Utility commission criticizes hedge fund influence on Evergy

WICHITA, Kan. (AP) — Kansas utility regulators have issued an order requiring Evergy to explain and justify a plan to spend $10.4 billion on its electrical system and report quality of service measures on a quarterly basis amid concerns that the plan is designed largely to benefit a hedge fund investor. The Wichita Eagle reports that members of the Kansas Corporation Commission sent a strong signal Tuesday that they won’t tolerate efforts to increase shareholder profits at the expense of unreasonably high rates for Evergy’s 1 million Kansas customers. In a written statement, Evergy said it was reviewing the commission’s order before identifying “if there are appropriate next steps.”