APS Parent Company Reports Increase in Profits While Arizonans Experience Ever Increasing Utility Bills

PHOENIX, AZ - Today during its fourth quarter financial results conference call, Pinnacle West Capital Corporation, parent company of utility Arizona Public Service (APS), reported an increase in its annual profits. The results are in sharp contrast to what Arizonans and APS customers are experiencing - spiked utility bills, and degraded air quality, all while Pinnacle West reported $617 million in profits in 2025. In the call, Pinnacle West also reported $423 million in dividends to shareholders.

APS has already significantly raised rates twice since 2022, and is now seeking to raise rates by an additional 14% in 2026. For the average customer, that could look like up to $240 more per year. Arizonans are already struggling to afford utility bills, with an estimated 161,000 familiesand counting behind on payments. APS is also a monopoly utility, and its 1.4 million residential and business customers aren't able to switch to a more cost-effective alternative.

"Pinnacle West's reported profits increase is directly at odds with what community members are experiencing," said Sandy Bahr, director for Sierra Club Grand Canyon Chapter. "Arizonans are being stretched thin to accommodate corporate greed. While so many struggle to make ends meet, wealthy shareholders line their pockets and enable fossil projects that worsen air quality and contribute to the climate crisis. Arizonans are being forced to pay more and contrary to our own interests. Today's earnings statement serves as a reminder that our communities deserve more than higher bills and dirtier air."

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About the Sierra Club

The Sierra Club is America's largest and most influential grassroots environmental organization, with millions of members and supporters. In addition to protecting every person's right to get outdoors and access the healing power of nature, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit https://www.sierraclub.org.