Cost IncreasesEvergy added ~$1.3B to its ’25-’29 capital plan, which now totals ~$17.5B, reflecting a 355MW CCGT in MO West and higher costs for planned Mullen Creek CT.
Credit MetricsFinancing needs could test credit metrics, but junior subordinated notes (JSNs) provide a means to mitigate the pressure on FFO to Debt ratios.
Valuation ConcernsThe implied valuation in Kansas appears overly punitive at a ~24% discount.