Utilities
Pinnacle West's Q2 FY2026 results highlight robust customer demand in Arizona offset by cost pressures and a pending $579.5 million rate request that will shape future profitability.
Key risk: Adverse Regulatory Outcome in Pending Rate Case
The ACC may approve a lower rate increase or ROE than requested, or may reject the proposed FRAM, which would prolong regulatory lag and pressure earnings. Intervenors have recommended a return on equity as low as 9.00%, well below APS's 10.70% request.
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