<SUBMISSION>
<ACCESSION-NUMBER>0001209191-03-032853
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20031126
<FILING-DATE>20031201
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>STEWART WILLIAM
<CIK>0001104060
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>001-08962
<FILM-NUMBER>031030888
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>210 SOUTH FOURTH AVENUE
<CITY>PHOENIX
<STATE>AZ
<ZIP>85003
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>210 SOUTH FOURTH AVENUE
<CITY>PHOENIX
<STATE>AZ
<ZIP>85003
</MAIL-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>PINNACLE WEST CAPITAL CORP
<CIK>0000764622
<ASSIGNED-SIC>4911
<IRS-NUMBER>860512431
<STATE-OF-INCORPORATION>AZ
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>400 NORTH FIFTH STREET
<STREET2>.
<CITY>PHOENIX
<STATE>AZ
<ZIP>85004
<PHONE>6023792500
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>400 NORTH FIFTH STREET
<STREET2>.
<CITY>PHOENIX
<STATE>AZ
<ZIP>85004
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>AZP GROUP INC
<DATE-CHANGED>19870506
</FORMER-COMPANY>
</ISSUER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bpx68497_bpx11wls4.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
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