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): February 8, 2002


                         ARIZONA PUBLIC SERVICE COMPANY
             (Exact name of registrant as specified in its charter)


          Arizona                        1-4473                 86-0011170
(State or other jurisdiction          (Commission             (IRS Employer
      of incorporation)               File Number)        Identification Number)


400 North Fifth Street, P.O. Box 53999, Phoenix, Arizona        85072-3999
        (Address of principal executive offices)                (Zip Code)


                                 (602) 250-1000
              (Registrant's telephone number, including area code)


                                      NONE
          (Former name or former address, if changed since last report)

ITEM 5. OTHER EVENTS

ARIZONA ELECTRIC INDUSTRY RESTRUCTURING

     As  previously  disclosed,   in  a  filing  with  the  Arizona  Corporation
Commission (the "ACC") on October 18, 2001,  Arizona Public Service Company (the
"Company" or "APS")  requested the ACC to (a) grant APS a partial  variance from
an ACC rule that would obligate APS to acquire all of its  customers'  "standard
offer" generation requirements from the competitive market (with at least 50% of
that  coming  from a  "competitive  bidding"  process)  starting in 2003 and (b)
approve as just and  reasonable a long-term  purchase  power  agreement  ("PPA")
between  APS and  Pinnacle  West  Capital  Corporation  ("Pinnacle  West").  See
"Arizona  Electric  Industry  Restructuring"  in Item 5 of the Company's Current
Report on Form 8-K dated December 14, 2001.By letter dated January 14, 2002, the
Chairman of the ACC recommended that the ACC establish a new "generic" docket to
"determine  if changed  circumstances  require the [ACC] to take another look at
electric  restructuring  in  Arizona."  On  January  22,  2002 the  ACC's  Chief
Administrative  Law Judge ("ALJ")  issued a procedural  order by which a generic
docket was opened.  On February 8, 2002, the ALJ issued a procedural order which
consolidated the generic docket,  the Company's  request,  and other pending ACC
dockets.  Although  the order  consolidates  several  dockets,  it states that a
hearing on the APS matter will commence on April 29, 2002.  The order went on to
state that the ALJ was  construing  the  October 18, 2001 filing as a request by
the Company to amend the 1999 ACC order that approved a comprehensive Settlement
Agreement (the  "Settlement  Agreement")  among the Company and various  parties
relating to the implementation of retail electric competition.

     The Company is required to transfer its generation  assets and  competitive
services to one or more  corporate  affiliates  on or before  December 31, 2002.
Consistent with that requirement,  the Company has been addressing the legal and
regulatory  requirements  necessary to complete  the transfer of its  generation
assets to  Pinnacle  West  Energy  Corporation,  a  wholly-owned  subsidiary  of
Pinnacle West, on or before that date. In anticipation of the Company's transfer
of generation assets, Pinnacle West Energy has completed,  and is in the process
of developing and planning,  various  generation  expansion projects so that the
Company can reliably meet the energy  requirements of its Arizona  customers.  A
modification to the competition rules or the Settlement Agreement as a result of
the  consolidated  docket  could,  among  other  things,  adversely  affect  the
Company's  ability to transfer its generation  assets to Pinnacle West Energy by
December 31, 2002. The Company  cannot  predict the outcome of the  consolidated
docket or its effect on the specific  requests in the Company's October 18, 2001
filing,  the existing  Arizona  electric  competition  rules,  or the Settlement
Agreement.

                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Company  has  duly  caused  this  report  to be  signed  on  its  behalf  by the
undersigned hereunto duly authorized.


                                   ARIZONA PUBLIC SERVICE COMPANY
                                   (Registrant)



Dated: February 20, 2002           By: Barbara M. Gomez
                                       ------------------------------
                                       Barbara M. Gomez
                                       Treasurer