Pinnacle West Capital Corporation
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- Pinnacle West Capital Corporation Pinnacle West Capital Corporation (NYSE: PNW) is an investor-owned electric utility holding company headquartered in Phoenix, Arizona, and founded in 1985. The company, through its principal subsidiary Arizona Public Service Company (APS), Arizona's largest and longest-serving electric utility, generates, transmits, and distributes electricity to approximately 1.4 million residential, commercial, industrial, and wholesale customers across 11 of Arizona's 15 counties, primarily in the Phoenix metropolitan area and regions including Flagstaff, Prescott, Yuma, and Douglas; APS operates a diverse generation portfolio encompassing nuclear power from the co-owned Palo Verde Generating Station, one of the largest in the United States, as well as natural gas, coal, oil, solar facilities such as the utility-scale AZ Sun (180 megawatts) and Red Rock (44 megawatts) plants, and thirty small-scale solar systems, alongside energy efficiency programs offering rebates and incentives, renewable energy solutions including solar and wind options, and support for distributed generation and grid modernization. Additional subsidiaries include El Dorado and others focused on related energy activities. In recent developments, the company reports consolidated net income of $608.8 million for full-year 2024, reflecting strong customer growth and operational performance; it maintains a commitment to 100% clean and carbon-free electricity by 2050, with ongoing expansions in solar and sustainable practices; in January 2024, it completed the sale of its subsidiary Bright Canyon Energy Corporation, streamlining operations; and through APS, it continues investments in infrastructure reliability, community support programs including utility bill assistance, and economic development initiatives.
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