The settlement prevents base rates from increasing for four years, but it is not a rate freeze. Under the agreement, APS may file it’s next general rate case on or after May 31 st of 2015 for new base rates to become effective on or after July 1 st of 2016. That said, we believe a number of factors will allow us to achieve competitive financial performance during the stay-out period.Aspects related to that settlement include first APS’s rate adjustment mechanisms. All of APS’s rate adjustment mechanisms will continue to function throughout the stay-out period. These mechanism include, among others, first the preferred formula rates and the related retail transmission costs adjusted, which beginning in 2013 can pass annual changes in the preferred formula rate to APS retail customers without explicit ACC approval because of the settlement.
Pinnacle West Capital Corporation's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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