RATE MATTERS AND REGULATION	6 Months Ended
Jun. 30, 2026
Regulated Operations [Abstract]
RATE MATTERS AND REGULATION	RATE MATTERS AND REGULATION State Corporation Commission of the State of Kansas (KCC) Proceedings Earnings Review and Sharing As part of the settlement agreement in Evergy Kansas Central's 2025 KCC rate case, Evergy Kansas Central agreed to participate in an earnings review surveillance report for each calendar year beginning 2025 through the time Evergy Kansas Central files its next general rate case and new base rates become effective as a result of that case. Under this mechanism, Evergy Kansas Central’s jurisdiction is required to refund customers 50% of annual earnings in excess of a 9.7% return on equity. Evergy Kansas Central filed its 2025 earnings calculation with the KCC in March 2026, which reflected no refund obligation. In July 2026, the KCC issued an order accepting Evergy Kansas Central's 2025 earnings calculation and determined that there was no refund obligation for 2025. As of June 30, 2026, Evergy Kansas Central estimates its 2026 earnings will not result in a refund obligation. The final refund obligation for 2026 will be decided by the KCC and could vary from current estimates. Evergy Kansas Central 2026 Transmission Delivery Charge (TDC) In March 2026, the KCC issued an order adjusting Evergy Kansas Central's retail prices to include updated transmission costs as reflected in the Federal Energy Regulatory Commission (FERC) transmission formula rate (TFR). The new prices became effective in May 2026 and are expected to increase Evergy Kansas Central's annual retail revenues by $16.8 million when compared to 2025. Evergy Metro 2026 TDC In March 2026, the KCC issued an order adjusting Evergy Metro's retail prices to include updated transmission costs as reflected in the FERC TFR. The new prices became effective in May 2026 and are expected to decrease Evergy Metro's annual retail revenues by $4.3 million when compared to 2025. Public Service Commission of the State of Missouri (MPSC) Proceedings Evergy Metro's 2026 Rate Case Proceeding In February 2026, Evergy Metro filed an application with the MPSC to request an increase to its retail revenues of approximately $140 million. Evergy Metro's request reflected a return on equity of 10.5% (with a capital structure composed of 52% equity) and increases related to the recovery of infrastructure investments made to improve reliability and enhance customer service and the update of expenses to current levels of spend. An evidentiary hearing in the case is scheduled to occur in October 2026 and new rates are expected to be effective in January 2027. Requests for Certificate of Convenience and Necessity (CCN) Missouri utilities must request a CCN from the MPSC to authorize them to build certain utility projects. The CCN process authorizes utilities to build projects and can provide assurance that the project is prudent and necessary. Investment in projects is dependent upon the granting by the MPSC of a CCN with reasonably acceptable terms. In May 2026, Evergy Metro filed an application for a CCN for its planned natural gas generation investment to construct and operate a 440 MW simple-cycle gas turbine electric generating facility to be located in Nodaway County, Missouri. In its application, Evergy Metro requested an order from the MPSC by December 2026. The plant is expected to begin operations in 2030. FERC Proceedings Evergy Kansas Central and Evergy Metro TFR Annual Update In October of each year, Evergy Kansas Central and Evergy Metro post an updated TFR that includes projected transmission capital expenditures and operating costs for the following year. This rate is the most significant component in the retail rate calculation for Evergy Kansas Central's and Evergy Metro's annual request with the KCC to adjust retail prices to include updated transmission costs through the TDC. The most recently updated TFR is expected to increase Evergy Kansas Central's annual transmission revenues by approximately $21.6 million and decrease Evergy Metro's annual transmission revenues by approximately $2.4 million, effective in January 2026. Evergy Kansas Central TFR Formal Complaint In February 2023, certain Evergy Kansas Central TFR customers submitted a formal complaint with FERC requesting the refund of over-collections related to the capital structure calculation in determining Evergy Kansas Central's Annual Transmission Revenue Requirement for the 2018 and 2019 rate years. As of June 30, 2026, and December 31, 2025, Evergy and Evergy Kansas Central had recorded a regulatory liability of $10.0 million and $9.7 million, respectively, related to the 2018 and 2019 rate year refund request. Evergy and Evergy Kansas Central are awaiting a response from FERC.

As part of the settlement agreement in Evergy Kansas Central's 2025 KCC rate case, Evergy Kansas Central agreed to participate in an earnings review surveillance report for each calendar year beginning 2025 through the time Evergy Kansas Central files its next general rate case and new base rates become effective as a result of that case. Under this mechanism, Evergy Kansas Central’s jurisdiction is required to refund customers 50% of annual earnings in excess of a 9.7% return on equity.

Evergy Kansas Central filed its 2025 earnings calculation with the KCC in March 2026, which reflected no refund obligation. In July 2026, the KCC issued an order accepting Evergy Kansas Central's 2025 earnings calculation and determined that there was no refund obligation for 2025. As of June 30, 2026, Evergy Kansas Central estimates its 2026 earnings will not result in a refund obligation. The final refund obligation for 2026 will be decided by the KCC and could vary from current estimates.

In March 2026, the KCC issued an order adjusting Evergy Kansas Central's retail prices to include updated transmission costs as reflected in the Federal Energy Regulatory Commission (FERC) transmission formula rate (TFR). The new prices became effective in May 2026 and are expected to increase Evergy Kansas Central's annual retail revenues by $16.8 million when compared to 2025.

In March 2026, the KCC issued an order adjusting Evergy Metro's retail prices to include updated transmission costs as reflected in the FERC TFR. The new prices became effective in May 2026 and are expected to decrease Evergy Metro's annual retail revenues by $4.3 million when compared to 2025.

In February 2026, Evergy Metro filed an application with the MPSC to request an increase to its retail revenues of approximately $140 million. Evergy Metro's request reflected a return on equity of 10.5% (with a capital structure composed of 52% equity) and increases related to the recovery of infrastructure investments made to improve reliability and enhance customer service and the update of expenses to current levels of spend. An evidentiary hearing in the case is scheduled to occur in October 2026 and new rates are expected to be effective in January 2027.

Missouri utilities must request a CCN from the MPSC to authorize them to build certain utility projects. The CCN process authorizes utilities to build projects and can provide assurance that the project is prudent and necessary. Investment in projects is dependent upon the granting by the MPSC of a CCN with reasonably acceptable terms.

In May 2026, Evergy Metro filed an application for a CCN for its planned natural gas generation investment to construct and operate a 440 MW simple-cycle gas turbine electric generating facility to be located in Nodaway County, Missouri. In its application, Evergy Metro requested an order from the MPSC by December 2026. The plant is expected to begin operations in 2030.

In October of each year, Evergy Kansas Central and Evergy Metro post an updated TFR that includes projected transmission capital expenditures and operating costs for the following year. This rate is the most significant component in the retail rate calculation for Evergy Kansas Central's and Evergy Metro's annual request with the KCC to adjust retail prices to include updated transmission costs through the TDC.

The most recently updated TFR is expected to increase Evergy Kansas Central's annual transmission revenues by approximately $21.6 million and decrease Evergy Metro's annual transmission revenues by approximately $2.4 million, effective in January 2026.

In February 2023, certain Evergy Kansas Central TFR customers submitted a formal complaint with FERC requesting the refund of over-collections related to the capital structure calculation in determining Evergy Kansas Central's Annual Transmission Revenue Requirement for the 2018 and 2019 rate years. As of June 30, 2026, and December 31, 2025, Evergy and Evergy Kansas Central had recorded a regulatory liability of $10.0 million and $9.7 million, respectively, related to the 2018 and 2019 rate year refund request. Evergy and Evergy Kansas Central are awaiting a response from FERC.