Westar see high profits from higher rates

By The Mercury

Westar Energy, Inc. announced earnings of $67 million, or $0.53 per share, for the second quarter 2013 compared with earnings of $61 million, or $0.48 per share, for the second quarter 2012. Earnings for the six months ended June 30 were $118 million, or $0.93 per share, compared with $89 million, or $0.70 per share, for th same period in 2012.

Higher net incomes for the three months ending June 30 was driven by continuing cost control measures and higher corporate-owned life insurance proceeds this year.

Higher net income for the six months ending June 30 was driven by primarily by higher prices and lower depreciation and general and administrative costs. The higher prices offset lower electric sales compared with last year because of milder weather and reduced overall usage by industrial customers.









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