Evergy Pushes for Stronger T&D in New Five-Year Spending Plan
Attachment: Evergy 4Q23
March 15, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Warmer-than-normal weather took a toll on Evergy Incorporated's (NASDAQ:EVRG) (Topeka, Kansas) bottom line for 2023, but the investor-owned utility, which services parts of Kansas and Missouri, is preparing to beef up its transmission and distribution (T&D) capacity in the near term, as an industry-led boom in electricity demand looms on the horizon.
Industrial Info is tracking about $900 million worth of active and planned projects from Evergy, about half of which is attributed to projects with a medium-to-high (70% or more) likelihood of beginning construction within the next two years. "Our latest five-year investment plan [extended through 2028] totals approximately $12.5 billion, which represents a nearly $900 million increase relative to our prior five-year forecast through 2027," said David Campbell, the chief executive officer of Evergy.
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