The company said its subsidiary APS filed an application for a base rate increase with the Arizona Corporation Commission on June 13, 2025. It said the requested net base rate increase is $579.52 million (13.99% net increase).

8-KRegulation FD DisclosureFiled Jun 13, 2025Period of report Jun 13, 2025Summary published (UTC) Oct 14, 2026

Key points

AI summary

The company said its subsidiary APS filed an application for a base rate increase with the Arizona Corporation Commission on June 13, 2025. It said the requested net base rate increase is $579.52 million (13.99% net increase).
The company said the requested net increase is offset by proposed adjustor transfers of cost recovery to base rates against a total base revenue deficiency of $662.44 million, and it put the original cost rate base at $21.6 billion.
The company proposed a capital structure of 47.65% long-term debt (cost of 4.26%) and 52.35% common stock equity (cost of 10.7%). It said the weighted-average cost of capital is 7.63%.
APS requested that the increase take effect in the second half of 2026, the company said, and it cannot predict when the ACC will decide the request. The company also said the press release shows the net monthly bill impact for a typical residential customer using 1,000 kilowatt-hours would be about $20.

Summary

AI-written

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.

2025 Rate Case Requested Amount

The company said its subsidiary APS filed an application for a base rate increase with the Arizona Corporation Commission on June 13, 2025. It said the requested net base rate increase is $579.52 million (13.99% net increase).

Source · Based on the filing body and exhibits

Total Base Revenue Deficiency and Rate Base

The company said the requested net increase is offset by proposed adjustor transfers of cost recovery to base rates against a total base revenue deficiency of $662.44 million, and it put the original cost rate base at $21.6 billion.

Source · Based on the filing body and exhibits

Proposed Capital Structure and Cost of Capital

The company proposed a capital structure of 47.65% long-term debt (cost of 4.26%) and 52.35% common stock equity (cost of 10.7%). It said the weighted-average cost of capital is 7.63%.

Source · Based on the filing body and exhibits

Effective Timing and Residential Bill Impact

APS requested that the increase take effect in the second half of 2026, the company said, and it cannot predict when the ACC will decide the request. The company also said the press release shows the net monthly bill impact for a typical residential customer using 1,000 kilowatt-hours would be about $20.

Source · Based on the filing body and exhibits

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.

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