The Kansas Corporation Commission has approved a proposal by Black Hills Corp. to acquire natural gas assets owned by Aquila Inc.

The commission also approved Great Plains Energy’s proposed acquisition of Aquila.

The companies announced the approvals Monday.

Black Hills, based in South Dakota, had asked the commission to approve its almost $143 million purchase of Aquila’s Kansas assets, which are based in Lawrence provide natural gas service to 106,000 customers, including people, businesses and others in Lawrence.

Included in that price tag is a $48.15 million “acquisition premium,” which represents a bonus above the assets’ $94.5 million book value.

The company had asked for permission to recoup half of the premium through ratepayers over 25 years, or $963,000 a year. It said it would more than offset that cost through savings generated because it would operate the gas network more efficiently than Kansas City, Mo.-based Aquila.

Under the agreement, Black Hills would not change natural gas delivery rates for its customers for three years. Gas bills could still change, and possibly grow larger, depending on the price of natural gas, which is not regulated by the state.

The Kansas purchase is part of Black Hills’ $940 million acquisition of Aquila’s natural gas assets, which also include operations in Colorado, Iowa and Nebraska. With Monday’s announcement, the company has obtained all necessary state regulatory approval for the deal.

Kansas City, Mo.-based Great Plains, the parent company of Kansas City Power & Light, still needs approval from the Missouri Public Service Commission to complete its acquisition of Aquila.