Exhibit 99.4
Last Updated 11/4/2008
Pinnacle West Capital Corporation
Consolidated Statistics By Quarter
2007
| Increase | ||||||||||||||||||||||||||
| (Decrease) | ||||||||||||||||||||||||||
| Line | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Year-To-Date | vs Prior YTD | ||||||||||||||||||||
EARNINGS CONTRIBUTION BY SUBSIDIARY ($ Millions) | ||||||||||||||||||||||||||
| 1 | Arizona Public Service | $ | 4 | $ | 75 | $ | 204 | $ | — | $ | 284 | $ | 14 | |||||||||||||
| 2 | Pinnacle West Energy | — | — | — | — | — | — | |||||||||||||||||||
| 3 | APS Energy Services | 1 | (1 | ) | 2 | (2 | ) | — | 3 | |||||||||||||||||
| 4 | SunCor | 9 | 1 | (1 | ) | 6 | 14 | (36 | ) | |||||||||||||||||
| 5 | El Dorado | (2 | ) | — | (3 | ) | (1 | ) | (6 | ) | (3 | ) | ||||||||||||||
| 6 | Parent Company | 5 | 4 | — | 1 | 9 | 6 | |||||||||||||||||||
| 7 | Income From Continuing Operations | 17 | 79 | 202 | 4 | 301 | (16 | ) | ||||||||||||||||||
| Income (Loss) From Discontinued Operations — Net of Tax | ||||||||||||||||||||||||||
| 8 | Silverhawk | — | — | — | — | — | (1 | ) | ||||||||||||||||||
| 9 | SunCor | — | — | 7 | 2 | 9 | (1 | ) | ||||||||||||||||||
| 10 | Other | — | — | — | (3 | ) | (3 | ) | (2 | ) | ||||||||||||||||
| 11 | Total | — | — | 7 | (1 | ) | 6 | (4 | ) | |||||||||||||||||
| 12 | Net Income | $ | 17 | $ | 79 | $ | 209 | $ | 3 | $ | 307 | $ | (20 | ) | ||||||||||||
EARNINGS PER SHARE BY SUBSIDIARY — DILUTED | ||||||||||||||||||||||||||
| 13 | Arizona Public Service | $ | 0.04 | $ | 0.75 | $ | 2.03 | $ | — | $ | 2.82 | $ | 0.12 | |||||||||||||
| 14 | Pinnacle West Energy | — | — | — | — | — | — | |||||||||||||||||||
| 15 | APS Energy Services | 0.01 | (0.01 | ) | 0.01 | (0.02 | ) | (0.01 | ) | 0.02 | ||||||||||||||||
| 16 | SunCor | 0.09 | 0.01 | (0.01 | ) | 0.06 | 0.15 | (0.35 | ) | |||||||||||||||||
| 17 | El Dorado | (0.02 | ) | — | (0.03 | ) | (0.01 | ) | (0.06 | ) | (0.03 | ) | ||||||||||||||
| 18 | Parent Company | 0.04 | 0.04 | — | 0.01 | 0.09 | 0.06 | |||||||||||||||||||
| 19 | Income From Continuing Operations | 0.16 | 0.79 | 2.00 | 0.04 | 2.99 | (0.18 | ) | ||||||||||||||||||
| Income (Loss) From Discontinued Operations — Net of Tax | ||||||||||||||||||||||||||
| 20 | Silverhawk | — | — | — | — | — | — | |||||||||||||||||||
| 21 | SunCor | — | (0.01 | ) | 0.07 | 0.02 | 0.08 | (0.02 | ) | |||||||||||||||||
| 22 | Other | — | — | — | (0.03 | ) | (0.02 | ) | (0.02 | ) | ||||||||||||||||
| 23 | Total | — | (0.01 | ) | 0.07 | (0.01 | ) | 0.06 | (0.04 | ) | ||||||||||||||||
| 24 | Net Income | $ | 0.16 | $ | 0.78 | $ | 2.07 | $ | 0.03 | $ | 3.05 | $ | (0.22 | ) | ||||||||||||
| 25 | BOOK VALUE PER SHARE | $ | 34.45 | $ | 34.13 | $ | 35.55 | $ | 35.15 | $ | 35.15 | $ | 0.67 | |||||||||||||
COMMON SHARES OUTSTANDING (Thousands) | ||||||||||||||||||||||||||
| 26 | Average — Diluted | 100,622 | 100,779 | 100,829 | 100,963 | 100,835 | 825 | |||||||||||||||||||
| 27 | End of Period | 100,115 | 100,290 | 100,367 | 100,486 | 100,486 | 838 | |||||||||||||||||||
| See Glossary of Terms. | Page 14 of 31 |
Last Updated 11/4/2008
Pinnacle West Capital Corporation
Consolidated Statistics By Quarter
2007
| Increase | ||||||||||||||||||||||||||
| (Decrease) | ||||||||||||||||||||||||||
| Line | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Year-To-Date | vs Prior YTD | ||||||||||||||||||||
ELECTRIC OPERATING REVENUES (Dollars in Millions) | ||||||||||||||||||||||||||
REGULATED ELECTRICITY SEGMENT | ||||||||||||||||||||||||||
Retail | ||||||||||||||||||||||||||
| 28 | Residential | $ | 246 | $ | 335 | $ | 574 | $ | 263 | $ | 1,418 | $ | 147 | |||||||||||||
| 29 | Business | 264 | 342 | 425 | 323 | 1,355 | 116 | |||||||||||||||||||
| 30 | Total retail | 510 | 677 | 999 | 586 | 2,773 | 263 | |||||||||||||||||||
Wholesale revenue on delivered electricity | ||||||||||||||||||||||||||
| 31 | Traditional contracts | 5 | 9 | 12 | 7 | 34 | 12 | |||||||||||||||||||
| 32 | Off-system sales | 7 | 10 | 16 | 17 | 49 | 3 | |||||||||||||||||||
| 33 | Transmission for others | 7 | 7 | 8 | 7 | 29 | 3 | |||||||||||||||||||
| 34 | Other miscellaneous services | 7 | 8 | 9 | 10 | 33 | 2 | |||||||||||||||||||
| 35 | Total regulated operating electricity revenues | 536 | 711 | 1,044 | 627 | 2,918 | 283 | |||||||||||||||||||
MARKETING AND TRADING | ||||||||||||||||||||||||||
| 36 | Electricity and other commodity sales | 72 | 93 | 99 | 78 | 342 | 11 | |||||||||||||||||||
| 37 | Total operating electric revenues | $ | 608 | $ | 804 | $ | 1,143 | $ | 705 | $ | 3,260 | $ | 294 | |||||||||||||
ELECTRIC SALES (GWH) | ||||||||||||||||||||||||||
REGULATED ELECTRICITY SEGMENT | ||||||||||||||||||||||||||
Retail sales | ||||||||||||||||||||||||||
| 38 | Residential | 2,734 | 3,287 | 5,084 | 2,667 | 13,771 | 777 | |||||||||||||||||||
| 39 | Business | 3,285 | 4,004 | 4,426 | 3,685 | 15,400 | 424 | |||||||||||||||||||
| 40 | Total retail | 6,019 | 7,291 | 9,510 | 6,352 | 29,171 | 1,201 | |||||||||||||||||||
Wholesale electricity delivered | ||||||||||||||||||||||||||
| 41 | Traditional contracts | 175 | 262 | 296 | 190 | 923 | 40 | |||||||||||||||||||
| 42 | Off-system sales | 243 | 310 | 478 | 448 | 1,481 | (132 | ) | ||||||||||||||||||
| 43 | Retail load hedge management | 117 | 254 | 529 | 125 | 1,026 | (564 | ) | ||||||||||||||||||
| 44 | Total regulated electricity | 6,554 | 8,117 | 10,813 | 7,115 | 32,601 | 545 | |||||||||||||||||||
MARKETING AND TRADING | ||||||||||||||||||||||||||
| 45 | Wholesale sales of electricity | 1,923 | 2,648 | 3,146 | 1,681 | 9,397 | (6,958 | ) | ||||||||||||||||||
| 46 | Total electric sales | 8,477 | 10,765 | 13,959 | 8,796 | 41,998 | (6,413 | ) | ||||||||||||||||||
| See Glossary of Terms. | Page 15 of 31 |
Last Updated 11/4/2008
Pinnacle West Capital Corporation
Consolidated Statistics By Quarter
2007
| Increase | ||||||||||||||||||||||||||
| (Decrease) | ||||||||||||||||||||||||||
| Line | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Year-To-Date | vs Prior YTD | ||||||||||||||||||||
POWER SUPPLY ADJUSTOR (“PSA”) — REGULATED ELECTRICITY SEGMENT (Dollars in Millions) | ||||||||||||||||||||||||||
| 47 | Deferred fuel and purchased power regulatory asset — beginning balance | $ | 160 | $ | 118 | $ | 137 | $ | 150 | $ | 160 | $ | (13 | ) | ||||||||||||
| 48 | Deferred fuel and purchased power costs — current period | 25 | 104 | 69 | (9 | ) | 189 | (55 | ) | |||||||||||||||||
| 49 | Regulatory disallowance | — | (14 | ) | — | — | (14 | ) | (14 | ) | ||||||||||||||||
| 50 | Interest on deferred fuel | 2 | 1 | 2 | 2 | 7 | (1 | ) | ||||||||||||||||||
| 51 | Amounts recovered through revenues | (69 | ) | (72 | ) | (58 | ) | (32 | ) | (231 | ) | 34 | ||||||||||||||
| 52 | Deferred fuel and purchased power regulatory asset — ending balance | $ | 118 | $ | 137 | $ | 150 | $ | 111 | $ | 111 | $ | (49 | ) | ||||||||||||
MARKETING AND TRADING PRETAX GROSS MARGIN ANALYSIS (Dollars in Millions) | ||||||||||||||||||||||||||
Realized and Mark-To-Market Components | ||||||||||||||||||||||||||
| 53 | Electricity and other commodity sales, realized (a) | $ | 13 | $ | 23 | $ | 6 | $ | 11 | $ | 54 | $ | — | |||||||||||||
| 54 | Mark-to-market reversals on realized sales (a) (b) | (8 | ) | 1 | (3 | ) | (3 | ) | (7 | ) | 7 | |||||||||||||||
| 55 | Change in mark-to-market value of forward sales | 10 | (6 | ) | 2 | 2 | 1 | 1 | ||||||||||||||||||
| 56 | Total gross margin | $ | 15 | $ | 18 | $ | 5 | $ | 10 | $ | 48 | $ | 8 | |||||||||||||
By Pinnacle West Entity | ||||||||||||||||||||||||||
| 57 | APS | $ | (1 | ) | $ | 7 | $ | — | $ | — | $ | 7 | $ | (7 | ) | |||||||||||
| 58 | Pinnacle West | 11 | 10 | 1 | 9 | 31 | 14 | |||||||||||||||||||
| 59 | APS Energy Services | 5 | 1 | 4 | 1 | 10 | 1 | |||||||||||||||||||
| 60 | Pinnacle West Energy | — | — | — | — | — | — | |||||||||||||||||||
| 61 | Total gross margin | $ | 15 | $ | 18 | $ | 5 | $ | 10 | $ | 48 | $ | 8 | |||||||||||||
Future Marketing and Trading Mark-to-Market Realization
As of December 31, 2007, Pinnacle West had accumulated net mark-to-market gains of $9 million related to our power marketing and trading activities. We estimate that these gains will be reclassified to realized gains as the underlying commodities are delivered, as follows: 2008, $2 million; and thereafter, $7 million.
| (a) | Net effect on pretax gross margin from realization of prior-period mark-to-market included in line 53 and in line 54 is zero. Realization of prior-period mark-to-market relates to cash flow recognition, not earnings recognition. The arithmetic opposites of amounts included in line 53 are included in line 54. For example, line 54 shows that a prior-period mark-to-market gain of $7 million was transferred to “realized” for the total year of 2007. A $7 million realized gain is included in the $54 million on line 53 for the total year of 2007. | |
| (b) | Quarterly amounts do not total to annual amounts because of intra-year mark-to-market eliminations. |
| See Glossary of Terms. | Page 16 of 31 |
Last Updated 11/4/2008
Pinnacle West Capital Corporation
Consolidated Statistics By Quarter
2007
| Increase | ||||||||||||||||||||||||||
| (Decrease) | ||||||||||||||||||||||||||
| Line | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Year-To-Date | vs Prior YTD | ||||||||||||||||||||
AVERAGE ELECTRIC CUSTOMERS | ||||||||||||||||||||||||||
Retail customers | ||||||||||||||||||||||||||
| 62 | Residential | 965,428 | 962,095 | 963,874 | 972,654 | 966,013 | 29,549 | |||||||||||||||||||
| 63 | Business | 118,649 | 119,792 | 120,918 | 121,898 | 120,314 | 4,883 | |||||||||||||||||||
| 64 | Total | 1,084,077 | 1,081,887 | 1,084,792 | 1,094,552 | 1,086,327 | 34,432 | |||||||||||||||||||
| 65 | Wholesale customers | 63 | 62 | 61 | 56 | 61 | (16 | ) | ||||||||||||||||||
| 66 | Total customers | 1,084,140 | 1,081,949 | 1,084,853 | 1,094,608 | 1,086,388 | 34,416 | |||||||||||||||||||
| 67 | Customer growth (% over prior year) | 3.8 | % | 3.5 | % | 3.2 | % | 2.6 | % | 3.3 | % | (1.1 | )% | |||||||||||||
RETAIL SALES (GWH) — WEATHER NORMALIZED | ||||||||||||||||||||||||||
| 68 | Residential | 2,657 | 3,220 | 4,810 | 2,704 | 13,390 | 378 | |||||||||||||||||||
| 69 | Business | 3,228 | 3,977 | 4,368 | 3,663 | 15,236 | 223 | |||||||||||||||||||
| 70 | Total | 5,885 | 7,197 | 9,178 | 6,367 | 28,626 | 601 | |||||||||||||||||||
RETAIL USAGE (KWh/Average Customer) | ||||||||||||||||||||||||||
| 71 | Residential | 2,832 | 3,417 | 5,275 | 2,742 | 14,256 | 380 | |||||||||||||||||||
| 72 | Business | 27,687 | 33,425 | 36,601 | 30,230 | 127,998 | (1,751 | ) | ||||||||||||||||||
RETAIL USAGE — WEATHER NORMALIZED (KWh/Average Customer) | ||||||||||||||||||||||||||
| 73 | Residential | 2,752 | 3,346 | 4,990 | 2,780 | 13,861 | (33 | ) | ||||||||||||||||||
| 74 | Business | 27,205 | 33,199 | 36,126 | 30,047 | 126,633 | (3,431 | ) | ||||||||||||||||||
ELECTRICITY DEMAND (MW) | ||||||||||||||||||||||||||
| 75 | Native load peak demand | 4,496 | 6,705 | 7,128 | 5,089 | 7,128 | (92 | ) | ||||||||||||||||||
| See Glossary of Terms. | Page 17 of 31 |
Last Updated 11/4/2008
Pinnacle West Capital Corporation
Consolidated Statistics By Quarter
2007
| Increase | ||||||||||||||||||||||||||
| (Decrease) | ||||||||||||||||||||||||||
| Line | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Year-To-Date | vs Prior YTD | ||||||||||||||||||||
ENERGY SOURCES (GWH) | ||||||||||||||||||||||||||
Generation production | ||||||||||||||||||||||||||
| 76 | Nuclear | 2,299 | 1,846 | 2,218 | 1,430 | 7,794 | 806 | |||||||||||||||||||
| 77 | Coal | 3,164 | 3,265 | 3,563 | 3,350 | 13,342 | 166 | |||||||||||||||||||
| 78 | Gas, oil and other | 1,151 | 1,518 | 2,480 | 1,554 | 6,703 | (681 | ) | ||||||||||||||||||
| 79 | Total generation production | 6,614 | 6,629 | 8,261 | 6,334 | 27,839 | 291 | |||||||||||||||||||
Purchased power | ||||||||||||||||||||||||||
| 80 | Firm load | 278 | 1,676 | 2,521 | 913 | 5,388 | 1,098 | |||||||||||||||||||
| 81 | Marketing and trading | 2,128 | 3,097 | 3,993 | 2,078 | 11,296 | (7,572 | ) | ||||||||||||||||||
| 82 | Total purchased power | 2,406 | 4,773 | 6,514 | 2,991 | 16,684 | (6,474 | ) | ||||||||||||||||||
| 83 | Total energy sources | 9,020 | 11,402 | 14,775 | 9,325 | 44,523 | (6,183 | ) | ||||||||||||||||||
POWER PLANT PERFORMANCE | ||||||||||||||||||||||||||
Capacity Factors | ||||||||||||||||||||||||||
| 84 | Nuclear | 94 | % | 75 | % | 89 | % | 57 | % | 79 | % | 8 | % | |||||||||||||
| 85 | Coal | 84 | % | 86 | % | 93 | % | 87 | % | 87 | % | 0 | % | |||||||||||||
| 86 | Gas, oil and other | 16 | % | 21 | % | 34 | % | 21 | % | 23 | % | (2 | )% | |||||||||||||
| 87 | System average | 50 | % | 49 | % | 61 | % | 47 | % | 52 | % | 1 | % | |||||||||||||
Generation Capacity Out of Service and Replaced for Native Load (average MW/day) (a) | ||||||||||||||||||||||||||
| 88 | Nuclear | 57 | 260 | 76 | 470 | 216 | 63 | |||||||||||||||||||
| 89 | Coal | 203 | 189 | 79 | 164 | 158 | 76 | |||||||||||||||||||
| 90 | Gas | 267 | 405 | 147 | 264 | 271 | 182 | |||||||||||||||||||
| 91 | Total | 527 | 854 | 302 | 898 | 645 | 321 | |||||||||||||||||||
| (a) | Includes planned and unplanned outages |
| See Glossary of Terms. | Page 18 of 31 |
Last Updated 11/4/2008
Pinnacle West Capital Corporation
Consolidated Statistics By Quarter
2007
| Increase | ||||||||||||||||||||||||||
| (Decrease) | ||||||||||||||||||||||||||
| Line | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Year-To-Date | vs Prior YTD | ||||||||||||||||||||
ENERGY MARKET INDICATORS (a) | ||||||||||||||||||||||||||
Electricity Average Daily Spot Prices ($/MWh) | ||||||||||||||||||||||||||
On-Peak | ||||||||||||||||||||||||||
| 92 | Palo Verde | $ | 54.62 | $ | 64.64 | $ | 69.26 | $ | 57.18 | $ | 61.43 | $ | 4.67 | |||||||||||||
| 93 | SP15 | $ | 60.02 | $ | 68.75 | $ | 68.84 | $ | 68.13 | $ | 66.44 | $ | 4.49 | |||||||||||||
Off-Peak | ||||||||||||||||||||||||||
| 94 | Palo Verde | $ | 42.06 | $ | 41.46 | $ | 37.03 | $ | 44.39 | $ | 41.24 | $ | 4.15 | |||||||||||||
| 95 | SP15 | $ | 45.86 | $ | 46.14 | $ | 41.23 | $ | 50.71 | $ | 45.99 | $ | 5.38 | |||||||||||||
WEATHER INDICATORS | ||||||||||||||||||||||||||
Actual | ||||||||||||||||||||||||||
| 96 | Cooling degree-days | 172 | 1,708 | 2,686 | 595 | 5,161 | 466 | |||||||||||||||||||
| 97 | Heating degree-days | 589 | 8 | — | 398 | 995 | 144 | |||||||||||||||||||
| 98 | Average humidity | 36 | % | 18 | % | 30 | % | 30 | % | 30 | % | 2 | % | |||||||||||||
10-Year Averages | ||||||||||||||||||||||||||
| 99 | Cooling degree-days | 96 | 1,554 | 2,544 | 441 | 4,635 | — | |||||||||||||||||||
| 100 | Heating degree-days | 517 | 28 | — | 394 | 939 | — | |||||||||||||||||||
| 101 | Average humidity | 42 | % | 22 | % | 32 | % | 38 | % | 33 | % | 0 | % | |||||||||||||
ECONOMIC INDICATORS | ||||||||||||||||||||||||||
Building Permits — Metro Phoenix (b) | ||||||||||||||||||||||||||
| 102 | Single-family | 7,017 | 7,447 | 4,827 | 1,530 | 20,821 | (7,155 | ) | ||||||||||||||||||
| 103 | Multi-family | 4,131 | 3,573 | 2,687 | 2,193 | 12,833 | 2,726 | |||||||||||||||||||
| 104 | Total | 11,148 | 11,020 | 7,514 | 3,723 | 33,654 | (4,429 | ) | ||||||||||||||||||
Arizona Job Growth (c) | ||||||||||||||||||||||||||
| 105 | Payroll job growth (% over prior year) | 4.1 | % | 3.3 | % | 2.6 | % | 0.1 | % | 2.5 | % | (2.9 | )% | |||||||||||||
| 106 | Unemployment rate (%, seasonally adjusted) | 4.0 | % | 3.7 | % | 3.6 | % | 4.1 | % | 3.9 | % | (0.2 | )% | |||||||||||||
| Sources: | ||
| (a) | Average of daily prices obtained and used with permission from Dow Jones & Company, Inc. | |
| (b) | Arizona Real Estate Center, Arizona State University W.P. Carey College of Business | |
| (c) | Arizona Department of Economic Security | |
| See Glossary of Terms. | Page 19 of 31 |