PHOENIX – In response to the application filed by Arizona Public Service (APS) with the Arizona Corporation Commission (ACC) to increase rates by 14%, Attorney General Kris Mayes released the following statement about her intent to oppose the rate hike and intervene to protect Arizona consumers.
“My office intends to vigorously oppose the outrageous rate hike APS is trying to force on Arizona consumers and families already grappling with inflation, illegal tariffs, and an overall astronomical cost of living.
This is a blatant attempt by Pinnacle West and APS executives to pad corporate profits at the expense of Arizona consumers. After years of steady rate hikes, it’s unacceptable that this monopoly utility thinks it's okay to take more of Arizonans' hard-earned money.
APS customers are already paying $12 more per month for electricity than they were this time last year. Adding another $20 per month on top of that will leave Arizona residents struggling to keep up with ever-increasing electricity bills.
As Arizona’s Attorney General, I have a duty to protect consumers from corporate greed. I will not stand by as APS and Pinnacle West attempt to fleece Arizonans with yet another unjustified rate hike.”
If APS’ 14% rate hike request is approved, Arizona consumers will pay an extra $20 on monthly electric bills beginning next summer. In 2024, APS increased rates by 8%, which raised the monthly cost of electricity by an average of $12 for Arizona consumers. Prior to that, APS hiked rates 8% in 2023 and 4.5% in 2017. Arizonans already pay more for electricity than consumers in 38 other states.
A 14% rate hike would raise APS revenue by nearly $580 million annually, directly from the pockets of Arizona consumers and businesses. APS claims that their rate hike request is in response to rising costs, but Pinnacle West Capital Corporation, the utility’s parent company, reported net income of $609 million last year.
APS is Arizona’s largest electric service provider, supplying power to homes and businesses in 11 of the state's 15 counties. Their proposed rate hike would impact the majority of Arizona consumers. Attorney General Mayes previously served on the Arizona Corporation Commission.
