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FORM 3            U.S. SECURITIES AND EXCHANGE COMMISSION
------                     Washington, D.C. 20549	

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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

   Levine              James                 M.
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  (Last)               (First)            (Middle)

   400 North 5th Street
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                  (Street)

   Phoenix                 AZ               85004
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   (City)               (State)             (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
3-22-2000

3. IRS or Social Security Number of Reporting Person (Voluntary)

4. Issuer Name and Ticker or Trading Symbol

Pinnacle West Capital Corporation (PNW)

5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
Executive Vice President, APS Generation

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

FORM 3 (continued)

Table I -- Non-Derivative Securities Beneficially Owned

                                      3. Ownership Form:
1. Title of  2. Amount of Securities     Direct (D) or   4. Nature of Indirect
   Security     Beneficially Owned       Indirect (I)      Beneficial Ownership
  (Instr. 4)        (Instr. 4)           (Instr. 5)             (Instr.5)
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  Common Stock        23,064                  D
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  Common Stock         2,784                  I             by 401(k)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
(Print or Type Responses)
Table II -- Derivative Securities Beneficially Owned
 (e.g., puts, calls, warrants, options, convertible securities)

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                                           3. Title and Amount                 5. Owner-
                                          of Securities Underlying                 ship
                                            Derivative Security                   Form of
                     2. Date Exercisable        (Instr. 4)                      Derivative
                      and Expiration Date  ----------------------- 4. Conver-    Security:
                       (Month/Day/Year)                   Amount      sion or     Direct    6. Nature of
1. Title of          --------------------                   or        Exercise    (D) or       Indirect
 Derivative           Date      Expira-                   Number      Price of   Indirect      Beneficial
  Security            Exer-     tion                        of        Derivative   (I)         Ownership
 (Instr. 4)          cisable    Date         Title        Shares      Security   (Instr.5)     (Instr. 5)
- ---------------------------------------------------------------------------------------------------------
Employee Stock Option
(Right to Buy)         (1)     11/15/05   Common Stock    6,000       $27.44        D
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Employee Stock Option
(Right to Buy)         (2)     11/20/06   Common Stock    6,000       $31.44        D
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Employee Stock Option
(Right to Buy)         (3)     12/17/07   Common Stock    5,500       $39.75        D
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Employee Stock Option
(Right to Buy)         (4)     11/18/08   Common Stock    5,500       $46.78        D
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Employee Stock Option
(Right to Buy)         (5)     11/17/09   Common Stock   10,000       $34.6562      D
===========================================================================================================	

Explanation of Responses:
(1) The option became exercisable 1/3 of the grant per year commencing 11-15-96.
(2) The option became exercisable 1/3 of the grant per year commencing 11-20-97.
(3) The grant became exercisable 1/3 of the grant per year commencing 12-17-98.
(4) The grant became exercisable 1/3 of the grant per year commencing 11-18-99.
(5) The grant becomes exercisable 1/3 of the grant per year commencing 11-17-00.

James M. Levine                                                 3-31-2000
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James M. Levine                                                    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 provided is insufficient. See Instruction 6 for procedure.