Great Plains Energy, the parent of regulated power utility Kansas City Power & Light, will buy rival Westar Energy for $8.6 billion, the biggest deal in the U.S. power distribution market so far this year.
Falling demand for electricity in both open and regulated markets due to increased energy efficiency and a weak economy has led to several deals as U.S. utilities look to cut costs and diversify their portfolios.
This year, Dominion Resources said it would buy Questar for about $4.4 billion and Exelon closed its $6.8 billion merger with Pepco Holdings.
