Evergy is a regulated electric utility serving customers across Kansas and Missouri, generating and delivering electricity under rates approved by state utility regulators in both states. As a regulated utility, its earnings are tied to a rate of return approved by regulators on the capital it invests in its electric grid and generation infrastructure, providing predictable earnings in exchange for accepting limits on customer rates. The company was formed through the merger of two previously separate Kansas and Missouri utilities, combining their service territories and infrastructure under one holding company structure. Evergy's growth is tied to the rate base expansion it can achieve through regulator-approved infrastructure investment, including grid modernization and the ongoing transition of its generation fleet toward renewable energy sources, along with regional economic and population growth across its two-state service territory.