Business Context and Reporting Period
This Form 8-K Current Report was filed by Pinnacle West Capital Corporation and its subsidiary, Arizona Public Service Company, on May 13, 2005. The report details a specific corporate event regarding the acquisition of a power generation facility.
Key Financial Metrics
The filing does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity figures. The document focuses exclusively on the completion of an asset acquisition.
Material Changes
On May 13, 2005, Arizona Public Service Company completed the acquisition of the Sundance Plant. Key details of this transaction include:
- Asset: Sundance Plant, a 450-megawatt generating facility.
- Location: Approximately 55 miles southeast of Phoenix, Arizona.
- Regulatory Approval: The Federal Energy Regulatory Commission (FERC) approved the transaction on May 6, 2005.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or specific risk factors related to the acquisition. It directs readers to Note 5 of the Notes to Condensed Consolidated Financial Statements in the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2005, for additional information regarding the Request for Proposals and Asset Purchase Agreement.
Investor Verification Checklist
- Verify the purchase price and financing terms of the Sundance Plant acquisition in the Form 10-Q for the quarter ended March 31, 2005.
- Confirm the impact of the 450-megawatt addition on the company's total generation capacity.
- Review the FERC approval documentation dated May 6, 2005, for any conditions attached to the transaction.