Arizona Public Service 8-K Pinnacle West Reports 2009 Fourth-quarter and Full-year Results

Exhibit 99.2

Last Updated 2/19/2010

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary
Periods Ended December 31, 2009 and 2008

		3 Months Ended December									12 Months Ended December
Line		2009			2008			Incr (Decr)			2009			2008			Incr (Decr)
	EARNINGS CONTRIBUTION BY SUBSIDIARY ($ Millions)
1	Arizona Public Service	$	(9	)	$	(16	)	$	7		$	251		$	262		$	(11	)
2	APS Energy Services		(1	)		1			(2	)		(2	)		2			(4	)
3	SunCor		(24	)		(15	)		(9	)		(272	)		(31	)		(241	)
4	El Dorado		(1	)		(2	)		1			(7	)		(10	)		3
5	Parent Company		6			5			1			97			8			89
6	Income From Continuing Operations		(29	)		(27	)		(2	)		67			231			(164	)
	Income (Loss) From Discontinued Operations — Net of Tax
7	SunCor		(2	)		(19	)		17			(23	)		5			(28	)
8	Other		1			7			(6	)		9			6			3
9	Total		(1	)		(12	)		11			(14	)		11			(25	)
10	Net Income		(30	)		(39	)		9			53			242			(189	)
11	Less: Net Income (Loss) Attributable to Noncontrolling Interests		—			—			—			(15	)		—			(15	)
12	Net Income Attributable to Common Shareholders	$	(30	)	$	(39	)	$	9		$	68		$	242		$	(174	)
	EARNINGS PER SHARE BY SUBSIDIARY — DILUTED
13	Arizona Public Service	$	(0.09	)	$	(0.16	)	$	0.07		$	2.48		$	2.61		$	(0.13	)
14	APS Energy Services		(0.01	)		0.02			(0.03	)		(0.02	)		0.02			(0.04	)
15	SunCor		(0.24	)		(0.15	)		(0.09	)		(2.68	)		(0.31	)		(2.37	)
16	El Dorado		(0.01	)		(0.02	)		0.01			(0.07	)		(0.10	)		0.03
17	Parent Company		0.06			0.04			0.02			0.95			0.07			0.88
18	Income From Continuing Operations		(0.29	)		(0.27	)		(0.02	)		0.66			2.29			(1.63	)
	Income (Loss) From Discontinued Operations — Net of Tax
19	SunCor		(0.02	)		(0.19	)		0.17			(0.23	)		0.05			(0.28	)
20	Other		0.01			0.07			(0.06	)		0.09			0.06			0.03
21	Total		(0.01	)		(0.12	)		0.11			(0.14	)		0.11			(0.25	)
22	Net Income		(0.30	)		(0.39	)		0.09			0.52			2.40			(1.88	)
23	Less: Net Income (Loss) Attributable to Noncontrolling Interests		—			—			—			(0.15	)		—			(0.15	)
24	Net Income Attributable to Common Shareholders	$	(0.30	)	$	(0.39	)	$	0.09		$	0.67		$	2.40		$	(1.73	)
25	BOOK VALUE PER SHARE	$	32.69		$	34.16		$	(1.47	)	$	32.69		$	34.16		$	(1.47	)
	COMMON SHARES OUTSTANDING (Thousands)
26	Average — Diluted		101,320			100,836			484			101,264			100,965			299
27	End of Period		101,435			100,889			546			101,435			100,889			546

See Glossary of Terms.

Page 1 of 4

Last Updated 2/19/2010

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary
Periods Ended December 31, 2009 and 2008

		3 Months Ended December									12 Months Ended December
Line		2009			2008			Incr (Decr)			2009			2008			Incr (Decr)
	ELECTRIC OPERATING REVENUES (Dollars in Millions)
	REGULATED ELECTRICITY SEGMENT
	Retail
28	Residential	$	275		$	263		$	12		$	1,496		$	1,454		$	42
29	Business		334			321			13			1,467			1,444			23
30	Total retail		609			584			25			2,963			2,898			65
	Wholesale revenue on delivered electricity
31	Traditional contracts		10			13			(3	)		59			70			(11	)
32	Off-system sales		16			20			(4	)		58			88			(30	)
33	Transmission for others		8			9			(1	)		33			34			(1	)
34	Other miscellaneous services		7			9			(2	)		36			37			(1	)
35	Total regulated operating electricity revenues		650			635			15			3,149			3,127			22
	MARKETING AND TRADING
36	Electricity and other commodity sales		—			9			(9	)		—			67			(67	)
37	Total operating electric revenues	$	650		$	644		$	6		$	3,149		$	3,194		$	(45	)
	ELECTRIC SALES (GWH)
	REGULATED ELECTRICITY SEGMENT
	Retail sales
38	Residential		2,587			2,606			(19	)		13,214			13,368			(154	)
39	Business		3,484			3,650			(166	)		14,959			15,425			(466	)
40	Total retail		6,071			6,256			(185	)		28,173			28,793			(620	)
	Wholesale electricity delivered
41	Traditional contracts		137			198			(61	)		829			1,074			(245	)
42	Off-system sales		437			457			(20	)		2,228			2,008			220
43	Retail load hedge management		137			267			(130	)		1,055			1,074			(19	)
44	Total regulated electricity		6,782			7,178			(396	)		32,285			32,949			(664	)
	MARKETING AND TRADING
45	Wholesale sales of electricity		—			245			(245	)		—			2,434			(2,434	)
46	Total electric sales		6,782			7,423			(641	)		32,285			35,383			(3,098	)
	POWER SUPPLY ADJUSTOR (“PSA”) — REGULATED ELECTRICITY SEGMENT (Dollars in Millions)
47	Deferred fuel and purchased power regulatory asset — beginning balance	$	(60	)	$	58		$	(118	)	$	8		$	111		$	(103	)
48	Deferred fuel and purchased power costs — current period		5			(25	)		30			52			78			(26	)
49	Interest on deferred fuel		—			—			—			—			2			(2	)
50	Amounts recovered through revenues		(32	)		(25	)		(7	)		(147	)		(183	)		36
51	Deferred fuel and purchased power regulatory asset — ending balance	$	(87	)	$	8		$	(95	)	$	(87	)	$	8		$	(95	)

See Glossary of Terms.

Page 2 of 4

Last Updated 2/19/2010

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary
Periods Ended December 31, 2009 and 2008

		3 Months Ended December									12 Months Ended December
Line		2009			2008			Incr (Decr)			2009			2008			Incr (Decr)
	AVERAGE ELECTRIC CUSTOMERS
	Retail customers
52	Residential		985,077			980,268			4,809			983,539			977,944			5,595
53	Business		125,320			124,878			442			125,242			123,961			1,281
54	Total		1,110,397			1,105,146			5,251			1,108,781			1,101,905			6,876
55	Wholesale customers		51			49			2			48			51			(3	)
56	Total customers		1,110,448			1,105,195			5,253			1,108,829			1,101,956			6,873
57	Customer growth (% over prior year)		0.5	%		1.0	%		(0.5	)%		0.6	%		1.4	%		(0.8	)%
	RETAIL SALES (GWH) — WEATHER NORMALIZED
58	Residential		2,504			2,666			(162	)		13,254			13,500			(246	)
59	Business		3,509			3,652			(143	)		14,982			15,434			(452	)
60	Total		6,103			6,318			(305	)		28,236			28,934			(698	)
	RETAIL USAGE (KWh/Average Customer)
61	Residential		2,627			3,658			(1,031	)		13,435			13,669			(234	)
62	Business		27,798			29,222			(1,424	)		119,441			124,435			(4,994	)
	RETAIL USAGE — WEATHER NORMALIZED (KWh/Average Customer)
63	Residential		2,633			2,720			(87	)		13,476			13,804			(328	)
64	Business		27,999			29,246			(1,247	)		119,623			124,506			(4,883	)
	ELECTRICITY DEMAND (MW)
65	Native load peak demand		4,873			5,443			(570	)		7,218			7,026			192
	WEATHER INDICATORS
	Actual
66	Cooling degree-days		438			504			(66	)		4,846			4,682			164
67	Heating degree-days		399			321			78			806			904			(98	)
68	Average humidity		31	%		36	%		(5	)%		28	%		32	%		(4	)%
	10-Year Averages
69	Cooling degree-days		469			441			28			4,676			4,635			41
70	Heating degree-days		367			394			(27	)		963			939			24
71	Average humidity		41	%		38	%		3	%		34	%		33	%		1	%

See Glossary of Terms.

Page 3 of 4

Last Updated 2/19/2010

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary
Periods Ended December 31, 2009 and 2008

		3 Months Ended December									12 Months Ended December
Line		2009			2008			Incr (Decr)			2009			2008			Incr (Decr)
	ENERGY SOURCES (GWH)
	Generation production
72	Nuclear		1,872			1,886			(14	)		8,923			8,512			411
73	Coal		3,311			3,422			(111	)		12,507			13,166			(659	)
74	Gas, oil and other		1,347			1,334			13			5,941			6,356			(415	)
75	Total generation production		6,530			6,642			(112	)		27,371			28,034			(663	)
	Purchased power
76	Firm load		472			638			(166	)		5,100			5,028			72
77	Marketing and trading		251			639			(388	)		1,990			4,558			(2,568	)
78	Total purchased power		723			1,277			(554	)		7,090			9,586			(2,496	)
79	Total energy sources		7,253			7,919			(666	)		34,461			37,620			(3,159	)
	POWER PLANT PERFORMANCE
	Capacity Factors
80	Nuclear		74	%		74	%		0	%		89	%		84	%		5	%
81	Coal		86	%		89	%		(3	)%		82	%		86	%		(4	)%
82	Gas, oil and other		18	%		18	%		0	%		20	%		22	%		(2	)%
83	System average		47	%		48	%		(1	)%		50	%		51	%		(1	)%
	ECONOMIC INDICATORS
	Building Permits — Metro Phoenix (a)
84	Single-family		1,624			1,124			500			6,340			10,350			(4,010	)
85	Multi-family		181			1,173			(992	)		1,198			7,453			(6,255	)
86	Total		1,805			2,297			(492	)		7,538			17,803			(10,265	)
	Arizona Job Growth (b)
87	Payroll job growth (% over prior year)		(5.7	)%		(3.6	)%		(2.1	)%		(6.7	)%		(1.6	)%		(5.1	)%
88	Unemployment rate (%, seasonally adjusted)		9.1	%		6.4	%		2.7	%		8.5	%		5.1	%		3.4	%

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.

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