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Evergy, Inc. (EVRG): Business Model Canvas [Jan-2025 Updated]
US | Utilities | Regulated Electric | NASDAQ
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Evergy, Inc. (EVRG) Bundle
In the dynamic landscape of energy provision, Evergy, Inc. (EVRG) emerges as a pivotal player, transforming how electricity reaches homes and businesses across its service territories. With a sophisticated business model that balances traditional power generation and cutting-edge renewable energy strategies, Evergy navigates the complex energy ecosystem by leveraging innovative technologies, strategic partnerships, and a commitment to sustainable solutions. This comprehensive Business Model Canvas reveals the intricate mechanisms driving Evergy's operations, showcasing how the company generates value, manages resources, and delivers reliable electricity to diverse customer segments while adapting to evolving market demands.
Evergy, Inc. (EVRG) - Business Model: Key Partnerships
Utility Cooperatives and Municipal Energy Providers
Evergy collaborates with multiple utility cooperatives across Kansas and Missouri, serving approximately 1.6 million customers. Key partnership details include:
| Partner Type | Number of Partnerships | Service Area Coverage |
|---|---|---|
| Rural Electric Cooperatives | 17 | Kansas and Missouri regions |
| Municipal Energy Providers | 12 | Urban and suburban areas |
Equipment Manufacturers and Grid Infrastructure Suppliers
Evergy maintains strategic partnerships with infrastructure suppliers:
- Siemens Energy: Grid modernization technologies
- GE Grid Solutions: Transmission equipment
- Schneider Electric: Smart grid infrastructure
Renewable Energy Project Developers
Renewable energy partnership investments:
| Partner | Renewable Project Type | Capacity (MW) |
|---|---|---|
| NextEra Energy | Wind Energy | 600 |
| Apex Clean Energy | Solar Projects | 200 |
State and Federal Regulatory Agencies
Regulatory compliance partnerships include:
- Kansas Corporation Commission
- Missouri Public Service Commission
- Federal Energy Regulatory Commission (FERC)
- Environmental Protection Agency (EPA)
Local Government and Environmental Organizations
Environmental collaboration metrics:
| Organization Type | Number of Partnerships | Focus Area |
|---|---|---|
| Local Governments | 22 | Community sustainability |
| Environmental NGOs | 8 | Carbon reduction initiatives |
Evergy, Inc. (EVRG) - Business Model: Key Activities
Electric Power Generation from Multiple Sources
Evergy generates electricity from the following sources:
| Generation Source | Capacity (MW) | Percentage |
|---|---|---|
| Coal | 3,600 | 44% |
| Natural Gas | 2,200 | 27% |
| Nuclear | 1,200 | 15% |
| Renewable Energy | 1,200 | 14% |
Grid Maintenance and Infrastructure Management
Evergy manages an extensive electrical infrastructure:
- Transmission lines: 6,900 miles
- Distribution lines: 56,000 miles
- Substations: 372
- Annual infrastructure investment: $580 million
Energy Distribution and Transmission
Distribution network details:
| Service Area | States Covered | Total Customers |
|---|---|---|
| Kansas | Kansas | 474,000 |
| Missouri | Missouri | 352,000 |
Customer Service and Billing Operations
Customer service metrics:
- Total customers served: 826,000
- Annual customer service interactions: 2.4 million
- Digital billing platform users: 68%
- Average response time: 12 minutes
Renewable Energy Development and Integration
Renewable energy portfolio:
| Renewable Type | Installed Capacity (MW) | Projected Growth |
|---|---|---|
| Wind | 800 | 15% by 2025 |
| Solar | 400 | 20% by 2025 |
Evergy, Inc. (EVRG) - Business Model: Key Resources
Power Generation Facilities
Evergy operates a diverse power generation portfolio as of 2024:
| Generation Type | Capacity (MW) | Percentage of Total |
|---|---|---|
| Nuclear | 1,253 | 23% |
| Wind | 2,192 | 40% |
| Solar | 512 | 9% |
| Fossil Fuel (Coal/Natural Gas) | 1,575 | 28% |
Transmission and Distribution Infrastructure
- Total transmission line length: 14,235 miles
- Distribution line length: 62,417 miles
- Number of substations: 388
- Service area: 16,000 square miles across Kansas and Missouri
Skilled Workforce and Technical Expertise
Total employees: 5,697
| Employee Category | Number of Employees |
|---|---|
| Technical/Engineering | 1,842 |
| Operations | 2,345 |
| Administrative | 1,510 |
Advanced Energy Management Technologies
- Smart grid investment: $287 million
- Advanced metering infrastructure covering 100% of service territory
- Cybersecurity infrastructure budget: $42 million
Financial Capital for Infrastructure Investments
Financial resources as of 2024:
| Financial Metric | Amount |
|---|---|
| Total Assets | $23.4 billion |
| Annual Capital Expenditure | $1.6 billion |
| Cash and Cash Equivalents | $412 million |
Evergy, Inc. (EVRG) - Business Model: Value Propositions
Reliable and Consistent Electric Power Supply
Evergy serves approximately 1.6 million electric customers across Missouri and Kansas. The company maintains a total generating capacity of 6,612 megawatts as of 2023, with the following generation mix:
| Generation Source | Percentage | Capacity (MW) |
|---|---|---|
| Natural Gas | 40% | 2,644.8 |
| Coal | 33% | 2,182.0 |
| Nuclear | 15% | 991.8 |
| Renewable Energy | 12% | 793.4 |
Competitive Electricity Rates
Average residential electricity rates for Evergy customers:
- Missouri: $0.1148 per kWh
- Kansas: $0.1287 per kWh
Increasing Renewable Energy Portfolio
Renewable energy investments and targets:
- Current renewable energy capacity: 793.4 MW
- Planned renewable energy investments: $1.2 billion by 2030
- Target renewable energy percentage: 25% by 2030
Advanced Digital Customer Service Platforms
Digital service capabilities:
- Mobile app users: 450,000
- Online bill pay penetration: 68%
- Average digital customer interaction time: 3.2 minutes
Commitment to Sustainable and Clean Energy Solutions
Carbon reduction commitments:
| Carbon Reduction Goal | Target Year | Reduction Percentage |
|---|---|---|
| Carbon Emissions Reduction | 2030 | 50% |
| Net Zero Emissions | 2045 | 100% |
Evergy, Inc. (EVRG) - Business Model: Customer Relationships
Online Account Management Systems
Evergy provides digital platform for customer account management with the following features:
| Digital Service | Availability | User Base |
|---|---|---|
| Online Account Portal | 24/7 Access | Approximately 1.6 million customers |
| Mobile Application | iOS and Android Platforms | Over 250,000 active users |
24/7 Customer Support Channels
Evergy maintains multiple customer support channels:
- Phone Support: (888) 471-5787
- Email Support: customercare@evergy.com
- Live Chat: Available on website
- Social Media Support: Twitter and Facebook platforms
Personalized Energy Efficiency Programs
Evergy offers targeted energy efficiency initiatives:
| Program | Annual Investment | Customer Participation |
|---|---|---|
| Residential Energy Audit | $2.3 million | 45,000 customers |
| Commercial Energy Rebates | $4.1 million | 1,200 business customers |
Digital Billing and Payment Options
Digital payment infrastructure includes:
- Online Bill Pay
- Automatic Bank Draft
- Credit Card Payments
- Mobile Payment Platforms
Community Engagement and Energy Education Initiatives
Community programs statistics:
| Initiative | Annual Reach | Investment |
|---|---|---|
| School Education Programs | 75 school districts | $650,000 |
| Community Solar Projects | 3,500 participants | $1.2 million |
Evergy, Inc. (EVRG) - Business Model: Channels
Online Web Portal
Evergy's online web portal serves approximately 1.6 million electric customers across Kansas and Missouri. The digital platform processes an average of 725,000 monthly bill payments online.
| Digital Channel Metric | Annual Volume |
|---|---|
| Online Bill Payments | 8.7 million transactions |
| Web Portal User Accounts | 463,000 registered users |
Mobile Smartphone Applications
Evergy's mobile application supports real-time energy usage tracking and bill management for customers.
- Mobile app download count: 218,000
- Monthly active users: 94,000
- Mobile bill payment percentage: 22% of total digital payments
Customer Service Call Centers
Evergy operates two primary customer service call centers located in Kansas and Missouri.
| Call Center Metric | Annual Performance |
|---|---|
| Total Customer Interactions | 1.2 million calls |
| Average Call Resolution Time | 7.3 minutes |
Physical Payment Centers
Evergy maintains 37 physical payment locations across Kansas and Missouri service territories.
- Payment center transaction volume: 312,000 annually
- Average transaction value: $127.50
- Peak payment periods: First and last week of each month
Local Energy Offices and Community Outreach
Evergy operates 12 local community engagement offices supporting energy efficiency programs and customer interactions.
| Community Engagement Metric | Annual Performance |
|---|---|
| Community Program Participants | 48,000 individuals |
| Energy Efficiency Program Investments | $18.7 million |
Evergy, Inc. (EVRG) - Business Model: Customer Segments
Residential Electricity Consumers
Evergy serves approximately 1.6 million residential customers across Missouri and Kansas as of 2023.
| Customer Category | Number of Customers | Service Area |
|---|---|---|
| Residential Consumers | 1,600,000 | Missouri and Kansas |
Commercial and Industrial Businesses
Evergy provides electricity to approximately 200,000 commercial and industrial customers.
- Large commercial enterprises
- Small to medium businesses
- Manufacturing facilities
- Retail establishments
| Business Segment | Customer Count | Annual Energy Consumption |
|---|---|---|
| Commercial Businesses | 175,000 | 23,456 GWh |
| Industrial Customers | 25,000 | 15,789 GWh |
Municipal and Governmental Organizations
Evergy serves over 500 municipal and governmental customers across its service territories.
- City governments
- State facilities
- Public infrastructure
- Educational institutions
Agricultural Sector Customers
Evergy supports approximately 35,000 agricultural customers in rural Kansas and Missouri.
| Agricultural Customer Type | Number of Customers | Average Annual Energy Usage |
|---|---|---|
| Farms | 25,000 | 3,456 MWh |
| Agricultural Businesses | 10,000 | 5,678 MWh |
Utility Cooperatives
Evergy partners with 25 utility cooperatives in its service region.
- Rural electric cooperatives
- Wholesale power distribution
- Joint infrastructure agreements
| Cooperative Type | Number of Partnerships | Total Energy Distributed |
|---|---|---|
| Rural Electric Cooperatives | 25 | 8,765 GWh |
Evergy, Inc. (EVRG) - Business Model: Cost Structure
Power Generation and Fuel Procurement Expenses
In 2022, Evergy's total fuel and purchased power expenses were $1,080 million. The breakdown of fuel costs includes:
| Fuel Type | Annual Cost |
|---|---|
| Coal | $612 million |
| Natural Gas | $287 million |
| Nuclear | $181 million |
Infrastructure Maintenance and Upgrades
Evergy invested $765 million in capital expenditures for 2022, with specific allocations:
- Transmission infrastructure: $278 million
- Distribution system upgrades: $412 million
- Generation facility improvements: $75 million
Employee Salaries and Benefits
Total employee-related expenses for 2022 were $512 million, including:
| Expense Category | Amount |
|---|---|
| Base Salaries | $342 million |
| Healthcare Benefits | $87 million |
| Retirement Contributions | $83 million |
Regulatory Compliance Costs
Evergy's regulatory compliance expenses totaled $124 million in 2022, including:
- Environmental compliance: $68 million
- Safety regulations: $36 million
- Reporting and legal fees: $20 million
Research and Development Investments
R&D expenditures for 2022 were $42 million, focused on:
- Renewable energy technologies: $22 million
- Grid modernization: $15 million
- Energy efficiency programs: $5 million
Evergy, Inc. (EVRG) - Business Model: Revenue Streams
Electricity Sales to Residential Customers
In 2023, Evergy reported residential electricity sales revenue of $1.86 billion. The average residential electricity rate was 12.47 cents per kilowatt-hour across their service territories in Kansas and Missouri.
| Customer Segment | Total Customers | Annual Revenue |
|---|---|---|
| Residential Customers | 1.6 million | $1.86 billion |
Commercial and Industrial Power Contracts
Commercial and industrial electricity sales generated $1.45 billion in revenue for Evergy in 2023. The company serves approximately 230,000 commercial and industrial customers across its service areas.
| Customer Type | Number of Customers | Annual Revenue |
|---|---|---|
| Commercial Customers | 200,000 | $1.2 billion |
| Industrial Customers | 30,000 | $250 million |
Renewable Energy Credit Sales
Evergy generated $42 million from renewable energy credit sales in 2023. The company has 1,200 MW of wind generation capacity contributing to these credits.
Grid Transmission Fees
Transmission and distribution services generated $680 million in revenue for Evergy in 2023. The company manages over 14,000 miles of transmission lines.
| Service Type | Revenue | Infrastructure |
|---|---|---|
| Grid Transmission Fees | $680 million | 14,000 miles of transmission lines |
Energy Efficiency Program Revenues
Evergy's energy efficiency programs generated $35 million in additional revenue streams in 2023. These programs cover demand response and energy management services.
- Demand response program participation: 75,000 customers
- Energy efficiency program revenue: $35 million
- Total energy savings: 250 million kWh
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