-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DoXSCDmM28R+DmzECfM/hw+5GSCxPjqxanx7Us0xv4XKnF2KQ0+dTHlcNUGl3hDr rK5a/cTusQ4uMQc12Dqhew== 0000950153-06-001162.txt : 20060503 0000950153-06-001162.hdr.sgml : 20060503 20060503090100 ACCESSION NUMBER: 0000950153-06-001162 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060502 ITEM INFORMATION: Other Events FILED AS OF DATE: 20060503 DATE AS OF CHANGE: 20060503 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PINNACLE WEST CAPITAL CORP CENTRAL INDEX KEY: 0000764622 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 860512431 STATE OF INCORPORATION: AZ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08962 FILM NUMBER: 06801639 BUSINESS ADDRESS: STREET 1: 400 NORTH FIFTH STREET STREET 2: . CITY: PHOENIX STATE: AZ ZIP: 85004 BUSINESS PHONE: 6023792500 MAIL ADDRESS: STREET 1: 400 NORTH FIFTH STREET STREET 2: . CITY: PHOENIX STATE: AZ ZIP: 85004 FORMER COMPANY: FORMER CONFORMED NAME: AZP GROUP INC DATE OF NAME CHANGE: 19870506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARIZONA PUBLIC SERVICE CO CENTRAL INDEX KEY: 0000007286 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 860011170 STATE OF INCORPORATION: AZ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04473 FILM NUMBER: 06801640 BUSINESS ADDRESS: STREET 1: 400 N FIFTH ST STREET 2: P O BOX 53999 CITY: PHOENIX STATE: AZ ZIP: 85004 BUSINESS PHONE: 6022501000 8-K 1 p72260e8vk.htm 8-K e8vk
 

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 2, 2006
         
         
        IRS Employer
Commission File Number   Exact Name of Registrant as Specified in Charter; State of Incorporation; Address and Telephone Number   Identification Number
1-8962
  Pinnacle West Capital Corporation   86-0512431
 
  (an Arizona corporation)    
 
  400 North Fifth Street, P.O. Box 53999    
 
  Phoenix, AZ 85072-3999    
 
  (602) 250-1000    
 
        
1-4473
  Arizona Public Service Company   86-0011170
 
  (an Arizona corporation)    
 
  400 North Fifth Street, P.O. Box 53999    
 
  Phoenix, AZ 85072-3999    
 
  (602) 250-1000    
     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
     This combined Form 8-K is separately filed by Pinnacle West Capital Corporation and Arizona Public Service Company. Each registrant is filing on its own behalf all of the information contained in this Form 8-K that relates to such registrant and, where required, its subsidiaries. Except as stated in the preceding sentence, neither registrant is filing any information that does not relate to such registrant, and therefore makes no representation as to any such information.
 
 

 

 

Item 8.01. Other Events
Emergency Interim Rate Increase Order
     On May 2, 2006, the Arizona Corporation Commission (the “ACC”) voted to approve, with certain modifications, the recommended order of the ACC administrative law judge in connection with the application by Arizona Public Service Company (“APS”) for an emergency interim rate increase of $232 million to recover APS’ under-collection of higher annual fuel and purchased power costs. See “Emergency Interim Rate Increase Recommended Order” in Item 8.01 of the Pinnacle West Capital Corporation/APS Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on April 21, 2006 (the “April 21 Form 8-K”). Among other things, the order approved by the ACC:
  •   authorizes an interim adjustor under APS’ Power Supply Adjustor (“PSA”), effective May 1, 2006, that will result in an interim retail rate increase of approximately 8.3% designed to recover approximately $138 million of fuel and purchased power costs during 2006. This interim adjustor combined with the PSA surcharge (see “ACC Approval of PSA Surcharge” below) will result in a rate increase of approximately 9.0% designed to recover approximately $149 million of fuel and purchased power costs during 2006;
 
  •   provides that amounts collected through the retail rate increase “remain subject to a prudency review at the appropriate time” and that “all unplanned Palo Verde outage costs for 2006 should undergo a prudence audit by [the ACC] Staff”;
 
  •   encourages parties to APS’ general rate case to “propose modifications to the PSA that will address on a permanent basis, the issues with timing of recovery when deferrals are large and growing”;
 
  •   affirms APS’ ability to defer fuel and purchased power costs above the prior annual cap of $776.2 million until the ACC decides the general rate case; and
 
  •   encourages APS to diversify its resources “through large scale, sustained energy efficiency programs, [using] low cost renewable energy resources as a hedge against high fossil fuel costs.”
ACC Approval of PSA Surcharge
     On April 12, 2006, the ACC issued an order approving APS’ recovery of $15.3 million of 2005 PSA deferrals through a temporary rate increase of approximately 0.7% to take effect upon the date of the ACC’s decision in the emergency interim rate proceeding discussed above. See “ACC Approval of PSA Surcharge” in the April 21 Form 8-K. As a result of the ACC’s decision described above, this temporary rate increase became effective May 2, 2006.

 

 

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  PINNACLE WEST CAPITAL CORPORATION
(Registrant)
 		  
Dated: May 3, 2006  By:   /s/ Donald E. Brandt    
    Donald E. Brandt   
    Executive Vice President and
Chief Financial Officer 		  
 
         
  ARIZONA PUBLIC SERVICE COMPANY
(Registrant)
 		  
Dated: May 3, 2006  By:   /s/ Donald E. Brandt    
    Donald E. Brandt   
    Executive Vice President and
Chief Financial Officer 		  
 

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