Pinnacle West Capital 8K Pinnacle West Reports 2011 Fourth-quarter | PNW 24 Feb 12

Exhibit 99.2

Last Updated 2/24/2012

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary

Periods Ended December 31, 2011 and 2010

		3 Months Ended December									12 Months Ended December
Line		2011			2010			Incr (Decr)			2011			2010			Incr (Decr)

	EARNINGS CONTRIBUTION BY SUBSIDIARY ($ Millions)

1	Arizona Public Service	$	22		$	13		$	9		$	364		$	356		$	8
2	APS Energy Services	—			—			—			—			—			—
3	SunCor	—			—			—			—			—			—
4	El Dorado	—			—			—			—			2			(2		)
5	Parent Company	(2		)	(3		)	1			(8		)	(13		)	5

6	Income From Continuing Operations	20			10			10			356			345			11

	Income (Loss) From Discontinued Operations - Net of Tax
7	SunCor	—			—			—			(2		)	(9		)	7
8	Other	—			2			(2		)	13			34			(21		)
9	Total	—			2			(2		)	11			25			(14		)

10	Net Income	20			12			8			367			370			(3		)

11	Less: Net Income (Loss) Attributable to Noncontrolling Interests	7			5			2			28			20			8

12	Net Income Attributable to Common Shareholders	$	13		$	7		$	6		$	339		$	350		$	(11	)

	EARNINGS PER SHARE BY SUBSIDIARY - DILUTED

13	Arizona Public Service	$	0.20		$	0.12		$	0.08		$	3.31		$	3.32		$	(0.01	)
14	APS Energy Services	—			—			—			—			—			—
15	SunCor	—			—			—			—			—			—
16	El Dorado	—			—			—			—			0.01			(0.01		)
17	Parent Company	(0.02		)	(0.02		)	—			(0.07		)	(0.11		)	0.04

18	Income From Continuing Operations	0.18			0.10			0.08			3.24			3.22			0.02

	Income (Loss) From Discontinued Operations - Net of Tax
19	SunCor	—			—			—			(0.02		)	(0.08		)	0.06
20	Other	—			0.02			(0.02		)	0.12			0.32			(0.20		)
21	Total	—			0.02			(0.02		)	0.10			0.24			(0.14		)

22	Net Income	0.18			0.12			0.06			3.34			3.46			(0.12		)

23	Less: Net Income (Loss) Attributable to Noncontrolling Interests	0.07			0.05			0.02			0.25			0.19			0.06

24	Net Income Attributable to Common Shareholders	$	0.11		$	0.07		$	0.04		$	3.09		$	3.27		$	(0.18	)

25	BOOK VALUE PER SHARE	$	34.98		$	33.86		$	1.12		$	34.98		$	33.86		$	1.12

	COMMON SHARES OUTSTANDING (Thousands)
26	Average - Diluted	110,077			109,224			853			109,864			107,138			2,726
27	End of Period	109,246			108,770			476			109,246			108,770			476

See Glossary of Terms.

Last Updated 2/24/2012

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary

Periods Ended December 31, 2011 and 2010

		3 Months Ended December									12 Months Ended December
Line		2011			2010			Incr (Decr)			2011			2010			Incr (Decr)

	ELECTRIC OPERATING REVENUES (Dollars in Millions)

	REGULATED ELECTRICITY SEGMENT
	Retail
28	Residential	$	285		$	281		$	4		$	1,539		$	1,504		$	35
29	Business	335			325			10			1,454			1,441			13
30	Total retail	619			606			13			2,993			2,945			48
	Wholesale revenue on delivered electricity
31	Traditional contracts	13			11			2			68			65			3
32	Off-system sales	11			20			(9		)	59			86			(27		)
33	Transmission for others	6			8			(2		)	30			34			(4		)
34	Other miscellaneous services	16			10			6			87			50			37
35	Total regulated operating electricity revenues	667			655			12			3,237			3,180			57

	MARKETING AND TRADING
36	Electricity and other commodity sales	—			—			—			—			1			(1		)
37	Total operating electric revenues	$	667		$	655		$	12		$	3,237		$	3,181		$	56

	ELECTRIC SALES (GWH)

	REGULATED ELECTRICITY SEGMENT
	Retail sales
38	Residential	2,598			2,613			(15		)	13,290			13,035			255
39	Business	3,540			3,463			77			14,920			14,674			246
40	Total retail	6,139			6,076			63			28,210			27,709			501
	Wholesale electricity delivered
41	Traditional contracts	185			127			58			959			750			209
42	Off-system sales	447			674			(227		)	2,333			2,742			(409		)
43	Retail load hedge management	31			96			(65		)	153			659			(507		)
44	Total regulated electricity	6,802			6,973			(172		)	31,655			31,860			(205		)

	MARKETING AND TRADING
45	Wholesale sales of electricity	—			—			—			—			—			—
46	Total electric sales	6,802			6,973			(172		)	31,655			31,860			(205		)

	POWER SUPPLY ADJUSTOR (“PSA”) - REGULATED ELECTRICITY SEGMENT (Dollars in Millions)

47	Deferred fuel and purchased power regulatory asset - beginning balance	$	32		$	(41	)	$	73		$	(58	)	$	(87	)	$	29
48	Deferred fuel and purchased power costs - current period	(38		)	(44		)	6			(69		)	(93		)	24
49	Interest on deferred fuel				—			—						—			—
50	Amounts recovered through revenues	34			27			7			155			122			33
51	Deferred fuel and purchased power regulatory asset - ending balance	$	28		$	(58	)	$	86		$	28		$	(58	)	$	86

See Glossary of Terms.

Last Updated 2/24/2012

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary

Periods Ended December 31, 2011 and 2010

		3 Months Ended December						12 Months Ended December
Line		2011		2010		Incr (Decr)		2011		2010		Incr (Decr)

	AVERAGE ELECTRIC CUSTOMERS

	Retail customers
52	Residential	995,645		990,319		5,326		994,244		989,989		4,255
53	Business	126,497		125,232		1,265		125,992		125,320		672
54	Total	1,122,142		1,115,551		6,591		1,120,236		1,115,309		4,927
55	Wholesale customers	46		51		(5	)	46		51		(5	)
56	Total customers	1,122,188		1,115,602		6,586		1,120,282		1,115,360		4,922

57	Customer growth (% over prior year)	0.6	%	0.5	%	0.1	%	0.4	%	0.6	%	(0.2	)%

	RETAIL SALES (GWH) - WEATHER NORMALIZED

58	Residential	2,540		2,579		(39	)	13,252		13,215		36
59	Business	3,531		3,437		94		14,931		14,809		122
60	Total	6,071		6,016		55		28,183		28,025		158

	RETAIL USAGE (KWh/Average Customer)

61	Residential	2,610		2,639		(29	)	13,367		13,167		200
62	Business	27,988		27,654		334		118,421		117,092		1,329

	RETAIL USAGE - WEATHER NORMALIZED (KWh/Average Customer)

63	Residential	2,552		2,604		(53	)	13,328		13,349		(21	)
64	Business	27,911		27,443		468		118,509		118,171		338

	ELECTRICITY DEMAND (MW)

65	Native load peak demand	5,221		5,761		(541	)	7,087		6,936		151

	WEATHER INDICATORS - RESIDENTIAL

	Actual
66	Cooling degree-days	62		60		2		1,820		1,740		80
67	Heating degree-days	442		309		133		1,056		829		227
68	Average humidity	25	%	38	%	(13	)%	22	%	26	%	(4	)%

	10-Year Averages
69	Cooling degree-days	46		46		0	%	1,783		1,783		0	%
70	Heating degree-days	382		382		0	%	895		895		0	%
71	Average humidity	36	%	36	%	0	%	26	%	26	%	0	%

See Glossary of Terms.

Last Updated 2/24/2012

Pinnacle West Capital Corporation

Quarterly Consolidated Statistical Summary

Periods Ended December 31, 2011 and 2010

		3 Months Ended December						12 Months Ended December
Line		2011		2010		Incr (Decr)		2011		2010		Incr (Decr)

	ENERGY SOURCES (GWH)

	Generation production
72	Nuclear	2,041		2,169		(128	)	9,102		9,079		23
73	Coal	2,929		3,160		(231	)	12,248		12,383		(135	)
74	Gas, oil and other	1,675		1,314		361		5,705		5,366		339
75	Total generation production	6,644		6,643		1		27,055		26,828		227
	Purchased power
76	Firm load	576		611		(35	)	5,419		5,429		(10	)
77	Marketing and trading	79		206		(127	)	933		1,531		(598	)
78	Total purchased power	655		817		(162	)	6,352		6,960		(608	)
79	Total energy sources	7,299		7,460		(161	)	33,407		33,788		(381	)


	POWER PLANT PERFORMANCE

	Capacity Factors
80	Nuclear	81	%	86	%	(5	)%	91	%	91	%	(0	)%
81	Coal	76	%	82	%	(6	)%	80	%	81	%	(1	)%
82	Gas, oil and other	22	%	18	%	4	%	19	%	18	%	1	%
83	System average	48	%	48	%	(0	)%	49	%	49	%	0	%


	ECONOMIC INDICATORS

	Building Permits - Metro Phoenix (a)
84	Single-family	1,348		904		444		6,273		5,613		660
85	Multi-family	818		164		654		2,462		755		1,707
86	Total	2,166		1,068		1,098		8,735		6,368		2,367

	Arizona Job Growth (b)
87	Payroll job growth (% over prior year)	1.9	%	(0.4	)%	2.2	%	0.9	%	(2.1	)%	3.0	%
88	Unemployment rate (%, seasonally adjusted)	8.8	%	9.7	%	(0.9	)%	9.2	%	9.9	%	(0.7	)%

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.

Pinnacle West Capital (PNW) 8-KPinnacle West Reports 2011 Fourth-quarter