Pinnacle West Capital Corp.'s(PNW) principal subsidiary APS said that Arizona Corporation Commission approved settlement agreement signed by Arizona Public Service Company and 21 other parties to the Company's retail rate case.
APS said that the Commissioners approved the agreement with modifications and obligations for APS that will not materially affect the overall economic terms of the settlement. Additionally, the Commission approved new energy efficiency programs for APS that will allow customers more opportunities to manage electric bills.
APS said that this approval provides rate stability through an agreement by APS not to increase base rates for the next two-and-a-half years. The agreement brings broad benefits to Arizona with only a modest price increase for the average residential customer.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.