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Pinnacle West Capital Corporation



Pinnacle West Capital Corporation owns all of the outstanding common stock of Arizona Public Service Company, its major subsidiary. APS is a vertically integrated electric utility that provides either retail or wholesale electric service to the state of Arizona, with the exceptions of about one-half of the Phoenix metropolitan area, the Tucson metropolitan area and Mohave County in northwestern Arizona. Other direct subsidiaries of the Company are Pinnacle West Energy Corporation. It owns and operates unregulated generating plants; SunCor Development Company, a real estate development company; APS Energy Services Inc., which provides commodity-related energy services, and energy-related products and services to commercial and industrial retail customers in the western United States, as well as El Dorado Investment Company, the company's investment subsidiary.


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