SEC Info - Pinnacle West Capital Corp., et al. - ‘10-K’ for 12/31/20

SEC Info℠

Home

My Interests

Help

Please Sign In

Pinnacle West Capital Corp., et al. – ‘10-K’ for 12/31/20 – ‘EX-101.CAL’

On: Wednesday, 2/24/21, at 8:32am ET · For: 12/31/20 · Accession #: 764622-21-13 · File #s: 1-04473, 1-08962

Previous ‘10-K’: ‘10-K’ on 2/21/20 for 12/31/19 · Next: ‘10-K’ on 2/25/22 for 12/31/21 · Latest: ‘10-K’ on 2/27/24 for 12/31/23 · 85 References:

  As Of               Filer                 Filing    For·On·As Docs:Size

 2/24/21  Pinnacle West Capital Corp.       10-K       12/31/20  144:26M
          Arizona Public Service Co.

Annual Report — Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   3.25M 
 2: EX-4.9      Instrument Defining the Rights of Security Holders  HTML     63K 
 3: EX-10.4.4   Material Contract                                   HTML     51K 
 4: EX-10.4.5A  Material Contract                                   HTML     47K 
 5: EX-10.4.5B  Material Contract                                   HTML     45K 
 6: EX-10.4.6   Material Contract                                   HTML     58K 
 7: EX-10.4.7   Material Contract                                   HTML     52K 
 8: EX-10.4.8   Material Contract                                   HTML     51K 
 9: EX-10.6.4   Material Contract                                   HTML     40K 
10: EX-10.6.5K  Material Contract                                   HTML     77K 
11: EX-10.6.5L  Material Contract                                   HTML     77K 
12: EX-21.1     Subsidiaries List                                   HTML     37K 
13: EX-23.1     Consent of Expert or Counsel                        HTML     37K 
14: EX-23.2     Consent of Expert or Counsel                        HTML     37K 
15: EX-31.1     Certification -- §302 - SOA'02                      HTML     43K 
16: EX-31.2     Certification -- §302 - SOA'02                      HTML     43K 
17: EX-31.3     Certification -- §302 - SOA'02                      HTML     43K 
18: EX-31.4     Certification -- §302 - SOA'02                      HTML     43K 
19: EX-32.1     Certification -- §906 - SOA'02                      HTML     41K 
20: EX-32.2     Certification -- §906 - SOA'02                      HTML     41K 
27: R1          Cover Page                                          HTML    115K 
28: R2          Consolidated Statements of Income                   HTML    136K 
29: R3          Consolidated Statements of Comprehensive Income     HTML     74K 
30: R4          Consolidated Statements of Comprehensive Income     HTML     46K 
                (Parenthetical)                                                  
31: R5          Consolidated Balance Sheets                         HTML    254K 
32: R6          Consolidated Balance Sheets (Parenthetical)         HTML     56K 
33: R7          Consolidated Statements of Cash Flows               HTML    165K 
34: R8          Consolidated Statements of Changes in Equity        HTML    129K 
35: R9          Consolidated Statements of Changes in Equity        HTML     39K 
                (Parenthetical)                                                  
36: R10         Summary of Significant Accounting Policies          HTML    123K 
37: R11         Revenue                                             HTML     71K 
38: R12         New Accounting Standards                            HTML     49K 
39: R13         Regulatory Matters                                  HTML    258K 
40: R14         Income Taxes                                        HTML    225K 
41: R15         Lines of Credit and Short-Term Borrowings           HTML     58K 
42: R16         Long-Term Debt and Liquidity Matters                HTML    105K 
43: R17         Retirement Plans and Other Postretirement Benefits  HTML    311K 
44: R18         Leases                                              HTML     87K 
45: R19         Jointly-Owned Facilities                            HTML     87K 
46: R20         Commitments and Contingencies                       HTML     99K 
47: R21         Asset Retirement Obligations                        HTML     50K 
48: R22         Fair Value Measurements                             HTML    159K 
49: R23         Earnings Per Share                                  HTML     54K 
50: R24         Stock-Based Compensation                            HTML     75K 
51: R25         Derivative Accounting                               HTML    121K 
52: R26         Other Income and Other Expense                      HTML     80K 
53: R27         Palo Verde Sale Leaseback Variable Interest         HTML     48K 
                Entities                                                         
54: R28         Investments in Nuclear Decommissioning Trusts and   HTML    108K 
                Other Special Use Funds                                          
55: R29         Changes in Accumulated Other Comprehensive Loss     HTML     77K 
56: R30         Schedule I - Condensed Financial Information of     HTML    148K 
                Registrant                                                       
57: R31         Summary of Significant Accounting Policies          HTML    141K 
                (Policies)                                                       
58: R32         Summary of Significant Accounting Policies          HTML     80K 
                (Tables)                                                         
59: R33         Revenue (Tables)                                    HTML     64K 
60: R34         Regulatory Matters (Tables)                         HTML    162K 
61: R35         Income Taxes (Tables)                               HTML    224K 
62: R36         Lines of Credit and Short-Term Borrowings (Tables)  HTML     54K 
63: R37         Long-Term Debt and Liquidity Matters (Tables)       HTML    103K 
64: R38         Retirement Plans and Other Postretirement Benefits  HTML    304K 
                (Tables)                                                         
65: R39         Leases (Tables)                                     HTML     85K 
66: R40         Jointly-Owned Facilities (Tables)                   HTML     88K 
67: R41         Commitments and Contingencies (Tables)              HTML     55K 
68: R42         Asset Retirement Obligations (Tables)               HTML     48K 
69: R43         Fair Value Measurements (Tables)                    HTML    139K 
70: R44         Earnings Per Share (Tables)                         HTML     54K 
71: R45         Stock-Based Compensation (Tables)                   HTML     92K 
72: R46         Derivative Accounting (Tables)                      HTML    168K 
73: R47         Other Income and Other Expense (Tables)             HTML     79K 
74: R48         Palo Verde Sale Leaseback Variable Interest         HTML     47K 
                Entities (Tables)                                                
75: R49         Investments in Nuclear Decommissioning Trusts and   HTML    107K 
                Other Special Use Funds (Tables)                                 
76: R50         Changes in Accumulated Other Comprehensive Loss     HTML     76K 
                (Tables)                                                         
77: R51         Summary of Significant Accounting Policies -        HTML    121K 
                Additional Information (Details)                                 
78: R52         Summary of Significant Accounting Policies -        HTML     66K 
                Summary of Property, Plant and Equipment (Details)               
79: R53         Summary of Significant Accounting Policies -        HTML     62K 
                Supplemental Cash Flow Information (Details)                     
80: R54         Revenue - Sources of Revenue (Details)              HTML     55K 
81: R55         Revenue - Additional Information (Details)          HTML     52K 
82: R56         Revenue - Allowance for Doubtful Accounts           HTML     45K 
                (Details)                                                        
83: R57         Regulatory Matters - Regulatory Matters - COVID-19  HTML     79K 
                (Details)                                                        
84: R58         Regulatory Matters - Retail Rate Case Filing        HTML    136K 
                (Details)                                                        
85: R59         Regulatory Matters - Capital Structure and Costs    HTML     52K 
                of Capital (Details)                                             
86: R60         Regulatory Matters - Additional Information         HTML    285K 
                (Details)                                                        
87: R61         Regulatory Matters - Deferred Fuel and Purchased    HTML     50K 
                Power Regulatory Asset (Details)                                 
88: R62         Regulatory Matters - Four Corners, Cholla and       HTML     51K 
                Navajo Plant (Details)                                           
89: R63         Regulatory Matters - Schedule of Regulatory Assets  HTML     96K 
                (Details)                                                        
90: R64         Regulatory Matters - Schedule of Regulatory         HTML     96K 
                Liabilities (Details)                                            
91: R65         Income Taxes - Additional Information (Details)     HTML     62K 
92: R66         Income Taxes - Reconciliation of Unrecognized Tax   HTML     59K 
                Benefits (Details)                                               
93: R67         Income Taxes - Summary of Unrecognized Tax          HTML     47K 
                Benefits (Details)                                               
94: R68         Income Taxes - Components of Income Tax Expense     HTML     64K 
                (Details)                                                        
95: R69         Income Taxes - Effective Tax Rate Reconciliation    HTML     71K 
                (Details)                                                        
96: R70         Income Taxes - Components of Deferred Income Tax    HTML    109K 
                Liability (Details)                                              
97: R71         Lines of Credit and Short-Term Borrowings -         HTML     57K 
                Schedule of Credit Facilities (Details)                          
98: R72         Lines of Credit and Short-Term Borrowings -         HTML    104K 
                Additional Information (Details)                                 
99: R73         Long-Term Debt and Liquidity Matters - Components   HTML    100K 
                of Long-Term Debt (Details)                                      
100: R74         Long-Term Debt and Liquidity Matters - Additional   HTML    116K  
                Information (Details)                                            
101: R75         Long-Term Debt and Liquidity Matters - Future       HTML     61K  
                Principal Payments (Details)                                     
102: R76         Long-Term Debt and Liquidity Matters - Fair Value   HTML     46K  
                of Long-Term Debt (Details)                                      
103: R77         Retirement Plans and Other Postretirement Benefits  HTML     84K  
                - Additional Information (Details)                               
104: R78         Retirement Plans and Other Postretirement Benefits  HTML     66K  
                - Net Periodic Benefit Costs and Portion including               
                Portion Charged to Expense (Details)                             
105: R79         Retirement Plans and Other Postretirement Benefits  HTML     78K  
                - Changes Benefit Obligations and Funded Status                  
                (Details)                                                        
106: R80         Retirement Plans and Other Postretirement Benefits  HTML     49K  
                - Projected Benefit Obligation for Pension Plans                 
                (Details)                                                        
107: R81         Retirement Plans and Other Postretirement Benefits  HTML     56K  
                - Amounts Recognized on the Consolidated Balance                 
                Sheets (Details)                                                 
108: R82         Retirement Plans and Other Postretirement Benefits  HTML     55K  
                - Impact to Accumulated Other Comprehensive Loss                 
                (Details)                                                        
109: R83         Retirement Plans and Other Postretirement Benefits  HTML     80K  
                - Weighted-Average Assumptions for Pensions and                  
                Other Benefits (Details)                                         
110: R84         Retirement Plans and Other Postretirement Benefits  HTML     61K  
                - Asset Allocation (Details)                                     
111: R85         Retirement Plans and Other Postretirement Benefits  HTML    118K  
                - Fair Value of Pinnacle West's Pension Plan                     
                (Details)                                                        
112: R86         Retirement Plans and Other Postretirement Benefits  HTML     55K  
                - Estimated Future Benefit Payments (Details)                    
113: R87         Leases - Additional information (Details)           HTML     61K  
114: R88         Leases - Lease costs (Details)                      HTML     53K  
115: R89         Leases - Maturity of our operating lease            HTML     66K  
                liabilities (Details)                                            
116: R90         Leases - Other additional information related to    HTML     47K  
                operating lease liabilities (Details)                            
117: R91         Jointly-Owned Facilities (Details)                  HTML    102K  
118: R92         Commitments and Contingencies - Palo Verde Nuclear  HTML    119K  
                Generating Station and Contractual Obligations                   
                (Details)                                                        
119: R93         Commitments and Contingencies - Superfund-Related   HTML     48K  
                Matters and Southwest Power Outage (Details)                     
120: R94         Commitments and Contingencies - Environmental       HTML    105K  
                Matters and Financial Assurances (Details)                       
121: R95         Asset Retirement Obligations (Details)              HTML     63K  
122: R96         Fair Value Measurements - Fair Value of Assets and  HTML    122K  
                Liabilities (Details)                                            
123: R97         Fair Value Measurements - Additional Information    HTML     48K  
                (Details)                                                        
124: R98         Earnings Per Share (Details)                        HTML     66K  
125: R99         Stock-Based Compensation - Additional Information   HTML    101K  
                (Details)                                                        
126: R100        Stock-Based Compensation - Summary of Restricted    HTML     49K  
                Stock, Stock Grants, Stock Units and Performance                 
                Shares (Details)                                                 
127: R101        Stock-Based Compensation - Status of Nonvested      HTML     78K  
                Restricted Stock, Stock Grants, Stock Units and                  
                Performance Shares (Details)                                     
128: R102        Derivative Accounting - Additional Information      HTML     56K  
                (Details)                                                        
129: R103        Derivative Accounting - Outstanding Gross Notional  HTML     42K  
                Amounts Outstanding (Details)                                    
130: R104        Derivative Accounting - Gains and Losses from       HTML     55K  
                Derivative Instruments (Details)                                 
131: R105        Derivative Accounting - Derivative Instruments in   HTML     97K  
                the Balance Sheet (Details)                                      
132: R106        Derivative Accounting - Credit Risk and Related     HTML     45K  
                Contingent Features (Details)                                    
133: R107        Other Income and Other Expense (Details)            HTML     79K  
134: R108        Palo Verde Sale Leaseback Variable Interest         HTML     70K  
                Entities (Details)                                               
135: R109        Palo Verde Sale Leaseback Variable Interest         HTML     51K  
                Entities - Schedule of VIEs (Details)                            
136: R110        Investments in Nuclear Decommissioning Trusts and   HTML    133K  
                Other Special Use Funds (Details)                                
137: R111        Changes in Accumulated Other Comprehensive Loss     HTML     73K  
                (Details)                                                        
138: R112        SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF     HTML     77K  
                REGISTRANT - Comprehensive Income (Details)                      
139: R113        SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF     HTML    154K  
                REGISTRANT - Balance Sheets (Details)                            
140: R114        SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF     HTML    117K  
                REGISTRANT - Cash Flows (Details)                                
142: XML         IDEA XML File -- Filing Summary                      XML    254K  
26: XML         XBRL Instance -- pnw-20201231_htm                    XML   7.07M 
141: EXCEL       IDEA Workbook of Financial Reports                  XLSX    234K  
22: EX-101.CAL  XBRL Calculations -- pnw-20201231_cal                XML    507K 
23: EX-101.DEF  XBRL Definitions -- pnw-20201231_def                 XML   2.30M 
24: EX-101.LAB  XBRL Labels -- pnw-20201231_lab                      XML   3.87M 
25: EX-101.PRE  XBRL Presentations -- pnw-20201231_pre               XML   2.51M 
21: EX-101.SCH  XBRL Schema -- pnw-20201231                          XSD    465K 
143: JSON        XBRL Instance as JSON Data -- MetaLinks              763±  1.19M  
144: ZIP         XBRL Zipped Folder -- 0000764622-21-000013-xbrl      Zip   1.24M

‘EX-101.CAL’ — XBRL Calculations — pnw-20201231_cal

This Exhibit is an XBRL XML File.

<?xml version="1.0" encoding="windows-1252"?>

<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">

<link:roleRef roleURI="http://pinnaclewest.com/role/CoverPage" xlink:type="simple" xlink:href="pnw-20201231.xsd#CoverPage"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CoverPage" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/CONSOLIDATEDSTATEMENTSOFINCOME" xlink:type="simple" xlink:href="pnw-20201231.xsd#CONSOLIDATEDSTATEMENTSOFINCOME"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CONSOLIDATEDSTATEMENTSOFINCOME" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses_2e3da8c0-9a31-47f5-84d4-1cc689d2bf87" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostsAndExpenses"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization_7966249f-75e6-41e3-9f26-56dce681d6b8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_2e3da8c0-9a31-47f5-84d4-1cc689d2bf87" xlink:to="loc_us-gaap_CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization_7966249f-75e6-41e3-9f26-56dce681d6b8" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_UtilitiesOperatingExpenseMaintenanceAndOperations_dfe2809d-6665-46ec-96d1-92d626b274d5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UtilitiesOperatingExpenseMaintenanceAndOperations"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_2e3da8c0-9a31-47f5-84d4-1cc689d2bf87" xlink:to="loc_us-gaap_UtilitiesOperatingExpenseMaintenanceAndOperations_dfe2809d-6665-46ec-96d1-92d626b274d5" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostOfGoodsAndServicesSoldDepreciationAndAmortization_56a2d27d-7f4b-4a52-9223-d8021ab56774" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostOfGoodsAndServicesSoldDepreciationAndAmortization"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_2e3da8c0-9a31-47f5-84d4-1cc689d2bf87" xlink:to="loc_us-gaap_CostOfGoodsAndServicesSoldDepreciationAndAmortization_56a2d27d-7f4b-4a52-9223-d8021ab56774" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TaxesExcludingIncomeAndExciseTaxes_31c22ac7-c8cd-40a6-a053-8697e4011e23" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TaxesExcludingIncomeAndExciseTaxes"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_2e3da8c0-9a31-47f5-84d4-1cc689d2bf87" xlink:to="loc_us-gaap_TaxesExcludingIncomeAndExciseTaxes_31c22ac7-c8cd-40a6-a053-8697e4011e23" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCostAndExpenseOperating_83e50967-a97f-4da4-8f73-ae188c1e56ea" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherCostAndExpenseOperating"/>

<link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_2e3da8c0-9a31-47f5-84d4-1cc689d2bf87" xlink:to="loc_us-gaap_OtherCostAndExpenseOperating_83e50967-a97f-4da4-8f73-ae188c1e56ea" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpense_201fdcb8-0f29-4576-aa29-8499b1ef8f0b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NonoperatingIncomeExpense"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_8767e317-d690-41d3-a125-01f99ea2c554" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_201fdcb8-0f29-4576-aa29-8499b1ef8f0b" xlink:to="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_8767e317-d690-41d3-a125-01f99ea2c554" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncome_4a104364-6a35-49f3-b4a3-f75eea61a2fc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNonoperatingIncome"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_201fdcb8-0f29-4576-aa29-8499b1ef8f0b" xlink:to="loc_us-gaap_OtherNonoperatingIncome_4a104364-6a35-49f3-b4a3-f75eea61a2fc" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingExpense_5f1c24e9-82ff-4000-9288-a6dfe7a54911" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNonoperatingExpense"/>

<link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_201fdcb8-0f29-4576-aa29-8499b1ef8f0b" xlink:to="loc_us-gaap_OtherNonoperatingExpense_5f1c24e9-82ff-4000-9288-a6dfe7a54911" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PensionAndOtherPostretirementBenefitExpense_149cd529-af32-42fd-ad8e-d0535767fa2b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PensionAndOtherPostretirementBenefitExpense"/>

<link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_201fdcb8-0f29-4576-aa29-8499b1ef8f0b" xlink:to="loc_us-gaap_PensionAndOtherPostretirementBenefitExpense_149cd529-af32-42fd-ad8e-d0535767fa2b" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest_a648bbcc-5b94-4b76-90cc-15033f0f5dcc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_b681e09a-b6f8-40be-9b85-ec1385716c25" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest_a648bbcc-5b94-4b76-90cc-15033f0f5dcc" xlink:to="loc_us-gaap_OperatingIncomeLoss_b681e09a-b6f8-40be-9b85-ec1385716c25" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpense_fd29371e-e708-4492-8b58-b25998217de0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NonoperatingIncomeExpense"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest_a648bbcc-5b94-4b76-90cc-15033f0f5dcc" xlink:to="loc_us-gaap_NonoperatingIncomeExpense_fd29371e-e708-4492-8b58-b25998217de0" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpense_a6cb27f9-b3d4-4155-b679-563ad6fea4bd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpense"/>

<link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest_a648bbcc-5b94-4b76-90cc-15033f0f5dcc" xlink:to="loc_us-gaap_InterestExpense_a6cb27f9-b3d4-4155-b679-563ad6fea4bd" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpense_02106944-0319-41c5-a923-11dfab443a09" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpense"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions_0fc0188b-e472-4897-be20-0320aa14c12f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions"/>

<link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestExpense_02106944-0319-41c5-a923-11dfab443a09" xlink:to="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions_0fc0188b-e472-4897-be20-0320aa14c12f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestCostsIncurred_0ac17653-17d9-480a-b1fd-1db8defe14fe" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestCostsIncurred"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestExpense_02106944-0319-41c5-a923-11dfab443a09" xlink:to="loc_us-gaap_InterestCostsIncurred_0ac17653-17d9-480a-b1fd-1db8defe14fe" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_9d58a642-588b-42f6-b0f6-8887d82c4d42" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_522eaa3c-96f7-46ec-b694-cc26607472a0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_9d58a642-588b-42f6-b0f6-8887d82c4d42" xlink:to="loc_us-gaap_ProfitLoss_522eaa3c-96f7-46ec-b694-cc26607472a0" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_decb7cec-9dd5-4816-9c0d-a1c3d3eb9ca1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_9d58a642-588b-42f6-b0f6-8887d82c4d42" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_decb7cec-9dd5-4816-9c0d-a1c3d3eb9ca1" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_d5950ae8-9a77-4fcf-a158-a608702b21f8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_Revenues_a0d7e865-b8c5-47d7-816d-50ffb66eb959" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_d5950ae8-9a77-4fcf-a158-a608702b21f8" xlink:to="loc_us-gaap_Revenues_a0d7e865-b8c5-47d7-816d-50ffb66eb959" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses_0bda2ab1-03b0-4ccb-91b3-9dbfeaec85d1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostsAndExpenses"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_d5950ae8-9a77-4fcf-a158-a608702b21f8" xlink:to="loc_us-gaap_CostsAndExpenses_0bda2ab1-03b0-4ccb-91b3-9dbfeaec85d1" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_bcca5d94-ef4b-49fc-a75d-0eed6ac10d3c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest_04f75446-90fb-40f8-b546-f8361bcba90c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_bcca5d94-ef4b-49fc-a75d-0eed6ac10d3c" xlink:to="loc_us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest_04f75446-90fb-40f8-b546-f8361bcba90c" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_954807a1-3969-4def-b716-4a6ef31d7d77" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_bcca5d94-ef4b-49fc-a75d-0eed6ac10d3c" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_954807a1-3969-4def-b716-4a6ef31d7d77" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/CONSOLIDATEDSTATEMENTSOFCOMPREHENSIVEINCOME" xlink:type="simple" xlink:href="pnw-20201231.xsd#CONSOLIDATEDSTATEMENTSOFCOMPREHENSIVEINCOME"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CONSOLIDATEDSTATEMENTSOFCOMPREHENSIVEINCOME" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_0c8049d3-fbc7-4e52-87ba-e3dd4267a79d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_8f15bfe5-46c1-4f74-a0ae-35a00a12ec2d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_0c8049d3-fbc7-4e52-87ba-e3dd4267a79d" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_8f15bfe5-46c1-4f74-a0ae-35a00a12ec2d" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_2f17a6e0-17d3-4d17-8750-24871363e467" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_0c8049d3-fbc7-4e52-87ba-e3dd4267a79d" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_2f17a6e0-17d3-4d17-8750-24871363e467" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax_caf1832b-d3a6-47f9-92ac-5f6aa5f94ac9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax"/>

<link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_0c8049d3-fbc7-4e52-87ba-e3dd4267a79d" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax_caf1832b-d3a6-47f9-92ac-5f6aa5f94ac9" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_96463d1a-3fb8-42df-a917-5525c75d40d1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_974d1821-93cb-4f0c-a5b9-d35bba948af5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_96463d1a-3fb8-42df-a917-5525c75d40d1" xlink:to="loc_us-gaap_ProfitLoss_974d1821-93cb-4f0c-a5b9-d35bba948af5" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_f70ac449-cf7f-4c7a-a856-9f98147192c4" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_96463d1a-3fb8-42df-a917-5525c75d40d1" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_f70ac449-cf7f-4c7a-a856-9f98147192c4" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_fe96116e-2008-4a6d-9918-cd99604d0e94" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_c96d4119-8c4b-42c7-a984-c3474c3d3425" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_fe96116e-2008-4a6d-9918-cd99604d0e94" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_c96d4119-8c4b-42c7-a984-c3474c3d3425" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_6c4d3510-5306-4c08-8335-855f79416edc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_fe96116e-2008-4a6d-9918-cd99604d0e94" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_6c4d3510-5306-4c08-8335-855f79416edc" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/CONSOLIDATEDSTATEMENTSOFCOMPREHENSIVEINCOMEParenthetical" xlink:type="simple" xlink:href="pnw-20201231.xsd#CONSOLIDATEDSTATEMENTSOFCOMPREHENSIVEINCOMEParenthetical"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CONSOLIDATEDSTATEMENTSOFCOMPREHENSIVEINCOMEParenthetical" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/CONSOLIDATEDBALANCESHEETS" xlink:type="simple" xlink:href="pnw-20201231.xsd#CONSOLIDATEDBALANCESHEETS"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CONSOLIDATEDBALANCESHEETS" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredCreditsAndOtherLiabilities_956ec871-9d2e-4934-b2f5-2afb5fdf47b5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredCreditsAndOtherLiabilities"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_4209d2d4-77af-4524-97b0-b5b271319918" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredCreditsAndOtherLiabilities_956ec871-9d2e-4934-b2f5-2afb5fdf47b5" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_4209d2d4-77af-4524-97b0-b5b271319918" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RegulatoryLiabilityNoncurrent_db5ae7f3-2226-4c97-a353-c611cfd87101" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RegulatoryLiabilityNoncurrent"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredCreditsAndOtherLiabilities_956ec871-9d2e-4934-b2f5-2afb5fdf47b5" xlink:to="loc_us-gaap_RegulatoryLiabilityNoncurrent_db5ae7f3-2226-4c97-a353-c611cfd87101" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetRetirementObligationsNoncurrent_daee4eda-fad6-481a-b223-997e45a52b65" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetRetirementObligationsNoncurrent"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredCreditsAndOtherLiabilities_956ec871-9d2e-4934-b2f5-2afb5fdf47b5" xlink:to="loc_us-gaap_AssetRetirementObligationsNoncurrent_daee4eda-fad6-481a-b223-997e45a52b65" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPensionPlanLiabilitiesNoncurrent_fa22e59a-8a0e-44db-8fec-ceba827c33a1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPensionPlanLiabilitiesNoncurrent"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredCreditsAndOtherLiabilities_956ec871-9d2e-4934-b2f5-2afb5fdf47b5" xlink:to="loc_us-gaap_DefinedBenefitPensionPlanLiabilitiesNoncurrent_fa22e59a-8a0e-44db-8fec-ceba827c33a1" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilitiesNoncurrent_6e8d7e23-d576-4962-81ae-5a3341511927" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeLiabilitiesNoncurrent"/>

<link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredCreditsAndOtherLiabilities_956ec871-9d2e-4934-b2f5-2afb5fdf47b5" xlink:to="loc_us-gaap_DerivativeLiabilitiesNoncurrent_6e8d7e23-d576-4962-81ae-5a3341511927" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractWithCustomerLiabilityNoncurrent_9279b419-75ab-4deb-8e69-3850a8250834" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityNoncurrent"/>

<link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredCreditsAndOtherLiabilities_956ec871-9d2e-4934-b2f5-2afb5fdf47b5" xlink:to="loc_us-gaap_ContractWithCustomerLiabilityNoncurrent_9279b419-75ab-4deb-8e69-3850a8250834" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount_19366b8a-c639-4bbf-9dd0-c226f5759fc1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount"/>

<link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredCreditsAndOtherLiabilities_956ec871-9d2e-4934-b2f5-2afb5fdf47b5" xlink:to="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount_19366b8a-c639-4bbf-9dd0-c226f5759fc1" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedDeferredInvestmentTaxCredit_c583e801-a52d-4b9d-b489-499e53c34498" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedDeferredInvestmentTaxCredit"/>

<link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredCreditsAndOtherLiabilities_956ec871-9d2e-4934-b2f5-2afb5fdf47b5" xlink:to="loc_us-gaap_AccumulatedDeferredInvestmentTaxCredit_c583e801-a52d-4b9d-b489-499e53c34498" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilityForUncertainTaxPositionsNoncurrent_1860cb5b-92ee-4c92-a74c-d7d98c70a28c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilityForUncertainTaxPositionsNoncurrent"/>

<link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredCreditsAndOtherLiabilities_956ec871-9d2e-4934-b2f5-2afb5fdf47b5" xlink:to="loc_us-gaap_LiabilityForUncertainTaxPositionsNoncurrent_1860cb5b-92ee-4c92-a74c-d7d98c70a28c" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesNoncurrent_e7c939da-7199-472b-886f-88dffb008ef7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent"/>

<link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredCreditsAndOtherLiabilities_956ec871-9d2e-4934-b2f5-2afb5fdf47b5" xlink:to="loc_us-gaap_OtherLiabilitiesNoncurrent_e7c939da-7199-472b-886f-88dffb008ef7" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_bf619ed9-d236-46d7-9789-bf37e96a670b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent"/>

<link:calculationArc order="11" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredCreditsAndOtherLiabilities_956ec871-9d2e-4934-b2f5-2afb5fdf47b5" xlink:to="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_bf619ed9-d236-46d7-9789-bf37e96a670b" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_fd073e0e-fc9b-4ffb-aed2-5040f265993f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredCreditsAndOtherLiabilities_a0eb130a-1f19-4100-8f4f-b277384566c5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredCreditsAndOtherLiabilities"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_fd073e0e-fc9b-4ffb-aed2-5040f265993f" xlink:to="loc_us-gaap_DeferredCreditsAndOtherLiabilities_a0eb130a-1f19-4100-8f4f-b277384566c5" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesCurrent_7d6bc93e-c805-4da4-b4fb-ce54b5a4fefb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesCurrent"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_fd073e0e-fc9b-4ffb-aed2-5040f265993f" xlink:to="loc_us-gaap_LiabilitiesCurrent_7d6bc93e-c805-4da4-b4fb-ce54b5a4fefb" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtNoncurrent_0ea1fb73-1499-4573-a4b7-66b79708d56a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtNoncurrent"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_fd073e0e-fc9b-4ffb-aed2-5040f265993f" xlink:to="loc_us-gaap_LongTermDebtNoncurrent_0ea1fb73-1499-4573-a4b7-66b79708d56a" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies_95bdc5c2-3eaf-4562-bc0f-22ef02b02aba" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingencies"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_fd073e0e-fc9b-4ffb-aed2-5040f265993f" xlink:to="loc_us-gaap_CommitmentsAndContingencies_95bdc5c2-3eaf-4562-bc0f-22ef02b02aba" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_08bf5847-c6ef-44ee-906c-389de513e316" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>

<link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_fd073e0e-fc9b-4ffb-aed2-5040f265993f" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_08bf5847-c6ef-44ee-906c-389de513e316" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_b9eacab7-72a2-4995-8fd1-e1ce931ff576" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_400c30ce-e853-414a-8a56-163bce6736e3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_b9eacab7-72a2-4995-8fd1-e1ce931ff576" xlink:to="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_400c30ce-e853-414a-8a56-163bce6736e3" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_PublicUtilitiesPropertyPlantAndEquipmentSaleLeasebackNet_6a11e42f-e610-45fb-95d0-b4c04c9ac25f" xlink:href="pnw-20201231.xsd#pnw_PublicUtilitiesPropertyPlantAndEquipmentSaleLeasebackNet"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_b9eacab7-72a2-4995-8fd1-e1ce931ff576" xlink:to="loc_pnw_PublicUtilitiesPropertyPlantAndEquipmentSaleLeasebackNet_6a11e42f-e610-45fb-95d0-b4c04c9ac25f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_f60226d7-c203-4dc9-8601-a5e85a95924a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_b9eacab7-72a2-4995-8fd1-e1ce931ff576" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_f60226d7-c203-4dc9-8601-a5e85a95924a" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_ConstructionWorkInProgressGross_2c8532d1-85a5-4ef7-8a5b-c55d552aafe6" xlink:href="pnw-20201231.xsd#pnw_ConstructionWorkInProgressGross"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_b9eacab7-72a2-4995-8fd1-e1ce931ff576" xlink:to="loc_pnw_ConstructionWorkInProgressGross_2c8532d1-85a5-4ef7-8a5b-c55d552aafe6" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NuclearFuelNetOfAmortization_b2e9f63a-2723-4da2-a047-87c3d1f4d3ed" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NuclearFuelNetOfAmortization"/>

<link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_b9eacab7-72a2-4995-8fd1-e1ce931ff576" xlink:to="loc_us-gaap_NuclearFuelNetOfAmortization_b2e9f63a-2723-4da2-a047-87c3d1f4d3ed" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_CommonStockValueCommonAndTreasury_51166857-fdd6-424a-afc2-74392c13db1e" xlink:href="pnw-20201231.xsd#pnw_CommonStockValueCommonAndTreasury"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue_586b8a61-a8fb-4542-9b25-88b2aa1a4530" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockValue"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_CommonStockValueCommonAndTreasury_51166857-fdd6-424a-afc2-74392c13db1e" xlink:to="loc_us-gaap_CommonStockValue_586b8a61-a8fb-4542-9b25-88b2aa1a4530" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockValue_42e56c42-3b70-4364-9e3a-5363cc3cb229" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockValue"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_CommonStockValueCommonAndTreasury_51166857-fdd6-424a-afc2-74392c13db1e" xlink:to="loc_us-gaap_TreasuryStockValue_42e56c42-3b70-4364-9e3a-5363cc3cb229" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_TotalDeferredDebits_034e7202-6f4e-4b59-9b53-699e2a6bfdc5" xlink:href="pnw-20201231.xsd#pnw_TotalDeferredDebits"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RegulatoryAssetsNoncurrent_c364de12-30ea-4e79-95bb-89509912fc6a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RegulatoryAssetsNoncurrent"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_TotalDeferredDebits_034e7202-6f4e-4b59-9b53-699e2a6bfdc5" xlink:to="loc_us-gaap_RegulatoryAssetsNoncurrent_c364de12-30ea-4e79-95bb-89509912fc6a" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_39895db4-5065-4090-8562-aed10e7859f8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_TotalDeferredDebits_034e7202-6f4e-4b59-9b53-699e2a6bfdc5" xlink:to="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_39895db4-5065-4090-8562-aed10e7859f8" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherDeferredCostsNet_fdd5096c-7e07-4969-8c9a-c35173887f00" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherDeferredCostsNet"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_TotalDeferredDebits_034e7202-6f4e-4b59-9b53-699e2a6bfdc5" xlink:to="loc_us-gaap_OtherDeferredCostsNet_fdd5096c-7e07-4969-8c9a-c35173887f00" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAsset_c8e1d938-dbbd-41b0-a462-896fc592d0be" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_TotalDeferredDebits_034e7202-6f4e-4b59-9b53-699e2a6bfdc5" xlink:to="loc_us-gaap_OperatingLeaseRightOfUseAsset_c8e1d938-dbbd-41b0-a462-896fc592d0be" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback_03662c65-820f-4e76-b4db-daf79c3e10cb" xlink:href="pnw-20201231.xsd#pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_72a2daa6-9929-404b-a6f6-1abf4aea9579" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback_03662c65-820f-4e76-b4db-daf79c3e10cb" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_72a2daa6-9929-404b-a6f6-1abf4aea9579" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtNoncurrent_fbd513bd-4275-46d9-87fc-9a9811174267" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtNoncurrent"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback_03662c65-820f-4e76-b4db-daf79c3e10cb" xlink:to="loc_us-gaap_LongTermDebtNoncurrent_fbd513bd-4275-46d9-87fc-9a9811174267" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsCurrent_0abf6859-237d-43be-ad0e-908426228b7e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsCurrent"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_a0d6126e-ccc1-4b92-beca-4ef90786342d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_0abf6859-237d-43be-ad0e-908426228b7e" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_a0d6126e-ccc1-4b92-beca-4ef90786342d" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsReceivableGrossCurrent_04fe0dc0-5ffe-4e09-b0c6-94c6d241aa49" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableGrossCurrent"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_0abf6859-237d-43be-ad0e-908426228b7e" xlink:to="loc_us-gaap_AccountsReceivableGrossCurrent_04fe0dc0-5ffe-4e09-b0c6-94c6d241aa49" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractWithCustomerAssetNetCurrent_b21e525a-a72c-403d-93a0-a783010e97fe" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerAssetNetCurrent"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_0abf6859-237d-43be-ad0e-908426228b7e" xlink:to="loc_us-gaap_ContractWithCustomerAssetNetCurrent_b21e525a-a72c-403d-93a0-a783010e97fe" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_2edcf69a-81a9-438a-a822-bfad329dbb07" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent"/>

<link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_0abf6859-237d-43be-ad0e-908426228b7e" xlink:to="loc_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_2edcf69a-81a9-438a-a822-bfad329dbb07" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherInventorySupplies_ae742722-02da-4fdb-bb14-0dbba49dfa1c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherInventorySupplies"/>

<link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_0abf6859-237d-43be-ad0e-908426228b7e" xlink:to="loc_us-gaap_OtherInventorySupplies_ae742722-02da-4fdb-bb14-0dbba49dfa1c" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_EnergyRelatedInventoryOtherFossilFuel_cd2bcf24-1474-45d7-a345-8916c011a0ba" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EnergyRelatedInventoryOtherFossilFuel"/>

<link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_0abf6859-237d-43be-ad0e-908426228b7e" xlink:to="loc_us-gaap_EnergyRelatedInventoryOtherFossilFuel_cd2bcf24-1474-45d7-a345-8916c011a0ba" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxesReceivable_42daeee7-1302-4266-a2e6-aa86cc9dfadc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxesReceivable"/>

<link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_0abf6859-237d-43be-ad0e-908426228b7e" xlink:to="loc_us-gaap_IncomeTaxesReceivable_42daeee7-1302-4266-a2e6-aa86cc9dfadc" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedges_ff6766a1-b42c-4e0d-b0c0-25c738090b1f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedges"/>

<link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_0abf6859-237d-43be-ad0e-908426228b7e" xlink:to="loc_us-gaap_DerivativeInstrumentsAndHedges_ff6766a1-b42c-4e0d-b0c0-25c738090b1f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_73f41769-17dd-4fc2-a24b-29bf2d6f68c6" xlink:href="pnw-20201231.xsd#pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetCurrent"/>

<link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_0abf6859-237d-43be-ad0e-908426228b7e" xlink:to="loc_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_73f41769-17dd-4fc2-a24b-29bf2d6f68c6" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RegulatoryAssetsCurrent_92c094f3-a4d1-4c17-b4c1-2d99791fd47d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RegulatoryAssetsCurrent"/>

<link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_0abf6859-237d-43be-ad0e-908426228b7e" xlink:to="loc_us-gaap_RegulatoryAssetsCurrent_92c094f3-a4d1-4c17-b4c1-2d99791fd47d" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssetsCurrent_72b07660-befa-4ce1-9913-46a87611ad5c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsCurrent"/>

<link:calculationArc order="11" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_0abf6859-237d-43be-ad0e-908426228b7e" xlink:to="loc_us-gaap_OtherAssetsCurrent_72b07660-befa-4ce1-9913-46a87611ad5c" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_3c9c068f-9756-431e-b4dc-92a910f573ae" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_CommonStockValueCommonAndTreasury_064abb5b-5cea-4ab3-a6d6-3e9a322f877a" xlink:href="pnw-20201231.xsd#pnw_CommonStockValueCommonAndTreasury"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_3c9c068f-9756-431e-b4dc-92a910f573ae" xlink:to="loc_pnw_CommonStockValueCommonAndTreasury_064abb5b-5cea-4ab3-a6d6-3e9a322f877a" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_33c3e08a-a589-4645-a4b1-f3a1950b803b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_3c9c068f-9756-431e-b4dc-92a910f573ae" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_33c3e08a-a589-4645-a4b1-f3a1950b803b" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_91b5ca5a-f20f-4b16-b34f-235edc5c960d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_3c9c068f-9756-431e-b4dc-92a910f573ae" xlink:to="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_91b5ca5a-f20f-4b16-b34f-235edc5c960d" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapitalCommonStock_73fc116c-3890-4907-b865-509b2a0ae9d4" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_3c9c068f-9756-431e-b4dc-92a910f573ae" xlink:to="loc_us-gaap_AdditionalPaidInCapitalCommonStock_73fc116c-3890-4907-b865-509b2a0ae9d4" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValueOutstanding_a904b6ab-1d68-4c6c-a7cb-62485b4f9c57" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockValueOutstanding"/>

<link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_3c9c068f-9756-431e-b4dc-92a910f573ae" xlink:to="loc_us-gaap_CommonStockValueOutstanding_a904b6ab-1d68-4c6c-a7cb-62485b4f9c57" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_11395719-05ff-4900-94a7-28f60e027ea0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentGross_b779992f-6495-4419-9e30-0cb76750913c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_11395719-05ff-4900-94a7-28f60e027ea0" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentGross_b779992f-6495-4419-9e30-0cb76750913c" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_8465f487-c0cf-4ec5-8752-e7da0ea13667" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_11395719-05ff-4900-94a7-28f60e027ea0" xlink:to="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_8465f487-c0cf-4ec5-8752-e7da0ea13667" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets_238c15c8-f21b-4e4a-84dc-e664430562c2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Assets"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsCurrent_ca37aebb-d3f3-4afd-ace4-0d6a4df912b6" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsCurrent"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_238c15c8-f21b-4e4a-84dc-e664430562c2" xlink:to="loc_us-gaap_AssetsCurrent_ca37aebb-d3f3-4afd-ace4-0d6a4df912b6" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_TotalInvestmentsAndOtherAssets_b8991fac-6769-40dd-8c8e-4a1f139b9ec0" xlink:href="pnw-20201231.xsd#pnw_TotalInvestmentsAndOtherAssets"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_238c15c8-f21b-4e4a-84dc-e664430562c2" xlink:to="loc_pnw_TotalInvestmentsAndOtherAssets_b8991fac-6769-40dd-8c8e-4a1f139b9ec0" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_6a65f94b-b71c-4e26-879b-ef5b5b36f2af" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_238c15c8-f21b-4e4a-84dc-e664430562c2" xlink:to="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_6a65f94b-b71c-4e26-879b-ef5b5b36f2af" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_TotalDeferredDebits_d5e827fa-f1ea-4eeb-b782-3fa62f44a9d2" xlink:href="pnw-20201231.xsd#pnw_TotalDeferredDebits"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_238c15c8-f21b-4e4a-84dc-e664430562c2" xlink:to="loc_pnw_TotalDeferredDebits_d5e827fa-f1ea-4eeb-b782-3fa62f44a9d2" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesCurrent_3fbe23ad-81a8-4ad5-81d6-4f43ed87332c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesCurrent"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableCurrent_72a42fae-c78c-4ca8-ab77-8b5468cc4026" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableCurrent"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_3fbe23ad-81a8-4ad5-81d6-4f43ed87332c" xlink:to="loc_us-gaap_AccountsPayableCurrent_72a42fae-c78c-4ca8-ab77-8b5468cc4026" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_TaxesPayableCurrent_7f0487a0-65b7-43cd-99b7-d08138a9193f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TaxesPayableCurrent"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_3fbe23ad-81a8-4ad5-81d6-4f43ed87332c" xlink:to="loc_us-gaap_TaxesPayableCurrent_7f0487a0-65b7-43cd-99b7-d08138a9193f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPayableCurrent_4e0ddbbb-8700-4bbf-802f-d3699ee969f7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestPayableCurrent"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_3fbe23ad-81a8-4ad5-81d6-4f43ed87332c" xlink:to="loc_us-gaap_InterestPayableCurrent_4e0ddbbb-8700-4bbf-802f-d3699ee969f7" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPayableCurrent_da8a2b0f-4feb-476e-be8e-7274ac5c7851" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DividendsPayableCurrent"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_3fbe23ad-81a8-4ad5-81d6-4f43ed87332c" xlink:to="loc_us-gaap_DividendsPayableCurrent_da8a2b0f-4feb-476e-be8e-7274ac5c7851" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShortTermBorrowings_979ef461-bfee-42ed-b28d-fb1cb50b181a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShortTermBorrowings"/>

<link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_3fbe23ad-81a8-4ad5-81d6-4f43ed87332c" xlink:to="loc_us-gaap_ShortTermBorrowings_979ef461-bfee-42ed-b28d-fb1cb50b181a" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLongTermDebtCurrent_893c94a1-de24-4e83-a91f-3e2522c84ba5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherLongTermDebtCurrent"/>

<link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_3fbe23ad-81a8-4ad5-81d6-4f43ed87332c" xlink:to="loc_us-gaap_OtherLongTermDebtCurrent_893c94a1-de24-4e83-a91f-3e2522c84ba5" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractWithCustomerLiabilityCurrent_d56876ea-9ad0-4717-8d1f-afc69d7ef7a3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityCurrent"/>

<link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_3fbe23ad-81a8-4ad5-81d6-4f43ed87332c" xlink:to="loc_us-gaap_ContractWithCustomerLiabilityCurrent_d56876ea-9ad0-4717-8d1f-afc69d7ef7a3" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgesLiabilities_101ec730-351e-4bfc-a07c-277828f39f6f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgesLiabilities"/>

<link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_3fbe23ad-81a8-4ad5-81d6-4f43ed87332c" xlink:to="loc_us-gaap_DerivativeInstrumentsAndHedgesLiabilities_101ec730-351e-4bfc-a07c-277828f39f6f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetRetirementObligationCurrent_642570a2-559b-426a-b023-0400164c9fb0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetRetirementObligationCurrent"/>

<link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_3fbe23ad-81a8-4ad5-81d6-4f43ed87332c" xlink:to="loc_us-gaap_AssetRetirementObligationCurrent_642570a2-559b-426a-b023-0400164c9fb0" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrent_91c75ea3-3450-4e74-9b4e-1e11c656f823" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent"/>

<link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_3fbe23ad-81a8-4ad5-81d6-4f43ed87332c" xlink:to="loc_us-gaap_OperatingLeaseLiabilityCurrent_91c75ea3-3450-4e74-9b4e-1e11c656f823" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RegulatoryLiabilityCurrent_b52cd570-d941-4f93-bdcc-e56f74ff1301" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RegulatoryLiabilityCurrent"/>

<link:calculationArc order="11" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_3fbe23ad-81a8-4ad5-81d6-4f43ed87332c" xlink:to="loc_us-gaap_RegulatoryLiabilityCurrent_b52cd570-d941-4f93-bdcc-e56f74ff1301" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesCurrent_3f971ebe-b8e1-4035-af5d-1d6468e23a12" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherLiabilitiesCurrent"/>

<link:calculationArc order="12" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_3fbe23ad-81a8-4ad5-81d6-4f43ed87332c" xlink:to="loc_us-gaap_OtherLiabilitiesCurrent_3f971ebe-b8e1-4035-af5d-1d6468e23a12" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_3e5ecd4c-57d6-472d-babb-66991c500388" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_fcfcf8b3-e108-4182-9193-899ea55da007" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_3e5ecd4c-57d6-472d-babb-66991c500388" xlink:to="loc_us-gaap_StockholdersEquity_fcfcf8b3-e108-4182-9193-899ea55da007" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest_82bd80e3-e8ad-4e02-90ae-70343f2238d7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MinorityInterest"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_3e5ecd4c-57d6-472d-babb-66991c500388" xlink:to="loc_us-gaap_MinorityInterest_82bd80e3-e8ad-4e02-90ae-70343f2238d7" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_TotalInvestmentsAndOtherAssets_f920ead5-9e80-4124-9a4e-aeb453269ef4" xlink:href="pnw-20201231.xsd#pnw_TotalInvestmentsAndOtherAssets"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DecommissioningTrustAssetsAmount_3c1ed0ee-0a33-4c6c-a4ba-695eea5c0a0f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DecommissioningTrustAssetsAmount"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_TotalInvestmentsAndOtherAssets_f920ead5-9e80-4124-9a4e-aeb453269ef4" xlink:to="loc_us-gaap_DecommissioningTrustAssetsAmount_3c1ed0ee-0a33-4c6c-a4ba-695eea5c0a0f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssetsNoncurrent_13763851-5162-4939-8030-ce3209674d2b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsNoncurrent"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_TotalInvestmentsAndOtherAssets_f920ead5-9e80-4124-9a4e-aeb453269ef4" xlink:to="loc_us-gaap_OtherAssetsNoncurrent_13763851-5162-4939-8030-ce3209674d2b" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_CoalReclamationandUnionTrust_c608b085-4100-4d96-8be8-a4ad4c3540fe" xlink:href="pnw-20201231.xsd#pnw_CoalReclamationandUnionTrust"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_TotalInvestmentsAndOtherAssets_f920ead5-9e80-4124-9a4e-aeb453269ef4" xlink:to="loc_pnw_CoalReclamationandUnionTrust_c608b085-4100-4d96-8be8-a4ad4c3540fe" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/CONSOLIDATEDBALANCESHEETSParenthetical" xlink:type="simple" xlink:href="pnw-20201231.xsd#CONSOLIDATEDBALANCESHEETSParenthetical"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CONSOLIDATEDBALANCESHEETSParenthetical" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/CONSOLIDATEDSTATEMENTSOFCASHFLOWS" xlink:type="simple" xlink:href="pnw-20201231.xsd#CONSOLIDATEDSTATEMENTSOFCASHFLOWS"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CONSOLIDATEDSTATEMENTSOFCASHFLOWS" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_9062fcda-9ae0-4ed1-ad83-02918e5e4498" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_ProfitLoss_9062fcda-9ae0-4ed1-ad83-02918e5e4498" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization_d470cc21-f227-4f61-a39d-ce62df42c062" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_DepreciationDepletionAndAmortization_d470cc21-f227-4f61-a39d-ce62df42c062" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInRegulatoryClauseRevenue_e6ae15cc-358a-45aa-891f-785f09418626" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInRegulatoryClauseRevenue"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_IncreaseDecreaseInRegulatoryClauseRevenue_e6ae15cc-358a-45aa-891f-785f09418626" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_IncreaseDecreaseDeferredFuelAndPurchasedPowerAmortization_dd11afbc-6dc8-4340-b772-9a64d15231be" xlink:href="pnw-20201231.xsd#pnw_IncreaseDecreaseDeferredFuelAndPurchasedPowerAmortization"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_pnw_IncreaseDecreaseDeferredFuelAndPurchasedPowerAmortization_dd11afbc-6dc8-4340-b772-9a64d15231be" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_c0fb8f23-8c4c-41cd-90e9-1f5eb4979d8b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity"/>

<link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_c0fb8f23-8c4c-41cd-90e9-1f5eb4979d8b" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_0ed9a708-82a6-41f7-a0a0-0354cd973d71" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>

<link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_0ed9a708-82a6-41f7-a0a0-0354cd973d71" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredInvestmentTaxCreditExpense_705993fe-a3f0-4ce8-8f80-16cbd9593e6c" xlink:href="pnw-20201231.xsd#pnw_DeferredInvestmentTaxCreditExpense"/>

<link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_pnw_DeferredInvestmentTaxCreditExpense_705993fe-a3f0-4ce8-8f80-16cbd9593e6c" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation_8a5f90d4-9daa-4d85-b319-8a9e8853b552" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation"/>

<link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_ShareBasedCompensation_8a5f90d4-9daa-4d85-b319-8a9e8853b552" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable_d6214888-7b51-4e21-87e9-8acd7d98f0cc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable"/>

<link:calculationArc order="9" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable_d6214888-7b51-4e21-87e9-8acd7d98f0cc" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInContractWithCustomerAsset_3eed4e66-2632-4028-b47f-c8ed58613496" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInContractWithCustomerAsset"/>

<link:calculationArc order="10" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_IncreaseDecreaseInContractWithCustomerAsset_3eed4e66-2632-4028-b47f-c8ed58613496" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInInventories_fd9fbb08-99fe-413b-bdb0-a94378f2ffa9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInInventories"/>

<link:calculationArc order="11" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_IncreaseDecreaseInInventories_fd9fbb08-99fe-413b-bdb0-a94378f2ffa9" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_1ec60c4d-9bd5-4f44-8977-04c408a00cb5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInIncomeTaxesReceivable"/>

<link:calculationArc order="12" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_1ec60c4d-9bd5-4f44-8977-04c408a00cb5" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInPrepaidExpense_c75fa1e5-fb26-48b4-958b-3e478ac526d7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidExpense"/>

<link:calculationArc order="13" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_IncreaseDecreaseInPrepaidExpense_c75fa1e5-fb26-48b4-958b-3e478ac526d7" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayable_04d2dca7-ae53-4311-bd12-5e0717dc49b3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayable"/>

<link:calculationArc order="14" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsPayable_04d2dca7-ae53-4311-bd12-5e0717dc49b3" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccruedTaxesPayable_b1408173-a3c0-4783-8b4f-19127c96777f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedTaxesPayable"/>

<link:calculationArc order="15" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_IncreaseDecreaseInAccruedTaxesPayable_b1408173-a3c0-4783-8b4f-19127c96777f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_73988149-99f2-484a-9ad3-81c36060eebb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherAccruedLiabilities"/>

<link:calculationArc order="16" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_73988149-99f2-484a-9ad3-81c36060eebb" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInDepositOtherAssets_1acd3d22-4c15-4e75-8049-479d7eb33385" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInDepositOtherAssets"/>

<link:calculationArc order="17" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_IncreaseDecreaseInDepositOtherAssets_1acd3d22-4c15-4e75-8049-479d7eb33385" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_ChangeInMarginAndCollateralAccountsLiabilities_1b53d8e0-50a4-4cff-9c19-4fb0356c1ffc" xlink:href="pnw-20201231.xsd#pnw_ChangeInMarginAndCollateralAccountsLiabilities"/>

<link:calculationArc order="18" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_pnw_ChangeInMarginAndCollateralAccountsLiabilities_1b53d8e0-50a4-4cff-9c19-4fb0356c1ffc" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_IncreaseDecreaseInLiabilityForUncertaintyInIncomeTaxes_d9e7bc47-0ec9-4b4a-8f47-a97b63ed0043" xlink:href="pnw-20201231.xsd#pnw_IncreaseDecreaseInLiabilityForUncertaintyInIncomeTaxes"/>

<link:calculationArc order="19" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_pnw_IncreaseDecreaseInLiabilityForUncertaintyInIncomeTaxes_d9e7bc47-0ec9-4b4a-8f47-a97b63ed0043" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_41551080-7b1f-4f24-8a5b-861e2c58b6e4" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInRegulatoryLiabilities"/>

<link:calculationArc order="20" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_41551080-7b1f-4f24-8a5b-861e2c58b6e4" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_550d98dc-4dc8-4560-bdb3-31bb512d2437" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>

<link:calculationArc order="21" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_550d98dc-4dc8-4560-bdb3-31bb512d2437" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_c7509b93-4d47-4a57-8a44-ff9cdced94e0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities"/>

<link:calculationArc order="22" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_289a1810-c049-4299-ae4a-5a0a23b51459" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_c7509b93-4d47-4a57-8a44-ff9cdced94e0" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_a5c4541f-6a1e-44b4-972f-362459f7c466" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_a08762fe-85ff-4e15-8f16-925b0d6916a5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_a5c4541f-6a1e-44b4-972f-362459f7c466" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_a08762fe-85ff-4e15-8f16-925b0d6916a5" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_85e988b3-cc7a-4383-953e-37c5615840d9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_a5c4541f-6a1e-44b4-972f-362459f7c466" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_85e988b3-cc7a-4383-953e-37c5615840d9" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_5ebd0fc9-e098-4e96-9b2f-44bdb3f0a977" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_a5c4541f-6a1e-44b4-972f-362459f7c466" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_5ebd0fc9-e098-4e96-9b2f-44bdb3f0a977" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_2bb442a4-d115-41db-a240-45b45714d75e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_564e9834-7bb0-414c-82c3-ecc82ba02d92" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities"/>

<link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_2bb442a4-d115-41db-a240-45b45714d75e" xlink:to="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_564e9834-7bb0-414c-82c3-ecc82ba02d92" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllowanceForFundsUsedDuringConstructionInvestingActivities_6acff36d-a556-4f67-9d39-c0f37e878077" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllowanceForFundsUsedDuringConstructionInvestingActivities"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_2bb442a4-d115-41db-a240-45b45714d75e" xlink:to="loc_us-gaap_AllowanceForFundsUsedDuringConstructionInvestingActivities_6acff36d-a556-4f67-9d39-c0f37e878077" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_PaymentstoAcquireInvestmentstobeHeldinDecommissioningTrustFundAndOtherSpecialUseFunds_cda9cb0c-4a1a-4252-b8c5-2d2a66b88ae1" xlink:href="pnw-20201231.xsd#pnw_PaymentstoAcquireInvestmentstobeHeldinDecommissioningTrustFundAndOtherSpecialUseFunds"/>

<link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_2bb442a4-d115-41db-a240-45b45714d75e" xlink:to="loc_pnw_PaymentstoAcquireInvestmentstobeHeldinDecommissioningTrustFundAndOtherSpecialUseFunds_cda9cb0c-4a1a-4252-b8c5-2d2a66b88ae1" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_ProceedsfromDecommissioningTrustFundAssetsAndOtherSpecialUseFunds_f080e03e-1737-47e8-8a5c-f616523b8451" xlink:href="pnw-20201231.xsd#pnw_ProceedsfromDecommissioningTrustFundAssetsAndOtherSpecialUseFunds"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_2bb442a4-d115-41db-a240-45b45714d75e" xlink:to="loc_pnw_ProceedsfromDecommissioningTrustFundAssetsAndOtherSpecialUseFunds_f080e03e-1737-47e8-8a5c-f616523b8451" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromContributionInAidOfConstruction_2a98d226-1788-41a9-94f8-dafd440b5db3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromContributionInAidOfConstruction"/>

<link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_2bb442a4-d115-41db-a240-45b45714d75e" xlink:to="loc_us-gaap_ProceedsFromContributionInAidOfConstruction_2a98d226-1788-41a9-94f8-dafd440b5db3" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireProductiveAssets_f81fa1cc-8dd7-474d-b5f9-f04247ac4aa9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssets"/>

<link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_2bb442a4-d115-41db-a240-45b45714d75e" xlink:to="loc_us-gaap_PaymentsToAcquireProductiveAssets_f81fa1cc-8dd7-474d-b5f9-f04247ac4aa9" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_8d96b6ab-13f4-45f1-a932-03b4234c34f9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_2b17e77b-bc71-4dc8-b8bd-5416499193a0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_8d96b6ab-13f4-45f1-a932-03b4234c34f9" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_2b17e77b-bc71-4dc8-b8bd-5416499193a0" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebt_46ea6ab9-d2b9-42b5-a2a7-e70ca47497f7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_8d96b6ab-13f4-45f1-a932-03b4234c34f9" xlink:to="loc_us-gaap_RepaymentsOfLongTermDebt_46ea6ab9-d2b9-42b5-a2a7-e70ca47497f7" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_ProceedsFromRepaymentsOfShortTermDebtNet_020d24b5-a372-496d-9fad-4c7d23700352" xlink:href="pnw-20201231.xsd#pnw_ProceedsFromRepaymentsOfShortTermDebtNet"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_8d96b6ab-13f4-45f1-a932-03b4234c34f9" xlink:to="loc_pnw_ProceedsFromRepaymentsOfShortTermDebtNet_020d24b5-a372-496d-9fad-4c7d23700352" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfLinesOfCredit_74bc8517-48ee-4816-b444-c06cab645e62" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RepaymentsOfLinesOfCredit"/>

<link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_8d96b6ab-13f4-45f1-a932-03b4234c34f9" xlink:to="loc_us-gaap_RepaymentsOfLinesOfCredit_74bc8517-48ee-4816-b444-c06cab645e62" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock_158977d4-c684-413b-b17b-e56a0b814ee8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock"/>

<link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_8d96b6ab-13f4-45f1-a932-03b4234c34f9" xlink:to="loc_us-gaap_PaymentsOfDividendsCommonStock_158977d4-c684-413b-b17b-e56a0b814ee8" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToMinorityShareholders_0af3ca54-64e8-4ab1-9de2-3fded4256e98" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToMinorityShareholders"/>

<link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_8d96b6ab-13f4-45f1-a932-03b4234c34f9" xlink:to="loc_us-gaap_PaymentsToMinorityShareholders_0af3ca54-64e8-4ab1-9de2-3fded4256e98" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromLinesOfCredit_83cbf936-0d72-42df-96ab-11ce2046e55c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit"/>

<link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_8d96b6ab-13f4-45f1-a932-03b4234c34f9" xlink:to="loc_us-gaap_ProceedsFromLinesOfCredit_83cbf936-0d72-42df-96ab-11ce2046e55c" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_b2e23185-fd5c-40dc-8737-111cdf6f434c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock"/>

<link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_8d96b6ab-13f4-45f1-a932-03b4234c34f9" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_b2e23185-fd5c-40dc-8737-111cdf6f434c" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromContributionsFromParent_b02bd3e5-e3d0-4535-b4dc-e88d49f06cf5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromContributionsFromParent"/>

<link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_8d96b6ab-13f4-45f1-a932-03b4234c34f9" xlink:to="loc_us-gaap_ProceedsFromContributionsFromParent_b02bd3e5-e3d0-4535-b4dc-e88d49f06cf5" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/CONSOLIDATEDSTATEMENTSOFCHANGESINEQUITY" xlink:type="simple" xlink:href="pnw-20201231.xsd#CONSOLIDATEDSTATEMENTSOFCHANGESINEQUITY"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CONSOLIDATEDSTATEMENTSOFCHANGESINEQUITY" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/CONSOLIDATEDSTATEMENTSOFCHANGESINEQUITYParenthetical" xlink:type="simple" xlink:href="pnw-20201231.xsd#CONSOLIDATEDSTATEMENTSOFCHANGESINEQUITYParenthetical"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CONSOLIDATEDSTATEMENTSOFCHANGESINEQUITYParenthetical" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/SummaryofSignificantAccountingPolicies" xlink:type="simple" xlink:href="pnw-20201231.xsd#SummaryofSignificantAccountingPolicies"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/SummaryofSignificantAccountingPolicies" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/SummaryofSignificantAccountingPoliciesPolicies" xlink:type="simple" xlink:href="pnw-20201231.xsd#SummaryofSignificantAccountingPoliciesPolicies"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/SummaryofSignificantAccountingPoliciesPolicies" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/SummaryofSignificantAccountingPoliciesTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#SummaryofSignificantAccountingPoliciesTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/SummaryofSignificantAccountingPoliciesTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/SummaryofSignificantAccountingPoliciesAdditionalInformationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#SummaryofSignificantAccountingPoliciesAdditionalInformationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/SummaryofSignificantAccountingPoliciesAdditionalInformationDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/SummaryofSignificantAccountingPoliciesSummaryofPropertyPlantandEquipmentDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#SummaryofSignificantAccountingPoliciesSummaryofPropertyPlantandEquipmentDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/SummaryofSignificantAccountingPoliciesSummaryofPropertyPlantandEquipmentDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_162839c2-b3ba-4cf5-a108-55ef1e64926d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentGenerationOrProcessing_93eb9d17-0584-447b-8924-b79aadfb3232" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentGenerationOrProcessing"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_162839c2-b3ba-4cf5-a108-55ef1e64926d" xlink:to="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentGenerationOrProcessing_93eb9d17-0584-447b-8924-b79aadfb3232" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentTransmission_24c8f0bc-4ae2-4e34-880e-5b6f6dfa89f5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentTransmission"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_162839c2-b3ba-4cf5-a108-55ef1e64926d" xlink:to="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentTransmission_24c8f0bc-4ae2-4e34-880e-5b6f6dfa89f5" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDistribution_515e51e4-d4ca-4695-b68b-bafdcbf68be2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDistribution"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_162839c2-b3ba-4cf5-a108-55ef1e64926d" xlink:to="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDistribution_515e51e4-d4ca-4695-b68b-bafdcbf68be2" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment_24918294-26f4-4809-838c-d1078d3922b0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_162839c2-b3ba-4cf5-a108-55ef1e64926d" xlink:to="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment_24918294-26f4-4809-838c-d1078d3922b0" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_1d260fd8-69be-47d2-8478-cb99d08c7bd2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_c14d4dd1-5b83-49a9-a3ef-36daf9bc9fad" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_1d260fd8-69be-47d2-8478-cb99d08c7bd2" xlink:to="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_c14d4dd1-5b83-49a9-a3ef-36daf9bc9fad" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation_08454614-d63e-4620-bd4f-69853a3f89a7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_1d260fd8-69be-47d2-8478-cb99d08c7bd2" xlink:to="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation_08454614-d63e-4620-bd4f-69853a3f89a7" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/SummaryofSignificantAccountingPoliciesSupplementalCashFlowInformationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#SummaryofSignificantAccountingPoliciesSupplementalCashFlowInformationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/SummaryofSignificantAccountingPoliciesSupplementalCashFlowInformationDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/Revenue" xlink:type="simple" xlink:href="pnw-20201231.xsd#Revenue"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/Revenue" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RevenueTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#RevenueTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RevenueTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RevenueSourcesofRevenueDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RevenueSourcesofRevenueDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RevenueSourcesofRevenueDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RevenueAdditionalInformationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RevenueAdditionalInformationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RevenueAdditionalInformationDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RevenueAllowanceforDoubtfulAccountsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RevenueAllowanceforDoubtfulAccountsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RevenueAllowanceforDoubtfulAccountsDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/NewAccountingStandards" xlink:type="simple" xlink:href="pnw-20201231.xsd#NewAccountingStandards"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/NewAccountingStandards" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RegulatoryMatters" xlink:type="simple" xlink:href="pnw-20201231.xsd#RegulatoryMatters"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RegulatoryMatters" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RegulatoryMattersTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#RegulatoryMattersTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RegulatoryMattersTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RegulatoryMattersRegulatoryMattersCOVID19Details" xlink:type="simple" xlink:href="pnw-20201231.xsd#RegulatoryMattersRegulatoryMattersCOVID19Details"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RegulatoryMattersRegulatoryMattersCOVID19Details" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RegulatoryMattersRetailRateCaseFilingDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RegulatoryMattersRetailRateCaseFilingDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RegulatoryMattersRetailRateCaseFilingDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RegulatoryMattersCapitalStructureandCostsofCapitalDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RegulatoryMattersCapitalStructureandCostsofCapitalDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RegulatoryMattersCapitalStructureandCostsofCapitalDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RegulatoryMattersAdditionalInformationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RegulatoryMattersAdditionalInformationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RegulatoryMattersAdditionalInformationDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RegulatoryMattersDeferredFuelandPurchasedPowerRegulatoryAssetDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RegulatoryMattersDeferredFuelandPurchasedPowerRegulatoryAssetDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RegulatoryMattersDeferredFuelandPurchasedPowerRegulatoryAssetDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RegulatoryMattersFourCornersChollaandNavajoPlantDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RegulatoryMattersFourCornersChollaandNavajoPlantDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RegulatoryMattersFourCornersChollaandNavajoPlantDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RegulatoryMattersScheduleofRegulatoryAssetsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RegulatoryMattersScheduleofRegulatoryAssetsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RegulatoryMattersScheduleofRegulatoryAssetsDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RegulatoryMattersScheduleofRegulatoryLiabilitiesDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RegulatoryMattersScheduleofRegulatoryLiabilitiesDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RegulatoryMattersScheduleofRegulatoryLiabilitiesDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/IncomeTaxes" xlink:type="simple" xlink:href="pnw-20201231.xsd#IncomeTaxes"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/IncomeTaxes" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/IncomeTaxesTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#IncomeTaxesTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/IncomeTaxesTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/IncomeTaxesAdditionalInformationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#IncomeTaxesAdditionalInformationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/IncomeTaxesAdditionalInformationDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/IncomeTaxesReconciliationofUnrecognizedTaxBenefitsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#IncomeTaxesReconciliationofUnrecognizedTaxBenefitsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/IncomeTaxesReconciliationofUnrecognizedTaxBenefitsDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/IncomeTaxesSummaryofUnrecognizedTaxBenefitsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#IncomeTaxesSummaryofUnrecognizedTaxBenefitsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/IncomeTaxesSummaryofUnrecognizedTaxBenefitsDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/IncomeTaxesComponentsofIncomeTaxExpenseDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#IncomeTaxesComponentsofIncomeTaxExpenseDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/IncomeTaxesComponentsofIncomeTaxExpenseDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_97233673-df42-469a-a103-84a63e90779f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_4d2d9cee-4d54-40ab-a411-8869643c1ada" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_97233673-df42-469a-a103-84a63e90779f" xlink:to="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_4d2d9cee-4d54-40ab-a411-8869643c1ada" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations_4b82b1ec-f207-40c7-b26e-f4463f5721f4" xlink:href="pnw-20201231.xsd#pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_97233673-df42-469a-a103-84a63e90779f" xlink:to="loc_pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations_4b82b1ec-f207-40c7-b26e-f4463f5721f4" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_049d00c7-dea2-410a-a410-2d45435d2814" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentFederalTaxExpenseBenefit_df1c38f3-edfe-4d22-9fc2-2d23e9d17b15" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentFederalTaxExpenseBenefit"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_049d00c7-dea2-410a-a410-2d45435d2814" xlink:to="loc_us-gaap_CurrentFederalTaxExpenseBenefit_df1c38f3-edfe-4d22-9fc2-2d23e9d17b15" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_c28b6478-bf7a-4f5b-884d-a76b9cb5a133" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_049d00c7-dea2-410a-a410-2d45435d2814" xlink:to="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_c28b6478-bf7a-4f5b-884d-a76b9cb5a133" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations_a3592d30-4367-425c-8dcb-a434d63a4549" xlink:href="pnw-20201231.xsd#pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_4a385428-f02c-4ff7-87ba-7a2661bbbcf6" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations_a3592d30-4367-425c-8dcb-a434d63a4549" xlink:to="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_4a385428-f02c-4ff7-87ba-7a2661bbbcf6" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_8cc7ca43-32e8-4ade-8dd6-14c6b8736a93" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations_a3592d30-4367-425c-8dcb-a434d63a4549" xlink:to="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_8cc7ca43-32e8-4ade-8dd6-14c6b8736a93" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/IncomeTaxesEffectiveTaxRateReconciliationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#IncomeTaxesEffectiveTaxRateReconciliationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/IncomeTaxesEffectiveTaxRateReconciliationDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_d0eca674-c2f4-4f62-84ee-850ca2ae96cb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_26368278-9f19-40c7-8535-345d8ecabb0d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_d0eca674-c2f4-4f62-84ee-850ca2ae96cb" xlink:to="loc_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_26368278-9f19-40c7-8535-345d8ecabb0d" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_53cb2178-5729-4008-82fd-ccca503fda63" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_d0eca674-c2f4-4f62-84ee-850ca2ae96cb" xlink:to="loc_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_53cb2178-5729-4008-82fd-ccca503fda63" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_fceb9d84-3ca8-4e64-afb3-e88b317fb19f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_d0eca674-c2f4-4f62-84ee-850ca2ae96cb" xlink:to="loc_us-gaap_IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_fceb9d84-3ca8-4e64-afb3-e88b317fb19f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_EffectiveIncomeTaxRateReconciliationExcessDeferredIncomeTaxesAmount_4888ec6d-ccd6-45b1-b53d-67e6e7f11e05" xlink:href="pnw-20201231.xsd#pnw_EffectiveIncomeTaxRateReconciliationExcessDeferredIncomeTaxesAmount"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_d0eca674-c2f4-4f62-84ee-850ca2ae96cb" xlink:to="loc_pnw_EffectiveIncomeTaxRateReconciliationExcessDeferredIncomeTaxesAmount_4888ec6d-ccd6-45b1-b53d-67e6e7f11e05" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_IncomeTaxReconciliationAllowanceForEquityFundsUsedDuringConstruction_310f65ba-9172-4252-bc2c-2ce9aa5ec349" xlink:href="pnw-20201231.xsd#pnw_IncomeTaxReconciliationAllowanceForEquityFundsUsedDuringConstruction"/>

<link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_d0eca674-c2f4-4f62-84ee-850ca2ae96cb" xlink:to="loc_pnw_IncomeTaxReconciliationAllowanceForEquityFundsUsedDuringConstruction_310f65ba-9172-4252-bc2c-2ce9aa5ec349" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxReconciliationMinorityInterestIncomeExpense_7e2e26e3-2b62-4e95-bf11-3c703bc6be88" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxReconciliationMinorityInterestIncomeExpense"/>

<link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_d0eca674-c2f4-4f62-84ee-850ca2ae96cb" xlink:to="loc_us-gaap_IncomeTaxReconciliationMinorityInterestIncomeExpense_7e2e26e3-2b62-4e95-bf11-3c703bc6be88" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxReconciliationTaxCreditsInvestment_ab27f33a-8645-4997-b7a7-b13d4b382511" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxReconciliationTaxCreditsInvestment"/>

<link:calculationArc order="7" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_d0eca674-c2f4-4f62-84ee-850ca2ae96cb" xlink:to="loc_us-gaap_IncomeTaxReconciliationTaxCreditsInvestment_ab27f33a-8645-4997-b7a7-b13d4b382511" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxReconciliationOtherAdjustments_6bbba017-fad5-4107-b7ce-8a74afb79edd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxReconciliationOtherAdjustments"/>

<link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_d0eca674-c2f4-4f62-84ee-850ca2ae96cb" xlink:to="loc_us-gaap_IncomeTaxReconciliationOtherAdjustments_6bbba017-fad5-4107-b7ce-8a74afb79edd" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther_a2386662-e392-4d87-a7f0-af6ddcdf3bfd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther"/>

<link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_d0eca674-c2f4-4f62-84ee-850ca2ae96cb" xlink:to="loc_us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther_a2386662-e392-4d87-a7f0-af6ddcdf3bfd" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_EffectiveIncomeTaxRateReconciliationStateIncomeTaxCreditNetOfFederalIncomeTax_c37c502e-db5b-4016-9473-993795a051b2" xlink:href="pnw-20201231.xsd#pnw_EffectiveIncomeTaxRateReconciliationStateIncomeTaxCreditNetOfFederalIncomeTax"/>

<link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_d0eca674-c2f4-4f62-84ee-850ca2ae96cb" xlink:to="loc_pnw_EffectiveIncomeTaxRateReconciliationStateIncomeTaxCreditNetOfFederalIncomeTax_c37c502e-db5b-4016-9473-993795a051b2" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/IncomeTaxesComponentsofDeferredIncomeTaxLiabilityDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#IncomeTaxesComponentsofDeferredIncomeTaxLiabilityDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/IncomeTaxesComponentsofDeferredIncomeTaxLiabilityDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilities_c94135ed-9985-4cce-95c9-e148bbdf1bc9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilities"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilities_abcf6483-79fa-444c-b0b6-2c7ed00e4936" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilities"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxLiabilities_c94135ed-9985-4cce-95c9-e148bbdf1bc9" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilities_abcf6483-79fa-444c-b0b6-2c7ed00e4936" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsNet_b485ccbc-08aa-45d2-be6b-e9b751aadbf5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsNet"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxLiabilities_c94135ed-9985-4cce-95c9-e148bbdf1bc9" xlink:to="loc_us-gaap_DeferredTaxAssetsNet_b485ccbc-08aa-45d2-be6b-e9b751aadbf5" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilities_57739cbb-aa38-4fef-8fbd-d5f9190b5245" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilities"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_fd066775-cfab-4ee8-b0f2-fce3011ea429" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_57739cbb-aa38-4fef-8fbd-d5f9190b5245" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_fd066775-cfab-4ee8-b0f2-fce3011ea429" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesDerivatives_4c115d96-c17a-4844-8045-6afef137f5b1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesDerivatives"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_57739cbb-aa38-4fef-8fbd-d5f9190b5245" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesDerivatives_4c115d96-c17a-4844-8045-6afef137f5b1" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxLiabilitiesPensionAndOtherPostretirementAssets_e3de725a-94dc-42de-9565-15b355ed4a06" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxLiabilitiesPensionAndOtherPostretirementAssets"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_57739cbb-aa38-4fef-8fbd-d5f9190b5245" xlink:to="loc_pnw_DeferredTaxLiabilitiesPensionAndOtherPostretirementAssets_e3de725a-94dc-42de-9565-15b355ed4a06" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAllowanceForEquityFundsUsedDuringConstruction_e2c62ac1-3989-4796-88e8-598451aeac6e" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxLiabilitiesRegulatoryAssetsAllowanceForEquityFundsUsedDuringConstruction"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_57739cbb-aa38-4fef-8fbd-d5f9190b5245" xlink:to="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAllowanceForEquityFundsUsedDuringConstruction_e2c62ac1-3989-4796-88e8-598451aeac6e" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPowerMarkToMarket_7b3a1098-a1d2-463f-b8e0-688c1aa8ddd5" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPowerMarkToMarket"/>

<link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_57739cbb-aa38-4fef-8fbd-d5f9190b5245" xlink:to="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPowerMarkToMarket_7b3a1098-a1d2-463f-b8e0-688c1aa8ddd5" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsPensionAndOtherPostretirementBenefits_40c5f984-8a1b-4ea9-ac4a-68a2a1f3fa22" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxLiabilitiesRegulatoryAssetsPensionAndOtherPostretirementBenefits"/>

<link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_57739cbb-aa38-4fef-8fbd-d5f9190b5245" xlink:to="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsPensionAndOtherPostretirementBenefits_40c5f984-8a1b-4ea9-ac4a-68a2a1f3fa22" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsRetiredPowerPlanCosts_5c61f09c-a2b4-4ffa-841f-c86f8be381e2" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxLiabilitiesRegulatoryAssetsRetiredPowerPlanCosts"/>

<link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_57739cbb-aa38-4fef-8fbd-d5f9190b5245" xlink:to="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsRetiredPowerPlanCosts_5c61f09c-a2b4-4ffa-841f-c86f8be381e2" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsOther_e70d4a6e-eae5-4b8d-a6f3-de249f80e16b" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxLiabilitiesRegulatoryAssetsOther"/>

<link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_57739cbb-aa38-4fef-8fbd-d5f9190b5245" xlink:to="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsOther_e70d4a6e-eae5-4b8d-a6f3-de249f80e16b" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesOther_cfdd8238-2ce4-41a7-acae-16df347683ce" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesOther"/>

<link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_57739cbb-aa38-4fef-8fbd-d5f9190b5245" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesOther_cfdd8238-2ce4-41a7-acae-16df347683ce" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxLiabilitiesOtherSpecialUseFunds_70880ee3-05f1-488e-ab39-feb0e4520132" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxLiabilitiesOtherSpecialUseFunds"/>

<link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_57739cbb-aa38-4fef-8fbd-d5f9190b5245" xlink:to="loc_pnw_DeferredTaxLiabilitiesOtherSpecialUseFunds_70880ee3-05f1-488e-ab39-feb0e4520132" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxLiabilitiesOperatingLeaseRightOfUseAssets_b36076ae-acb5-4db9-8acd-5652c06ba48d" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxLiabilitiesOperatingLeaseRightOfUseAssets"/>

<link:calculationArc order="11" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_57739cbb-aa38-4fef-8fbd-d5f9190b5245" xlink:to="loc_pnw_DeferredTaxLiabilitiesOperatingLeaseRightOfUseAssets_b36076ae-acb5-4db9-8acd-5652c06ba48d" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsNet_670db08c-0d62-431c-9519-2730a18b8ace" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsNet"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAssetRetirementObligationAndRemovalCosts_58f3434d-1e66-409e-9f43-46dcb26dc453" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxAssetsRegulatoryLiabilitiesAssetRetirementObligationAndRemovalCosts"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_670db08c-0d62-431c-9519-2730a18b8ace" xlink:to="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAssetRetirementObligationAndRemovalCosts_58f3434d-1e66-409e-9f43-46dcb26dc453" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesUnamortizedInvestmentTaxCredits_04513fe3-6911-4800-a8b8-0ae44b14fb43" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxAssetsRegulatoryLiabilitiesUnamortizedInvestmentTaxCredits"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_670db08c-0d62-431c-9519-2730a18b8ace" xlink:to="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesUnamortizedInvestmentTaxCredits_04513fe3-6911-4800-a8b8-0ae44b14fb43" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOtherPostretirementBenefits_919f1e95-a265-4e95-8f0a-7422dbb86427" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxAssetsRegulatoryLiabilitiesOtherPostretirementBenefits"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_670db08c-0d62-431c-9519-2730a18b8ace" xlink:to="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOtherPostretirementBenefits_919f1e95-a265-4e95-8f0a-7422dbb86427" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOther_1da5c79a-8825-4376-87c4-a88cdb2e9d7f" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxAssetsRegulatoryLiabilitiesOther"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_670db08c-0d62-431c-9519-2730a18b8ace" xlink:to="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOther_1da5c79a-8825-4376-87c4-a88cdb2e9d7f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsDerivativeInstruments_7b162cfa-149a-4796-b7b6-ba31a50ada8a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsDerivativeInstruments"/>

<link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_670db08c-0d62-431c-9519-2730a18b8ace" xlink:to="loc_us-gaap_DeferredTaxAssetsDerivativeInstruments_7b162cfa-149a-4796-b7b6-ba31a50ada8a" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_7d953159-7694-427a-82d5-b1835edb27cc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits"/>

<link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_670db08c-0d62-431c-9519-2730a18b8ace" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_7d953159-7694-427a-82d5-b1835edb27cc" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxAssetsRenewableEnergyIncentives_12384b53-2ef1-4a96-8680-90b6f7edc42e" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxAssetsRenewableEnergyIncentives"/>

<link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_670db08c-0d62-431c-9519-2730a18b8ace" xlink:to="loc_pnw_DeferredTaxAssetsRenewableEnergyIncentives_12384b53-2ef1-4a96-8680-90b6f7edc42e" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxAssetsCreditAndLossCarryforwards_b9d1933a-52e8-4059-98b7-faa0af055d8a" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxAssetsCreditAndLossCarryforwards"/>

<link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_670db08c-0d62-431c-9519-2730a18b8ace" xlink:to="loc_pnw_DeferredTaxAssetsCreditAndLossCarryforwards_b9d1933a-52e8-4059-98b7-faa0af055d8a" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsOther_407b64ae-50ad-4e1f-9882-48c68207b471" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOther"/>

<link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_670db08c-0d62-431c-9519-2730a18b8ace" xlink:to="loc_us-gaap_DeferredTaxAssetsOther_407b64ae-50ad-4e1f-9882-48c68207b471" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxAssetsExcessDeferredIncomeTaxes_501b7dd7-f8ad-44c8-85ed-5d9bbfe1b6f8" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxAssetsExcessDeferredIncomeTaxes"/>

<link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_670db08c-0d62-431c-9519-2730a18b8ace" xlink:to="loc_pnw_DeferredTaxAssetsExcessDeferredIncomeTaxes_501b7dd7-f8ad-44c8-85ed-5d9bbfe1b6f8" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxAssetsCoalReclamationLiabilities_df74bcaa-a22d-49e1-ace7-4abb3f84caac" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxAssetsCoalReclamationLiabilities"/>

<link:calculationArc order="11" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_670db08c-0d62-431c-9519-2730a18b8ace" xlink:to="loc_pnw_DeferredTaxAssetsCoalReclamationLiabilities_df74bcaa-a22d-49e1-ace7-4abb3f84caac" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DeferredTaxAssetsOperatingLeaseLiability_db34cd12-1de7-4791-834b-e05b29d8ebb3" xlink:href="pnw-20201231.xsd#pnw_DeferredTaxAssetsOperatingLeaseLiability"/>

<link:calculationArc order="12" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_670db08c-0d62-431c-9519-2730a18b8ace" xlink:to="loc_pnw_DeferredTaxAssetsOperatingLeaseLiability_db34cd12-1de7-4791-834b-e05b29d8ebb3" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/LinesofCreditandShortTermBorrowings" xlink:type="simple" xlink:href="pnw-20201231.xsd#LinesofCreditandShortTermBorrowings"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LinesofCreditandShortTermBorrowings" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/LinesofCreditandShortTermBorrowingsTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#LinesofCreditandShortTermBorrowingsTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LinesofCreditandShortTermBorrowingsTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/LinesofCreditandShortTermBorrowingsScheduleofCreditFacilitiesDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#LinesofCreditandShortTermBorrowingsScheduleofCreditFacilitiesDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LinesofCreditandShortTermBorrowingsScheduleofCreditFacilitiesDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_da2665ca-c10b-4893-8138-738331e74d23" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCredit_3f323df8-3aa5-411c-906f-2116ec1effaa" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCredit"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_da2665ca-c10b-4893-8138-738331e74d23" xlink:to="loc_us-gaap_LineOfCredit_3f323df8-3aa5-411c-906f-2116ec1effaa" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_4430236e-53bb-4540-a0b6-e630ebdb980c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_da2665ca-c10b-4893-8138-738331e74d23" xlink:to="loc_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_4430236e-53bb-4540-a0b6-e630ebdb980c" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/LinesofCreditandShortTermBorrowingsAdditionalInformationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#LinesofCreditandShortTermBorrowingsAdditionalInformationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LinesofCreditandShortTermBorrowingsAdditionalInformationDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/LongTermDebtandLiquidityMatters" xlink:type="simple" xlink:href="pnw-20201231.xsd#LongTermDebtandLiquidityMatters"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LongTermDebtandLiquidityMatters" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/LongTermDebtandLiquidityMattersTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#LongTermDebtandLiquidityMattersTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LongTermDebtandLiquidityMattersTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/LongTermDebtandLiquidityMattersComponentsofLongTermDebtDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#LongTermDebtandLiquidityMattersComponentsofLongTermDebtDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LongTermDebtandLiquidityMattersComponentsofLongTermDebtDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtAndCapitalLeaseObligations_0471b1dd-e17b-4342-9d7e-14b7fde3e5dc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtAndCapitalLeaseObligations"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_66f68554-06e3-4a3a-a839-23dc85bcbeea" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtAndCapitalLeaseObligations_0471b1dd-e17b-4342-9d7e-14b7fde3e5dc" xlink:to="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_66f68554-06e3-4a3a-a839-23dc85bcbeea" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_TotalLongTermDebtLessCurrentMaturities_d79a9bf0-1ed3-4747-b6f0-c8f15e312834" xlink:href="pnw-20201231.xsd#pnw_TotalLongTermDebtLessCurrentMaturities"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtAndCapitalLeaseObligations_0471b1dd-e17b-4342-9d7e-14b7fde3e5dc" xlink:to="loc_pnw_TotalLongTermDebtLessCurrentMaturities_d79a9bf0-1ed3-4747-b6f0-c8f15e312834" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/LongTermDebtandLiquidityMattersAdditionalInformationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#LongTermDebtandLiquidityMattersAdditionalInformationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LongTermDebtandLiquidityMattersAdditionalInformationDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/LongTermDebtandLiquidityMattersFuturePrincipalPaymentsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#LongTermDebtandLiquidityMattersFuturePrincipalPaymentsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LongTermDebtandLiquidityMattersFuturePrincipalPaymentsDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_12e39877-a507-4939-b834-24c03f82160f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_f96599f2-72d4-4826-9730-8f61ae3d1bf1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_12e39877-a507-4939-b834-24c03f82160f" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_f96599f2-72d4-4826-9730-8f61ae3d1bf1" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_8812e33d-a774-4bad-98d2-b06dfe4229ab" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_12e39877-a507-4939-b834-24c03f82160f" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_8812e33d-a774-4bad-98d2-b06dfe4229ab" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_1a2e5746-ad00-46bb-a500-4d06bbee533b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_12e39877-a507-4939-b834-24c03f82160f" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_1a2e5746-ad00-46bb-a500-4d06bbee533b" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_781a09fb-6660-45de-bcef-e68a7a1f7ce5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_12e39877-a507-4939-b834-24c03f82160f" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_781a09fb-6660-45de-bcef-e68a7a1f7ce5" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_d377a369-5925-4e75-9d65-a56a48fce3ef" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive"/>

<link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_12e39877-a507-4939-b834-24c03f82160f" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_d377a369-5925-4e75-9d65-a56a48fce3ef" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_cf04720b-69d3-426a-889c-a858f42e57ef" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive"/>

<link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_12e39877-a507-4939-b834-24c03f82160f" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_cf04720b-69d3-426a-889c-a858f42e57ef" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/LongTermDebtandLiquidityMattersFairValueofLongTermDebtDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#LongTermDebtandLiquidityMattersFairValueofLongTermDebtDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LongTermDebtandLiquidityMattersFairValueofLongTermDebtDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefits" xlink:type="simple" xlink:href="pnw-20201231.xsd#RetirementPlansandOtherPostretirementBenefits"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefits" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#RetirementPlansandOtherPostretirementBenefitsTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsAdditionalInformationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RetirementPlansandOtherPostretirementBenefitsAdditionalInformationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsAdditionalInformationDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsNetPeriodicBenefitCostsandPortionincludingPortionChargedtoExpenseDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RetirementPlansandOtherPostretirementBenefitsNetPeriodicBenefitCostsandPortionincludingPortionChargedtoExpenseDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsNetPeriodicBenefitCostsandPortionincludingPortionChargedtoExpenseDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_cb7c2284-065e-4a27-893e-5d1b81019e1c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanServiceCost_02c5244c-38a9-4c81-8995-e793ceb4593d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanServiceCost"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_cb7c2284-065e-4a27-893e-5d1b81019e1c" xlink:to="loc_us-gaap_DefinedBenefitPlanServiceCost_02c5244c-38a9-4c81-8995-e793ceb4593d" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanInterestCost_1bb4f682-6a20-442a-a8d4-b3161ab07aab" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanInterestCost"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_cb7c2284-065e-4a27-893e-5d1b81019e1c" xlink:to="loc_us-gaap_DefinedBenefitPlanInterestCost_1bb4f682-6a20-442a-a8d4-b3161ab07aab" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_fbc85e21-1369-4d13-9130-704287b3c054" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets"/>

<link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_cb7c2284-065e-4a27-893e-5d1b81019e1c" xlink:to="loc_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_fbc85e21-1369-4d13-9130-704287b3c054" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_1dda86ca-1b6d-4e74-b067-fc108e0a2694" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_cb7c2284-065e-4a27-893e-5d1b81019e1c" xlink:to="loc_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_1dda86ca-1b6d-4e74-b067-fc108e0a2694" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_d7874a97-5e4d-4198-bf01-c03cecb3278a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses"/>

<link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_cb7c2284-065e-4a27-893e-5d1b81019e1c" xlink:to="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_d7874a97-5e4d-4198-bf01-c03cecb3278a" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsChangesBenefitObligationsandFundedStatusDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RetirementPlansandOtherPostretirementBenefitsChangesBenefitObligationsandFundedStatusDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsChangesBenefitObligationsandFundedStatusDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanFundedStatusOfPlan_3e216804-4959-470b-80ab-e07824065ecd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanFundedStatusOfPlan"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanBenefitObligation_ca436a23-1caf-4ac5-adfc-a4837f25c5d6" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanBenefitObligation"/>

<link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanFundedStatusOfPlan_3e216804-4959-470b-80ab-e07824065ecd" xlink:to="loc_us-gaap_DefinedBenefitPlanBenefitObligation_ca436a23-1caf-4ac5-adfc-a4837f25c5d6" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_1d89a824-0a2f-4898-8fbb-4997f7958a53" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanFairValueOfPlanAssets"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanFundedStatusOfPlan_3e216804-4959-470b-80ab-e07824065ecd" xlink:to="loc_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_1d89a824-0a2f-4898-8fbb-4997f7958a53" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsProjectedBenefitObligationforPensionPlansDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RetirementPlansandOtherPostretirementBenefitsProjectedBenefitObligationforPensionPlansDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsProjectedBenefitObligationforPensionPlansDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsAmountsRecognizedontheConsolidatedBalanceSheetsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RetirementPlansandOtherPostretirementBenefitsAmountsRecognizedontheConsolidatedBalanceSheetsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsAmountsRecognizedontheConsolidatedBalanceSheetsDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet_7de8e658-a26a-403a-aaff-944a9f9ea01e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_463c0da5-7df5-40bf-ab47-a415f7943cdc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet_7de8e658-a26a-403a-aaff-944a9f9ea01e" xlink:to="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_463c0da5-7df5-40bf-ab47-a415f7943cdc" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities_67665fa1-d85c-4ff7-816a-91f36d4d66b3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet_7de8e658-a26a-403a-aaff-944a9f9ea01e" xlink:to="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities_67665fa1-d85c-4ff7-816a-91f36d4d66b3" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent_40bc8315-c3f8-4dd3-a597-7eae17b6585b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent"/>

<link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet_7de8e658-a26a-403a-aaff-944a9f9ea01e" xlink:to="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent_40bc8315-c3f8-4dd3-a597-7eae17b6585b" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsImpacttoAccumulatedOtherComprehensiveLossDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RetirementPlansandOtherPostretirementBenefitsImpacttoAccumulatedOtherComprehensiveLossDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsImpacttoAccumulatedOtherComprehensiveLossDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_d48577ba-97a2-4623-ae7d-2e51c0c21edd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax_62414ad7-cf37-4564-856d-7b539198d66f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax"/>

<link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_d48577ba-97a2-4623-ae7d-2e51c0c21edd" xlink:to="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax_62414ad7-cf37-4564-856d-7b539198d66f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax_dbc52cfb-a6dd-4242-b074-456a953a6ac2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_d48577ba-97a2-4623-ae7d-2e51c0c21edd" xlink:to="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax_dbc52cfb-a6dd-4242-b074-456a953a6ac2" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeRegulatoryAsset_dfa9f29a-904d-4433-90ad-1c1bd878cd9d" xlink:href="pnw-20201231.xsd#pnw_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeRegulatoryAsset"/>

<link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_d48577ba-97a2-4623-ae7d-2e51c0c21edd" xlink:to="loc_pnw_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeRegulatoryAsset_dfa9f29a-904d-4433-90ad-1c1bd878cd9d" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTax_95bc94c1-5b84-49b2-990c-408f7207960c" xlink:href="pnw-20201231.xsd#pnw_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTax"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_d48577ba-97a2-4623-ae7d-2e51c0c21edd" xlink:to="loc_pnw_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTax_95bc94c1-5b84-49b2-990c-408f7207960c" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsWeightedAverageAssumptionsforPensionsandOtherBenefitsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RetirementPlansandOtherPostretirementBenefitsWeightedAverageAssumptionsforPensionsandOtherBenefitsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsWeightedAverageAssumptionsforPensionsandOtherBenefitsDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsAssetAllocationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RetirementPlansandOtherPostretirementBenefitsAssetAllocationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsAssetAllocationDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsFairValueofPinnacleWestsPensionPlanDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RetirementPlansandOtherPostretirementBenefitsFairValueofPinnacleWestsPensionPlanDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsFairValueofPinnacleWestsPensionPlanDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsEstimatedFutureBenefitPaymentsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#RetirementPlansandOtherPostretirementBenefitsEstimatedFutureBenefitPaymentsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/RetirementPlansandOtherPostretirementBenefitsEstimatedFutureBenefitPaymentsDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/Leases" xlink:type="simple" xlink:href="pnw-20201231.xsd#Leases"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/Leases" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/LeasesTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#LeasesTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LeasesTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/LeasesAdditionalinformationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#LeasesAdditionalinformationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LeasesAdditionalinformationDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/LeasesLeasecostsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#LeasesLeasecostsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LeasesLeasecostsDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseCost_8a68878d-d1b1-4653-83da-3e5b5d081406" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseCost"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseCost_b2c5df1b-0005-42c2-99f7-b0c5eff3b2cd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseCost"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_8a68878d-d1b1-4653-83da-3e5b5d081406" xlink:to="loc_us-gaap_OperatingLeaseCost_b2c5df1b-0005-42c2-99f7-b0c5eff3b2cd" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableLeaseCost_4a8e9801-ac1b-42c2-94d6-3b68f2a4f5e3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableLeaseCost"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_8a68878d-d1b1-4653-83da-3e5b5d081406" xlink:to="loc_us-gaap_VariableLeaseCost_4a8e9801-ac1b-42c2-94d6-3b68f2a4f5e3" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShortTermLeaseCost_513cdd22-6d3e-41b2-8177-e8099264d83f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShortTermLeaseCost"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_8a68878d-d1b1-4653-83da-3e5b5d081406" xlink:to="loc_us-gaap_ShortTermLeaseCost_513cdd22-6d3e-41b2-8177-e8099264d83f" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/LeasesMaturityofouroperatingleaseliabilitiesDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#LeasesMaturityofouroperatingleaseliabilitiesDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LeasesMaturityofouroperatingleaseliabilitiesDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_b77c4983-5405-4c34-bf77-040a192f60c8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_1042169c-ab6f-4b52-a3d3-2d046fca7f74" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_b77c4983-5405-4c34-bf77-040a192f60c8" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_1042169c-ab6f-4b52-a3d3-2d046fca7f74" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_e1fbb47a-1f5e-40e2-8faa-4c3393f71596" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_b77c4983-5405-4c34-bf77-040a192f60c8" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_e1fbb47a-1f5e-40e2-8faa-4c3393f71596" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_a48f50d5-751d-4fef-9bfa-79d3f3516220" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_b77c4983-5405-4c34-bf77-040a192f60c8" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_a48f50d5-751d-4fef-9bfa-79d3f3516220" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_1595a5a9-f4d8-42a4-88ac-c62133fd1219" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_b77c4983-5405-4c34-bf77-040a192f60c8" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_1595a5a9-f4d8-42a4-88ac-c62133fd1219" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_f6028246-cc02-427c-9271-16b5ce09be59" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive"/>

<link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_b77c4983-5405-4c34-bf77-040a192f60c8" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_f6028246-cc02-427c-9271-16b5ce09be59" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_f277a3f8-e209-469f-8d05-6e836ac45195" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive"/>

<link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_b77c4983-5405-4c34-bf77-040a192f60c8" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_f277a3f8-e209-469f-8d05-6e836ac45195" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/LeasesMaturityofouroperatingleaseliabilitiesDetails_1" xlink:type="simple" xlink:href="pnw-20201231.xsd#LeasesMaturityofouroperatingleaseliabilitiesDetails_1"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LeasesMaturityofouroperatingleaseliabilitiesDetails_1" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_598071e6-bd1c-48f1-85d2-8a24607de85e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_9ed27e3a-077d-49a3-a2c7-fb3e252a79a1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_598071e6-bd1c-48f1-85d2-8a24607de85e" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_9ed27e3a-077d-49a3-a2c7-fb3e252a79a1" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiability_82e021a8-7d59-4448-991f-be74d92025da" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiability"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_598071e6-bd1c-48f1-85d2-8a24607de85e" xlink:to="loc_us-gaap_OperatingLeaseLiability_82e021a8-7d59-4448-991f-be74d92025da" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/LeasesOtheradditionalinformationrelatedtooperatingleaseliabilitiesDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#LeasesOtheradditionalinformationrelatedtooperatingleaseliabilitiesDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/LeasesOtheradditionalinformationrelatedtooperatingleaseliabilitiesDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/JointlyOwnedFacilities" xlink:type="simple" xlink:href="pnw-20201231.xsd#JointlyOwnedFacilities"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/JointlyOwnedFacilities" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/JointlyOwnedFacilitiesTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#JointlyOwnedFacilitiesTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/JointlyOwnedFacilitiesTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/JointlyOwnedFacilitiesDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#JointlyOwnedFacilitiesDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/JointlyOwnedFacilitiesDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/CommitmentsandContingencies" xlink:type="simple" xlink:href="pnw-20201231.xsd#CommitmentsandContingencies"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CommitmentsandContingencies" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/CommitmentsandContingenciesTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#CommitmentsandContingenciesTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CommitmentsandContingenciesTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/CommitmentsandContingenciesPaloVerdeNuclearGeneratingStationandContractualObligationsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#CommitmentsandContingenciesPaloVerdeNuclearGeneratingStationandContractualObligationsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CommitmentsandContingenciesPaloVerdeNuclearGeneratingStationandContractualObligationsDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/CommitmentsandContingenciesSuperfundRelatedMattersandSouthwestPowerOutageDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#CommitmentsandContingenciesSuperfundRelatedMattersandSouthwestPowerOutageDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CommitmentsandContingenciesSuperfundRelatedMattersandSouthwestPowerOutageDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/CommitmentsandContingenciesEnvironmentalMattersandFinancialAssurancesDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#CommitmentsandContingenciesEnvironmentalMattersandFinancialAssurancesDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/CommitmentsandContingenciesEnvironmentalMattersandFinancialAssurancesDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/AssetRetirementObligations" xlink:type="simple" xlink:href="pnw-20201231.xsd#AssetRetirementObligations"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/AssetRetirementObligations" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/AssetRetirementObligationsTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#AssetRetirementObligationsTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/AssetRetirementObligationsTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/AssetRetirementObligationsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#AssetRetirementObligationsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/AssetRetirementObligationsDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/FairValueMeasurements" xlink:type="simple" xlink:href="pnw-20201231.xsd#FairValueMeasurements"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/FairValueMeasurements" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/FairValueMeasurementsTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#FairValueMeasurementsTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/FairValueMeasurementsTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/FairValueMeasurementsFairValueofAssetsandLiabilitiesDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#FairValueMeasurementsFairValueofAssetsandLiabilitiesDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/FairValueMeasurementsFairValueofAssetsandLiabilitiesDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsFairValueDisclosure_717754ad-5730-4ba9-8b62-59cbf17b1c44" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsFairValueDisclosure"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_SpecialUseFundInvestmentsOtherGrossFairValue_8e266c22-e545-4ae4-a946-629cba3d3e84" xlink:href="pnw-20201231.xsd#pnw_SpecialUseFundInvestmentsOtherGrossFairValue"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_717754ad-5730-4ba9-8b62-59cbf17b1c44" xlink:to="loc_pnw_SpecialUseFundInvestmentsOtherGrossFairValue_8e266c22-e545-4ae4-a946-629cba3d3e84" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeAsset_7671dc78-f486-44cf-a345-59fa55146f2c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeAsset"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_717754ad-5730-4ba9-8b62-59cbf17b1c44" xlink:to="loc_us-gaap_DerivativeFairValueOfDerivativeAsset_7671dc78-f486-44cf-a345-59fa55146f2c" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DecommissioningTrustAssetsAmount_b85ed517-3c51-4837-ac3d-7b2c971428ec" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DecommissioningTrustAssetsAmount"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_717754ad-5730-4ba9-8b62-59cbf17b1c44" xlink:to="loc_us-gaap_DecommissioningTrustAssetsAmount_b85ed517-3c51-4837-ac3d-7b2c971428ec" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_AssetsFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases_a70e34e4-d6f5-4b8b-a71f-643b9a95c880" xlink:href="pnw-20201231.xsd#pnw_AssetsFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetFairValueGrossLiability_201903f6-717c-450c-a8ea-85a075bb9ad4" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeAssetFairValueGrossLiability"/>

<link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_AssetsFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases_a70e34e4-d6f5-4b8b-a71f-643b9a95c880" xlink:to="loc_us-gaap_DerivativeAssetFairValueGrossLiability_201903f6-717c-450c-a8ea-85a075bb9ad4" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DecommissioningFundInvestmentsFairValueNetPendingSecuritiesSalesandPurchases_456166cb-75b9-4d3b-b81f-b2cbff598b5b" xlink:href="pnw-20201231.xsd#pnw_DecommissioningFundInvestmentsFairValueNetPendingSecuritiesSalesandPurchases"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_AssetsFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases_a70e34e4-d6f5-4b8b-a71f-643b9a95c880" xlink:to="loc_pnw_DecommissioningFundInvestmentsFairValueNetPendingSecuritiesSalesandPurchases_456166cb-75b9-4d3b-b81f-b2cbff598b5b" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_SpecialUseFundInvestmentsOtherNetFairValuePendingSalesandPurchases_afed1223-360d-40e5-876f-cd0d68cfea39" xlink:href="pnw-20201231.xsd#pnw_SpecialUseFundInvestmentsOtherNetFairValuePendingSalesandPurchases"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_AssetsFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases_a70e34e4-d6f5-4b8b-a71f-643b9a95c880" xlink:to="loc_pnw_SpecialUseFundInvestmentsOtherNetFairValuePendingSalesandPurchases_afed1223-360d-40e5-876f-cd0d68cfea39" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/FairValueMeasurementsAdditionalInformationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#FairValueMeasurementsAdditionalInformationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/FairValueMeasurementsAdditionalInformationDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/EarningsPerShare" xlink:type="simple" xlink:href="pnw-20201231.xsd#EarningsPerShare"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/EarningsPerShare" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/EarningsPerShareTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#EarningsPerShareTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/EarningsPerShareTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/EarningsPerShareDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#EarningsPerShareDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/EarningsPerShareDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_9840cf74-2b96-4f2f-843a-553c12452342" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_f6f0ff9f-2878-4c14-855c-d91dbc71a1eb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_9840cf74-2b96-4f2f-843a-553c12452342" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_f6f0ff9f-2878-4c14-855c-d91dbc71a1eb" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesRestrictedStock_938b1ce4-ac74-41f5-97ab-7ab2641f1dc1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesRestrictedStock"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_9840cf74-2b96-4f2f-843a-553c12452342" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesRestrictedStock_938b1ce4-ac74-41f5-97ab-7ab2641f1dc1" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/StockBasedCompensation" xlink:type="simple" xlink:href="pnw-20201231.xsd#StockBasedCompensation"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/StockBasedCompensation" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/StockBasedCompensationTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#StockBasedCompensationTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/StockBasedCompensationTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/StockBasedCompensationAdditionalInformationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#StockBasedCompensationAdditionalInformationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/StockBasedCompensationAdditionalInformationDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/StockBasedCompensationSummaryofRestrictedStockStockGrantsStockUnitsandPerformanceSharesDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#StockBasedCompensationSummaryofRestrictedStockStockGrantsStockUnitsandPerformanceSharesDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/StockBasedCompensationSummaryofRestrictedStockStockGrantsStockUnitsandPerformanceSharesDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/StockBasedCompensationStatusofNonvestedRestrictedStockStockGrantsStockUnitsandPerformanceSharesDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#StockBasedCompensationStatusofNonvestedRestrictedStockStockGrantsStockUnitsandPerformanceSharesDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/StockBasedCompensationStatusofNonvestedRestrictedStockStockGrantsStockUnitsandPerformanceSharesDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/DerivativeAccounting" xlink:type="simple" xlink:href="pnw-20201231.xsd#DerivativeAccounting"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/DerivativeAccounting" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/DerivativeAccountingTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#DerivativeAccountingTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/DerivativeAccountingTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/DerivativeAccountingAdditionalInformationDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#DerivativeAccountingAdditionalInformationDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/DerivativeAccountingAdditionalInformationDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/DerivativeAccountingOutstandingGrossNotionalAmountsOutstandingDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#DerivativeAccountingOutstandingGrossNotionalAmountsOutstandingDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/DerivativeAccountingOutstandingGrossNotionalAmountsOutstandingDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/DerivativeAccountingGainsandLossesfromDerivativeInstrumentsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#DerivativeAccountingGainsandLossesfromDerivativeInstrumentsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/DerivativeAccountingGainsandLossesfromDerivativeInstrumentsDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/DerivativeAccountingDerivativeInstrumentsintheBalanceSheetDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#DerivativeAccountingDerivativeInstrumentsintheBalanceSheetDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/DerivativeAccountingDerivativeInstrumentsintheBalanceSheetDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetsLiabilitiesAtFairValueNet_a945f66c-a713-4796-ac97-f7289645794e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeAssetsLiabilitiesAtFairValueNet"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DerivativeAssetLiabilityFairValueAmountNotOffsetAgainstCollateral_2261aaa4-fe4e-4ae6-a790-cdbdd9fca45d" xlink:href="pnw-20201231.xsd#pnw_DerivativeAssetLiabilityFairValueAmountNotOffsetAgainstCollateral"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeAssetsLiabilitiesAtFairValueNet_a945f66c-a713-4796-ac97-f7289645794e" xlink:to="loc_pnw_DerivativeAssetLiabilityFairValueAmountNotOffsetAgainstCollateral_2261aaa4-fe4e-4ae6-a790-cdbdd9fca45d" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DerivativeAssetLiabilityAmountNotOffsetAgainstCollateral_88251516-fd36-4ee5-b93c-62e00f65ea38" xlink:href="pnw-20201231.xsd#pnw_DerivativeAssetLiabilityAmountNotOffsetAgainstCollateral"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeAssetsLiabilitiesAtFairValueNet_a945f66c-a713-4796-ac97-f7289645794e" xlink:to="loc_pnw_DerivativeAssetLiabilityAmountNotOffsetAgainstCollateral_88251516-fd36-4ee5-b93c-62e00f65ea38" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_3d5ed617-06c5-403c-8802-a0fb58e3b480" xlink:href="pnw-20201231.xsd#pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset_b292e2fc-95d1-4be4-a751-783723bd0da5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_3d5ed617-06c5-403c-8802-a0fb58e3b480" xlink:to="loc_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset_b292e2fc-95d1-4be4-a751-783723bd0da5" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset_bbd97ea6-1aac-402f-9165-3d1406339a43" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_3d5ed617-06c5-403c-8802-a0fb58e3b480" xlink:to="loc_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset_bbd97ea6-1aac-402f-9165-3d1406339a43" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_53fd818f-d287-492b-a9b2-ad0591d299b4" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeLiability_3aa96ce4-287f-4535-9db7-19eb3c67918a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeLiability"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_53fd818f-d287-492b-a9b2-ad0591d299b4" xlink:to="loc_us-gaap_DerivativeFairValueOfDerivativeLiability_3aa96ce4-287f-4535-9db7-19eb3c67918a" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset_ad34480c-80ce-4af2-813e-69a00a81cc77" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_53fd818f-d287-492b-a9b2-ad0591d299b4" xlink:to="loc_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset_ad34480c-80ce-4af2-813e-69a00a81cc77" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DerivativeAssetLiabilityFairValueAmountNotOffsetAgainstCollateral_c7490eed-da00-4815-a4a9-0315b1ad69a6" xlink:href="pnw-20201231.xsd#pnw_DerivativeAssetLiabilityFairValueAmountNotOffsetAgainstCollateral"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DerivativeAssetLiabilityFairValueGrossAssetLiability_c6663706-c491-45e0-8b4b-2881cd233b48" xlink:href="pnw-20201231.xsd#pnw_DerivativeAssetLiabilityFairValueGrossAssetLiability"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_DerivativeAssetLiabilityFairValueAmountNotOffsetAgainstCollateral_c7490eed-da00-4815-a4a9-0315b1ad69a6" xlink:to="loc_pnw_DerivativeAssetLiabilityFairValueGrossAssetLiability_c6663706-c491-45e0-8b4b-2881cd233b48" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_b1b84c8e-0689-4c89-94b0-4457cb1db474" xlink:href="pnw-20201231.xsd#pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_DerivativeAssetLiabilityFairValueAmountNotOffsetAgainstCollateral_c7490eed-da00-4815-a4a9-0315b1ad69a6" xlink:to="loc_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_b1b84c8e-0689-4c89-94b0-4457cb1db474" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilities_ddf5ff64-cde4-4993-a61c-0abf8ae3715b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeLiabilities"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_e5613ca0-ab53-44d6-9b06-271affcac930" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeLiabilities_ddf5ff64-cde4-4993-a61c-0abf8ae3715b" xlink:to="loc_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_e5613ca0-ab53-44d6-9b06-271affcac930" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement_1c7cf820-f986-4836-a934-f1d9f99a17f9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeLiabilities_ddf5ff64-cde4-4993-a61c-0abf8ae3715b" xlink:to="loc_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement_1c7cf820-f986-4836-a934-f1d9f99a17f9" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssets_83914d23-7a8d-4d48-92d6-124956ce43de" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeAssets"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_79b8176c-66d8-4d6d-9173-e556386672f7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeAssets_83914d23-7a8d-4d48-92d6-124956ce43de" xlink:to="loc_us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_79b8176c-66d8-4d6d-9173-e556386672f7" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement_20924fb8-625f-4438-9f32-b6ce0a9f32eb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeAssets_83914d23-7a8d-4d48-92d6-124956ce43de" xlink:to="loc_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement_20924fb8-625f-4438-9f32-b6ce0a9f32eb" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_DerivativeAssetLiabilityAmountNotOffsetAgainstCollateral_6a4433c5-8e61-4b10-b1ae-58f36c67c08c" xlink:href="pnw-20201231.xsd#pnw_DerivativeAssetLiabilityAmountNotOffsetAgainstCollateral"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement_9cf2e8a9-e2c7-4b17-9357-5358743c012f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_DerivativeAssetLiabilityAmountNotOffsetAgainstCollateral_6a4433c5-8e61-4b10-b1ae-58f36c67c08c" xlink:to="loc_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement_9cf2e8a9-e2c7-4b17-9357-5358743c012f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement_e1c7f550-3c07-4c88-bab9-154fcdf1a4dd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_DerivativeAssetLiabilityAmountNotOffsetAgainstCollateral_6a4433c5-8e61-4b10-b1ae-58f36c67c08c" xlink:to="loc_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement_e1c7f550-3c07-4c88-bab9-154fcdf1a4dd" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_1f84a473-8ffd-46b8-bb62-c7bc2d7817d1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeAsset_fa9a4988-4084-4e31-866c-d2b6bbac55fd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeAsset"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_1f84a473-8ffd-46b8-bb62-c7bc2d7817d1" xlink:to="loc_us-gaap_DerivativeFairValueOfDerivativeAsset_fa9a4988-4084-4e31-866c-d2b6bbac55fd" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset_2f9ba5e7-8ed2-44e6-ab00-fea74b38b835" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_1f84a473-8ffd-46b8-bb62-c7bc2d7817d1" xlink:to="loc_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset_2f9ba5e7-8ed2-44e6-ab00-fea74b38b835" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/DerivativeAccountingCreditRiskandRelatedContingentFeaturesDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#DerivativeAccountingCreditRiskandRelatedContingentFeaturesDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/DerivativeAccountingCreditRiskandRelatedContingentFeaturesDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/OtherIncomeandOtherExpense" xlink:type="simple" xlink:href="pnw-20201231.xsd#OtherIncomeandOtherExpense"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/OtherIncomeandOtherExpense" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/OtherIncomeandOtherExpenseTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#OtherIncomeandOtherExpenseTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/OtherIncomeandOtherExpenseTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/OtherIncomeandOtherExpenseDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#OtherIncomeandOtherExpenseDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/OtherIncomeandOtherExpenseDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncome_22e7ee8f-6b81-469e-9f79-6d1ec444c325" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNonoperatingIncome"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentIncomeInterest_209b64a6-26ba-4b6f-8905-e7a9637cde05" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentIncomeInterest"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherNonoperatingIncome_22e7ee8f-6b81-469e-9f79-6d1ec444c325" xlink:to="loc_us-gaap_InvestmentIncomeInterest_209b64a6-26ba-4b6f-8905-e7a9637cde05" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainOnSaleOfInvestments_6efd70da-aaa9-4162-aa1c-24bad0995cea" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GainOnSaleOfInvestments"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherNonoperatingIncome_22e7ee8f-6b81-469e-9f79-6d1ec444c325" xlink:to="loc_us-gaap_GainOnSaleOfInvestments_6efd70da-aaa9-4162-aa1c-24bad0995cea" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_MiscellaneousOtherNonoperatingIncome_79705c34-ecf5-4859-9ecc-ae435e66603c" xlink:href="pnw-20201231.xsd#pnw_MiscellaneousOtherNonoperatingIncome"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherNonoperatingIncome_22e7ee8f-6b81-469e-9f79-6d1ec444c325" xlink:to="loc_pnw_MiscellaneousOtherNonoperatingIncome_79705c34-ecf5-4859-9ecc-ae435e66603c" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_RegulatoryCostRecoveryIncomeDebtDeferralRefunded_9785fd32-b725-4437-a1f4-5eba2d05e683" xlink:href="pnw-20201231.xsd#pnw_RegulatoryCostRecoveryIncomeDebtDeferralRefunded"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherNonoperatingIncome_22e7ee8f-6b81-469e-9f79-6d1ec444c325" xlink:to="loc_pnw_RegulatoryCostRecoveryIncomeDebtDeferralRefunded_9785fd32-b725-4437-a1f4-5eba2d05e683" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingExpense_70bfc68e-c8ec-4eef-a0f6-3fa2bef64d69" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNonoperatingExpense"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_NonoperatingCosts_871529a0-3a66-4164-9a8c-8a3058d02f1f" xlink:href="pnw-20201231.xsd#pnw_NonoperatingCosts"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherNonoperatingExpense_70bfc68e-c8ec-4eef-a0f6-3fa2bef64d69" xlink:to="loc_pnw_NonoperatingCosts_871529a0-3a66-4164-9a8c-8a3058d02f1f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_MiscellaneousOtherNonoperatingExpense_57b0414b-55a8-4fd4-9a74-b19e0f510f2f" xlink:href="pnw-20201231.xsd#pnw_MiscellaneousOtherNonoperatingExpense"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherNonoperatingExpense_70bfc68e-c8ec-4eef-a0f6-3fa2bef64d69" xlink:to="loc_pnw_MiscellaneousOtherNonoperatingExpense_57b0414b-55a8-4fd4-9a74-b19e0f510f2f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LossOnSaleOfInvestments_5bc2d1f5-e338-4b5d-aca3-0373fe315ce8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LossOnSaleOfInvestments"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherNonoperatingExpense_70bfc68e-c8ec-4eef-a0f6-3fa2bef64d69" xlink:to="loc_us-gaap_LossOnSaleOfInvestments_5bc2d1f5-e338-4b5d-aca3-0373fe315ce8" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/PaloVerdeSaleLeasebackVariableInterestEntities" xlink:type="simple" xlink:href="pnw-20201231.xsd#PaloVerdeSaleLeasebackVariableInterestEntities"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/PaloVerdeSaleLeasebackVariableInterestEntities" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/PaloVerdeSaleLeasebackVariableInterestEntitiesTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#PaloVerdeSaleLeasebackVariableInterestEntitiesTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/PaloVerdeSaleLeasebackVariableInterestEntitiesTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/PaloVerdeSaleLeasebackVariableInterestEntitiesDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#PaloVerdeSaleLeasebackVariableInterestEntitiesDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/PaloVerdeSaleLeasebackVariableInterestEntitiesDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/PaloVerdeSaleLeasebackVariableInterestEntitiesScheduleofVIEsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#PaloVerdeSaleLeasebackVariableInterestEntitiesScheduleofVIEsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/PaloVerdeSaleLeasebackVariableInterestEntitiesScheduleofVIEsDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/InvestmentsinNuclearDecommissioningTrustsandOtherSpecialUseFunds" xlink:type="simple" xlink:href="pnw-20201231.xsd#InvestmentsinNuclearDecommissioningTrustsandOtherSpecialUseFunds"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/InvestmentsinNuclearDecommissioningTrustsandOtherSpecialUseFunds" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/InvestmentsinNuclearDecommissioningTrustsandOtherSpecialUseFundsTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#InvestmentsinNuclearDecommissioningTrustsandOtherSpecialUseFundsTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/InvestmentsinNuclearDecommissioningTrustsandOtherSpecialUseFundsTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/InvestmentsinNuclearDecommissioningTrustsandOtherSpecialUseFundsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#InvestmentsinNuclearDecommissioningTrustsandOtherSpecialUseFundsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/InvestmentsinNuclearDecommissioningTrustsandOtherSpecialUseFundsDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate_a4a268c2-0745-48d0-875d-02ebe70dd23d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_dec44854-4658-43c7-aa36-4057f02fdcba" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate_a4a268c2-0745-48d0-875d-02ebe70dd23d" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_dec44854-4658-43c7-aa36-4057f02fdcba" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_add83859-4d08-4885-a3ab-9a094826302f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate_a4a268c2-0745-48d0-875d-02ebe70dd23d" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_add83859-4d08-4885-a3ab-9a094826302f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_eab34bcf-a09a-4f70-a01c-7293736bef06" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate_a4a268c2-0745-48d0-875d-02ebe70dd23d" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_eab34bcf-a09a-4f70-a01c-7293736bef06" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_29953ed0-73ae-492e-b78d-35d1c6a4c5aa" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate_a4a268c2-0745-48d0-875d-02ebe70dd23d" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_29953ed0-73ae-492e-b78d-35d1c6a4c5aa" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/ChangesinAccumulatedOtherComprehensiveLoss" xlink:type="simple" xlink:href="pnw-20201231.xsd#ChangesinAccumulatedOtherComprehensiveLoss"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/ChangesinAccumulatedOtherComprehensiveLoss" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/ChangesinAccumulatedOtherComprehensiveLossTables" xlink:type="simple" xlink:href="pnw-20201231.xsd#ChangesinAccumulatedOtherComprehensiveLossTables"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/ChangesinAccumulatedOtherComprehensiveLossTables" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/ChangesinAccumulatedOtherComprehensiveLossDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#ChangesinAccumulatedOtherComprehensiveLossDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/ChangesinAccumulatedOtherComprehensiveLossDetails" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/SCHEDULEICONDENSEDFINANCIALINFORMATIONOFREGISTRANT" xlink:type="simple" xlink:href="pnw-20201231.xsd#SCHEDULEICONDENSEDFINANCIALINFORMATIONOFREGISTRANT"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/SCHEDULEICONDENSEDFINANCIALINFORMATIONOFREGISTRANT" xlink:type="extended"/>

<link:roleRef roleURI="http://pinnaclewest.com/role/SCHEDULEICONDENSEDFINANCIALINFORMATIONOFREGISTRANTComprehensiveIncomeDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#SCHEDULEICONDENSEDFINANCIALINFORMATIONOFREGISTRANTComprehensiveIncomeDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/SCHEDULEICONDENSEDFINANCIALINFORMATIONOFREGISTRANTComprehensiveIncomeDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_cddb00cc-1b0c-4830-9447-5f6f6a8d218e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_c4666c8f-a49f-45ae-b269-8cfba4fe6441" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_cddb00cc-1b0c-4830-9447-5f6f6a8d218e" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_c4666c8f-a49f-45ae-b269-8cfba4fe6441" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_7a0946c1-08f5-4b10-af6e-be4a05519cb8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_cddb00cc-1b0c-4830-9447-5f6f6a8d218e" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_7a0946c1-08f5-4b10-af6e-be4a05519cb8" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpense_c568c66b-c4b1-4204-ab45-214ea94baaaf" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NonoperatingIncomeExpense"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_EquityInEarningsLossesOfSubsidiaries_6909834e-3208-4d9b-8463-13d27f5d35ca" xlink:href="pnw-20201231.xsd#pnw_EquityInEarningsLossesOfSubsidiaries"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_c568c66b-c4b1-4204-ab45-214ea94baaaf" xlink:to="loc_pnw_EquityInEarningsLossesOfSubsidiaries_6909834e-3208-4d9b-8463-13d27f5d35ca" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncomeExpense_6c66eeac-0a22-41e1-a3c7-f3ac05f736d9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_c568c66b-c4b1-4204-ab45-214ea94baaaf" xlink:to="loc_us-gaap_OtherNonoperatingIncomeExpense_6c66eeac-0a22-41e1-a3c7-f3ac05f736d9" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_51fa666b-45a7-48e3-8a44-ffcb12bdd8d3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_431a4f50-3e1d-43f0-9e8f-038e568cd249" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_51fa666b-45a7-48e3-8a44-ffcb12bdd8d3" xlink:to="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_431a4f50-3e1d-43f0-9e8f-038e568cd249" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_990b967b-2300-40b9-8e30-15b3af60f91e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_51fa666b-45a7-48e3-8a44-ffcb12bdd8d3" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_990b967b-2300-40b9-8e30-15b3af60f91e" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/SCHEDULEICONDENSEDFINANCIALINFORMATIONOFREGISTRANTBalanceSheetsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#SCHEDULEICONDENSEDFINANCIALINFORMATIONOFREGISTRANTBalanceSheetsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/SCHEDULEICONDENSEDFINANCIALINFORMATIONOFREGISTRANTBalanceSheetsDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_pnw_TotalInvestmentsAndOtherAssets_0c6a06d0-0f22-4da1-98c7-590f493618f9" xlink:href="pnw-20201231.xsd#pnw_TotalInvestmentsAndOtherAssets"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_InvestmentInSubsidiaries_f716e858-9b1d-4f97-9634-1471d5189d55" xlink:href="pnw-20201231.xsd#pnw_InvestmentInSubsidiaries"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_TotalInvestmentsAndOtherAssets_0c6a06d0-0f22-4da1-98c7-590f493618f9" xlink:to="loc_pnw_InvestmentInSubsidiaries_f716e858-9b1d-4f97-9634-1471d5189d55" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssetsNoncurrent_4c4759a6-0293-4df5-9c5e-f8c1bd42844f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsNoncurrent"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_TotalInvestmentsAndOtherAssets_0c6a06d0-0f22-4da1-98c7-590f493618f9" xlink:to="loc_us-gaap_OtherAssetsNoncurrent_4c4759a6-0293-4df5-9c5e-f8c1bd42844f" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxAssetsNet_646f0ad0-b0fb-4594-a0e2-f8f765b957d8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxAssetsNet"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pnw_TotalInvestmentsAndOtherAssets_0c6a06d0-0f22-4da1-98c7-590f493618f9" xlink:to="loc_us-gaap_DeferredIncomeTaxAssetsNet_646f0ad0-b0fb-4594-a0e2-f8f765b957d8" xlink:type="arc"/>

</link:calculationLink>

<link:roleRef roleURI="http://pinnaclewest.com/role/SCHEDULEICONDENSEDFINANCIALINFORMATIONOFREGISTRANTCashFlowsDetails" xlink:type="simple" xlink:href="pnw-20201231.xsd#SCHEDULEICONDENSEDFINANCIALINFORMATIONOFREGISTRANTCashFlowsDetails"/>

<link:calculationLink xlink:role="http://pinnaclewest.com/role/SCHEDULEICONDENSEDFINANCIALINFORMATIONOFREGISTRANTCashFlowsDetails" xlink:type="extended">

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_318fef89-3206-4739-aa7f-2beb4dcaad1e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_PaymentsToConsolidatedSubsidiaries_82502a54-dfd9-4bce-88cc-a014b365520c" xlink:href="pnw-20201231.xsd#pnw_PaymentsToConsolidatedSubsidiaries"/>

<link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_318fef89-3206-4739-aa7f-2beb4dcaad1e" xlink:to="loc_pnw_PaymentsToConsolidatedSubsidiaries_82502a54-dfd9-4bce-88cc-a014b365520c" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_RepaymentsOfLoansFromSubsidiaries_f4039d03-bcb5-4d56-8225-365d112114d5" xlink:href="pnw-20201231.xsd#pnw_RepaymentsOfLoansFromSubsidiaries"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_318fef89-3206-4739-aa7f-2beb4dcaad1e" xlink:to="loc_pnw_RepaymentsOfLoansFromSubsidiaries_f4039d03-bcb5-4d56-8225-365d112114d5" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_AdvancesOfLoansToSubsidiaries_a2c27c8f-6f72-4e46-b87b-898346562a94" xlink:href="pnw-20201231.xsd#pnw_AdvancesOfLoansToSubsidiaries"/>

<link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_318fef89-3206-4739-aa7f-2beb4dcaad1e" xlink:to="loc_pnw_AdvancesOfLoansToSubsidiaries_a2c27c8f-6f72-4e46-b87b-898346562a94" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_ec852411-908a-42b1-b77a-7459dca6d519" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_05c48581-7a11-44bb-96fe-c54aa60e9ab6" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_ec852411-908a-42b1-b77a-7459dca6d519" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_05c48581-7a11-44bb-96fe-c54aa60e9ab6" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromLinesOfCredit_36488ffc-595c-45df-8520-91de35a37745" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit"/>

<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_ec852411-908a-42b1-b77a-7459dca6d519" xlink:to="loc_us-gaap_ProceedsFromLinesOfCredit_36488ffc-595c-45df-8520-91de35a37745" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfLinesOfCredit_06456c43-cdac-4c86-a482-b20c9617d970" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RepaymentsOfLinesOfCredit"/>

<link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_ec852411-908a-42b1-b77a-7459dca6d519" xlink:to="loc_us-gaap_RepaymentsOfLinesOfCredit_06456c43-cdac-4c86-a482-b20c9617d970" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfCommercialPaper_24f9e0bd-d1dd-42fb-aca8-45af86148b76" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfCommercialPaper"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_ec852411-908a-42b1-b77a-7459dca6d519" xlink:to="loc_us-gaap_ProceedsFromRepaymentsOfCommercialPaper_24f9e0bd-d1dd-42fb-aca8-45af86148b76" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock_c4218d3c-3e3d-4549-bc6b-bdb962656fa2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock"/>

<link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_ec852411-908a-42b1-b77a-7459dca6d519" xlink:to="loc_us-gaap_PaymentsOfDividendsCommonStock_c4218d3c-3e3d-4549-bc6b-bdb962656fa2" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebt_435d4417-ff9d-4b67-87ac-7342c1140182" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt"/>

<link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_ec852411-908a-42b1-b77a-7459dca6d519" xlink:to="loc_us-gaap_RepaymentsOfLongTermDebt_435d4417-ff9d-4b67-87ac-7342c1140182" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_f2a48436-43c0-471f-90e3-97d1adf1fbd6" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock"/>

<link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_ec852411-908a-42b1-b77a-7459dca6d519" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_f2a48436-43c0-471f-90e3-97d1adf1fbd6" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_fd30e35e-7b35-427c-b842-0e51df2a8db5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities"/>

<link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_ec852411-908a-42b1-b77a-7459dca6d519" xlink:to="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_fd30e35e-7b35-427c-b842-0e51df2a8db5" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_6daf9748-d58d-44b5-9fb9-5f41f3247b1b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_815b2c8d-bb7e-4a17-a96b-eb0453c071d7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss"/>

<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_6daf9748-d58d-44b5-9fb9-5f41f3247b1b" xlink:to="loc_us-gaap_ProfitLoss_815b2c8d-bb7e-4a17-a96b-eb0453c071d7" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_EquityInEarningsLossesOfSubsidiaries_1b48e42d-dcc1-4eaa-8f84-6986b8fe5938" xlink:href="pnw-20201231.xsd#pnw_EquityInEarningsLossesOfSubsidiaries"/>

<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_6daf9748-d58d-44b5-9fb9-5f41f3247b1b" xlink:to="loc_pnw_EquityInEarningsLossesOfSubsidiaries_1b48e42d-dcc1-4eaa-8f84-6986b8fe5938" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization_a6f91562-9c4c-47fd-86c6-20650331cbd3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization"/>

<link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_6daf9748-d58d-44b5-9fb9-5f41f3247b1b" xlink:to="loc_us-gaap_DepreciationDepletionAndAmortization_a6f91562-9c4c-47fd-86c6-20650331cbd3" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_f88b8f6a-07e3-4901-b42f-08cfc6ce1c7c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>

<link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_6daf9748-d58d-44b5-9fb9-5f41f3247b1b" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_f88b8f6a-07e3-4901-b42f-08cfc6ce1c7c" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable_af34aa19-42b1-4022-bbf3-f1bb55d7e5b9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable"/>

<link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_6daf9748-d58d-44b5-9fb9-5f41f3247b1b" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable_af34aa19-42b1-4022-bbf3-f1bb55d7e5b9" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayable_ff5a9960-a8a5-4042-b0db-b96716286f67" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayable"/>

<link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_6daf9748-d58d-44b5-9fb9-5f41f3247b1b" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsPayable_ff5a9960-a8a5-4042-b0db-b96716286f67" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_b0b6f67b-b528-4e26-8da2-6d191dcaa222" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable"/>

<link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_6daf9748-d58d-44b5-9fb9-5f41f3247b1b" xlink:to="loc_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_b0b6f67b-b528-4e26-8da2-6d191dcaa222" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_pnw_ProceedsFromDividendsReceivedFromSubsidiaries_ecfe26eb-8830-499b-8820-c63a011cdf7a" xlink:href="pnw-20201231.xsd#pnw_ProceedsFromDividendsReceivedFromSubsidiaries"/>

<link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_6daf9748-d58d-44b5-9fb9-5f41f3247b1b" xlink:to="loc_pnw_ProceedsFromDividendsReceivedFromSubsidiaries_ecfe26eb-8830-499b-8820-c63a011cdf7a" xlink:type="arc"/>

<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherOperatingActivitiesCashFlowStatement_0937a4f2-8888-4abf-ad33-1740ddcd3862" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherOperatingActivitiesCashFlowStatement"/>

<link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_6daf9748-d58d-44b5-9fb9-5f41f3247b1b" xlink:to="loc_us-gaap_OtherOperatingActivitiesCashFlowStatement_0937a4f2-8888-4abf-ad33-1740ddcd3862" xlink:type="arc"/>

</link:calculationLink>

</link:linkbase>

11 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/27/24  Pinnacle West Capital Corp.       10-K       12/31/23  147:25M
 6/28/23  Arizona Public Service Co.        424B2                  2:578K                                   Toppan Merrill/FA
 6/27/23  Arizona Public Service Co.        424B3                  1:558K                                   Toppan Merrill/FA
 2/27/23  Pinnacle West Capital Corp.       10-K       12/31/22  146:28M
11/07/22  Arizona Public Service Co.        424B2                  2:573K                                   Toppan Merrill/FA
11/04/22  Arizona Public Service Co.        424B3                  1:531K                                   Toppan Merrill/FA
 2/25/22  Pinnacle West Capital Corp.       10-K       12/31/21  150:28M
 8/12/21  Arizona Public Service Co.        424B2                  1:540K                                   Toppan Merrill/FA
 8/11/21  Arizona Public Service Co.        424B3                  1:539K                                   Toppan Merrill/FA
 6/03/21  Pinnacle West Capital Corp.       S-8         6/03/21    4:138K
 3/04/21  Pinnacle West Capital Corp.       S-3ASR      3/04/21   12:633K                                   Toppan Merrill/FA

74 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 9/11/20  Pinnacle West Capital Corp.       8-K:9       9/08/20   17:728K
 6/16/20  Pinnacle West Capital Corp.       8-K:9       6/10/20   17:610K
 5/22/20  Pinnacle West Capital Corp.       8-K:9       5/19/20   17:706K
 5/08/20  Pinnacle West Capital Corp.       10-Q        3/31/20   90:14M
 2/25/20  Pinnacle West Capital Corp.       8-K:5,9     2/19/20   13:633K
 2/21/20  Pinnacle West Capital Corp.       10-K       12/31/19  144:30M
11/20/19  Pinnacle West Capital Corp.       8-K:9      11/18/19   17:701K
 8/16/19  Pinnacle West Capital Corp.       8-K:9       8/12/19   17:700K
 5/01/19  Pinnacle West Capital Corp.       10-Q        3/31/19   92:14M
 2/28/19  Pinnacle West Capital Corp.       8-K:9       2/26/19    6:405K
 8/03/18  Pinnacle West Capital Corp.       10-Q        6/30/18   91:21M
 2/23/18  Pinnacle West Capital Corp.       10-K¶      12/31/17  138:27M
 9/11/17  Pinnacle West Capital Corp.       8-K:9       9/06/17    6:415K
 8/03/17  Pinnacle West Capital Corp.       10-Q        6/30/17   85:13M
 6/20/17  Pinnacle West Capital Corp.       8-K:8,9     6/20/17    2:717K
 5/02/17  Pinnacle West Capital Corp.       10-Q        3/31/17   81:16M
 3/31/17  Pinnacle West Capital Corp.       DEF 14A     5/17/17    1:4.3M                                   Toppan Merrill-FA
 2/24/17  Pinnacle West Capital Corp.       10-K¶      12/31/16  138:27M
 9/20/16  Pinnacle West Capital Corp.       8-K:9       9/15/16    6:412K
 5/06/16  Pinnacle West Capital Corp.       8-K:9       5/03/16    6:488K                                   Toppan Merrill/FA
 2/19/16  Pinnacle West Capital Corp.       10-K       12/31/15  137:27M
11/06/15  Pinnacle West Capital Corp.       8-K:9      11/03/15    6:415K
10/30/15  Pinnacle West Capital Corp.       10-Q        9/30/15   87:13M
 5/19/15  Pinnacle West Capital Corp.       8-K:9       5/14/15    6:406K
 2/20/15  Pinnacle West Capital Corp.       10-K¶      12/31/14  146:38M
 7/31/14  Pinnacle West Capital Corp.       10-Q        6/30/14   98:26M                                    Toppan Merrill/FA
 5/02/14  Pinnacle West Capital Corp.       10-Q        3/31/14   94:19M                                    Toppan Merrill/FA
 2/21/14  Pinnacle West Capital Corp.       10-K¶      12/31/13  148:38M                                    Toppan Merrill/FA
 2/22/13  Arizona Public Service Co.        10-K¶      12/31/12  140:39M                                    Toppan Merrill/FA
 5/22/12  Arizona Public Service Co.        8-K:5,9     5/16/12    3:147K                                   Toppan Merrill/FA
 5/03/12  Arizona Public Service Co.        10-Q        3/31/12   93:19M                                    Toppan Merrill/FA
 3/29/12  Pinnacle West Capital Corp.       DEF 14A     5/16/12    1:2.3M                                   Toppan Merrill-FA
 2/24/12  Arizona Public Service Co.        10-K       12/31/11  143:50M                                    Toppan Merrill/FA
 4/29/11  Arizona Public Service Co.        10-Q        3/31/11   52:5.9M                                   Donnelley … Solutions/FA
 2/18/11  Arizona Public Service Co.        10-K       12/31/10   68:13M                                    Donnelley … Solutions/FA
11/08/10  Arizona Public Service Co.        8-K:1,8,9  11/08/10    3:994K                                   Donnelley … Solutions/FA
 8/03/10  Arizona Public Service Co.        10-Q        6/30/10   49:5.5M                                   Donnelley … Solutions/FA
 5/06/10  Arizona Public Service Co.        10-Q        3/31/10   14:2.1M                                   Donnelley … Solutions/FA
 2/19/10  Arizona Public Service Co.        10-K       12/31/09   19:3.1M                                   Donnelley … Solutions/FA
 5/05/09  Arizona Public Service Co.        10-Q        3/31/09   14:899K                                   RR Donnelley
 2/20/09  Arizona Public Service Co.        10-K       12/31/08   19:2.3M                                   RR Donnelley
11/25/08  Pinnacle West Capital Corp.       S-3ASR     11/25/08    5:271K                                   RR Donnelley
 8/07/08  Pinnacle West Capital Corp.       10-Q        6/30/08   17:900K                                   Bowne - BPX/FA
 2/27/08  Arizona Public Service Co.        10-K       12/31/07   15:1.9M                                   Bowne - BPX/FA
11/06/07  Pinnacle West Capital Corp.       10-Q        9/30/07   14:908K                                   Bowne - BPX/FA
 5/09/07  Arizona Public Service Co.        10-Q        3/31/07   14:741K                                   Bowne - BPX/FA
 4/20/07  Arizona Public Service Co.        8-K:8,9     4/18/07    3:54K                                    RR Donnelley
 4/20/07  Pinnacle West Capital Corp.       DEF 14A     5/23/07    1:757K                                   RR Donnelley
 8/03/06  Arizona Public Service Co.        8-K:9       7/31/06    7:324K                                   Bowne - BPX/FA
 3/13/06  Arizona Public Service Co.        10-K       12/31/05   25:3.1M                                   Bowne - BPX/FA
 8/22/05  Arizona Public Service Co.        8-K:9       8/17/05    4:102K                                   Bowne - BPX/FA
 8/09/05  Arizona Public Service Co.        10-Q        6/30/05   15:1.2M                                   Bowne - BPX/FA
 3/16/05  Arizona Public Service Co.        10-K¶      12/31/04   28:2.5M                                   Bowne - BPX/FA
 8/09/04  Pinnacle West Capital Corp.       8-K:7       6/23/04    2:78K                                    Bowne - BPX/FA
 3/15/04  Pinnacle West Capital Corp.       10-K       12/31/03   16:1.8M                                   Bowne - BPX/FA
 5/15/03  Pinnacle West Capital Corp.       10-Q        3/31/03    9:364K                                   Imperial Fin’l … Corp/FA
 5/09/03  Arizona Public Service Co.        8-K:7       5/07/03    7:139K                                   Imperial Fin’l … Corp/FA
 5/15/02  Pinnacle West Capital Corp.       10-Q        3/31/02    7:161K                                   Imperial Fin’l … Corp/FA
 3/14/01  Pinnacle West Capital Corp.       10-K       12/31/00   12:288K                                   Imperial Fin’l … Corp/FA
12/21/00  Pinnacle West Capital Corp.       S-3                    9:512K                                   Imperial Fin’l … Corp/FA
 8/14/00  Pinnacle West Capital Corp.       10-Q        6/30/00    3:92K                                    Imperial Fin’l … Corp/FA
 3/30/00  Pinnacle West Capital Corp.       10-K       12/31/99   21:332K                                   Imperial Fin’l … Corp/FA
11/15/99  Arizona Public Service Co.        10-Q        9/30/99    4:376K                                   Imperial Fin’l … Corp/FA
 6/26/98  Arizona Public Service Co.        8-K:5,7     5/19/98    3:34K                                    Imperial Fin’l … Corp/FA
 5/15/98  Pinnacle West Capital Corp.       10-Q        3/31/98    2:49K                                    Imperial Fin’l … Corp/FA
 1/16/98  Arizona Public Service Co.        8-K:7       1/13/98    6:280K                                   Imperial Fin’l … Corp/FA
 3/28/97  Arizona Public Service Co.        10-K405    12/31/96   13:337K                                   Imperial Fin’l … Corp/FA
11/22/96  Arizona Public Service Co.        8-K:7      11/19/96    7:507K                                   Imperial Fin’l … Corp/FA
 8/09/96  Arizona Public Service Co.        10-Q        6/30/96    4:50K                                    Imperial Fin’l … Corp/FA
 3/29/96  Arizona Public Service Co.        10-K405    12/31/95   15:379K                                   Imperial Fin’l … Corp/FA
 3/30/95  Arizona Public Service Co.        10-K405    12/31/94   14:361K                                   Imperial Fin’l … Corp/FA
 1/11/95  Arizona Public Service Co.        8-K:7       1/01/95    7:295K                                   Imperial Fin’l … Corp/FA
11/10/94  Arizona Public Service Co.        10-Q        9/30/94    5:52K                                    Imperial Fin’l … Corp/FA
 3/30/94  Arizona Public Service Co.        10-K       12/31/93   14:453K                                   Imperial Fin’l … Corp/FA

↑Top

Filing Submission 0000764622-21-000013 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Pinnacle West Capital Corp., et al. – ‘10-K’ for 12/31/20 – ‘EX-101.CAL’

On: Wednesday, 2/24/21, at 8:32am ET · For: 12/31/20 · Accession #: 764622-21-13 · File #s: 1-04473, 1-08962

Annual Report — Form 10-KFiling Table of Contents

‘EX-101.CAL’ — XBRL Calculations — pnw-20201231_cal

This Exhibit is an XBRL XML File.

11 Subsequent Filings that Reference this Filing

74 Previous Filings that this Filing References

Annual Report — Form 10-K
Filing Table of Contents