APS Lowers Electricity Prices ... Again; 1.5 Percent Decrease Effective Sunday, July 1.Business Editors/Energy and Utility Writers NOTE TO MEDIA: Photo is available in a Smart News Release(TM) on Business Wire's Home Page at www.businesswire.com and at www.newstream.com PHOENIX--(BUSINESS WIRE)--June 29, 2001 For the seventh time in eight years, Arizona Public Service Arizona Public Service Company is the largest electric utility in Arizona and the principal subsidiary of publicly-traded S&P 500 member Pinnacle West Capital Corporation (NYSE: PNW), which in turn had been formerly named AZP Group (APS) will lower its electricity prices for its full-service residential and small commercial customers. "At a time when customers throughout the West are experiencing double-digit electricity rate increases, APS continues to lower its prices," said Jan Bennett, APS' vice president of customer service. "No other investor-owned utility in the nation can match our record of price reductions." Since 1993, the company's increased operating efficiencies have allowed it to reduce prices by about 13 percent, collectively saving customers more than $605 million. By contrast, over the same period prices for all other U.S. goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. have increased almost 22 percent. The latest decrease, effective July 1, will lower APS electricity bills by an average of 1.5 percent, or about $24 million, as part of an overall 7.5 percent decrease from 1999 to 2003 (an average decrease of 1.5 percent per year). Savings will vary depending on a customer's electric service plan and the amount of energy used. Approved by the Arizona Arizona (âr'əzō`nə), state in the southwestern United States. It is bordered by Utah (N), New Mexico (E), Mexico (S), and, across the Colorado R., Nevada and California (W). Corporation Commission as part of a regulatory settlement, the decrease will be applied to the demand and energy portions of customer bills. The basic service charge will not change. A typical residential customer in the Phoenix area who uses approximately 1,300 kilowatt-hours of energy each month will see an annual bill reduction of approximately $20. Likewise, a residential customer outside the Phoenix area using approximately 700 kilowatt-hours of energy each month will see an annual bill reduction of about $12. While APS prices are being reduced by 1.5 percent this year, other utilities in the West have raised, or are planning to raise their rates as much as 35 percent. Even with these price decreases, APS customers still can do their part to ensure greater savings and continued reliability of service. While there is enough energy to use, there simply is not enough to waste. By conserving con·serve v. con·served, con·serv·ing, con·serves v.tr. 1. a. To protect from loss or harm; preserve: electricity wherever possible, those monthly bills can go even lower. For ideas on easy ways to conserve energy and save money, visit www.aps.com. APS, Arizona's largest and longest-serving electric utility, serves more than 857,000 customers in 11 of the state's 15 counties. APS, with headquarters in Phoenix, is the largest subsidiary of Pinnacle pinnacle (pĭn`ĭkəl), minor architectural motif of vertical tapering shape, usually crowning a pier, buttress, or gable. Although sometimes it appears in Renaissance design, as in the Certosa di Pavia, it is almost exclusively a medieval West Capital Corp. (NYSE NYSE See: New York Stock Exchange : PNW PNW Pacific Northwest PNW Palestinian Airlines (ICAO code) PNW Probes Northwest (Ford Probe owners club) PNW Prescott and Northwestern Railroad Company PNW Printer Not Working PNW Personal Netware ). Visit us online at aps.com. Note: A Photo is available at URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com/cgi-bin/photo.cgi?pw.062901/bb3 |
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