Westar Energy which provides electricity to the Hutchinson area announced earnings of $67 million, or $0.53 per share, for the second quarter 2013 compared with earnings of $61 million, or $0.48 per share, for the second quarter 2012. Earnings for the six months
ended June 30, 2013 were $118 million, or $0.93 per share, compared with $89 million, or $0.70 per share, for the same period in 2012.
Higher net income for the three months ending June 30, 2013, was driven by continuing cost control measures and higher corporate-owned life insurance proceeds this year.
Higher net income for the six months ending June 30, 2013, was driven primarily by higher prices and lower depreciation and general and administrative costs. The higher prices offset lower electric sales compared with last year due principally to milder weather and reduced overall usage by industrial customers.