Regulators seek salary details at Westar

? Westar Energy Inc. officials said Thursday they would comply with a request from regulators to divulge the details of compensation agreements with top executives, including former president David Wittig.

Company spokesman Doug Lawrence said the company would not challenge the Kansas Corporation Commission’s order, issued Wednesday. However, Westar is exploring whether some compensation information must be filed under confidential seal.

“We intend to comply fully with the commission’s order,” Lawrence said.

The KCC order was in response to a petition filed by James Zakoura, attorney for the Kansas Industrial Consumers, who has been critical of Westar’s rates, management and $3.2 billion in debt. He said KIC would fight any documents released to regulators that remained private.

“There is absolutely no reason in the world that it should remain confidential,” Zakoura said.

Zakoura has looked through Westar’s management agreements and estimates that Wittig’s compensation package could total between $50 million and $100 million.

Doug Lake, Westar’s chief strategic officer, considered a close associate of Wittig, could get between $25 million and $32 million, Zakoura said.

Lawrence declined to comment on the figures.

Wittig is under federal indictment for alleged fraud involving a personal loan for $1.5 million. He pleaded innocent to eight counts but resigned Nov. 22.

A day later, Westar hired Jim Haines, a former Westar executive who left the company in 1996 to head El Paso (Texas) Electric.

Haines begins work Monday, with Westar’s board of directors meeting Wednesday to elect a new chairman.

Also on Thursday, Westar filed a response to a Nov. 8 order by the KCC requiring the company to restructure and reduce its debt by $100 million a year. The company called the restructuring its “No. 1 priority,” a sentiment expressed earlier by Haines.

Westar provides electric service to more than 647,000 customers in Kansas, including Lawrence. The company’s stock rose 20 cents Thursday to close at $11.60.