FORM 5 OMB APPROVAL
 [ ] Check this box if no longer OMB Number 3235-0362
subject to Section 16. Form 4 Expires: December 31, 2001
or Form 5 obligations may continue. Estimated average burden
See Instruction 1(b). hours per response.............. 1.0
[ ] Form 3 Holdings Reported -------------------------------------
[ ] Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person*

    Jamieson       William        S., Jr.
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    (Last)         (First)       (Middle)

    15 Macon Ave
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    (Street)

    Asheville       NC            28801
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    (City         (State)         (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Pinnacle West Capital Corporation (PNW)

3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)

4. Statement for Month/Year

12/31/00

5. If Amendment, Date of Original
(Month/Year)

6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[X] Director [ ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)

7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person

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                    TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1.Title of Security  2.Trans-  3.Trans-   4.Securities Acquired (A)   5.Amount of        6.Owner-    7.Nature of
  (Instr. 3)           action    action     or Disposed of (D)          Securities Ben-    ship        Indirect
                       Date      Code       (Instr. 3, 4 and 5)         eficially Owned    Form: Di-   Beneficial
                       (Month/   (Instr.8)  ------------------------    at end of          rect (D)    Ownership
                       Day/                           (A) or            Issuer's Fiscal    or Indi-    (Instr. 4)
                       Year)                Amount    (D)      Price    Year (Instr. 3     rect (I)
                                                                        and 4)             (Instr. 4)
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Common Stock           1/25/01       A      1,590        A                 5,990               D
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* If the form is filed by more than one reporting person, see Instruction
4(b)(v).  Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently valid OMB Number.
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          Table II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
                 (e.g., puts, calls, warrants, options, convertible securities)
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1.Title of Derivative    2.Conver-    3.Trans-   4.Transac-  5.Number of Derivative    6.Date Exercis-
  Security (Instr. 3)      sion or      action     tion        Securities Acquired       able and Expi-
                           Exercise     Date       Code        (A) or Disposed of        ration Date
                           Price of     (Month/    (Instr.8)   (D) (Instr. 3,4, and 5)   (Month/Day/Year)
                           Derivative   Day/Year)               -------------------    --------------------
                           Security                              (A)           (D)      Date        Expira-
                                                                                        Exer-       tion
                                                                                        cisable     Date
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N/A
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7.Title and Amount of       8. Price            9. Number           10. Ownership         11. Nature
  Underlying Securities        of Derivative       of Derivative        of Derivative         of Indirect
  (Instr. 3 and 4)             Security            Securities           Security:             Beneficial
 ----------------------        (Instr. 5)          Beneficially         Direct                Ownership
              Amount or                            Owned at             (D) or Indirect       (Instr.4)
              Number of                            End of Year          (I)(Instr.4)
 Title        Shares                               Year(Instr.4)
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Explanation of Responses:

   William S. Jamieson, Jr.              2/14/01
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   William S. Jamieson, Jr.                Date
**Signature of Reporting Person	

**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.