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UNITED STATES

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) December 28, 2005

WESTAR ENERGY, INC.

(Exact name of registrant as specified in its charter)

Registrant’s telephone number, including area code (785) 575-6300

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

WESTAR ENERGY, INC.

Section 7. Regulation FD Disclosure

Item 7.01 - Regulation FD Disclosure

On December 28, 2005, the Kansas Corporation Commission issued an order that left the rates of Westar Energy, Inc. and Kansas Gas and Electric Company, a wholly owned subsidiary of Westar Energy, nearly unchanged. On May 2, 2005, Westar Energy and Kansas Gas and Electric Company filed a joint application with the Kansas Corporation Commission to propose changes to their electric rates. Westar Energy sought an approximate 9 percent, or $47.8 million, increase in rates, and Kansas Gas and Electric Company sought an approximate 6 percent, or $36.3 million, increase in rates. The Kansas Corporation Commission’s action will increase Westar Energy’s rates by approximately $24.2 million and decrease Kansas Gas and Electric Company’s rates by approximately $21.2 million.

A copy of a press release and presentation that discuss the rate review are attached to this report and incorporated herein by this reference and are also available on our web site, http://www.wr.com.

Section 9. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.

Exhibit 99.1     Press Release dated December 28, 2005

Exhibit 99.2     Summary of Rate Order dated December 30, 2005

Forward-looking statements: Certain matters discussed in this Current Report on Form 8-K 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,” “likely,” “estimate,” “intend” or words of similar meaning. Forward-looking statements describe our future plans, objectives, expectations or goals and are based on assumptions by the management of the Company as of the date of this document. If management’s assumptions prove incorrect or should unanticipated circumstances arise, the Company’s actual results could differ materially from those anticipated. These differences could be caused by a number of factors or combination of factors including, but not limited to, those factors described under the heading “Risk Factors” contained in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2005 as filed with the Securities and Exchange Commission. Readers are urged to consider such factors when evaluating any forward-looking statement, and the Company cautions you not to put undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date such statement was made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement was made except as required by applicable laws or regulations.

The information contained in this report is summary information that is intended to be considered in the context of our SEC filings and other public announcements that we may make, by press release or otherwise, from time to time. We disclaim any current intention to revise or update the information contained in this report, although we may do so from time to time as our management believes is warranted. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure.

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.

EXHIBIT INDEX

Exhibit 99.1

		Media contact:
		Karla Olsen,
		senior manager, media relations
		Phone: 888.613.0003
		FAX: 316.261.6769
		karla_olsen@wr.com
		Investor contact:
		Bruce Burns,
		director, investor relations
		Phone: 785.575.8227
		bruce_burns@wr.com

WESTAR ENERGY RESPONDS TO KCC RATE ORDER

TOPEKA, Kan., Dec. 28, 2005 — The Kansas Corporation Commission ordered Westar Energy’s (NYSE:WR) rates to remain nearly unchanged. Westar sought an overall increase of about $84 million. Rates will increase $24.2 million in the northern territory and decrease $21.2 million in the southern territory.

“The commission’s order, with respect to the level of our rates, is disappointing,” said James Ludwig, vice president, public affairs. “We are satisfied that the commission approved such structural changes as the fuel clause, timely recovery of investments in pollution control equipment and realistic depreciation rates.”

Management continues to evaluate the order and will discuss it in greater detail during the conference call Friday, Dec. 30 at noon central time.

-30-

Westar Energy, Inc. (NYSE: WR) is the largest electric utility in Kansas, providing electric service to about 659,000 customers in the state. Westar Energy has nearly 6,000 megawatts of electric generation capacity and operates and coordinates approximately 33,000 miles of electric distribution and transmission lines.

For more information about Westar Energy, visit us on the Internet at http://www.wr.com.

Forward-looking statements: Certain matters discussed in this news release 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 “believe,” “anticipate,” “target,” “expect,” “pro forma,” “estimate,” “intend,” “guidance” or words of similar meaning. Forward-looking statements describe future plans, objectives, expectations or goals. Although Westar Energy believes that its expectations are based on reasonable assumptions, all forward-looking statements involve risk and uncertainty. Therefore, actual results could vary materially from what we expect. Please review our Quarterly Report on Form 10-Q for the period ended Sept. 30, 2005 for important risk factors that could cause results to differ materially from those in any such forward-looking statements. Any forward-looking statement speaks only as of the date such statement was made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement was made except as required by applicable laws or regulations.

Page 1 of 1

Review of KCC Rate Order December 30, 2005 Review of KCC Rate Order December 30, 2005 Exhibit 99.2

2 Forward-Looking Statements Disclosure Forward-Looking Statements Disclosure The following presentation contains some “forward-looking statements” with respect to Westar Energy, Inc.’s (“Westar”) future plans, expectations and goals, including management’s expectations with respect to future operating results and dividend growth.  The Private Securities Litigation Reform Act of 1995 has established that these statements qualify for safe harbors from liability. Although we believe that the expectations and goals reflected in such forward-looking statements are based on reasonable assumptions, all forward- looking statements involve risk and uncertainty. Therefore, actual results could vary materially from what we expect. Please review our quarterly report on Form 10-Q for the period ended September 30, 2005 for important risk factors that could cause results to differ materially from those in any such forward-looking statements. Any forward-looking statement speaks only as of the date such statement was made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement was made except as required by applicable laws or regulations. The following presentation contains some “forward-looking statements” with respect to Westar Energy, Inc.’s (“Westar”) future plans, expectations and goals, including management’s expectations with respect to future operating results and dividend growth.  The Private Securities Litigation Reform Act of 1995 has established that these statements qualify for safe harbors from liability. Although we believe that the expectations and goals reflected in such forward-looking statements are based on reasonable assumptions, all forward-looking statements involve risk and uncertainty. Therefore, actual results could vary materially from what we expect. Please review our quarterly report on Form 10-Q for the period ended September 30, 2005 for important risk factors that could cause results to differ materially from those in any such forward-looking statements. Any forward-looking statement speaks only as of the date such statement was made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement was made except as required by applicable laws or regulations.

3 Contents Contents Page 2005 Rate Review Overview 4 Kansas Retail Case 5 Background 6 2005 Rate Case Components 7 KCC Order 8 Estimated Impact of KCC Order 9 Key Calculations in Retail Case 10 Key Rate Components 11 Next Steps in Retail Case 12 FERC Transmission Case 13 2005 FERC Filing 14 FERC Formula Transmission Rate 15 Page 2005 Rate Review Overview 4 Kansas Retail Case 5 Background 6 2005 Rate Case Components 7 KCC Order 8 Estimated Impact of KCC Order 9 Key Calculations in Retail Case 10 Key Rate Components 11 Next Steps in Retail Case 12 FERC Transmission Case 13 2005 FERC Filing 14 FERC Formula Transmission Rate 15

4 2005 Rate Review Overview 2005 Rate Review Overview On May 2, Westar filed two rate applications Retail rate review with the Kansas Corporation Commission (KCC) Docket 05-WSEE-981-RTS FERC formula transmission rate Docket ER05-925-000 Effective dates for applications By Kansas statute, order was issued by Dec. 28, 2005 FERC transmission rate in effect Dec. 1, 2005 subject to refund Simultaneous filing allows opportunities for retail and transmission rates to be effective at same time On May 2, Westar filed two rate applications Retail rate review with the Kansas Corporation Commission (KCC) Docket 05-WSEE-981-RTS FERC formula transmission rate Docket ER05-925-000 Effective dates for applications By Kansas statute, order was issued by Dec. 28, 2005 FERC transmission rate in effect Dec. 1, 2005 subject to refund Simultaneous filing allows opportunities for retail and transmission rates to be effective at same time

Kansas Retail Case Kansas Retail Case

6 Background Background On May 2, 2005, Westar filed for $84 million increase in retail rates North   $48 million 9.3% South 36 million 6.3% $84 million     7.7% As adjusted and corrected, overall requested increase remained at $84 million, but adjustments affected the individual rate areas North $56 million   10.9% South 28 million  5.0% $84 million     7.8% On May 2, 2005, Westar filed for $84 million increase in retail rates North   $48 million 9.3% South 36 million 6.3% $84 million     7.7% As adjusted and corrected, overall requested increase remained at $84 million, but adjustments affected the individual rate areas North $56 million   10.9% South 28 million  5.0% $84 million     7.8%

7 2005 Key Rate Case Components 2005 Key Rate Case Components Fuel adjustment clause Environmental cost recovery rider Transmission delivery charge (unbundled FERC formula rate) Increase depreciation rates by $29 million Storm recovery of $49 million Incentive structure for wholesale margin sharing Levelize regulatory COLI credits over 60 year Wolf Creek life Asked KCC to reconsider two controversial adjustments ordered in 2001 rate case Unamortized gain on LaCygne sale-leaseback transaction Imputed deferred income taxes associated with 1992 merger Fuel adjustment clause Environmental cost recovery rider Transmission delivery charge (unbundled FERC formula rate) Increase depreciation rates by $29 million Storm recovery of $49 million Incentive structure for wholesale margin sharing Levelize regulatory COLI credits over 60 year Wolf Creek life Asked KCC to reconsider two controversial adjustments ordered in 2001 rate case Unamortized gain on LaCygne sale-leaseback transaction Imputed deferred income taxes associated with 1992 merger

8 KCC Order KCC Order Order indicated slight increase in overall retail rates North $24.2  million 4.7% South        (21.2) million   (3.7%) Total       $  3.0 million    0.3% Expect use of more recent three-year average of wholesale margins to result in a slight decrease in overall retail rates Other key elements Approved fuel adjustment clause Approved environmental cost recovery rider Approved transmission delivery charge Approved Westar’s depreciation increase Accepted Westar’s position on LaCygne gain Rejected Westar’s proposed wholesale margin sharing Rejected requested changes in COLI rate making treatment Rejected Westar’s position on merger savings Order indicated slight increase in overall retail rates North $24.2  million 4.7% South        (21.2) million   (3.7%) Total       $  3.0 million    0.3% Expect use of more recent three-year average of wholesale margins to result in a slight decrease in overall retail rates Other key elements Approved fuel adjustment clause Approved environmental cost recovery rider Approved transmission delivery charge Approved Westar’s depreciation increase Accepted Westar’s position on LaCygne gain Rejected Westar’s proposed wholesale margin sharing Rejected requested changes in COLI rate making treatment Rejected Westar’s position on merger savings

9 Estimated Impact of KCC Order KCC Order* Westar Energy requested rate increase 84 $            ROE recommendation (30) 10.00% Wholesale margin sharing (11) LaCygne 2 unamortized gain 0 1992 merger savings (11) COLI (11) Depreciation expense 0 Post employment benefits amortization (6) Ice storm costs 0 Other (+/-) (12) Recommended Adjustments (81)               Indicated rate increase 3 $              * Excludes any revenues associated with higher fuel costs that may be reflected in fuel adjustment clause

10 Key Calculations in Retail Case Key Calculations in Retail Case KCC jurisdictional rate base of $2.2 billion Excludes $320 million FERC jurisdictional rate base Allowed rate of return – summarized KCC jurisdictional rate base of $2.2 billion Excludes $320 million FERC jurisdictional rate base Allowed rate of return – summarized % of Capital Component Cost WACC Common equity 44.59% x 10.00% = 4.46% Post 1970 ITC 2.31% x 7.89% = 0.18% Preferred Stock 0.69% x 4.55% = 0.03% Long Term Debt 52.41% x 6.14% = 3.22%    Weighted cost of capital 7.89%

11 Key Rate Components Key Rate Components Fuel adjustment clause Expect to set rates based on forecasted costs with periodic true-up Environmental cost recovery rider Adopted Westar recommendation for capital recovery only Proceeds from sale of emissions allowances returned to customers through fuel clause Transmission delivery charge Adopted Westar/KCC Staff joint recommendation Wholesale margin sharing Adopted Staff position to refund 100% of market-based wholesale (asset-based) margins based on three-year rolling average Energy marketing (non-asset) margins remain outside of ratemaking Fuel adjustment clause Expect to set rates based on forecasted costs with periodic true-up Environmental cost recovery rider Adopted Westar recommendation for capital recovery only Proceeds from sale of emissions allowances returned to customers through fuel clause Transmission delivery charge Adopted Westar/KCC Staff joint recommendation Wholesale margin sharing Adopted Staff position to refund 100% of market-based wholesale (asset-based) margins based on three-year rolling average Energy marketing (non-asset) margins remain outside of ratemaking

12 Next Steps in Retail Case Next Steps in Retail Case Full review of all elements in the order Any party can petition the Commission with a request for reconsideration by January 16 Commission has 30 days to consider petitions Plan to implement new tariffs approximately February 1 Full review of all elements in the order Any party can petition the Commission with a request for reconsideration by January 16 Commission has 30 days to consider petitions Plan to implement new tariffs approximately February 1

FERC Transmission Case Formula Rate Filing FERC Transmission Case Formula Rate Filing

14 2005 FERC Filing 2005 FERC Filing FERC transmission rate base approximately $320 million Revenue requirement of $77 million Adopt a formula rate approach to: Establish current rates for transmission service Keep rates current with annual adjustment Requested 12% ROE (11.5% plus 0.5% adder) Westar – member SPP Regional Transmission Organization Proposed rates accepted for filing Suspended for five months Became effective December 1, 2005, subject to refund Case assigned to settlement judge Next settlement hearing scheduled for January 12, 2006 FERC transmission rate base approximately $320 million Revenue requirement of $77 million Adopt a formula rate approach to: Establish current rates for transmission service Keep rates current with annual adjustment Requested 12% ROE (11.5% plus 0.5% adder) Westar – member SPP Regional Transmission Organization Proposed rates accepted for filing Suspended for five months Became effective December 1, 2005, subject to refund Case assigned to settlement judge Next settlement hearing scheduled for January 12, 2006

15 FERC Formula Transmission Rate FERC Formula Transmission Rate Advantages: Reduce regulatory lag Potential for incentive ROE for RTO participation More certainty for cost recovery of transmission system improvements Advantages: Reduce regulatory lag Potential for incentive ROE for RTO participation More certainty for cost recovery of transmission system improvements

Westar Energy Investor Contact Westar Energy Investor Contact Bruce Burns Director Investor Relations 785-575-8227 bruce_burns@wr.com Bruce Burns Director Investor Relations 785-575-8227 bruce_burns@wr.com