Arizona Public Service 8-K Pinnacle West Reports First-quarter Results

Exhibit 99.2
Last updated 5/6/2010

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary
Periods Ended March 31, 2010 and 2009

	3 Months Ended March
Line	2010			2009			Incr (Decr)
EARNINGS CONTRIBUTION BY SUBSIDIARY ($ Millions)
1 Arizona Public Service	$	16		$	(10	)	$	26
2 APS Energy Services		—			(1	)		1
3 SunCor		(21	)		(221	)		200
4 El Dorado		—			(6	)		6
5 Parent Company		4			77			(73	)
6 Income From Continuing Operations		(1	)		(161	)		160
Income (Loss) From Discontinued Operations — Net of Tax
7 SunCor		—			(8	)		8
8 Other		—			3			(3	)
9 Total		—			(5	)		5
10 Net Income		(1	)		(166	)		165
11 Less: Net Income (Loss) Attributable to Noncontrolling Interests		5			(9	)		14
12 Net Income Attributable to Common Shareholders	$	(6	)	$	(157	)	$	151
EARNINGS PER SHARE BY SUBSIDIARY — DILUTED
13 Arizona Public Service	$	0.16		$	(0.11	)	$	0.27
14 APS Energy Services		—			(0.01	)		0.01
15 SunCor		(0.20	)		(2.19	)		1.99
16 El Dorado		—			(0.06	)		0.06
17 Parent Company		0.03			0.78			(0.75	)
18 Income From Continuing Operations		(0.01	)		(1.59	)		1.58
Income (Loss) From Discontinued Operations — Net of Tax
19 SunCor		—			(0.08	)		0.08
20 Other		—			0.03			(0.03	)
21 Total		—			(0.05	)		0.05
22 Net Income		(0.01	)		(1.64	)		1.63
23 Less: Net Income (Loss) Attributable to Noncontrolling Interests		0.05			(0.09	)		0.14
24 Net Income Attributable to Common Shareholders	$	(0.06	)	$	(1.55	)	$	1.49
25BOOK VALUE PER SHARE	$	31.65		$	31.29		$	0.36
COMMON SHARES OUTSTANDING (Thousands)
26 Average — Diluted		101,474			100,986			488
27 End of Period		101,534			101,074			460

See Glossary of Terms.

Page 1 of 4

Last updated 5/6/2010

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary
Periods Ended March 31, 2010 and 2009

	3 Months Ended March
Line	2010			2009			Incr (Decr)
ELECTRIC OPERATING REVENUES (Dollars in Millions)
REGULATED ELECTRICITY SEGMENT
Retail
28 Residential	$	267		$	256		$	11
29 Business		289			298			(9	)
30 Total retail		556			554			2
Wholesale revenue on delivered electricity
31 Traditional contracts		18			11			7
32 Off-system sales		16			22			(6	)
33 Transmission for others		8			7			1
34 Other miscellaneous services		13			9			4
35 Total regulated operating electricity revenues		611			603			9
MARKETING AND TRADING
36 Electricity and other commodity sales		—			—			—
37 Total operating electric revenues	$	611		$	603		$	9
ELECTRIC SALES (GWH)
REGULATED ELECTRICITY SEGMENT
Retail sales
38 Residential		2,575			2,499			76
39 Business		3,167			3,260			(93	)
40 Total retail		5,742			5,759			(17	)
Wholesale electricity delivered
41 Traditional contracts		156			165			(9	)
42 Off-system sales		609			697			(88	)
43 Retail load hedge management		201			152			49
44 Total regulated electricity		6,708			6,773			(65	)
MARKETING AND TRADING
45 Wholesale sales of electricity		—			—			—
46 Total electric sales		6,708			6,773			(65	)
POWER SUPPLY ADJUSTOR (“PSA”) — REGULATED ELECTRICITY SEGMENT (Dollars in Millions)
47 Deferred fuel and purchased power regulatory asset — beginning balance	$	(87	)	$	8		$	(95	)
48 Deferred fuel and purchased power costs — current period		(44	)		(28	)		(16	)
49 Interest on deferred fuel		—			—			—
50 Amounts recovered through revenues		26			(29	)		55
51 Deferred fuel and purchased power regulatory asset — ending balance	$	(105	)	$	(49	)	$	(56	)

See Glossary of Terms.

Page 2 of 4

Last updated 5/6/2010

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary
Periods Ended March 31, 2010 and 2009

	3 Months Ended March
Line	2010			2009			Incr (Decr)
AVERAGE ELECTRIC CUSTOMERS
Retail customers
52 Residential		995,053			988,675			6,378
53 Business		125,397			125,111			286
54 Total		1,120,450			1,113,786			6,664
55 Wholesale customers		51			50			1
						��
56 Total customers		1,120,501			1,113,836			6,665
57 Customer growth (% over prior year)		0.6	%		0.8	%		(0.2	)%
RETAIL SALES (GWH) — WEATHER NORMALIZED
58 Residential		2,554			2,586			(32	)
59 Business		3,196			3,261			(65	)
60 Total		5,750			5,847			(97	)
RETAIL USAGE (KWh/Average Customer)
61 Residential		2,588			2,528			60
62 Business		25,255			26,057			(802	)
RETAIL USAGE — WEATHER NORMALIZED (KWh/Average Customer)
63 Residential		2,567			2,616			(49	)
64 Business		25,489			26,065			(576	)
ELECTRICITY DEMAND (MW)
65 Native load peak demand		3,952			4,023			(71	)
WEATHER INDICATORS
Actual
66 Cooling degree-days		42			104			(62	)
67 Heating degree-days		501			383			118
68 Average humidity		34	%		35	%		(1	)%
10-Year Averages
69 Cooling degree-days		94			94			—
70 Heating degree-days		502			502			—
71 Average humidity		41	%		41	%		0	%

See Glossary of Terms.

Page 3 of 4

Last updated 5/6/2010

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary
Periods Ended March 31, 2010 and 2009

	3 Months Ended March
Line	2010			2009			Incr (Decr)
ENERGY SOURCES (GWH)
Generation production
72 Nuclear		2,365			2,493			(128	)
73 Coal		3,007			2,951			56
74 Gas, oil and other		816			1,025			(209	)
75 Total generation production		6,188			6,469			(281	)
Purchased power
76 Firm load		471			508			(37	)
77 Marketing and trading		421			260			161
78 Total purchased power		892			768			124
79 Total energy sources		7,080			7,237			(157	)
POWER PLANT PERFORMANCE
Capacity Factors
80 Nuclear		96	%		101	%		(5	)%
81 Coal		80	%		78	%		2	%
82 Gas, oil and other		11	%		14	%		(3	)%
83 System average		46	%		48	%		(2	)%
ECONOMIC INDICATORS
Building Permits — Metro Phoenix (a)
84 Single-family		1,149			837			312
85 Multi-family		253			539			(286	)
86 Total		1,402			1,376			26
Arizona Job Growth (b)
87 Payroll job growth (% over prior year)		(4.4	)%		(6.5	)%		2.1	%
88 Unemployment rate (%, seasonally adjusted)		9.4	%		8.3	%		1.1	%

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