The Average Payment Plan can help reduce your high bills in summer and winter and make it easier to manage your monthly bill. The plan allows you to pay a monthly bill on the average cost of your most recent 12-month period. The amount due may vary slightly month to month but if you were signed up for Average Payment, your bill for this month would have only been Label and then every bill in the coming months would be close to that same amount. It’s not too late to sign up for your Label bill.
For more information about the Average Pay Program and how it can help reduce high bill surprises, visit our Average Payment Plan page
Topeka, Kan., Feb. 27, 2017 – Westar Energy today priced $300 million of 10-year bonds at an interest rate of 3.1%, which is among the lowest rate on record.
“For the second time in a few months, we have issued Westar bonds at the lowest interest rates since 1949,” said Tony Somma, senior vice president, chief financial officer and treasurer. “We were delighted to see this continued expression of lender confidence in Westar’s long-term credit strength.”
Demand for the bonds exceeded the amount the company sought by a factor of three, with investors expressing interest for up to $1.2 billion in Westar Energy bonds, although the company only sought $300 million.
“The high level of demand and favorable pricing show investors are confident in Westar Energy as a company, both as a stand-alone utility and as a prospective subsidiary of Great Plains Energy, following the merger,” said Mark Ruelle, president and chief executive officer. “Low borrowing costs help us keep utility rates affordable, as interest expense is a significant component of the cost of providing electricity.”
The closing of the offering is scheduled to occur March 6, subject to satisfaction of customary closing conditions.
The favorable pricing is the second instance since the proposed acquisition of Westar Energy by Great Plains Energy was announced last year. In June 2016, Westar Energy issued green bonds, which are used exclusively to finance environmentally friendly projects, at 2.55%.
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Westar Energy, Inc. (NYSE: WR) is Kansas' largest electric utility. For more than a century, we have provided Kansans the safe, reliable electricity needed to power their businesses and homes. Every day our team of professionals takes on projects to generate and deliver electricity, protect the environment and provide excellent service to our nearly 704,000 customers. Westar has 7,800 MW of electric generation capacity fueled by coal, uranium, natural gas, wind, sun and landfill gas. We are also a leader in electric transmission in Kansas. Our innovative customer service programs include mobile-enabled customer care, expanding use of smart meters and paving the way for electric vehicle adoption. Our employees live, volunteer and work in the communities we serve.
For more information about Westar Energy, visit us on the Internet at http://www.WestarEnergy.com. Westar Energy is on Facebook: www.Facebook.com/westarenergy and Twitter: www.Twitter.com/WestarEnergy.
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