UNITED STATES
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):    November 6, 2018

	
			
Commission File Number	Exact Name of Registrant as Specified in Charter; State of Incorporation;
Address and Telephone Number	IRS Employer
Identification Number	
 	 	 	
1-8962	Pinnacle West Capital Corporation
(an Arizona corporation)
400 North Fifth Street, P.O. Box 53999
Phoenix, AZ 85072-3999
(602) 250-1000	86-0512431	
 	 	 	
1-4473	Arizona Public Service Company
(an Arizona corporation)
400 North Fifth Street, P.O. Box 53999
Phoenix, AZ 85072-3999
(602) 250-1000	86-0011170	

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

This combined Form 8-K is separately filed or furnished by Pinnacle West Capital Corporation and Arizona Public Service Company. Each registrant is filing or furnishing on its own behalf all of the information contained in this Form 8-K that relates to such registrant and, where required, its subsidiaries. Except as stated in the preceding sentence, neither registrant is filing or furnishing any information that does not relate to such registrant, and therefore makes no representation as to any such information.

Item 7.01    Regulation FD Disclosure.
        
On November 6, 2018, Arizona Public Service Company (“APS”) issued a press release related to the results of Proposition 127, a ballot initiative for an Arizona constitutional amendment that would have required Arizona public service corporations to provide at least 50% of their annual retail sales of electricity from renewable sources by 2030.  A copy of the press release is attached hereto as Exhibit 99.1.

Item 9.01    Financial Statements and Exhibits.

(d)    Exhibits

	
			
Exhibit No.	Registrant(s)	Description	
 	 	 	
99.1	Pinnacle West Capital Corporation
APS	APS Press Release Regarding the Results of Proposition 127	

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	
			
 	 	PINNACLE WEST CAPITAL CORPORATION	
 	 	(Registrant)	
 	 	 	
Dated: November 7, 2018	 	By: /s/ James R. Hatfield            	
 	 	James R. Hatfield	
 	 	Executive Vice President and	
 	 	Chief Financial Officer	
 	 	 	
 	 	ARIZONA PUBLIC SERVICE COMPANY	
 	 	(Registrant)	
 	 	 	
Dated: November 7, 2018	 	By: /s/ James R. Hatfield            	
 	 	James R. Hatfield	
 	 	Executive Vice President and	
 	 	Chief Financial Officer	

	
					
FOR IMMEDIATE RELEASE	    November 6, 2018	
Media Contact:	Jenna Rowell	(602) 250-3379	    Page 1 of 1	
Analyst Contact:	Stefanie Layton	(602) 250-4541	 	
Website:	aps.com/newsroom	 	

APS RESPONDS TO VOTERS’ DEFEAT OF ARIZONA PROPOSITION 127
    
PHOENIX – Arizona voters today overwhelmingly rejected Proposition 127, a constitutional amendment that would have required 50 percent of the electricity provided by APS to come from renewable sources by 2030, irrespective of the cost to customers. The ill-conceived proposition was opposed by a large, diverse and bipartisan coalition of Arizona business and community leaders. 
 
“We've said throughout this campaign there is a better way to create a clean-energy future for Arizona that is also affordable and reliable," said APS Chairman, President and CEO Don Brandt.

Brandt said APS is launching an effort to gather ideas and seek input from customers and stakeholders representing diverse viewpoints. “The campaign is over, but we want to continue the conversation with Arizonans about clean energy and identify specific opportunities for APS to build energy infrastructure that will position Arizona for the future.”

Brandt noted that Maricopa County is the fastest-growing in the United States, and cited estimates that 340,000 new customers will move into the APS service territory by 2030. APS customer energy needs are expected to increase by more than 30 percent over that time period. “We will need significant investment in new resources including infrastructure, cleaner power generation and advanced energy technologies to support this growth and achieve a clean-energy future,” said Brandt.

Brandt said APS supports a clean-energy strategy that:

•	Continues Arizona's solar leadership;	

•	Invests in battery storage and other advanced, clean technologies;	

•	Encourages electric vehicles as a way to reduce emissions;	

•	Partners with customers to achieve their clean-energy goals; and	

•	Recognizes the critical importance of Palo Verde Generating Station.	

“As the nation’s largest producer of reliable emission-free energy, Palo Verde is the anchor of Arizona's clean-energy future,” said Brandt. “Any serious plan to reduce carbon emissions has to include nuclear energy and Palo Verde.”

“Our energy mix is already 50 percent clean, and the addition of battery storage technology on our existing solar facilities together with other initiatives, like increased infrastructure investment to support electric vehicles, will continue to advance our clean-energy vision,” said Brandt. “We’ll keep working in partnership with customers and policy makers to sustainably support Arizona’s growth.”

APS serves about 2.7 million people in 11 of Arizona’s 15 counties, and is the Southwest’s foremost producer of clean, safe and reliable electricity. With headquarters in Phoenix, APS is the principal subsidiary of Pinnacle West Capital Corp. (NYSE: PNW).
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