Evergy Plan Maintains Lowest-Cost Approach to Meeting Growing Customer Electricity Demand, Maintaining Reliability, and Advancing Sustainability

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KANSAS CITY, Missouri — Evergy, Inc. (NASDAQ: EVRG) today filed its triennial Integrated Resource Plan with the Missouri Public Service Commission. This outlines the plan to meet customer electricity needs over the next 20 years. It includes additional renewable and dispatchable generation to meet growing customer demand driven by economic development and increased capacity requirements established by the Southwest Power Pool.

Companywide over the next 20 years, Evergy projects it will need to add 5,100 megawatts of renewable energy from wind and solar and 5,200 MW of firm, dispatchable generation — including 2,500 MW of new, hydrogen-capable natural gas generation across 2029–2032 — as its service area is experiencing record-setting economic development. The 2024 plan includes 1,900 MW of additional generation over what was anticipated in its 2023 update filing. Evergy evaluates the costs for operating existing plants, adding new supply-side generation, and expanding demand-side programs to develop a plan that has the lowest risk-adjusted cost compared to alternative plans. Reflecting this analysis and consistent with previous plans, the company’s 2024 plan calls for the retirement of more than 4,500 MW of coal-based generation and the continued growth of demand-side programs over that period. View a timeline of the plan.

In the first five years, the plan includes 143 MW of natural gas generation added to Evergy’s portfolio in 2024 and the addition of 600 MW of solar energy in 2027 and 450 MW in 2028.

“Economic development opportunities in Missouri and Kansas are at historic levels and our plan reflects the generation needed to support that growth while maintaining affordable and reliable service for our customers,” Evergy President and Chief Executive Officer David Campbell said. “We will invest in renewable energy resources and dispatchable generation to serve the growing electricity load in our region, maintaining the diverse energy mix that has served our customers well.”

Evergy serves its customers with a balanced generation portfolio that includes approximately 4,600 MW of renewable energy. Later this year, the company expects to surpass a milestone of generating 150 million megawatt hours of wind energy since the inception of its wind portfolio in the early 2000s. With a commitment to a responsible transition to more sustainable energy sources, to date the company has retired 2,400 MW of fossil-fuel generation.

Today, roughly half of the energy that serves Evergy customers comes from carbon-free sources, including the Wolf Creek nuclear plant and renewable energy sources. The company has reduced its carbon emissions by more than 50 percent since 2005. Evergy’s goal is to reduce carbon emissions by 70 percent by 2030 compared to 2005 levels, and to achieve net-zero carbon emissions by 2045. A combination of supportive policies and ongoing technology advancements will be needed to achieve net-zero by 2045.

“A diverse energy portfolio positions Evergy well for the responsible transition of our generation fleet,” Campbell said. “We remain committed to advancing reliability, affordability and sustainability as we replace older, higher-cost plants with newer technologies. Firm, dispatchable generation resources will provide the capacity needed to ensure reliability for our customers while our continued investment in renewables supports our carbon reduction goals. Many large commercial and industrial customers specifically require access to affordable renewable energy, and we are well positioned to deliver on that requirement.”

The Integrated Resource Plan filed today at the Missouri Public Service Commission is a triennial filing that includes details related to the Evergy Metro and Evergy Missouri West resource plans. A similar filing will be made in Kansas in May, which will include details related to the Evergy Kansas Central portion of the plan.

About Evergy: Evergy, Inc. (NASDAQ: EVRG), serves 1.7 million customers in Kansas and Missouri. Evergy’s mission is to empower a better future. Our focus remains on producing, transmitting and delivering reliable, affordable, and sustainable energy for the benefit of our stakeholders. Today, about half of Evergy’s power comes from carbon-free sources, creating more reliable energy with less impact to the environment. We value innovation and adaptability to give our customers better ways to manage their energy use, to create a safe, diverse and inclusive workplace for our employees, and to add value for our investors. Headquartered in Kansas City, our employees are active members of the communities we serve.

Press release from Evergy.