APS 2013 Annual Report Download - page 6
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Table of Contents
PART I
ITEM 1. BUSINESS
Pinnacle West
Pinnacle West is a holding company that conducts business through its subsidiaries. We derive essentially all of our revenues and earnings from our
wholly-owned subsidiary, APS. APS is a vertically-integrated electric utility that provides either retail or wholesale electric service to most of the State of
Arizona, with the major exceptions of about one-half of the Phoenix metropolitan area, the Tucson metropolitan area and Mohave County in northwestern
Arizona.
Pinnacle West’s other operating subsidiary is El Dorado. Additional information related to this business is provided later in this report.
Our reportable business segment is our regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses
(primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution.
BUSINESS OF ARIZONA PUBLIC SERVICE COMPANY
APS currently provides electric service to approximately 1.2 million customers. We own or lease 6,394 MW of regulated generation capacity and we
hold a mix of both long-term and short-term purchased power agreements for additional capacity, including a variety of agreements for the purchase of
renewable energy. During 2013, no single purchaser or user of energy accounted for more than 1.1% of our electric revenues.
3