ARIZONA CORPORATION COMMISSION
1200 W. WASHINGTON
PHOENIX, AZ. 85007

The Arizona Corporation Commission today voted to ensure that customers of Arizona Public Service Company receive the full benefit of property tax reductions.

Today's vote was based on a decision made early this month to clarify the rate reduction agreement between the Commission and APS.

Following meetings between the commission and the company, the appropriate language was drafted and approved today.

APS will lower, by some 17.5 million dollars, electric rates for customers to reflect the lower property tax rate. This represents 100 percent of the property tax reduction on Commission regulated assests.

Commission Chairman Carl J. Kunasek said, " The purpose of reviewing the property tax language was to provided full protection and benefits for the customers of APS. Today's vote clearly establishes that consumer protection."