APS 2011 Annual Report Download - page 4
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PINNACLE WEST CAPITAL CORPORATION
Arizona Public Service celebrated its 125th year of business in 2011 by rewriting the record books.
The company achieved new bests for reliable service, customer satisfaction, power generation and
employee safety. These achievements and others marked an outstanding year for APS, the principal
operating subsidiary of Pinnacle West Capital Corporation.
Our strategy to translate this performance into long-term value for our shareholders is simple and powerful.
This proven strategy begins with the ground beneath our feet. The potential for sustained, long-term
economic growth in our Arizona service area is among the best in the nation. To maximize this potential,
we must get the basics right: Provide safe, reliable electricity and excellent customer service. Prepare for
the future with wise energy-related investments. Promote a collaborative eort with public ocials and
our diverse stakeholders to create a sound regulatory climate and smart energy policy. Practice nancial
discipline at all times.
If we do these things well, our business will grow along with Arizona.
Success requires us to deliver on these fundamentals. As our performance in 2011 demonstrated again,
APS employees do that extremely well. Let me oer a few highlights.
PROVIDE RELIABLE ELECTRICITY AND EXCELLENT SERVICE
During a year that included the hottest monsoon season on record, APS provided 1.1 million Arizona customers
with power reliability among the best in the industry. We averaged 0.79 power outages per customer, 29 percent
better than the national median. When outages did occur, we restored power quickly. The typical APS customer
experienced 69 minutes of interrupted service over the course of the year, 40 percent better than the median.
APS set new records in both of these critical performance measurements. It is not a coincidence that APS earned
its highest-ever score in the J.D. Power and Associates survey of customer satisfaction with electric utilities.
APS ranked fourth in the nation among large investor-owned electric utilities.
DEAR FELLOW SHAREHOLDERS
2 / LETTER TO SHAREHOLDERS