-----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, PQsdnS1kufNxZtd5RbT1453HOhm34pvyasFQYj+mqUbS0IxwUZ8gUI2sfBe1EZvn 6JI+vZ5X4Eik16hTA5eCJw== 0000950147-98-001022.txt : 19981214 0000950147-98-001022.hdr.sgml : 19981214 ACCESSION NUMBER: 0000950147-98-001022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19981209 ITEM INFORMATION: FILED AS OF DATE: 19981211 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: SEC FILE NUMBER: 001-04473 FILM NUMBER: 98767869 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 CURRENT REPORT 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 9, 1998 ---------------- 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 85004 -------------------------------------------------------- ----- (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 As previously reported, the proposed settlement agreement between Arizona Public Service Company (the "Company") and the Staff of the Arizona Corporation Commission (the "ACC") has expired by its terms. See Item 5 of the Company's Current Report on Form 8-K dated December 1, 1998. On December 9, 1998, the ACC Staff filed a Notice of Withdrawal of Settlements providing that the proposed settlement agreement has by its terms expired and is deemed withdrawn from consideration by the ACC. The withdrawal does not preclude the parties from continuing attempts to resolve the issues addressed by the agreement and presenting any new settlement to the ACC for consideration. The notice also provides that the procedural order for ACC consideration of the agreement is no longer in effect. The Arizona Supreme Court had scheduled oral argument on January 14, 1999, to consider whether the procedural order gave sufficient notice to interested parties of the ACC hearings on the settlement agreement. The Company cannot currently predict how the Court will proceed in this matter. In connection with the settlement agreement, the Company and Tucson Electric Power Company entered into a memorandum of understanding ("MOU") for the exchange of certain assets. See "State-Proposed Settlement Agreement" in Note 5 of Notes to Condensed Financial Statements in the Company's Quarterly Report on Form 10-Q for the Fiscal Quarter ended September 30, 1998 (the "September 10-Q"). Pursuant to the terms of the MOU, if there is no ACC order approving a settlement agreement by December 15, 1998, or an agreement between the parties to extend this deadline, the MOU will expire. On December 10, 1998, the ACC adopted, without modifications which would have a significant impact on the Company, the amended rules regarding the introduction of retail electric competition which became effective on an emergency basis in August 1998. See "State-ACC Rules" in Note 5 of Notes to Condensed Financial Statements in the September 10-Q. However, due to the Supreme Court stay, the Notice of Withdrawal and other unresolved issues, the amended rules cannot be practically implemented. In April 1998, the Company and Salt River Project Agricultural Improvement and Power District ("Salt River Project") entered into a memorandum of agreement in anticipation of, and to facilitate, the opening of the Arizona electric industry. See Note 7 of Notes to Condensed Financial Statements in the September 10-Q. Certain provisions of the agreement may be affected by the timing of the introduction of competition. 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: December 11, 1998 By: Michael V. Palmeri ----------------------------------- Michael V. Palmeri Treasurer -----END PRIVACY-ENHANCED MESSAGE-----