3. RECEIVABLES

Great Plains Energy's and KCP&L's receivables are detailed in the following table.



	September 30 2012				December 31 2011
Great Plains Energy		(millions)
Customer accounts receivable - billed		$	27.7			$	69.8
Customer accounts receivable - unbilled		77.8				82.4
Allowance for doubtful accounts		(4.6		)		(2.5		)
Other receivables		117.7				81.5
Total		$	218.6			$	231.2
KCP&L
Customer accounts receivable - billed		$	28.9			$	16.4
Customer accounts receivable - unbilled		50.8				50.0
Allowance for doubtful accounts		(2.5		)		(1.4		)
Intercompany receivables		26.9				38.7
Other receivables		103.0				69.2
Total		$	207.1			$	172.9

Great Plains Energy's and KCP&L's other receivables at September 30, 2012, and December 31, 2011, consisted primarily of receivables from partners in jointly owned electric utility plants and wholesale sales receivables.

Sale of Accounts Receivable – KCP&L and GMO

KCP&L sells all of its retail electric accounts receivable to its wholly owned subsidiary, KCP&L Receivables Company, which in turn sells an undivided percentage ownership interest in the accounts receivable to Victory Receivables Corporation, an independent outside investor. On May 31, 2012, GMO entered into an agreement to sell all of its retail electric and steam service accounts receivable to its wholly owned subsidiary, GMO Receivables Company, which in turn sells an undivided percentage ownership interest in the accounts receivable to Victory Receivables Corporation.

Each of KCP&L Receivables Company's and GMO Receivables Company's sale of the undivided percentage ownership interest in accounts receivable to Victory Receivables Corporation is accounted for as a secured borrowing with accounts receivable pledged as collateral and a corresponding short-term collateralized note payable recognized on the balance sheets. At September 30, 2012, and December 31, 2011, Great Plains Energy's accounts receivable pledged as collateral and the corresponding short-term collateralized note payable was $190.0 million and $95.0 million, respectively. At September 30, 2012, and December 31, 2011, KCP&L's accounts receivable pledged as collateral and the corresponding short-term collateralized note payable was $110.0 million and $95.0 million, respectively.

KCP&L and GMO each sell their receivables at a fixed price based upon the expected cost of funds and charge-offs. These costs comprise KCP&L's and GMO's loss on the sale of accounts receivable. KCP&L and GMO service the receivables and receive annual servicing fees of 1.5% and 1.25%, respectively, of the outstanding principal amount of the receivables sold to KCP&L Receivables Company and GMO Receivables Company. KCP&L and GMO do not recognize a servicing asset or liability because management determined the collection agent fees earned by KCP&L and GMO approximate market value. KCP&L's agreement expires in September 2014 and allows for $110 million in aggregate outstanding principal amount at any time. GMO's agreement expires in September 2014 and allows for $80 million in aggregate outstanding principal during the period of June 1 through October 31 and $65 million in aggregate outstanding principal during the period of November 1 through May 31 of each year.

Information regarding KCP&L's sale of accounts receivable to KCP&L Receivables Company and GMO's sale of accounts receivable to GMO Receivables Company is reflected in the following tables.



		Three Months Ended September 30, 2012
	KCP&L				KCP&L Receivables Company				Consolidated KCP&L				GMO				GMO Receivables Company				Consolidated Great Plains Energy
		(millions)
Receivables (sold) purchased		$	(472.6	)		$	472.6			$	—			$	(341.7	)		$	341.7			$	—
Gain (loss) on sale of accounts receivable ^(a)		(6.0		)		5.8				(0.2		)		(4.3		)		3.4				(1.1		)
Servicing fees received (paid)		0.8				(0.8		)		—				0.5				(0.5		)		—
Fees paid to outside investor		—				(0.3		)		(0.3		)		—				(0.3		)		(0.6		)
Cash from customers (transferred) received		(466.1		)		466.1				—				(267.8		)		267.8				—
Cash received from (paid for) receivables purchased		460.4				(460.4		)		—				264.4				(264.4		)		—
Interest on intercompany note received (paid)		0.2				(0.2		)		—				0.1				(0.1		)		—



		Year to Date September 30, 2012
	KCP&L				KCP&L Receivables Company				Consolidated KCP&L				GMO				GMO Receivables Company				Consolidated Great Plains Energy
		(millions)
Receivables (sold) purchased		$	(1,134.7	)		$	1,134.7			$	—			$	(433.4	)		$	433.4			$	—
Gain (loss) on sale of accounts receivable ^(a)		(14.4		)		13.9				(0.5		)		(5.5		)		4.2				(1.8		)
Servicing fees received (paid)		1.9				(1.9		)		—				0.6				(0.6		)		—
Fees paid to outside investor		—				(0.9		)		(0.9		)		—				(0.4		)		(1.3		)
Cash from customers (transferred) received		(1,112.7		)		1,112.7				—				(332.5		)		332.5				—
Cash received from (paid for) receivables purchased		1,098.8				(1,098.8		)		—				328.3				(328.3		)		—
Interest on intercompany note received (paid)		0.3				(0.3		)		—				0.1				(0.1		)		—



		Three Months Ended September 30, 2011												Year to Date September 30, 2011
	KCP&L				KCP&L Receivables Company				Consolidated KCP&L				KCP&L				KCP&L Receivables Company				Consolidated KCP&L
		(millions)
Receivables (sold) purchased		$	(468.8	)		$	468.8			$	—			$	(1,108.4	)		$	1,108.4			$	—
Gain (loss) on sale of accounts receivable ^(a)		(5.9		)		5.8				(0.1		)		(14.0		)		13.6				(0.4		)
Servicing fees received (paid)		0.9				(0.9		)		—				2.0				(2.0		)		—
Fees paid to outside investor		—				(0.3		)		(0.3		)		—				(0.9		)		(0.9		)
Cash from customers (transferred) received		(463.4		)		463.4				—				(1,081.6		)		1,081.6				—
Cash received from (paid for) receivables purchased		457.6				(457.6		)		—				1,068.0				(1,068.0		)		—
Interest on intercompany note received (paid)		0.2				(0.2		)		—				0.4				(0.4		)		—

^(a) Any net gain (loss) is the result of the timing difference inherent in collecting receivables and over the life of the agreement will net to zero.