SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) October 12, 1999
(October 7, 1999)
WESTERN RESOURCES, INC.
(Exact Name of Registrant as Specified in Its Charter)
KANSAS 1-3523 48-0290150
(State or Other Jurisdiction of (Commission (Employer
Incorporation or Organization) File Number) Identification No.)
818 KANSAS AVENUE, TOPEKA, KANSAS 66612
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number Including Area Code (785) 575-6300
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WESTERN RESOURCES, INC.
Item 5. Other Events
On October 7, 1999, Western Resources, Inc. announced Western Resources,
BPU Reach Agreement in KCPL; Merger Power Market Issues Resolved at FERC.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99.1 - Press release dated as of October 7, 1999, issued by
Western Resources, Inc.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Western Resources, Inc.
Date October 12, 1999 By /s/ William B. Moore
William B. Moore, Executive Vice
President, Chief Financial
Officer and Treasurer
Date October 12, 1999 By /s/ Leroy P. Wages
Leroy P. Wages, Controller
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EXHIBIT INDEX
Exhibit Number Description of Exhibit
99.1 Press release dated as of October 7,
1999, issued by Western Resources, Inc.
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Exhibit 99.1
October 7, 1999
WESTERN RESOURCES, BPU REACH AGREEMENT IN KCPL MERGER
POWER MARKET ISSUES RESOLVED AT FERC
Western Resources and the Board of Public Utilities (BPU), Kansas City,
Kansas, said they have reached an agreement at the Federal Energy Regulatory
Commission (FERC) regarding Western Resources' merger with Kansas City Power &
Light Company.
With this agreement, BPU has asked FERC to accept without modification
the settlement reached by all major parties with the FERC staff on September
14.
As a result of that agreement, the FERC staff and all other major
parties have resolved market power, transmission and customer protection
issues, which were set for hearing by the FERC.
The companies said the agreement addresses the concerns of the remaining
wholesale intervenor in the FERC docket who had objections to the merger based
on market power issues.
"We are extremely pleased that we were able to work together to reach an
agreement with BPU that allows the merger process to continue forward at the
federal level," said David C. Wittig, Western Resources chairman of the board,
president and chief executive officer.
"This meeting of the minds satisfies core business issues for all
parties," said BPU general manager, E. Leon Daggett. "Now that we have
satisfactorily concluded merger-related issues, we can both proceed with our
strategic plans for the future."
The settlement will next be reviewed by a FERC administrative law judge,
who will either forward it to the FERC Commissioners or hold it for hearings
beginning October 25 in Washington, D.C.
Forward-Looking Statements: Certain matters discussed in this employee
update 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 we
"believe", "anticipate," "expect" or words of similar meaning. Forward-looking
statements describe our future plans, objectives, expectations, or goals. Such
statements address future events and conditions concerning capital
expenditures, earnings, litigation, rate and other regulatory matters, closing
of the KCPL transaction, successful integration of Western Resources' and
KCPL's businesses and achievement of anticipated cost savings, the outcome of
accounting issues being reviewed by the SEC staff, possible corporate
restructurings, mergers, acquisitions, dispositions, liquidity and capital
resources, interest and dividend rates, year 2000 issue, environmental
matters, changing weather, nuclear operations, ability to enter new markets
successfully and capitalize on growth opportunities in nonregulated
businesses, events in foreign markets in which investments have been made, and
accounting matters. Our actual results may differ materially from those
discussed here. See the company's 1998 Annual Report on Form 10-K and
quarterly reports on Forms 10-Q for further discussion of factors affecting
the company's performance. Western Resources disclaims any obligation to
update any forward-looking statements as a result of developments occurring
after the date of this employee update.
