Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Values of open positions for derivative instruments

The notional and recorded fair values of open positions for derivative instruments are summarized in the following table.  The fair values of these derivatives are recorded on the consolidated balance sheets.  The fair values below are gross values before netting agreements and netting of cash collateral.

	September 30 2012					December 31 2011
	Notional Contract Amount		Fair Value			Notional Contract Amount		Fair Value
Great Plains Energy	(millions)
Futures contracts
Cash flow hedges	$	1.0	$	(0.2	)	$	2.0	$	(0.5	)
Non-hedging derivatives	16.3		(1.9		)	23.6		(5.0		)
Forward contracts
Non-hedging derivatives	70.3		6.8			97.3		7.8
Option contracts
Non-hedging derivatives	—		—			0.4		—
KCP&L
Futures contracts
Cash flow hedges	$	1.0	$	(0.2	)	$	2.0	$	(0.5	)

Fair value of open derivative positions, gross values before netting agreements and netting of cash collatral

The fair values of Great Plains Energy's and KCP&L's open derivative positions are summarized in the following tables.  The tables contain both derivative instruments designated as hedging instruments as well as non-hedging derivatives under GAAP.  The fair values below are gross values before netting agreements and netting of cash collateral.

Great Plains Energy
	Balance Sheet	Asset Derivatives			Liability Derivatives
September 30, 2012	Classification	Fair Value			Fair Value
Derivatives Designated as Hedging Instruments			(millions)
Commodity contracts	Derivative instruments		$	—		$	0.2
Derivatives Not Designated as Hedging Instruments
Commodity contracts	Derivative instruments		7.2			2.3
Total Derivatives			$	7.2		$	2.5
December 31, 2011
Derivatives Designated as Hedging Instruments
Commodity contracts	Derivative instruments		$	—		$	0.5
Derivatives Not Designated as Hedging Instruments
Commodity contracts	Derivative instruments		7.8			5.0
Total Derivatives			$	7.8		$	5.5

KCP&L
	Balance Sheet	Asset Derivatives			Liability Derivatives
September 30, 2012	Classification	Fair Value			Fair Value
Derivatives Designated as Hedging Instruments			(millions)
Commodity contracts	Derivative instruments		$	—		$	0.2
December 31, 2011
Derivatives Designated as Hedging Instruments
Commodity contracts	Derivative instruments		$	—		$	0.5

Gain (loss) recognized in other comprehensive income or earnings for interest rate and commodity hedges

The following tables summarize the amount of gain (loss) recognized in OCI or earnings for interest rate and commodity hedges.

Great Plains Energy
Derivatives in Cash Flow Hedging Relationship
					Gain (Loss) Reclassified from
					Accumulated OCI into Income
					(Effective Portion)
	Amount of Gain  (Loss) Recognized in OCI on Derivatives  (Effective Portion)				Income Statement Classification	Amount
Three Months Ended September 30, 2012	(millions)					(millions)
Interest rate contracts		$	—		Interest charges	$	(5.0	)
Commodity contracts		0.1			Fuel	(0.5		)
Income tax expense		(0.1		)	Income tax benefit	2.1
Total		$	—		Total	$	(3.4	)
Year to Date September 30, 2012
Interest rate contracts		$	—		Interest charges	$	(15.1	)
Commodity contracts		(0.1		)	Fuel	(0.5		)
Income tax benefit		—			Income tax benefit	6.0
Total		$	(0.1	)	Total	$	(9.6	)
Three Months Ended September 30, 2011
Interest rate contracts		$	—		Interest charges	$	(5.1	)
Commodity contracts		(0.1		)	Fuel	(0.1		)
Income tax benefit		0.1			Income tax benefit	2.1
Total		$	—		Total	$	(3.1	)
Year to Date September 30, 2011
Interest rate contracts		$	(5.3	)	Interest charges	$	(11.9	)
Commodity contracts		(0.2		)	Fuel	(0.1		)
Income tax benefit		2.2			Income tax benefit	4.7
Total		$	(3.3	)	Total	$	(7.3	)

KCP&L
Derivatives in Cash Flow Hedging Relationship
					Gain (Loss) Reclassified from
					Accumulated OCI into Income
					(Effective Portion)
	Amount of Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)				Income Statement Classification	Amount
Three Months Ended September 30, 2012	(millions)					(millions)
Interest rate contracts		$	—		Interest charges	$	(2.2	)
Commodity contracts		0.1			Fuel	(0.5		)
Income tax expense		(0.1		)	Income tax benefit	1.0
Total		$	—		Total	$	(1.7	)
Year to Date September 30, 2012
Interest rate contracts		$	—		Interest charges	$	(6.6	)
Commodity contracts		(0.1		)	Fuel	(0.5		)
Income tax benefit		—			Income tax benefit	2.7
Total		$	(0.1	)	Total	$	(4.4	)
Three Months Ended September 30, 2011
Interest rate contracts		$	—		Interest charges	$	(2.1	)
Commodity contracts		(0.1		)	Fuel	(0.1		)
Income tax benefit		0.1			Income tax benefit	0.9
Total		$	—		Total	$	(1.3	)
Year to Date September 30, 2011
Interest rate contracts		$	—		Interest charges	$	(6.5	)
Commodity contracts		(0.2		)	Fuel	(0.1		)
Income tax benefit		0.1			Income tax benefit	2.6
Total		$	(0.1	)	Total	$	(4.0	)

Gain (loss) recognized in a regulatory balance sheet account or earnings for utility commodity hedges

The following table summarizes the amount of gain (loss) recognized in a regulatory balance sheet account or earnings for GMO utility commodity hedges.  GMO utility commodity derivatives fair value changes are recorded to either a regulatory asset or liability consistent with MPSC regulatory orders.

Great Plains Energy
Derivatives in Regulatory Account Relationship
					Gain (Loss) Reclassified from
					Regulatory Account
	Amount of Gain (Loss) Recognized in Regulatory Account on Derivatives				Income Statement  Classification	Amount
Three Months Ended September 30, 2012	(millions)					(millions)
Commodity contracts		$	0.9		Fuel	$	(2.8	)
Total		$	0.9		Total	$	(2.8	)
Year to Date September 30, 2012
Commodity contracts		$	(1.8	)	Fuel	$	(5.5	)
Total		$	(1.8	)	Total	$	(5.5	)
Three Months Ended September 30, 2011
Commodity contracts		$	(2.2	)	Fuel	$	(0.6	)
Total		$	(2.2	)	Total	$	(0.6	)
Year to Date September 30, 2011
Commodity contracts		$	(3.5	)	Fuel	$	(3.5	)
Total		$	(3.5	)	Total	$	(3.5	)

Accumulated other comprehensive income related to cash flow hedges

The amounts recorded in accumulated OCI related to the cash flow hedges are summarized in the following table.

	Great Plains Energy								KCP&L
	September 30 2012				December 31 2011				September 30 2012				December 31 2011
		(millions)
Current assets		$	10.8			$	11.3			$	10.8			$	11.3
Current liabilities		(73.6		)		(89.5		)		(55.1		)		(62.5		)
Noncurrent liabilities		(0.1		)		(0.2		)		(0.1		)		(0.2		)
Deferred income taxes		24.5				30.5				17.3				20.0
Total		$	(38.4	)		$	(47.9	)		$	(27.1	)		$	(31.4	)