New PSC Commissioner Could Improve Moat Outlook for Ameren and Great Plains
We are reaffirming our no-moat ratings and fair value estimates for Ameren Corp and Great Plains Energy of $53 per share and $28 per share, respectively, following the Jan. 3 start of a new legislative session for the Missouri General Assembly. The two utilities will again push for legislation to improve the regulatory framework that is among the worst in the country. For the past decade, Missouri utilities have sought legislation that would provide rate riders for expenses that now must wait fo...Great Plains Energy is a public utility holding company. The company's wholly owned direct subsidiaries with operations are as follows: Kansas City Power & Light Co., a regulated electric utility that provides electricity to customers primarily in Missouri and Kansas; and KCP&L Greater Missouri Operations Co., a regulated electric utility that provides electricity to customers in Missouri and regulated steam service to certain customers in St. Joseph, MO. The company also wholly owns GPE Transmission Holding Company, LLC (GPETHC), which owns 13.5% of Transource Energy, LLC, and focuses on developing electric transmission projects.
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