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On October 22, 2003, Great Plains Energy Incorporated issued a press release announcing 2003 third quarter earnings information and raising 2003 earnings guidance. A copy of the press release is attached to this report on Form 8-K as Exhibit 99.

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 hereunto duly authorized.

Exhibit 99

KANSAS CITY, MO, October 22, 2003 - Great Plains Energy (NYSE: GXP) today announced third quarter 2003 earnings of $83.4 million, or $1.20 per share compared to third quarter 2002 earnings of $68.5 million, or $1.11 per share. Third quarter results were affected positively by $10.8 million, or $0.16 per share as a result of the partial litigation settlements from the 1999 Hawthorn No. 5 incident. Third quarter 2003 ongoing earnings, as detailed on Attachment B, were $72.6 million, or $1.04 per share versus $70.0 million, or $1.13 per share for 2002.

For the nine months ended September 30, 2003, the Company reported earnings of $148.0 million, or $2.14 per share compared to $97.7 million, or $1.58 per share for the same period in 2002. Year to date ongoing earnings, as detailed in Attachment C, were $125.5 million, or $1.82 per share compared to 2002 ongoing earnings of $113.3 million, or $1.83 per share.

The difference in ongoing earnings for both periods when compared to 2002 was driven primarily by an increase in wholesale revenues at Kansas City Power & Light (KCP&L) and continued growth at Strategic Energy. These factors were partially offset by summer weather that, while warmer than normal, was slightly cooler than last year; higher pension expense; the impact of the 2003 Kansas rate reduction; and the timing of reductions in affordable housing investments. The November 2002 equity offering diluted the quarter and year to date 2003 earnings per share by $0.14 per share and $0.24 per share respectively.

Due to strong year to date performance, the Company is raising 2003 ongoing earnings guidance to a range of $2.00 to $2.10 per share compared to previous guidance of $1.90 to $2.00 per share, excluding unusual items as detailed on Attachment G.

Commenting on results, Chairman Michael Chesser said, "During the quarter, KCP&L reached a record peak in customer demand and continued with strong wholesale sales while Strategic Energy sustained their strong performance with increased MWh delivery." He continued, "Having just joined the Company this month, I feel very fortunate to inherit a strong financial foundation. These subsidiaries are positioning us to grow shareholder value and to provide an attractive dividend."

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The following unusual and discontinued items impacted earnings for the 2003 periods. During the third quarter of 2003, KCP&L received $34.1 million in cash resulting from partial litigation settlements related to the 1999 Hawthorn No. 5 incident. This amount increased third quarter and year to date earnings by $10.8 million, or $0.16 per share. In addition, $16.4 million was recorded as a recovery of capital expenditures. The Company's year to date earnings were positively impacted by $25.9 million, or $0.37 per share from the June confirmation of the restructuring plan of DTI Holdings and its subsidiaries and the sale of substantially all of the assets of Digital Teleport, Inc. Year to date 2003 earnings per share were reduced in the second quarter by $0.13 from the operations and subsequent disposition of R.S. Andrews Enterprises, Inc. and by $0.08 on the first quarter asset impairment at KLT Gas. The year to date 2002 earnings were reduced by unusual and discontinued items of $0.16 per share from the January 2002 ice storm and $0.09 per share by the effects of R.S. Andrews Enterprises, Inc.

KCP&L, an integrated regulated electric utility, reported earnings for the third quarter of $78.9 million, or $1.14 per share compared to 2002 earnings of $63.7 million, or $1.03 per share. Ongoing earnings for the third quarter were $68.1 million, or $0.98 per share versus $64.1 million, or $1.03 per share in 2002. Third quarter revenues were $350.1 million compared with $334.6 million in the same quarter last year.

Retail revenues for the third quarter 2003 were $304.7 million, slightly less than last year's quarter due to 7 % cooler summer weather and the effect of the January 2003 Kansas rate reduction. Wholesale revenues increased to $40.8 million primarily due to 22% more MWh's sold and 33% higher average wholesale prices. KCP&L's third quarter 2003 earnings were impacted also by higher pension costs.

KCP&L's year to date earnings were $114.6 million, or $1.66 per share, compared to 2002 year to date earnings of $84.1 million, or $1.36 per share. Year to date ongoing earnings were $103.8 million, or $1.50 per share, compared to $94.2 million, or $1.52 per share in the same period of 2002. The increase is primarily due to a 89% increase in wholesale revenues reflecting a 41% increase in wholesale MWh's sold at 45% higher prices. This gain is partially offset by cooler summer weather than last year, the January 2003 Kansas rate reduction and increased pension expenses.

The November 2002 equity offering diluted quarterly and year to date 2003 earnings on a per share basis by $0.13 and $0.18, respectively.

Strategic Energy, a power supply coordination services provider, continued its strong performance with earnings of $10.8 million, $0.16 per share compared to $6.7 million, or $0.11 per share in the same quarter last year. Revenues were up 33% to $310.1 million. Strategic Energy's year to date 2003 earnings were $30.2 million, or $0.44 per share up 39% versus $21.8 million, or $0.35 per share in 2002.

The primary factors for the earnings increase in both periods compared to 2002 were a 34% quarterly and a 42% year to date rise in MWh's delivered, a 6% increase in the Company's ownership in Strategic Energy, and a state tax true-up which reduced third quarter earnings last year. These gains were offset slightly by decreases in the gross margin per MWh delivered by 9% in the third quarter and 13% year to date. The decrease continues to be driven primarily by old, higher margin contract expirations, while margins on new business have been slightly better than anticipated this year.

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The November 2002 equity offering diluted quarterly and year to date 2003 earnings per share by $0.01 and $0.04, respectively.

Great Plains Energy provides in its quarterly earnings releases descriptions of "ongoing earnings" in addition to earnings calculated in accordance with generally accepted accounting principles (GAAP). Great Plains Energy also provides its earnings guidance in terms of ongoing earnings. Ongoing earnings are a non-GAAP financial measure that differs from GAAP earnings because it excludes the effect of unusual items. Ongoing earnings for historical periods are reconciled to GAAP earnings for the same periods in the tables on Attachments B and C. Great Plains Energy is unable to reconcile its 2003 ongoing earnings guidance to GAAP earnings per share because we do not predict the future impact of unusual items.

We believe ongoing earnings provide to investors a useful indicator of our results that is comparable among periods because it excludes the effects of unusual items, which may occur on an irregular basis. Investors should note that this non-GAAP measure involves judgments by management including whether an item is classified as an unusual item. We use ongoing earnings internally to measure performance against budget and in reports for management.

Great Plains Energy Incorporated (NYSE: GXP), headquartered in Kansas City, MO, is the holding company for three business units: Kansas City Power & Light Company, a leading regulated provider of electricity in the Midwest; Strategic Energy LLC, an energy management company providing load aggregation and power supply coordination; and KLT Gas Inc., a subsidiary specializing in coal bed methane exploration and development. The Company's web site is www.greatplainsenergy.com.

Great Plains Energy will broadcast a discussion of these results via the Internet on Thursday, October 23, 2003 at 9:00 AM Eastern / 8:00 AM Central. The presentation can be accessed through www.greatplainsenergy.com.

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