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[[Arizona Public Service Company]] is the largest electric utility in Arizona and the principal subsidiary of publicly-traded S&P 500 member '''Pinnacle West Capital Corporation''' (NYSE: PNW), which in turn had been formerly named AZP Group, when Arizona Public Service reorganized as that holding company in 1985. APS, with 4,000 MW of generating capacity, serves more than one million customers in 11 counties throughout most of the state, but mainly concentrated in northern and central Arizona.<ref name="seekalpha">[http://seekingalpha.com/article/20935-pinnacle-west-the-peak-of-the-energy-pyramid Pinnacle West: The Peak of the Energy Pyramid], SeekingAlpha.com, By Ted Allrich, posted on: November 20, 2006</ref>