Westar

Submitted Photo

Editor's note: This story was updated at 3:30 p.m. July 10.  

Two of the region’s largest utilities are taking another run at a merger.

Great Plains Energy, based in Kansas City, Mo., and Topeka-based Westar Energy announced Monday that they would seek regulatory approval for a proposed merger, which if approved would create a Fortune 500 company with $14 billion in assets and approximately 1.6 million customers in Kansas and Missouri.

Stephen Koranda / KPR

Kansas regulators Wednesday blocked the $12 billion purchase of Topeka-based Westar Energy by Great Plains Energy.

Members of the Kansas Corporation Commission had concerns that the purchase price was too high and that the merger wouldn’t create enough efficiencies to guarantee lower costs to customers.

The order from the three-member commission called the proposal “too risky.”

Kansas regulators will consider a compromise that would allow Westar Energy to increase rates for electricity customers by $78 million. That would mean $5 to $7 more a month for most customers. The Kansas Corporation Commission will consider the compromise during hearings starting Monday. Commissioners will decide whether to adopt it or craft their own plan.

zkoenig / Panoramio

Compared to other areas of the country, Missouri and Kansas have it pretty good when it comes to energy pricing.