Great Plains Energy and Westar Energy merger sees one of the largest wind power providers in the US
The Kansas Corporation Commission and Missouri Public Service Commission have approved the merge of Great Plains Energy and Westar Energy.
The merger of the two firms, based in Kansas City and Topeka, was originally denied in April last year.
However, on the basis that the deal included no transaction debt or exchange of cash, the two companies have formed to make Evergy, Inc.
The combined equity of Great Plains and Westar, following a stock-for-stock merger of equals, is expected to be US$15bn, making Evergy one of the largest wind power providers in the US.
“As neighbors, KCP&L and Westar have served customers in Kansas and Missouri for more than 100 years,” remarked Terry Bassham, Chairman and CEO of Great Plains Energy.
“This merger allows us to be even more efficient as we continue providing excellent customer service while maintaining competitive prices.”
“We appreciate that regulators and shareholders recognize the value in combining the companies.”
The closing date of the deal is anticipated to be in June, following two years of trying to secure the merger.
Evergy will focus on renewable energy and will be able to provide half of all the energy required by the homes and businesses it provides for.
All but two UK regions failing on school energy efficiency
Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.
Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.
According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.
Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.
“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."
He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."
North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).
The Department for Education has issued 13 tips for reducing energy and water use in schools.