8-K

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) July 3, 2002

Aquila, Inc.
(Exact name of registrant as specified in charter)

Delaware
(State or other jurisdiction
of incorporation) 1-03562
(Commission File Number) 44-0541877
(I.R.S. Employer
Identification No.)

20 West 9th, Kansas City, Missouri (Address of principal executive offices)	64105 (Zip Code)
Registrant's telephone number including area code: (816) 421-6600

(Former name or former address, if changed since last report): Not Applicable

Item 5. Other Events.

        On July 1, 2002 Quanta Services, Inc. announced it was revising its second quarter 2002 earnings guidance to $.03 to $.05 per share, down from its previous guidance of $.18 to $.22 per share and full year 2002 earnings guidance to $.45 to $.55 per share down from its previous guidance of $1.12 to $1.20 per share. These estimates do not include proxy costs or special charges. On July 2, 2002 the last reported sales price of Quanta's common stock on the New York Stock Exchange was $2.92, down from a previous closing price of $9.14 on July 1, 2002.

Item 7. Financial Statements and Exhibits.

(a)

Exhibit—99.1, Press Release dated July 2, 2002, regarding revised earnings estimate of Quanta Services, Inc.

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Signatures

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Aquila, Inc.
By:	/s/  DAN STREEK Dan Streek Chief Financial Officer

Date: July 3, 2002

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Signatures

EX-99.1

Exhibit 99.1

Aquila Comments on Quanta Services, Inc.; Confirms 2002 EPS Guidance of $1.30-$1.40 Per Share

KANSAS CITY, Mo., July 2, 2002 (BUSINESS WIRE)—Aquila, Inc. (NYSE:ILA) stated today that it was surprised by the reduced earnings guidance issued by Quanta Services, Inc. (NYSE:PWR), which is expected to have a negative impact on Aquila's full-year 2002 results of approximately $.05 per fully diluted share.

        "We don't plan to revise Aquila's full-year guidance as a result of the Quanta announcement and expect to make up the earnings through reduced costs as part of our ongoing Project BBB+/Baa1 initiative," said Robert K. Green, Aquila's president and chief executive officer.

        With an approximately 38 percent equity interest, Aquila is Quanta's largest shareholder.

        Based in Kansas City, Missouri, Aquila operates electricity and natural gas distribution networks serving more than six million customers in seven states and in Canada, the United Kingdom, New Zealand and Australia. The company also owns, operates and contractually controls power generation, natural gas and coal processing assets. At March 31, 2002, Aquila had total assets of $12.3 billion. More information is available at www.aquila.com.

Forward-Looking Information

        "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The terms "expected to have," "plans to" and similar terms identify forward-looking information. Although Aquila believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. Important factors that could cause actual results to differ materially from those contained in the forward-looking statements include: unanticipated events; abnormal weather conditions; unanticipated financial market conditions, including changes in exchange rates, interest rates, and commodity prices; prices of natural gas, natural gas liquids, and electricity; the failure to successfully execute the restructuring of our trading operations; and adverse changes in our credit rating. In light of these risks, uncertainties, and assumptions, the forward-looking events discussed might not occur.

CONTACT: Aquila, Inc.
Media:
Mary Amundsen, 816/467-3652
Media Relations, 816/467-3000
Investors:
Ellen Fairchild, 816/527-1409