1. 1 June 22, 2010 Sheila Gropp True-Up Update June 15, 2010 Posting Formula Rate Customer Meeting

2. 2 Protocols Definitions Rate Year is defined as January 1 through December 31, year Rate is in effect. True-Up 1 st phase of developing the new Rate Year Annual Transmission Revenue Requirement (ATRR) based on historical (actual) data (primarily Form 1 data from previous year) Posted by June 15 each calendar year. Annual Update 2 nd phase – completes the update process for Rate Year ATRR uses historical data already collected during True-Up Phase adds in the projected data is calculated and posted by October 15 each calendar year.

3. 3 Protocols Timeline ********************************************************************************************* Rate Year: January 1 – December 31, 2011 ********************************************************************************************* True Up Update: June 15, 2010 True Up Customer Meeting: June 22, 2010 <<< we are here This date is kick off for Review Period True Up Information Requests Period – 75 days: August 30, 2010 Issues - Westar Energy Response Date: Good faith effort to respond within 10 business days from date of information request. Additional periods for data review resolutions, per Protocols posted on WR OASIS ********************************************************************************************** Annual Update: October 15, 2010 Annual Update Customer Meeting: October 26, 2010 Potential Repost of Annual Update: November 30, 2010 **********************************************************************************************

4. 4 Protocols OASIS Postings Data Requests OASIS Posting Requirements: Update Calculation Protocols Accounting Manual and changes Data Request Submission Address Submission of Data Requests to: Sheila Gropp Westar Energy 818 Kansas Avenue Topeka, KS 66612 Sheila.A.Gropp@Westarenergy.com Please provide all Data Requests in writing via email or letter.

5. 5 Key Data Locations FERC Form 1 Data - 2009: FERC.gov (Westar Energy Form 1) (Kansas Gas & Electric Form 1) Formula Rate Postings: Westar Energy Oasis http://www.oatioasis.com Select SPP, then Westar Energy Accounting Manual Login: Accounting Data User ID: AFSReader Accounting Data Password: AFSReader#1 Southwest Power Pool Oasis http://www.oatioasis.com Select SPP, Member Postings, then Westar Energy

6. 6 Westar Energys Oasis Site Locating Site http://www.oatioasis.com/ Click on SPP Icon. Its a hyperlink to SPP Oasis Node that contains SPP Transmission Owners Oasis Sites.

7. 7 Westar Energys Oasis Site Locating Site - 2 Click on Westar Icon. Its a hyperlink to new Westar Energy Oasis Site.

8. 8 Westar Energys Oasis Site Home Page

9. 9 Westar Energys Oasis Site Finding Documents The Annual Update is under this Document Directory. Click on the file folder icon or name to open. The sub-folders will appear. Click on the June 15, 2010 Update – True-Up folder. Update Results

10. 10 Westar Energys Oasis Site Finding Accounting Manual Accounting Manual Login Accounting Data User ID:AFSReader Accounting Data Password:AFSReader#1 Under the Transmission Formula Rate (TFR) 2011 Rates Folder, is the sub-folder – Accounting Information as of 12/31/2009 Select this folder to see available files. Under the Accounting Information as of 12/31/2009 Folder are several files. For the Accounting Manual, click on: Accounting Manual as of 12/31/2009

11. 11 Southwest Power Pool OASIS Posting at Member Postings Link SPP OASIS Site

12. 12 Formula Inputs Data and the Update

13. 13 Formula Inputs Index of Template Pages Tab IDSchedule/Worksheet DesignationDescriptionDate to be Posted Actual Net Rev ReqSchedule Actual Net Rev ReqActual net revenue requirements for most recent calendar yearJune 15 Gross Rev ReqSchedule Actual Gross Rev ReqActual gross revenue requirements for most recent calendar yearJune 15 A-1Revenue CreditActual revenue creditsJune 15 A-2Actual transmission loadWE RevenuesJune 15 A-3Actual Retail AdderWE DivisorJune 15 A-4Actual O&M Exclusions (WEN)WE Retail AdderJune 15 A-5Actual Accum Deferred Income Taxes (WEN)WEN O&M ExclusionsJune 15 A-6Actual O&M Exclusions (WES)WEN ADITJune 15 A-7Actual Accum Deferred Income Taxes (WEN)WES O&M ExclusionsJune 15 A-8Actual Depreciation Rate CalculationWES ADITJune 15 A-9Actual Base Plan Funded ProjectsDepreciation AdjustmentJune 15 A-10Actual Wages and SalariesPlant Additions for Upcoming YearJune 15 A-11Actual Incentive Return on Incentive PlantIncentive Plant AdditionsJune 15 A-12Actual Economic Portfolio Funded ProjectsBase Plan Funded AdditionsJune 15 TUTrue-upTrue-up Adjustment and Interest CalculationOct 15 BPFBPF SummaryTotal Actual and Projected BPF projectsOct 15 EPPEPP SummaryTotal Actual and Projected EPP projectsOct 15 Projected Net Rev ReqProjected Net Rev RequirementProjected net revenue requirements for next calendar yearOct 15 Projected Gross Rev Req Projected gross revenue requirements for next calendar yearOct 15 P-1Transmission PlantProjected transmission plant for next calendar yearOct 15 P-2Exp. & Rev. CreditsProjected expenses and revenue credits for next calendar yearOct 15 P-3Trans. Network LoadProjected transmission load for next calendar yearOct 15 P-4BPF ProjectsProjected Base Plan Funded ProjectsOct 15 P-5Econ. ProjectsProjected Economic Portfolio Funded ProjectsOct 15

14. 14 Formula Components 2009 True-up Update Data Included Historical 2009 financial data Westar Energy Form 1 Kansas Gas & Electric Form 1 FERC Approved Incentive Plant – Actual SPP Projects - Actual Template References: Template Form 1 Reference format: Page, Line, Column Worksheet Reference format: Worksheet P-1 (with section if applicable) Yellow areas are change areas

15. 15 Formula Components 2009 True-up Update True Up Update Results – 1 st phase – 2011 Rates 2011 Rate is not complete until the October Update which will apply the Projected data

16. 16 Base Plan Funded Projects Actual A-9 – Actual BPF Plant Gross Plant is the accumulation of plant placed in-service through the end of 2009. $7,694,924 includes plant in-service from 2006-2009. Accm. Deprec. is the total accumulated depreciation on these plant additions based on in-service dates. Formula Components 2009 True-up Update

17. 17 Incentive Projects Actual A-11 – Incentive Plant Formula Components 2009 True-up Update

18. 18 Formula Components 2009 True-up Update TU (True-Up) 2009 Projected vs. 2009 Actual Difference plus interest will become a true-up for the 2011 Rates In October 2010, the Annual TFR Update will complete the 2011 Rate Calculation. The Rate established for 2009 was derived from the 2007 actual expenses and plant plus the projected expenses and plant additions. The percentage of change in transmission plant projected for 2009 vs. 2007 actual transmission plant adjusts the 2007 Actual expenses to create the projected 2009 expenses by that same percentage change.

19. 19 QUESTIONS? ~ Future Filing ~ Mark your Calendars Annual Update Customer Meeting October 26, 2010