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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) October 28, 2010

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

Item 7.01. Regulation FD Disclosure.

On October 31-November 3, 2010, we will participate in the Edison Electric Institute Financial Conference in Palm Desert, California. The presentation slides to be used at the conference are attached to this report as Exhibit 99.1, which exhibit is incorporated herein by this reference. The full presentation is also available to the public on our website, http://www.WestarEnergy.com, under Investors, Investor Presentations.

The information above is being furnished, not filed, pursuant to Item 7.01 of Form 8-K. Accordingly, the information in Item 7.01 of this Current Report, including the information attached hereto as Exhibit 99.1, will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated by reference.

Section 9. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.

Exhibit 99.1 Westar Energy, Inc. presentation slides

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 “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 believe that our expectations are based on reasonable assumptions, all forward-looking statements involve risk and uncertainty. The factors that could cause actual results to differ materially from these forward-looking statements include those discussed herein as well as (1) those discussed in our Annual Report on Form 10-K for the year ended Dec. 31, 2009 (a) under the heading, “Forward-Looking Statements,” (b) in ITEM 1A. Risk Factors, (c) in ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and (d) in ITEM 8. Financial Statements and Supplementary Data: Notes 13 and 15; (2) those discussed in our Quarterly Report on Form 10-Q filed October 28, 2010 (a) in ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (b) in Part I, Financial Information, ITEM 1. Financial Statements: Notes 7 and 8; and (3) other factors discussed in our filings with the Securities and Exchange Commission. 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.

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 hereunto duly authorized.

EXHIBIT INDEX

45 th Annual EEI Financial Conference Oct 31 – Nov 3, 2010 Palm Desert, CA Exhibit 99.1

2 Forward Looking Disclosures 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.  The factors that could cause actual results to differ materially from these forward-looking statements include those discussed herein as well as (1) those discussed in our Annual Report on Form 10-K for the year ended December 31, 2009 in (a) under the heading “Forward-Looking Statements,” (b) ITEM 1A. Risk Factors, (c) ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, (d) ITEM 8. Financial statements and Supplementary Data: Note 15; (2) those discussed in our Quarterly Report on Form 10-Q filed October 28, 2010 in (a) ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, (b) in Part I, Financial Information, ITEM 1. Financial Statements: Notes 7 and 8; and (c) other factors discussed in the company’s filings with  the Securities and Exchange Commission.  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.

3 Recent Events • YTD results strong and well ahead of last year – Stronger retail sales • Weather • Improved industrial sector • Updated 2010 earnings guidance to $1.80 to $1.95 • 2011 earnings drivers • New transmission opportunities • Renewables update

4 • EPS from continuing operations were $1.77 vs. $1.18 last year – Q3 results $1.02 vs. $0.73 last year • 8% increase in retail MWh sales – Ahead of plan • Warmer than normal weather • Signs of economic recovery – Industrials up 6% • All planned price adjustments now effective (annualized amts): – Abbreviated rate case - $17 million – Transmission adjustments - $16 million – Environmental adjustment - $14 million • No COLI proceeds to date YTD September 2010 Results Well Ahead of ‘09

5 • Favorable weather through Q3 • Economic improvement reflected in industrial sales up 6% • Still assumes $11 million of COLI proceeds based on actuarial projections Updated 2010 EPS Guidance to $1.80 - $1.95

6 2011 Earnings Drivers • Plan to provide 2011 guidance with release of 2010 results in February • Drivers and preliminary assumptions for 2011 – No change in business strategy or direction – No change in regulatory principles or methods – Normal weather – Modest price adjustments via approved annual mechanisms – O&M/SG&A trend in line with historic labor increases and inflation rates • Wolf Creek O&M increase $10 million above trend – With current capital market conditions: • Enhance equity ratio consistent with growth opportunities • May consider issuing debt – No impact from base rate changes in calendar 2011

7 • Southwest Power Pool’s long-term plan identifies many projects in our immediate region – Multiple 345 kV projects – In excess of 600 line miles • Will work with SPP, neighboring transmission owners and policymakers to determine timing and sequence of development as projects unfold over the next decade or so Significant New Transmission Opportunities • Announced our commitment to construct these projects consistent with our strategy, proven capabilities and pursuant to SPP plans and tariffs New Lines

8 • 300MW of renewables today – Kansas in the top decile nationally on per capita basis • Westar holds largest commitment in Kansas • Statute requires 200 MW more – Have elected to pursue this increment through PPAs – Evaluating bids • Culling to short list from over 50 proposals • Expect to announce selection(s) Q4 • Plan to be on line late ’12 – Expect to use RECs to meet requirements prior to ’12 • Will seek pre-determination from KCC RFP for 200MW of Renewables

9 Profile

10 Strategic Approach • Embrace uncertainty and acknowledge inability to predict the future • Place a high value on flexibility – Operational – Financial – Regulatory • Leverage actions and strategies around intrinsic advantages • Seek collaborative and constructive approaches to regulation • Value proposition – Protect against downside while growing investor returns

11 • Pure-play, vertically integrated, rate-regulated • 7,100 MW of generation • 6,200 miles transmission • 686,000 customers Kansas’ Largest Electric Provider

12 Favorable Supply Portfolio $57.75 $17.25 $6.48 Uranium Coal Gas Ave. Fuel Cost $18.51/MWh Fuel Mix Coal 48% Gas 40% Wind 4% Uranium 8% MW Capacity 5.0¢ 6.0¢ 7.0¢ 8.0¢ 9.0¢ 10.0¢ Westar Energy Kansas City Power and Light (KS) Empire District Electric (KS) National Average 7.6¢ 8.4¢ 8.4¢ Low Rates Source: Edison Electric Institute 07/01/2010 Coal 76% Gas 7% Wind 3% Uranium 14% Cost of Fuel

13 Low-Cost Coal Fleet • Very low fuel cost – PRB coal – Excellent rail arrangements – Proximity to mines • Low embedded capital cost • No high-heat rate obsolete plants LAC 2 subject to lease agreement

14 Diverse Energy Sales (MWh) Chemical & oil Food processing Aerospace Consumer manufacturing Other Commercial 38% Residential 35% Industrial 27% 38% 17% 16% 16% 14% 12% 12% 8% 7% 6% 4% 51% Other General merchandise Grocery/ Convenience Military Health care State/local government Education

15 Strong Service Territory • Overall economic conditions significantly better than nation – No real estate crash – State unemployment remains 3 pts favorable to nation • Industrial sales showing strong signs of recovery (up 6%)

16 Capitalization and Liquidity • Target 50/50 capital structure • Solid investment grade credit – Recent upgrade and moves to positive outlook • No bonds mature before 2014 September 30, 2010 (a) (millions) Long-term, net $2,491 Preferred 21 Common 2,381 Total Capitalization $4,893 Debt 51% Equity 49% Preferred <1% (a) Capitalization excludes adjustments for VIEs Secured Unsecured Outlook Moody's Baa1 Baa3 Positive Fitch Ratings BBB+ BBB Positive Standard & Poor's BBB+ BBB Stable

17 $0.92 $1.00 $1.08 $1.16 $1.20 $1.24 $0.75 $0.85 $0.95 $1.05 $1.15 $1.25 $1.35 2005 2006 2007 2008 2009 2010 Dividend • Long-standing dividend payout target of 60%-75% of earnings – Updated 2010 guidance implies 64%-69% payout – Current yield 5.0% Indicated annual rate

18 Westar’s Value Proposition • Solid, transparent business strategy • Strong, experienced utility management team • Thoughtful, disciplined approach to operations, capital planning and financing • Constructive regulatory and policy environment – Results in lower prices for customers – Provides investors clarity • Focus on containing risks and maintaining returns • Diverse customer base and stable service territory

19 2011 Plans

20 Annualized Rate & Revenue Changes Actual and Estimated 2009 2010 2011 (Estimated) Base rates $130 million Feb 3 $ 17 million Feb Transmission rates $ 36 million Jan 1 $ 16 million Jan 1 $ 18 million Jan 1 ECRR $ 32 million June 1 $ 14 million June 1 $ 9 million June 1 Energy Efficiency $6 million November TBD November

21 Major Construction Projects Underway • Environmental – Lawrence Energy Center • Install fabric filters, rebuild scrubbers, precipitator, low NOx system – Jeffery Energy Center • Planning for SCR (part of settling New Source Review) – La Cygne Energy Center • Transmission – Completed Hutchinson to Salina 345 kV – Clearing R.O.W. for Wichita to Oklahoma 345 kV – Planning and design for Prairie Wind – Identified numerous future SPP 345 kV projects • SmartStar Lawrence – $40 million project reduced by 50% DOE match • Advanced outage management • Automated metering infrastructure

22 Capital Forecast Outlook • Original 2010-2012 CAPEX Forecast – 2010 $665 – 2011 $801 – 2012 $899 • What’s changed – Favorable project budgets & schedule refinement have reduced 2010 planned CAPEX to $600 million • Will update 2011-2013 with release of 2010 results

23 Projected Rate Base 2009 – 2014 (in billions) $3.2 $3.4 $3.4 $3.5 $3.7 $3.9 2009 2010 2011 2012 2013 2014 Base Renewable Environmental Transmission $6.6 $6.3 $5.8 $5.2 $4.7 $4.3

24 Westar Coal Fleet Emission Control Equipment Unit Scrubber Precipitator Fabric Filter Low NOx SCR Jeffrey 1 Yes Yes No plans Yes Planned Jeffrey 2 Yes Yes No plans Planned No plans Jeffrey 3 Yes Yes No plans Yes No plans La Cygne 1 Yes NA Planned Yes Yes La Cygne 2 Planned Yes Planned Planned Planned Lawrence 3 No plans Yes No plans Planned No plans Lawrence 4 Yes NA Planned Planned No plans Lawrence 5 Yes NA Planned Planned No plans Tecumseh 7 No plans Yes No plans Yes No plans Tecumseh 8 No plans Yes No plans Planned No plans NA - Not Applicable No present projects underway for CO2

25 Dramatic Improvement in Air Quality 0 40 80 120 2005 2006 2007 2008 2009 20 40 60 2005 2006 2007 2008 2009 Sulfur Dioxide 76% (000 tons) Nitrogen Oxide 49% (000 tons)

26 Transmission

27 Major Transmission Projects • Wichita – Salina Segment 1 Wichita-Hutchinson • Completed December 2008 • Investment $100 million Segment 2 Hutchinson-Salina • Completed August 2010 • Investment $100 million • Rose Hill – Oklahoma Construction to follow the Hutchinson-Salina line • Target completion mid 2012 • Investment $100 million Segment 1 Segment 2 Rose Hill to Oklahoma

28 Prairie Wind Transmission, LLC • Joint venture formed between Westar Energy and Electric Transmission America – Venture to develop high voltage transmission in Kansas – 50% Westar / 50% ETA • ETA is joint venture between AEP Transmission Holding Company and MEHC America Transco, LLC (wholly-owned subsidiary of MidAmerican Energy Holdings Company) Prairie Wind Project

29 Prairie Wind Transmission, LLC • Received FERC incentives – Abandonment costs – Recovery of pre-commercial development costs – CWIP recovery in rate base – 50/50 capital structure – Allowed ROE of 12.8% • KCC – Stipulation plans for double circuit 345 kV construction – Routing and siting to follow SPP plans • Southwest Power Pool – Regional cost allocation approved by FERC – “Notice to Construct” accepted – JV became a member of the SPP – Awaiting SPP adoption of formula rate

30 Next Steps and Tentative Schedule • Complete assignments by Westar and Co-op to Prairie Wind • Monitor Integrated Transmission Plan to determine voltage • Obtain siting authority from KCC • Engineer and design • Acquire rights-of-way • Construct – Anticipated completion in 2014

31 Potential for High Voltage Transmission Growth C New Lines A. JEC to Iatan Energy Center B. JEC to Concordia C. Concordia to Salina D. Salina to Hays E. JEC to Swissvale F. Hutchinson to Spearville G. Wichita to Rose Hill H. Wolf Creek to Emporia G A B D E F H Jeffrey Energy Center Wolf Creek Hutchinson Swissvale Concordia Spearville Emporia Rose Hill Hays Wichita Salina The SPP has studied multiple projects to be developed over the next decade to ensure transmission system reliability, growth of renewable energy and cost efficient production and transmission of electricity. Iatan

32 Rates and Regulation

33 Regulatory Approach • A sound regulatory and energy policy platform – KCC and FERC • Ultimately results in lower rates for customers Time Traditional GRC Riders coupled with GRC Ultimately, lower rates

34 Methods of Cost Recovery Revenue Requirement Method of Recovery Comment 1. Fuel, purchased power and environmental consumables Quarterly adjustment based on forecasted cost, with annual true-up Adjusts prices for actual costs, protecting both customers and investors from mispricing 2. Environmental capital Environmental Cost Recovery Rider adjusts annually Allows annual price adjustment to reflect capital costs for investments in emission controls 3. Transmission rate recovery FERC formula rate adjusts annually; companion retail tariff to reflect current revenue requirement Timely recovery of transmission system operating and capital costs 4. General capital investments Traditional rate case, but with predetermination and CWIP Typical rate case reflects current level of operating expenses and most recent plant investment 5. Property taxes Annual adjustment to reflect current property taxes Allows timely recovery of actual property tax costs in current rates 6. Extraordinary storm damages Traditionally deferred accounting treatment as rate base Smoothes period expenses for extraordinary storm restoration costs 7. Pension expenses Deferred as a regulatory asset for subsequent recovery Smoothes period expenses in excess of amount in base rates 8. Energy efficiency programs Deferred as a regulatory asset for subsequent recovery Smoothes period expenses for energy efficiency programs

35 Retail Energy Cost Adjustment (RECA) • Provides timely price adjustments for fuel and purchased power costs • Retail rates based on forecast of fuel and purchased power costs and retail sales – Set quarterly – Difference between forecast and actual is deferred • Quarterly approach produces more stable prices • Annual settlement of deferred balance • RECA also used to rebate wholesale margins as a credit to retail cost of service – Energy Marketing (i.e., non-asset) margins continue to be excluded from rate setting

36 Environmental Cost Recovery Rider Mechanics • ECRR adjusts retail rates annually to reflect capital investments in  emission controls – Investments as of December 31 recovered in rates subsequent June – Eliminates need to file a rate case to capture rate base additions • Return of and on capital that is in service December 31 • Return on capital not yet placed in service December 31 (i.e., CWIP) • ECRR reduces regulatory lag – Regulatory lag limited to months, rather than longer lag typically associated with traditional rate case filings

37 Illustrative ECRR Mechanics (1) Illustration reflects only the projects publicly announced and assumes one-half of annual investment in service at year end (2) Illustration uses 12% pretax return and 4% depreciation recovery (3) Annual ECRR Tariff is effective June 1; assume Jan-May at prior year revenue requirement and Jun-Dec at new revenue requirement Clean Air Investment (1) 2008 2009 2010 2011 2012 Year 1 Investment 238.4 $    Year 2 Investment 85.2 $     Year 3 Investment 181.2 $    Year 4 Investment 350.1 $    Year 5 Investment 414.7 $     Environmental Investment 238.4 $    323.6 $    504.8 $    854.9 $    1,269.6 $   Accumulated Depreciation Clean Air Investment Depreciation on Year 1 Investment 4.8 $       9.5 $       9.5 $       9.5 $       9.5 $         Depreciation on Year 2 Investment 1.7 3.4 3.4 3.4 Depreciation on Year 3 Investment 3.6 7.2 7.2 Depreciation on Year 4 Investment 7.0 14.0 Depreciation on Year 5 Investment 8.3 Annual Depreciation 4.8 $       11.2 $     16.6 $     27.2 $     42.5 $       Total Accum Depreciation for Environmental Investment 4.8 $       16.0 $     32.6 $     59.8 $     102.3 $     Environmental Investment, net of Accum. Depreciation 233.6 $    307.6 $    472.2 $    795.1 $    1,167.3 $   Return on prior YE investment balance (2) 28.0 $     36.9 $     56.7 $     95.4 $       Return of prior YE investments completed 4.8 11.2 16.6 27.2 Annual ECRR Revenue Requirement 32.8 $     48.2 $     73.2 $     122.6 $     Estimated calendar year revenue recognition (3) 19.1 $     41.8 $     62.8 $     102.0 $     Cumulative ECRR revenue recognition 19.1 $     60.9 $     123.7 $    225.7 $

38 Transmission Cost Recovery • FERC formula transmission rate – Changes in cost of service reflected in annual update of FERC tariff • Update posted each October using projected test year – Capital expenditures – O&M – Tariff based on year-end consolidated capital structure • FERC transmission changes effective January 1 • Allowed ROE 11.3% • Annual true-up compares projected revenue requirement to actual, with difference incorporated into next update – Incentives on recently completed central Kansas line • 12.3% ROE • Accelerated book depreciation of 15 vs. 45 years • Transmission Delivery Charge (TDC) – Retail rates adjusted to match changes to FERC tariff

39 Transmission Formula Rate Mechanics • Fixed formula with changing inputs – Updated annually using Form 1 data – Established protocols for updates • Uses projected test year – Rate base (based on 13 month average) – O&M, depreciation and taxes – Cost of debt • Annual true-up incorporated in subsequent year’s formula inputs Establish Proj. 2010 Rev.  Req. Establish Proj. 2011 Rev. Req. Start of 2011 Rate Year Start of 2010 Rate Year FERC Form 1 Released True-up between ’09 Proj. Rev. Req. and Actual Rev. Req. Transmission Formula Rate Time Line

40 Statutes for Predetermination and CWIP • Predetermination – Utilities can obtain order establishing ratemaking principles that will apply over the life of the asset • Construction Work in Progress (CWIP) – Utilities can include CWIP in rate cases

41 Pension Tracker • Defer as regulatory asset shortfall between funding of GAAP pension/OPEB expense and pension/OPEB currently authorized in rates • Maintain minimum funding level equal to GAAP pension/OPEB expense • Recover deferred expenses through multi-year amortization as part of next rate case

42 Energy Efficiency Initiatives • SmartStar Lawrence smart grid project – Installing 48,000 “smart” meters – Advanced outage management system – Total project cost of $40 million • Reduced by 50% DOE match – Expect to implement over 2 - 3 years • Deferred accounting for the cost of energy efficiency initiatives, such as – Smart thermostats – Customer educational programs – Demand response programs

43 Kansas’ Renewable Requirements • Renewable Portfolio Standard established – Installed capability standard in lieu of energy standard • 10% of peak load by 2011, 15% by 2016 and 20% after 2020 – Implies additional 150 to 200 MW for Westar – If generated in Kansas, treated at 110% of requirement – Relief from standard possible if costs would increase prices >1% • Potential to offset with RECs for initial period • Limited net metering – Limited to 1% of peak demand – Customer’s net metered sales can’t produce net negative sales • Environmental predictability – Legislation precludes state air emission levels from being more stringent than federal standards

44 Capital Structure for Ratemaking (Per Recent Orders) Capitalization Ratio Cost of Capital Weighted Cost of Capital Pre-tax Weighted Cost of Capital Long-term debt 48.66% 6.55% 3.19% 3.19% Preferred 0.51 4.55 .02 .04 Common 50.83 10.40 5.29 8.77 100.00% 8.50% 12.00% Capitalization Ratio Cost of Capital Weighted Cost of Capital Pre-tax Weighted Cost of Capital Long-term debt 51.46% 5.30% 2.73% 2.73% Preferred 0.47 4.52 .02 .04 Common 48.07 11.30 5.43 8.99 100.00% 8.18% 11.76% KCC FERC Transmission (1) Incentive ROE of 12.3% for applicable rate base (1)

45 Background

46 Westar Energy Legal Structure Kansas Gas and Electric Company Consolidated capital structure is used for ratemaking (Rate regulated utility) (Rate regulated utility) Westar Energy, Inc. Parent Subsidiary Combined company does business under the name “Westar Energy”

47 Original Capital Expenditure Forecast 2010 - 2012 Actual Forecast Forecast Forecast Forecast 2009 2010 2011 2012 2010-2012 Method of Cost Recovery Generation   Replacements and other 103.9 $     99.9 $       106.2 $    126.6 $    332.7 $    General Rate Case (GRC)   Additional Generation      Emporia Energy Center 4.4            -            -            -            -           Predetermination/CWIP/ARC*      Wind Energy 69.5          -            -            -            -           Predetermination/CWIP/ARC*      Turbine upgrade - Wolf Creek 12.2          12.3          10.1          -            22.4         GRC   Environmental 85.2          181.2        350.1        414.7        946.0       ECRR Nuclear Fuel 19.8          36.1          26.7          26.1          88.9         Fuel adjustment clause Transmission 156.6        203.6        167.8        175.1        546.5       FERC formula rate/TDC Distribution   New customers, replacements & other 92.7          102.3        114.6        118.6        335.5       GRC   AMI / Smart grid -            8.9            9.2            12.3          30.4         GRC Other 11.5          20.3          16.0          25.3          61.6         GRC Total 555.6 $     664.6 $    800.7 $    898.7 $    2,364.0 $ *Abbreviated rate case

48 Westar’s Plants Westar's MW Operator Years Installed Pulverized coal Jeffrey Energy Center 1,991 Westar 1978, 1980, 1983 Lawrence Energy Center 529 Westar 1954, 1960, 1971 Tecumseh Energy Center 202 Westar 1957, 1962 LaCygne Station 709 KCPL 1973, 1977 Nuclear Wolf Creek 545 WCNOC (1) 1985 Gas steam turbine Gordon Evans Energy Center 537 Westar 1961, 1967 Hutchinson Energy Center 162 Westar 1965 Murray Gill Energy Center 293 Westar 1952, 1954, 1956, 1959 Neosho Energy Center 67 Westar 1954 Gas combustion turbine Abilene Energy Center 64 Westar 1973 Gordon Evans Energy Center 295 Westar 2000, 2001 Hutchinson Energy Center 230 Westar 1974, 1975 Spring Creek Energy Center 278 Westar 2001 Tecumseh Energy Center 37 Westar 1972 Emporia Energy Center 663 Westar 2008, 2009 Gas combined cycle State Line 199 EDE Co. 2001 Diesel Gordon Evans Energy Center 3 Westar 1969 Hutchinson Energy Center 3 Westar 1983 Wind Meridian Way 96 Horizon (2) 2008 Central Plains 99 Westar 2009 Flat Ridge 100 Westar (3) 2009 Available generation At Dec. 31, 2009 7,102 (1) Wolf Creek Nuclear Operating Company is a company formed specifically to operate Wolf Creek for its owners.  WCNOC is governed by a board of directors consisting of the CEO of WCNOC and senior executives of the plant owners. (2) 100% of generation purchased under Power Purchase Agreement (PPA) (3) 50% owned and 50% of generation purchased under PPA from BP Alternative Energy Westar Energy 2009 Results NERC 5-Year Average Plant Performance 86.3% 81.0% 85.5% 89.3% 87.0% 90.1% 70.6% 73.7% 0% 20% 40% 60% 80% 100% Coal Capacity Factor Wolf Creek Capacity Factor Coal Availability Factor Wolf Creek Availability Factor

49 Westar Energy Coal Fleet Unit Capacity (MW) WR Share (MW) Age Heat Rate (Btu/kWh) Net Book Value (Millions) $/KW Jeffrey 2 725            667            30 11,256 200 $         300 $         Jeffrey 1 722            665            32 11,204 216 $         325 $         Jeffrey 3 716            659            27 11,265 325 $         493 $         Lawrence 5 371            371            39 10,713 72 $           194 $         La Cygne 1 736            368            37 10,497 117 $         318 $         La Cygne 2 (a) 682            341            33 10,500 14 $           41 $           Tecumseh 8 129            129            48 11,189 16 $           124 $         Lawrence 4 108            108            50 11,605 41 $           380 $         Tecumseh 7 73              73              53 11,749 28 $           384 $         Lawrence 3 50              50              56 11,707 26 $           520 $         3,431         (a)  Subject to lease agreement

50 Westar-operated plant supply (80%) • JEC supply under contract through 2020 (10+ million tons/year) – 70% has no market openers – 30% reopened on price every 5 years • Next re-pricing will occur in 2013 – All volumes have cost escalators – Rail contract through 2013 • LEC/TEC supply under contract until 2012 (3.5 million tons/year) – 100% at fixed price or capped through 2012 – Rail contract through 2013 Co-owned plant supply managed by GXP (20%) • LAC supply (3 million tons/year) Coal Supply