While other Western utilities were raising customer prices, APS lowered retail rates for the seventh time since 1993. During that time, we’ve reduced electric prices by 13 percent and saved our customers more than $800 million – the largest cumulative rate decrease among all investor-owned electric companies in the nation. 

    Such price reductions are possible, in part, through the efficient performance of our power plants. Last year, the Palo Verde Nuclear Generating Station was the nation’s number one power producer for the 10th consecutive year – generating nearly 29 billion kilowatt-hours of electricity at a cost of 1.30 cents per kilowatt-hour – 30 percent below the estimated industry average of 1.86 cents per kilowatt-hour. 

    In 2001, our Cholla, West Phoenix, Ocotillo and Saguaro fossil-fueled plants each set records for total site generation – increasing production by a combined 7.2 percent. 

    This focus on performance resonates throughout all parts of our company and is reflected in our recent customer satisfaction scores. In a 2001 survey, 85 percent of APS residential customers rated themselves as satisfied or very satisfied with their service from APS. In the same survey, 94 percent rated the reliability of our electricity as good, very good or excellent. 

    These numbers reflect our ongoing efforts to take care of our customers. For example:

    The Better Business Bureau of Central and Northern Arizona recently presented us with its Business Ethics Award. We’re proud of this honor. It underscores our philosophy that areas such as financial integrity, business practices, safety, community involvement and environmental stewardship are not afterthoughts – they’re key ingredients in delivering value and defining who we are.