Each day your company is laying the building blocks of resilience – in our finances, our operations and our workforce.

In 2022, we faced headwinds at our major subsidiary, Arizona Public Service Company (APS), resulting from the unfavorable rate case decision implemented in December 2021. In response, we committed to minimize shareholder impact during this financial reset by deferring equity issuances, managing costs and capital allocation, and sustaining dividend growth.

At the same time, our employees delivered strong service reliability to our customers and made extraordinary improvement in overall customer satisfaction, as reported by J.D. Power.