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

Exhibit 99.1

WESTAR ENERGY ANNOUNCES THIRD QUARTER 2010 RESULTS

TOPEKA, Kan., October 28, 2010 — Westar Energy, Inc. (NYSE:WR) today announced earnings of $115 million, or $1.02 per share, for the third quarter 2010 compared with earnings of $81 million, or $0.73 per share, for the third quarter 2009. Earnings for the nine months ended September 30, 2010 were $198 million, or $1.77 per share, compared with $163 million, or $1.48 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. The company noted the primary driver of higher earnings was much warmer summer weather this year compared with last year.

Following is a reconciliation of basic earnings per share:

	Three Months Ended				Nine Months Ended
	Sept. 30, 2010		Sept. 30, 2009		Sept. 30, 2010		Sept. 30, 2009
Earnings available from continuing operations	$	1.02	$	0.73	$	1.77	$	1.18
Discontinued operations, net of tax		-		-		-		0.30
Earnings per share, basic	$	1.02	$	0.73	$	1.77	$	1.48

Per share results for 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 third quarter 2010 and nine months ended September 30, 2010 increased $35 million and $71 million, respectively, compared with the same periods last year, due principally to higher retail revenues due primarily to increased kWh sales as a result of warmer weather and economic recovery in certain industrial sectors. Operating and maintenance expense was lower for both the quarter and nine months ended September 30, 2010, but was offset by higher depreciation and interest expense, primarily as a result of the adoption in 2010 of an accounting pronouncement requiring the consolidation of trusts from which the company leases assets. The operating and maintenance expense for the nine months ended September 30, 2010 also includes a reduction in a liability for environmental remediation costs associated with assets the company no longer owns.

Earnings Guidance

The company updated its 2010 earnings guidance to $1.80 to $1.95 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 Supplemental Information 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 Friday, October 29 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 800-561-2693, participant code 45168963. 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 Gina Penzig with any follow-up questions.

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This earnings announcement, a package of detailed third quarter 2010 financial information, the company’s quarterly report on Form 10-Q for the period ended September 30, 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 686,000 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 filed on or about October 28, 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 September 30,								Nine Months Ended September 30,
	2010			2009		Change			2010			2009		Change
Retail	$	502,325		$	417,399	$	84,926		$	1,206,261		$	1,063,101	$	143,160
Wholesale		94,117			70,383		23,734			255,865			221,779		34,086
Transmission		35,554			32,833		2,721			108,497			100,902		7,595
Other		12,441			7,919		4,522			28,825			32,331		(3,506	)
Total Revenues		644,437		$	528,534		115,903			1,599,448			1,418,113		181,335
Fuel and purchased power		187,877			141,470		46,407			458,793			402,622		56,171
Operating and maintenance		126,602			130,295		(3,693	)		369,584			392,272		(22,688	)
Depreciation and amortization		67,918			64,516		3,402			201,955			186,544		15,411
Selling, general and administrative		50,418			41,920		8,498			144,499			143,540		959
Total Operating Expenses		432,815			378,201		54,614			1,174,831			1,124,978		49,853
Income from Operations		211,622			150,333		61,289			424,617			293,135		131,482
Other (expense) income		(1	)		664		(665	)		(3,901	)		2,702		(6,603	)
Interest expense		43,956			41,599		2,357			131,862			116,769		15,093
Income tax expense		51,802			28,256		23,546			86,780			48,354		38,426
Income from Continuing Operations		115,863			81,142		34,721			202,074			130,714		71,360
Results of discontinued operations, net of tax		—			—		—			—			32,978		(32,978	)
Net Income		115,863			81,142		34,721			202,274			163,692		38,382
Less: Net income attributable to noncontrolling interests		1,119			—		1,119			3,338			—		3,338
Net income attributable to Westar Energy		114,744			81,142		33,602			198,736			163,692		35,044
Preferred dividends		242			242		—			727			727		—
Net Income Attributable to Common Stock	$	114,502		$	80,900	$	33,602		$	198,009		$	162,965	$	35,044
Basic Earnings Per Share:
Earnings available from continuing operations	$	1.02		$	0.73	$	0.29		$	1.77		$	1.18	$	0.59
Discontinued operations, net of tax		—			—		—			—			0.30		(0.30	)
Earnings per common share, basic	$	1.02		$	0.73	$	0.29		$	1.77		$	1.48	$	0.29
Average equivalent common shares outstanding		111,707			109,753					111,387			109,543
Dividends declared per share	$	0.31		$	0.30	$	0.01		$	0.93		$	0.90	$	0.03