Topeka Low summer temperatures cooled projected earnings for Westar Energy, the company announced Wednesday.
The state’s largest electric utility revised downward its full-year 2009 earnings guidance to a range of $1.35 to $1.45 per share from a previous guidance of $1.65 to $1.80 per share.
The reasons for the downward revision were the coolest third quarter since 1967 and lower energy marketing margins, the Topeka-based company said.
The depressed energy market has been caused by wholesale energy prices hitting their lowest levels in a decade, Westar officials said.
In response, Westar said it notified 21 employees in energy trading that their positions are either being eliminated or they are being reassigned.
Westar has a total work force of nearly 2,400 employees. The company provides service to approximately 684,000 customers in Kansas.