Evergy Kansas Central 8-K Westar Energy Announces 1ST Quarter 2012 Results

Exhibit 99.1

Media contact: Gina Penzig, director, corporate communications Phone: 785.575.8089 gina.penzig@WestarEnergy.com   Investor contact: Bruce Burns, director, investor relations Phone: 785.575.8227 bruce.burns@WestarEnergy.com

WESTAR ENERGY ANNOUNCES 1^ST QUARTER 2012 RESULTS

Warmest 1^st Quarter in more than 50 years

TOPEKA, Kan., May 9, 2012 — Westar Energy, Inc. (NYSE:WR) today announced earnings for first quarter 2012 were $27 million, or $0.21 per share, compared with $31 million, or $0.27 per share, for the same period in 2011. Earnings for 2011 include the effects of costs related to legal settlements last year. Per share results for the first quarter 2012 reflect additional shares outstanding as a result of the company having issued shares to fund capital investments.

Following is a reconciliation of GAAP to ongoing (non-GAAP) earnings per share:

	Three Months Ended March 31,
	2012		2011			Change
Basic earnings per share	$	0.21	$	0.27		$	(0.06	)
Less adjustment for:
Legal costs related to legal settlements (a)		—		(0.01	)		0.01
Ongoing (non-GAAP) earnings per share	$	0.21	$	0.28		$	(0.07	)

(a) Per share amounts adjusted for income tax expense

The primary drivers for the decrease in first quarter 2012 ongoing net income were lower retail sales largely due to extremely mild winter weather and higher costs associated with power plant maintenance. Our service territory experienced the warmest first quarter in more than 50 years. These factors were partially offset by benefits from corporate-owned life insurance.

Reconciliation of GAAP to ongoing (non-GAAP) net income:

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	Three Months Ended March 31,
	2012		2011			Change
	(Dollars in millions)
Net income attributable to common stock	$	27.3	$	31.3		$	(4.0	)
Less adjustment for:
Legal costs related to legal settlements (a)		—		(1.0	)		1.0
Ongoing (non-GAAP) net income	$	27.3	$	32.3		$	(5.0	)

(a) Adjusted for income tax expense

Earnings Guidance

The company affirmed its 2012 earnings guidance of $1.85 to $2.00 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. It is located under Supplemental Materials 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, May 10 with the investment community at 10 a.m. ET (9 a.m. CT). Investors, media and the public may listen to the conference call by dialing 866-770-7125, participant code 75566875. A webcast of the live conference call will be available atwww.WestarEnergy.com.

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

This earnings announcement, supplemental materials with detailed first quarter 2012 financial information, the company’s quarterly report on Form 10-Q for the period ended Mar. 31, 2012 and other filings the company has made with the Securities and Exchange Commission are available on the company’s website atwww.WestarEnergy.com.

Westar Energy announces first quarter 2012 results Page  3  of 4

Westar Energy, Inc. (NYSE: WR) is the largest electric utility in Kansas, providing electric service to about 689,000 customers in the state. Westar Energy has about 7,100 megawatts of electric generating resources and operates and coordinates more than 34,000 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, 2011 (a) under the heading, “Forward-Looking Statements,” (b) in ITEM 1. Business, (c) in ITEM 1A. Risk Factors, (d) in ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and (e) 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 May 9, 2012 (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 8 and 9; and (2) 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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Westar Energy, Inc

Consolidated Statements of Income

(Unaudited)

(In thousands, except per share amounts)

	Three Months Ended March 31,
	2012			2011			Change			% Change
REVENUES:
Residential	$	138,418		$	152,908		$	(14,490	)		(9.5	)
Commercial		129,651			128,827			824			0.6
Industrial		85,420			79,196			6,224			7.9
Other retail		(2,920	)		(3,014	)		94			3.1
Total Retail Revenues		350,569			357,917			(7,348	)		(2.1	)
Wholesale		71,212			78,594			(7,382	)		(9.4	)
Transmission		45,963			37,176			8,787			23.6
Other		7,933			8,033			(100	)		(1.2	)
Total Revenues		475,677			481,720			(6,043	)		(1.3	)
OPERATING EXPENSES:
Fuel and purchased power		127,654			134,184			(6,530	)		(4.9	)
Operating and maintenance		156,044			137,351			18,693			13.6
Depreciation and amortization		73,280			70,259			3,021			4.3
Selling, general and administrative		47,334			48,767			(1,433	)		(2.9	)
Total Operating Expenses		404,312			390,561			13,751			3.5
INCOME FROM OPERATIONS		71,365			91,159			(19,794	)		(21.7	)
OTHER INCOME (EXPENSE):
Investment income		4,324			1,968			2,356			119.7
Other income		13,590			2,249			11,341			504.3
Other expense		(5,553	)		(5,368	)		(185	)		(3.4	)
Total Other Income (Expense)		12,361			(1,151	)		13,512			n.m.
Interest expense		42,046			43,538			(1,492	)		(3.4	)
INCOME BEFORE INCOME TAXES		41,680			46,470			(4,790	)		(10.3	)
Income tax expense		12,443			13,513			(1,070	)		(7.9	)
NET INCOME		29,237			32,957			(3,720	)		(11.3	)
Less: Net income attributable to noncontrolling interests		1,713			1,373			340			24.8
NET INCOME ATTRIBUTABLE TO WESTAR ENERGY		27,524			31,584			(4,060	)		(12.9	)
Preferred dividends		242			242			—			—
NET INCOME ATTRIBUTABLE TO COMMON STOCK	$	27,282		$	31,342		$	(4,060	)		(13.0	)
Earnings per common share, basic	$	0.21		$	0.27		$	(0.06	)		(22.2	)
Average equivalent common shares outstanding		126,495			113,875			12,620			11.1
DIVIDENDS DECLARED PER COMMON SHARE	$	0.33		$	0.32		$	0.01			3.1
n.m. – not meaningful