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Arizona Public Service Company is the largest electric utility in Arizona, USA and the principal subsidiary of publicly traded S&P 500 member Pinnacle West Capital Corporation (), which in turn had been formerly named AZP Group, when Arizona Public Service reorganized as that holding company in 1985. With 4,000 MW of generating capacity, APS serves more than one million customers in 11 counties throughout most of the state, but mainly concentrated in northern and central Arizona.〔(Pinnacle West: The Peak of the Energy Pyramid ), SeekingAlpha.com, By Ted Allrich, posted on: November 20, 2006〕 APS is one of the two major suppliers of electricity to the Phoenix metropolitan area (the other being Salt River Project). APS is regulated by the Arizona Corporation Commission (ACC), the state agency that, by mandate of (Article 15, Section 2 ) of the state's constitution, regulates energy utilities in Arizona, with the notable exception of SRP and the rural electrical districts. The holding company, Pinnacle West Capital, through its APS utility sells wholesale and retail power to the wider western United States and also provides energy-related services. Through another major subsidiary, Pinnacle West also developed and manages real estate in Arizona.〔 Pinnacle West left the real estate business in 2010. The utility company also operates three nuclear reactors. Its Palo Verde Nuclear Generating Station in Arizona, the largest nuclear plant in the U.S., came under scrutiny by the Nuclear Regulatory Commission in 2005 when operational problems began to cause prolonged outages.〔 ==History== In 1884, the Phoenix Light and Fuel Company was formed to provide electricity and heat to the people of the three-year-old town of Phoenix. It changed its name to Pacific Gas and Electric in 1906 and to Central Arizona Light and Power in 1920. Also in 1920, it paid a dividend, and continued the annual dividend without interruption for the next 69 years. The company became a subsidiary of the giant conglomerate American Power and Light in 1925, but became an independent company once again in 1945. In 1949, it merged with Northern Arizona Power and Light. In 1952, it merged with Arizona Edison and changed its name to Arizona Public Service. The stock doubled in price through the long bear market of the 1970s, while paying a 10% dividend yield. By then it had become an electric and natural gas utility fueled 94.4% by coal plants, 5.2% by natural gas, and 0.4% by oil. The company traded its common stock on the New York Stock Exchange, and in 1976, the company issued a preferred stock (formerly ) with a 10.5% dividend, callable in 1990.〔Standard & Poor's Stock Guide, various issues〕 APS also performed well through the early 1980s recession, reaching peak earnings of over US$255 million in 1983. However, by then the company had accumulated over US$2.1 billion in long-term debt.〔 In 1982, APS issued another preferred stock (formerly ) with an 11.9% dividend, callable in 1987. And in 1983, it issued a third preferred stock (formerly ) paying an adjustable rate between 6 and 12%, through 1986.〔 1984 was a down year for both earnings and the stock price, which at its low that year had lost almost half its value from the 1983 peak.〔 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Arizona Public Service」の詳細全文を読む スポンサード リンク
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