Release Date: February 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: What's the timeline for finalizing agreements for the 1.6 gigawatts of new load, and when can we expect updates on growth rates? A: David Campbell, CEO: We expect announcements later this year as discussions are advancing well. Typically, we provide updates on our plan in the third quarter call, but this will depend on customer activity. We aim to finalize agreements over the course of the year.
Q: Regarding the Kansas rate case, what are the next steps for the capital structure issue? A: David Campbell, CEO: The commission decided to address the capital structure issue in the body of the rate case. We aim to reach a constructive settlement, similar to last time, and will focus on addressing this issue as part of the settlement discussions.
Q: How do you plan to develop the associated generation for the new load, and what is the timeline for this? A: David Campbell, CEO: We have a plan to serve the new load with transmission and generation capacity. Our capital plan includes a combined cycle gas turbine (CCGT) coming online in 2030. We are developing a transmission and generation plan to serve the load, considering customer-specific renewable generation options.
Q: Can you provide more details on the large load tariff and protections for existing customers? A: David Campbell, CEO: The tariff is designed to cover incremental costs and consider fixed system costs. Protections include minimum bill requirements, contract periods, and exit fees. We aim for a balanced framework that benefits both existing and new customers.
Q: What is the status and potential impact of Missouri's Senate Bill 4? A: David Campbell, CEO: The bill has passed the Senate and is now in the House. It includes provisions for new generation investments and CWIP for natural gas plants. If passed, it will support infrastructure investment and growth in Missouri. We expect resolution by May.
Q: How does the current generation plan align with the economic development pipeline? A: David Campbell, CEO: We have included 500 megawatts of demand from actively building customers in our forecast. We expect to have the capacity to serve the load by 2029, with additional generation requirements addressed in our integrated resource plans (IRPs).
Q: How would finalizing agreements with large load customers impact your equity needs? A: Bryan Buckler, CFO: Bringing additional large load customers online could significantly reduce equity needs, potentially by hundreds of millions of dollars over the five-year period, depending on the load growth realized.
Q: Why aren't you projecting growth above the 6% range despite increased CapEx and potential large load customers? A: David Campbell, CEO: We will incorporate the impact of new customer announcements into our plan as they occur. The increased CapEx primarily affects the out years, and we will update growth projections systematically as customer announcements are made.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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