Last Updated

5/2/2014

3 Months Ended March 31,

Line

2014

2013

Incr (Decr)

EARNINGS CONTRIBUTION BY SUBSIDIARY
(Dollars in Millions)

1

Arizona Public Service

  $

28 

  $

33 

  $

(5

)

2

Parent Company

(3)

(1)

(2

)

3

Net Income

25 

32 

(7

)

4

Less: Net Income Attributable to Noncontrolling Interests

9 

8 

1

5

Net Income Attributable to Common Shareholders

  $

16 

  $

24 

  $

(8

)

EARNINGS PER SHARE BY SUBSIDIARY - DILUTED

6

Arizona Public Service

  $

0.26 

  $

0.31 

  $

(0.05

)

7

Parent Company

(0.04)

(0.01)

(0.03

)

8

Net Income

0.22 

0.30 

(0.08

)

9

Less: Net Income Attributable to Noncontrolling Interests

0.08 

0.08 

-

10

Net Income Attributable to Common Shareholders

  $

0.14 

  $

0.22 

  $

(0.08

)

11

BOOK VALUE PER SHARE

  $

38.27 

  $

36.51 

  $

1.76

COMMON SHARES OUTSTANDING (Thousands)

12

Average - Diluted

110,888 

110,835 

53

13

End of Period

110,354 

109,946 

408

See Glossary of Terms

Page 1 of 4

Last Updated

5/2/2014

3 Months Ended March 31,

Line

2014

2013

Incr (Decr)

ELECTRIC OPERATING REVENUES
(Dollars in Millions)

Retail

14

Residential

  $

282

  $

307

  $

(25

)

15

Business

329

329

-

16

Total retail

611

636

(25

)

Wholesale revenue on delivered electricity

17

Traditional contracts

11

11

-

18

Off-system sales

49

23

26

19

Native load hedge liquidation

-

1

(1

)

20

Total wholesale

60

35

25

21

Transmission for others

8

7

1

22

Other miscellaneous services

7

8

(1

)

23

Total electric operating revenues

  $

686

  $

686

  $

-

ELECTRIC SALES (GWH)

Retail sales

24

Residential

2,383

2,730

(347

)

25

Business

3,229

3,271

(42

)

26

Total retail

5,612

6,001

(389

)

Wholesale electricity delivered

27

Traditional contracts

144

130

14

28

Off-system sales

1,106

816

290

29

Retail load hedge management

-

31

(31

)

30

Total wholesale

1,250

977

273

31

Total electric sales

6,862

6,978

(116

)

See Glossary of Terms

Page 2 of 4

Last Updated

5/2/2014

3 Months Ended March 31,

Line

2014

2013

Incr (Decr)

AVERAGE ELECTRIC CUSTOMERS

Retail customers

32

Residential

1,036,013  

1,021,817  

14,196  

33

Business

128,833  

127,895  

938  

34

Total retail

1,164,846  

1,149,712  

15,134  

35

Wholesale customers

57  

53  

4  

36

Total customers

1,164,903  

1,149,765  

15,138  

37

Total customer growth (% over prior year)

1.3%

1.4%

(0.1)%

RETAIL SALES (GWH) - WEATHER NORMALIZED

38

Residential

2,610  

2,566  

44  

39

Business

3,219  

3,227  

(8) 

40

Total

5,829  

5,793  

36  

41

Retail Sales (GWH) (% over prior year)

0.6%

0.4%  

0.2%

RETAIL USAGE
(KWh/Average Customer)

42

Residential

2,300  

2,672  

(372) 

43

Business

25,064  

25,577  

(513) 

RETAIL USAGE - WEATHER NORMALIZED
(KWh/Average Customer)

44

Residential

2,519  

2,511  

8  

45

Business

24,986  

25,236  

(250) 

ELECTRICITY DEMAND (MW)

46

Native load peak demand

3,917  

4,825  

(908) 

WEATHER INDICATORS - RESIDENTIAL

Actual

47

Cooling degree-days

-  

-  

-  

48

Heating degree-days

239  

613  

(374) 

49

Average humidity

-  

-  

-  

10-Year Averages

50

Cooling degree-days

-  

-  

-  

51

Heating degree-days

489  

489  

-  

52

Average humidity

-  

-  

-  

See Glossary of Terms

Page 3 of 4

Last Updated

5/2/2014

3 Months Ended March 31,

Line

2014

2013

Incr (Decr)

ENERGY SOURCES (GWH)

Generation production

53

Nuclear

2,511

2,456

55  

54

Coal

2,796

2,753

43  

55

Gas, oil and other

1,055

1,250

(195) 

56

Total generation production

6,362

6,459

(97) 

Purchased power

57

Firm load

857

692

165  

58

Marketing and trading

113

113

-  

59

Total purchased power

969

805

164  

60

Total energy sources

7,331

7,264

67  

POWER PLANT PERFORMANCE

Capacity Factors

61

Nuclear

101%

99%

2%

62

Coal

74%

73%

1%

63

Gas, oil and other

14%

16%

(2)%

64

System average

46%

47%

(1)%

ECONOMIC INDICATORS

Building Permits (a)

65

Metro Phoenix

5,413

3,276

2,137  

Arizona Job Growth (b)

66

Payroll job growth (% over prior year)

2.0%

2.2%

(0.2)%

67

Unemployment rate (%, seasonally adjusted)

7.4%

8.0%

(0.6)%

See Glossary of Terms

Page 4 of 4