Air Quality Control System at Iatan 1	üCompleted in Q2 2009 üIn rate base starting 3Q 2009 (KS 08/1 & MO 9/1) üNo regulatory disallowance in 2009 MO and KS cases; capped exposure in 2010 cases
	• Construction of Iatan 2 super-critical coal plant (850 MW; 73% GXP ownership share)1	ü In-service on 8/26/2010; confirmed by KCC in October; MPSC view to be communicated through pending rate cases ü Included in KS rate base with minimal disallowance Q4 2010; MO rate base treatment to be determined Q2 2011

Iatan 2

Iatan 1

Environmental

LaCygne

Environmental

Wind

Great Plains Energy has effectively executed all elements of its Comprehensive Energy Plan to date
and has received constructive regulatory treatment

Comprehensive Energy Plan

1 Includes post-combustion environmental technologies including an SCR system, wet flue gas desulphurization system and fabric filter to control
emissions

Fall 2010 Investor Presentation

Strong Track Record of Execution

Rate Case Outcomes
Rate Jurisdiction	Amount Requested	Amount Approved	Effective Date	Rate Base	Return on Equity	Rate-making Equity Ratio
KCP&L - Missouri	$55.8	$50.6	1/1/2007	$1,270	11.25%	53.69%
KCP&L - Missouri	$45.4	$35.3	1/1/2008	$1,298	10.75%	57.62%
KCP&L - Missouri	$101.5	$95.0	9/1/2009	$1,4961	n/a4	46.63%
KCP&L - Kansas	$42.3	$29.0	1/1/2007	$1,0001	n/a2	n/a
KCP&L - Kansas	$47.1	$28.0	1/1/2008	$1,1001	n/a3	n/a
KCP&L - Kansas	$71.6	$59.0	8/1/2009	$1,2701	n/a4	50.75%
KCP&L - Kansas	$55.1	$21.8	12/1/2010	$1,781	10.00%	49.66%
GMO - MPS	$94.5	$45.2	6/1/2007	$918	10.25%	48.17%
GMO - MPS	$66.0	$48.0	9/1/2009	$1,1881	n/a5	45.95%
GMO - L&P	$24.4	$13.6	6/1/2007	$186	10.25%	48.17%
GMO - L&P	$17.1	$15.0	9/1/2009	$2861	n/a5	45.95%

1 Rate Base amounts are approximate amounts since the cases were black box settlements; 2 Iatan 2 AFUDC calculation was set at 8.5%; 3

Iatan 2 AFUDC calculation was set at 8.3%; 4 Iatan 2 AFUDC calculation was set at 8.25%; 5 Iatan 2 AFUDC calculation was set at 10.2%

Fall 2010 Investor Presentation

Focused Regulatory Approach

Operational and Strategic Overview

Fall 2010 Investor Presentation

Steps to Completion of Iatan 2

§ Revenue Requirement Increase of $21.8 million (vs. Company Request of $50.9
Million)

§ 10.00% Authorized ROE (vs. Company Request of 10.75%); Equity Ratio of 49.66%

§ Iatan 2 in Service and Added to Rate Base

§ Total project disallowance of $20.4 million of budgeted costs ($5.1 million
KCP&L Kansas jurisdictional); GXP recognized $4.0 million pre-tax loss in
3Q10 associated with a portion of the disallowed costs

§ Minimal Iatan 1 Environmental Project Disallowance

§ Kansas Jurisdictional Rate Base of $1.781 Billion

§ Requested Environmental Rider Denied

§ New Rates Effective 12/1/10

Fall 2010 Investor Presentation

KCP&L Kansas Rate Case Summary

Jurisdiction	Requested Increase	Requested ROE	Rate Base	Rates Effective	Decision
KCP&L - MO	$92.1	11.00%	2,122.8	5/4/2011	Spring 2011
GMO - MPS	$75.8	11.00%	1,468.7	6/4/2011	Spring 2011
GMO - L&P	$22.1	11.00%	422.0	6/4/2011	Spring 2011
Total	$190.0		$4,013.5

(in $ millions)

Fall 2010 Investor Presentation

Missouri Rate Case Summary

Filed MO
Rate Cases

6/4/10

In-service Testing
Started 8/1/10

New Tariffs

Effective

KCP&L MO

5/4/11

KCP&L KS

Hearings

8/16/10 - 9/3/10

KCP&L MO
Hearings

1/18/11- 2/4/11

JUN

New KS Tariffs
Effective

12/1/10

New Tariffs

Effective GMO

6/4/11

JULY

AUG

SEPT

OCT

NOV

DEC

JAN

MAR

FEB

MAY

APR

JUN

MO True-up

Date for Both
KCP&L MO
and GMO
12/31/10

GMO Hearings

2/14/11- 2/18/11

Fall 2010 Investor Presentation

Rate Case Timeline

Strength at the Core

Tier 1

1st Quartile

Tier 2

2nd Quartile

Tier 3

3rd Quartile

Tier 4

4th Quartile

Source: 2010 JD Power Residential Study Results (3Q09 to 2Q10)

Fall 2010 Investor Presentation

Drivers of Change

Environmental

Rules

Natural Gas

Prices

Load Growth

Energy

Legislation

Financing

Emergent

Technologies

Fall 2010 Investor Presentation

Sustainable Resource Strategy
Change Creates Opportunity

Transmission &
Distribution
Opportunities

Opportunities
Resulting from
SmartGrid
Technologies

Generation Fleet
Optimization
Opportunities

Fall 2010 Investor Presentation

Financial Overview

Fall 2010 Investor Presentation

Electric Utility’s net income increased $52.3 million primarily driven by a $109.8 million increase in gross
margin* due to favorable impacts from weather and new retail rates

Increased number of shares outstanding primarily from the May 2009 equity offering resulted in dilution of
$0.02 per share

*Gross margin is defined and reconciled to GAAP operating revenues in the Appendix

Fall 2010 Investor Presentation

Electric Utility’s net income increased $98.7 million primarily driven by a $239.4 million increase in gross
margin* due to new retail rates and favorable impacts from weather

Other category earnings decreased $18.9 million primarily as a result of increased interest from the Equity
Units issued in 2009 and a $16 million benefit in 2009 related to the settlement of GMO’s 2003 - 2004
federal tax audit

Increased number of shares outstanding primarily from the May 2009 equity offering resulted in dilution of
$0.12 per share

*Gross margin is defined and reconciled to GAAP operating revenues in the Appendix

Fall 2010 Investor Presentation

Electric Utility Third Quarter

(millions except

where indicated)

Earnings

Earnings Per Share

Key Earnings Drivers:

+ Increased gross margin of $109.8 million primarily due to significantly warmer weather and full-
quarter impact of new retail rates which took effect in August and September 2009

– Increased operating expense of $12.1 million primarily driven by $5.2 million increase in general taxes
and $4.0 million Iatan 2 loss;

– Increased depreciation and amortization of $7.4 million, including $3.2 million of additional
amortization pursuant to KCP&L’s 2009 rate cases; and

– Decrease in non-operating income and expenses of $7.0 million, including $4.2 million less AFUDC
equity due to lower CWIP balances

Fall 2010 Investor Presentation

Key Earnings Drivers:

+ Increased gross margin of $239.4 million primarily due to new retail rates and favorable weather

– Increased operating expense of $40.7 million primarily due to planned plant outages, higher
general taxes and the Iatan 2 loss; and

– Increased depreciation and amortization of $28.2 million; including $17.2 million of additional
amortization pursuant to KCP&L’s 2009 rate cases

Earnings

Earnings Per Share

(millions except

where indicated)

Fall 2010 Investor Presentation

Electric Utility Year-to-Date

Electric Utility Segment

Retail MWh Sales by Customer Class - Third Quarter 2010

44%

12%

44%

Fall 2010 Investor Presentation

* Includes current maturities

Capital Structure

Great Plains Energy Debt ($ in millions)


	KCP&L		GMO (1)		GPE		Consolidated
	Amount	Rate (2)	Amount	Rate (2)	Amount	Rate (2)	Amount	Rate (2)
Short-term Debt	$304.5(3)	0.80%	$0.0	0.00%	$22.0	3.06%	$326.5	0.95%
Long-term Debt(4)	$1,780.0	6.13%	$1,020.1	9.88%	$636.9	7.57%	$3,437.0	7.47%
Total	$2,084.5	5.35%	$1,020.1	9.88%	$658.9	7.42%	$3,763.5	6.89%

Secured debt = $862.3 (23%), Unsecured debt = $2,901.2 (77%)

(1) GPE guarantees substantially all of GMO’s debt

(2) Weighted Average Rates - excludes premium/discounts and fair market value adjustments; includes full Equity Units coupon (12%) for GPE

(3) Includes fully-drawn KCP&L A/R Securitization facility of $95 million

(4) Includes current maturities of long-term debt

Fall 2010 Investor Presentation

Positioned for Long-term Earnings Growth

• Diligently pursue constructive outcomes in current rate cases

• Continue to deliver on GMO synergies and move toward Tier
1 costs across the organization

• Evaluate future opportunities through Sustainable Resource
Strategy and continue to advocate on behalf of our
shareholders, customers, and communities

Fall 2010 Investor Presentation

Great Plains Energy

Fall 2010 Investor Presentation

Appendix

3Q 2010

Gross Margin Reconciliation

Fall 2010 Investor Presentation

Gross margin is a financial measure that is not calculated in accordance with generally accepted accounting principles
(GAAP). Gross margin, as used by Great Plains Energy, is defined as operating revenues less fuel, purchased power and
transmission of electricity by others. The Company’s expense for fuel, purchased power and transmission of electricity by
others, offset by wholesale sales margin, is subject to recovery through cost adjustment mechanisms, except for KCP&L’s
Missouri retail operations. As a result, operating revenues increase or decrease in relation to a significant portion of these
expenses. Management believes that gross margin provides a more meaningful basis for evaluating the Electric Utility
segment’s operations across periods than operating revenues because gross margin excludes the revenue effect of
fluctuations in these expenses. Gross margin is used internally to measure performance against budget and in reports for
management and the Board of Directors. The Company’s definition of gross margin may differ from similar terms used by
other companies. A reconciliation to GAAP operating revenues is provided in the table above.

Fall 2010 Investor Presentation