##### 



Exhibit
99.6
  Pinnacle West Capital Corporation
 
Consolidated Statistics By Quarter
2003
 Increase(Decrease)Line
    
    
    
    
    1st Qtr
    
    
    2nd Qtr
    
    
    3rd Qtr
    
    
    4th Qtr
    
    
    Year-To-Date
    
    
    vs Prior YTDEARNINGS
CONTRIBUTION BY
SUBSIDIARY ($ Millions)1
    
    
    Arizona Public Service
    
    $
    16
    
    
    $
    43
    
    
    $
    100
    
    
    $
    21
    
    
    $
    181
    
    
    $
    (18
    )2
    
    
    Pinnacle West Energy
    
    
    4
    
    
    
    1
    
    
    
    2
    
    
    
    (15
    )
    
    
    (8
    )
    
    
    113
    
    
    APS Energy Services
    
    
    8
    
    
    
    5
    
    
    
    1
    
    
    
    3
    
    
    
    16
    
    
    
    (12
    )4
    
    
    SunCor
    
    
    1
    
    
    
    2
    
    
    
    6
    
    
    
    36
    
    
    
    46
    
    
    
    365
    
    
    El Dorado
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (1
    )
    
    
    46
    
    
    Parent Company
    
    
    (11
    )
    
    
    3
    
    
    
    
    
    
    
    
    
    
    
    (9
    )
    
    
    (32
    )7
    
    
    Income From Continuing Operations
    
    
    18
    
    
    
    54
    
    
    
    109
    
    
    
    45
    
    
    
    225
    
    
    
    (11
    )8
    
    
    Income From Discontinued
Operations  Net of Tax
    
    
    7
    
    
    
    2
    
    
    
    1
    
    
    
    4
    
    
    
    16
    
    
    
    379
    
    
    Cumulative Effect of Change in
Accounting  Net of Tax
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    6610
    
    
    Net Income
    
    $
    25
    
    
    $
    56
    
    
    $
    110
    
    
    $
    49
    
    
    $
    241
    
    
    $
    92EARNINGS PER SHARE
BY
SUBSIDIARY  DILUTED11
    
    
    Arizona Public Service
    
    $
    0.17
    
    
    $
    0.47
    
    
    $
    1.10
    
    
    $
    0.24
    
    
    $
    1.98
    
    
    $
    (0.37
    )12
    
    
    Pinnacle West Energy
    
    
    0.05
    
    
    
    0.01
    
    
    
    0.02
    
    
    
    (0.16
    )
    
    
    (0.08
    )
    
    
    0.1513
    
    
    APS Energy Services
    
    
    0.08
    
    
    
    0.06
    
    
    
    0.01
    
    
    
    0.03
    
    
    
    0.18
    
    
    
    (0.15
    )14
    
    
    SunCor
    
    
    0.01
    
    
    
    0.03
    
    
    
    0.07
    
    
    
    0.39
    
    
    
    0.50
    
    
    
    0.3715
    
    
    El Dorado
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (0.01
    )
    
    
    0.0516
    
    
    Parent Company
    
    
    (0.11
    )
    
    
    0.02
    
    
    
    (0.01
    )
    
    
    (0.01
    )
    
    
    (0.10
    )
    
    
    (0.36
    )17
    
    
    Income From Continuing Operations
    
    
    0.20
    
    
    
    0.59
    
    
    
    1.19
    
    
    
    0.49
    
    
    
    2.47
    
    
    
    (0.31
    )18
    
    
    Income From Discontinued
Operations  Net of Tax
    
    
    0.08
    
    
    
    0.02
    
    
    
    0.01
    
    
    
    0.05
    
    
    
    0.16
    
    
    
    0.4119
    
    
    Cumulative Effect of Change in
Accounting  Net of Tax
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.7720
    
    
    Net Income
    
    $
    0.28
    
    
    $
    0.61
    
    
    $
    1.20
    
    
    $
    0.54
    
    
    $
    2.63
    
    
    $
    0.8721
    
    
    BOOK VALUE PER SHARE
    
    $
    29.39
    
    
    $
    29.95
    
    
    $
    30.68
    
    
    $
    30.97
    
    
    $
    30.97
    
    
    $
    1.57COMMON
SHARES
OUTSTANDING (Thousands)22
    
    
    Average  Diluted
    
    
    91,359
    
    
    
    91,450
    
    
    
    91,467
    
    
    
    91,403
    
    
    
    91,405
    
    
    
    6,44123
    
    
    End of Period
    
    
    91,257
    
    
    
    91,262
    
    
    
    91,271
    
    
    
    91,288
    
    
    
    91,288
    
    
    
    33
 See Glossary of Terms.
    
    Page 26 of 31




---



##### 



Pinnacle West Capital Corporation
 
Consolidated Statistics By Quarter
2003
 Increase(Decrease)Line
    
    
    
    
    1st Qtr
    
    
    2nd Qtr
    
    
    3rd Qtr
    
    
    4th Qtr
    
    
    Year-To-Date
    
    
    vs Prior YTDELECTRIC
OPERATING
REVENUES (Dollars in
Millions)REGULATED ELECTRICITY
SEGMENTRetail24
    
    
    Residential
    
    $
    168
    
    
    $
    233
    
    
    $
    363
    
    
    $
    193
    
    
    $
    957
    
    
    $
    5125
    
    
    Business
    
    
    196
    
    
    
    251
    
    
    
    284
    
    
    
    222
    
    
    
    953
    
    
    
    2526
    
    
    Total retail
    
    
    364
    
    
    
    484
    
    
    
    647
    
    
    
    415
    
    
    
    1,910
    
    
    
    76Wholesale revenue on deliveredelectricity27
    
    
    Traditional contracts
    
    
    3
    
    
    
    4
    
    
    
    5
    
    
    
    3
    
    
    
    15
    
    
    
    728
    
    
    Off-system sales
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    29
    
    
    Transmission for others
    
    
    6
    
    
    
    5
    
    
    
    9
    
    
    
    8
    
    
    
    28
    
    
    
    (2
    )30
    
    
    Other miscellaneous services
    
    
    7
    
    
    
    6
    
    
    
    6
    
    
    
    6
    
    
    
    25
    
    
    
    731
    
    
    Total regulated operating
electricity revenues
    
    
    380
    
    
    
    499
    
    
    
    667
    
    
    
    432
    
    
    
    1,978
    
    
    
    88MARKETING
AND TRADING
SEGMENT32
    
    
    Electricity and other
commodity sales
    
    
    117
    
    
    
    101
    
    
    
    83
    
    
    
    91
    
    
    
    392
    
    
    
    10533
    
    
    Total operating electric revenues
    
    $
    497
    
    
    $
    600
    
    
    $
    750
    
    
    $
    523
    
    
    $
    2,370
    
    
    $
    193ELECTRIC SALES (GWH)REGULATED
ELECTRICITY
SEGMENTRetail sales34
    
    
    Residential
    
    
    2,104
    
    
    
    2,543
    
    
    
    4,126
    
    
    
    2,374
    
    
    
    11,147
    
    
    
    70335
    
    
    Business
    
    
    2,849
    
    
    
    3,450
    
    
    
    3,891
    
    
    
    3,225
    
    
    
    13,415
    
    
    
    49736
    
    
    Total retail
    
    
    4,953
    
    
    
    5,993
    
    
    
    8,017
    
    
    
    5,599
    
    
    
    24,562
    
    
    
    1,200Wholesale electricity delivered37
    
    
    Traditional contracts
    
    
    130
    
    
    
    131
    
    
    
    127
    
    
    
    112
    
    
    
    500
    
    
    
    2738
    
    
    Off-system sales
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    39
    
    
    Retail load hedge management
    
    
    109
    
    
    
    205
    
    
    
    446
    
    
    
    334
    
    
    
    1,094
    
    
    
    (1,548
    )40
    
    
    Total regulated electricity
    
    
    5,192
    
    
    
    6,329
    
    
    
    8,590
    
    
    
    6,045
    
    
    
    26,156
    
    
    
    (321
    )MARKETING
AND TRADING
SEGMENT41
    
    
    Wholesale sales of electricity
    
    
    7,372
    
    
    
    6,798
    
    
    
    7,255
    
    
    
    7,378
    
    
    
    28,803
    
    
    
    5,94942
    
    
    Total electric sales
    
    
    12,564
    
    
    
    13,127
    
    
    
    15,845
    
    
    
    13,423
    
    
    
    54,959
    
    
    
    5,628
 See Glossary of Terms.
    
    Page 27 of 31




---



##### 



Pinnacle West Capital Corporation
 
Consolidated Statistics By Quarter
2003
 Increase(Decrease)Line
    
    
    
    
    1st Qtr
    
    
    2nd Qtr
    
    
    3rd Qtr
    
    
    4th Qtr
    
    
    Year-To-Date
    
    
    vs Prior YTDPOWER
SUPPLY ADJUSTOR
(PSA) - REGULATED
ELECTRICITY SEGMENT
(Dollars in Millions)43
    
    
    Deferred fuel and purchased power
regulatory asset  beginning balance
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    44
    
    
    Deferred fuel and purchased power
costs  current period
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    45
    
    
    Interest on deferred fuel
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    46
    
    
    Amounts recovered through revenues
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    47
    
    
    Deferred fuel and purchased power
regulatory asset  ending balance
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    MARKETING AND TRADING
SEGMENT PRETAX GROSS
MARGIN ANALYSIS
(Dollars in Millions)Realized and Mark-To-Market
Components48
    
    
    Electricity and other commodity
sales, realized (a)
    
    $
    25
    
    
    $
    20
    
    
    $
    4
    
    
    $
    16
    
    
    $
    65
    
    
    $
    (56
    )49
    
    
    Mark-to-market reversals on
realized sales (b)
    
    
    (3
    )
    
    
    1
    
    
    
    (3
    )
    
    
    (1
    )
    
    
    (11
    )
    
    
    3550
    
    
    Change in mark-to-market value of
forward sales
    
    
    (3
    )
    
    
    (1
    )
    
    
    (3
    )
    
    
    (5
    )
    
    
    (7
    )
    
    
    (64
    )51
    
    
    Total gross margin
    
    $
    19
    
    
    $
    20
    
    
    $
    (2
    )
    
    $
    10
    
    
    $
    47
    
    
    $
    (85
    )By Pinnacle West Entity52
    
    
    Parent company marketing and
trading division
    
    $
    2
    
    
    $
    4
    
    
    $
    (2
    )
    
    $
    (9
    )
    
    $
    (5
    )
    
    $
    (95
    )53
    
    
    APS
    
    
    6
    
    
    
    4
    
    
    
    (6
    )
    
    
    4
    
    
    
    8
    
    
    $
    654
    
    
    Pinnacle West Energy
    
    
    (1
    )
    
    
    
    
    
    
    
    
    
    
    9
    
    
    
    8
    
    
    $
    455
    
    
    APS Energy Services
    
    
    12
    
    
    
    12
    
    
    
    6
    
    
    
    6
    
    
    
    36
    
    
    $
    56
    
    
    Total gross margin
    
    $
    19
    
    
    $
    20
    
    
    $
    (2
    )
    
    $
    10
    
    
    $
    47
    
    
    $
    (85
    )
 
 (a)
    
    Net effect on pretax gross margin from realization of prior-period mark-to-market included in
line 48 and in line 49 is zero. Realization of prior-period mark-to-market relates to cash flow
recognition, not earnings recognition. The opposites of amounts included in line 48 are included in
line 49. For example, line 49 shows that a prior-period mark-to-market gain of $6 million was
transferred to realized for the total year 2003. A $6 million realized gain is included in the
$65 million on line 48 for the total year 2003.(b)
    
    Quarterly amounts do not total to annual amounts because of intra-year mark-to-market
eliminations. See Glossary of Terms.
    
    Page 28 of 31




---



##### 



Pinnacle West Capital Corporation
 
Consolidated Statistics By Quarter
2003
 Increase(Decrease)Line
    
    
    
    
    1st Qtr
    
    
    2nd Qtr
    
    
    3rd Qtr
    
    
    4th Qtr
    
    
    Year-To-Date
    
    
    vs Prior YTDAVERAGE ELECTRIC CUSTOMERSRetail customers57
    
    
    Residential
    
    
    827,937
    
    
    
    821,331
    
    
    
    824,655
    
    
    
    839,539
    
    
    
    828,366
    
    
    
    26,56558
    
    
    Business
    
    
    101,999
    
    
    
    102,601
    
    
    
    103,262
    
    
    
    104,521
    
    
    
    103,096
    
    
    
    2,86859
    
    
    Total
    
    
    929,936
    
    
    
    923,932
    
    
    
    927,917
    
    
    
    944,060
    
    
    
    931,462
    
    
    
    29,43260
    
    
    Wholesale customers
    
    
    65
    
    
    
    66
    
    
    
    66
    
    
    
    66
    
    
    
    66
    
    
    
    (1
    )61
    
    
    Total customers
    
    
    930,001
    
    
    
    923,998
    
    
    
    927,983
    
    
    
    944,126
    
    
    
    931,528
    
    
    
    29,43162
    
    
    Customer growth (% over prior year)
    
    
    3.3
    %
    
    
    3.1
    %
    
    
    3.2
    %
    
    
    3.4
    %
    
    
    3.3
    %
    
    
    0.2
    %RETAIL
SALES (GWH) 
WEATHER NORMALIZED63
    
    
    Residential
    
    
    2,218
    
    
    
    2,477
    
    
    
    3,939
    
    
    
    2,269
    
    
    
    10,904
    
    
    
    44364
    
    
    Business
    
    
    2,885
    
    
    
    3,485
    
    
    
    3,857
    
    
    
    3,174
    
    
    
    13,402
    
    
    
    49665
    
    
    Total
    
    
    5,103
    
    
    
    5,962
    
    
    
    7,796
    
    
    
    5,443
    
    
    
    24,306
    
    
    
    939RETAIL USAGE
(KWh/Average Customer)66
    
    
    Residential
    
    
    2,541
    
    
    
    3,096
    
    
    
    5,004
    
    
    
    2,828
    
    
    
    13,457
    
    
    
    43267
    
    
    Business
    
    
    27,927
    
    
    
    33,625
    
    
    
    37,677
    
    
    
    30,865
    
    
    
    130,529
    
    
    
    1,288RETAIL
USAGE 
WEATHER NORMALIZED
(KWh/Average Customer)68
    
    
    Residential
    
    
    2,679
    
    
    
    3,016
    
    
    
    4,777
    
    
    
    2,703
    
    
    
    13,163
    
    
    
    11669
    
    
    Business
    
    
    28,286
    
    
    
    33,969
    
    
    
    37,356
    
    
    
    30,371
    
    
    
    129,997
    
    
    
    1,234ELECTRICITY DEMAND (MW)70
    
    
    System peak demand
    
    
    3,569
    
    
    
    5,571
    
    
    
    6,332
    
    
    
    5,124
    
    
    
    6,332
    
    
    
    529
 See Glossary of Terms.
    
    Page 29 of 31




---



##### 



Pinnacle West Capital Corporation
 
Consolidated Statistics By Quarter
2003
 Increase(Decrease)Line
    
    
    
    
    1st Qtr
    
    
    2nd Qtr
    
    
    3rd Qtr
    
    
    4th Qtr
    
    
    Year-To-Date
    
    
    vs Prior YTDENERGY SOURCES (GWH)Generation production71
    
    
    Nuclear
    
    
    2,306
    
    
    
    2,047
    
    
    
    2,230
    
    
    
    1,732
    
    
    
    8,315
    
    
    
    (666
    )72
    
    
    Coal
    
    
    2,770
    
    
    
    2,824
    
    
    
    2,972
    
    
    
    2,801
    
    
    
    11,367
    
    
    
    (690
    )73
    
    
    Gas, oil and other
    
    
    1,288
    
    
    
    1,572
    
    
    
    2,696
    
    
    
    535
    
    
    
    6,091
    
    
    
    1,72274
    
    
    Total generation production
    
    
    6,364
    
    
    
    6,443
    
    
    
    7,898
    
    
    
    5,068
    
    
    
    25,773
    
    
    
    366Purchased power75
    
    
    Firm load
    
    
    (12
    )
    
    
    606
    
    
    
    1,099
    
    
    
    1,418
    
    
    
    3,111
    
    
    
    1,49276
    
    
    Marketing and trading
    
    
    6,489
    
    
    
    6,527
    
    
    
    7,498
    
    
    
    7,236
    
    
    
    27,750
    
    
    
    4,04577
    
    
    Total purchased power
    
    
    6,477
    
    
    
    7,133
    
    
    
    8,597
    
    
    
    8,654
    
    
    
    30,861
    
    
    
    5,53778
    
    
    Total energy sources
    
    
    12,841
    
    
    
    13,576
    
    
    
    16,495
    
    
    
    13,722
    
    
    
    56,634
    
    
    
    5,903POWER PLANT PERFORMANCECapacity Factors79
    
    
    Nuclear
    
    
    98
    %
    
    
    86
    %
    
    
    93
    %
    
    
    72
    %
    
    
    87
    %
    
    
    (7
    )%80
    
    
    Coal
    
    
    75
    %
    
    
    75
    %
    
    
    79
    %
    
    
    74
    %
    
    
    76
    %
    
    
    (4
    )%81
    
    
    Gas, oil and other
    
    
    26
    %
    
    
    30
    %
    
    
    45
    %
    
    
    9
    %
    
    
    27
    %
    
    
    0
    %82
    
    
    System average
    
    
    58
    %
    
    
    57
    %
    
    
    65
    %
    
    
    41
    %
    
    
    54
    %
    
    
    (9
    )%Generation Capacity Out of Service
and Replaced for Native Load
(average MW/day) (a)83
    
    
    Nuclear
    
    
    31
    
    
    
    136
    
    
    
    61
    
    
    
    297
    
    
    
    131
    
    
    
    6484
    
    
    Coal
    
    
    292
    
    
    
    254
    
    
    
    277
    
    
    
    253
    
    
    
    269
    
    
    
    10285
    
    
    Gas
    
    
    189
    
    
    
    148
    
    
    
    154
    
    
    
    338
    
    
    
    205
    
    
    
    15786
    
    
    Total
    
    
    512
    
    
    
    538
    
    
    
    492
    
    
    
    888
    
    
    
    605
    
    
    
    323
 
 (a)
    
    Includes planned and unplanned outages See Glossary of Terms.
    
    Page 30 of 31




---



##### 



Pinnacle West Capital Corporation
 
Consolidated Statistics By Quarter
2003
 Increase(Decrease)Line
    
    
    
    
    1st Qtr
    
    
    2nd Qtr
    
    
    3rd Qtr
    
    
    4th Qtr
    
    
    Year-To-Date
    
    
    vs Prior YTDENERGY MARKET INDICATORS (a)Electricity Average Daily Spot Prices
($/MWh)On-Peak87
    
    
    Palo Verde
    
    $
    49.66
    
    
    $
    48.88
    
    
    $
    52.88
    
    
    $
    42.98
    
    
    $
    48.60
    
    
    $
    16.3288
    
    
    SP15
    
    $
    54.35
    
    
    $
    50.73
    
    
    $
    53.54
    
    
    $
    46.88
    
    
    $
    51.38
    
    
    $
    17.16Off-Peak89
    
    
    Palo Verde
    
    $
    36.09
    
    
    $
    25.48
    
    
    $
    36.08
    
    
    $
    30.48
    
    
    $
    32.03
    
    
    $
    12.1490
    
    
    SP15
    
    $
    39.70
    
    
    $
    28.27
    
    
    $
    37.81
    
    
    $
    32.85
    
    
    $
    34.66
    
    
    $
    12.97WEATHER INDICATORSActual91
    
    
    Cooling degree-days
    
    
    76
    
    
    
    1,550
    
    
    
    2,701
    
    
    
    572
    
    
    
    4,899
    
    
    
    2492
    
    
    Heating degree-days
    
    
    349
    
    
    
    17
    
    
    
    
    
    
    
    370
    
    
    
    736
    
    
    
    (64
    )93
    
    
    Average humidity
    
    
    44
    %
    
    
    18
    %
    
    
    30
    %
    
    
    34
    %
    
    
    31
    %
    
    
    4
    %10-Year Averages94
    
    
    Cooling degree-days
    
    
    99
    
    
    
    1,547
    
    
    
    2,541
    
    
    
    437
    
    
    
    4,623
    
    
    
    95
    
    
    Heating degree-days
    
    
    514
    
    
    
    31
    
    
    
    
    
    
    
    386
    
    
    
    930
    
    
    
    96
    
    
    Average humidity
    
    
    41
    %
    
    
    23
    %
    
    
    33
    %
    
    
    39
    %
    
    
    34
    %
    
    
    0
    %ECONOMIC INDICATORSBuilding Permits  Metro Phoenix (b)97
    
    
    Single-family
    
    
    8,030
    
    
    
    10,613
    
    
    
    11,191
    
    
    
    9,817
    
    
    
    39,651
    
    
    
    5,33998
    
    
    Multi-family
    
    
    863
    
    
    
    2,053
    
    
    
    1,231
    
    
    
    2,580
    
    
    
    6,727
    
    
    
    (347
    )99
    
    
    Total
    
    
    8,893
    
    
    
    12,666
    
    
    
    12,422
    
    
    
    12,397
    
    
    
    46,378
    
    
    
    4,992Arizona
Job Growth (c)100
    
    
    Payroll job growth (% over prior year)
    
    
    1.1
    %
    
    
    0.9
    %
    
    
    1.5
    %
    
    
    2.0
    %
    
    
    1.4
    %
    
    
    1.4
    %101
    
    
    Unemployment rate
(%, seasonally adjusted)
    
    
    5.8
    %
    
    
    5.9
    %
    
    
    5.7
    %
    
    
    5.3
    %
    
    
    5.7
    %
    
    
    (0.5
    )%
 
 Sources: (a)
    
    Average of daily prices obtained and used with permission from Dow Jones & Company, Inc.(b)
    
    Arizona Real Estate Center, Arizona State University W.P. Carey College of Business(c)
    
    Arizona Department of Economic Security See Glossary of Terms.
    
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