SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 1, 1998
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ARIZONA PUBLIC SERVICE COMPANY
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(Exact name of registrant as specified in its charter)
Arizona 1-4473 86-0011170
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification Number)
400 North Fifth Street, P.O. Box 53999, Phoenix, Arizona 85004
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(Address of principal executive offices) (Zip code)
(602) 250-1000
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(Registrant's telephone number, including area code)
NONE
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
As previously reported, on November 4, 1998, Arizona Public Service Company
(the "Company") and the Staff of the Arizona Corporation Commission (the "ACC")
entered into a proposed settlement agreement related to the implementation of
retail electric competition. See Note 5 of Notes to Condensed Financial
Statements in the Company's Quarterly Report on Form 10-Q for the Fiscal Quarter
ended September 30, 1998. Hearings for the ACC's consideration or approval of
the settlement agreement were scheduled to begin on December 3, 1998. On
December 1, 1998, the Arizona Supreme Court issued an order staying the ACC
hearings. The Arizona Supreme Court's stay is preparatory to consideration by
the full Court of whether the ACC provided sufficient notice of the hearings to
interested parties. The Court will hear oral arguments on this matter on January
14, 1999. The Court's decision may delay the introduction of competition
scheduled for January 1, 1999. The proposed settlement agreement has expired by
its terms and whether it will be extended is yet to be determined. The Company
cannot currently predict the outcome of this matter.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ARIZONA PUBLIC SERVICE COMPANY
(Registrant)
Dated: December 2, 1998 By: Michael V. Palmeri
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Michael V. Palmeri
Treasurer