Letter from the CEO & CSO

Pinnacle West is committed to the principles of sustainability—balancing the needs of a healthy environment, a vibrant economy and strong communities in every decision we make.

We act on our vision of a sustainable energy future for Arizona when we pair solar plants and battery storage to deliver clean solar energy to customers after the sun sets. We efficiently operate Palo Verde Generating Station, the nation’s largest source of clean energy. As stewards of our community, we engage on critical issues of water security and wildfire mitigation. Our customer technology group is exploring adding electric car charging stations at workplaces and along our desert highways. We are committed to developing the next generation of energy workers and helping our customers choose the right service plan for them.

At Pinnacle West, sustainability comes from the top down and the bottom up. Our board of directors provides sustainability oversight through the Nuclear & Operating Committee while our grassroots group Employees for a Sustainable Future implements sustainable practices on the front line. From the boardroom to the bucket truck, sustainability is a result of the collective actions of all our employees. Sustainability rating organizations Morgan Stanley Capital International (MSCI) and Sustainalytics recognize our work with top quartile Environment, Social & Governance (ESG) scores in the electric utility sector. 

Highlights from 2018 include:

  • Reduced total groundwater consumption 13.4 percent below 2014 baseline, compared to a 12 percent reduction goal
  • Completed installation of selective catalytic reduction technology at Four Corners, resulting in an 88 percent reduction in nitrogen oxide emissions from the plant
  • Ranked Phoenix area’s largest corporate philanthropist by the Phoenix Business Journal
  • Produced a 92.7 percent five-year total shareholder return, outperforming the electric utility industry and broad market
  • Honored with the Torch of Liberty award by the Arizona Anti-Defamation League for our support of diversity and inclusion

Arizona is growing, and we’re ready to serve that growing customer base with clean, affordable and reliable energy. We invite you to learn more about how we’re creating this sustainable energy future by reviewing our online Corporate Responsibility Report at PinnacleWest.com.

Donald E. Brandt

Donald E. Brandt
Chairman, President and Chief Executive Officer
Pinnacle West Capital Corporation

Patrick Dinkel

Patrick Dinkel
Vice President, Environmental and Chief Sustainability Officer
Arizona Public Service Company

Financial Performance

Reporting for our quarterly and annual financial results, including quarterly presentations, news releases and webcast recordings, is available on the Earnings page.

Report Methodology

This report focuses on APS, our primary subsidiary. It was prepared using guidance from the Global Reporting Initiatives (GRI) Standards and the GRI guidelines for G4 and Electric Utilities Sector Supplement. Our greenhouse gas (GHG) emission inventory and water withdrawal and discharge data for our CDP submission was third-party verified to a reasonable level of assurance by Cameron Cole. All other information in this report is reviewed and verified internally.

Forward-Looking Statements

This report contains forward-looking statements based on current expectations. These forward-looking statements are often identified by words such as “estimate,” “predict,” “may,” “believe,” “plan,” “expect,” “require,” “intend,” “assume” and similar words. Because actual results may differ materially from expectations, we caution you not to place undue reliance on these statements. A number of factors could cause future results to differ materially from historical results, or from outcomes currently expected or sought by us. A discussion of some of these risks and uncertainties is contained in our annual report on Form 10-K and is available on our website at pinnaclewest.com, which you should review carefully before placing any reliance on our forward-looking statements, financial statements or disclosures. We assume no obligation to update any forward-looking statements, even if our internal estimates change, except as may be required by applicable law.

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