Evergy

As a regulated utility, Evergy’s pricing is set largely through rate cases and riders. That constrains pure pricing power but provides recoverability for prudent investments and a reasonable allowed return.

Kansas’ 2025 settlement referenced a 9.7 percent ROE for transmission delivery charges and approved an overall rate increase, while the new LLPS tariffs are designed to ensure new large loads pay their way. This is constructive but does not equate to unconstrained pricing.

On balance, we see moderate pricing latitude through regulatory frameworks, trackers and FERC TFR on transmission, tempered by affordability politics and scrutiny of new gas builds. Score reflects that balance and the potential for uplift as large‑load contributions scale under LLPS.