Form 10-Q · Quarterly report
Pinnacle West Capital 10-Q, filed Aug 4, 2026
- Filed
- CIK
- 0000764622
- Accession no.
- 0000764622-26-000041
Summary
Pinnacle West Capital's utility subsidiary Arizona Public Service plans to convert two units at its Cholla plant to natural gas, adding roughly 380 MW with construction contemplated to begin in 2028 and a targeted in-service date in 2029, and to add up to 2,000 MW of flexible natural gas generation; it also announced in March 2026 its intention to renew the operating licenses for all three Palo Verde nuclear units, which would extend operations from the mid-2040s into the mid-2060s.
Key points
- APS executed a natural gas transportation precedent agreement in July 2025 to secure long-term supply, with the third-party-owned pipeline expected to be operational by late 2029.
- APS was selected by the Department of Energy's Grid Deployment Office to receive up to $70 million for fire mitigation and grid infrastructure projects under the Grid Resilience and Innovation Partnership Program, contingent on final grant agreements.
- APS's Comprehensive Wildfire Mitigation Plan was approved by the Arizona Department of Forestry and Fire Management on May 7, 2026, under a 2025 Arizona law requiring utilities to develop such plans.
- APS owns or leases 29.1% of Palo Verde Units 1, 2 and 3 and closed its purchase of two leased interests in Unit 2 (about 94 MW) in September 2025.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2. MANAGEMENT’S DISCUSSION OVERVIEW Business Overview Pinnacle West is an investor-owned electric utility holding company based in Phoenix, Arizona with consolidated assets of approximately $33 billion. We derive essentially all of our revenues and earnings from our principal subsidiary, APS. Since 1886, APS and its affiliates have provided energy and energy-related products to people and businesses throughout Arizona. APS is Arizona’s largest and longest-serving electric company and generates safe, affordable and reliable electricity for approximately 1.5 million retail customers in 11 of Arizona’s 15 counties. …
An excerpt of the text as filed with the SEC, cut for length.
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