APS Returning More Money to Customers Thanks to Federal Tax Reform

Corporation Commissioners approve second reduction bringing total
savings to $200 million

PHOENIX–(BUSINESS WIRE)–With unanimous approval from the Arizona Corporation Commission today,
APS will pass $86 million more in federal tax reform savings on to
customers beginning in April. This is the second federal tax adjustment
since March 2018, and this portion of the savings will be returned to
customers throughout the next year.

For a customer using the average amount of electricity, the latest
reduction will be about $2.50 per month and will vary based on actual
usage, meaning larger users will see bigger savings. These savings
appear on monthly bills as a line item called the tax expense adjustor
mechanism.

One year ago, customers started seeing the first $119 million in savings
from these tax changes on their monthly bill, and with today’s ACC
decision, the total benefit will reach more than $200 million. Overall,
for the average-use customer, APS has lowered bills more than $12 per
month in the last year.

Now, as summer approaches, bringing with it higher electricity bills due
to greater energy usage, APS has launched 100 Days of Helping. This
initiative is designed to provide customers with information about ways
they can save on their bills, as well as resources available to those
who need it most.

“We always are looking for ways to keep electricity affordable, and one
way we can do that is by passing along these tax reform savings to
customers,” said Stacy
Derstine
, APS Vice President of Customer Service. “We also want to
ensure customers know about all the resources available to them and to
their friends, family and neighbors who may need extra support before
higher temperatures hit Arizona.”

For APS customers who qualify financially, resources include the APS
Energy Support Program, which provides a 25 percent discount on monthly
energy bills. For customers who just need temporary support due to a
sudden financial hardship like losing a job or facing an unexpected
medical expense, Crisis Bill Assistance provides up to $400 per year in
bill relief. More information about these programs and other helpful
tips to save money on monthly electricity bills can be found at aps.com/helping.

APS
serves about 2.7 million people in 11 of Arizona’s 15 counties, and is
the Southwest’s foremost producer of clean, safe and reliable
electricity. Using a balanced energy mix that is 50 percent carbon-free,
APS has one of the country’s cleanest energy portfolios, including both
Palo Verde Generating Station and renewable energy. The company is also
a proven leader in introducing technology and services that offer
customers choice and control over their energy consumption. With
headquarters in Phoenix, APS is the principal subsidiary of Pinnacle
West Capital Corp
. (NYSE: PNW).

Contacts

Suzanne Treviño, (602) 739-4955
APS Media Hotline, (602) 250-2277
aps.com/newsroom