-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EFFDUqaW6UZbIE3bHZUy4Jq9UV8UNDZaI4znh1kvfuX6DN0zh6WWQj1HTc2nDfH0 iFFlVon1KcwcQAlma8XfTw== 0000950134-08-022423.txt : 20081219 0000950134-08-022423.hdr.sgml : 20081219 20081219080041 ACCESSION NUMBER: 0000950134-08-022423 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20081218 ITEM INFORMATION: Other Events FILED AS OF DATE: 20081219 DATE AS OF CHANGE: 20081219 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PINNACLE WEST CAPITAL CORP CENTRAL INDEX KEY: 0000764622 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 860512431 STATE OF INCORPORATION: AZ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08962 FILM NUMBER: 081258790 BUSINESS ADDRESS: STREET 1: 400 NORTH FIFTH STREET STREET 2: . CITY: PHOENIX STATE: AZ ZIP: 85004 BUSINESS PHONE: 6023792500 MAIL ADDRESS: STREET 1: 400 NORTH FIFTH STREET STREET 2: . CITY: PHOENIX STATE: AZ ZIP: 85004 FORMER COMPANY: FORMER CONFORMED NAME: AZP GROUP INC DATE OF NAME CHANGE: 19870506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARIZONA PUBLIC SERVICE CO CENTRAL INDEX KEY: 0000007286 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 860011170 STATE OF INCORPORATION: AZ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04473 FILM NUMBER: 081258791 BUSINESS ADDRESS: STREET 1: 400 N FIFTH ST STREET 2: P O BOX 53999 CITY: PHOENIX STATE: AZ ZIP: 85004 BUSINESS PHONE: 6022501000 8-K 1 p13736e8vk.htm FORM 8-K e8vk
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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): December 18, 2008
         
    Exact Name of Registrant as Specified in    
    Charter; State of Incorporation;   IRS Employer
Commission File Number   Address and Telephone Number   Identification Number
 
        
1-8962
  Pinnacle West Capital Corporation
(an Arizona corporation)
400 North Fifth Street, P.O. Box 53999
Phoenix, AZ 85072-3999
(602) 250-1000 		  86-0512431
 
        
1-4473
  Arizona Public Service Company
(an Arizona corporation)
400 North Fifth Street, P.O. Box 53999
Phoenix, AZ 85072-3999
(602) 250-1000 		  86-0011170
     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
     This combined Form 8-K is separately filed by Pinnacle West Capital Corporation and Arizona Public Service Company. Each registrant is filing on its own behalf all of the information contained in this Form 8-K that relates to such registrant and, where required, its subsidiaries. Except as stated in the preceding sentence, neither registrant is filing any information that does not relate to such registrant, and therefore makes no representation as to any such information.
 
 

 

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Item 8.01. Other Events.
SIGNATURES

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Item 8.01. Other Events.
Interim Rate Order
     On December 18, 2008, the Arizona Corporation Commission (the “ACC”) voted to approve an emergency interim base rate surcharge for Arizona Public Service Company (“APS”), effective for all bills issued after December 31, 2008. This surcharge is expected to increase annual pretax retail revenues approximately $65.2 million, and is subject to refund with interest pending the final outcome of APS’ general retail rate case. APS had requested an interim increase of approximately $115 million in annual pretax retail revenues. For a typical residential customer on APS’ standard rate schedule, the surcharge will result in a monthly increase of $1.46 in the winter and $1.99 in the summer.
     The decision requires that APS (a) examine its operations and expenses, targeting additional cuts of at least $20 million, and reinvest the savings and surcharge revenues “in infrastructure and technology necessary to serve APS customers and reduce the need for external debt financing”; (b) file with the ACC periodic reports of communications with credit ratings agencies; and (c) post a $10 million bond or letter of credit until the ACC issues a final order in APS’ general retail rate case.
     The ACC is expected to issue a written order reflecting the decision before year-end. Each party to the proceeding will have the option of filing a motion for reconsideration of the written order within 20 days of its issuance.
     Additionally, during the ACC open meeting in which the ACC approved the interim base rate surcharge, the director of the ACC Utilities Division stated that the Division’s prepared testimony in APS’ general rate case, which is scheduled to be filed with the ACC on December 19, 2008, will recommend an increase in annual pretax retail revenues that is more than the $65.2 million granted for the interim base rate surcharge.
     For more information regarding APS’ request for an interim base rate surcharge and the general retail rate proceeding, see “Motion for Approval of Interim Rate” and “2008 General Rate Case” in Note 5 of Notes to Condensed Consolidated Financial Statements in the Pinnacle West/APS Quarterly Report for the fiscal quarter ended September 30, 2008.

 

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SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  PINNACLE WEST CAPITAL CORPORATION
(Registrant)
 		  
Dated: December 18, 2008  By:   /s/ James R. Hatfield    
    James R. Hatfield   
    Senior Vice President and
Chief Financial Officer 		  
 
  ARIZONA PUBLIC SERVICE COMPANY
(Registrant)
 		  
Dated: December 18, 2008  By:   /s/ James R. Hatfield    
    James R. Hatfield   
    Senior Vice President and
Chief Financial Officer 		  
 

 

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