Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
PNW > SEC Filings for PNW > Form 8-K on 7-Jul-2014All Recent SEC Filings

Show all filings for PINNACLE WEST CAPITAL CORP

Form 8-K for PINNACLE WEST CAPITAL CORP


7-Jul-2014

Other Events, Financial Statements and Exhibits


Item 8.01 Other Events

As we have previously disclosed, on September 8, 2011, a series of transmission and generation disruptions occurred across the systems of several utilities that resulted in outages affecting portions of southern Arizona, southern California and northern Mexico. A total of approximately 7,900 MW of firm load and 2.7 million customers were reported to have been affected. On May 1, 2012, the Federal Energy Regulatory Commission ("FERC") and the North American Electric Reliability Corporation ("NERC") issued a joint report with their analysis and conclusions as to the causes of the events and recommendations to help industry operators prevent similar outages in the future. The joint report did not address potential reliability violations or an assessment of responsibility of the parties involved.

On January 22, 2014, following non-public preliminary investigations, the FERC Staff issued a Notice of Alleged Violations naming six entities involved in the event, including Arizona Public Service Company ("APS"). FERC Staff alleged that each of the named entities violated varying numbers of NERC Reliability Standards. APS is alleged to have violated seven Reliability Standard Requirements. The allegations of violations were preliminary determinations by FERC Staff and did not constitute findings by FERC itself that any violations had occurred.

On July 7, 2014, FERC approved a Stipulation and Consent Agreement among FERC's Office of Enforcement, NERC and APS which resolves all civil and administrative disputes within the jurisdiction of FERC concerning the September 8 event, including FERC's and NERC's investigations. In the settlement, APS neither admitted nor denied alleged violations of four Reliability Standard Requirements. APS agreed to pay a civil penalty of $3,250,000, of which $2,000,000 is to be paid in equal parts to the Department of the Treasury and NERC and $1,250,000 will be credited as a partial civil penalty offset in exchange for APS completing certain reliability enhancements.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit
No.        Registrant(s)                        Description

  99.1     Pinnacle West   Stipulation and Consent Agreement among FERC's Office
                APS        of Enforcement, NERC and APS


  Add PNW to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for PNW - All Recent SEC Filings
Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.