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.
Overview
Evergy Inc. operates as a regulated electric utility, delivering reliable electricity generation, transmission, distribution, and sales services to customers in eastern Kansas and western Missouri. Leveraging a diversified energy mix that encompasses renewable energy, fossil fuels, and nuclear power, Evergy has established a robust infrastructure that supports its extensive service territory. By integrating both traditional and renewable energy sources, the company offers a balanced, multifaceted approach to meeting modern energy demands.
Business Model and Operations
The company’s operations are organized through several strategic subsidiaries, each playing a vital role in executing its mission. These subsidiaries facilitate a segmented approach to service delivery, ensuring specialized focus on urban and suburban regions while optimizing the efficiency of the transmission network. Evergy’s operational framework supports core activities such as:
- Generation: Utilizing coal, natural gas, oil, nuclear sources alongside renewable resources such as wind, solar, and hydroelectric power.
- Transmission: Maintaining and operating an extensive network of transmission lines that ensure the efficient movement of electrical energy.
- Distribution: Managing both overhead and underground systems to reliably deliver power to residential, commercial, and industrial customers.
- Sales: Engaging a diverse customer base that includes municipalities, electric utilities, and individual consumers.
Energy Generation Mix
Evergy stands out for its balanced approach to energy generation. The company strategically combines various energy sources to not only ensure supply reliability but also to adapt to the evolving landscape of energy demands. Its portfolio includes:
- Conventional Energy: Traditional methods such as coal, natural gas, and oil which contribute to providing a stable baseline power supply.
- Nuclear Energy: A vital component in the energy mix, offering consistent and low-emission power generation.
- Renewable Energy: Investments in wind, solar, hydroelectric and other renewable options position the company as a significant supplier of sustainable power, reflecting a commitment to modern energy trends.
Infrastructure and Technical Expertise
The company’s extensive transmission and distribution network exemplifies its engineering and operational expertise. With thousands of circuit miles of both overhead and underground lines, Evergy ensures that electrical power is delivered reliably across diverse geographical terrains. This robust network is maintained through advanced technical practices and continuous investments in infrastructure improvement, underscoring the company’s commitment to service reliability and operational excellence.
Market Position and Industry Role
Within a competitive and heavily regulated sector, Evergy has positioned itself as a comprehensive utility provider that focuses on operational excellence and diversified energy production. The company’s geographical focus in Kansas and Missouri, combined with its integrated business model, enables it to cater to a wide variety of customers ranging from residential households to large industrial entities. Evergy’s operational maturity is evident in its methodical approach to managing a scale of operations that spans both traditional and innovative energy practices.
Regulatory Environment and Competitive Landscape
Operating in a regulated market, Evergy adheres strictly to local and federal guidelines governing energy production, safety, and environmental impact. This compliance not only minimizes risks but also establishes the company as a reliable, transparent, and accountable utility provider. While competitors may also focus on a mix of power generation and distribution, Evergy differentiates itself through its robust infrastructure, balanced energy mix, and a long-standing commitment to safety and community service.
Commitment to Operational Excellence
Evergy Inc. continues to leverage its operational efficiencies, technical capabilities, and diversified business model to sustain its role as an essential utility provider. Through methodical investment in technology and infrastructure, the company maintains rigorous operational standards that underscore its expertise. Its integrated approach allows for seamless coordination between generation, transmission, and distribution, which is crucial for maintaining high levels of service reliability throughout its vast service territory.
Spirit AeroSystems announced its transition to 100% wind-generated electricity at its Kansas headquarters. This initiative promotes environmental responsibility and aims for a 30% reduction in greenhouse gas emissions by 2030. The Wichita facility, employing around 10,000 staff, will source its wind power from a local wind farm involving 62 turbines and increase its global renewable electricity percentage to 75%. The project supports operational efficiency and competitiveness, aligning with Spirit's sustainability goals, while also benefiting the local economy through job creation.
Evergy, Inc. (NYSE: EVRG) will release its Q4 2021 earnings on February 25, 2022, before market open. The company will host a conference call and audio webcast at 9:00 a.m. Eastern to discuss the results. Supplemental financial information will be available on its website, and a replay of the call will be accessible from 1 p.m. Eastern, February 25, through March 11, 2022. Evergy serves 1.6 million customers in Kansas and Missouri and aims to provide clean, reliable energy, with half of its power from emission-free sources.
Evergy has submitted a rate review to the Missouri Public Service Commission, requesting a 5.2% increase for Missouri Metro customers and 3.85% for Missouri West customers. This marks the first base rate increase in over five years. The request follows savings from the 2018 merger, which exceeded projections, allowing the company to reduce the rate increase request by more than half. The proposed adjustments aim to improve reliability, customer service, and the transition to cleaner energy sources, while maintaining rates below the inflation rate over the past decade.
Evergy has proposed a suite of energy efficiency programs to the Kansas Corporation Commission, aimed at delivering $42 million in net bill savings for customers. The plan includes $13 million in assistance for low-income and rural households and aims to create jobs through community partnerships.
The company is also preparing to request an extension of its energy efficiency programs in Missouri, where it has previously helped over 370,000 residents save energy. Proposed Kansas programs are expected to begin in January 2023 and will require regulatory approval.
On November 8, Evergy participated in a ribbon-cutting ceremony for a new 1.92 MW solar array in Paragould, Arkansas. This system, operational since November 2021, utilizes bifacial solar panels and Schletter single-axis trackers to enhance efficiency, producing about 3.4 million kWh annually—enough to power over 200 homes for a year. Evergy has collaborated with Paragould Light Water & Cable for over a decade, securing a competitive bid to establish this solar project aimed at providing affordable, clean energy to the community.
Evergy, Inc. (NYSE: EVRG) reported third quarter 2021 earnings of $449 million, or $1.95 per share, surpassing $365 million, or $1.60 per share in Q3 2020. Adjusted EPS rose to $1.98 from $1.73 year-over-year. The company announced a 7% increase in its quarterly dividend to $0.5725 per share, reflecting confidence in its performance. Evergy has raised its 2021 GAAP EPS guidance to between $3.71 and $3.81 and adjusted EPS guidance to $3.50 to $3.60. The earnings growth was driven by warmer weather and increased retail sales, although weather-normalized demand decreased.
Evergy (NYSE: EVRG) has launched a Request for Proposals (RFP) seeking up to 1,000 megawatts (MW) of wind energy projects by 2026. Projects achieving commercial operation by mid-2024 or year-end 2025 will be prioritized. The RFP is open until November 23, 2021, with a focus on projects of at least 50 MW that interconnect to the Southwest Power Pool. This initiative supports Evergy's strategy to expand renewable energy and move towards net zero carbon emissions by 2045, leveraging production tax credits.
Evergy, Inc. (NYSE: EVRG) will release its third quarter 2021 earnings on November 3, 2021, before market open. The company will hold a quarterly conference call and audio webcast on the same day at 9:00 a.m. Eastern. Investors can join via phone at (888) 353-7071 or log onto investors.evergy.com. Supplemental financial information will be available on their website. A replay of the call can be accessed from 1:00 p.m. Eastern on November 3 through November 10, 2021.
Evergy, Inc. (NYSE: EVRG) is set to host a Virtual Investor Day on September 21, 2021, at 9:00 AM Eastern Time. The event will feature updates on the company's business strategy, operational highlights, sustainability profile, and financial outlook. Interested investors can access the webcast on investors.evergy.com. A Q&A session will follow the presentations. Evergy serves 1.6 million customers in Kansas and Missouri, with half of their energy sourced from emission-free resources, aiming for a reliable and environmentally friendly future.
Anterix (NASDAQ: ATEX) has signed a 20-year agreement with Evergy (NYSE: EVRG) for the use of its 900 MHz broadband spectrum across Evergy's service area in Kansas and Missouri. This lease, with two 10-year renewal options, aims to enhance Evergy's grid modernization by deploying a private wireless broadband communications network utilizing LTE technology. The partnership follows similar agreements with other utilities, facilitating a collaborative approach to smart grid applications and efficient energy delivery.
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