TOPEKA, Kan. — Westar Energy has announced earnings of $60 million, or $0.42 per share, for the first quarter 2017 compared with earnings of $66 million, or $0.46 per share, for the first quarter 2016.
Lower net income for the quarter, compared with last year, was driven by the effect of mild weather, resulting in lower residential and commercial sales. Also contributing to the lower net income was a decrease in corporate-owned life insurance income, higher depreciation expense due in part to the start of operations of the Western Plains Wind Farm, and higher distribution expense from taking advantage of the warmer winter weather to execute vegetation management strategy earlier in the year.