Mayes says latest APS request to hike rates is 'corporate greed'

Attorney General Kris Mayes says she will “vigorously oppose” a request by Arizona Public Service to increase rates on its utility customers by 14 percent in mid-2026.

Mayes, a Democrat who once served as an elected state utility regulator, said in a statement that APS’s application to the Arizona Corporation Commission is “a blatant attempt by Pinnacle West and APS executives to pad corporate profits at the expense of Arizona consumers.”

“After years of steady rate hikes, it’s unacceptable that this monopoly utility thinks it's OK to take more of Arizonans' hard-earned money,” she added.

APS last sought a rate hike in 2022, when it requested a 13.6% increase. Regulators on the Corporation Commission ultimately approved a lower rate increase, roughly 8%, last year, raising monthly residential utility bills by about $12.

APS officials estimate their latest request for a rate increase would add roughly $20 a month to the average residential customer’s utility bill.

“As Arizona’s attorney general, I have a duty to protect consumers from corporate greed,” Mayes said. “I will not stand by as APS and Pinnacle West attempt to fleece Arizonans with yet another unjustified rate hike.”

Mayes joins the ranks of consumer advocates who have long criticized APS of prioritizing shareholder profits over its customers. Pinnacle West Capital Corporation, the utility’s parent company, reported a net income of $609 million last year, up from $502 million in 2023.

In its application, APS officials said current rates – based on the utility’s operating costs from over three years ago – have not kept pace with what it costs to operate a reliable, resilient energy grid.