Pinnacle West Capital (PNW) 8-K Financial Statements and Exhibits

Exhibit 99.1

Item 14. Other Expenses of Issuance and Distribution.

The expenses, other than underwriting discounts and commissions, to be incurred by Arizona Public Service Company (“APS”) relating to the offering of $250,000,000 principal amount of its 2.200% Notes due 2020, under APS’s Registration Statement on Form S-3 (No. 333-180897-01) and a related prospectus supplement filed with the Securities and Exchange Commission and dated January 7, 2015 are estimated to be as follows:

Securities and Exchange Commission registration fee	$29,050
Printing, engraving, and postage expenses	$30,000
Legal fees and expenses	$7,500
Accounting fees and expenses	$50,000
Rating Agency fees	$380,000
Transfer Agent and Registrar, Trustee and Depository fees and expenses	$7,500
Blue Sky fees and expenses	$1,800
Total	$505,850