Pinnacle West Capital Corporation

In 1985, Arizona Public Service Company formed a holding company named AZP Group Inc, becoming its leading subsidiary. This holding company changed its name to Pinnacle West Capital Corporation in 1987. Pinnacle West Capital Corporation is an electric utility holding company based in Phoenix, Arizona. Pinnacle West Capital Corporation has several subsidiaries that are engaged in retail and wholesale electricity businesses. It is also involved in related services such as the transmission of electricity, generation, and distribution. The two major subsidiaries of Pinnacle West Capital Corporation are Arizona Public Service Company and Bright Canyon Energy. The company employs over 6,000 individuals. In 1986, Pinnacle acquired MeraBank, a loan and savings bank. By 1990, the company’s earnings fell to under 100 million USD, but it recovered and restored profitability by 1992. In 1995, the company was added to the S & P MidCap 400 index. It is also a component of the S & P 500 index. Pinnacle West Capital Corporation provides nearly 1.3 million customers with clean energy and is a leader in providing Arizona, US with affordable and clean energy. Pinnacle’s subsidiary Arizona Public Service Company owns Palo Verde Generating System which is the largest nuclear plant in the US and the largest generator of carbon-free electricity in the US. Pinnacle West Capital Corporation shares trade on the NYSE under the ticker symbol “PNW.” The company is also a strong advocate of giving back to its community and regularly participates in non-profit activities. Employees volunteer all over the state, and they are mainly committed towards helping teachers. Also, they provide direct assistance to those people who are unable to pay their bills making donations that reach millions of dollars. The company has a goal to provide 100% clean energy by 2050. Global non-profit CDP recognised Pinnacle West's efforts in the domain of corporate responsibility and gave it a place on their ‘A-list’ for taking climate change head-on. Pinnacle West was among only four electric utility companies that achieved a double-A status out of 5,800+ businesses that were surveyed. It was recognised in the 2020 Forbes’ list of Global 2000. It also made it to the list of Forbes’ World’s Best Employers 2019.