The company said large commercial and industrial (C&I) customers account for 3% to -5% of the 4% to -6% long-term weather-normalized sales growth outlook. It said the outlook range covers growth through 2027.

1. 01

   The company said large commercial and industrial (C&I) customers account for 3% to -5% of the 4% to -6% long-term weather-normalized sales growth outlook. It said the outlook range covers growth through 2027.

2. 02

   The company said its 2024-2027 capital expenditure plan totals $9.66B, compared with $7.80B for the prior 2023-2026 plan. Annual totals are $2.06B for 2024, $2.40B for 2025, $2.55B for 2026 and $2.65B for 2027.

3. 03

   The company put total capital investment for 2025-2027 at about $7.6B. Its funding plan includes cash from operations of about $3.6B, net of shareholder dividends, APS debt of $2.5B to $2.7B, PNW debt of $500M to 700M, and PNW equity of $700 to 900M. The company said debt issuance is net of maturities.

4. 04

   The company gave an O&M outlook for 2025 (in millions) of $910 to $920 and said 2024 was $955. Within the 2025 outlook, RES/DSM is $150 to $160 and planned outages are $55 to $65. It said the final planned major outage will be at Four Corners Unit 4.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.