Evergy Kansas Central 8-K Westar Energy Announces Second Quarter 2010 Results

Exhibit 99.1

Media contact:
Karla Olsen, director, corporate
communications Phone: 316.299.7463
karla.olsen@WestarEnergy.com   Investor contact: Bruce Burns, director, investor relations
Phone: 785.575.8227
bruce.burns@WestarEnergy.com

WESTAR ENERGY ANNOUNCES SECOND QUARTER 2010 RESULTS

TOPEKA, Kan., August 4, 2010 — Westar Energy, Inc. (NYSE:WR) today announced earnings of $53 million, or $0.47 per share, for the second quarter 2010 compared with earnings of $38 million, or $0.35 per share, for the second quarter 2009. Earnings for the six months ended June 30, 2010 were $84 million, or $0.75 per share, compared with $82 million, or $0.75 per share for the same period in 2009. Earnings for 2009 included federal tax benefits related to prior period activity which contributed $0.30 per share.

Following is a reconciliation of basic earnings per share:

	Three Months Ended				Six Months Ended
	June 30, 2010		June 30, 2009		June 30, 2010		June 30, 2009
Earnings available from continuing operations	$	0.47	$	0.35	$	0.75	$	0.45
Discontinued operations, net of tax		—		—		—		0.30
Earnings per share, basic	$	0.47	$	0.35	$	0.75	$	0.75

Per share results for the both periods in 2010 reflect more shares outstanding as a result of the company having issued shares to fund capital investments.

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Income from continuing operations for the second quarter 2010 and six months ended June 30, 2010 increased $16 million and $37 million, respectively, compared with the same periods last year, due principally to higher retail revenues and lower operating and maintenance expense. Operating and maintenance expense was lower due primarily to the adoption in 2010 of an accounting pronouncement that requires the consolidation of variable interest entities, and a reduction in a liability for environmental remediation costs associated with assets the company no longer owns. Lower investment earnings and higher income tax expense partially offset these factors for the quarter, while higher income tax, interest and depreciation and amortization expenses served to partially offset the aforementioned factors for the six months ended June 30, 2010.

Earnings Guidance

The company affirmed its 2010 earnings guidance of $1.65 to $1.80 per share. The company has posted to its website a summary of factors it considers to be principal drivers and adjustments used in arriving at earnings guidance. The summary is located under Investor Presentations within the Investors section of the company website atwww.WestarEnergy.com.

Conference Call and Additional Company Information

Westar Energy management will host a conference call Thursday, August 5 with the investment community at 10:00 a.m. ET (9:00 a.m. CT). Investors, media and the public may listen to the conference call by dialing 888-396-2298, participant code 39364897. A webcast of the live conference call will be available atwww.WestarEnergy.com.

Members of media are invited to listen to the conference call and then contact Karla Olsen with any follow-up questions.

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This earnings announcement, a package of detailed second quarter 2010 financial information, the company’s quarterly report on Form 10-Q for the period ended June 30, 2010 filed with the Securities and Exchange Commission on or about August 4, 2010, and other filings the company has made with the Securities and Exchange Commission are available on the company’s website atwww.WestarEnergy.com.

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Westar Energy, Inc. (NYSE: WR) is the largest electric utility in Kansas, providing electric service to about 685,000 customers in the state. Westar Energy has about 6,800 megawatts of electric generation capacity and operates and coordinates more than 35,000 miles of electric distribution and transmission lines.

For more information about Westar Energy, visit us on the Internet athttp://www.WestarEnergy.com.

Forward-looking statements: Certain matters discussed in this news release are “forward-looking statements.” The Private Securities Litigation Reform Act of 1995 has established that these statements qualify for safe harbors from liability. Forward-looking statements may include words like “believe,” “anticipate,” “target,” “expect,” “pro forma,” “estimate,” “intend,” “guidance” or words of similar meaning. Forward-looking statements describe future plans, objectives, expectations or goals. Although Westar Energy believes that its expectations are based on reasonable assumptions, all forward-looking statements involve risk and uncertainty. The factors that could cause actual results to differ materially from these forward-looking statements include those discussed herein as well as (1) those discussed in the company’s Annual Report on Form 10-K for the year ended Dec. 31, 2009 (a) under the heading, “Forward-Looking Statements,” (b) in ITEM 1A. Risk Factors, (c) in ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and (d) in ITEM 8. Financial Statements and Supplementary Data: Notes 13 and 15; (2) those discussed in the company’s Quarterly Report on Form 10-Q for the period ended June 30, 2010 (a) in ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (b) in Part I, Financial Information, ITEM 1. Financial Statements: Notes 7 and 8; and (3) other factors discussed in the company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date such statement was made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement was made.

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Attachment 1

WESTAR ENERGY, INC.

CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)

(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

	Three Months Ended June 30,								Six Months Ended June 30,
	2010			2009		Change			2010			2009		Change
Retail	$	370,692		$	355,041	$	15,651		$	703,936		$	645,702	$	58,234
Wholesale		78,999			65,651		13,348			161,747			151,396		10,351
Transmission		36,314			41,172		(4,858	)		72,943			68,069		4,874
Other		9,176			5,948		3,228			16,385			24,412		(8,027	)
Total Revenues		495,181		$	467,812		27,369			955,011			889,579		65,432
Fuel and purchased power		137,116			120,508		16,608			270,916			261,152		9,764
Operating and maintenance		121,810			139,810		(18,000	)		242,983			261,978		(18,995	)
Depreciation and amortization		67,107			63,814		3,293			134,037			122,028		12,009
Selling, general and administrative		48,154			53,638		(5,484	)		94,080			101,619		(7,539	)
Total Operating Expenses		374,187			377,770		(3,583	)		742,016			746,777		(4,761	)
Income from Operations		120,994			90,042		30,952			212,995			142,802		70,193
Other (expense) income		(2,017	)		4,134		(6,151	)		(3,900	)		2,037		(5,937	)
Interest expense		43,289			40,094		3,195			87,905			75,170		12,735
Income tax expense		21,158			15,696		5,462			34,979			20,098		14,881
Income from Continuing Operations		54,530			38,386		16,144			86,211			49,571		36,640
Results of discontinued operations, net of tax		—			—		—			—			32,978		(32,978	)
Net Income		54,530			38,386		16,144			86,211			82,549		3,662
Less: Net income attributable to noncontrolling interests		1,219			—		1,219			2,220			—		2,220
Net income attributable to Westar Energy		53,311			38,386		14,925			83,991			82,549		1,442
Preferred dividends		242			242		—			485			485		—
Net Income Attributable to Common Stock	$	53,069		$	38,144	$	14,925		$	83,506		$	82,064	$	1,442
Basic Earnings Per Share:
Earnings available from continuing operations	$	0.47		$	0.35	$	0.12		$	0.75		$	0.45	$	0.30
Discontinued operations, net of tax		—			—		—			—			0.30		(0.30	)
Earnings per common share, basic	$	0.47		$	0.35	$	0.12		$	0.75		$	0.75	$	—
Average equivalent common shares outstanding		111,523			109,539					111,225			109,435
Dividends declared per share	$	0.31		$	0.30	$	0.01		$	0.62		$	0.60	$	0.02