8-K

UNITED STATES

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) October 24, 2008

WESTAR ENERGY, INC.

(Exact name of registrant as specified in its charter)

KANSAS	1-3523	48-0290150
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification No.)

818 South Kansas Avenue, Topeka, Kansas	66612
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (785) 575-6300

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))

WESTAR ENERGY, INC.

Section 8. Other Events

Item 8.01. Other Events.

On October 24, 2008, we issued a press release announcing a settlement between all parties to our Kansas retail rate case. The settlement provides for a $130 million annual increase in rates and addresses certain other issues. The settlement is subject to execution of a definitive agreement and approval by the Kansas Corporation Commission.

A copy of a press release that discusses the rate case settlement in more detail is attached to this report and incorporated herein by this reference and is also available on our web site, http://www.WestarEnergy.com. The press release contains statements intended as “forward-looking statements” which are subject to cautionary statements about forward-looking statements set forth herein and therein.

Section 9. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.

Exhibit 99.1 Press Release dated October 24, 2008

Forward-looking statements: Certain matters discussed in this Current Report on Form 8-K are “forward-looking statements.” The Private Securities Litigation Reform Act of 1995 has established that these statements qualify for safe harbors from liability. Forward-looking statements may include words like we “believe,” “anticipate,” “expect,” “likely,” “estimate,” “intend” or words of similar meaning. Forward-looking statements describe our future plans, objectives, expectations or goals and are based on assumptions by the management of the Company as of the date of this document. If management’s assumptions prove incorrect or should unanticipated circumstances arise, the Company’s actual results could differ materially from those anticipated. These differences could be caused by a number of factors or a combination of factors including, but not limited to, those factors described under the headings “Forward-Looking Statements” and “Risk Factors” contained in the Company’s Annual Report on Form 10-K for the period ended December 31, 2007, and under the heading “Risk Factors” contained in the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2008, each as filed with the Securities and Exchange Commission. Readers are urged to consider such factors when evaluating any forward-looking statement, and the Company cautions you not to put undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date such statement was made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement was made except as required by applicable laws or regulations.

The information contained in this report is summary information that is intended to be considered in the context of our SEC filings and other public announcements that we may make, by press release or otherwise, from time to time. We disclaim any current intention to revise or update the information contained in this report, although we may do so from time to time as our management believes is warranted. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure.

SIGNATURE

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.

	Westar Energy, Inc.
Date: October 24, 2008	By:	/s/ Larry D. Irick
	Name:	Larry D. Irick
	Title:	Vice President, General Counsel and Corporate Secretary

EXHIBIT INDEX

Exhibit Number	Description of Exhibit
Exhibit 99.1	Press Release dated October 24, 2008

EX-99.1

Exhibit 99.1

	Media contact:
	Karla Olsen,
	director, corporate communications
	Phone: 888.613.0003
	FAX: 316.299.7569
	karla.olsen@WestarEnergy.com
	Investor contact:
	Bruce Burns,
	director, investor relations
	Phone: 785.575.8227
	bruce.burns@WestarEnergy.com

WESTAR ENERGY ANNOUNCES RATE CASE SETTLEMENT

KCC will be asked to approve settlement agreement

TOPEKA, Kan., Oct. 24, 2008 — Westar Energy, Inc. (NYSE:WR) today announced that all parties to its Kansas retail rate case have agreed to a settlement. The settlement, subject to the execution by all parties of a definitive settlement agreement and subsequent approval by the Kansas Corporation Commission (KCC), provides for a $130 million annual increase in rates and addresses other issues identified in the company’s rate case filing. The settlement represents an overall increase in rates of 11 percent, which is lower than the company’s requested increase of 15 percent. The settlement does not address the issue of consolidating the rates of Westar Energy North and Westar Energy South. That matter will be reserved for a hearing. The parties expect to file the executed settlement agreement, which will set forth the terms of the settlement, with the KCC in the next few days.

Among other provisions, the settlement recognizes Westar’s significant investment in new generating facilities, including wind energy. However, it requires Westar to forego any incentive return on that wind investment, something the company had again sought in its

Westar Energy announces rate case settlement, page 2 of 2

application. It also requires Westar to modify the fuel adjustment tariffs to reduce the volatility in customer bills associated with changes in fuel costs. The fuel adjustment tariffs will be changed to a quarterly update rather than the current monthly adjustment. The settlement provides a means for Westar to recover over five years the costs of restoring its system following last December’s record ice storm damage.

In the next several days, the KCC will establish a procedural schedule to consider the approval of the settlement agreement.

Westar Energy, Inc. (NYSE: WR) is the largest electric utility in Kansas, providing electric service to more than 675,000 customers in the state. Westar Energy has about 6,500 megawatts of electric generation capacity and operates and coordinates approximately 33,000 miles of electric distribution and transmission lines.

For more information about Westar Energy, visit us on the Internet at http://www.WestarEnergy.com.

Forward-looking statements: Certain matters discussed in this news release are “forward-looking statements.” The Private Securities Litigation Reform Act of 1995 has established that these statements qualify for safe harbors from liability. Forward-looking statements may include words like “believe,” “anticipate,” “target,” “expect,” “pro forma,” “estimate,” “intend,” “guidance” or words of similar meaning. Forward-looking statements describe future plans, objectives, expectations or goals. Although Westar Energy believes that its expectations are based on reasonable assumptions, all forward-looking statements involve risk and uncertainty. Therefore, actual results could vary materially from what we expect. Please review our Annual Report on Form 10-K for the period ended December 31, 2007 and our Quarterly Report on Form 10-Q for the period ended June 30, 2008 for important risk factors that could cause results to differ materially from those in any such forward-looking statements. Any forward-looking statement speaks only as of the date such statement was made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement was made except as required by applicable laws or regulations.