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El Dorado Equity Investments (Tables)
 9 Months Ended
Sep. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of El Dorado's Ownership Percentages and Carrying Value of Equity Method Investments The following table presents El Dorado’s ownership percentages and carrying value of investments accounted for under the equity method (dollars in millions):
Investee
Pinnacle West Ownership Percentage as of September 30, 2025
September 30, 2025December 31, 2024
SAI (a)17 %$17 $— 
AZ-VC (b)23 %14 11 
Total equity method investments$31 $11 

(a)El Dorado has no further funding commitments to SAI.
(b)El Dorado has a $25.0 million funding commitment to AZ-VC, of which approximately $14.3 million has been funded as of September 30, 2025.