Exhibit 99.30

ARIZONA PUBLIC SERVICE COMPANY
NON-GAAP FINANCIAL MEASURE RECONCILIATION — OPERATING INCOME
(GAAP MEASURE) TO GROSS MARGIN (NON-GAAP FINANCIAL MEASURE)
(in thousands)

	TWELVE MONTHS ENDED
	DECEMBER 31,				Increase (Decrease)
	2005		2004		Pretax			After Tax
RECONCILIATION OF GROSS MARGIN
Operating Income (closest GAAP measure)	$	381,613	$	328,981	$	52,632		$	32,079
Plus:
Operations and maintenance		591,941		540,277		51,664			31,489
Depreciation and amortization		325,174		336,648		(11,474	)		(6,993	)
Income taxes		157,273		113,696		43,577			26,560
Other taxes		125,810		114,265		11,545			7,037
Gross margin	$	1,581,811	$	1,433,867	$	147,944		$	90,172

	TWELVE MONTHS ENDED
	DECEMBER 31,				Increase (Decrease)
	2004		2003		Pretax			After Tax
RECONCILIATION OF GROSS MARGIN
Operating Income (closest GAAP measure)	$	328,981	$	298,158	$	30,823		$	18,787
Plus:
Operations and maintenance		540,277		513,604		26,673			16,257
Depreciation and amortization		336,648		389,240		(52,592	)		(32,055	)
Income taxes		113,696		91,646		22,050			13,439
Other taxes		114,265		108,852		5,413			3,299
Gross margin	$	1,433,867	$	1,401,500	$	32,367		$	19,727