Pinnacle West Capital Corporation focuses on power generation, transmission, and distribution. As of the end of 2023, it operates 56 power plants with a total capacity of 6,491 MW, alongside a distribution network of 18,167.9 km of overhead lines and 37,987 km of underground lines, and a transmission network of 9,385.7 km of overhead lines and 136.8 km of underground lines. UBS has reiterated its neutral rating for the company.