The parent company of Arizona Public Service Co. reported losses Friday of $15.1 million for the quarter. A year ago Phoenix-based Pinnacle West Capital Corp. reported first quarter losses of $6 million. The company says the loss amount of 14 cents per share compares to a loss of 6 cents per share a year ago.
Pinnacle West attributed the lower earnings to increased operations and maintenance expenses at two APS plants as the utility gears up for the peak summer use season.
