Arizona Public Service (APS)
Arizona Public Service Company is Arizona's largest and longest-serving electric utility, providing electricity to approximately 1.4 million customers across an 11-county service territory that covers most of Arizona outside the Tucson metropolitan area. A wholly owned subsidiary of Pinnacle West Capital Corporation (NYSE: PNW), APS is a regulated electric utility operating under the oversight of the Arizona Corporation Commission, which sets the rates and conditions under which APS provides electric service to its residential, commercial, and industrial customers. According to its website at aps.com, the company has provided electric service to Arizona since 1886 and is deeply committed to providing safe, reliable, and affordable electricity while advancing Arizona's clean energy future.
APS's generation portfolio, as described at aps.com, includes a diverse mix of baseload nuclear generation from the Palo Verde Nuclear Generating Station — the nation's largest nuclear power plant by generation capacity — along with natural gas generation, renewable energy from solar and wind resources, and pumped storage hydroelectric generation. The company has set an ambitious clean energy goal of achieving 100% clean energy by 2050, with interim targets including reaching 65% clean energy by 2030, and has been aggressively developing and acquiring solar generation and battery storage resources to advance these goals. APS's large-scale solar procurement program and investment in grid-scale battery energy storage represent significant contributions to Arizona's clean energy transition.
APS operates as a cost-of-service regulated electric utility, earning a regulated return on its invested capital base that is determined through rate case proceedings before the Arizona Corporation Commission. According to aps.com, the company's rate base investments — encompassing generation, transmission, distribution, and customer service infrastructure — form the financial foundation of the business, with capital deployment focused on grid modernization, clean energy development, and system reliability improvements that serve the long-term interests of APS's customers and shareholders. APS's Arizona-centric focus, nuclear baseload advantage, clean energy commitment, and constructive regulatory relationship make it a distinctive participant in the Western U.S. electric utility sector and an important component of Arizona's economic and energy infrastructure.