Pinnacle West Capital Corporation - PNW STOCK NEWS

Arizona Public Service Co. (APS) is expanding its solar energy initiatives by adding an all-source request for proposals (RFP), originally issued in December 2020. The new addendum aims to procure an additional 100-150 MW of photovoltaic solar capacity on APS-owned land, contributing to the company's goal for a carbon-free power mix by 2050. APS plans to obtain 600-800 MW of renewable resources and 400-600 MW of capacity resources, with proposals expected to be operational in 2023 and 2024. The RFP process will be monitored by a third-party independent entity.

Pinnacle West Capital Corporation (NYSE: PNW) announced a quarterly dividend of $0.83 per share, payable on June 1, 2021, to shareholders of record as of May 3, 2021. The company also plans to release its 2021 first-quarter results on May 5, 2021, before market opening. A live webcast and conference call will be held that day at noon ET to discuss results and recent developments. Pinnacle West, based in Phoenix, has approximately $20 billion in assets and provides retail electricity to over 1.3 million customers in Arizona.

Pinnacle West Capital Corp. (NYSE: PNW) is set to announce its 2021 first-quarter financial results on May 5, 2021, before U.S. markets open. A live webcast and conference call will follow the announcement at noon ET to discuss the results and recent developments. The company, based in Phoenix, has approximately $20 billion in consolidated assets, around 6,300 megawatts of generating capacity, and services over 1.3 million Arizona homes and businesses through its subsidiary, Arizona Public Service.

Arizona Public Service Co. (APS) announced an agreement among owners of the Four Corners Power Plant to initiate seasonal operations starting fall 2023, pending approvals. This move coincides with PNM's planned transfer of ownership to NTEC in 2024. Seasonal operations are projected to cut annual carbon emissions by 20-25%, aiding APS's goal of achieving 100% clean energy by 2050. The plant will operate one unit from June to October, meeting high seasonal demand, while the second unit operates year-round. There will be no layoffs as part of this transition.

Pinnacle West Capital Corp. (NYSE: PNW) has appointed William H. Spence to its board of directors, effective February 26, 2021. Spence, the former Chairman of PPL Corp., brings extensive leadership experience from a Fortune 200 company and a solid background in the energy sector. His expertise in regulatory strategy and customer experience is expected to benefit Pinnacle West and its main subsidiary, Arizona Public Service, which serves over 1.3 million customers. Spence's substantial public board experience and educational credentials will provide strategic insights moving forward.

Pinnacle West Capital Corp. (NYSE: PNW) reported a consolidated net income of $550.6 million, or $4.87 per diluted share for the full year 2020, up from $538.3 million or $4.77 in 2019. The growth was largely driven by $94 million in after-tax revenues due to weather impacts. Customer growth reached 2.3%, with peak electricity demand increasing 7.7%. However, the company reported a $19.4 million net loss for Q4 2020 due to operational expenses and a settlement. APS aims for 100% clean energy by 2050, reinforcing customer commitment through various support measures amid the pandemic.

Pinnacle West Capital Corp. (NYSE: PNW) will release its 2020 fourth-quarter and full-year financial results on February 24, 2021, before U.S. markets open. A live webcast and conference call will be held the same day at 11 a.m. ET to discuss these results and recent developments. Pinnacle West, based in Phoenix, has consolidated assets of approximately $20 billion and provides retail electricity to nearly 1.3 million customers through its subsidiary, Arizona Public Service.

Pinnacle West Capital Corporation (NYSE: PNW) has declared a quarterly dividend of $0.83 per share, payable on March 1, 2021, to shareholders on record as of February 1, 2021. The company, based in Phoenix, boasts consolidated assets of approximately $20 billion and a generating capacity of about 6,300 megawatts. Its principal subsidiary, Arizona Public Service, serves nearly 1.3 million retail electricity customers in Arizona.

Arizona Public Service Company (APS) is advancing its clean energy efforts with two new requests for proposals (RFPs) aimed at acquiring renewable energy and enhancing battery energy storage. The RFPs seek to add approximately 300-400 MW of renewable energy and 60 MW of battery capacity at existing solar plants. APS, committed to achieving 100% clean energy by 2050, aims for 45% of its generation portfolio to be renewable by 2030. This strategy supports the growing energy needs of its 1.3 million customers across Arizona.