Evergy Files Kansas Integrated Resource Plan
Evergy has filed its inaugural Integrated Resource Plan (IRP) with the Kansas Corporation Commission, committing to sustainability by retiring 1,200 MW of coal generation and adding 3,200 MW of renewable energy over the next decade. The plan aligns with Evergy's goal of a 70% reduction in carbon emissions by 2030 and net-zero emissions by 2045. The transition involves retiring specific coal plants and enhancing the flexibility of existing facilities. This IRP will guide energy strategies through 2024 and aims to ensure reliability while promoting cleaner energy resources.
- Plans to add 3,200 MW of renewable energy over the next 10 years.
- Commits to reducing carbon emissions 70% by 2030 and achieving net-zero by 2045.
- Includes a phased transition approach for resource planning to adapt to market changes.
- Anticipates coal plants will operate fewer hours, potentially impacting revenue.
Today, Evergy filed its first Integrated Resource Plan (IRP) with the Kansas Corporation Commission. The plan prioritizes sustainability, reliability and cost competitiveness with retirement of 1,200 megawatts of coal-based fossil generation and the addition of 3,200 MW of renewable generation in the next 10 years.
“We’re on a journey to a cleaner energy future, while balancing the highest priorities of reliability and affordability for our customers,” said David Campbell, president and chief executive officer. “Our coal-fired fossil plants are now more flexible than ever and frequently operate as a backup to renewable generation sources. This flexibility allows us to adapt to real-time needs – running fossil plants more when renewable availability is low or customer demand is high. This measured transition toward more sustainable resource options maintains the reliability our customers need.”
The filing includes the same forecasted generation additions and retirements announced in April when Evergy filed its IRP with the Missouri Public Service Commission. The transition toward more sustainable energy sources advances Evergy’s goal to reduce carbon emissions 70 percent by 2030 (relative to 2005 levels) and achieve net-zero carbon emissions by 2045, assuming technology, regulatory, and legislative enablers have advanced to facilitate this goal. Within the next three years, the company will retire its Lawrence (KS) Energy Center and add 700 MW of solar energy.
Continuing recent trends, Evergy expects its coal plants will run fewer hours as their energy is increasingly displaced by lower cost renewable resources. At the same time, the reliability challenges driven by the extreme weather of February 2021 demonstrated the value of dispatchable generation with fuel on the ground. The phased transition approach in the IRP provides Evergy the ability to adjust planned additions and retirements based on evolving market, technology, and policy dynamics. As the company’s older fossil-fueled plants near the end of their useful lives, Evergy will continue to responsibly manage these assets for the benefit of customers while allowing advancing and emerging technology to develop. Evergy will also continue its focus on people, offering opportunities for employees at retiring generation facilities to learn new skills and fill different roles at the company.
Today’s IRP is a triennial filing that establishes a clear implementation plan through the next triennial filing in 2024 and describes expectations for meeting longer-term customer energy needs through 2040. The Plan was developed through an extensive regulatory stakeholder process to meet the diverse needs of the company’s customers and communities. The IRP is central to Evergy’s Sustainability Transformation Plan (STP), the company’s strategic plan guiding decisions through 2024, and continues the company’s transition toward a more sustainable energy company. Click here to read Evergy’s 2021 IRP Overview and here to learn more about Evergy’s energy mix.
About Evergy, Inc.
Evergy, Inc. (NYSE: EVRG) serves approximately 1.6 million customers in Kansas and Missouri. We generate nearly half the power we provide to homes and businesses with emission-free sources. We support our local communities where we live and work and strive to meet the needs of customers through energy savings and innovative solutions.
Forward Looking Statements
Statements made in this release 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, statements relating to Evergy’s strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and capital investment goals; the outcome of legislative efforts and regulatory and legal proceedings; future energy demand; future power prices; plans with respect to existing and potential future generation resources; the availability and cost of generation resources and energy storage; target emissions reductions; and other matters relating to expected financial performance or affecting future operations. Forward-looking statements are often accompanied by forward-looking words such as “anticipates,” “believes,” “expects,” “estimates,” “forecasts,” “should,” “could,” “may,” “seeks,” “intends,” “proposed,” “projects,” “planned,” “target,” “outlook,” “remain confident,” “goal,” “will” or other words of similar meaning. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information.
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Evergy, Inc., Evergy Kansas Central, Inc. and Evergy Me
FAQ
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