EmpireDistrict Electric Co. has agreed to withdraw its pending rate casein Kansas and freeze its current base rates until Jan. 1, 2019, as part of asettlement agreementtied to its planned US$2.4 billion acquisition by Algonquin Power & Utilities Corp.
Empire District may seek recovery of approximately US$1.2million in costs related to the Riverton 12 combined-cycle project under its currentenvironmental recovery rider, according to an Oct. 6 news release.
The utility reached the agreement with the KansasCorporation Commission staff. The commission is expected to make a decision onthe deal by Jan. 10, 2017.
The transaction has already secured approvals fromshareholders,FERC and regulatorsfrom Missouri,Oklahoma andArkansas.