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    Julian Smith • Jefferies

    Julian Smith's questions to Evergy Inc (EVRG) leadership

    Julian Smith's questions to Evergy Inc (EVRG) leadership • Q2 2025

    Question

    Julian Smith from Jefferies asked about the primary gating factor for serving its large load customer pipeline and whether the new earnings sharing mechanism in Kansas should be considered a precedent for future proceedings.

    Answer

    CEO David Campbell explained that serving the large load pipeline is a balance of both customer development timelines and Evergy's ability to advance infrastructure, emphasizing that the top 4-6 GW are the most advanced. Regarding the Kansas earnings review, Campbell noted that while it formally applies until the next rate case, it does set a precedent. He framed it as a positive development for a jurisdiction that has historically under-earned its authorized returns.

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    Julian Smith's questions to Idacorp Inc (IDA) leadership

    Julian Smith's questions to Idacorp Inc (IDA) leadership • Q1 2025

    Question

    An associate for Julian Smith asked if the 2028 and 2029 RFPs would accommodate new large load customers, sought an update on negotiations with a previously mentioned data center, inquired about the recovery strategy for major transmission projects, and asked for the capacity of the 2028 RFP shortlist.

    Answer

    CEO Lisa Grow explained that new load needs could potentially be met by existing RFP projects or might require new RFPs, and confirmed data center negotiations are ongoing. VP Tim Tatum and CFO Brian Buckham stated that all options, including general rate cases or one-off filings, are on the table for timely recovery of transmission investments. Executive Adam Richins noted the 2028 RFP shortlist includes several hundred megawatts of capacity and an Idaho Power-owned project.

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