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aps
PUBLIC NOTICE OF AN APPLICATION FOR AN ORDER AUTHORIZING ARIZONA PUBLIC SERVICE COMPANY TO ISSUE, INCUR, AND AMEND EVIDENCES OF LONG-TERM INDEBTEDNESS, AND SHORT-TERM INDEBTEDNESS, TO EXECUTE NEW SECURITY INSTRUMENTS TO SECURE ANY SUCH INDEBTEDNESS, AND FOR DECLARATORY ORDER CONCERNING VARIABLE INTEREST ENTITIES DOCKET NO. E-01345A-24-0089
Arizona Public Service Company (Company or APS) filed an Application with the Arizona Corporation Commission (Commission) seeking one or more orders that, together, will authorize the Company to increase and sustain its ability to incur long-term debt and provide additional flexibility for APS to receive infusions of equity from its parent company, Pinnacle West Capital Corporation (PNW). With respect to Continuing Long-Term Debt limits, the Company is requesting an increase from $8.0 billion up to $9.5 billion. The long-term debt authorization is essential to the Company’s ability to meet its capital spending needs and provides operating flexibility in today’s challenging market conditions. The Company also seeks continuing authority for the ongoing issuance, sale, or incurrence of Continuing Short-Term Debt as long as its total does not exceed the sum of 7% of the Company’s capitalization plus $500 million. In addition, the Company requests that the Commission provide an annual recurring authorization to infuse equity from PNW as provided in the Application. This is necessary in order to maintain a balanced capital structure as the Company finances critical investments needed to provide reliable service while the Company’s service territory experiences tremendous growth. The application is available for public inspection on the Internet via the Commission’s website (www.azcc.gov) using the e-Docket function in Docket No. E-01345A-24-0089 and via the Company’s website (www.aps.com).
An interested person may participate in this matter by: (1) providing written public comment, or (2) filing for intervention and becoming a formal party to the proceeding. Written public comments must refer to Docket No. E-01345A-24-0089 and may be submitted at any time as follows:
By Mail:
Arizona Corporation Commission
Consumer Services Section
1200 West Washington Street
Phoenix, AZ 85007
On the Website: www.azcc.gov by clicking on “Cases and Open Meetings” and then clicking “Make a Public Comment in a Docket.” Intervention in the Commission’s proceedings on the Application shall be permitted to any person entitled by law to intervene and having a direct substantial interest in this matter. Persons desiring to intervene must file a Motion to Intervene with the Commission which must be served upon the Applicant and each party of record on the service list, which can be found in the Docket for the case and which, at a minimum, shall contain the following information:
- The name, address, and telephone number of the proposed intervenor and of any person upon whom service of documents is to be made if different than the intervenor.
- A short statement of the proposed intervenor’s interest in the proceeding.
- Whether the proposed intervenor desires a formal evidentiary hearing on the application and the reason for such a hearing.
- A statement certifying that a copy of the Motion to Intervene has been mailed to the Applicants.
- If the proposed intervenor is not represented by an attorney who is an active member of the Arizona State Bar and is not representing himself or herself as an individual, sufficient information and any appropriate documentation to demonstrate compliance with Arizona Supreme Court Rules 31, 38, 39, and 42, as applicable.
The granting of Motions to Intervene shall be governed by A.A.C. R14-3-105, except that all Motions to Intervene must be filed within 15 days after the date of this notice. Information about what intervention means, including an explanation of the rights and responsibilities of an intervenor, is available on the Commission’s website (www.azcc.gov) by clicking on “Cases and Open Meetings” and then clicking on “Intervene in a Case.” The information includes a Sample Intervention Request and a Fillable Intervention Request Form
