In August, Arizona Public Service saw two peak energy demand records. That contributed to stronger third quarter earnings for the utility’s parent company.
It’s hard to say that earnings in the last three months wouldn’t have outpaced the same time last year without those record demand days. But overall, earnings are 2.5% lower so far this year than the same time frame of 2024.
Pinnacle West Capital Corp reported higher revenue this year, but higher interest expenses partially contributed to the lower net income.
Looking ahead, Pinnacle West continues to expect large industrial users like data centers and TSMC will make up 70%-80% of retail electricity sales growth next year.
The company’s CEO said natural gas is going to play a major role in fulfilling that demand from large users. APS announced a new gas plant last week.
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The states with Democratic AGs argue that federal agencies are side-stepping important environmental laws to carry out the executive order. -
The bill, approved by the House Natural Resources, Energy and Water Committee, would prevent county supervisors from being able to regulate small modular reactors in rural Arizona, if they have met federal guidelines. -
The funds come as utility rates have increased more than inflation -
Arizona’s largest power company, Arizona Public Service, is losing out on $1.8 billion from the federal government. The money would have been used for clean energy projects. -
Arizona Public Service’s proposed rate hike faced criticism this week, as the state utility regulator held a public hearing. Residents told the Arizona Corporation Commission that the proposed rates are not affordable.
