PNW

Pinnacle West Capital Corporation operates as an energy holding company primarily through its principal subsidiary, Arizona Public Service Company (APS), one of the largest electric utilities in the southwestern United States. Headquartered in Phoenix, Arizona, the company provides retail electricity service to approximately 1.4 million customers across an 35,000-square-mile service territory in north, central, and southern Arizona. APS generates electricity through a diverse portfolio that includes nuclear, natural gas, coal, and renewable energy sources, with the Palo Verde Nuclear Generating Station serving as a cornerstone asset and the largest nuclear power plant in the United States. The company employs approximately 6,000 people and generated over $4 billion in annual revenue. Pinnacle West maintains a strong commitment to clean energy transition, targeting 65% clean energy by 2030 and 100% clean, carbon-free electricity by 2050. Recent strategic initiatives include significant investments in solar generation, battery storage facilities, and grid modernization projects to enhance reliability and sustainability. The company serves a rapidly growing market, with Arizona consistently ranking among the fastest-growing states in population. As a regulated utility, Pinnacle West operates under oversight from the Arizona Corporation Commission, which sets customer rates and approves major capital investments, providing a relatively stable and predictable business model for long-term investors.