Company Profile For Pinnacle West Capital Corporation

Pinnacle West Capital Corporation (Pinnacle West) owns Arizona Public Service Company (APS), its major subsidiary. APS is a vertically integrated electric utility that provides either retail or wholesale electric service to most of the States of Arizona. Pinnacle West’s other principal subsidiary is SunCor Development Company (SunCor), which is engaged in real estate development activities in the western United States. Pinnacle West operates in two segments: the regulated electricity segment (accounting for 93% of operating revenues during the year ended December 31, 2008), which consists of regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution, and the real estate segment (accounting for 4% of operating revenues in 2008), which consists of SunCor’s real estate development and investment activities.

BRIEF: For the nine months ended 30 September 2009, Pinnacle West Capital Corporation's revenues decreased 1% to $2.61B. Net income from continuing operations decreased 59% to $106.8M. Revenues reflect the absence of income from marketing & trading operations. Net income also reflects the presence of real estate impairment charge, higher depreciation & amortization expenses, a rise in operations & maintenance expense and increased interest expense.

Pinnacle West Capital Corporation
400 North Fifth Street
P.O. Box 53999
Phoenix   AZ   85072
P: +1602.2501000

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