TOPEKA, Kan. (AP) Kansas Corporation Commission members say they will scrutinize Westar Energy’s contention that its shareholders need to make a 10 percent return on their investment in the utility.
The issue was raised during testimony Monday and Tuesday concerning the utility’s request for a rate increase.
A settlement reached between Westar, the KCC staff and the company’s large commercial and industrial customers would give Westar a $50 million rate increase. The request includes a shareholder return of 10 percent. The utility says it needs that rate to attract and keep investors.
A consumer advocacy group is challenging the proposed settlement, which would raise residential utility bills between 5 and 6.5 percent.
The Wichita Eagle reports the commission is required to set Westar’s new rates by April 23.