Arizona Public Service history

In 1920 Central Arizona Light & Power Co. was incorporated and it took over all the plants, property, and business of the Pacific Gas & Electric Co.

That represented a small gain from 1930's figures of 21,000 electric customers and 12,568 gas customers.

In 1939 Central Arizona bought the electric distribution system of the Scottsdale Light & Power Co. and the adjacent distribution system of the Salt River Water Users' Association.

Throughout the years Central Arizona had continued to build steam generating stations and by 1941 it had steam electric generating stations with a capacity of 42,000 kilowatts.

The holding company released it and the firm issued common stock in 1945.

Central Arizona expanded during the postwar years, purchasing the electric distribution systems in Salome and Parker, Arizona, in 1947.

In 1949 Central Arizona acquired the entire capital stock of Northern Arizona Light & Power Co., and that firm became Central's subsidiary.

In 1952, it merged with Arizona Edison and changed its name to Arizona Public Service.

In 1956, APS and California Electric Power Co. entered an agreement to construct a generating station at Yuma, Arizona.

In 1960 the natural-gas fueled Ocotillo station at Tempe came on line with two units of 110,000 kilowatts each.

Over the same period, revenues rose from $46 million to $86 million, while net income doubled from $6.7 million to $13.6 million in 1962.

In 1965 W.T. Lucking took over as chairman.

In 1968 the firm bought the electric distribution facilities of the Yuma Irrigation District.

In May 1976 APS received a construction permit from the Nuclear Regulatory Commission to build the Palo Verde Nuclear Generating Station, whose three units would have a capacity of 33,810 megawatts.

Total operating revenues in 1981 stood at $882 million, with $730 million coming from the electricity business.

In 1984 the firm restructured, getting out of the gas business altogether by selling its distribution facilities to Southwest Gas Corp.

Finally, in 1986, the firm also bought Malapai Resources, a uranium venture.

But in 1987, total revenues were over $1.31 billion, all of which came from electricity.

A 1990 report by the Nuclear Regulatory Commission found that organizational instability and uncertainty were evident at Palo Verde.

1991: Palo Verde nuclear plant resumes operations.

APS also worked with the Arizona Corporations Commission on the establishment of price guidelines, and by late 1998 had reduced consumer rates by 8.4 percent.

At the beginning of 1999, Richard Snell turned over the position of CEO to William Post, a transition that had long been planned; Snell continued as chairman.