Evergy, Inc. (EVRG): Marketing Mix Analysis [Dec-2025 Updated]

You're digging into Evergy, Inc. right now, trying to map out how a regulated utility navigates the massive shift toward clean energy while keeping the lights on for 1.7 million customers across Kansas and Missouri. Honestly, their marketing mix is where the rubber meets the road: they're pushing a product that's already about 50% carbon-free, while their pricing is locked down by regulators like the KCC, with ROE settlements around 9.7% in some cases. So, what does this mean for their promotion strategy targeting data centers and their physical delivery network? Below, we break down the precise Product, Place, Promotion, and Price to give you the clear picture you need for your analysis.

Evergy, Inc. (EVRG) - Marketing Mix: Product

The product Evergy, Inc. offers is the regulated delivery of electricity, which encompasses the entire value chain from generation to the customer meter.

Core product is regulated electric generation, transmission, and distribution across its service territories in Kansas and Missouri. This service is characterized by reliability and adherence to regulatory mandates.

The generation mix supports sustainability objectives, with more than 50% of the power provided to homes and businesses coming from carbon-free sources as of late 2024. Evergy, Inc. has a stated goal of reaching net-zero carbon emissions by 2045. Carbon emission levels are reported as 51% lower than 2005 levels. The company retired more than 2,400 MW of fossil-fuel generation since 2005.

Evergy, Inc. is actively executing on its Integrated Resource Plan (IRP) to meet growing demand, particularly from data centers. The 2025 IRP calls for significant capacity additions between 2025 and 2035/2040.

The planned investments in new generation resources include:

• Investing in 624 MW of solar resources by 2025.
• Adding 1,860 MW of natural gas-fired resources by 2030.
• Adding 5,850 MW of additional firm, dispatchable natural gas generation by 2040.

The approved infrastructure projects include specific facilities, such as the Viola gas plant, estimated to cost $788.75 million, and the McNew gas plant, estimated at $800.52 million, with Evergy Kansas Central being a 50% co-owner of these two 710-megawatt combined cycle gas turbine plants.

The generation capacity breakdown as of the end of the latest reported year shows the following installed capacity in megawatts (MW):

Smart grid technology deployment is a focus for grid modernization. As of the end of 2024, 100% of total electric customers had advanced meters installed. Capital expenditure planned for AMI meters, new customer meters, and replacements between 2025 and 2028 is $59,600,000.

Evergy, Inc. is offering customer-side solutions to support the energy transition and manage demand. These offerings include:

• Offering an EV Charger Installation Rebate for customers installing a dedicated Electric Vehicle charger at home.
• Providing a Home Battery Storage program for energy storage solutions.

The company's commitment to smart grid technology is also evidenced by its ongoing investment in the Gridstream Connect platform, which connects intelligent devices across the distribution system.

Evergy, Inc. (EVRG) - Marketing Mix: Place

The Place strategy for Evergy, Inc. centers on its regulated geographic footprint, which serves as the sole physical channel for electricity delivery.

Evergy, Inc. operates under a regulated monopoly model, providing exclusive service territory across the states of Kansas and Missouri. This structure dictates the entire distribution strategy, as there are no direct retail competitors for the final mile of product delivery.

The scale of the distribution network is defined by its customer base and system capacity:

• Serves approximately 1.7 million electric customers across Kansas and Missouri.
• The projected peak summer demand for 2025 is approximately 10,600 megawatts.
• Key markets served include the Kansas City metropolitan region, leveraging its position in both states.

The distribution network itself is the sole physical channel for the product-electricity-to reach the intended consumers. Capital allocation reflects the importance of maintaining and expanding this physical channel:

A critical component of the current Place strategy involves positioning the service territory to accommodate massive new load additions, primarily from data centers. This requires ensuring the physical grid infrastructure can handle the projected growth. The pipeline for large new customer load is substantial:

• Overall economic development pipeline exceeds 11 gigawatts (GW).
• The pipeline includes 6 GW of potential customers currently in inquiry mode.
• This pipeline growth is significantly larger than the 2025 projected peak summer demand of 10,600 megawatts.
• Secured and finalizing agreements with large customers like Google, Meta, and Panasonic total 800 megawatts (MW) of load.

The utility is actively building out generation capacity to support this demand, with $501 million allocated to new generation in 2025 as part of the $17.5 billion plan. The company is focused on ensuring the physical capacity exists where and when these large, new industrial customers need service.

Evergy, Inc. (EVRG) - Marketing Mix: Promotion

You're looking at how Evergy, Inc. communicates its value proposition across its service territory in Kansas and Missouri. Honestly, for a utility, promotion is less about flashy ads and more about demonstrating tangible benefits to regulators, large industrial partners, and residential customers alike. Here's the quick math on their current promotional thrust as of late 2025.

Economic Development Wins as Promotional Anchor

Evergy, Inc.'s strategy heavily features its success in attracting major industrial load, which serves as a powerful proof point for reliability and capacity. This is promotion aimed squarely at economic development agencies and state regulators. As of the February 2025 earnings call, the company highlighted wins from major players like Panasonic, Google, and Meta, collectively representing 800 megawatts (MW) of new demand. By the third quarter of 2025, the company noted that Panasonic had completed construction and was ramping up its DeSoto, Kansas facility. The total anticipated peak demand from these large customers is 1.1 gigawatts (GW), with 500 MW expected to be online by 2029. This growth underpins the $17.5 billion five-year capital plan for 2025 through 2029, which is necessary infrastructure to support these wins.

Targeted Advertising and Clean Energy Messaging

The company uses targeted advertising to push its clean energy transition narrative. One reported spend figure for these specific campaigns promoting clean energy transitions was $1.8 million. This contrasts with earlier digital marketing efforts; for instance, in 2023, Evergy, Inc. invested $2.5 million in digital campaigns focused on renewables, reaching about 3.2 million unique viewers. The PR focus ties directly into this, emphasizing the core tenets of the business proposition.

Public Relations Focus: Affordability, Reliability, and Sustainability

Public relations messaging from Evergy, Inc.'s leadership consistently centers on three pillars: affordability, reliability, and sustainability. To demonstrate sustainability, the company noted that about half of its power generation came from carbon-free sources as of early 2025. Affordability is communicated through dividend actions and rate management; for example, the Board declared a third-quarter 2025 dividend of $0.6950 per share, payable on December 19, 2025.

The promotional activities related to the core tenets can be summarized:

• Promoting affordability through competitive rate positioning.
• Highlighting grid resilience and reliability improvements.
• Showcasing progress toward sustainability goals.

Communicating Infrastructure Needs via Regulatory Filings

A significant part of Evergy, Inc.'s communication is directed toward regulatory bodies to secure approval for necessary capital expenditures. This is a form of stakeholder promotion ensuring the financial viability of future service. For instance, in early 2025, the company filed a request with the Kansas Corporation Commission (KCC) to recover investments, asking for a rate increase of $196 million for the Evergy Kansas Central service area. If fully approved, this could translate to an average residential bill increase of about $13.05 (10.36%) per month based on average usage. Furthermore, legislative wins in Missouri (SB 4) and Kansas (SB 98 and HB 2107) in the first quarter of 2025 were promoted as key successes supporting infrastructure investment needs.

Community-Focused Social Programs

Evergy, Inc. promotes its commitment to social responsibility through specific customer assistance programs. The Evergy Stay Connected Pilot program in Kansas is a key example, designed as a three-year initiative to offer monthly bill credits to income-eligible residents. This program builds on the success of the Missouri Economic Relief Pilot Program, which has been running for more than 15 years.

Here's a look at the quantitative context surrounding some of Evergy, Inc.'s customer base and related financial metrics as of late 2025:

The company continues to focus on digital engagement; for instance, a prior time-of-use transition motivated about 30 percent of residential customers to pre-enroll in a time-based plan within roughly three months.

Evergy, Inc. (EVRG) - Marketing Mix: Price

Price, for Evergy, Inc., is fundamentally shaped by regulatory approvals governing revenue requirements and the rates charged to its service territories in Kansas and Missouri. You see this reflected in the utility's financial targets and specific rate case outcomes.

The pricing environment is heavily regulated by the Kansas Corporation Commission (KCC) and the Missouri Public Service Commission (PSC). Utilities like Evergy, Inc. cannot unilaterally change rates; they must secure approval for recovery of investments and operating expenses.

Financially, the company has recently adjusted its forward-looking earnings expectations. Evergy, Inc. has reaffirmed its 2025 adjusted EPS guidance narrowed to $3.92 to $4.02 per share, a revision from the original range of $3.92 to $4.12 per share, primarily due to cooler than normal summer weather impacting demand.

In Kansas, the regulatory process has yielded specific outcomes for Evergy Kansas Central (EKC) customers. Evergy, Inc. initially requested a $196.4 million revenue increase, which included a proposed residential rate increase of about $13.05 per month, effective September 2025. However, a unanimous settlement agreement was approved by the KCC in September 2025, allowing for a lower rate increase of $128 million.

Here's a breakdown of the key figures from the EKC rate case settlement:

The settlement established a 9.7% Return on Equity (ROE) for transmission delivery charges, which covers costs for building and maintaining the transmission system, though Commissioner Dwight Keen partially dissented, viewing the ROE as excessive. The new rates from this settlement began taking effect with the October billing cycle.

In Missouri, pricing mechanisms related to energy efficiency are also under regulatory review. As of late 2025, filings propose a decrease in charges for the Demand Side Investment Mechanism (DSIM) for Evergy Missouri Metro and Evergy Missouri West customers. For instance, a prior filing in June 2025 proposed a decrease for Evergy Metro residential customers on the DSIM Rider from $0.00493 to $0.00402 per kWh. This translated to a potential monthly decrease of approximately $0.91 for a residential customer using 1,000 kWh.

You should note the following specific regulatory actions impacting customer bills:

• KCC approved a settlement for Evergy Kansas Central, not the initial $196.4 million ask.
• The approved EKC residential bill increase is about $8.47 per month for average usage.
• The ROE for transmission delivery charges in the Kansas Central case was set at 9.7%.
• Missouri filings in December 2025 proposed adjusted DSIM charges.
• A previous Missouri DSIM adjustment showed a residential decrease of $0.91 per month per 1,000 kWh.

Finance: draft 13-week cash view by Friday.