Our commitment is to maintain a leadership role in shaping a forward-thinking, healthy and prosperous Arizona where people can build a better life. Clean, reliable and affordable electricity is necessary to achieve that outcome. By proactively adopting carbon-free goals, we will encourage and promote market-driven energy innovation. This will elicit the most affordable, flexible and cost-effective options, including new and emerging technologies, for achieving our targets. We are confident this bold initiative will encourage economic development in clean and innovative industries, create thousands of jobs and advance a healthy environment without undermining our unwavering commitment to affordable, reliable service for our customers.

While 2050 may seem far into the future, we must begin now to incorporate our advanced clean energy goals into our resource planning process. The 2050 goal will help guide our choices and investments we make for the next 30 years and beyond. A critical component is the need to invest in resources and technologies that will provide value and preserve affordability for customers. It will require new thinking and depends on improved and new technologies.

With the flexibility inherent in our plan and the declining costs of clean energy resources, our plan provides the best of both worlds – clean and affordable. By affordable, we mean we will manage our operations to try to keep price increases at or below the rate of inflation. Additionally, our plan supports pro-growth policies aimed at keeping the Arizona economy vibrant, allowing statewide economic growth to help mitigate costs. We will work with regulators, customers and other stakeholders to determine the transition path that makes sense for our customers, communities and state.

After our experience with Tom Steyer’s NextGen Proposition 127 and our Integrated Resource Plan process in 2018, we decided to take a very hard look at our generation mix and future plans. We spent more than a year talking to a variety of stakeholders including our customers, business organizations and non-governmental organizations. This plan is the result of those experiences and discussions.