Exhibit 99.2
Last Updated 2/19/2010
Pinnacle West Capital Corporation
Quarterly Consolidated Statistical Summary
Periods Ended December 31, 2009 and 2008
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
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
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
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.
Page 4 of 4