Arizona Public Service 8-K Results of Operations and Financial Condition

Exhibit 99.1

Last Updated 8/4/2009

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary
Periods Ended June 30, 2009 and 2008

		3 Months Ended June									6 Months Ended June
Line		2009			2008			Incr (Decr)			2009			2008			Incr (Decr)
	EARNINGS CONTRIBUTION BY SUBSIDIARY ($ Millions)
1	Arizona Public Service	$	78		$	125		$	(47	)	$	63		$	119		$	(56	)
2	APS Energy Services		—			—			—			(1	)		—			(1	)
3	SunCor		(14	)		(6	)		(8	)		(238	)		(10	)		(228	)
4	El Dorado		—			(5	)		5			(6	)		(6	)		—
5	Parent Company		7			(1	)		8			85			3			82
6	Income (Loss) From Continuing Operations		71			113			(42	)		(97	)		106			(203	)
	Income (Loss) From Discontinued Operations — Net of Tax
7	SunCor		(5	)		21			(26	)		(9	)		23			(32	)
8	Other		2			—			2			4			—			4
9	Total		(3	)		21			(24	)		(5	)		23			(28	)
10	Net Income (Loss)		68			134			(66	)		(102	)		129			(231	)
11	Less: Net Income (Loss) Attributable to Noncontrolling Interests		—			—			—			(14	)		—			(14	)
12	Net Income (Loss) Attributable to Common Shareholders	$	68		$	134		$	(66	)	$	(88	)	$	129		$	(217	)
	EARNINGS PER SHARE BY SUBSIDIARY — DILUTED
13	Arizona Public Service	$	0.78		$	1.24		$	(0.46	)	$	0.62		$	1.18		$	(0.56	)
14	APS Energy Services		—			—			—			(0.01	)		0.01			(0.02	)
15	SunCor		(0.14	)		(0.06	)		(0.08	)		(2.35	)		(0.09	)		(2.26	)
16	El Dorado		(0.01	)		(0.05	)		0.04			(0.06	)		(0.07	)		0.01
17	Parent Company		0.07			(0.01	)		0.08			0.84			0.03			0.81
18	Income (Loss) From Continuing Operations		0.70			1.12			(0.42	)		(0.96	)		1.06			(2.02	)
	Income (Loss) From Discontinued Operations — Net of Tax
19	SunCor		(0.04	)		0.21			(0.25	)		(0.09	)		0.23			(0.32	)
20	Other		0.02			—			0.02			0.04			(0.01	)		0.05
21	Total		(0.02	)		0.21			(0.23	)		(0.05	)		0.22			(0.27	)
22	Net Income (Loss)		0.68			1.33			(0.65	)		(1.01	)		1.28			(2.29	)
23	Less: Net Income (Loss) Attributable to Noncontrolling Interests		—			—			—			(0.14	)		—			(0.14	)
24	Net Income (Loss) Attributable to Common Shareholders	$	0.68		$	1.33		$	(0.65	)	$	(0.87	)	$	1.28		$	(2.15	)
25	BOOK VALUE PER SHARE	$	31.70		$	37.22		$	(5.52	)	$	31.70		$	37.22		$	(5.52	)
	COMMON SHARES OUTSTANDING (Thousands)
26	Average — Diluted		101,193			100,917			276			101,048			100,856			192
27	End of Period		101,171			100,706			465			101,171			100,706			465

See Glossary of Terms. Page 1 of 4

Last Updated 8/4/2009

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary
Periods Ended June 30, 2009 and 2008

		3 Months Ended June									6 Months Ended June
Line		2009			2008			Incr (Decr)			2009			2008			Incr (Decr)
	ELECTRIC OPERATING REVENUES (Dollars in Millions)
	REGULATED ELECTRICITY SEGMENT
	Retail
28	Residential	$	377		$	365		$	12		$	633		$	636		$	(3	)
29	Business		389			396			(7	)		687			696			(9	)
30	Total retail		766			761			5			1,320			1,332			(12	)
	Wholesale revenue on delivered electricity
31	Traditional contracts		17			22			(5	)		28			34			(6	)
32	Off-system sales		12			30			(18	)		34			54			(20	)
33	Transmission for others		8			8			—			15			15			—
34	Other miscellaneous services		9			8			1			18			17			1
35	Total regulated operating electricity revenues		812			829			(17	)		1,415			1,452			(37	)
	MARKETING AND TRADING
36	Electricity and other commodity sales		—			23			(23	)		—			53			(53	)
37	Total operating electric revenues	$	812		$	852		$	(40	)	$	1,415		$	1,505		$	(90	)
	ELECTRIC SALES (GWH)
	REGULATED ELECTRICITY SEGMENT
	Retail sales
38	Residential		3,180			3,112			68			5,679			5,886			(207	)
39	Business		3,842			3,990			(148	)		7,102			7,328			(226	)
40	Total retail		7,022			7,102			(80	)		12,781			13,214			(433	)
	Wholesale electricity delivered
41	Traditional contracts		232			319			(87	)		397			541			(144	)
42	Off-system sales		720			610			110			1,417			1,026			391
43	Retail load hedge management		225			159			66			377			321			56
44	Total regulated electricity		8,199			8,190			9			14,972			15,102			(130	)
	MARKETING AND TRADING
45	Wholesale sales of electricity		—			979			(979	)		—			1,890			(1,890	)
46	Total electric sales		8,199			9,169			(970	)		14,972			16,992			(2,020	)
	POWER SUPPLY ADJUSTOR (“PSA”) — REGULATED ELECTRICITY SEGMENT (Dollars in Millions)
47	Deferred fuel and purchased power regulatory asset — beginning balance	$	(49	)	$	50		$	(99	)	$	8		$	111		$	(103	)
48	Deferred fuel and purchased power costs — current period		15			37			(22	)		(13	)		26			(39	)
49	Interest on deferred fuel		—			—			—			—			1			(1	)
50	Amounts recovered through revenues		(37	)		(64	)		27			(66	)		(115	)		49
51	Deferred fuel and purchased power regulatory asset — ending balance	$	(71	)	$	23		$	(94	)	$	(71	)	$	23		$	(94	)

See Glossary of Terms. Page 2 of 4

Last Updated 8/4/2009

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary
Periods Ended June 30, 2009 and 2008

		3 Months Ended June									6 Months Ended June
Line		2009			2008			Incr (Decr)			2009			2008			Incr (Decr)
	AVERAGE ELECTRIC CUSTOMERS
	Retail customers
52	Residential		981,749			975,594			6,155			985,212			979,026			6,186
53	Business		125,245			123,802			1,443			125,178			123,318			1,860
54	Total		1,106,994			1,099,396			7,598			1,110,390			1,102,344			8,046
55	Wholesale customers		44			54			(10	)		47			52			(5	)
56	Total customers		1,107,038			1,099,450			7,588			1,110,437			1,102,396			8,041
57	Customer growth (% over prior year)		0.7	%		1.6	%		(0.9	)%		0.7	%		1.8	%		(1.1	)%
	RETAIL SALES (GWH) — WEATHER NORMALIZED
58	Residential		3,199			3,247			(48	)		5,808			5,941			(133	)
59	Business		3,818			4,034			(216	)		7,104			7,334			(230	)
60	Total		7,017			7,281			(264	)		12,912			13,275			(363	)
	RETAIL USAGE (KWh/Average Customer)
61	Residential		3,239			3,190			49			5,764			6,012			(248	)
62	Business		30,678			32,229			(1,551	)		56,738			59,424			(2,686	)
	RETAIL USAGE — WEATHER NORMALIZED (KWh/Average Customer)
63	Residential		3,259			3,328			(69	)		5,895			6,068			(173	)
64	Business		30,484			32,581			(2,097	)		56,753			59,469			(2,716	)
	ELECTRICITY DEMAND (MW)
65	Native load peak demand		6,452			6,771			(319	)		6,452			6,771			(319	)
	WEATHER INDICATORS
	Actual
66	Cooling degree-days		1,583			1,540			43			1,687			1,645			42
67	Heating degree-days		24			—			24			407			583			(176	)
68	Average humidity		20	%		17	%		3	%		28	%		29	%		(1	)%
	10-Year Averages
69	Cooling degree-days		1,550			1,554			(4	)		1,621			1,650			(29	)
70	Heating degree-days		25			28			(3	)		596			545			51
71	Average humidity		22	%		22	%		0	%		31	%		32	%		(1	)%

See Glossary of Terms. Page 3 of 4

Last Updated 8/4/2009

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary
Periods Ended June 30, 2009 and 2008

		3 Months Ended June									6 Months Ended June
Line		2009			2008			Incr (Decr)			2009			2008			Incr (Decr)
	ENERGY SOURCES (GWH)
	Generation production
72	Nuclear		2,014			1,856			158			4,506			4,171			335
73	Coal		2,857			3,227			(370	)		5,807			6,133			(326	)
74	Gas, oil and other		1,283			1,516			(233	)		2,306			2,664			(358	)
75	Total generation production		6,154			6,599			(445	)		12,619			12,968			(349	)
	Purchased power
76	Firm load		1,890			1,603			287			2,398			2,343			55
77	Marketing and trading		726			1,506			(780	)		986			2,702			(1,716	)
78	Total purchased power		2,616			3,109			(493	)		3,384			5,045			(1,661	)
79	Total energy sources		8,770			9,708			(938	)		16,003			18,013			(2,010	)
	POWER PLANT PERFORMANCE
	Capacity Factors
80	Nuclear		81	%		74	%		7	%		91	%		83	%		8	%
81	Coal		75	%		85	%		(10	)%		77	%		81	%		(4	)%
82	Gas, oil and other		17	%		21	%		(4	)%		16	%		18	%		(2	)%
83	System average		45	%		49	%		(4	)%		46	%		48	%		(2	)%
	ECONOMIC INDICATORS
	Building Permits — Metro Phoenix (a)
84	Single-family		1,978			3,732			(1,754	)		2,815			6,723			(3,908	)
85	Multi-family		364			2,263			(1,899	)		903			4,151			(3,248	)
86	Total		2,342			5,995			(3,653	)		3,718			10,874			(7,156	)
	Arizona Job Growth (b)
87	Payroll job growth (% over prior year)		(7.1	)%		(1.3	)%		(5.8	)%		(6.8	)%		(0.7	)%		(6.1	)%
88	Unemployment rate (%, seasonally adjusted)		8.2	%		5.2	%		3.0	%		7.8	%		4.9	%		2.9	%

Sources:
(a)	Arizona Real Estate Center, Arizona State University W.P. Carey College of Business
(b)	Arizona Department of Economic Security

See Glossary of Terms. Page 4 of 4