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Pinnacle West(PNW) - 2022 Q4 - Earnings Call Presentation

Financial Performance & Guidance - Full Year 2022 EPS was $426, primarily impacted by results of prior rate case, compared to $547 in 2021[13] - The company provides 2023 EPS guidance of $395-$415[21] - Adjusted gross margin for 2023 is projected to be $267 - $272 billion[21] - Adjusted operating and maintenance expense for 2023 is expected to be $885 - $905 million[21] Growth & Investment - Retail customer growth is projected at 15%-25%[21] - Weather-normalized retail electricity sales growth is forecasted at 35%-55%, including a 20%-40% contribution from new large manufacturing facilities and data centers[21] - The company plans a capital investment of $532 billion from 2023-2025[28] - The company projects steady rate base growth with 5-7% annual growth for FERC and ACC[32] Regulatory & Operations - A new rate case was filed on October 28, 2022, requesting a total revenue increase of $460 million and a customer net bill impact of 136% on day 1[93] - The company is targeting declining O&M per MWh, with total adjusted O&M expected to be $885M-$905M in 2023[42] - The company has contracted over 2,100 MW of clean energy and storage to be in service for APS customers by the end of 2025[62]