Pinnacle West Capital Corporation is a publicly traded energy holding company based in Phoenix, Arizona, USA. It is the parent company of Arizona Public Service (APS), one of the largest electric utilities in the state of Arizona. Pinnacle West was founded in 1985 and has since become a significant player in the energy sector. They are listed on the New York Stock Exchange (NYSE) under the ticker symbol "PNW."
The company's history dates back to the late 19th century when Arizona's electric utility industry was in its infancy. Over the years, various electric companies were established, merged, and reorganized until Pinnacle West was formed to oversee the operations of APS and its subsidiaries.
Pinnacle West's primary business is to generate and deliver electricity through APS to more than 1.3 million customers in various parts of Arizona. The company's power generation facilities primarily rely on a mix of sources, including coal, nuclear, and natural gas, as well as an increasing focus on renewable energy, such as solar and wind.
One of Pinnacle West's projects is the Palo Verde Nuclear Generating Station, located in Arizona. Palo Verde is one of the largest nuclear power plants in the United States and is jointly owned by several utilities, with APS being the majority owner. The plant plays a crucial role in providing clean and reliable electricity to customers in the region.