3. RECEIVABLES

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



	December 31
	2012			2011
Great Plains Energy	(millions)
Customer accounts receivable - billed	$	—		$	69.8
Customer accounts receivable - unbilled	58.3			82.4
Allowance for doubtful accounts - customer accounts receivable	(2.6		)	(2.5		)
Other receivables	98.8			81.5
Total	$	154.5		$	231.2
KCP&L
Customer accounts receivable - billed	$	—		$	16.4
Customer accounts receivable - unbilled	42.9			50.0
Allowance for doubtful accounts - customer accounts receivable	(1.5		)	(1.4		)
Intercompany receivables	40.0			38.7
Other receivables	81.8			69.2
Total	$	163.2		$	172.9

Great Plains Energy's and KCP&L's other receivables at December 31, 2012 and 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 and GMO sell all of their retail electric accounts receivable to their wholly owned subsidiaries, KCP&L Receivables Company and GMO Receivables Company, respectively, which in turn sell an undivided percentage ownership interest in the accounts receivable to Victory Receivables Corporation, an independent outside investor. 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 December 31, 2012 and 2011, Great Plains Energy's accounts receivable pledged as collateral and the corresponding short-term collateralized note payable were $174.0 million and $95.0 million, respectively. At December 31, 2012 and 2011, KCP&L's accounts receivable pledged as collateral and the corresponding short-term collateralized note payable were $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.



2012	KCP&L				KCP&L Receivables Company				Consolidated KCP&L				GMO				GMO Receivables Company				Consolidated Great Plains Energy
	(millions)
Receivables (sold) purchased		$	(1,436.0	)		$	1,436.0			$	—			$	(597.8	)		$	597.8			$	—
Gain (loss) on sale of accounts receivable ^(a)		(18.2		)		18.3				0.1				(7.6		)		6.6				(0.9		)
Servicing fees received (paid)		2.5				(2.5		)		—				0.9				(0.9		)		—
Fees paid to outside investor		—				(1.2		)		(1.2		)		—				(0.5		)		(1.7		)
Cash from customers (transferred) received		(1,452.4		)		1,452.4				—				(524.0		)		524.0				—
Cash received from (paid for) receivables purchased		1,434.2				(1,434.2		)		—				517.5				(517.5		)		—
Interest on intercompany note received (paid)		0.3				(0.3		)		—				0.1				(0.1		)		—



2011		KCP&L				KCP&L Receivables Company				Consolidated KCP&L
	(millions)
Receivables (sold) purchased			$	(1,415.6	)		$	1,415.6			$	—
Gain (loss) on sale of accounts receivable ^(a)			(17.9		)		17.7				(0.2		)
Servicing fees received (paid)			2.6				(2.6		)		—
Fees paid to outside investor			—				(1.2		)		(1.2		)
Cash from customers (transferred) received			(1,412.4		)		1,412.4				—
Cash received from (paid for) receivables purchased			1,394.7				(1,394.7		)		—
Interest on intercompany note received (paid)			0.5				(0.5		)		—

^(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.