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): January 8, 2004
PINNACLE WEST CAPITAL CORPORATION
(Exact name of registrant as specified in its charter)
Arizona 1-8962 86-0512431
--------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification Number)
400 North Fifth Street, P.O. Box 53999, Phoenix, Arizona 85072-3999
-------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(602) 250-1000
---------------------------------------
(Registrant's telephone number, including area code)
NONE
------------------------------------ -----
(Former name or former address, if changed since last report)
ITEM 5. STATE REGULATORY MATTERS
On June 27, 2003, Arizona Public Service Company ("APS") filed a
general rate case with the Arizona Corporation Commission ("ACC") and in August
2003 the ACC set April 7, 2004 as the date for the hearing on the rate case to
begin. On December 19, 2003, an intervenor in the rate case representing certain
merchant generators filed a motion requesting that the ACC (i) require APS to
expand its pending request for proposals ("RFP") for long-term power supply
resources to 2200 megawatts and (ii) delay the rate case hearing for four months
to permit the results of the expanded RFP to be considered in the rate case or,
in the alternative, bifurcate the rate case to separately consider issues
regarding Pinnacle West Energy Corporation assets. APS issued the RFP in early
December 2003 for the purchase of at least 500 megawatts of long-term power
supply resources for delivery beginning June 1, 2007 to be used for APS'
anticipated retail load.
On January 8, 2004, an ACC administrative law judge ("ALJ") issued a
procedural order (the "Procedural Order") (i) revising the schedule for APS'
pending general rate case to delay the hearing and other aspects of the
procedural schedule by about three weeks, and (ii) requiring APS to provide
certain information to potential bidders and to extend the bid response deadline
by one week, but not to change the amount of resources requested in the RFP. The
hearing is currently scheduled to begin on April 26, 2004. A copy of the
Procedural Order is attached hereto as Exhibit 99.1.
Based on the revised schedule and existing ACC regulations, the ACC
will be able to make a decision in this general rate case in 2004. For
additional information regarding the rate case, see "APS General Rate Case and
Retail Rate Adjustment Mechanisms" in Note 5 of Notes to Condensed Consolidated
Financial Statements in Pinnacle West Capital Corporation's Quarterly Report on
Form 10-Q for the fiscal quarter ended September 30, 2003.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits.
Exhibit
No. Description
--- -----------
99.1 ACC Procedural Order dated January 8, 2004
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.
PINNACLE WEST CAPITAL CORPORATION
(Registrant)
Dated: January 9, 2004 By:/s/ Barbara M. Gomez
-----------------------------
Barbara M. Gomez
Treasurer
2