TOPEKA, Kan.— Westar Energy, Inc. today announced earnings of $53 million, or $0.41 per share, for the second quarter 2014 compared with earnings of $67 million, or $0.53 per share, for the second quarter 2013.

Without proceeds from its corporate owned life insurance program, second quarter 2013 earnings would have been $57 million or $0.45 per share. Earnings for the six months ended June 30, 2014 were $122 million, or $0.95 per share, compared with $118 million, or $0.93 per share, for the same period in 2013. Without COLI proceeds, the first half of 2013 earnings would have been $108 million or $0.86 per share.

Lower net income for the three months ended June 30, 2014 was driven largely by no corporate-owned life insurance proceeds and higher planned maintenance costs for the generating fleet. These factors were partially offset by higher revenues for the quarter.

Higher net income for the six months ended June 30, 2014 was largely driven by higher revenues. The higher revenues are due principally from higher energy sales from colder weather in the first quarter and higher prices resulting from investments in air quality controls and transmission infrastructure.