Form 10-Q · Quarterly report
Pinnacle West Capital 10-Q, filed Nov 3, 2026
- Filed
- CIK
- 0000764622
- Accession no.
- 0000764622-26-000050
Summary
Arizona Public Service, a subsidiary of Pinnacle West Capital, is planning to add natural gas capacity, including converting two Cholla units and adding up to 2,000 MW of flexible gas generation, while intending to renew all three Palo Verde nuclear units' operating licenses. APS was also selected for up to $70 million in DOE grid resilience funding and had its Comprehensive Wildfire Mitigation Plan approved.
Key points
- APS said existing natural gas pipelines into Arizona are fully committed, so it executed a gas transportation precedent agreement in July 2025 for a new third-party-owned pipeline expected to be operational by late 2029.
- In July 2026, APS announced plans to convert two units at Cholla to natural gas, adding about 380 MW, with construction beginning in 2028 and a targeted in-service date in 2029; it also plans to add up to 2,000 MW of flexible natural gas generation.
- In March 2026, APS announced its intention to renew operating licenses for all three Palo Verde units, which would extend operations from the mid-2040s through the mid-2060s.
- APS was selected by DOE's Grid Deployment Office for up to $70 million under the Grid Resilience and Innovation Partnership Program, with grant agreements effective Sept. 30, 2026, and its Comprehensive Wildfire Mitigation Plan was approved on May 7, 2026.
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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