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KANSAS CITY, Mo. (AP) - Great Plains Energy Inc., the parent company of Kansas City Power & Light Co., said Friday the pending bankruptcy of Calpine Corp. could reduce next year's earnings by up to $4 million.
Calpine, a power producer and marketer based in San Jose, Calif., on Wednesday asked the U.S. Bankruptcy Court for the Southern District of New York for permission to reject eight power-supply agreements. Among those is a contract with Great Plains subsidiary Strategic Energy.
Great Plains said it has enough supply to cover the loss of the contract if the request is approved. Great Plains said it doesn't expect the loss to affect 2005 earnings.
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