Welcome to our dedicated page for Evergy news (Ticker: EVRG), a resource for investors and traders seeking the latest updates and insights on Evergy stock.
Evergy, Inc. (symbol: EVRG) is a prominent utility company headquartered in Kansas City, Missouri. Incorporated in 2017, Evergy, Inc. specializes in the generation, transmission, distribution, and sale of electricity across Kansas and Missouri. Serving approximately 1,604,300 customers, including residential, commercial, industrial, and municipal clients, Evergy stands as a key player in the U.S. energy market.
The company employs a diverse mix of energy sources to generate electricity. These include coal, nuclear, natural gas and oil, uranium, wind, hydroelectric, landfill gas, and solar energy as well as other renewable sources, underlining its commitment to sustainability and innovation. Evergy operates about 10,100 circuit miles of transmission lines, 39,700 circuit miles of overhead distribution lines, and 12,700 circuit miles of underground distribution lines, ensuring a reliable energy supply to its vast customer base.
Evergy’s major operating subsidiaries include Evergy Metro, Evergy Kansas Central, Evergy Missouri West, and Evergy Transmission Co. The company boasts a combined rate base of approximately $19 billion, with assets evenly distributed between Kansas, Missouri, and federal jurisdictions. Notably, Evergy is one of the largest suppliers of wind energy in the United States, reflecting its leadership in the renewable energy sector.
Recent achievements include significant investments in modernizing the power grid, enhancing energy efficiency programs, and expanding renewable energy projects. Current projects focus on sustainable energy solutions and technological advancements to meet the evolving energy demands of the future. Financially, Evergy maintains a strong and stable position, supported by strategic partnerships and a dedicated focus on innovation and customer service.
Through its comprehensive energy solutions and commitment to sustainability, Evergy continues to play a vital role in the region's development, offering reliable and efficient energy to millions while driving forward the transition to a greener and more resilient energy infrastructure.
Evergy (NASDAQ: EVRG) has filed a request with the Kansas Corporation Commission for a base rate review, its first in five years, to recover investments aimed at enhancing grid reliability and customer service. The proposed net revenue increase is $204 million (9.77%) for Evergy Kansas Central and $14 million (1.95%) for Evergy Kansas Metro. The company has maintained flat rates for Kansas customers over the past five years, despite cumulative inflation of 20%. Evergy cites $232 million in merger savings shared with customers and claims nearly $1 billion in cost efficiencies since the merger in 2018. The request reflects a significant reduction of 37% in the previously anticipated rate increase. If approved, average residential bills could rise by approximately $14.24 and $3.47 for the respective service areas starting December 2023.
Evergy, Inc. (NASDAQ: EVRG) will release its 2023 first quarter earnings on May 5, 2023, prior to market open. The company will also hold a conference call on the same day at 9:00 a.m. Eastern to discuss the earnings results. Investors can access supplemental financial information related to the quarter on the company's website, along with a replay of the conference call post-event. Evergy serves approximately 1.7 million customers in Kansas and Missouri, focusing on providing reliable, affordable, and sustainable energy. The firm generates about half of its power from carbon-free sources.
Evergy, Inc. (NASDAQ: EVRG) will hold its 2023 Annual Meeting of Shareholders on May 2, 2023, at 11:00 a.m. Eastern (10:00 a.m. Central). Shareholders can join virtually via www.virtualshareholdermeeting.com/EVRG2023. Key items on the agenda include the election of 11 Board of Directors members and other business matters specified in the meeting notice. Evergy serves 1.7 million customers in Kansas and Missouri, providing reliable, affordable, and sustainable energy. Approximately half of its power originates from carbon-free sources, underscoring the company's commitment to environmental responsibility.
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