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

Exhibit 99.2

Last updated 8/2/12

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary

Periods Ended June 30, 2012 and 2011

		3 Months Ended June 30,									6 Months Ended June 30,
Line		2012			2011			Incr (Decr)			2012			2011			Incr (Decr)
	EARNINGS CONTRIBUTION BY SUBSIDIARY (Dollars in Millions)
1	Arizona Public Service	$	133		$	95		$	38		$	136		$	88		$	48
2	El Dorado	—			—			—			—			—			—
3	Parent Company	(2		)	(2		)	—			(5		)	(5		)	—
4	Income From Continuing Operations	131			93			38			131			83			48
	Income (Loss) From Discontinued Operations - Net of Tax
5	SunCor	—			—			—			(1		)	—			(1		)
6	Other	(1		)	1			(2		)	—			1			(1		)
7	Total	(1		)	1			(2		)	(1		)	1			(2		)
8	Net Income	130			94			36			130			84			46
9	Less: Net Income Attributable to Noncontrolling Interests	8			7			1			16			12			4
10	Net Income Attributable to Common Shareholders	$	122		$	87		$	35		$	114		$	72		$	42
	EARNINGS PER SHARE BY SUBSIDIARY - DILUTED
11	Arizona Public Service	$	1.20		$	0.86		$	0.34		$	1.24		$	0.81		$	0.43
12	El Dorado	—			—			—			—			—			—
13	Parent Company	(0.01		)	(0.01		)	—			(0.05		)	(0.05		)	—
14	Income From Continuing Operations	1.19			0.85			0.34			1.19			0.76			0.43
	Income (Loss) From Discontinued Operations - Net of Tax
15	SunCor	—			—			—			(0.01		)	—			(0.01		)
16	Other	(0.01		)	0.01			(0.02		)	—			0.01			(0.01		)
17	Total	(0.01		)	0.01			(0.02		)	(0.01		)	0.01			(0.02		)
18	Net Income	1.18			0.86			0.32			1.18			0.77			0.41
19	Less: Net Income Attributable to Noncontrolling Interests	0.07			0.07			—			0.14			0.12			0.02
20	Net Income Attributable to Common Shareholders	$	1.11		$	0.79		$	0.32		$	1.04		$	0.65		$	0.39
21	BOOK VALUE PER SHARE	$	34.49		$	33.13		$	1.36		$	34.49		$	33.13		$	1.36
	COMMON SHARES OUTSTANDING (Thousands)
22	Average - Diluted	110,359			109,718			641			110,183			109,540			643
23	End of Period	109,540			109,090			450			109,540			109,090			450

See Glossary of Terms.

Page 1 of 4

Last updated 8/2/12

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary

Periods Ended June 30, 2012 and 2011

		3 Months Ended June 30,							6 Months Ended June 30,
Line		2012		2011		Incr (Decr)			2012		2011		Incr (Decr)
	ELECTRIC OPERATING REVENUES (Dollars in Millions)
	REGULATED ELECTRICITY SEGMENT
	Retail
24	Residential	$	418	$	360	$	58		$	690	$	633	$	57
25	Business	401		380		21			693		679		14
26	Total retail	819		740		79			1,383		1,312		71
	Wholesale revenue on delivered electricity
27	Traditional contracts	22		20		2			34		31		3
28	Off-system sales	16		16		—			37		33		4
29	Transmission for others	7		8		(1		)	13		16		(3		)
30	Other miscellaneous services	14		15		(1		)	31		55		(24		)
31	Total regulated operating electricity revenues	878		799		79			1,498		1,447		51
	MARKETING AND TRADING
32	Electricity and other commodity sales	—		—		—			—		—		—
33	Total operating electric revenues	$	878	$	799	$	79		$	1,498	$	1,447	$	51
	ELECTRIC SALES (GWH)
	REGULATED ELECTRICITY SEGMENT
	Retail sales
34	Residential	3,333		2,968		365			5,886		5,620		266
35	Business	3,922		3,746		176			7,112		7,020		92
36	Total retail	7,255		6,714		541			12,998		12,640		358
	Wholesale electricity delivered
37	Traditional contracts	334		270		64			497		412		85
38	Off-system sales	652		690		(38		)	1,518		1,336		182
39	Retail load hedge management	50		37		13			80		69		11
40	Total regulated electricity	8,291		7,711		580			15,093		14,457		636
	MARKETING AND TRADING
41	Wholesale sales of electricity	—		—		—			—		—		—
42	Total electric sales	8,291		7,711		580			15,093		14,457		636

See Glossary of Terms.

Page 2 of 4

Last updated 8/2/12

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary

Periods Ended June 30, 2012 and 2011

		3 Months Ended June 30,						6 Months Ended June 30,
Line		2012		2011		Incr (Decr)		2012		2011		Incr (Decr)
	AVERAGE ELECTRIC CUSTOMERS
	Retail customers
43	Residential	1,001,323		992,605		8,718		1,004,452		996,148		8,304
44	Business	127,209		125,759		1,450		126,921		125,676		1,245
45	Total	1,128,532		1,118,364		10,168		1,131,373		1,121,824		9,549
46	Wholesale customers	48		47		1		47		47		—
47	Total customers	1,128,580		1,118,411		10,169		1,131,420		1,121,871		9,549
48	Customer growth (% over prior year)	0.9	%	0.3	%	0.6	%	0.9	%	0.4	%	0.5	%
	RETAIL SALES (GWH) - WEATHER NORMALIZED
49	Residential	3,178		3,219		(41	)	5,816		5,859		(43	)
50	Business	3,876		3,840		36		7,081		7,098		(17	)
51	Total	7,054		7,059		(5	)	12,897		12,957		(60	)
	RETAIL USAGE (KWh/Average Customer)
52	Residential	3,328		2,990		338		5,860		5,642		218
53	Business	30,836		29,783		1,053		56,033		55,857		176
	RETAIL USAGE - WEATHER NORMALIZED (KWh/Average Customer)
54	Residential	3,174		3,243		(69	)	5,791		5,882		(91	)
55	Business	30,473		30,539		(66	)	55,791		56,482		(691	)
	ELECTRICITY DEMAND (MW)
56	Native load peak demand	6,755		6,776		(21	)	6,755		6,776		(21	)
	WEATHER INDICATORS - RESIDENTIAL
	Actual
57	Cooling degree-days	568		375		193		568		375		193
58	Heating degree-days	9		27		(18	)	426		614		(188	)
59	Average humidity	15	%	14	%	1	%	15	%	14	%	1	%
	10-Year Averages
60	Cooling degree-days	499		499		—		499		499		—
61	Heating degree-days	13		13		—		513		513		—
62	Average humidity	16	%	16	%	0	%	16	%	16	%	0	%

See Glossary of Terms.

Page 3 of 4

Last updated 8/2/12

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary

Periods Ended June 30, 2012 and 2011

		3 Months Ended June 30,						6 Months Ended June 30,
Line		2012		2011		Incr (Decr)		2012		2011		Incr (Decr)
	ENERGY SOURCES (GWH)
	Generation production
63	Nuclear	2,336		2,178		158		4,696		4,626		70
64	Coal	2,376		2,988		(612	)	4,948		5,938		(990	)
65	Gas, oil and other	2,180		1,197		983		3,424		2,038		1,386
66	Total generation production	6,892		6,363		529		13,068		12,602		466
	Purchased power
67	Firm load	1,688		1,359		329		2,857		1,976		881
68	Marketing and trading	100		358		(258	)	170		585		(415	)
69	Total purchased power	1,788		1,717		71		3,027		2,561		466
70	Total energy sources	8,680		8,080		600		16,095		15,163		932
	POWER PLANT PERFORMANCE
	Capacity Factors
71	Nuclear	93	%	87	%	6	%	94	%	93	%	1	%
72	Coal	62	%	78	%	(16	)%	65	%	78	%	(13	)%
73	Gas, oil and other	29	%	17	%	12	%	23	%	15	%	8	%
74	System average	50	%	48	%	2	%	47	%	48	%	(1	)%
	ECONOMIC INDICATORS
	Building Permits (a)
75	Metro Phoenix	3,189		1,841		1,348		5,418		3,504		1,914
	Arizona Job Growth (b)
76	Payroll job growth (% over prior year)	2.1	%	0.7	%	1.4	%	1.9	%	0.7	%	1.2	%
77	Unemployment rate (%, seasonally adjusted)	8.2	%	9.6	%	(1.4	)%	8.4	%	9.7	%	(1.3	)%

Sources:

(a)RL Brown Housing Reports — Builder’s Research Institute, LLC  Home Builder’s Marketing, Inc.

(b)Arizona Department of Economic Security

See Glossary of Terms.

Page 4 of 4