Pinnacle West Capital (PNW) 8-K Results of Operations and Financial Condition

Exhibit 99.1

Last Updated 5/5/2009

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary

Periods Ended March 31, 2009 and 2008

		3 Mo. Ended March
Line		2009			2008			Incr (Decr)
	EARNINGS CONTRIBUTION BY SUBSIDIARY ($ Millions)
1	Arizona Public Service	$	(15	)	$	(6	)	$	(9	)
2	APS Energy Services		(1	)		1			(2	)
3	SunCor		(224	)		(4	)		(220	)
4	El Dorado		(6	)		(1	)		(5	)
5	Parent Company		78			4			74
6	Income (Loss) From Continuing Operations		(168	)		(6	)		(162	)
	Income (Loss) From Discontinued Operations — Net of Tax
7	SunCor		(5	)		3			(8	)
8	Other		2			(1	)		3
9	Total		(3	)		2			(5	)
10	Net Income (Loss)		(171	)		(4	)		(167	)
11	Less: Net Income (Loss) Attributable to Noncontrolling Interests		(14	)		—			(14	)
12	Net Income (Loss) Attributable to Common Shareholders	$	(157	)	$	(4	)	$	(153	)
	EARNINGS PER SHARE BY SUBSIDIARY — DILUTED
13	Arizona Public Service	$	(0.15	)	$	(0.06	)	$	(0.09	)
14	APS Energy Services		(0.01	)		0.01			(0.02	)
15	SunCor		(2.22	)		(0.03	)		(2.19	)
16	El Dorado		(0.06	)		(0.02	)		(0.04	)
17	Parent Company		0.78			0.04			0.74
18	Income (Loss) From Continuing Operations		(1.66	)		(0.06	)		(1.60	)
	Income (Loss) From Discontinued Operations — Net of Tax
19	SunCor		(0.05	)		0.03			(0.08	)
20	Other		0.02			(0.01	)		0.03
21	Total		(0.03	)		0.02			(0.05	)
22	Net Income (Loss)		(1.69	)		(0.04	)		(1.65	)
23	Less: Net Income (Loss) Attributable to Noncontrolling Interests		(0.14	)		—			(0.14	)
24	Net Income (Loss) Attributable to Common Shareholders	$	(1.55	)	$	(0.04	)	$	(1.51	)
25	BOOK VALUE PER SHARE	$	31.29		$	35.22		$	(3.93	)
	COMMON SHARES OUTSTANDING (Thousands)
26	Average — Diluted		100,986			100,521			465
27	End of Period		101,074			100,625			449

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Last Updated 5/5/2009

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary

Periods Ended March 31, 2009 and 2008

		3 Mo. Ended March
Line		2009			2008			Incr (Decr)
	ELECTRIC OPERATING REVENUES (Dollars in Millions)
	REGULATED ELECTRICITY SEGMENT
	Retail
28	Residential	$	256		$	271		$	(15	)
29	Business		298			300			(2	)
30	Total retail		554			571			(17	)
	Wholesale revenue on delivered electricity
31	Traditional contracts		11			12			(1	)
32	Off-system sales		22			24			(2	)
33	Transmission for others		7			7			—
34	Other miscellaneous services		9			9			—
35	Total regulated operating electricity revenues		603			623			(20	)
	MARKETING AND TRADING
36	Electricity and other commodity sales		—			30			(30	)
37	Total operating electric revenues	$	603		$	653		$	(50	)
	ELECTRIC SALES (GWH)
	REGULATED ELECTRICITY SEGMENT
	Retail sales
38	Residential		2,499			2,774			(275	)
39	Business		3,260			3,338			(78	)
40	Total retail		5,759			6,112			(353	)
	Wholesale electricity delivered
41	Traditional contracts		165			222			(57	)
42	Off-system sales		697			416			281
43	Retail load hedge management		152			162			(10	)
44	Total regulated electricity		6,773			6,912			(139	)
	MARKETING AND TRADING
45	Wholesale sales of electricity		—			911			(911	)
46	Total electric sales		6,773			7,823			(1,050	)
	POWER SUPPLY ADJUSTOR (“PSA”) — REGULATED ELECTRICITY SEGMENT (Dollars in Millions)
47	Deferred fuel and purchased power regulatory asset — beginning balance	$	8		$	111		$	(103	)
48	Deferred fuel and purchased power costs — current period		(28	)		(11	)		(17	)
49	Interest on deferred fuel		—			1			(1	)
50	Amounts recovered through revenues		(29	)		(51	)		22
51	Deferred fuel and purchased power regulatory asset — ending balance	$	(49	)	$	50		$	(99	)

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Last Updated 5/5/2009

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary

Periods Ended March 31, 2009 and 2008

		3 Mo. Ended March
Line		2009			2008			Incr (Decr)
	AVERAGE ELECTRIC CUSTOMERS
	Retail customers
52	Residential		988,675			982,459			6,216
53	Business		125,111			122,833			2,278
54	Total		1,113,786			1,105,292			8,494
55	Wholesale customers		50			50			—
56	Total customers		1,113,836			1,105,342			8,494
57	Customer growth (% over prior year)		0.8	%		2.0	%		(1.2	)%
	RETAIL SALES (GWH) — WEATHER NORMALIZED
58	Residential		2,609			2,694			(85	)
59	Business		3,286			3,300			(14	)
60	Total		5,895			5,994			(99	)
	RETAIL USAGE (KWh/Average Customer)
61	Residential		2,527			2,824			(297	)
62	Business		26,057			27,175			(1,118	)
	RETAIL USAGE — WEATHER NORMALIZED (KWh/Average Customer)
63	Residential		2,639			2,742			(103	)
64	Business		26,266			26,865			(599	)
	ELECTRICITY DEMAND (MW)
65	Native load peak demand		4,023			4,404			(381	)
	WEATHER INDICATORS
	Actual
66	Cooling degree-days		104			105			(1	)
67	Heating degree-days		383			583			(200	)
68	Average humidity		35	%		40	%		(5	)%
	10-Year Averages
69	Cooling degree-days		71			96			(25	)
70	Heating degree-days		571			517			54
71	Average humidity		41	%		42	%		(1	)%

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Last Updated 5/5/2009

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary

Periods Ended March 31, 2009 and 2008

		3 Mo. Ended March
Line		2009			2008			Incr (Decr)
	ENERGY SOURCES (GWH)
	Generation production
72	Nuclear		2,493			2,315			178
73	Coal		2,951			2,906			45
74	Gas, oil and other		1,025			1,148			(123	)
75	Total generation production		6,469			6,369			100
	Purchased power
76	Firm load		508			740			(232	)
77	Marketing and trading		260			1,196			(936	)
78	Total purchased power		768			1,936			(1,168	)
79	Total energy sources		7,237			8,305			(1,068	)
	POWER PLANT PERFORMANCE
	Capacity Factors
80	Nuclear		101	%		92	%		9	%
81	Coal		78	%		76	%		2	%
82	Gas, oil and other		14	%		16	%		(2	)%
83	System average		48	%		47	%		1	%
	ECONOMIC INDICATORS
	Building Permits — Metro Phoenix (a) (c)
84	Single-family		505			1,967			(1,462	)
85	Multi-family		308			1,425			(1,117	)
86	Total		813			3,392			(2,579	)
	Arizona Job Growth (b) (c)
87	Payroll job growth (% over prior year)		(6.2	)%		0.1	%		(6.3	)%
88	Unemployment rate (%, seasonally adjusted)		7.2	%		4.5	%		2.7	%

Sources:

(a)	Arizona Real Estate Center, Arizona State University W.P. Carey College of Business
(b)	Arizona Department of Economic Security
(c)	Economic indicators reflect periods ended February 28, 2009 (latest available data) and February 28, 2008.

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