The Empire District Electric Company Announces Stipulation and Agreement Filings

The Empire District Electric Company EDE announced today stipulation and settlement agreement filings on separate matters in Missouri and Kansas. In Missouri, a joint settlement agreement was filed on November 15, 2011, relating to the Company's request for an Accounting Authority Order associated with the May 22 tornado. If approved by the Missouri Public Service Commission, the agreement will allow Empire to defer actual incremental operating and maintenance expenses associated with the repair, restoration, and rebuilding activities resulting from the tornado. In addition, depreciation related to the capital expenditures will be deferred and a carrying charge will be accrued. In the event that an electric rate request is filed in Missouri by June 1, 2013, a ten-year amortization of the deferral will begin. The settlement does not include deferral of the fixed cost component associated with the reduction in customers served by the Company. In Kansas, a joint settlement agreement was filed on November 10, 2011, relating to the Company's abbreviated rate case filed on June 17, 2011, requesting recovery of the remaining expenditures for Iata 1, Iatan 2, and Plum Point generating facilities. If approved by the Kansas Corporation Commission, the settlement will result in an increase in annual revenues of $1.25 million, or approximately 5.2 percent. This will result in a monthly increase of approximately $5.00, for a customer using 1,000 kilowatt hours of electricity.