Evergy Nuclear Decommissioning Trust

Evergy management and a designated trust investment committee oversee the portfolio; external investment managers are used for specific asset classes, though Evergy does not publicly name the firms or individual trustee members. The trust's investment policy is constrained by Nuclear Regulatory Commission (NRC) requirements and Kansas Corporation Commission rate case precedents, which limit risk-taking to preserve the prefunded decommissioning obligation.

Evergy's 2023 annual report disclosed decommissioning trust assets of roughly $1.2 billion attributable to its Wolf Creek ownership share. The NRC requires site-specific decommissioning cost estimates updated triennially; the 2023 estimate for Wolf Creek placed total radiological decommissioning costs in the range of $1.2–$1.4 billion (in current dollars). The trust aims to maintain full funding within the range, with periodic rebalancing to reflect cost updates and market movements.

Per Evergy's public disclosures, the decommissioning trust's alternative sleeve includes private credit, infrastructure, and real assets, alongside the core fixed-income and public equity portfolio. The alternatives allocation is designed to enhance trust returns while remaining within NRC-mandated qualified investment guidelines, which generally exclude speculative, illiquid, or non-arm's-length transactions.