Kansas Renewable Energy and Energy Efficiency Conference Wind 2007 RFP Update John Grimwade - Sr. Director Strategic Planning and Development September 26, 2007

Page 2 About KCP&L

Page 3 KCP&L’s Comprehensive Energy Plan provides a balanced approach to meeting the region’s energy needs

Page 4 Spearville Wind Energy facility

Page 5 Comprehensive Energy Plan – Renewable Energy Additions  KCP&L’s original plan had targeted for 200 MW of wind additions by the 2008 timeframe  Through the collaborative workshops this amount was reduced in the base Comprehensive Energy Plan to 100 MW with a commitment for the stakeholders to consider a second 100 MW in 2008.

Page 6 KCP&L’s 2007 Wind RFP  Multiple options were requested to address alternatives for location timing, quantity and ownership structure  Both Kansas and Missouri sites were requested  Minimum of 100 MW of wind powered generation to be on-line by October 1, 2008  Options for additional 300 MW of wind powered generation to be on-line by October 1, 2012  Asked for both PPA and Build/Transfer alternatives

Page 7 RFP Timeline  Issue Press Release and RFP March 29, 2007  RFP’s due to KCPL June 15, 2007  RFP Evaluation Process June - August, 2007  Seek Regulatory and Stakeholder consensus September – October, 2007  Contract Negotiations September - October, 2007  Projected Construction Start Date 2Q, 2008  Projected Last Turbine On-line Date 4Q, 2008  Post 2008 Construction Activity Dependent Upon RFP Proposals

Page 8 KCP&L Received strong interest for projects to be completed in 2008 and from Missouri Proposals Received –Two proposals were received that offered a 2008 on-line date –Five proposals were received that offered a 2009 or later on-line date Kansas Proposals Received –Nine proposals were received that offered a 2008 or 2009 on-line date –Seven proposals were received that offered a 2009 or later on-line date

Page 9 Screening Methodology – 2008 On-line Proposals  Preliminary Screening High Level Analysis – Evaluated all proposals based on multiple factors Assessed unacceptable risk for completion or operation of the project BTA Proposals – Moved to final screening evaluation if they passed the High Level Analysis PPA Financial Analysis – Ranked the PPA proposals from lowest cost to highest cost for proposals in each state then performed High Level Analysis  Transmission Service Impact Analysis – KCPL hired an independent engineering firm to perform a load flow analysis on those proposals that were moved to the final screening evaluation process  Final Screening – Using the financial and generational data provided in each proposal, along with the results of the transmission service impact analysis, a 20-year Net Present Value Revenue Requirements (NPVRR) analysis was performed to evaluate the impact of each proposal against a No Wind base case.

Page 10 The cost to install 100 MW of new wind capacity has increased 55% over 2003 cost estimates

Page 11 Financial Analysis of 2008 vs Projects

Page 12 Required Renewables Estimate - Missouri & Kansas Utility Under Bingaman Renewable Capacity Required Cap Factors) YearRPS %Retail LoadReq. Renew30%35%40%45%50% 20050%160,770, %166,356, %168,257, %172,555, %174,881, %178,013,0696,675,4902,5402,1771,9051,6931, %181,277,8436,797,9192,5872,2171,9401,7241, %184,466,3356,917,4882,6322,2561,9741,7551, %187,444,19914,058,3155,3494,5854,0123,5663, %190,491,24914,286,8445,4364,6604,0773,6243, %193,558,72014,516,9045,5244,7354,1433,6833, %196,381,88614,728,6415,6054,8044,2033,7363, %199,248,63422,415,4718,5297,3116,3975,6865, %202,165,46222,743,6148,6547,4186,4915,7705, %205,125,92823,076,6678,7817,5276,5865,8545, %208,132,72131,219,90811,88010,1838,9107,9207,128

Page 13 And the winner is???