SEC Info - Pinnacle West Capital Corp, et al. - ‘10-K’ for 12/31/15

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Pinnacle West Capital Corp, et al. – ‘10-K’ for 12/31/15 – ‘EX-101.LAB’

On: Friday, 2/19/16, at 8:35am ET · For: 12/31/15 · Accession #: 764622-16-87 · File #s: 1-04473, 1-08962

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

 2/19/16  Pinnacle West Capital Corp        10-K       12/31/15  137:27M
          Arizona Public Service Co

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.44M 
 2: EX-10.2.5   Material Contract                                   HTML    133K 
 3: EX-10.3.2   Material Contract                                   HTML    120K 
 4: EX-10.6.4   Material Contract                                   HTML     43K 
 5: EX-10.6.6E  Material Contract                                   HTML     89K 
 9: EX-21.1     Subsidiaries List                                   HTML     36K 
10: EX-23.1     Consent of Experts or Counsel                       HTML     37K 
11: EX-23.2     Consent of Experts or Counsel                       HTML     37K 
 6: EX-12.1     Statement re: Computation of Ratios                 HTML     51K 
 7: EX-12.2     Statement re: Computation of Ratios                 HTML     52K 
 8: EX-12.3     Statement re: Computation of Ratios                 HTML     65K 
12: EX-31.1     Certification -- §302 - SOA'02                      HTML     47K 
13: EX-31.2     Certification -- §302 - SOA'02                      HTML     46K 
14: EX-31.3     Certification -- §302 - SOA'02                      HTML     46K 
15: EX-31.4     Certification -- §302 - SOA'02                      HTML     46K 
16: EX-32.1     Certification -- §906 - SOA'02                      HTML     42K 
17: EX-32.2     Certification -- §906 - SOA'02                      HTML     42K 
24: R1          Document and Entity Information                     HTML     72K 
25: R2          Consolidated Statements of Income                   HTML    126K 
26: R3          Consolidated Statements of Comprehensive Income     HTML     68K 
27: R4          Consolidated Statements of Comprehensive Income     HTML     48K 
                (Parenthetical)                                                  
28: R5          Consolidated Balance Sheets                         HTML    261K 
29: R6          Consolidated Balance Sheets (Parenthetical)         HTML     59K 
30: R7          Consolidated Statements of Cash Flows               HTML    188K 
31: R8          Consolidated Statements of Changes in Equity        HTML    110K 
32: R9          Consolidated Statements of Changes in Equity        HTML     40K 
                (Parenthetical)                                                  
33: R10         Summary of Significant Accounting Policies          HTML    118K 
34: R11         New Accounting Standards                            HTML     49K 
35: R12         Regulatory Matters                                  HTML    226K 
36: R13         Income Taxes                                        HTML    304K 
37: R14         Lines of Credit and Short-Term Borrowings           HTML     68K 
38: R15         Long-Term Debt and Liquidity Matters                HTML    132K 
39: R16         Retirement Plans and Other Benefits                 HTML    514K 
40: R17         Leases                                              HTML     58K 
41: R18         Jointly-Owned Facilities                            HTML    113K 
42: R19         Commitments and Contingencies                       HTML    120K 
43: R20         Asset Retirement Obligations                        HTML     59K 
44: R21         Selected Quarterly Financial Data (Unaudited)       HTML    153K 
45: R22         Fair Value Measurements                             HTML    299K 
46: R23         Earnings Per Share                                  HTML     60K 
47: R24         Stock-Based Compensation                            HTML     97K 
48: R25         Derivative Accounting                               HTML    179K 
49: R26         Other Income and Other Expense                      HTML     95K 
50: R27         Palo Verde Sale Leaseback Variable Interest         HTML     55K 
                Entities                                                         
51: R28         Nuclear Decommissioning Trusts                      HTML     89K 
52: R29         Changes in Accumulated Other Comprehensive Loss     HTML     81K 
53: R30         Schedule I - Condensed Financial Information of     HTML    181K 
                Registrant                                                       
54: R31         Schedule Ii - Reserve for Uncollectibles            HTML     87K 
55: R32         Summary of Significant Accounting Policies          HTML    134K 
                (Policies)                                                       
56: R33         Summary of Significant Accounting Policies          HTML     78K 
                (Tables)                                                         
57: R34         Regulatory Matters (Tables)                         HTML    170K 
58: R35         Income Taxes (Tables)                               HTML    303K 
59: R36         Lines of Credit and Short-Term Borrowings (Tables)  HTML     61K 
60: R37         Long-Term Debt and Liquidity Matters (Tables)       HTML    125K 
61: R38         Retirement Plans and Other Benefits (Tables)        HTML    507K 
62: R39         Leases (Tables)                                     HTML     53K 
63: R40         Jointly-Owned Facilities (Tables)                   HTML    114K 
64: R41         Commitments and Contingencies (Tables)              HTML     59K 
65: R42         Asset Retirement Obligations (Tables)               HTML     51K 
66: R43         Selected Quarterly Financial Data (Unaudited)       HTML    151K 
                (Tables)                                                         
67: R44         Fair Value Measurements (Tables)                    HTML    281K 
68: R45         Earnings Per Share (Tables)                         HTML     59K 
69: R46         Stock-Based Compensation (Tables)                   HTML    123K 
70: R47         Derivative Accounting (Tables)                      HTML    247K 
71: R48         Other Income and Other Expense (Tables)             HTML     94K 
72: R49         Palo Verde Sale Leaseback Variable Interest         HTML     50K 
                Entities (Tables)                                                
73: R50         Nuclear Decommissioning Trusts (Tables)             HTML     91K 
74: R51         Changes in Accumulated Other Comprehensive Loss     HTML     78K 
                (Tables)                                                         
75: R52         Summary of Significant Accounting Policies -        HTML    116K 
                Narrative (Details)                                              
76: R53         Summary of Significant Accounting Policies -        HTML     68K 
                Summary of Property, Plant and Equipment (Details)               
77: R54         Summary of Significant Accounting Policies -        HTML     52K 
                Supplemental Cash Flow Information (Details)                     
78: R55         New Accounting Standards - Narrative (Details)      HTML     45K 
79: R56         Regulatory Matters (Details)                        HTML    240K 
80: R57         Regulatory Matters Regulatory Matters - Deferred    HTML     52K 
                Fuel and Purchased Power Regulatory Asset                        
                (Details)                                                        
81: R58         Regulatory Matters - Four Corners and Cholla        HTML     65K 
                (Details)                                                        
82: R59         Regulatory Matters - Schedule of Regulatory Assets  HTML     87K 
                (Details)                                                        
83: R60         Regulatory Matters - Schedule of Regulatory         HTML     75K 
                Liabilities (Details)                                            
84: R61         Income Taxes (Details)                              HTML     73K 
85: R62         Income Taxes - Reconciliation of Unrecognized Tax   HTML     60K 
                Benefits (Details)                                               
86: R63         Income Taxes - Summary of Unrecognized Tax          HTML     48K 
                Benefits (Details)                                               
87: R64         Income Taxes - Components of Income Tax Expense     HTML     74K 
                (Details)                                                        
88: R65         Income Taxes - Effective Tax Rate Reconciliation    HTML     82K 
                (Details)                                                        
89: R66         Income Taxes Income Taxes - Deferred Income Tax     HTML     49K 
                Liability Recognized on the Balance Sheets                       
                (Details)                                                        
90: R67         Income Taxes - Components of Deferred Income Tax    HTML    104K 
                Liability (Details)                                              
91: R68         Lines of Credit and Short-Term Borrowings -         HTML     56K 
                Schedule of Credit Facilities (Details)                          
92: R69         Lines of Credit and Short-Term Borrowings           HTML     94K 
                (Details)                                                        
93: R70         Long-Term Debt and Liquidity Matters (Details)      HTML    120K 
94: R71         Long-Term Debt and Liquidity Matters - Components   HTML    100K 
                of Long-Term Debt (Details)                                      
95: R72         Long-Term Debt and Liquidity Matters - Future       HTML     62K 
                Principal Payments (Details)                                     
96: R73         Long-Term Debt and Liquidity Matters - Fair Value   HTML     47K 
                of Long-Term Debt (Details)                                      
97: R74         Retirement Plans and Other Benefits Retirement      HTML    144K 
                Plans and Other Benefits (Details)                               
98: R75         Retirement Plans and Other Benefits - Net Periodic  HTML     65K 
                Benefit Costs and Portion including Portion                      
                Charged to Expense (Details)                                     
99: R76         Retirement Plans and Other Benefits - Changes       HTML     81K 
                Benefit Obligations and Funded Status (Details)                  
100: R77         Retirement Plans and Other Benefits - Projected     HTML     48K  
                Benefit Obligation for Pension Plans (Details)                   
101: R78         Retirement Plans and Other Benefits - Amounts       HTML     56K  
                Recognized on the Consolidated Balance Sheets                    
                (Details)                                                        
102: R79         Retirement Plans and Other Benefits - Impact to     HTML     69K  
                Accumulated Other Comprehensive Loss (Details)                   
103: R80         Retirement Plans and Other Benefits -               HTML    100K  
                Weighted-Average Assumptions for Pensions and                    
                Other Benefits (Details)                                         
104: R81         Retirement Plans and Other Benefits - Fair Value    HTML    143K  
                of Pinnacle West's Pension Plan (Details)                        
105: R82         Retirement Plans and Other Benefits - Changes in    HTML     56K  
                Fair Value (Details)                                             
106: R83         Retirement Plans and Other Benefits - Estimated     HTML     56K  
                Future Benefit Payments (Details)                                
107: R84         Leases (Details)                                    HTML     71K  
108: R85         Jointly-Owned Facilities (Details)                  HTML    104K  
109: R86         Commitments and Contingencies - Palo Verde Nuclear  HTML    125K  
                Generating Station and Contractual Obligations                   
                (Details)                                                        
110: R87         Commitments and Contingencies - Superfund-Related   HTML     77K  
                Matters and Southwest Power Outage (Details)                     
111: R88         Commitments and Contingencies Commitments and       HTML     97K  
                Contingencies - Environmental Matters and                        
                Financial Assurances (Details)                                   
112: R89         Asset Retirement Obligations (Details)              HTML     73K  
113: R90         Selected Quarterly Financial Data (Unaudited)       HTML     75K  
                (Details)                                                        
114: R91         Fair Value Measurements - Fair Value of Assets and  HTML    110K  
                Liabilities (Details)                                            
115: R92         Fair Value Measurements - Level 3 Quantative        HTML     98K  
                Information (Details)                                            
116: R93         Fair Value Measurements Fair Value Measurements -   HTML     63K  
                Changes in Fair Value of Risk Management Assets                  
                and Liabilities (Details)                                        
117: R94         Earnings Per Share (Details)                        HTML     62K  
118: R95         Stock-Based Compensation (Details)                  HTML    122K  
119: R96         Stock-Based Compensation - Summary of Restricted    HTML     49K  
                Stock, Stock Grants, Stock Units and Performance                 
                Shares (Details)                                                 
120: R97         Stock-Based Compensation - Status of Nonvested      HTML     88K  
                Restricted Stock, Stock Grants, Stock Units and                  
                Performance Shares (Details)                                     
121: R98         Derivative Accounting (Details)                     HTML     67K  
122: R99         Derivative Accounting - Outstanding Gross Notional  HTML     42K  
                Amounts Outstanding (Details)                                    
123: R100        Derivative Accounting - Gains and Losses from       HTML     61K  
                Derivative Instruments (Details)                                 
124: R101        Derivative Accounting - Derivative Instruments in   HTML    103K  
                the Balance Sheet (Details)                                      
125: R102        Derivative Accounting - Credit Risk and Related     HTML     45K  
                Contingent Features (Details)                                    
126: R103        Other Income and Other Expense (Details)            HTML     68K  
127: R104        Palo Verde Sale Leaseback Variable Interest         HTML     74K  
                Entities (Details)                                               
128: R105        Palo Verde Sale Leaseback Variable Interest         HTML     51K  
                Entities Palo Verde Leaseback Variable Interest                  
                Entities - Schedule of VIEs (Details)                            
129: R106        Nuclear Decommissioning Trusts (Details)            HTML     83K  
130: R107        Changes in Accumulated Other Comprehensive Loss     HTML     64K  
                (Details)                                                        
131: R108        SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF     HTML     84K  
                REGISTRANT - Statement of Comprehensive Income                   
                (Details)                                                        
132: R109        SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF     HTML    137K  
                REGISTRANT - Consolidated Balance Sheets (Details)               
133: R110        SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF     HTML    128K  
                REGISTRANT - Consolidated Statements of Cash Flows               
                (Details)                                                        
134: R111        Schedule Ii - Reserve for Uncollectibles (Details)  HTML     55K  
136: XML         IDEA XML File -- Filing Summary                      XML    243K  
135: EXCEL       IDEA Workbook of Financial Reports                  XLSX    202K  
18: EX-101.INS  XBRL Instance -- pnw-20151231                        XML   8.25M 
20: EX-101.CAL  XBRL Calculations -- pnw-20151231_cal                XML    446K 
21: EX-101.DEF  XBRL Definitions -- pnw-20151231_def                 XML   2.13M 
22: EX-101.LAB  XBRL Labels -- pnw-20151231_lab                      XML   3.91M 
23: EX-101.PRE  XBRL Presentations -- pnw-20151231_pre               XML   2.39M 
19: EX-101.SCH  XBRL Schema -- pnw-20151231                          XSD    437K 
137: ZIP         XBRL Zipped Folder -- 0000764622-16-000087-xbrl      Zip    659K

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<link:label id="lab_pnw_ArizonaPublicServiceCompanyMember_C2C5E7D7376FA20E465B91C026FB0D9E_terseLabel_en-US" xlink:label="lab_pnw_ArizonaPublicServiceCompanyMember_C2C5E7D7376FA20E465B91C026FB0D9E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> ARIZONA PUBLIC SERVICE COMPANY </link:label>

<link:label id="lab_pnw_ArizonaPublicServiceCompanyMember_C2C5E7D7376FA20E465B91C026FB0D9E_label_en-US" xlink:label="lab_pnw_ArizonaPublicServiceCompanyMember_C2C5E7D7376FA20E465B91C026FB0D9E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Arizona Public Service Company [Member] </link:label>

<link:label id="lab_pnw_ArizonaPublicServiceCompanyMember_C2C5E7D7376FA20E465B91C026FB0D9E_documentation_en-US" xlink:label="lab_pnw_ArizonaPublicServiceCompanyMember_C2C5E7D7376FA20E465B91C026FB0D9E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Arizona Public Service Company, which is an electric utility subsidiary of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ArizonaPublicServiceCompanyMember" xlink:label="loc_pnw_ArizonaPublicServiceCompanyMember_C2C5E7D7376FA20E465B91C026FB0D9E" xlink:type="locator"/>

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<link:label id="lab_pnw_SelectedQuarterlyFinancialInformationLineItems_093A4D0BEF14EF1DAA1A91C026FBA4C6_terseLabel_en-US" xlink:label="lab_pnw_SelectedQuarterlyFinancialInformationLineItems_093A4D0BEF14EF1DAA1A91C026FBA4C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Selected Quarterly Financial Information [Line Items] </link:label>

<link:label id="lab_pnw_SelectedQuarterlyFinancialInformationLineItems_093A4D0BEF14EF1DAA1A91C026FBA4C6_label_en-US" xlink:label="lab_pnw_SelectedQuarterlyFinancialInformationLineItems_093A4D0BEF14EF1DAA1A91C026FBA4C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Selected Quarterly Financial Information [Line Items] </link:label>

<link:label id="lab_pnw_SelectedQuarterlyFinancialInformationLineItems_093A4D0BEF14EF1DAA1A91C026FBA4C6_documentation_en-US" xlink:label="lab_pnw_SelectedQuarterlyFinancialInformationLineItems_093A4D0BEF14EF1DAA1A91C026FBA4C6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SelectedQuarterlyFinancialInformationLineItems" xlink:label="loc_pnw_SelectedQuarterlyFinancialInformationLineItems_093A4D0BEF14EF1DAA1A91C026FBA4C6" xlink:type="locator"/>

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<link:label id="lab_us-gaap_QuarterlyFinancialInformationTextBlock_4CC5AE65051ACA51180891C026FBD091_terseLabel_en-US" xlink:label="lab_us-gaap_QuarterlyFinancialInformationTextBlock_4CC5AE65051ACA51180891C026FBD091" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Selected Quarterly Financial Data (Unaudited) </link:label>

<link:label id="lab_us-gaap_QuarterlyFinancialInformationTextBlock_4CC5AE65051ACA51180891C026FBD091_label_en-US" xlink:label="lab_us-gaap_QuarterlyFinancialInformationTextBlock_4CC5AE65051ACA51180891C026FBD091" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Quarterly Financial Information [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_QuarterlyFinancialInformationTextBlock" xlink:label="loc_us-gaap_QuarterlyFinancialInformationTextBlock_4CC5AE65051ACA51180891C026FBD091" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAbstract_4C26815F8C69DEDD70FBECC9D4769E2D_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxAbstract_4C26815F8C69DEDD70FBECC9D4769E2D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAbstract_4C26815F8C69DEDD70FBECC9D4769E2D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxAbstract_4C26815F8C69DEDD70FBECC9D4769E2D" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTaxAbstract_4C26815F8C69DEDD70FBECC9D4769E2D" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable_EBCC45373B7AB1BD63EFECC9D476F6CE_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable_EBCC45373B7AB1BD63EFECC9D476F6CE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss) [Table] </link:label>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable_EBCC45373B7AB1BD63EFECC9D476F6CE_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable_EBCC45373B7AB1BD63EFECC9D476F6CE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss) [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossTable" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable_EBCC45373B7AB1BD63EFECC9D476F6CE" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StatementEquityComponentsAxis_4C510165CEA40BB93276ECC9D477876F_terseLabel_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis_4C510165CEA40BB93276ECC9D477876F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Equity Components [Axis] </link:label>

<link:label id="lab_us-gaap_StatementEquityComponentsAxis_4C510165CEA40BB93276ECC9D477876F_label_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis_4C510165CEA40BB93276ECC9D477876F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Equity Components [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_4C510165CEA40BB93276ECC9D477876F" xlink:type="locator"/>

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<link:label id="lab_us-gaap_EquityComponentDomain_A80D2FD1E2B06D65692FECC9D4777F66_terseLabel_en-US" xlink:label="lab_us-gaap_EquityComponentDomain_A80D2FD1E2B06D65692FECC9D4777F66" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Equity Component [Domain] </link:label>

<link:label id="lab_us-gaap_EquityComponentDomain_A80D2FD1E2B06D65692FECC9D4777F66_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain_A80D2FD1E2B06D65692FECC9D4777F66" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Equity Component [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_A80D2FD1E2B06D65692FECC9D4777F66" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityComponentDomain_A80D2FD1E2B06D65692FECC9D4777F66" xlink:to="lab_us-gaap_EquityComponentDomain_A80D2FD1E2B06D65692FECC9D4777F66" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_EF6FE34A12F00C61D7E6ECC9D477332C_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_EF6FE34A12F00C61D7E6ECC9D477332C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative Instruments </link:label>

<link:label id="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_EF6FE34A12F00C61D7E6ECC9D477332C_label_en-US" xlink:label="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_EF6FE34A12F00C61D7E6ECC9D477332C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember" xlink:label="loc_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_EF6FE34A12F00C61D7E6ECC9D477332C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_EF6FE34A12F00C61D7E6ECC9D477332C" xlink:to="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_EF6FE34A12F00C61D7E6ECC9D477332C" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_B4A1D77333A62D23652CECC9D47708F2_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_B4A1D77333A62D23652CECC9D47708F2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pension and Other Postretirement Benefits </link:label>

<link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_B4A1D77333A62D23652CECC9D47708F2_label_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_B4A1D77333A62D23652CECC9D47708F2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember" xlink:label="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_B4A1D77333A62D23652CECC9D47708F2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_B4A1D77333A62D23652CECC9D47708F2" xlink:to="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_B4A1D77333A62D23652CECC9D47708F2" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_B9776ADB49395C50FDFCECC9D478E525_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_B9776ADB49395C50FDFCECC9D478E525" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Changes in accumulated other comprehensive income (loss) including reclassification adjustments, by component: </link:label>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_B9776ADB49395C50FDFCECC9D478E525_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_B9776ADB49395C50FDFCECC9D478E525" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss) [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_B9776ADB49395C50FDFCECC9D478E525" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_B9776ADB49395C50FDFCECC9D478E525" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_B9776ADB49395C50FDFCECC9D478E525" xlink:type="arc"/>

<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract_ED02DA095FF5E954809DECC9D4788F74_terseLabel_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract_ED02DA095FF5E954809DECC9D4788F74" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Changes in accumulated other comprehensive income (loss) by component </link:label>

<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract_ED02DA095FF5E954809DECC9D4788F74_label_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract_ED02DA095FF5E954809DECC9D4788F74" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract" xlink:label="loc_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract_ED02DA095FF5E954809DECC9D4788F74" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_5E115004D1F71C9EABABECC9D478BB28_periodStartLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_5E115004D1F71C9EABABECC9D478BB28" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Beginning balance </link:label>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_5E115004D1F71C9EABABECC9D478BB28_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_5E115004D1F71C9EABABECC9D478BB28" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss), Net of Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_5E115004D1F71C9EABABECC9D478BB28" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_44AED4AB9F4AD65823E8ECC9D4781D6B_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_44AED4AB9F4AD65823E8ECC9D4781D6B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> OCI (loss) before reclassifications </link:label>

<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_44AED4AB9F4AD65823E8ECC9D4781D6B_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_44AED4AB9F4AD65823E8ECC9D4781D6B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Comprehensive Income (Loss), before Reclassifications, Net of Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_44AED4AB9F4AD65823E8ECC9D4781D6B" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_885D8BD2E487EB3C69DCECC9D47862B6_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_885D8BD2E487EB3C69DCECC9D47862B6" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Amounts reclassified from accumulated other comprehensive loss </link:label>

<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_885D8BD2E487EB3C69DCECC9D47862B6_label_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_885D8BD2E487EB3C69DCECC9D47862B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax </link:label>

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<link:label id="lab_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_03E083D5FB0F0769BEAB91C0259A8CD5_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_03E083D5FB0F0769BEAB91C0259A8CD5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of quarterly financial information </link:label>

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<link:label id="lab_pnw_OfficersandKeyEmployeesMember_C250207289D02EC686D6C671605E1047_terseLabel_en-US" xlink:label="lab_pnw_OfficersandKeyEmployeesMember_C250207289D02EC686D6C671605E1047" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Officers and Key Employees </link:label>

<link:label id="lab_pnw_OfficersandKeyEmployeesMember_C250207289D02EC686D6C671605E1047_label_en-US" xlink:label="lab_pnw_OfficersandKeyEmployeesMember_C250207289D02EC686D6C671605E1047" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Officers and Key Employees [Member] </link:label>

<link:label id="lab_pnw_OfficersandKeyEmployeesMember_C250207289D02EC686D6C671605E1047_documentation_en-US" xlink:label="lab_pnw_OfficersandKeyEmployeesMember_C250207289D02EC686D6C671605E1047" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Officers and Key Employees [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_OfficersandKeyEmployeesMember" xlink:label="loc_pnw_OfficersandKeyEmployeesMember_C250207289D02EC686D6C671605E1047" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_OfficersandKeyEmployeesMember_C250207289D02EC686D6C671605E1047" xlink:to="lab_pnw_OfficersandKeyEmployeesMember_C250207289D02EC686D6C671605E1047" xlink:type="arc"/>

<link:label id="lab_us-gaap_ChiefExecutiveOfficerMember_7A33A13A9E216CA96F71C671605EE676_terseLabel_en-US" xlink:label="lab_us-gaap_ChiefExecutiveOfficerMember_7A33A13A9E216CA96F71C671605EE676" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Chief Executive Officer </link:label>

<link:label id="lab_us-gaap_ChiefExecutiveOfficerMember_7A33A13A9E216CA96F71C671605EE676_label_en-US" xlink:label="lab_us-gaap_ChiefExecutiveOfficerMember_7A33A13A9E216CA96F71C671605EE676" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Chief Executive Officer [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ChiefExecutiveOfficerMember" xlink:label="loc_us-gaap_ChiefExecutiveOfficerMember_7A33A13A9E216CA96F71C671605EE676" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ChiefExecutiveOfficerMember_7A33A13A9E216CA96F71C671605EE676" xlink:to="lab_us-gaap_ChiefExecutiveOfficerMember_7A33A13A9E216CA96F71C671605EE676" xlink:type="arc"/>

<link:label id="lab_pnw_NonOfficerBoardofDirectorMemberMember_5E8F084C4DAE4CA97B9BC671605E1AF6_terseLabel_en-US" xlink:label="lab_pnw_NonOfficerBoardofDirectorMemberMember_5E8F084C4DAE4CA97B9BC671605E1AF6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Non-Officer Board of Director Member </link:label>

<link:label id="lab_pnw_NonOfficerBoardofDirectorMemberMember_5E8F084C4DAE4CA97B9BC671605E1AF6_label_en-US" xlink:label="lab_pnw_NonOfficerBoardofDirectorMemberMember_5E8F084C4DAE4CA97B9BC671605E1AF6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Non Officer Board of Director Member [Member] </link:label>

<link:label id="lab_pnw_NonOfficerBoardofDirectorMemberMember_5E8F084C4DAE4CA97B9BC671605E1AF6_documentation_en-US" xlink:label="lab_pnw_NonOfficerBoardofDirectorMemberMember_5E8F084C4DAE4CA97B9BC671605E1AF6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Non Officer Board of Director Member [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NonOfficerBoardofDirectorMemberMember" xlink:label="loc_pnw_NonOfficerBoardofDirectorMemberMember_5E8F084C4DAE4CA97B9BC671605E1AF6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NonOfficerBoardofDirectorMemberMember_5E8F084C4DAE4CA97B9BC671605E1AF6" xlink:to="lab_pnw_NonOfficerBoardofDirectorMemberMember_5E8F084C4DAE4CA97B9BC671605E1AF6" xlink:type="arc"/>

<link:label id="lab_us-gaap_AwardTypeAxis_95D9949542B8D413D1F8C671605E9E29_terseLabel_en-US" xlink:label="lab_us-gaap_AwardTypeAxis_95D9949542B8D413D1F8C671605E9E29" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Award Type [Axis] </link:label>

<link:label id="lab_us-gaap_AwardTypeAxis_95D9949542B8D413D1F8C671605E9E29_label_en-US" xlink:label="lab_us-gaap_AwardTypeAxis_95D9949542B8D413D1F8C671605E9E29" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Award Type [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_95D9949542B8D413D1F8C671605E9E29" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AwardTypeAxis_95D9949542B8D413D1F8C671605E9E29" xlink:to="lab_us-gaap_AwardTypeAxis_95D9949542B8D413D1F8C671605E9E29" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_FF872F624434B4B1808BC671605E0098_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_FF872F624434B4B1808BC671605E0098" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Equity Award [Domain] </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_FF872F624434B4B1808BC671605E0098_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_FF872F624434B4B1808BC671605E0098" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Equity Award [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_FF872F624434B4B1808BC671605E0098" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_FF872F624434B4B1808BC671605E0098" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_FF872F624434B4B1808BC671605E0098" xlink:type="arc"/>

<link:label id="lab_us-gaap_RestrictedStockUnitsRSUMember_7C2426AE50E8452681C1C671605ECB86_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedStockUnitsRSUMember_7C2426AE50E8452681C1C671605ECB86" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Restricted stock unit awards </link:label>

<link:label id="lab_us-gaap_RestrictedStockUnitsRSUMember_7C2426AE50E8452681C1C671605ECB86_label_en-US" xlink:label="lab_us-gaap_RestrictedStockUnitsRSUMember_7C2426AE50E8452681C1C671605ECB86" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restricted Stock Units (RSUs) [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedStockUnitsRSUMember" xlink:label="loc_us-gaap_RestrictedStockUnitsRSUMember_7C2426AE50E8452681C1C671605ECB86" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedStockUnitsRSUMember_7C2426AE50E8452681C1C671605ECB86" xlink:to="lab_us-gaap_RestrictedStockUnitsRSUMember_7C2426AE50E8452681C1C671605ECB86" xlink:type="arc"/>

<link:label id="lab_pnw_RestrictedStockUnitsRSUAndStockGrantsMember_026D4819CE52D9433F73C671605EC8DC_terseLabel_en-US" xlink:label="lab_pnw_RestrictedStockUnitsRSUAndStockGrantsMember_026D4819CE52D9433F73C671605EC8DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Restricted Stock Units, Stock Grants, and Stock Units </link:label>

<link:label id="lab_pnw_RestrictedStockUnitsRSUAndStockGrantsMember_026D4819CE52D9433F73C671605EC8DC_label_en-US" xlink:label="lab_pnw_RestrictedStockUnitsRSUAndStockGrantsMember_026D4819CE52D9433F73C671605EC8DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restricted Stock Units RSU and Stock Grants [Member] </link:label>

<link:label id="lab_pnw_RestrictedStockUnitsRSUAndStockGrantsMember_026D4819CE52D9433F73C671605EC8DC_documentation_en-US" xlink:label="lab_pnw_RestrictedStockUnitsRSUAndStockGrantsMember_026D4819CE52D9433F73C671605EC8DC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to restricted stock unit awards and stock grants. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RestrictedStockUnitsRSUAndStockGrantsMember" xlink:label="loc_pnw_RestrictedStockUnitsRSUAndStockGrantsMember_026D4819CE52D9433F73C671605EC8DC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RestrictedStockUnitsRSUAndStockGrantsMember_026D4819CE52D9433F73C671605EC8DC" xlink:to="lab_pnw_RestrictedStockUnitsRSUAndStockGrantsMember_026D4819CE52D9433F73C671605EC8DC" xlink:type="arc"/>

<link:label id="lab_pnw_RetentionUnitsMember_024D881F7D78E240EF08C671605F2325_terseLabel_en-US" xlink:label="lab_pnw_RetentionUnitsMember_024D881F7D78E240EF08C671605F2325" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Retention units </link:label>

<link:label id="lab_pnw_RetentionUnitsMember_024D881F7D78E240EF08C671605F2325_label_en-US" xlink:label="lab_pnw_RetentionUnitsMember_024D881F7D78E240EF08C671605F2325" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Retention Units [Member] </link:label>

<link:label id="lab_pnw_RetentionUnitsMember_024D881F7D78E240EF08C671605F2325_documentation_en-US" xlink:label="lab_pnw_RetentionUnitsMember_024D881F7D78E240EF08C671605F2325" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Retention Units as awarded by the company to their employees as a form of incentive compensation. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RetentionUnitsMember" xlink:label="loc_pnw_RetentionUnitsMember_024D881F7D78E240EF08C671605F2325" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RetentionUnitsMember_024D881F7D78E240EF08C671605F2325" xlink:to="lab_pnw_RetentionUnitsMember_024D881F7D78E240EF08C671605F2325" xlink:type="arc"/>

<link:label id="lab_us-gaap_PerformanceSharesMember_A59A9066DB027544CC63C671605FEDB1_terseLabel_en-US" xlink:label="lab_us-gaap_PerformanceSharesMember_A59A9066DB027544CC63C671605FEDB1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Performance Shares </link:label>

<link:label id="lab_us-gaap_PerformanceSharesMember_A59A9066DB027544CC63C671605FEDB1_label_en-US" xlink:label="lab_us-gaap_PerformanceSharesMember_A59A9066DB027544CC63C671605FEDB1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Performance Shares [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PerformanceSharesMember" xlink:label="loc_us-gaap_PerformanceSharesMember_A59A9066DB027544CC63C671605FEDB1" xlink:type="locator"/>

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<link:label id="lab_us-gaap_RangeAxis_57B135FB9CB8D5D9EC0DC671605FE685_terseLabel_en-US" xlink:label="lab_us-gaap_RangeAxis_57B135FB9CB8D5D9EC0DC671605FE685" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Range [Axis] </link:label>

<link:label id="lab_us-gaap_RangeAxis_57B135FB9CB8D5D9EC0DC671605FE685_label_en-US" xlink:label="lab_us-gaap_RangeAxis_57B135FB9CB8D5D9EC0DC671605FE685" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Range [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeAxis" xlink:label="loc_us-gaap_RangeAxis_57B135FB9CB8D5D9EC0DC671605FE685" xlink:type="locator"/>

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<link:label id="lab_us-gaap_RangeMember_E3B27ACFC73DAF105431C671605F566A_terseLabel_en-US" xlink:label="lab_us-gaap_RangeMember_E3B27ACFC73DAF105431C671605F566A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Range [Domain] </link:label>

<link:label id="lab_us-gaap_RangeMember_E3B27ACFC73DAF105431C671605F566A_label_en-US" xlink:label="lab_us-gaap_RangeMember_E3B27ACFC73DAF105431C671605F566A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Range [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeMember" xlink:label="loc_us-gaap_RangeMember_E3B27ACFC73DAF105431C671605F566A" xlink:type="locator"/>

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<link:label id="lab_us-gaap_MaximumMember_348826DB18825A28C79CC671605F63AB_terseLabel_en-US" xlink:label="lab_us-gaap_MaximumMember_348826DB18825A28C79CC671605F63AB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maximum </link:label>

<link:label id="lab_us-gaap_MaximumMember_348826DB18825A28C79CC671605F63AB_label_en-US" xlink:label="lab_us-gaap_MaximumMember_348826DB18825A28C79CC671605F63AB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Maximum [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MaximumMember" xlink:label="loc_us-gaap_MaximumMember_348826DB18825A28C79CC671605F63AB" xlink:type="locator"/>

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<link:label id="lab_us-gaap_MinimumMember_5CAB09F993D28ACA4C2DC671605F8190_terseLabel_en-US" xlink:label="lab_us-gaap_MinimumMember_5CAB09F993D28ACA4C2DC671605F8190" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Minimum </link:label>

<link:label id="lab_us-gaap_MinimumMember_5CAB09F993D28ACA4C2DC671605F8190_label_en-US" xlink:label="lab_us-gaap_MinimumMember_5CAB09F993D28ACA4C2DC671605F8190" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Minimum [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinimumMember" xlink:label="loc_us-gaap_MinimumMember_5CAB09F993D28ACA4C2DC671605F8190" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_665A82BDE417209E05E3C671605F85B4_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_665A82BDE417209E05E3C671605F85B4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Stock-Based Compensation </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_665A82BDE417209E05E3C671605F85B4_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_665A82BDE417209E05E3C671605F85B4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_665A82BDE417209E05E3C671605F85B4" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_905591994FC9328D56C3C671605F9FA6_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_905591994FC9328D56C3C671605F9FA6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common shares available for grant (in shares) </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_905591994FC9328D56C3C671605F9FA6_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_905591994FC9328D56C3C671605F9FA6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_905591994FC9328D56C3C671605F9FA6" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3A21A89342D41D7B21EEC671605F9064_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3A21A89342D41D7B21EEC671605F9064" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common shares available for issuance (in shares) </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3A21A89342D41D7B21EEC671605F9064_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3A21A89342D41D7B21EEC671605F9064" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3A21A89342D41D7B21EEC671605F9064" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_F1757B37FAA0D2752794C671605F829B_terseLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense_F1757B37FAA0D2752794C671605F829B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Compensation cost that has been charged against income </link:label>

<link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_F1757B37FAA0D2752794C671605F829B_label_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense_F1757B37FAA0D2752794C671605F829B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Allocated Share-based Compensation Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense_F1757B37FAA0D2752794C671605F829B" xlink:type="locator"/>

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<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_7CAA167F0F31B50DDFC8C671605F2097_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_7CAA167F0F31B50DDFC8C671605F2097" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total income tax benefit recognized </link:label>

<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_7CAA167F0F31B50DDFC8C671605F2097_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_7CAA167F0F31B50DDFC8C671605F2097" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Employee Service Share-based Compensation, Tax Benefit from Compensation Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_7CAA167F0F31B50DDFC8C671605F2097" xlink:type="locator"/>

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<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_F11F77620B218C5A4C13C671605FCB9C_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_F11F77620B218C5A4C13C671605FCB9C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total unrecognized compensation cost related to nonvested share-based compensation arrangements granted </link:label>

<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_F11F77620B218C5A4C13C671605FCB9C_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_F11F77620B218C5A4C13C671605FCB9C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_F11F77620B218C5A4C13C671605FCB9C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_F11F77620B218C5A4C13C671605FCB9C" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_F11F77620B218C5A4C13C671605FCB9C" xlink:type="arc"/>

<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_6E1E54314312F8CE41FFC671605F0C33_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_6E1E54314312F8CE41FFC671605F0C33" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Expected weighted-average period of recognition of unrecognized compensation cost </link:label>

<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_6E1E54314312F8CE41FFC671605F0C33_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_6E1E54314312F8CE41FFC671605F0C33" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_6E1E54314312F8CE41FFC671605F0C33" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_F0C32D868F4750D6953AC671605F38F5_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_F0C32D868F4750D6953AC671605F38F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total fair value of shares vested </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_F0C32D868F4750D6953AC671605F38F5_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_F0C32D868F4750D6953AC671605F38F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_F0C32D868F4750D6953AC671605F38F5" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid_D5B4356D7B9FE0F8D6E3C6A461E4BCE0_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid_D5B4356D7B9FE0F8D6E3C6A461E4BCE0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Share-based liabilities paid </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid_D5B4356D7B9FE0F8D6E3C6A461E4BCE0_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid_D5B4356D7B9FE0F8D6E3C6A461E4BCE0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Share-based Liabilities Paid </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid_D5B4356D7B9FE0F8D6E3C6A461E4BCE0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid_D5B4356D7B9FE0F8D6E3C6A461E4BCE0" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid_D5B4356D7B9FE0F8D6E3C6A461E4BCE0" xlink:type="arc"/>

<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards_C63FD3B77CFB949C8CA0C6A31276C6F6_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards_C63FD3B77CFB949C8CA0C6A31276C6F6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash flow effect, cash used to settle awards </link:label>

<link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards_C63FD3B77CFB949C8CA0C6A31276C6F6_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards_C63FD3B77CFB949C8CA0C6A31276C6F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Employee Service Share-based Compensation, Cash Flow Effect, Cash Used to Settle Awards </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards_C63FD3B77CFB949C8CA0C6A31276C6F6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards_C63FD3B77CFB949C8CA0C6A31276C6F6" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards_C63FD3B77CFB949C8CA0C6A31276C6F6" xlink:type="arc"/>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockUnitsandStockGrantedAdditionalDisclosuresAbstract_F189D68F11E83F959482C671605FB80E_terseLabel_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockUnitsandStockGrantedAdditionalDisclosuresAbstract_F189D68F11E83F959482C671605FB80E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Restricted Stock Units, Stock Grants and Stock Units </link:label>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockUnitsandStockGrantedAdditionalDisclosuresAbstract_F189D68F11E83F959482C671605FB80E_label_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockUnitsandStockGrantedAdditionalDisclosuresAbstract_F189D68F11E83F959482C671605FB80E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Units and Stock Granted Additional Disclosures [Abstract] </link:label>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockUnitsandStockGrantedAdditionalDisclosuresAbstract_F189D68F11E83F959482C671605FB80E_documentation_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockUnitsandStockGrantedAdditionalDisclosuresAbstract_F189D68F11E83F959482C671605FB80E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Units and Stock Granted Additional Disclosures [Abstract] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockUnitsandStockGrantedAdditionalDisclosuresAbstract" xlink:label="loc_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockUnitsandStockGrantedAdditionalDisclosuresAbstract_F189D68F11E83F959482C671605FB80E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_F6ADC384E513F9555672C671605FA055_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_F6ADC384E513F9555672C671605FA055" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Vesting period </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_F6ADC384E513F9555672C671605FA055_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_F6ADC384E513F9555672C671605FA055" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_F6ADC384E513F9555672C671605FA055" xlink:type="locator"/>

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<link:label id="lab_pnw_PercentageofCashinwhichElectiontoReceivePaymentMaybeMadebyParticipantsforDeferralsOptionTwo_4AA26EA2C4B47F47F1A2C671605FB75B_terseLabel_en-US" xlink:label="lab_pnw_PercentageofCashinwhichElectiontoReceivePaymentMaybeMadebyParticipantsforDeferralsOptionTwo_4AA26EA2C4B47F47F1A2C671605FB75B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of cash that the participant may elect as a dividend for the first option available under the plan </link:label>

<link:label id="lab_pnw_PercentageofCashinwhichElectiontoReceivePaymentMaybeMadebyParticipantsforDeferralsOptionTwo_4AA26EA2C4B47F47F1A2C671605FB75B_label_en-US" xlink:label="lab_pnw_PercentageofCashinwhichElectiontoReceivePaymentMaybeMadebyParticipantsforDeferralsOptionTwo_4AA26EA2C4B47F47F1A2C671605FB75B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percentage of Cash in which Election to Receive Payment May be Made by Participants for Deferrals Option Two </link:label>

<link:label id="lab_pnw_PercentageofCashinwhichElectiontoReceivePaymentMaybeMadebyParticipantsforDeferralsOptionTwo_4AA26EA2C4B47F47F1A2C671605FB75B_documentation_en-US" xlink:label="lab_pnw_PercentageofCashinwhichElectiontoReceivePaymentMaybeMadebyParticipantsforDeferralsOptionTwo_4AA26EA2C4B47F47F1A2C671605FB75B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Percentage of Cash in which Election to Receive Payment May be Made by Participants for Deferrals Option Two </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PercentageofCashinwhichElectiontoReceivePaymentMaybeMadebyParticipantsforDeferralsOptionTwo" xlink:label="loc_pnw_PercentageofCashinwhichElectiontoReceivePaymentMaybeMadebyParticipantsforDeferralsOptionTwo_4AA26EA2C4B47F47F1A2C671605FB75B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PercentageofCashinwhichElectiontoReceivePaymentMaybeMadebyParticipantsforDeferralsOptionTwo_4AA26EA2C4B47F47F1A2C671605FB75B" xlink:to="lab_pnw_PercentageofCashinwhichElectiontoReceivePaymentMaybeMadebyParticipantsforDeferralsOptionTwo_4AA26EA2C4B47F47F1A2C671605FB75B" xlink:type="arc"/>

<link:label id="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionTwo_3606CFE2617AA0505067C671605FE0D8_terseLabel_en-US" xlink:label="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionTwo_3606CFE2617AA0505067C671605FE0D8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of Fully Transferable Shares of Stock in which Election to Receive Payment May be Made by Participants for Deferrals Option Two </link:label>

<link:label id="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionTwo_3606CFE2617AA0505067C671605FE0D8_label_en-US" xlink:label="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionTwo_3606CFE2617AA0505067C671605FE0D8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percentage of Fully Transferable Shares of Stock in which Election to Receive Payment May be Made by Participants for Deferrals Option Two </link:label>

<link:label id="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionTwo_3606CFE2617AA0505067C671605FE0D8_documentation_en-US" xlink:label="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionTwo_3606CFE2617AA0505067C671605FE0D8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the percentage of fully transferable shares of stock that the participant may elect as a deferred grant for the second option available under the plan. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionTwo" xlink:label="loc_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionTwo_3606CFE2617AA0505067C671605FE0D8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionTwo_3606CFE2617AA0505067C671605FE0D8" xlink:to="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionTwo_3606CFE2617AA0505067C671605FE0D8" xlink:type="arc"/>

<link:label id="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionOne_34E5274FA092C29F1F5DC671605FD46C_terseLabel_en-US" xlink:label="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionOne_34E5274FA092C29F1F5DC671605FD46C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of fully transferable shares of stock that the participant may elect as a deferral for the first option available under the plan </link:label>

<link:label id="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionOne_34E5274FA092C29F1F5DC671605FD46C_label_en-US" xlink:label="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionOne_34E5274FA092C29F1F5DC671605FD46C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percentage of Fully Transferable Shares of Stock in which Election to Receive Payment May be Made by Participants for Deferrals Option One </link:label>

<link:label id="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionOne_34E5274FA092C29F1F5DC671605FD46C_documentation_en-US" xlink:label="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionOne_34E5274FA092C29F1F5DC671605FD46C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the percentage of fully transferable shares of stock that the participant may elect as a deferred grant for the first option available under the plan. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionOne" xlink:label="loc_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionOne_34E5274FA092C29F1F5DC671605FD46C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionOne_34E5274FA092C29F1F5DC671605FD46C" xlink:to="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceivePaymentMayBeMadeByParticipantsForDeferralsOptionOne_34E5274FA092C29F1F5DC671605FD46C" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_D5DABE4160C895FCD159C67160600E01_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_D5DABE4160C895FCD159C67160600E01" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Granted (in shares) </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_D5DABE4160C895FCD159C67160600E01_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_D5DABE4160C895FCD159C67160600E01" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_D5DABE4160C895FCD159C67160600E01" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_D5DABE4160C895FCD159C67160600E01" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_D5DABE4160C895FCD159C67160600E01" xlink:type="arc"/>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalSharesToBeGrantedIfPerformanceRequirementsAreMet_BBABD60069B76529D960C671606058B2_terseLabel_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalSharesToBeGrantedIfPerformanceRequirementsAreMet_BBABD60069B76529D960C671606058B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additional shares to be granted as retention award if performance requirements are met </link:label>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalSharesToBeGrantedIfPerformanceRequirementsAreMet_BBABD60069B76529D960C671606058B2_label_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalSharesToBeGrantedIfPerformanceRequirementsAreMet_BBABD60069B76529D960C671606058B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share Based Compensation Arrangement by Share Based Payment Award Equity Instruments Other than Options Additional Shares to be Granted if Performance Requirements are Met </link:label>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalSharesToBeGrantedIfPerformanceRequirementsAreMet_BBABD60069B76529D960C671606058B2_documentation_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalSharesToBeGrantedIfPerformanceRequirementsAreMet_BBABD60069B76529D960C671606058B2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the number of additional grants to be made during the period on other than stock (or unit) option plans if performance requirements are met. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalSharesToBeGrantedIfPerformanceRequirementsAreMet" xlink:label="loc_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalSharesToBeGrantedIfPerformanceRequirementsAreMet_BBABD60069B76529D960C671606058B2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalSharesToBeGrantedIfPerformanceRequirementsAreMet_BBABD60069B76529D960C671606058B2" xlink:to="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalSharesToBeGrantedIfPerformanceRequirementsAreMet_BBABD60069B76529D960C671606058B2" xlink:type="arc"/>

<link:label id="lab_pnw_PercentageOfCashInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_64A3E60CB918F7AE8627C6716060B4F5_terseLabel_en-US" xlink:label="lab_pnw_PercentageOfCashInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_64A3E60CB918F7AE8627C6716060B4F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of cash that the participant may elect as a dividend equivalent deferral for the first option available under the plan </link:label>

<link:label id="lab_pnw_PercentageOfCashInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_64A3E60CB918F7AE8627C6716060B4F5_label_en-US" xlink:label="lab_pnw_PercentageOfCashInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_64A3E60CB918F7AE8627C6716060B4F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percentage of Cash in which Election to Receive Dividend Equivalent Payment May be Made by Participants for Deferrals Option One </link:label>

<link:label id="lab_pnw_PercentageOfCashInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_64A3E60CB918F7AE8627C6716060B4F5_documentation_en-US" xlink:label="lab_pnw_PercentageOfCashInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_64A3E60CB918F7AE8627C6716060B4F5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the percentage of cash that the participant may elect as a deferred dividend equivalent payment under the first option available under the plan. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PercentageOfCashInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne" xlink:label="loc_pnw_PercentageOfCashInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_64A3E60CB918F7AE8627C6716060B4F5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PercentageOfCashInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_64A3E60CB918F7AE8627C6716060B4F5" xlink:to="lab_pnw_PercentageOfCashInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_64A3E60CB918F7AE8627C6716060B4F5" xlink:type="arc"/>

<link:label id="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_031E9221F05350EA27E2C67160606B5C_terseLabel_en-US" xlink:label="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_031E9221F05350EA27E2C67160606B5C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of fully transferable shares of stock that the participant may elect as a dividend equivalent deferral for the first option available under the plan </link:label>

<link:label id="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_031E9221F05350EA27E2C67160606B5C_label_en-US" xlink:label="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_031E9221F05350EA27E2C67160606B5C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percentage of Fully Transferable Shares of Stock in which Election to Receive Dividend Equivalent Payment May be Made by Participants for Deferrals Option One </link:label>

<link:label id="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_031E9221F05350EA27E2C67160606B5C_documentation_en-US" xlink:label="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_031E9221F05350EA27E2C67160606B5C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the percentage of fully transferable shares of stock that the participant may elect as a deferred dividend equivalent payment for the first option available under the plan. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne" xlink:label="loc_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_031E9221F05350EA27E2C67160606B5C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_031E9221F05350EA27E2C67160606B5C" xlink:to="lab_pnw_PercentageOfFullyTransferableSharesOfStockInWhichElectionToReceiveDividendEquivalentPaymentMayBeMadeByParticipantsForDeferralsOptionOne_031E9221F05350EA27E2C67160606B5C" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalDisclosuresAbstract_BEA4960D5B8934D14C1DC6716060571A_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalDisclosuresAbstract_BEA4960D5B8934D14C1DC6716060571A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Performance Shares </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalDisclosuresAbstract_BEA4960D5B8934D14C1DC6716060571A_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalDisclosuresAbstract_BEA4960D5B8934D14C1DC6716060571A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalDisclosuresAbstract" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalDisclosuresAbstract_BEA4960D5B8934D14C1DC6716060571A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalDisclosuresAbstract_BEA4960D5B8934D14C1DC6716060571A" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAdditionalDisclosuresAbstract_BEA4960D5B8934D14C1DC6716060571A" xlink:type="arc"/>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPerformanceElementsCriteria_ED3F82F7141FAB8C5C14C6716060DD7D_terseLabel_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPerformanceElementsCriteria_ED3F82F7141FAB8C5C14C6716060DD7D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of performance element criteria </link:label>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPerformanceElementsCriteria_ED3F82F7141FAB8C5C14C6716060DD7D_label_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPerformanceElementsCriteria_ED3F82F7141FAB8C5C14C6716060DD7D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share Based Compensation Arrangement by Share Based Payment Award Number of Performance Elements Criteria </link:label>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPerformanceElementsCriteria_ED3F82F7141FAB8C5C14C6716060DD7D_documentation_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPerformanceElementsCriteria_ED3F82F7141FAB8C5C14C6716060DD7D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number of performance elements criteria that affect the number of shares received after the end of the specified performance period, if performance criteria conditions are met. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPerformanceElementsCriteria" xlink:label="loc_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPerformanceElementsCriteria_ED3F82F7141FAB8C5C14C6716060DD7D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPerformanceElementsCriteria_ED3F82F7141FAB8C5C14C6716060DD7D" xlink:to="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPerformanceElementsCriteria_ED3F82F7141FAB8C5C14C6716060DD7D" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_C9E5BF180C3E274B2EB2C671606087FC_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_C9E5BF180C3E274B2EB2C671606087FC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Performance period </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_C9E5BF180C3E274B2EB2C671606087FC_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_C9E5BF180C3E274B2EB2C671606087FC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_C9E5BF180C3E274B2EB2C671606087FC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_C9E5BF180C3E274B2EB2C671606087FC" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_C9E5BF180C3E274B2EB2C671606087FC" xlink:type="arc"/>

<link:label id="lab_pnw_PercentageOfAwardsThatVestBasedOnPercentileRankingOfTotalShareholderReturn_126FFA4280EEE3184F52C6716060D1EE_terseLabel_en-US" xlink:label="lab_pnw_PercentageOfAwardsThatVestBasedOnPercentileRankingOfTotalShareholderReturn_126FFA4280EEE3184F52C6716060D1EE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of the awards that vest based on a percentile ranking of total shareholder return </link:label>

<link:label id="lab_pnw_PercentageOfAwardsThatVestBasedOnPercentileRankingOfTotalShareholderReturn_126FFA4280EEE3184F52C6716060D1EE_label_en-US" xlink:label="lab_pnw_PercentageOfAwardsThatVestBasedOnPercentileRankingOfTotalShareholderReturn_126FFA4280EEE3184F52C6716060D1EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percentage of Awards, that Vest Based on Percentile Ranking of Total Shareholder Return </link:label>

<link:label id="lab_pnw_PercentageOfAwardsThatVestBasedOnPercentileRankingOfTotalShareholderReturn_126FFA4280EEE3184F52C6716060D1EE_documentation_en-US" xlink:label="lab_pnw_PercentageOfAwardsThatVestBasedOnPercentileRankingOfTotalShareholderReturn_126FFA4280EEE3184F52C6716060D1EE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the percentage of the equity based awards that vest based on a percentile ranking of total shareholder return compared with the total shareholder return of all relevant companies in a specified utilities index. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PercentageOfAwardsThatVestBasedOnPercentileRankingOfTotalShareholderReturn" xlink:label="loc_pnw_PercentageOfAwardsThatVestBasedOnPercentileRankingOfTotalShareholderReturn_126FFA4280EEE3184F52C6716060D1EE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PercentageOfAwardsThatVestBasedOnPercentileRankingOfTotalShareholderReturn_126FFA4280EEE3184F52C6716060D1EE" xlink:to="lab_pnw_PercentageOfAwardsThatVestBasedOnPercentileRankingOfTotalShareholderReturn_126FFA4280EEE3184F52C6716060D1EE" xlink:type="arc"/>

<link:label id="lab_pnw_PercentageOfAwardsThatVestBasedOnNonFinancialSeparatePerformanceMetrics_1ABA44099B48AA0901D0C6716060A496_terseLabel_en-US" xlink:label="lab_pnw_PercentageOfAwardsThatVestBasedOnNonFinancialSeparatePerformanceMetrics_1ABA44099B48AA0901D0C6716060A496" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of the awards that vest based on non-financial separate performance metrics </link:label>

<link:label id="lab_pnw_PercentageOfAwardsThatVestBasedOnNonFinancialSeparatePerformanceMetrics_1ABA44099B48AA0901D0C6716060A496_label_en-US" xlink:label="lab_pnw_PercentageOfAwardsThatVestBasedOnNonFinancialSeparatePerformanceMetrics_1ABA44099B48AA0901D0C6716060A496" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percentage of Awards, that Vest Based on Non Financial Separate Performance Metrics </link:label>

<link:label id="lab_pnw_PercentageOfAwardsThatVestBasedOnNonFinancialSeparatePerformanceMetrics_1ABA44099B48AA0901D0C6716060A496_documentation_en-US" xlink:label="lab_pnw_PercentageOfAwardsThatVestBasedOnNonFinancialSeparatePerformanceMetrics_1ABA44099B48AA0901D0C6716060A496" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the percentage of the awards that vest based on non-financial separate performance metrics. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PercentageOfAwardsThatVestBasedOnNonFinancialSeparatePerformanceMetrics" xlink:label="loc_pnw_PercentageOfAwardsThatVestBasedOnNonFinancialSeparatePerformanceMetrics_1ABA44099B48AA0901D0C6716060A496" xlink:type="locator"/>

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<link:label id="lab_pnw_NumberOfNonFinancialSeparatePerformanceMetricsBasedOnWhichAwardsVest_F332AE73765C8C4F8EF8C671606075BD_terseLabel_en-US" xlink:label="lab_pnw_NumberOfNonFinancialSeparatePerformanceMetricsBasedOnWhichAwardsVest_F332AE73765C8C4F8EF8C671606075BD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of non-financial separate performance metrics based on which awards vest </link:label>

<link:label id="lab_pnw_NumberOfNonFinancialSeparatePerformanceMetricsBasedOnWhichAwardsVest_F332AE73765C8C4F8EF8C671606075BD_label_en-US" xlink:label="lab_pnw_NumberOfNonFinancialSeparatePerformanceMetricsBasedOnWhichAwardsVest_F332AE73765C8C4F8EF8C671606075BD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number of Non Financial Separate Performance Metrics Based on which Awards, Vest </link:label>

<link:label id="lab_pnw_NumberOfNonFinancialSeparatePerformanceMetricsBasedOnWhichAwardsVest_F332AE73765C8C4F8EF8C671606075BD_documentation_en-US" xlink:label="lab_pnw_NumberOfNonFinancialSeparatePerformanceMetricsBasedOnWhichAwardsVest_F332AE73765C8C4F8EF8C671606075BD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the number of non-financial separate performance metrics based on which the awards vest. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NumberOfNonFinancialSeparatePerformanceMetricsBasedOnWhichAwardsVest" xlink:label="loc_pnw_NumberOfNonFinancialSeparatePerformanceMetricsBasedOnWhichAwardsVest_F332AE73765C8C4F8EF8C671606075BD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NumberOfNonFinancialSeparatePerformanceMetricsBasedOnWhichAwardsVest_F332AE73765C8C4F8EF8C671606075BD" xlink:to="lab_pnw_NumberOfNonFinancialSeparatePerformanceMetricsBasedOnWhichAwardsVest_F332AE73765C8C4F8EF8C671606075BD" xlink:type="arc"/>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedAsPercentageOfTargetAward_FC78CCFDCE9F35147510C6716060BD3A_terseLabel_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedAsPercentageOfTargetAward_FC78CCFDCE9F35147510C6716060BD3A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Exact number of shares issued as a percentage of the target award </link:label>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedAsPercentageOfTargetAward_FC78CCFDCE9F35147510C6716060BD3A_label_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedAsPercentageOfTargetAward_FC78CCFDCE9F35147510C6716060BD3A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share Based Compensation Arrangement by Share Based Payment Award Shares Issued as Percentage of Target Award </link:label>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedAsPercentageOfTargetAward_FC78CCFDCE9F35147510C6716060BD3A_documentation_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedAsPercentageOfTargetAward_FC78CCFDCE9F35147510C6716060BD3A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the number of shares issued as a percentage of the target award. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedAsPercentageOfTargetAward" xlink:label="loc_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedAsPercentageOfTargetAward_FC78CCFDCE9F35147510C6716060BD3A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedAsPercentageOfTargetAward_FC78CCFDCE9F35147510C6716060BD3A" xlink:to="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedAsPercentageOfTargetAward_FC78CCFDCE9F35147510C6716060BD3A" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatedOperationsAbstract_41BD6D0D0B0F3D9DD40BE72E398E81A2_label_en-US" xlink:label="lab_us-gaap_RegulatedOperationsAbstract_41BD6D0D0B0F3D9DD40BE72E398E81A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulated Operations [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatedOperationsAbstract" xlink:label="loc_us-gaap_RegulatedOperationsAbstract_41BD6D0D0B0F3D9DD40BE72E398E81A2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatedOperationsAbstract_41BD6D0D0B0F3D9DD40BE72E398E81A2" xlink:to="lab_us-gaap_RegulatedOperationsAbstract_41BD6D0D0B0F3D9DD40BE72E398E81A2" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfRegulatoryLiabilitiesTable_C39AD4870F4B46462B6CE72E398E9C7F_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRegulatoryLiabilitiesTable_C39AD4870F4B46462B6CE72E398E9C7F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Regulatory Liabilities [Table] </link:label>

<link:label id="lab_us-gaap_ScheduleOfRegulatoryLiabilitiesTable_C39AD4870F4B46462B6CE72E398E9C7F_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRegulatoryLiabilitiesTable_C39AD4870F4B46462B6CE72E398E9C7F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Regulatory Liabilities [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRegulatoryLiabilitiesTable" xlink:label="loc_us-gaap_ScheduleOfRegulatoryLiabilitiesTable_C39AD4870F4B46462B6CE72E398E9C7F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRegulatoryLiabilitiesTable_C39AD4870F4B46462B6CE72E398E9C7F" xlink:to="lab_us-gaap_ScheduleOfRegulatoryLiabilitiesTable_C39AD4870F4B46462B6CE72E398E9C7F" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryLiabilityAxis_9E39EF94AC573B283CC9E72E398E1700_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryLiabilityAxis_9E39EF94AC573B283CC9E72E398E1700" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory Liability [Axis] </link:label>

<link:label id="lab_us-gaap_RegulatoryLiabilityAxis_9E39EF94AC573B283CC9E72E398E1700_label_en-US" xlink:label="lab_us-gaap_RegulatoryLiabilityAxis_9E39EF94AC573B283CC9E72E398E1700" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Liability [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryLiabilityAxis" xlink:label="loc_us-gaap_RegulatoryLiabilityAxis_9E39EF94AC573B283CC9E72E398E1700" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryLiabilityAxis_9E39EF94AC573B283CC9E72E398E1700" xlink:to="lab_us-gaap_RegulatoryLiabilityAxis_9E39EF94AC573B283CC9E72E398E1700" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryLiabilityDomain_2C552F49C426C51BE7D5E72E398E2ABF_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryLiabilityDomain_2C552F49C426C51BE7D5E72E398E2ABF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory Liability [Domain] </link:label>

<link:label id="lab_us-gaap_RegulatoryLiabilityDomain_2C552F49C426C51BE7D5E72E398E2ABF_label_en-US" xlink:label="lab_us-gaap_RegulatoryLiabilityDomain_2C552F49C426C51BE7D5E72E398E2ABF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Liability [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryLiabilityDomain" xlink:label="loc_us-gaap_RegulatoryLiabilityDomain_2C552F49C426C51BE7D5E72E398E2ABF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryLiabilityDomain_2C552F49C426C51BE7D5E72E398E2ABF" xlink:to="lab_us-gaap_RegulatoryLiabilityDomain_2C552F49C426C51BE7D5E72E398E2ABF" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetRetirementObligationCostsMember_A78BECDE4B4B81B9D5C4E72E398E8BD8_terseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationCostsMember_A78BECDE4B4B81B9D5C4E72E398E8BD8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Asset retirement obligations </link:label>

<link:label id="lab_us-gaap_AssetRetirementObligationCostsMember_A78BECDE4B4B81B9D5C4E72E398E8BD8_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationCostsMember_A78BECDE4B4B81B9D5C4E72E398E8BD8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation Costs [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetRetirementObligationCostsMember" xlink:label="loc_us-gaap_AssetRetirementObligationCostsMember_A78BECDE4B4B81B9D5C4E72E398E8BD8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligationCostsMember_A78BECDE4B4B81B9D5C4E72E398E8BD8" xlink:to="lab_us-gaap_AssetRetirementObligationCostsMember_A78BECDE4B4B81B9D5C4E72E398E8BD8" xlink:type="arc"/>

<link:label id="lab_us-gaap_RemovalCostsMember_58AC9D40A878D55F99ECE72E398E8681_terseLabel_en-US" xlink:label="lab_us-gaap_RemovalCostsMember_58AC9D40A878D55F99ECE72E398E8681" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Removal costs </link:label>

<link:label id="lab_us-gaap_RemovalCostsMember_58AC9D40A878D55F99ECE72E398E8681_label_en-US" xlink:label="lab_us-gaap_RemovalCostsMember_58AC9D40A878D55F99ECE72E398E8681" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Removal Costs [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RemovalCostsMember" xlink:label="loc_us-gaap_RemovalCostsMember_58AC9D40A878D55F99ECE72E398E8681" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RemovalCostsMember_58AC9D40A878D55F99ECE72E398E8681" xlink:to="lab_us-gaap_RemovalCostsMember_58AC9D40A878D55F99ECE72E398E8681" xlink:type="arc"/>

<link:label id="lab_us-gaap_PostretirementBenefitCostsMember_554C4A80FE7BE8F70709E72E398E49F3_verboseLabel_en-US" xlink:label="lab_us-gaap_PostretirementBenefitCostsMember_554C4A80FE7BE8F70709E72E398E49F3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Other postretirement benefits </link:label>

<link:label id="lab_us-gaap_PostretirementBenefitCostsMember_554C4A80FE7BE8F70709E72E398E49F3_label_en-US" xlink:label="lab_us-gaap_PostretirementBenefitCostsMember_554C4A80FE7BE8F70709E72E398E49F3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Postretirement Benefit Costs [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PostretirementBenefitCostsMember" xlink:label="loc_us-gaap_PostretirementBenefitCostsMember_554C4A80FE7BE8F70709E72E398E49F3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PostretirementBenefitCostsMember_554C4A80FE7BE8F70709E72E398E49F3" xlink:to="lab_us-gaap_PostretirementBenefitCostsMember_554C4A80FE7BE8F70709E72E398E49F3" xlink:type="arc"/>

<link:label id="lab_us-gaap_InvestmentCreditMember_E8D599478AB85947ACAEE72E398E2BF2_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentCreditMember_E8D599478AB85947ACAEE72E398E2BF2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income taxes — deferred investment tax credit </link:label>

<link:label id="lab_us-gaap_InvestmentCreditMember_E8D599478AB85947ACAEE72E398E2BF2_label_en-US" xlink:label="lab_us-gaap_InvestmentCreditMember_E8D599478AB85947ACAEE72E398E2BF2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investment Tax Credit Carryforward [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentCreditMember" xlink:label="loc_us-gaap_InvestmentCreditMember_E8D599478AB85947ACAEE72E398E2BF2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentCreditMember_E8D599478AB85947ACAEE72E398E2BF2" xlink:to="lab_us-gaap_InvestmentCreditMember_E8D599478AB85947ACAEE72E398E2BF2" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredIncomeTaxChargesMember_DE0A3755536A96F8D418E72E398E6CF7_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxChargesMember_DE0A3755536A96F8D418E72E398E6CF7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income taxes - change in rates </link:label>

<link:label id="lab_us-gaap_DeferredIncomeTaxChargesMember_DE0A3755536A96F8D418E72E398E6CF7_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxChargesMember_DE0A3755536A96F8D418E72E398E6CF7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Income Tax Charge [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredIncomeTaxChargesMember" xlink:label="loc_us-gaap_DeferredIncomeTaxChargesMember_DE0A3755536A96F8D418E72E398E6CF7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxChargesMember_DE0A3755536A96F8D418E72E398E6CF7" xlink:to="lab_us-gaap_DeferredIncomeTaxChargesMember_DE0A3755536A96F8D418E72E398E6CF7" xlink:type="arc"/>

<link:label id="lab_pnw_SpentNuclearFuelMember_888813FE1632249B49A9E72E398EDCC7_terseLabel_en-US" xlink:label="lab_pnw_SpentNuclearFuelMember_888813FE1632249B49A9E72E398EDCC7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Spent nuclear fuel </link:label>

<link:label id="lab_pnw_SpentNuclearFuelMember_888813FE1632249B49A9E72E398EDCC7_label_en-US" xlink:label="lab_pnw_SpentNuclearFuelMember_888813FE1632249B49A9E72E398EDCC7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Spent Nuclear Fuel [Member] </link:label>

<link:label id="lab_pnw_SpentNuclearFuelMember_888813FE1632249B49A9E72E398EDCC7_documentation_en-US" xlink:label="lab_pnw_SpentNuclearFuelMember_888813FE1632249B49A9E72E398EDCC7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Liability associated with spent nuclear fuel. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SpentNuclearFuelMember" xlink:label="loc_pnw_SpentNuclearFuelMember_888813FE1632249B49A9E72E398EDCC7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SpentNuclearFuelMember_888813FE1632249B49A9E72E398EDCC7" xlink:to="lab_pnw_SpentNuclearFuelMember_888813FE1632249B49A9E72E398EDCC7" xlink:type="arc"/>

<link:label id="lab_us-gaap_RenewableEnergyProgramMember_3AC9EE968F91C462EDACE72E398F6094_terseLabel_en-US" xlink:label="lab_us-gaap_RenewableEnergyProgramMember_3AC9EE968F91C462EDACE72E398F6094" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Renewable energy standard (b) </link:label>

<link:label id="lab_us-gaap_RenewableEnergyProgramMember_3AC9EE968F91C462EDACE72E398F6094_label_en-US" xlink:label="lab_us-gaap_RenewableEnergyProgramMember_3AC9EE968F91C462EDACE72E398F6094" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Renewable Energy Program [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RenewableEnergyProgramMember" xlink:label="loc_us-gaap_RenewableEnergyProgramMember_3AC9EE968F91C462EDACE72E398F6094" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RenewableEnergyProgramMember_3AC9EE968F91C462EDACE72E398F6094" xlink:to="lab_us-gaap_RenewableEnergyProgramMember_3AC9EE968F91C462EDACE72E398F6094" xlink:type="arc"/>

<link:label id="lab_pnw_DemandSideManagementMember_0C097DA53733058C7154E72E398F0156_terseLabel_en-US" xlink:label="lab_pnw_DemandSideManagementMember_0C097DA53733058C7154E72E398F0156" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Demand side management (b) </link:label>

<link:label id="lab_pnw_DemandSideManagementMember_0C097DA53733058C7154E72E398F0156_label_en-US" xlink:label="lab_pnw_DemandSideManagementMember_0C097DA53733058C7154E72E398F0156" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Demand Side Management [Member] </link:label>

<link:label id="lab_pnw_DemandSideManagementMember_0C097DA53733058C7154E72E398F0156_documentation_en-US" xlink:label="lab_pnw_DemandSideManagementMember_0C097DA53733058C7154E72E398F0156" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Demand Side Management [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DemandSideManagementMember" xlink:label="loc_pnw_DemandSideManagementMember_0C097DA53733058C7154E72E398F0156" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DemandSideManagementMember_0C097DA53733058C7154E72E398F0156" xlink:to="lab_pnw_DemandSideManagementMember_0C097DA53733058C7154E72E398F0156" xlink:type="arc"/>

<link:label id="lab_pnw_SundanceMaintenanceMember_1F100FFAD31E571F8558E72E398F25A2_terseLabel_en-US" xlink:label="lab_pnw_SundanceMaintenanceMember_1F100FFAD31E571F8558E72E398F25A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Sundance maintenance </link:label>

<link:label id="lab_pnw_SundanceMaintenanceMember_1F100FFAD31E571F8558E72E398F25A2_label_en-US" xlink:label="lab_pnw_SundanceMaintenanceMember_1F100FFAD31E571F8558E72E398F25A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sundance Maintenance [Member] </link:label>

<link:label id="lab_pnw_SundanceMaintenanceMember_1F100FFAD31E571F8558E72E398F25A2_documentation_en-US" xlink:label="lab_pnw_SundanceMaintenanceMember_1F100FFAD31E571F8558E72E398F25A2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Sundance Maintenance [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SundanceMaintenanceMember" xlink:label="loc_pnw_SundanceMaintenanceMember_1F100FFAD31E571F8558E72E398F25A2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SundanceMaintenanceMember_1F100FFAD31E571F8558E72E398F25A2" xlink:to="lab_pnw_SundanceMaintenanceMember_1F100FFAD31E571F8558E72E398F25A2" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredFuelandPurchasedPowerMember_0C584C57FC3BC9134A4DE72E398FF1F0_terseLabel_en-US" xlink:label="lab_pnw_DeferredFuelandPurchasedPowerMember_0C584C57FC3BC9134A4DE72E398FF1F0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred fuel and purchased power (b) (c) </link:label>

<link:label id="lab_pnw_DeferredFuelandPurchasedPowerMember_0C584C57FC3BC9134A4DE72E398FF1F0_label_en-US" xlink:label="lab_pnw_DeferredFuelandPurchasedPowerMember_0C584C57FC3BC9134A4DE72E398FF1F0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Fuel and Purchased Power [Member] </link:label>

<link:label id="lab_pnw_DeferredFuelandPurchasedPowerMember_0C584C57FC3BC9134A4DE72E398FF1F0_documentation_en-US" xlink:label="lab_pnw_DeferredFuelandPurchasedPowerMember_0C584C57FC3BC9134A4DE72E398FF1F0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Deferred Fuel and Purchased Power [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredFuelandPurchasedPowerMember" xlink:label="loc_pnw_DeferredFuelandPurchasedPowerMember_0C584C57FC3BC9134A4DE72E398FF1F0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredFuelandPurchasedPowerMember_0C584C57FC3BC9134A4DE72E398FF1F0" xlink:to="lab_pnw_DeferredFuelandPurchasedPowerMember_0C584C57FC3BC9134A4DE72E398FF1F0" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredGainsonUtilityPropertyMember_4109276E772B4E5FC6F3E76C4076755F_terseLabel_en-US" xlink:label="lab_pnw_DeferredGainsonUtilityPropertyMember_4109276E772B4E5FC6F3E76C4076755F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred gains on utility property </link:label>

<link:label id="lab_pnw_DeferredGainsonUtilityPropertyMember_4109276E772B4E5FC6F3E76C4076755F_label_en-US" xlink:label="lab_pnw_DeferredGainsonUtilityPropertyMember_4109276E772B4E5FC6F3E76C4076755F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Gains on Utility Property [Member] </link:label>

<link:label id="lab_pnw_DeferredGainsonUtilityPropertyMember_4109276E772B4E5FC6F3E76C4076755F_documentation_en-US" xlink:label="lab_pnw_DeferredGainsonUtilityPropertyMember_4109276E772B4E5FC6F3E76C4076755F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Deferred Gains on Utility Property [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredGainsonUtilityPropertyMember" xlink:label="loc_pnw_DeferredGainsonUtilityPropertyMember_4109276E772B4E5FC6F3E76C4076755F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredGainsonUtilityPropertyMember_4109276E772B4E5FC6F3E76C4076755F" xlink:to="lab_pnw_DeferredGainsonUtilityPropertyMember_4109276E772B4E5FC6F3E76C4076755F" xlink:type="arc"/>

<link:label id="lab_pnw_FourCornersCoalReclamationMember_FA462D41FC0E995A972EE72E398F52E9_terseLabel_en-US" xlink:label="lab_pnw_FourCornersCoalReclamationMember_FA462D41FC0E995A972EE72E398F52E9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Four Corners coal reclamation </link:label>

<link:label id="lab_pnw_FourCornersCoalReclamationMember_FA462D41FC0E995A972EE72E398F52E9_label_en-US" xlink:label="lab_pnw_FourCornersCoalReclamationMember_FA462D41FC0E995A972EE72E398F52E9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Four Corners Coal Reclamation [Member] </link:label>

<link:label id="lab_pnw_FourCornersCoalReclamationMember_FA462D41FC0E995A972EE72E398F52E9_documentation_en-US" xlink:label="lab_pnw_FourCornersCoalReclamationMember_FA462D41FC0E995A972EE72E398F52E9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Four Corners Coal Reclamation [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FourCornersCoalReclamationMember" xlink:label="loc_pnw_FourCornersCoalReclamationMember_FA462D41FC0E995A972EE72E398F52E9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FourCornersCoalReclamationMember_FA462D41FC0E995A972EE72E398F52E9" xlink:to="lab_pnw_FourCornersCoalReclamationMember_FA462D41FC0E995A972EE72E398F52E9" xlink:type="arc"/>

<link:label id="lab_pnw_OtherRegulatoryLiabilitiesMember_4315F5101563E152C104E72E398F8057_terseLabel_en-US" xlink:label="lab_pnw_OtherRegulatoryLiabilitiesMember_4315F5101563E152C104E72E398F8057" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_pnw_OtherRegulatoryLiabilitiesMember_4315F5101563E152C104E72E398F8057_label_en-US" xlink:label="lab_pnw_OtherRegulatoryLiabilitiesMember_4315F5101563E152C104E72E398F8057" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Regulatory Liabilities [Member] </link:label>

<link:label id="lab_pnw_OtherRegulatoryLiabilitiesMember_4315F5101563E152C104E72E398F8057_documentation_en-US" xlink:label="lab_pnw_OtherRegulatoryLiabilitiesMember_4315F5101563E152C104E72E398F8057" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Miscellaneous regulatory liabilities which are individually insignificant. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_OtherRegulatoryLiabilitiesMember" xlink:label="loc_pnw_OtherRegulatoryLiabilitiesMember_4315F5101563E152C104E72E398F8057" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_OtherRegulatoryLiabilitiesMember_4315F5101563E152C104E72E398F8057" xlink:to="lab_pnw_OtherRegulatoryLiabilitiesMember_4315F5101563E152C104E72E398F8057" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryLiabilitiesLineItems_3423F49E5CA3B2D20C2FE72E398F4478_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryLiabilitiesLineItems_3423F49E5CA3B2D20C2FE72E398F4478" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Detail of regulatory liabilities </link:label>

<link:label id="lab_us-gaap_RegulatoryLiabilitiesLineItems_3423F49E5CA3B2D20C2FE72E398F4478_label_en-US" xlink:label="lab_us-gaap_RegulatoryLiabilitiesLineItems_3423F49E5CA3B2D20C2FE72E398F4478" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Liabilities [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryLiabilitiesLineItems" xlink:label="loc_us-gaap_RegulatoryLiabilitiesLineItems_3423F49E5CA3B2D20C2FE72E398F4478" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryLiabilitiesLineItems_3423F49E5CA3B2D20C2FE72E398F4478" xlink:to="lab_us-gaap_RegulatoryLiabilitiesLineItems_3423F49E5CA3B2D20C2FE72E398F4478" xlink:type="arc"/>

<link:label id="lab_pnw_RegulatoryLiabilityIncludingDeferredFuelAndPurchasedPowerRegulatoryLiabilityCurrent_BF818C8BCEF0021780DCE72E398F7691_terseLabel_en-US" xlink:label="lab_pnw_RegulatoryLiabilityIncludingDeferredFuelAndPurchasedPowerRegulatoryLiabilityCurrent_BF818C8BCEF0021780DCE72E398F7691" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory liabilities, current </link:label>

<link:label id="lab_pnw_RegulatoryLiabilityIncludingDeferredFuelAndPurchasedPowerRegulatoryLiabilityCurrent_BF818C8BCEF0021780DCE72E398F7691_label_en-US" xlink:label="lab_pnw_RegulatoryLiabilityIncludingDeferredFuelAndPurchasedPowerRegulatoryLiabilityCurrent_BF818C8BCEF0021780DCE72E398F7691" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Liability, Including Deferred Fuel and Purchased Power Regulatory Liability Current </link:label>

<link:label id="lab_pnw_RegulatoryLiabilityIncludingDeferredFuelAndPurchasedPowerRegulatoryLiabilityCurrent_BF818C8BCEF0021780DCE72E398F7691_documentation_en-US" xlink:label="lab_pnw_RegulatoryLiabilityIncludingDeferredFuelAndPurchasedPowerRegulatoryLiabilityCurrent_BF818C8BCEF0021780DCE72E398F7691" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The amount for the individual regulatory current liability including deferred fuel and purchased power as itemized in a table of regulatory current liabilities as of the end of the period. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RegulatoryLiabilityIncludingDeferredFuelAndPurchasedPowerRegulatoryLiabilityCurrent" xlink:label="loc_pnw_RegulatoryLiabilityIncludingDeferredFuelAndPurchasedPowerRegulatoryLiabilityCurrent_BF818C8BCEF0021780DCE72E398F7691" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RegulatoryLiabilityIncludingDeferredFuelAndPurchasedPowerRegulatoryLiabilityCurrent_BF818C8BCEF0021780DCE72E398F7691" xlink:to="lab_pnw_RegulatoryLiabilityIncludingDeferredFuelAndPurchasedPowerRegulatoryLiabilityCurrent_BF818C8BCEF0021780DCE72E398F7691" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryLiabilityNoncurrent_13E590657EE7EBC82B80E72E398F51C0_positiveLabel_en-US" xlink:label="lab_us-gaap_RegulatoryLiabilityNoncurrent_13E590657EE7EBC82B80E72E398F51C0" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US"> Regulatory liabilities, non-current </link:label>

<link:label id="lab_us-gaap_RegulatoryLiabilityNoncurrent_13E590657EE7EBC82B80E72E398F51C0_label_en-US" xlink:label="lab_us-gaap_RegulatoryLiabilityNoncurrent_13E590657EE7EBC82B80E72E398F51C0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Liability, Noncurrent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryLiabilityNoncurrent" xlink:label="loc_us-gaap_RegulatoryLiabilityNoncurrent_13E590657EE7EBC82B80E72E398F51C0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryLiabilityNoncurrent_13E590657EE7EBC82B80E72E398F51C0" xlink:to="lab_us-gaap_RegulatoryLiabilityNoncurrent_13E590657EE7EBC82B80E72E398F51C0" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_0AD2CEDC5A341B24654D91C0254DD65C_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_0AD2CEDC5A341B24654D91C0254DD65C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Instruments and Hedging Activities Disclosure [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_0AD2CEDC5A341B24654D91C0254DD65C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_0AD2CEDC5A341B24654D91C0254DD65C" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_0AD2CEDC5A341B24654D91C0254DD65C" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_29A1F93D596F7B53A2DF91C0254E26B3_terseLabel_en-US" xlink:label="lab_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_29A1F93D596F7B53A2DF91C0254E26B3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type [Table] </link:label>

<link:label id="lab_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_29A1F93D596F7B53A2DF91C0254E26B3_label_en-US" xlink:label="lab_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_29A1F93D596F7B53A2DF91C0254E26B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" xlink:label="loc_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_29A1F93D596F7B53A2DF91C0254E26B3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_29A1F93D596F7B53A2DF91C0254E26B3" xlink:to="lab_us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_29A1F93D596F7B53A2DF91C0254E26B3" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeInstrumentRiskAxis_0013DB3CC94F7B462B8091C0254EAA57_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis_0013DB3CC94F7B462B8091C0254EAA57" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative Instrument [Axis] </link:label>

<link:label id="lab_us-gaap_DerivativeInstrumentRiskAxis_0013DB3CC94F7B462B8091C0254EAA57_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis_0013DB3CC94F7B462B8091C0254EAA57" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Instrument [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeInstrumentRiskAxis" xlink:label="loc_us-gaap_DerivativeInstrumentRiskAxis_0013DB3CC94F7B462B8091C0254EAA57" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentRiskAxis_0013DB3CC94F7B462B8091C0254EAA57" xlink:to="lab_us-gaap_DerivativeInstrumentRiskAxis_0013DB3CC94F7B462B8091C0254EAA57" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeContractTypeDomain_4EB61FD45D35B36E1EDC91C0254E7225_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeContractTypeDomain_4EB61FD45D35B36E1EDC91C0254E7225" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative Contract [Domain] </link:label>

<link:label id="lab_us-gaap_DerivativeContractTypeDomain_4EB61FD45D35B36E1EDC91C0254E7225_label_en-US" xlink:label="lab_us-gaap_DerivativeContractTypeDomain_4EB61FD45D35B36E1EDC91C0254E7225" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Contract [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeContractTypeDomain" xlink:label="loc_us-gaap_DerivativeContractTypeDomain_4EB61FD45D35B36E1EDC91C0254E7225" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeContractTypeDomain_4EB61FD45D35B36E1EDC91C0254E7225" xlink:to="lab_us-gaap_DerivativeContractTypeDomain_4EB61FD45D35B36E1EDC91C0254E7225" xlink:type="arc"/>

<link:label id="lab_us-gaap_CommodityContractMember_238B496A2A0775B9AAE491C0254E4F2A_terseLabel_en-US" xlink:label="lab_us-gaap_CommodityContractMember_238B496A2A0775B9AAE491C0254E4F2A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commodity Contracts </link:label>

<link:label id="lab_us-gaap_CommodityContractMember_238B496A2A0775B9AAE491C0254E4F2A_label_en-US" xlink:label="lab_us-gaap_CommodityContractMember_238B496A2A0775B9AAE491C0254E4F2A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commodity Contract [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommodityContractMember" xlink:label="loc_us-gaap_CommodityContractMember_238B496A2A0775B9AAE491C0254E4F2A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommodityContractMember_238B496A2A0775B9AAE491C0254E4F2A" xlink:to="lab_us-gaap_CommodityContractMember_238B496A2A0775B9AAE491C0254E4F2A" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativesFairValueLineItems_BD9A0A6D2B50A2EFDBE991C0254E55B8_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativesFairValueLineItems_BD9A0A6D2B50A2EFDBE991C0254E55B8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair value of derivative instruments with credit risk and credit-related contingent features </link:label>

<link:label id="lab_us-gaap_DerivativesFairValueLineItems_BD9A0A6D2B50A2EFDBE991C0254E55B8_label_en-US" xlink:label="lab_us-gaap_DerivativesFairValueLineItems_BD9A0A6D2B50A2EFDBE991C0254E55B8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivatives, Fair Value [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativesFairValueLineItems" xlink:label="loc_us-gaap_DerivativesFairValueLineItems_BD9A0A6D2B50A2EFDBE991C0254E55B8" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeCreditRiskRelatedContingentFeaturesAbstract_D74DDD0336358D96B07491C0254E7307_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeCreditRiskRelatedContingentFeaturesAbstract_D74DDD0336358D96B07491C0254E7307" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Credit Risk and Credit-Related Contingent Features </link:label>

<link:label id="lab_us-gaap_DerivativeCreditRiskRelatedContingentFeaturesAbstract_D74DDD0336358D96B07491C0254E7307_label_en-US" xlink:label="lab_us-gaap_DerivativeCreditRiskRelatedContingentFeaturesAbstract_D74DDD0336358D96B07491C0254E7307" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative, Credit Risk Related Contingent Features [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeCreditRiskRelatedContingentFeaturesAbstract" xlink:label="loc_us-gaap_DerivativeCreditRiskRelatedContingentFeaturesAbstract_D74DDD0336358D96B07491C0254E7307" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeNetLiabilityPositionAggregateFairValue_64CAD6F72EC70CCD4F5491C0254E15FE_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNetLiabilityPositionAggregateFairValue_64CAD6F72EC70CCD4F5491C0254E15FE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Aggregate Fair Value of Derivative Instruments in a Net Liability Position </link:label>

<link:label id="lab_us-gaap_DerivativeNetLiabilityPositionAggregateFairValue_64CAD6F72EC70CCD4F5491C0254E15FE_label_en-US" xlink:label="lab_us-gaap_DerivativeNetLiabilityPositionAggregateFairValue_64CAD6F72EC70CCD4F5491C0254E15FE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative, Net Liability Position, Aggregate Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeNetLiabilityPositionAggregateFairValue" xlink:label="loc_us-gaap_DerivativeNetLiabilityPositionAggregateFairValue_64CAD6F72EC70CCD4F5491C0254E15FE" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue_9B90275A8AC608459D4C91C0254E667F_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue_9B90275A8AC608459D4C91C0254E667F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash Collateral Posted </link:label>

<link:label id="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue_9B90275A8AC608459D4C91C0254E667F_label_en-US" xlink:label="lab_us-gaap_CollateralAlreadyPostedAggregateFairValue_9B90275A8AC608459D4C91C0254E667F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Collateral Already Posted, Aggregate Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:label="loc_us-gaap_CollateralAlreadyPostedAggregateFairValue_9B90275A8AC608459D4C91C0254E667F" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AdditionalCollateralAggregateFairValue_916C52F869F6D190FBF891C0254E8BA4_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalCollateralAggregateFairValue_916C52F869F6D190FBF891C0254E8BA4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additional Cash Collateral in the Event Credit-Risk Related Contingent Features were Fully Triggered </link:label>

<link:label id="lab_us-gaap_AdditionalCollateralAggregateFairValue_916C52F869F6D190FBF891C0254E8BA4_label_en-US" xlink:label="lab_us-gaap_AdditionalCollateralAggregateFairValue_916C52F869F6D190FBF891C0254E8BA4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Additional Collateral, Aggregate Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalCollateralAggregateFairValue" xlink:label="loc_us-gaap_AdditionalCollateralAggregateFairValue_916C52F869F6D190FBF891C0254E8BA4" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherIncomeAndExpensesAbstract_D91846E345C86CD8AF0A91C02779678C_label_en-US" xlink:label="lab_us-gaap_OtherIncomeAndExpensesAbstract_D91846E345C86CD8AF0A91C02779678C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Income and Expenses [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherIncomeAndExpensesAbstract" xlink:label="loc_us-gaap_OtherIncomeAndExpensesAbstract_D91846E345C86CD8AF0A91C02779678C" xlink:type="locator"/>

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<link:label id="lab_pnw_ComponentOfOtherIncomeAndOtherExpenseNonoperatingTable_1E8DB41C2F8F756042F691C02779374F_terseLabel_en-US" xlink:label="lab_pnw_ComponentOfOtherIncomeAndOtherExpenseNonoperatingTable_1E8DB41C2F8F756042F691C02779374F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Component of Other Income and Other Expense Nonoperating [Table] </link:label>

<link:label id="lab_pnw_ComponentOfOtherIncomeAndOtherExpenseNonoperatingTable_1E8DB41C2F8F756042F691C02779374F_label_en-US" xlink:label="lab_pnw_ComponentOfOtherIncomeAndOtherExpenseNonoperatingTable_1E8DB41C2F8F756042F691C02779374F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Component of Other Income and Other Expense Nonoperating [Table] </link:label>

<link:label id="lab_pnw_ComponentOfOtherIncomeAndOtherExpenseNonoperatingTable_1E8DB41C2F8F756042F691C02779374F_documentation_en-US" xlink:label="lab_pnw_ComponentOfOtherIncomeAndOtherExpenseNonoperatingTable_1E8DB41C2F8F756042F691C02779374F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Provides a description and amount of each detailed component of other nonoperating income and expenses. </link:label>

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<link:label id="lab_pnw_ComponentofOtherIncomeandOtherExpenseNonoperatingLineItems_D5E5DE65EF89A94D170C91C027797518_terseLabel_en-US" xlink:label="lab_pnw_ComponentofOtherIncomeandOtherExpenseNonoperatingLineItems_D5E5DE65EF89A94D170C91C027797518" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Component of Other Income and Other Expense Nonoperating [Line Items] </link:label>

<link:label id="lab_pnw_ComponentofOtherIncomeandOtherExpenseNonoperatingLineItems_D5E5DE65EF89A94D170C91C027797518_label_en-US" xlink:label="lab_pnw_ComponentofOtherIncomeandOtherExpenseNonoperatingLineItems_D5E5DE65EF89A94D170C91C027797518" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Component of Other Income and Other Expense Nonoperating [Line Items] </link:label>

<link:label id="lab_pnw_ComponentofOtherIncomeandOtherExpenseNonoperatingLineItems_D5E5DE65EF89A94D170C91C027797518_documentation_en-US" xlink:label="lab_pnw_ComponentofOtherIncomeandOtherExpenseNonoperatingLineItems_D5E5DE65EF89A94D170C91C027797518" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Component of Other Income and Other Expense Nonoperating [Line Items] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ComponentofOtherIncomeandOtherExpenseNonoperatingLineItems" xlink:label="loc_pnw_ComponentofOtherIncomeandOtherExpenseNonoperatingLineItems_D5E5DE65EF89A94D170C91C027797518" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock_892AEFC0194474F7F0EF91C027792E89_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock_892AEFC0194474F7F0EF91C027792E89" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Detail of other income and other expense </link:label>

<link:label id="lab_us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock_892AEFC0194474F7F0EF91C027792E89_label_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock_892AEFC0194474F7F0EF91C027792E89" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Other Nonoperating Income (Expense) [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock_892AEFC0194474F7F0EF91C027792E89" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AssetRetirementObligationDisclosureAbstract_B7173B898CA8B36E736091C02785AED7_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationDisclosureAbstract_B7173B898CA8B36E736091C02785AED7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation Disclosure [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetRetirementObligationDisclosureAbstract" xlink:label="loc_us-gaap_AssetRetirementObligationDisclosureAbstract_B7173B898CA8B36E736091C02785AED7" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AssetRetirementObligationDisclosureTextBlock_000E9BDE78E064AAE3D691C0278627C9_terseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationDisclosureTextBlock_000E9BDE78E064AAE3D691C0278627C9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligations </link:label>

<link:label id="lab_us-gaap_AssetRetirementObligationDisclosureTextBlock_000E9BDE78E064AAE3D691C0278627C9_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationDisclosureTextBlock_000E9BDE78E064AAE3D691C0278627C9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation Disclosure [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetRetirementObligationDisclosureTextBlock" xlink:label="loc_us-gaap_AssetRetirementObligationDisclosureTextBlock_000E9BDE78E064AAE3D691C0278627C9" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock_D284B00BC1062A7238AB91C02560FB86_terseLabel_en-US" xlink:label="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock_D284B00BC1062A7238AB91C02560FB86" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other Income and Other Expense </link:label>

<link:label id="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock_D284B00BC1062A7238AB91C02560FB86_label_en-US" xlink:label="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock_D284B00BC1062A7238AB91C02560FB86" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Income and Other Expense Disclosure [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" xlink:label="loc_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock_D284B00BC1062A7238AB91C02560FB86" xlink:type="locator"/>

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<link:label id="lab_pnw_OffsettingAssetsAndLiabilitiesTable_64DBEEE3CF32F158DF7F91C025CF6049_terseLabel_en-US" xlink:label="lab_pnw_OffsettingAssetsAndLiabilitiesTable_64DBEEE3CF32F158DF7F91C025CF6049" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Offsetting Assets and Liabilities [Table] </link:label>

<link:label id="lab_pnw_OffsettingAssetsAndLiabilitiesTable_64DBEEE3CF32F158DF7F91C025CF6049_label_en-US" xlink:label="lab_pnw_OffsettingAssetsAndLiabilitiesTable_64DBEEE3CF32F158DF7F91C025CF6049" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Offsetting Assets and Liabilities [Table] </link:label>

<link:label id="lab_pnw_OffsettingAssetsAndLiabilitiesTable_64DBEEE3CF32F158DF7F91C025CF6049_documentation_en-US" xlink:label="lab_pnw_OffsettingAssetsAndLiabilitiesTable_64DBEEE3CF32F158DF7F91C025CF6049" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Disclosure of information about derivatives, financial assets and liabilities that are subject to offsetting, including enforceable master netting arrangements. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_OffsettingAssetsAndLiabilitiesTable" xlink:label="loc_pnw_OffsettingAssetsAndLiabilitiesTable_64DBEEE3CF32F158DF7F91C025CF6049" xlink:type="locator"/>

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<link:label id="lab_us-gaap_HedgingDesignationAxis_B0345952561864C99B2091C025CFEA96_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingDesignationAxis_B0345952561864C99B2091C025CFEA96" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Hedging Designation [Axis] </link:label>

<link:label id="lab_us-gaap_HedgingDesignationAxis_B0345952561864C99B2091C025CFEA96_label_en-US" xlink:label="lab_us-gaap_HedgingDesignationAxis_B0345952561864C99B2091C025CFEA96" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Hedging Designation [Axis] </link:label>

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<link:label id="lab_us-gaap_HedgingDesignationDomain_DF4CE792D51DDC59EDD491C025CF4871_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingDesignationDomain_DF4CE792D51DDC59EDD491C025CF4871" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Hedging Designation [Domain] </link:label>

<link:label id="lab_us-gaap_HedgingDesignationDomain_DF4CE792D51DDC59EDD491C025CF4871_label_en-US" xlink:label="lab_us-gaap_HedgingDesignationDomain_DF4CE792D51DDC59EDD491C025CF4871" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Hedging Designation [Domain] </link:label>

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<link:label id="lab_us-gaap_DesignatedAsHedgingInstrumentMember_26A9D0D299158BEEAC7B91C025CF3CD4_terseLabel_en-US" xlink:label="lab_us-gaap_DesignatedAsHedgingInstrumentMember_26A9D0D299158BEEAC7B91C025CF3CD4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Designated as Hedging Instruments </link:label>

<link:label id="lab_us-gaap_DesignatedAsHedgingInstrumentMember_26A9D0D299158BEEAC7B91C025CF3CD4_label_en-US" xlink:label="lab_us-gaap_DesignatedAsHedgingInstrumentMember_26A9D0D299158BEEAC7B91C025CF3CD4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Designated as Hedging Instrument [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DesignatedAsHedgingInstrumentMember" xlink:label="loc_us-gaap_DesignatedAsHedgingInstrumentMember_26A9D0D299158BEEAC7B91C025CF3CD4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DesignatedAsHedgingInstrumentMember_26A9D0D299158BEEAC7B91C025CF3CD4" xlink:to="lab_us-gaap_DesignatedAsHedgingInstrumentMember_26A9D0D299158BEEAC7B91C025CF3CD4" xlink:type="arc"/>

<link:label id="lab_us-gaap_NondesignatedMember_D953BD13C3BB802F79A991C025CF03F5_terseLabel_en-US" xlink:label="lab_us-gaap_NondesignatedMember_D953BD13C3BB802F79A991C025CF03F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Not Designated as Hedging Instruments </link:label>

<link:label id="lab_us-gaap_NondesignatedMember_D953BD13C3BB802F79A991C025CF03F5_label_en-US" xlink:label="lab_us-gaap_NondesignatedMember_D953BD13C3BB802F79A991C025CF03F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Not Designated as Hedging Instrument [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NondesignatedMember" xlink:label="loc_us-gaap_NondesignatedMember_D953BD13C3BB802F79A991C025CF03F5" xlink:type="locator"/>

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<link:label id="lab_us-gaap_BalanceSheetLocationAxis_B4C7F206E8AE5B612D4591C025CF95A7_terseLabel_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationAxis_B4C7F206E8AE5B612D4591C025CF95A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Balance Sheet Location [Axis] </link:label>

<link:label id="lab_us-gaap_BalanceSheetLocationAxis_B4C7F206E8AE5B612D4591C025CF95A7_label_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationAxis_B4C7F206E8AE5B612D4591C025CF95A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Balance Sheet Location [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BalanceSheetLocationAxis" xlink:label="loc_us-gaap_BalanceSheetLocationAxis_B4C7F206E8AE5B612D4591C025CF95A7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BalanceSheetLocationAxis_B4C7F206E8AE5B612D4591C025CF95A7" xlink:to="lab_us-gaap_BalanceSheetLocationAxis_B4C7F206E8AE5B612D4591C025CF95A7" xlink:type="arc"/>

<link:label id="lab_us-gaap_BalanceSheetLocationDomain_4544177BC9BC37C22E6B91C025CF638C_terseLabel_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationDomain_4544177BC9BC37C22E6B91C025CF638C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Balance Sheet Location [Domain] </link:label>

<link:label id="lab_us-gaap_BalanceSheetLocationDomain_4544177BC9BC37C22E6B91C025CF638C_label_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationDomain_4544177BC9BC37C22E6B91C025CF638C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Balance Sheet Location [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BalanceSheetLocationDomain" xlink:label="loc_us-gaap_BalanceSheetLocationDomain_4544177BC9BC37C22E6B91C025CF638C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BalanceSheetLocationDomain_4544177BC9BC37C22E6B91C025CF638C" xlink:to="lab_us-gaap_BalanceSheetLocationDomain_4544177BC9BC37C22E6B91C025CF638C" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherAssetsMember_32668A78BD870DBCF38B91C025CFF20F_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssetsMember_32668A78BD870DBCF38B91C025CFF20F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Current Assets </link:label>

<link:label id="lab_us-gaap_OtherAssetsMember_32668A78BD870DBCF38B91C025CFF20F_label_en-US" xlink:label="lab_us-gaap_OtherAssetsMember_32668A78BD870DBCF38B91C025CFF20F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Assets [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsMember" xlink:label="loc_us-gaap_OtherAssetsMember_32668A78BD870DBCF38B91C025CFF20F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssetsMember_32668A78BD870DBCF38B91C025CFF20F" xlink:to="lab_us-gaap_OtherAssetsMember_32668A78BD870DBCF38B91C025CFF20F" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherInvestmentsMember_75C9CCB7E5DD173B8ECF91C025CF002C_terseLabel_en-US" xlink:label="lab_us-gaap_OtherInvestmentsMember_75C9CCB7E5DD173B8ECF91C025CF002C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investments and Other Assets </link:label>

<link:label id="lab_us-gaap_OtherInvestmentsMember_75C9CCB7E5DD173B8ECF91C025CF002C_label_en-US" xlink:label="lab_us-gaap_OtherInvestmentsMember_75C9CCB7E5DD173B8ECF91C025CF002C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Investments [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherInvestmentsMember" xlink:label="loc_us-gaap_OtherInvestmentsMember_75C9CCB7E5DD173B8ECF91C025CF002C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherInvestmentsMember_75C9CCB7E5DD173B8ECF91C025CF002C" xlink:to="lab_us-gaap_OtherInvestmentsMember_75C9CCB7E5DD173B8ECF91C025CF002C" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherLiabilitiesMember_5BBCFB54C2AC555CB70491C025CF3156_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesMember_5BBCFB54C2AC555CB70491C025CF3156" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Current Liabilities </link:label>

<link:label id="lab_us-gaap_OtherLiabilitiesMember_5BBCFB54C2AC555CB70491C025CF3156_label_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesMember_5BBCFB54C2AC555CB70491C025CF3156" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Liabilities [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherLiabilitiesMember" xlink:label="loc_us-gaap_OtherLiabilitiesMember_5BBCFB54C2AC555CB70491C025CF3156" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilitiesMember_5BBCFB54C2AC555CB70491C025CF3156" xlink:to="lab_us-gaap_OtherLiabilitiesMember_5BBCFB54C2AC555CB70491C025CF3156" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredCreditsMember_66FB924928D780FB2ADC91C025CF84AB_terseLabel_en-US" xlink:label="lab_pnw_DeferredCreditsMember_66FB924928D780FB2ADC91C025CF84AB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred Credits and Other </link:label>

<link:label id="lab_pnw_DeferredCreditsMember_66FB924928D780FB2ADC91C025CF84AB_label_en-US" xlink:label="lab_pnw_DeferredCreditsMember_66FB924928D780FB2ADC91C025CF84AB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Credits [Member] </link:label>

<link:label id="lab_pnw_DeferredCreditsMember_66FB924928D780FB2ADC91C025CF84AB_documentation_en-US" xlink:label="lab_pnw_DeferredCreditsMember_66FB924928D780FB2ADC91C025CF84AB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Line item in the statement of financial position in which the fair value amounts of the derivative instruments are included. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredCreditsMember" xlink:label="loc_pnw_DeferredCreditsMember_66FB924928D780FB2ADC91C025CF84AB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredCreditsMember_66FB924928D780FB2ADC91C025CF84AB" xlink:to="lab_pnw_DeferredCreditsMember_66FB924928D780FB2ADC91C025CF84AB" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeStatementLocationAxis_809B35B2E90119BDF12791C025CF4DE3_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis_809B35B2E90119BDF12791C025CF4DE3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income Statement Location [Axis] </link:label>

<link:label id="lab_us-gaap_IncomeStatementLocationAxis_809B35B2E90119BDF12791C025CF4DE3_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis_809B35B2E90119BDF12791C025CF4DE3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Statement Location [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="loc_us-gaap_IncomeStatementLocationAxis_809B35B2E90119BDF12791C025CF4DE3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationAxis_809B35B2E90119BDF12791C025CF4DE3" xlink:to="lab_us-gaap_IncomeStatementLocationAxis_809B35B2E90119BDF12791C025CF4DE3" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeStatementLocationDomain_E8A18964D91EAC94695E91C025CF3F9E_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain_E8A18964D91EAC94695E91C025CF3F9E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income Statement Location [Domain] </link:label>

<link:label id="lab_us-gaap_IncomeStatementLocationDomain_E8A18964D91EAC94695E91C025CF3F9E_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain_E8A18964D91EAC94695E91C025CF3F9E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Statement Location [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_us-gaap_IncomeStatementLocationDomain_E8A18964D91EAC94695E91C025CF3F9E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationDomain_E8A18964D91EAC94695E91C025CF3F9E" xlink:to="lab_us-gaap_IncomeStatementLocationDomain_E8A18964D91EAC94695E91C025CF3F9E" xlink:type="arc"/>

<link:label id="lab_us-gaap_SalesMember_9BD04D1B36BEFB6D475691C025CF812C_terseLabel_en-US" xlink:label="lab_us-gaap_SalesMember_9BD04D1B36BEFB6D475691C025CF812C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Revenue </link:label>

<link:label id="lab_us-gaap_SalesMember_9BD04D1B36BEFB6D475691C025CF812C_label_en-US" xlink:label="lab_us-gaap_SalesMember_9BD04D1B36BEFB6D475691C025CF812C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sales [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SalesMember" xlink:label="loc_us-gaap_SalesMember_9BD04D1B36BEFB6D475691C025CF812C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SalesMember_9BD04D1B36BEFB6D475691C025CF812C" xlink:to="lab_us-gaap_SalesMember_9BD04D1B36BEFB6D475691C025CF812C" xlink:type="arc"/>

<link:label id="lab_us-gaap_CostOfSalesMember_2F1A42E340F602EC5B9B91C025D073AA_terseLabel_en-US" xlink:label="lab_us-gaap_CostOfSalesMember_2F1A42E340F602EC5B9B91C025D073AA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fuel and purchased power </link:label>

<link:label id="lab_us-gaap_CostOfSalesMember_2F1A42E340F602EC5B9B91C025D073AA_label_en-US" xlink:label="lab_us-gaap_CostOfSalesMember_2F1A42E340F602EC5B9B91C025D073AA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cost of Sales [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostOfSalesMember" xlink:label="loc_us-gaap_CostOfSalesMember_2F1A42E340F602EC5B9B91C025D073AA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CostOfSalesMember_2F1A42E340F602EC5B9B91C025D073AA" xlink:to="lab_us-gaap_CostOfSalesMember_2F1A42E340F602EC5B9B91C025D073AA" xlink:type="arc"/>

<link:label id="lab_pnw_OffsettingAssetsAndLiabilitiesLineItems_08DD5A694125DFC7D16E91C025D0F2D0_terseLabel_en-US" xlink:label="lab_pnw_OffsettingAssetsAndLiabilitiesLineItems_08DD5A694125DFC7D16E91C025D0F2D0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair value of risk management activities reported on gross basis and the impacts of offsetting </link:label>

<link:label id="lab_pnw_OffsettingAssetsAndLiabilitiesLineItems_08DD5A694125DFC7D16E91C025D0F2D0_label_en-US" xlink:label="lab_pnw_OffsettingAssetsAndLiabilitiesLineItems_08DD5A694125DFC7D16E91C025D0F2D0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Offsetting Assets and Liabilities [Line Items] </link:label>

<link:label id="lab_pnw_OffsettingAssetsAndLiabilitiesLineItems_08DD5A694125DFC7D16E91C025D0F2D0_documentation_en-US" xlink:label="lab_pnw_OffsettingAssetsAndLiabilitiesLineItems_08DD5A694125DFC7D16E91C025D0F2D0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_OffsettingAssetsAndLiabilitiesLineItems" xlink:label="loc_pnw_OffsettingAssetsAndLiabilitiesLineItems_08DD5A694125DFC7D16E91C025D0F2D0" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OffsettingDerivativeAssetsAbstract_5F56C7A87B274A44339091C025D00882_terseLabel_en-US" xlink:label="lab_us-gaap_OffsettingDerivativeAssetsAbstract_5F56C7A87B274A44339091C025D00882" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Assets </link:label>

<link:label id="lab_us-gaap_OffsettingDerivativeAssetsAbstract_5F56C7A87B274A44339091C025D00882_label_en-US" xlink:label="lab_us-gaap_OffsettingDerivativeAssetsAbstract_5F56C7A87B274A44339091C025D00882" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Offsetting Derivative Assets [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OffsettingDerivativeAssetsAbstract" xlink:label="loc_us-gaap_OffsettingDerivativeAssetsAbstract_5F56C7A87B274A44339091C025D00882" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_27C49A46783B3610952991C025D057D7_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_27C49A46783B3610952991C025D057D7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Gross Recognized Derivatives </link:label>

<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_27C49A46783B3610952991C025D057D7_label_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_27C49A46783B3610952991C025D057D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset, Fair Value, Gross Asset </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeAsset" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeAsset_27C49A46783B3610952991C025D057D7" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset_4A413F284C42A66E3D1391C025D0CE43_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset_4A413F284C42A66E3D1391C025D0CE43" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Amounts Offset </link:label>

<link:label id="lab_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset_4A413F284C42A66E3D1391C025D0CE43_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset_4A413F284C42A66E3D1391C025D0CE43" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset" xlink:label="loc_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset_4A413F284C42A66E3D1391C025D0CE43" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset_4A413F284C42A66E3D1391C025D0CE43" xlink:to="lab_us-gaap_DerivativeAssetFairValueGrossLiabilityAndObligationToReturnCashOffset_4A413F284C42A66E3D1391C025D0CE43" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_E08C162F840B5922785291C025D0F458_totalLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_E08C162F840B5922785291C025D0F458" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net Recognized Derivatives </link:label>

<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_E08C162F840B5922785291C025D0F458_label_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_E08C162F840B5922785291C025D0F458" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset, Fair Value, Amount Not Offset Against Collateral </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_E08C162F840B5922785291C025D0F458" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_E08C162F840B5922785291C025D0F458" xlink:to="lab_us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_E08C162F840B5922785291C025D0F458" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement_353AE7CB0633AC92AFAC91C025D0147D_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement_353AE7CB0633AC92AFAC91C025D0147D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement_353AE7CB0633AC92AFAC91C025D0147D_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement_353AE7CB0633AC92AFAC91C025D0147D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset, Not Subject to Master Netting Arrangement </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement" xlink:label="loc_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement_353AE7CB0633AC92AFAC91C025D0147D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement_353AE7CB0633AC92AFAC91C025D0147D" xlink:to="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangement_353AE7CB0633AC92AFAC91C025D0147D" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeAssets_E8D7E493E0CC6071389E91C025D0D0E0_totalLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssets_E8D7E493E0CC6071389E91C025D0D0E0" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Amount Reported on Balance Sheet </link:label>

<link:label id="lab_us-gaap_DerivativeAssets_E8D7E493E0CC6071389E91C025D0D0E0_label_en-US" xlink:label="lab_us-gaap_DerivativeAssets_E8D7E493E0CC6071389E91C025D0D0E0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="loc_us-gaap_DerivativeAssets_E8D7E493E0CC6071389E91C025D0D0E0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssets_E8D7E493E0CC6071389E91C025D0D0E0" xlink:to="lab_us-gaap_DerivativeAssets_E8D7E493E0CC6071389E91C025D0D0E0" xlink:type="arc"/>

<link:label id="lab_us-gaap_OffsettingDerivativeLiabilitiesAbstract_D079394ACF6909FAE26191C025D06880_terseLabel_en-US" xlink:label="lab_us-gaap_OffsettingDerivativeLiabilitiesAbstract_D079394ACF6909FAE26191C025D06880" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities </link:label>

<link:label id="lab_us-gaap_OffsettingDerivativeLiabilitiesAbstract_D079394ACF6909FAE26191C025D06880_label_en-US" xlink:label="lab_us-gaap_OffsettingDerivativeLiabilitiesAbstract_D079394ACF6909FAE26191C025D06880" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Offsetting Derivative Liabilities [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OffsettingDerivativeLiabilitiesAbstract" xlink:label="loc_us-gaap_OffsettingDerivativeLiabilitiesAbstract_D079394ACF6909FAE26191C025D06880" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OffsettingDerivativeLiabilitiesAbstract_D079394ACF6909FAE26191C025D06880" xlink:to="lab_us-gaap_OffsettingDerivativeLiabilitiesAbstract_D079394ACF6909FAE26191C025D06880" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_E8B0D3315A5BF44A4FCB91C025D066D1_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_E8B0D3315A5BF44A4FCB91C025D066D1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Gross Recognized Derivatives </link:label>

<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_E8B0D3315A5BF44A4FCB91C025D066D1_label_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_E8B0D3315A5BF44A4FCB91C025D066D1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Liability, Fair Value, Gross Liability </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeLiability" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeLiability_E8B0D3315A5BF44A4FCB91C025D066D1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeLiability_E8B0D3315A5BF44A4FCB91C025D066D1" xlink:to="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_E8B0D3315A5BF44A4FCB91C025D066D1" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset_576B8F2EA1DBC54CECD791C025D0E85B_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset_576B8F2EA1DBC54CECD791C025D0E85B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amounts Offset </link:label>

<link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset_576B8F2EA1DBC54CECD791C025D0E85B_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset_576B8F2EA1DBC54CECD791C025D0E85B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset" xlink:label="loc_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset_576B8F2EA1DBC54CECD791C025D0E85B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset_576B8F2EA1DBC54CECD791C025D0E85B" xlink:to="lab_us-gaap_DerivativeLiabilityFairValueGrossAssetAndRightToReclaimCashOffset_576B8F2EA1DBC54CECD791C025D0E85B" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_0748F98F418B7A61C60D91C025D0BF02_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_0748F98F418B7A61C60D91C025D0BF02" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US"> Net Recognized Derivatives </link:label>

<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_0748F98F418B7A61C60D91C025D0BF02_label_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_0748F98F418B7A61C60D91C025D0BF02" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Liability, Fair Value, Amount Not Offset Against Collateral </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_0748F98F418B7A61C60D91C025D0BF02" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_0748F98F418B7A61C60D91C025D0BF02" xlink:to="lab_us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_0748F98F418B7A61C60D91C025D0BF02" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement_BCBA66FA25D9941D085991C025D0AEEE_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement_BCBA66FA25D9941D085991C025D0AEEE" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement_BCBA66FA25D9941D085991C025D0AEEE_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement_BCBA66FA25D9941D085991C025D0AEEE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Liability, Not Subject to Master Netting Arrangement </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement" xlink:label="loc_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement_BCBA66FA25D9941D085991C025D0AEEE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement_BCBA66FA25D9941D085991C025D0AEEE" xlink:to="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangement_BCBA66FA25D9941D085991C025D0AEEE" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeLiabilities_7F55DC34390FE6B08E8D91C025D0644D_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities_7F55DC34390FE6B08E8D91C025D0644D" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US"> Amount Reported on Balance Sheet </link:label>

<link:label id="lab_us-gaap_DerivativeLiabilities_7F55DC34390FE6B08E8D91C025D0644D_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities_7F55DC34390FE6B08E8D91C025D0644D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Liability </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="loc_us-gaap_DerivativeLiabilities_7F55DC34390FE6B08E8D91C025D0644D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilities_7F55DC34390FE6B08E8D91C025D0644D" xlink:to="lab_us-gaap_DerivativeLiabilities_7F55DC34390FE6B08E8D91C025D0644D" xlink:type="arc"/>

<link:label id="lab_pnw_OffsettingDerivativeAssetsLiabilitiesNetAbstract_85B9613C6ADB9B0735D491C025D08C8F_terseLabel_en-US" xlink:label="lab_pnw_OffsettingDerivativeAssetsLiabilitiesNetAbstract_85B9613C6ADB9B0735D491C025D08C8F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Assets and Liabilities </link:label>

<link:label id="lab_pnw_OffsettingDerivativeAssetsLiabilitiesNetAbstract_85B9613C6ADB9B0735D491C025D08C8F_label_en-US" xlink:label="lab_pnw_OffsettingDerivativeAssetsLiabilitiesNetAbstract_85B9613C6ADB9B0735D491C025D08C8F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Offsetting Derivative Assets Liabilities, Net [Abstract] </link:label>

<link:label id="lab_pnw_OffsettingDerivativeAssetsLiabilitiesNetAbstract_85B9613C6ADB9B0735D491C025D08C8F_documentation_en-US" xlink:label="lab_pnw_OffsettingDerivativeAssetsLiabilitiesNetAbstract_85B9613C6ADB9B0735D491C025D08C8F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_OffsettingDerivativeAssetsLiabilitiesNetAbstract" xlink:label="loc_pnw_OffsettingDerivativeAssetsLiabilitiesNetAbstract_85B9613C6ADB9B0735D491C025D08C8F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_OffsettingDerivativeAssetsLiabilitiesNetAbstract_85B9613C6ADB9B0735D491C025D08C8F" xlink:to="lab_pnw_OffsettingDerivativeAssetsLiabilitiesNetAbstract_85B9613C6ADB9B0735D491C025D08C8F" xlink:type="arc"/>

<link:label id="lab_pnw_DerivativeAssetLiabilityFairValueGrossAssetLiability_F5308AE34C1717EAD3FB91C025D079C4_terseLabel_en-US" xlink:label="lab_pnw_DerivativeAssetLiabilityFairValueGrossAssetLiability_F5308AE34C1717EAD3FB91C025D079C4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Gross Recognized Derivatives </link:label>

<link:label id="lab_pnw_DerivativeAssetLiabilityFairValueGrossAssetLiability_F5308AE34C1717EAD3FB91C025D079C4_label_en-US" xlink:label="lab_pnw_DerivativeAssetLiabilityFairValueGrossAssetLiability_F5308AE34C1717EAD3FB91C025D079C4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset (Liability), Fair Value, Gross Asset (Liability) </link:label>

<link:label id="lab_pnw_DerivativeAssetLiabilityFairValueGrossAssetLiability_F5308AE34C1717EAD3FB91C025D079C4_documentation_en-US" xlink:label="lab_pnw_DerivativeAssetLiabilityFairValueGrossAssetLiability_F5308AE34C1717EAD3FB91C025D079C4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the fair value of derivative asset, net of liability, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DerivativeAssetLiabilityFairValueGrossAssetLiability" xlink:label="loc_pnw_DerivativeAssetLiabilityFairValueGrossAssetLiability_F5308AE34C1717EAD3FB91C025D079C4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DerivativeAssetLiabilityFairValueGrossAssetLiability_F5308AE34C1717EAD3FB91C025D079C4" xlink:to="lab_pnw_DerivativeAssetLiabilityFairValueGrossAssetLiability_F5308AE34C1717EAD3FB91C025D079C4" xlink:type="arc"/>

<link:label id="lab_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_46C4728FEF650B90114091C025D04B82_negatedTotalLabel_en-US" xlink:label="lab_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_46C4728FEF650B90114091C025D04B82" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US"> Amounts Offset </link:label>

<link:label id="lab_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_46C4728FEF650B90114091C025D04B82_label_en-US" xlink:label="lab_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_46C4728FEF650B90114091C025D04B82" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset (Liability), Fair Value, Gross Liability (Asset) and Obligation to Return and Right to Reclaim Cash, Offset </link:label>

<link:label id="lab_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_46C4728FEF650B90114091C025D04B82_documentation_en-US" xlink:label="lab_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_46C4728FEF650B90114091C025D04B82" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Derivative Asset (Liability), Fair Value, Gross Liability (Asset) and Obligation to Return and Right to Reclaim Cash, Offset </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset" xlink:label="loc_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_46C4728FEF650B90114091C025D04B82" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_46C4728FEF650B90114091C025D04B82" xlink:to="lab_pnw_DerivativeAssetLiabilityFairValueGrossLiabilityAssetandObligationtoReturnandRighttoReclaimCashOffset_46C4728FEF650B90114091C025D04B82" xlink:type="arc"/>

<link:label id="lab_pnw_DerivativeAssetLiabilityFairValueAmountNotOffsetAgainstCollateral_324EBB64E748652A483491C025D02F9B_totalLabel_en-US" xlink:label="lab_pnw_DerivativeAssetLiabilityFairValueAmountNotOffsetAgainstCollateral_324EBB64E748652A483491C025D02F9B" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net Recognized Derivatives </link:label>

<link:label id="lab_pnw_DerivativeAssetLiabilityFairValueAmountNotOffsetAgainstCollateral_324EBB64E748652A483491C025D02F9B_label_en-US" xlink:label="lab_pnw_DerivativeAssetLiabilityFairValueAmountNotOffsetAgainstCollateral_324EBB64E748652A483491C025D02F9B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset (Liability), Fair Value, Amount Not Offset Against Collateral </link:label>

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<link:label id="lab_us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis_9F873845E425A39B9E69C67161417B89_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis_9F873845E425A39B9E69C67161417B89" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Asset Categories [Axis] </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis_9F873845E425A39B9E69C67161417B89_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis_9F873845E425A39B9E69C67161417B89" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Asset Categories [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis" xlink:label="loc_us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis_9F873845E425A39B9E69C67161417B89" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis_9F873845E425A39B9E69C67161417B89" xlink:to="lab_us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis_9F873845E425A39B9E69C67161417B89" xlink:type="arc"/>

<link:label id="lab_us-gaap_PlanAssetCategoriesDomain_665E5D613A84CC7D78ABC6716141BC49_terseLabel_en-US" xlink:label="lab_us-gaap_PlanAssetCategoriesDomain_665E5D613A84CC7D78ABC6716141BC49" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Plan Asset Categories [Domain] </link:label>

<link:label id="lab_us-gaap_PlanAssetCategoriesDomain_665E5D613A84CC7D78ABC6716141BC49_label_en-US" xlink:label="lab_us-gaap_PlanAssetCategoriesDomain_665E5D613A84CC7D78ABC6716141BC49" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Plan Asset Categories [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PlanAssetCategoriesDomain" xlink:label="loc_us-gaap_PlanAssetCategoriesDomain_665E5D613A84CC7D78ABC6716141BC49" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PlanAssetCategoriesDomain_665E5D613A84CC7D78ABC6716141BC49" xlink:to="lab_us-gaap_PlanAssetCategoriesDomain_665E5D613A84CC7D78ABC6716141BC49" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashAndCashEquivalentsMember_6754E48369D70884E726C67161415940_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsMember_6754E48369D70884E726C67161415940" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash and cash equivalents </link:label>

<link:label id="lab_us-gaap_CashAndCashEquivalentsMember_6754E48369D70884E726C67161415940_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsMember_6754E48369D70884E726C67161415940" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash and Cash Equivalents [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsMember" xlink:label="loc_us-gaap_CashAndCashEquivalentsMember_6754E48369D70884E726C67161415940" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsMember_6754E48369D70884E726C67161415940" xlink:to="lab_us-gaap_CashAndCashEquivalentsMember_6754E48369D70884E726C67161415940" xlink:type="arc"/>

<link:label id="lab_us-gaap_CorporateDebtSecuritiesMember_A19BED5D8BDEB2509A55C6716141801F_terseLabel_en-US" xlink:label="lab_us-gaap_CorporateDebtSecuritiesMember_A19BED5D8BDEB2509A55C6716141801F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Corporate </link:label>

<link:label id="lab_us-gaap_CorporateDebtSecuritiesMember_A19BED5D8BDEB2509A55C6716141801F_label_en-US" xlink:label="lab_us-gaap_CorporateDebtSecuritiesMember_A19BED5D8BDEB2509A55C6716141801F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Corporate Debt Securities [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CorporateDebtSecuritiesMember" xlink:label="loc_us-gaap_CorporateDebtSecuritiesMember_A19BED5D8BDEB2509A55C6716141801F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CorporateDebtSecuritiesMember_A19BED5D8BDEB2509A55C6716141801F" xlink:to="lab_us-gaap_CorporateDebtSecuritiesMember_A19BED5D8BDEB2509A55C6716141801F" xlink:type="arc"/>

<link:label id="lab_us-gaap_USTreasurySecuritiesMember_668754DFF20BB1812C39C671614134E0_terseLabel_en-US" xlink:label="lab_us-gaap_USTreasurySecuritiesMember_668754DFF20BB1812C39C671614134E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> U.S. Treasury </link:label>

<link:label id="lab_us-gaap_USTreasurySecuritiesMember_668754DFF20BB1812C39C671614134E0_label_en-US" xlink:label="lab_us-gaap_USTreasurySecuritiesMember_668754DFF20BB1812C39C671614134E0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> US Treasury Securities [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_USTreasurySecuritiesMember" xlink:label="loc_us-gaap_USTreasurySecuritiesMember_668754DFF20BB1812C39C671614134E0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_USTreasurySecuritiesMember_668754DFF20BB1812C39C671614134E0" xlink:to="lab_us-gaap_USTreasurySecuritiesMember_668754DFF20BB1812C39C671614134E0" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherDebtSecuritiesMember_34269C7EA8169491DBA0C6716141BA95_terseLabel_en-US" xlink:label="lab_us-gaap_OtherDebtSecuritiesMember_34269C7EA8169491DBA0C6716141BA95" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other (a) </link:label>

<link:label id="lab_us-gaap_OtherDebtSecuritiesMember_34269C7EA8169491DBA0C6716141BA95_label_en-US" xlink:label="lab_us-gaap_OtherDebtSecuritiesMember_34269C7EA8169491DBA0C6716141BA95" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Debt Obligations [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherDebtSecuritiesMember" xlink:label="loc_us-gaap_OtherDebtSecuritiesMember_34269C7EA8169491DBA0C6716141BA95" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherDebtSecuritiesMember_34269C7EA8169491DBA0C6716141BA95" xlink:to="lab_us-gaap_OtherDebtSecuritiesMember_34269C7EA8169491DBA0C6716141BA95" xlink:type="arc"/>

<link:label id="lab_pnw_EquitySecuritiesUSCompaniesMember_67F706A6FC88DAB3D3EDC67161414E32_terseLabel_en-US" xlink:label="lab_pnw_EquitySecuritiesUSCompaniesMember_67F706A6FC88DAB3D3EDC67161414E32" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> U.S. companies </link:label>

<link:label id="lab_pnw_EquitySecuritiesUSCompaniesMember_67F706A6FC88DAB3D3EDC67161414E32_label_en-US" xlink:label="lab_pnw_EquitySecuritiesUSCompaniesMember_67F706A6FC88DAB3D3EDC67161414E32" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Equity Securities US Companies [Member] </link:label>

<link:label id="lab_pnw_EquitySecuritiesUSCompaniesMember_67F706A6FC88DAB3D3EDC67161414E32_documentation_en-US" xlink:label="lab_pnw_EquitySecuritiesUSCompaniesMember_67F706A6FC88DAB3D3EDC67161414E32" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This category includes information about ownership interests or the right to acquire ownership interests in U.S. companies which ownership interest is represented by shares of common or preferred stock (which is neither mandatorily redeemable no redeemable at the option of the holder), convertible securities, stock rights, or stock warrants. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_EquitySecuritiesUSCompaniesMember" xlink:label="loc_pnw_EquitySecuritiesUSCompaniesMember_67F706A6FC88DAB3D3EDC67161414E32" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_EquitySecuritiesUSCompaniesMember_67F706A6FC88DAB3D3EDC67161414E32" xlink:to="lab_pnw_EquitySecuritiesUSCompaniesMember_67F706A6FC88DAB3D3EDC67161414E32" xlink:type="arc"/>

<link:label id="lab_pnw_EquitySecuritiesInternationalCompaniesMember_B9F0DE5F7FD9B2C4C86DC671614180DE_terseLabel_en-US" xlink:label="lab_pnw_EquitySecuritiesInternationalCompaniesMember_B9F0DE5F7FD9B2C4C86DC671614180DE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> International companies </link:label>

<link:label id="lab_pnw_EquitySecuritiesInternationalCompaniesMember_B9F0DE5F7FD9B2C4C86DC671614180DE_label_en-US" xlink:label="lab_pnw_EquitySecuritiesInternationalCompaniesMember_B9F0DE5F7FD9B2C4C86DC671614180DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Equity Securities International Companies [Member] </link:label>

<link:label id="lab_pnw_EquitySecuritiesInternationalCompaniesMember_B9F0DE5F7FD9B2C4C86DC671614180DE_documentation_en-US" xlink:label="lab_pnw_EquitySecuritiesInternationalCompaniesMember_B9F0DE5F7FD9B2C4C86DC671614180DE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This category includes information about ownership interests or the right to acquire ownership interests in international companies which ownership interest is represented by shares of common or preferred stock (which is neither mandatorily redeemable no redeemable at the option of the holder), convertible securities, stock rights, or stock warrants. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_EquitySecuritiesInternationalCompaniesMember" xlink:label="loc_pnw_EquitySecuritiesInternationalCompaniesMember_B9F0DE5F7FD9B2C4C86DC671614180DE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_EquitySecuritiesInternationalCompaniesMember_B9F0DE5F7FD9B2C4C86DC671614180DE" xlink:to="lab_pnw_EquitySecuritiesInternationalCompaniesMember_B9F0DE5F7FD9B2C4C86DC671614180DE" xlink:type="arc"/>

<link:label id="lab_pnw_USEquitySecuritiesMember_50FD5FCF52700C45DCB4C6716142B223_terseLabel_en-US" xlink:label="lab_pnw_USEquitySecuritiesMember_50FD5FCF52700C45DCB4C6716142B223" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> U.S. equities </link:label>

<link:label id="lab_pnw_USEquitySecuritiesMember_50FD5FCF52700C45DCB4C6716142B223_label_en-US" xlink:label="lab_pnw_USEquitySecuritiesMember_50FD5FCF52700C45DCB4C6716142B223" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> US Equity Securities [Member] </link:label>

<link:label id="lab_pnw_USEquitySecuritiesMember_50FD5FCF52700C45DCB4C6716142B223_documentation_en-US" xlink:label="lab_pnw_USEquitySecuritiesMember_50FD5FCF52700C45DCB4C6716142B223" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Investments made in common and collective trusts that primarily invest in U.S. equities. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_USEquitySecuritiesMember" xlink:label="loc_pnw_USEquitySecuritiesMember_50FD5FCF52700C45DCB4C6716142B223" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_USEquitySecuritiesMember_50FD5FCF52700C45DCB4C6716142B223" xlink:to="lab_pnw_USEquitySecuritiesMember_50FD5FCF52700C45DCB4C6716142B223" xlink:type="arc"/>

<link:label id="lab_pnw_InternationalEquitySecuritiesMember_1CDBB6532B6CA003CF8FC67161421CCB_terseLabel_en-US" xlink:label="lab_pnw_InternationalEquitySecuritiesMember_1CDBB6532B6CA003CF8FC67161421CCB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> International equities </link:label>

<link:label id="lab_pnw_InternationalEquitySecuritiesMember_1CDBB6532B6CA003CF8FC67161421CCB_label_en-US" xlink:label="lab_pnw_InternationalEquitySecuritiesMember_1CDBB6532B6CA003CF8FC67161421CCB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> International Equity Securities [Member] </link:label>

<link:label id="lab_pnw_InternationalEquitySecuritiesMember_1CDBB6532B6CA003CF8FC67161421CCB_documentation_en-US" xlink:label="lab_pnw_InternationalEquitySecuritiesMember_1CDBB6532B6CA003CF8FC67161421CCB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Investments made in common and collective trusts that primarily invest in international equities. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_InternationalEquitySecuritiesMember" xlink:label="loc_pnw_InternationalEquitySecuritiesMember_1CDBB6532B6CA003CF8FC67161421CCB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_InternationalEquitySecuritiesMember_1CDBB6532B6CA003CF8FC67161421CCB" xlink:to="lab_pnw_InternationalEquitySecuritiesMember_1CDBB6532B6CA003CF8FC67161421CCB" xlink:type="arc"/>

<link:label id="lab_us-gaap_RealEstateInvestmentMember_248F76BCD31B12F441CDC67161426D2A_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentMember_248F76BCD31B12F441CDC67161426D2A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Real estate </link:label>

<link:label id="lab_us-gaap_RealEstateInvestmentMember_248F76BCD31B12F441CDC67161426D2A_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentMember_248F76BCD31B12F441CDC67161426D2A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate Investment [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateInvestmentMember" xlink:label="loc_us-gaap_RealEstateInvestmentMember_248F76BCD31B12F441CDC67161426D2A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentMember_248F76BCD31B12F441CDC67161426D2A" xlink:to="lab_us-gaap_RealEstateInvestmentMember_248F76BCD31B12F441CDC67161426D2A" xlink:type="arc"/>

<link:label id="lab_pnw_PartnershipsMember_C0EC1D8A427BE04DA3E9C67161422225_terseLabel_en-US" xlink:label="lab_pnw_PartnershipsMember_C0EC1D8A427BE04DA3E9C67161422225" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Partnerships </link:label>

<link:label id="lab_pnw_PartnershipsMember_C0EC1D8A427BE04DA3E9C67161422225_label_en-US" xlink:label="lab_pnw_PartnershipsMember_C0EC1D8A427BE04DA3E9C67161422225" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Partnerships [Member] </link:label>

<link:label id="lab_pnw_PartnershipsMember_C0EC1D8A427BE04DA3E9C67161422225_documentation_en-US" xlink:label="lab_pnw_PartnershipsMember_C0EC1D8A427BE04DA3E9C67161422225" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Partnerships [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PartnershipsMember" xlink:label="loc_pnw_PartnershipsMember_C0EC1D8A427BE04DA3E9C67161422225" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PartnershipsMember_C0EC1D8A427BE04DA3E9C67161422225" xlink:to="lab_pnw_PartnershipsMember_C0EC1D8A427BE04DA3E9C67161422225" xlink:type="arc"/>

<link:label id="lab_pnw_MutualFundsInternationalEquitiesMember_DFD10EC59028C09768E7C68DFE678FCA_terseLabel_en-US" xlink:label="lab_pnw_MutualFundsInternationalEquitiesMember_DFD10EC59028C09768E7C68DFE678FCA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Mutual funds - International equities </link:label>

<link:label id="lab_pnw_MutualFundsInternationalEquitiesMember_DFD10EC59028C09768E7C68DFE678FCA_label_en-US" xlink:label="lab_pnw_MutualFundsInternationalEquitiesMember_DFD10EC59028C09768E7C68DFE678FCA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Mutual Funds - International Equities [Member] </link:label>

<link:label id="lab_pnw_MutualFundsInternationalEquitiesMember_DFD10EC59028C09768E7C68DFE678FCA_documentation_en-US" xlink:label="lab_pnw_MutualFundsInternationalEquitiesMember_DFD10EC59028C09768E7C68DFE678FCA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Mutual Funds - International Equities [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_MutualFundsInternationalEquitiesMember" xlink:label="loc_pnw_MutualFundsInternationalEquitiesMember_DFD10EC59028C09768E7C68DFE678FCA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_MutualFundsInternationalEquitiesMember_DFD10EC59028C09768E7C68DFE678FCA" xlink:to="lab_pnw_MutualFundsInternationalEquitiesMember_DFD10EC59028C09768E7C68DFE678FCA" xlink:type="arc"/>

<link:label id="lab_pnw_ShortTermInvestmentsAndOtherMember_A84D26E34097FA4925A7C67161423EDB_terseLabel_en-US" xlink:label="lab_pnw_ShortTermInvestmentsAndOtherMember_A84D26E34097FA4925A7C67161423EDB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Short-term investments and other </link:label>

<link:label id="lab_pnw_ShortTermInvestmentsAndOtherMember_A84D26E34097FA4925A7C67161423EDB_label_en-US" xlink:label="lab_pnw_ShortTermInvestmentsAndOtherMember_A84D26E34097FA4925A7C67161423EDB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Short Term Investments and Other [Member] </link:label>

<link:label id="lab_pnw_ShortTermInvestmentsAndOtherMember_A84D26E34097FA4925A7C67161423EDB_documentation_en-US" xlink:label="lab_pnw_ShortTermInvestmentsAndOtherMember_A84D26E34097FA4925A7C67161423EDB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the short-term investments and other. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ShortTermInvestmentsAndOtherMember" xlink:label="loc_pnw_ShortTermInvestmentsAndOtherMember_A84D26E34097FA4925A7C67161423EDB" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis_D1C38883B483820A2BDDC67161423D41_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis_D1C38883B483820A2BDDC67161423D41" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plans and Other Postretirement Benefit Plans [Axis] </link:label>

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<link:label id="lab_us-gaap_DefinedBenefitPlansDomain_E09FA2A8CE7F46FBD010C67161420EDF_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlansDomain_E09FA2A8CE7F46FBD010C67161420EDF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan and Other Postretirement Benefit Plan [Domain] </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlansDomain_E09FA2A8CE7F46FBD010C67161420EDF_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlansDomain_E09FA2A8CE7F46FBD010C67161420EDF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan and Other Postretirement Benefit Plan [Domain] </link:label>

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<link:label id="lab_us-gaap_PensionPlansDefinedBenefitMember_AEEF1FB2DC75A2EB912BC6716142E7A2_terseLabel_en-US" xlink:label="lab_us-gaap_PensionPlansDefinedBenefitMember_AEEF1FB2DC75A2EB912BC6716142E7A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pension Benefits </link:label>

<link:label id="lab_us-gaap_PensionPlansDefinedBenefitMember_AEEF1FB2DC75A2EB912BC6716142E7A2_label_en-US" xlink:label="lab_us-gaap_PensionPlansDefinedBenefitMember_AEEF1FB2DC75A2EB912BC6716142E7A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pension Plan [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PensionPlansDefinedBenefitMember" xlink:label="loc_us-gaap_PensionPlansDefinedBenefitMember_AEEF1FB2DC75A2EB912BC6716142E7A2" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember_B7C216AE5376AB346195C6716147A00D_terseLabel_en-US" xlink:label="lab_us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember_B7C216AE5376AB346195C6716147A00D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other Benefits </link:label>

<link:label id="lab_us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember_B7C216AE5376AB346195C6716147A00D_label_en-US" xlink:label="lab_us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember_B7C216AE5376AB346195C6716147A00D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Postretirement Benefit Plan [Member] </link:label>

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<link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_A126FB18622AE5F403FDC6716147AA9D_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_A126FB18622AE5F403FDC6716147AA9D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value, Hierarchy [Axis] </link:label>

<link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_A126FB18622AE5F403FDC6716147AA9D_label_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_A126FB18622AE5F403FDC6716147AA9D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Hierarchy [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_A126FB18622AE5F403FDC6716147AA9D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_19C6DF873D5DE704CC58C67161471B19_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_19C6DF873D5DE704CC58C67161471B19" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value Hierarchy [Domain] </link:label>

<link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_19C6DF873D5DE704CC58C67161471B19_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_19C6DF873D5DE704CC58C67161471B19" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Hierarchy [Domain] </link:label>

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<link:label id="lab_us-gaap_FairValueInputsLevel1Member_E18686FADC98778E28EEC6716147143D_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member_E18686FADC98778E28EEC6716147143D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Quoted Prices in Active Markets for Identical Assets (Level 1) </link:label>

<link:label id="lab_us-gaap_FairValueInputsLevel1Member_E18686FADC98778E28EEC6716147143D_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member_E18686FADC98778E28EEC6716147143D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Inputs, Level 1 [Member] </link:label>

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<link:label id="lab_us-gaap_FairValueInputsLevel2Member_4A85EAE2A496C927E9A3C6716147D345_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member_4A85EAE2A496C927E9A3C6716147D345" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Significant Other Observable Inputs (Level 2) </link:label>

<link:label id="lab_us-gaap_FairValueInputsLevel2Member_4A85EAE2A496C927E9A3C6716147D345_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member_4A85EAE2A496C927E9A3C6716147D345" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Inputs, Level 2 [Member] </link:label>

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<link:label id="lab_us-gaap_FairValueInputsLevel3Member_6B5F18E081711C89EF0DC671614784F3_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member_6B5F18E081711C89EF0DC671614784F3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Significant Unobservable Inputs (Level 3) </link:label>

<link:label id="lab_us-gaap_FairValueInputsLevel3Member_6B5F18E081711C89EF0DC671614784F3_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member_6B5F18E081711C89EF0DC671614784F3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Inputs, Level 3 [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_us-gaap_FairValueInputsLevel3Member_6B5F18E081711C89EF0DC671614784F3" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ParentCompanyMember_071874830A86B6B0AD35C6716148F079_terseLabel_en-US" xlink:label="lab_us-gaap_ParentCompanyMember_071874830A86B6B0AD35C6716148F079" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pinnacle West </link:label>

<link:label id="lab_us-gaap_ParentCompanyMember_071874830A86B6B0AD35C6716148F079_label_en-US" xlink:label="lab_us-gaap_ParentCompanyMember_071874830A86B6B0AD35C6716148F079" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Parent Company [Member] </link:label>

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<link:label id="lab_us-gaap_DefinedBenefitPlanDisclosureLineItems_3F259BB4DB6F47FCC7E2C67161483558_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanDisclosureLineItems_3F259BB4DB6F47FCC7E2C67161483558" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan Disclosure [Line Items] </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanDisclosureLineItems_3F259BB4DB6F47FCC7E2C67161483558_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanDisclosureLineItems_3F259BB4DB6F47FCC7E2C67161483558" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan Disclosure [Line Items] </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanFairValueOfPlanAssetsAbstract_2D388523808995891EFAC67161487D1A_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanFairValueOfPlanAssetsAbstract_2D388523808995891EFAC67161487D1A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair value of Pinnacle West's pension plan and other postretirement benefit plan assets, by asset category </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanFairValueOfPlanAssetsAbstract_2D388523808995891EFAC67161487D1A_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanFairValueOfPlanAssetsAbstract_2D388523808995891EFAC67161487D1A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Fair Value of Plan Assets [Abstract] </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanGrossFairValueofPlanAssets_612A11CF18325920826AC67161481D7A_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanGrossFairValueofPlanAssets_612A11CF18325920826AC67161481D7A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Gross fair value of plan assets </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanNetReceivablesPayables_8B63A0F01D6706B7B054C671614878A0_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanNetReceivablesPayables_8B63A0F01D6706B7B054C671614878A0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net receivables (payables) </link:label>

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<link:label id="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_93B6F30CEE459BDED9D1C67161489F53_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_93B6F30CEE459BDED9D1C67161489F53" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair value of plan assets </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_93B6F30CEE459BDED9D1C67161489F53_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_93B6F30CEE459BDED9D1C67161489F53" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Fair Value of Plan Assets </link:label>

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<link:label id="lab_us-gaap_IncomeStatementAbstract_4A2BA6C5431F46D65C29C671637BC464_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract_4A2BA6C5431F46D65C29C671637BC464" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Statement [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract_4A2BA6C5431F46D65C29C671637BC464" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StatementTable_8281E65AC39E61832B74C671637CCC80_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable_8281E65AC39E61832B74C671637CCC80" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Statement [Table] </link:label>

<link:label id="lab_us-gaap_StatementTable_8281E65AC39E61832B74C671637CCC80_label_en-US" xlink:label="lab_us-gaap_StatementTable_8281E65AC39E61832B74C671637CCC80" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_8281E65AC39E61832B74C671637CCC80" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StatementLineItems_2E2CED7C6A6F5240A50BC671637C6D6D_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems_2E2CED7C6A6F5240A50BC671637C6D6D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Statement </link:label>

<link:label id="lab_us-gaap_StatementLineItems_2E2CED7C6A6F5240A50BC671637C6D6D_label_en-US" xlink:label="lab_us-gaap_StatementLineItems_2E2CED7C6A6F5240A50BC671637C6D6D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_2E2CED7C6A6F5240A50BC671637C6D6D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_SalesRevenueNet_B2C3070AD7196541DEF1C671637C5009_terseLabel_en-US" xlink:label="lab_us-gaap_SalesRevenueNet_B2C3070AD7196541DEF1C671637C5009" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> OPERATING REVENUES </link:label>

<link:label id="lab_us-gaap_SalesRevenueNet_B2C3070AD7196541DEF1C671637C5009_label_en-US" xlink:label="lab_us-gaap_SalesRevenueNet_B2C3070AD7196541DEF1C671637C5009" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Revenue, Net </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SalesRevenueNet" xlink:label="loc_us-gaap_SalesRevenueNet_B2C3070AD7196541DEF1C671637C5009" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ElectricDomesticRegulatedRevenue_5B6201641B88F7F22BB1C671637C5B02_verboseLabel_en-US" xlink:label="lab_us-gaap_ElectricDomesticRegulatedRevenue_5B6201641B88F7F22BB1C671637C5B02" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> ELECTRIC OPERATING REVENUES </link:label>

<link:label id="lab_us-gaap_ElectricDomesticRegulatedRevenue_5B6201641B88F7F22BB1C671637C5B02_label_en-US" xlink:label="lab_us-gaap_ElectricDomesticRegulatedRevenue_5B6201641B88F7F22BB1C671637C5B02" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Electric Domestic Regulated Revenue </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ElectricDomesticRegulatedRevenue" xlink:label="loc_us-gaap_ElectricDomesticRegulatedRevenue_5B6201641B88F7F22BB1C671637C5B02" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CostsAndExpensesAbstract_7EDAC6098C3A2B17C682C671637CB70F_terseLabel_en-US" xlink:label="lab_us-gaap_CostsAndExpensesAbstract_7EDAC6098C3A2B17C682C671637CB70F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> OPERATING EXPENSES </link:label>

<link:label id="lab_us-gaap_CostsAndExpensesAbstract_7EDAC6098C3A2B17C682C671637CB70F_label_en-US" xlink:label="lab_us-gaap_CostsAndExpensesAbstract_7EDAC6098C3A2B17C682C671637CB70F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Costs and Expenses [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="loc_us-gaap_CostsAndExpensesAbstract_7EDAC6098C3A2B17C682C671637CB70F" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CostOfGoodsSoldElectric_0A2871920AAC134A4608C671637C1687_terseLabel_en-US" xlink:label="lab_us-gaap_CostOfGoodsSoldElectric_0A2871920AAC134A4608C671637C1687" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fuel and purchased power </link:label>

<link:label id="lab_us-gaap_CostOfGoodsSoldElectric_0A2871920AAC134A4608C671637C1687_label_en-US" xlink:label="lab_us-gaap_CostOfGoodsSoldElectric_0A2871920AAC134A4608C671637C1687" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cost of Goods Sold, Electric </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostOfGoodsSoldElectric" xlink:label="loc_us-gaap_CostOfGoodsSoldElectric_0A2871920AAC134A4608C671637C1687" xlink:type="locator"/>

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<link:label id="lab_us-gaap_UtilitiesOperatingExpenseMaintenanceAndOperations_464C03AD69F2BCB546F7C671637C8E71_terseLabel_en-US" xlink:label="lab_us-gaap_UtilitiesOperatingExpenseMaintenanceAndOperations_464C03AD69F2BCB546F7C671637C8E71" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Operations and maintenance </link:label>

<link:label id="lab_us-gaap_UtilitiesOperatingExpenseMaintenanceAndOperations_464C03AD69F2BCB546F7C671637C8E71_label_en-US" xlink:label="lab_us-gaap_UtilitiesOperatingExpenseMaintenanceAndOperations_464C03AD69F2BCB546F7C671637C8E71" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Utilities Operating Expense, Maintenance and Operations </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UtilitiesOperatingExpenseMaintenanceAndOperations" xlink:label="loc_us-gaap_UtilitiesOperatingExpenseMaintenanceAndOperations_464C03AD69F2BCB546F7C671637C8E71" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CostOfServicesDepreciationAndAmortization_DB5A8F9699B3C3F3397EC671637C2DE7_terseLabel_en-US" xlink:label="lab_us-gaap_CostOfServicesDepreciationAndAmortization_DB5A8F9699B3C3F3397EC671637C2DE7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Depreciation and amortization </link:label>

<link:label id="lab_us-gaap_CostOfServicesDepreciationAndAmortization_DB5A8F9699B3C3F3397EC671637C2DE7_label_en-US" xlink:label="lab_us-gaap_CostOfServicesDepreciationAndAmortization_DB5A8F9699B3C3F3397EC671637C2DE7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cost of Services, Depreciation and Amortization </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostOfServicesDepreciationAndAmortization" xlink:label="loc_us-gaap_CostOfServicesDepreciationAndAmortization_DB5A8F9699B3C3F3397EC671637C2DE7" xlink:type="locator"/>

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<link:label id="lab_us-gaap_TaxesExcludingIncomeAndExciseTaxes_25A202A77A8EDDACCF5AC671637C9BD6_terseLabel_en-US" xlink:label="lab_us-gaap_TaxesExcludingIncomeAndExciseTaxes_25A202A77A8EDDACCF5AC671637C9BD6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Taxes other than income taxes </link:label>

<link:label id="lab_us-gaap_TaxesExcludingIncomeAndExciseTaxes_25A202A77A8EDDACCF5AC671637C9BD6_label_en-US" xlink:label="lab_us-gaap_TaxesExcludingIncomeAndExciseTaxes_25A202A77A8EDDACCF5AC671637C9BD6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Taxes, Miscellaneous </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TaxesExcludingIncomeAndExciseTaxes" xlink:label="loc_us-gaap_TaxesExcludingIncomeAndExciseTaxes_25A202A77A8EDDACCF5AC671637C9BD6" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherCostAndExpenseOperating_E0E0ED568D5907FFEF89C671637CDA5D_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCostAndExpenseOperating_E0E0ED568D5907FFEF89C671637CDA5D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other expenses </link:label>

<link:label id="lab_us-gaap_OtherCostAndExpenseOperating_E0E0ED568D5907FFEF89C671637CDA5D_label_en-US" xlink:label="lab_us-gaap_OtherCostAndExpenseOperating_E0E0ED568D5907FFEF89C671637CDA5D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Cost and Expense, Operating </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherCostAndExpenseOperating" xlink:label="loc_us-gaap_OtherCostAndExpenseOperating_E0E0ED568D5907FFEF89C671637CDA5D" xlink:type="locator"/>

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<link:label id="lab_pnw_OperatingIncomeTaxExpenseBenefit_1026CDA27B63D89120A2C671637CC079_terseLabel_en-US" xlink:label="lab_pnw_OperatingIncomeTaxExpenseBenefit_1026CDA27B63D89120A2C671637CC079" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income taxes (Note 4) </link:label>

<link:label id="lab_pnw_OperatingIncomeTaxExpenseBenefit_1026CDA27B63D89120A2C671637CC079_label_en-US" xlink:label="lab_pnw_OperatingIncomeTaxExpenseBenefit_1026CDA27B63D89120A2C671637CC079" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Income Tax Expense (Benefit) </link:label>

<link:label id="lab_pnw_OperatingIncomeTaxExpenseBenefit_1026CDA27B63D89120A2C671637CC079_documentation_en-US" xlink:label="lab_pnw_OperatingIncomeTaxExpenseBenefit_1026CDA27B63D89120A2C671637CC079" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to operating income. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_OperatingIncomeTaxExpenseBenefit" xlink:label="loc_pnw_OperatingIncomeTaxExpenseBenefit_1026CDA27B63D89120A2C671637CC079" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CostsAndExpenses_5A539BCDC33AFB741A54C671637C2B33_totalLabel_en-US" xlink:label="lab_us-gaap_CostsAndExpenses_5A539BCDC33AFB741A54C671637C2B33" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total </link:label>

<link:label id="lab_us-gaap_CostsAndExpenses_5A539BCDC33AFB741A54C671637C2B33_label_en-US" xlink:label="lab_us-gaap_CostsAndExpenses_5A539BCDC33AFB741A54C671637C2B33" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Costs and Expenses </link:label>

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<link:label id="lab_us-gaap_OperatingIncomeLoss_6E6FE1E439BBD7073E91C671637CF3DC_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss_6E6FE1E439BBD7073E91C671637CF3DC" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> OPERATING INCOME </link:label>

<link:label id="lab_us-gaap_OperatingIncomeLoss_6E6FE1E439BBD7073E91C671637CF3DC_label_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss_6E6FE1E439BBD7073E91C671637CF3DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Income (Loss) </link:label>

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<link:label id="lab_us-gaap_NonoperatingIncomeExpenseAbstract_6F9056B2CA57C2EA3486C671637DF692_terseLabel_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpenseAbstract_6F9056B2CA57C2EA3486C671637DF692" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> OTHER INCOME (DEDUCTIONS) </link:label>

<link:label id="lab_us-gaap_NonoperatingIncomeExpenseAbstract_6F9056B2CA57C2EA3486C671637DF692_label_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpenseAbstract_6F9056B2CA57C2EA3486C671637DF692" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Nonoperating Income (Expense) [Abstract] </link:label>

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<link:label id="lab_pnw_NonoperatingIncomeTaxExpenseBenefit_A414AD74E0867FFA748DC671637D03C3_negatedTerseLabel_en-US" xlink:label="lab_pnw_NonoperatingIncomeTaxExpenseBenefit_A414AD74E0867FFA748DC671637D03C3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Income taxes (Note 4) </link:label>

<link:label id="lab_pnw_NonoperatingIncomeTaxExpenseBenefit_A414AD74E0867FFA748DC671637D03C3_label_en-US" xlink:label="lab_pnw_NonoperatingIncomeTaxExpenseBenefit_A414AD74E0867FFA748DC671637D03C3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Nonoperating Income Tax Expense (Benefit) </link:label>

<link:label id="lab_pnw_NonoperatingIncomeTaxExpenseBenefit_A414AD74E0867FFA748DC671637D03C3_documentation_en-US" xlink:label="lab_pnw_NonoperatingIncomeTaxExpenseBenefit_A414AD74E0867FFA748DC671637D03C3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to non-operating income. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NonoperatingIncomeTaxExpenseBenefit" xlink:label="loc_pnw_NonoperatingIncomeTaxExpenseBenefit_A414AD74E0867FFA748DC671637D03C3" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_779A1DD1E22CAB71A715C671637D0453_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_779A1DD1E22CAB71A715C671637D0453" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Allowance for equity funds used during construction (Note 1) </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_779A1DD1E22CAB71A715C671637D0453_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_779A1DD1E22CAB71A715C671637D0453" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity" xlink:label="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_779A1DD1E22CAB71A715C671637D0453" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_779A1DD1E22CAB71A715C671637D0453" xlink:to="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_779A1DD1E22CAB71A715C671637D0453" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherNonoperatingIncome_BBFB1A2E7B5FFF0E3A19C671637D8A79_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncome_BBFB1A2E7B5FFF0E3A19C671637D8A79" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other income (Note 17) </link:label>

<link:label id="lab_us-gaap_OtherNonoperatingIncome_BBFB1A2E7B5FFF0E3A19C671637D8A79_label_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncome_BBFB1A2E7B5FFF0E3A19C671637D8A79" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Nonoperating Income </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherNonoperatingIncome" xlink:label="loc_us-gaap_OtherNonoperatingIncome_BBFB1A2E7B5FFF0E3A19C671637D8A79" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNonoperatingIncome_BBFB1A2E7B5FFF0E3A19C671637D8A79" xlink:to="lab_us-gaap_OtherNonoperatingIncome_BBFB1A2E7B5FFF0E3A19C671637D8A79" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherNonoperatingExpense_7ED105E2CFABEB32C2F2C671637D3222_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherNonoperatingExpense_7ED105E2CFABEB32C2F2C671637D3222" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Other expense (Note 17) </link:label>

<link:label id="lab_us-gaap_OtherNonoperatingExpense_7ED105E2CFABEB32C2F2C671637D3222_label_en-US" xlink:label="lab_us-gaap_OtherNonoperatingExpense_7ED105E2CFABEB32C2F2C671637D3222" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Nonoperating Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherNonoperatingExpense" xlink:label="loc_us-gaap_OtherNonoperatingExpense_7ED105E2CFABEB32C2F2C671637D3222" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNonoperatingExpense_7ED105E2CFABEB32C2F2C671637D3222" xlink:to="lab_us-gaap_OtherNonoperatingExpense_7ED105E2CFABEB32C2F2C671637D3222" xlink:type="arc"/>

<link:label id="lab_us-gaap_NonoperatingIncomeExpense_721C80E6C739042076EBC671637DA72D_totalLabel_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpense_721C80E6C739042076EBC671637DA72D" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total </link:label>

<link:label id="lab_us-gaap_NonoperatingIncomeExpense_721C80E6C739042076EBC671637DA72D_label_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpense_721C80E6C739042076EBC671637DA72D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Nonoperating Income (Expense) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="loc_us-gaap_NonoperatingIncomeExpense_721C80E6C739042076EBC671637DA72D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_721C80E6C739042076EBC671637DA72D" xlink:to="lab_us-gaap_NonoperatingIncomeExpense_721C80E6C739042076EBC671637DA72D" xlink:type="arc"/>

<link:label id="lab_us-gaap_InterestExpenseAbstract_A542F11D370D399A7A8CC671637DD7C6_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseAbstract_A542F11D370D399A7A8CC671637DD7C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> INTEREST EXPENSE </link:label>

<link:label id="lab_us-gaap_InterestExpenseAbstract_A542F11D370D399A7A8CC671637DD7C6_label_en-US" xlink:label="lab_us-gaap_InterestExpenseAbstract_A542F11D370D399A7A8CC671637DD7C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Expense [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpenseAbstract" xlink:label="loc_us-gaap_InterestExpenseAbstract_A542F11D370D399A7A8CC671637DD7C6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseAbstract_A542F11D370D399A7A8CC671637DD7C6" xlink:to="lab_us-gaap_InterestExpenseAbstract_A542F11D370D399A7A8CC671637DD7C6" xlink:type="arc"/>

<link:label id="lab_us-gaap_InterestExpenseLongTermDebt_1ACB21EA9BD29FA8BDD2C671637D0586_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseLongTermDebt_1ACB21EA9BD29FA8BDD2C671637D0586" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest on long-term debt </link:label>

<link:label id="lab_us-gaap_InterestExpenseLongTermDebt_1ACB21EA9BD29FA8BDD2C671637D0586_label_en-US" xlink:label="lab_us-gaap_InterestExpenseLongTermDebt_1ACB21EA9BD29FA8BDD2C671637D0586" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Expense, Long-term Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpenseLongTermDebt" xlink:label="loc_us-gaap_InterestExpenseLongTermDebt_1ACB21EA9BD29FA8BDD2C671637D0586" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseLongTermDebt_1ACB21EA9BD29FA8BDD2C671637D0586" xlink:to="lab_us-gaap_InterestExpenseLongTermDebt_1ACB21EA9BD29FA8BDD2C671637D0586" xlink:type="arc"/>

<link:label id="lab_us-gaap_InterestExpenseShortTermBorrowings_726AB4846787A8E6B414C671637D2659_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseShortTermBorrowings_726AB4846787A8E6B414C671637D2659" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest on short-term borrowings </link:label>

<link:label id="lab_us-gaap_InterestExpenseShortTermBorrowings_726AB4846787A8E6B414C671637D2659_label_en-US" xlink:label="lab_us-gaap_InterestExpenseShortTermBorrowings_726AB4846787A8E6B414C671637D2659" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Expense, Short-term Borrowings </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpenseShortTermBorrowings" xlink:label="loc_us-gaap_InterestExpenseShortTermBorrowings_726AB4846787A8E6B414C671637D2659" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseShortTermBorrowings_726AB4846787A8E6B414C671637D2659" xlink:to="lab_us-gaap_InterestExpenseShortTermBorrowings_726AB4846787A8E6B414C671637D2659" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts_AEC2BF29DAC0B4F397E5C671637DD248_terseLabel_en-US" xlink:label="lab_us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts_AEC2BF29DAC0B4F397E5C671637DD248" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt discount, premium and expense </link:label>

<link:label id="lab_us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts_AEC2BF29DAC0B4F397E5C671637DD248_label_en-US" xlink:label="lab_us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts_AEC2BF29DAC0B4F397E5C671637DD248" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Related Commitment Fees and Debt Issuance Costs </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts" xlink:label="loc_us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts_AEC2BF29DAC0B4F397E5C671637DD248" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts_AEC2BF29DAC0B4F397E5C671637DD248" xlink:to="lab_us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts_AEC2BF29DAC0B4F397E5C671637DD248" xlink:type="arc"/>

<link:label id="lab_us-gaap_InterestCostsIncurred_42A2C31FEB09D5DB6CA5C671637D1E79_terseLabel_en-US" xlink:label="lab_us-gaap_InterestCostsIncurred_42A2C31FEB09D5DB6CA5C671637D1E79" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest charges </link:label>

<link:label id="lab_us-gaap_InterestCostsIncurred_42A2C31FEB09D5DB6CA5C671637D1E79_label_en-US" xlink:label="lab_us-gaap_InterestCostsIncurred_42A2C31FEB09D5DB6CA5C671637D1E79" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Costs Incurred </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestCostsIncurred" xlink:label="loc_us-gaap_InterestCostsIncurred_42A2C31FEB09D5DB6CA5C671637D1E79" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestCostsIncurred_42A2C31FEB09D5DB6CA5C671637D1E79" xlink:to="lab_us-gaap_InterestCostsIncurred_42A2C31FEB09D5DB6CA5C671637D1E79" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedInterest_4AA9A01F516C6B4FB0D9C671637D10B8_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedInterest_4AA9A01F516C6B4FB0D9C671637D10B8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Allowance for borrowed funds used during construction (Note 1) </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedInterest_4AA9A01F516C6B4FB0D9C671637D10B8_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedInterest_4AA9A01F516C6B4FB0D9C671637D10B8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Allowance for Funds Used During Construction, Capitalized Interest </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedInterest" xlink:label="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedInterest_4AA9A01F516C6B4FB0D9C671637D10B8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedInterest_4AA9A01F516C6B4FB0D9C671637D10B8" xlink:to="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedInterest_4AA9A01F516C6B4FB0D9C671637D10B8" xlink:type="arc"/>

<link:label id="lab_us-gaap_InterestExpense_8D5E7C0246324CA3F6BFC671637D00F5_totalLabel_en-US" xlink:label="lab_us-gaap_InterestExpense_8D5E7C0246324CA3F6BFC671637D00F5" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total </link:label>

<link:label id="lab_us-gaap_InterestExpense_8D5E7C0246324CA3F6BFC671637D00F5_label_en-US" xlink:label="lab_us-gaap_InterestExpense_8D5E7C0246324CA3F6BFC671637D00F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_8D5E7C0246324CA3F6BFC671637D00F5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpense_8D5E7C0246324CA3F6BFC671637D00F5" xlink:to="lab_us-gaap_InterestExpense_8D5E7C0246324CA3F6BFC671637D00F5" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest_7DBE84B5AF7F89EC8912C6B9BFF1D18E_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest_7DBE84B5AF7F89EC8912C6B9BFF1D18E" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> INCOME BEFORE INCOME TAXES </link:label>

<link:label id="lab_us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest_7DBE84B5AF7F89EC8912C6B9BFF1D18E_label_en-US" xlink:label="lab_us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest_7DBE84B5AF7F89EC8912C6B9BFF1D18E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income (Loss), Including Portion Attributable to Noncontrolling Interest </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest_7DBE84B5AF7F89EC8912C6B9BFF1D18E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest_7DBE84B5AF7F89EC8912C6B9BFF1D18E" xlink:to="lab_us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest_7DBE84B5AF7F89EC8912C6B9BFF1D18E" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_46BA9E5EE6DE4CF75F46C671637D0AAC_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_46BA9E5EE6DE4CF75F46C671637D0AAC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> INCOME TAXES (Note 4) </link:label>

<link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_46BA9E5EE6DE4CF75F46C671637D0AAC_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_46BA9E5EE6DE4CF75F46C671637D0AAC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax Expense (Benefit) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_46BA9E5EE6DE4CF75F46C671637D0AAC" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ProfitLoss_AB58CF03F92618F9A868C671637D2FF8_totalLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss_AB58CF03F92618F9A868C671637D2FF8" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> NET INCOME </link:label>

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<link:label id="lab_us-gaap_AllowanceForDoubtfulAccountsMember_63C66F7679373C18BA7991C027EC77E1_label_en-US" xlink:label="lab_us-gaap_AllowanceForDoubtfulAccountsMember_63C66F7679373C18BA7991C027EC77E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Allowance for Doubtful Accounts [Member] </link:label>

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<link:label id="lab_us-gaap_ValuationAndQualifyingAccountsDisclosureLineItems_6022C30628D37619071191C027EC54D0_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationAndQualifyingAccountsDisclosureLineItems_6022C30628D37619071191C027EC54D0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Reserve for uncollectibles </link:label>

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<link:label id="lab_us-gaap_MovementInValuationAllowancesAndReservesRollForward_51909E5DEB4CE866CE0291C027EC8E12_terseLabel_en-US" xlink:label="lab_us-gaap_MovementInValuationAllowancesAndReservesRollForward_51909E5DEB4CE866CE0291C027EC8E12" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Changes in reserve for uncollectibles </link:label>

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<link:label id="lab_us-gaap_ValuationAllowancesAndReservesBalance_7408697ED59BFCEFAAFD91C027EC134F_label_en-US" xlink:label="lab_us-gaap_ValuationAllowancesAndReservesBalance_7408697ED59BFCEFAAFD91C027EC134F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Valuation Allowances and Reserves, Balance </link:label>

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<link:label id="lab_us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense_6E1E8807B92D0FACAD4591C027EC84EC_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense_6E1E8807B92D0FACAD4591C027EC84EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additions, Charged to cost and expenses </link:label>

<link:label id="lab_us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense_6E1E8807B92D0FACAD4591C027EC84EC_label_en-US" xlink:label="lab_us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense_6E1E8807B92D0FACAD4591C027EC84EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Valuation Allowances and Reserves, Charged to Cost and Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense" xlink:label="loc_us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense_6E1E8807B92D0FACAD4591C027EC84EC" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ValuationAllowancesAndReservesDeductions_B6F2A3237CAEAACFE10791C027EC5005_label_en-US" xlink:label="lab_us-gaap_ValuationAllowancesAndReservesDeductions_B6F2A3237CAEAACFE10791C027EC5005" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Valuation Allowances and Reserves, Deductions </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ValuationAllowancesAndReservesDeductions" xlink:label="loc_us-gaap_ValuationAllowancesAndReservesDeductions_B6F2A3237CAEAACFE10791C027EC5005" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ValuationAllowancesAndReservesBalance_EAA7DDD575B9F935AA6691C027EC5B99_periodEndLabel_en-US" xlink:label="lab_us-gaap_ValuationAllowancesAndReservesBalance_EAA7DDD575B9F935AA6691C027EC5B99" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Balance at end of period </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ValuationAllowancesAndReservesBalance" xlink:label="loc_us-gaap_ValuationAllowancesAndReservesBalance_EAA7DDD575B9F935AA6691C027EC5B99" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_6697C49BF60AC5A63864A858C2773D98_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract_6697C49BF60AC5A63864A858C2773D98" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax Disclosure [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_6697C49BF60AC5A63864A858C2773D98" xlink:type="locator"/>

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<link:loc xlink:href="pnw-20151231.xsd#pnw_IncomeTaxTable" xlink:label="loc_pnw_IncomeTaxTable_67A7B4F88931000229B1A858C2779747" xlink:type="locator"/>

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<link:label id="lab_pnw_IncomeTaxLineItems_F081BE3EA28CC0A25091A858C277F18C_label_en-US" xlink:label="lab_pnw_IncomeTaxLineItems_F081BE3EA28CC0A25091A858C277F18C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax [Line Items] </link:label>

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<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense_698F2A92268884C19D52A858C277EDD5_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense_698F2A92268884C19D52A858C277EDD5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecognized Tax Benefits, Interest on Income Taxes Expense </link:label>

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<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantNetOwnershipAmountAbstract_5B5A48384F1087C2A07A91C025C1D543_label_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantNetOwnershipAmountAbstract_5B5A48384F1087C2A07A91C025C1D543" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Jointly Owned Utility Plant, Net Ownership Amount [Abstract] </link:label>

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<link:label id="lab_us-gaap_ScheduleOfJointlyOwnedUtilityPlantsTextBlock_8C9FA3F90CCFCCE403CE91C025C100B5_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfJointlyOwnedUtilityPlantsTextBlock_8C9FA3F90CCFCCE403CE91C025C100B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> APS's interests in jointly-owned facilities recorded on the Consolidated Balance Sheets </link:label>

<link:label id="lab_us-gaap_ScheduleOfJointlyOwnedUtilityPlantsTextBlock_8C9FA3F90CCFCCE403CE91C025C100B5_label_en-US" xlink:label="lab_us-gaap_ScheduleOfJointlyOwnedUtilityPlantsTextBlock_8C9FA3F90CCFCCE403CE91C025C100B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Jointly Owned Utility Plants [Table Text Block] </link:label>

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<link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_15B8C088FAFF8B04C96AEB5E7280A93E_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_15B8C088FAFF8B04C96AEB5E7280A93E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commitments and Contingencies Disclosure [Abstract] </link:label>

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<link:label id="lab_pnw_ScheduleOfCommitmentsAndContingenciesTable_08FADA177D38C9F63FD7EB5E7280D107_terseLabel_en-US" xlink:label="lab_pnw_ScheduleOfCommitmentsAndContingenciesTable_08FADA177D38C9F63FD7EB5E7280D107" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Commitments and Contingencies [Table] </link:label>

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<link:label id="lab_us-gaap_SubsequentEventTypeAxis_5274C3E549430F213A95EB5E7280F0EB_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis_5274C3E549430F213A95EB5E7280F0EB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Subsequent Event Type [Axis] </link:label>

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<link:label id="lab_us-gaap_SubsequentEventMember_B59CD2F0112376A883A6EB5E7280CA35_label_en-US" xlink:label="lab_us-gaap_SubsequentEventMember_B59CD2F0112376A883A6EB5E7280CA35" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Subsequent Event [Member] </link:label>

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<link:label id="lab_pnw_FourCornersMember_D31B202B47B372B0F09AEB5E72819557_terseLabel_en-US" xlink:label="lab_pnw_FourCornersMember_D31B202B47B372B0F09AEB5E72819557" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Four Corners </link:label>

<link:label id="lab_pnw_FourCornersMember_D31B202B47B372B0F09AEB5E72819557_label_en-US" xlink:label="lab_pnw_FourCornersMember_D31B202B47B372B0F09AEB5E72819557" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Four Corners [Member] </link:label>

<link:label id="lab_pnw_FourCornersMember_D31B202B47B372B0F09AEB5E72819557_documentation_en-US" xlink:label="lab_pnw_FourCornersMember_D31B202B47B372B0F09AEB5E72819557" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represent information pertaining to Four Corners. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FourCornersMember" xlink:label="loc_pnw_FourCornersMember_D31B202B47B372B0F09AEB5E72819557" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LitigationCaseAxis_B5E305FA761304220C1AEB5E72815F45_terseLabel_en-US" xlink:label="lab_us-gaap_LitigationCaseAxis_B5E305FA761304220C1AEB5E72815F45" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Litigation Case [Axis] </link:label>

<link:label id="lab_us-gaap_LitigationCaseAxis_B5E305FA761304220C1AEB5E72815F45_label_en-US" xlink:label="lab_us-gaap_LitigationCaseAxis_B5E305FA761304220C1AEB5E72815F45" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Litigation Case [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LitigationCaseAxis" xlink:label="loc_us-gaap_LitigationCaseAxis_B5E305FA761304220C1AEB5E72815F45" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LitigationCaseAxis_B5E305FA761304220C1AEB5E72815F45" xlink:to="lab_us-gaap_LitigationCaseAxis_B5E305FA761304220C1AEB5E72815F45" xlink:type="arc"/>

<link:label id="lab_us-gaap_LitigationCaseTypeDomain_B0843237D6AF269D8633EB5E728121AD_terseLabel_en-US" xlink:label="lab_us-gaap_LitigationCaseTypeDomain_B0843237D6AF269D8633EB5E728121AD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Litigation Case [Domain] </link:label>

<link:label id="lab_us-gaap_LitigationCaseTypeDomain_B0843237D6AF269D8633EB5E728121AD_label_en-US" xlink:label="lab_us-gaap_LitigationCaseTypeDomain_B0843237D6AF269D8633EB5E728121AD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Litigation Case [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LitigationCaseTypeDomain" xlink:label="loc_us-gaap_LitigationCaseTypeDomain_B0843237D6AF269D8633EB5E728121AD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LitigationCaseTypeDomain_B0843237D6AF269D8633EB5E728121AD" xlink:to="lab_us-gaap_LitigationCaseTypeDomain_B0843237D6AF269D8633EB5E728121AD" xlink:type="arc"/>

<link:label id="lab_pnw_CleanAirActCitizenLawsuitMember_517A9BBFDC299431DD1AEB5E728148F6_terseLabel_en-US" xlink:label="lab_pnw_CleanAirActCitizenLawsuitMember_517A9BBFDC299431DD1AEB5E728148F6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Clean Air Act Citizen Lawsuit </link:label>

<link:label id="lab_pnw_CleanAirActCitizenLawsuitMember_517A9BBFDC299431DD1AEB5E728148F6_label_en-US" xlink:label="lab_pnw_CleanAirActCitizenLawsuitMember_517A9BBFDC299431DD1AEB5E728148F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Clean Air Act Citizen Lawsuit [Member] </link:label>

<link:label id="lab_pnw_CleanAirActCitizenLawsuitMember_517A9BBFDC299431DD1AEB5E728148F6_documentation_en-US" xlink:label="lab_pnw_CleanAirActCitizenLawsuitMember_517A9BBFDC299431DD1AEB5E728148F6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Clean Air Act Citizen Lawsuit [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_CleanAirActCitizenLawsuitMember" xlink:label="loc_pnw_CleanAirActCitizenLawsuitMember_517A9BBFDC299431DD1AEB5E728148F6" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_7323E5BAF89783FC7A4CEB5E72818364_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_7323E5BAF89783FC7A4CEB5E72818364" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loss Contingency Nature [Axis] </link:label>

<link:label id="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_7323E5BAF89783FC7A4CEB5E72818364_label_en-US" xlink:label="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_7323E5BAF89783FC7A4CEB5E72818364" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss Contingency Nature [Axis] </link:label>

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<link:label id="lab_us-gaap_LossContingencyNatureDomain_FF86A04AC59DAFD1F9E8EB5E7281EA4D_label_en-US" xlink:label="lab_us-gaap_LossContingencyNatureDomain_FF86A04AC59DAFD1F9E8EB5E7281EA4D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss Contingency, Nature [Domain] </link:label>

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<link:label id="lab_pnw_ContaminatedGroundwaterWellsMember_9AD137F685002D66D4C2EB5E72818EC6_terseLabel_en-US" xlink:label="lab_pnw_ContaminatedGroundwaterWellsMember_9AD137F685002D66D4C2EB5E72818EC6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Contaminated groundwater wells </link:label>

<link:label id="lab_pnw_ContaminatedGroundwaterWellsMember_9AD137F685002D66D4C2EB5E72818EC6_label_en-US" xlink:label="lab_pnw_ContaminatedGroundwaterWellsMember_9AD137F685002D66D4C2EB5E72818EC6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Contaminated Groundwater Wells [Member] </link:label>

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<link:label id="lab_pnw_LossofPerishableInventoryandSalesMember_51CD05B9AD2D2DCC8E36EB5E7281F7E8_terseLabel_en-US" xlink:label="lab_pnw_LossofPerishableInventoryandSalesMember_51CD05B9AD2D2DCC8E36EB5E7281F7E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loss of perishable inventory and sales </link:label>

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<link:label id="lab_pnw_LossofPerishableInventoryandSalesMember_51CD05B9AD2D2DCC8E36EB5E7281F7E8_documentation_en-US" xlink:label="lab_pnw_LossofPerishableInventoryandSalesMember_51CD05B9AD2D2DCC8E36EB5E7281F7E8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Loss of Perishable Inventory and Sales [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LossofPerishableInventoryandSalesMember" xlink:label="loc_pnw_LossofPerishableInventoryandSalesMember_51CD05B9AD2D2DCC8E36EB5E7281F7E8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_LossofPerishableInventoryandSalesMember_51CD05B9AD2D2DCC8E36EB5E7281F7E8" xlink:to="lab_pnw_LossofPerishableInventoryandSalesMember_51CD05B9AD2D2DCC8E36EB5E7281F7E8" xlink:type="arc"/>

<link:label id="lab_us-gaap_CreditFacilityAxis_9EB65D07EF46EBF91DDAEB5E72814B67_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis_9EB65D07EF46EBF91DDAEB5E72814B67" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Credit Facility [Axis] </link:label>

<link:label id="lab_us-gaap_CreditFacilityAxis_9EB65D07EF46EBF91DDAEB5E72814B67_label_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis_9EB65D07EF46EBF91DDAEB5E72814B67" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Credit Facility [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CreditFacilityAxis" xlink:label="loc_us-gaap_CreditFacilityAxis_9EB65D07EF46EBF91DDAEB5E72814B67" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityAxis_9EB65D07EF46EBF91DDAEB5E72814B67" xlink:to="lab_us-gaap_CreditFacilityAxis_9EB65D07EF46EBF91DDAEB5E72814B67" xlink:type="arc"/>

<link:label id="lab_us-gaap_CreditFacilityDomain_E59471CC7C31C0E482F8EB5E72813DB0_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain_E59471CC7C31C0E482F8EB5E72813DB0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Credit Facility [Domain] </link:label>

<link:label id="lab_us-gaap_CreditFacilityDomain_E59471CC7C31C0E482F8EB5E72813DB0_label_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain_E59471CC7C31C0E482F8EB5E72813DB0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Credit Facility [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CreditFacilityDomain" xlink:label="loc_us-gaap_CreditFacilityDomain_E59471CC7C31C0E482F8EB5E72813DB0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityDomain_E59471CC7C31C0E482F8EB5E72813DB0" xlink:to="lab_us-gaap_CreditFacilityDomain_E59471CC7C31C0E482F8EB5E72813DB0" xlink:type="arc"/>

<link:label id="lab_pnw_NaturalGasTollingLetterOfCreditMember_24D48D3E03E3B59222A2EB5E72828F78_terseLabel_en-US" xlink:label="lab_pnw_NaturalGasTollingLetterOfCreditMember_24D48D3E03E3B59222A2EB5E72828F78" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Natural Gas Tolling Letter of Credit </link:label>

<link:label id="lab_pnw_NaturalGasTollingLetterOfCreditMember_24D48D3E03E3B59222A2EB5E72828F78_label_en-US" xlink:label="lab_pnw_NaturalGasTollingLetterOfCreditMember_24D48D3E03E3B59222A2EB5E72828F78" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Natural Gas Tolling Letter of Credit [Member] </link:label>

<link:label id="lab_pnw_NaturalGasTollingLetterOfCreditMember_24D48D3E03E3B59222A2EB5E72828F78_documentation_en-US" xlink:label="lab_pnw_NaturalGasTollingLetterOfCreditMember_24D48D3E03E3B59222A2EB5E72828F78" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> A document typically issued by a financial institution which acts as a guarantee of payment to a beneficiary, or as the source of payment for a specific transaction to natural gas tolling contract obligations as of the reporting date. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NaturalGasTollingLetterOfCreditMember" xlink:label="loc_pnw_NaturalGasTollingLetterOfCreditMember_24D48D3E03E3B59222A2EB5E72828F78" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NaturalGasTollingLetterOfCreditMember_24D48D3E03E3B59222A2EB5E72828F78" xlink:to="lab_pnw_NaturalGasTollingLetterOfCreditMember_24D48D3E03E3B59222A2EB5E72828F78" xlink:type="arc"/>

<link:label id="lab_pnw_CommitmentsAndContingenciesLineItems_32CDB8D9DA0339CB0877EB5E72825D7D_terseLabel_en-US" xlink:label="lab_pnw_CommitmentsAndContingenciesLineItems_32CDB8D9DA0339CB0877EB5E72825D7D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commitments and Contingencies [Line Items] </link:label>

<link:label id="lab_pnw_CommitmentsAndContingenciesLineItems_32CDB8D9DA0339CB0877EB5E72825D7D_label_en-US" xlink:label="lab_pnw_CommitmentsAndContingenciesLineItems_32CDB8D9DA0339CB0877EB5E72825D7D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commitments and Contingencies [Line Items] </link:label>

<link:label id="lab_pnw_CommitmentsAndContingenciesLineItems_32CDB8D9DA0339CB0877EB5E72825D7D_documentation_en-US" xlink:label="lab_pnw_CommitmentsAndContingenciesLineItems_32CDB8D9DA0339CB0877EB5E72825D7D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_CommitmentsAndContingenciesLineItems" xlink:label="loc_pnw_CommitmentsAndContingenciesLineItems_32CDB8D9DA0339CB0877EB5E72825D7D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_CommitmentsAndContingenciesLineItems_32CDB8D9DA0339CB0877EB5E72825D7D" xlink:to="lab_pnw_CommitmentsAndContingenciesLineItems_32CDB8D9DA0339CB0877EB5E72825D7D" xlink:type="arc"/>

<link:label id="lab_pnw_ClimateChangeLawsuitAbstract_82486F5C17825BAF0A67EB5E72828DB8_terseLabel_en-US" xlink:label="lab_pnw_ClimateChangeLawsuitAbstract_82486F5C17825BAF0A67EB5E72828DB8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Climate Change Lawsuit </link:label>

<link:label id="lab_pnw_ClimateChangeLawsuitAbstract_82486F5C17825BAF0A67EB5E72828DB8_label_en-US" xlink:label="lab_pnw_ClimateChangeLawsuitAbstract_82486F5C17825BAF0A67EB5E72828DB8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Climate Change Lawsuit [Abstract] </link:label>

<link:label id="lab_pnw_ClimateChangeLawsuitAbstract_82486F5C17825BAF0A67EB5E72828DB8_documentation_en-US" xlink:label="lab_pnw_ClimateChangeLawsuitAbstract_82486F5C17825BAF0A67EB5E72828DB8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ClimateChangeLawsuitAbstract" xlink:label="loc_pnw_ClimateChangeLawsuitAbstract_82486F5C17825BAF0A67EB5E72828DB8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ClimateChangeLawsuitAbstract_82486F5C17825BAF0A67EB5E72828DB8" xlink:to="lab_pnw_ClimateChangeLawsuitAbstract_82486F5C17825BAF0A67EB5E72828DB8" xlink:type="arc"/>

<link:label id="lab_pnw_SuperfundAbstract_540352BEFBD52BEFE1E7EB5E7282BE9B_terseLabel_en-US" xlink:label="lab_pnw_SuperfundAbstract_540352BEFBD52BEFE1E7EB5E7282BE9B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Superfund </link:label>

<link:label id="lab_pnw_SuperfundAbstract_540352BEFBD52BEFE1E7EB5E7282BE9B_label_en-US" xlink:label="lab_pnw_SuperfundAbstract_540352BEFBD52BEFE1E7EB5E7282BE9B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Superfund [Abstract] </link:label>

<link:label id="lab_pnw_SuperfundAbstract_540352BEFBD52BEFE1E7EB5E7282BE9B_documentation_en-US" xlink:label="lab_pnw_SuperfundAbstract_540352BEFBD52BEFE1E7EB5E7282BE9B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SuperfundAbstract" xlink:label="loc_pnw_SuperfundAbstract_540352BEFBD52BEFE1E7EB5E7282BE9B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SuperfundAbstract_540352BEFBD52BEFE1E7EB5E7282BE9B" xlink:to="lab_pnw_SuperfundAbstract_540352BEFBD52BEFE1E7EB5E7282BE9B" xlink:type="arc"/>

<link:label id="lab_pnw_CostsRelatedToInvestigationAndStudyUnderSuperfundSite_2610FF4A2D967FBC3183EB5E7282C953_terseLabel_en-US" xlink:label="lab_pnw_CostsRelatedToInvestigationAndStudyUnderSuperfundSite_2610FF4A2D967FBC3183EB5E7282C953" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Costs related to investigation and study under Superfund site </link:label>

<link:label id="lab_pnw_CostsRelatedToInvestigationAndStudyUnderSuperfundSite_2610FF4A2D967FBC3183EB5E7282C953_label_en-US" xlink:label="lab_pnw_CostsRelatedToInvestigationAndStudyUnderSuperfundSite_2610FF4A2D967FBC3183EB5E7282C953" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Costs Related to Investigation and Study under Superfund Site </link:label>

<link:label id="lab_pnw_CostsRelatedToInvestigationAndStudyUnderSuperfundSite_2610FF4A2D967FBC3183EB5E7282C953_documentation_en-US" xlink:label="lab_pnw_CostsRelatedToInvestigationAndStudyUnderSuperfundSite_2610FF4A2D967FBC3183EB5E7282C953" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Costs related to site-wide groundwater remedial investigation and feasibility study work plan because subsidiary has been found to be potentially responsible parties ("PRPs") with liability for cleanup of hazardous substances that contaminates the soil, water or air, under the Comprehensive Environmental Response, Compensation and Liability Act ("Superfund"). </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_CostsRelatedToInvestigationAndStudyUnderSuperfundSite" xlink:label="loc_pnw_CostsRelatedToInvestigationAndStudyUnderSuperfundSite_2610FF4A2D967FBC3183EB5E7282C953" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_CostsRelatedToInvestigationAndStudyUnderSuperfundSite_2610FF4A2D967FBC3183EB5E7282C953" xlink:to="lab_pnw_CostsRelatedToInvestigationAndStudyUnderSuperfundSite_2610FF4A2D967FBC3183EB5E7282C953" xlink:type="arc"/>

<link:label id="lab_us-gaap_LossContingencyNumberOfDefendants_15F0AB9785AF29F59C18EB5E72822B06_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingencyNumberOfDefendants_15F0AB9785AF29F59C18EB5E72822B06" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of defendants against whom Roosevelt Irrigation District ("RID") filed lawsuit </link:label>

<link:label id="lab_us-gaap_LossContingencyNumberOfDefendants_15F0AB9785AF29F59C18EB5E72822B06_label_en-US" xlink:label="lab_us-gaap_LossContingencyNumberOfDefendants_15F0AB9785AF29F59C18EB5E72822B06" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss Contingency, Number of Defendants </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LossContingencyNumberOfDefendants" xlink:label="loc_us-gaap_LossContingencyNumberOfDefendants_15F0AB9785AF29F59C18EB5E72822B06" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyNumberOfDefendants_15F0AB9785AF29F59C18EB5E72822B06" xlink:to="lab_us-gaap_LossContingencyNumberOfDefendants_15F0AB9785AF29F59C18EB5E72822B06" xlink:type="arc"/>

<link:label id="lab_pnw_PowerOutageAbstract_9BB2A1584652598B7DE5EB5E72823E07_terseLabel_en-US" xlink:label="lab_pnw_PowerOutageAbstract_9BB2A1584652598B7DE5EB5E72823E07" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Southwest Power Outage </link:label>

<link:label id="lab_pnw_PowerOutageAbstract_9BB2A1584652598B7DE5EB5E72823E07_label_en-US" xlink:label="lab_pnw_PowerOutageAbstract_9BB2A1584652598B7DE5EB5E72823E07" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Power Outage [Abstract] </link:label>

<link:label id="lab_pnw_PowerOutageAbstract_9BB2A1584652598B7DE5EB5E72823E07_documentation_en-US" xlink:label="lab_pnw_PowerOutageAbstract_9BB2A1584652598B7DE5EB5E72823E07" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PowerOutageAbstract" xlink:label="loc_pnw_PowerOutageAbstract_9BB2A1584652598B7DE5EB5E72823E07" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PowerOutageAbstract_9BB2A1584652598B7DE5EB5E72823E07" xlink:to="lab_pnw_PowerOutageAbstract_9BB2A1584652598B7DE5EB5E72823E07" xlink:type="arc"/>

<link:label id="lab_pnw_PowerOutageCapacityofTransmissionLinethatTrippedoutofService_8FB3C966CC89ECA8B904EB5E728229E0_terseLabel_en-US" xlink:label="lab_pnw_PowerOutageCapacityofTransmissionLinethatTrippedoutofService_8FB3C966CC89ECA8B904EB5E728229E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Power outage capacity of transmission line that tripped out of service </link:label>

<link:label id="lab_pnw_PowerOutageCapacityofTransmissionLinethatTrippedoutofService_8FB3C966CC89ECA8B904EB5E728229E0_label_en-US" xlink:label="lab_pnw_PowerOutageCapacityofTransmissionLinethatTrippedoutofService_8FB3C966CC89ECA8B904EB5E728229E0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Power Outage Capacity of Transmission Line that Tripped out of Service </link:label>

<link:label id="lab_pnw_PowerOutageCapacityofTransmissionLinethatTrippedoutofService_8FB3C966CC89ECA8B904EB5E728229E0_documentation_en-US" xlink:label="lab_pnw_PowerOutageCapacityofTransmissionLinethatTrippedoutofService_8FB3C966CC89ECA8B904EB5E728229E0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Power Outage Capacity of Transmission Line that Tripped out of Service </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PowerOutageCapacityofTransmissionLinethatTrippedoutofService" xlink:label="loc_pnw_PowerOutageCapacityofTransmissionLinethatTrippedoutofService_8FB3C966CC89ECA8B904EB5E728229E0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PowerOutageCapacityofTransmissionLinethatTrippedoutofService_8FB3C966CC89ECA8B904EB5E728229E0" xlink:to="lab_pnw_PowerOutageCapacityofTransmissionLinethatTrippedoutofService_8FB3C966CC89ECA8B904EB5E728229E0" xlink:type="arc"/>

<link:label id="lab_pnw_PowerOutagePeriodOverWhichGenerationAndTransmissionResourcesWereLost_5F2D221E86A7AF1AB391EB5E7282A9CF_terseLabel_en-US" xlink:label="lab_pnw_PowerOutagePeriodOverWhichGenerationAndTransmissionResourcesWereLost_5F2D221E86A7AF1AB391EB5E7282A9CF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Period, after the transmission line went off-line, over which generation and transmission resources for the Yuma area were lost </link:label>

<link:label id="lab_pnw_PowerOutagePeriodOverWhichGenerationAndTransmissionResourcesWereLost_5F2D221E86A7AF1AB391EB5E7282A9CF_label_en-US" xlink:label="lab_pnw_PowerOutagePeriodOverWhichGenerationAndTransmissionResourcesWereLost_5F2D221E86A7AF1AB391EB5E7282A9CF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Power Outage Period Over which Generation and Transmission Resources were Lost </link:label>

<link:label id="lab_pnw_PowerOutagePeriodOverWhichGenerationAndTransmissionResourcesWereLost_5F2D221E86A7AF1AB391EB5E7282A9CF_documentation_en-US" xlink:label="lab_pnw_PowerOutagePeriodOverWhichGenerationAndTransmissionResourcesWereLost_5F2D221E86A7AF1AB391EB5E7282A9CF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the period, after the transmission line went off-line, until the generation and transmission resources were lost in the power outage. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PowerOutagePeriodOverWhichGenerationAndTransmissionResourcesWereLost" xlink:label="loc_pnw_PowerOutagePeriodOverWhichGenerationAndTransmissionResourcesWereLost_5F2D221E86A7AF1AB391EB5E7282A9CF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PowerOutagePeriodOverWhichGenerationAndTransmissionResourcesWereLost_5F2D221E86A7AF1AB391EB5E7282A9CF" xlink:to="lab_pnw_PowerOutagePeriodOverWhichGenerationAndTransmissionResourcesWereLost_5F2D221E86A7AF1AB391EB5E7282A9CF" xlink:type="arc"/>

<link:label id="lab_pnw_PowerOutageNumberOfCustomersLosingService_14597E9683E7AA858B14EB5E7282DB87_terseLabel_en-US" xlink:label="lab_pnw_PowerOutageNumberOfCustomersLosingService_14597E9683E7AA858B14EB5E7282DB87" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of customers losing service in Yuma area </link:label>

<link:label id="lab_pnw_PowerOutageNumberOfCustomersLosingService_14597E9683E7AA858B14EB5E7282DB87_label_en-US" xlink:label="lab_pnw_PowerOutageNumberOfCustomersLosingService_14597E9683E7AA858B14EB5E7282DB87" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Power Outage Number of Customers Losing Service </link:label>

<link:label id="lab_pnw_PowerOutageNumberOfCustomersLosingService_14597E9683E7AA858B14EB5E7282DB87_documentation_en-US" xlink:label="lab_pnw_PowerOutageNumberOfCustomersLosingService_14597E9683E7AA858B14EB5E7282DB87" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the number of customers losing service after the generation and transmission resources were lost in the power outage. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PowerOutageNumberOfCustomersLosingService" xlink:label="loc_pnw_PowerOutageNumberOfCustomersLosingService_14597E9683E7AA858B14EB5E7282DB87" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PowerOutageNumberOfCustomersLosingService_14597E9683E7AA858B14EB5E7282DB87" xlink:to="lab_pnw_PowerOutageNumberOfCustomersLosingService_14597E9683E7AA858B14EB5E7282DB87" xlink:type="arc"/>

<link:label id="lab_us-gaap_LitigationSettlementAmount_F8B5D6F013130146F229EB5E72821C16_verboseLabel_en-US" xlink:label="lab_us-gaap_LitigationSettlementAmount_F8B5D6F013130146F229EB5E72821C16" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Amount of civil penalty agreed in settlement </link:label>

<link:label id="lab_us-gaap_LitigationSettlementAmount_F8B5D6F013130146F229EB5E72821C16_label_en-US" xlink:label="lab_us-gaap_LitigationSettlementAmount_F8B5D6F013130146F229EB5E72821C16" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Litigation Settlement, Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LitigationSettlementAmount" xlink:label="loc_us-gaap_LitigationSettlementAmount_F8B5D6F013130146F229EB5E72821C16" xlink:type="locator"/>

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<link:label id="lab_pnw_LossContingencyEstimatedTimeFrametoResolveContingency_D4E7A2AC722135866896EB5E72829C3B_terseLabel_en-US" xlink:label="lab_pnw_LossContingencyEstimatedTimeFrametoResolveContingency_D4E7A2AC722135866896EB5E72829C3B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Time period a decision is reached after oral argument </link:label>

<link:label id="lab_pnw_LossContingencyEstimatedTimeFrametoResolveContingency_D4E7A2AC722135866896EB5E72829C3B_label_en-US" xlink:label="lab_pnw_LossContingencyEstimatedTimeFrametoResolveContingency_D4E7A2AC722135866896EB5E72829C3B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss Contingency, Estimated Time Frame to Resolve Contingency </link:label>

<link:label id="lab_pnw_LossContingencyEstimatedTimeFrametoResolveContingency_D4E7A2AC722135866896EB5E72829C3B_documentation_en-US" xlink:label="lab_pnw_LossContingencyEstimatedTimeFrametoResolveContingency_D4E7A2AC722135866896EB5E72829C3B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Loss Contingency, Estimated Time Frame to Resolve Contingency </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LossContingencyEstimatedTimeFrametoResolveContingency" xlink:label="loc_pnw_LossContingencyEstimatedTimeFrametoResolveContingency_D4E7A2AC722135866896EB5E72829C3B" xlink:type="locator"/>

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<link:label id="lab_pnw_CleanAirActCitizenLawsuitAbstract_B00CD40453172E91B6F1EB5E7282204D_terseLabel_en-US" xlink:label="lab_pnw_CleanAirActCitizenLawsuitAbstract_B00CD40453172E91B6F1EB5E7282204D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Clean Air Act Citizen Lawsuit </link:label>

<link:label id="lab_pnw_CleanAirActCitizenLawsuitAbstract_B00CD40453172E91B6F1EB5E7282204D_label_en-US" xlink:label="lab_pnw_CleanAirActCitizenLawsuitAbstract_B00CD40453172E91B6F1EB5E7282204D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Clean Air Act Citizen Lawsuit [Abstract] </link:label>

<link:label id="lab_pnw_CleanAirActCitizenLawsuitAbstract_B00CD40453172E91B6F1EB5E7282204D_documentation_en-US" xlink:label="lab_pnw_CleanAirActCitizenLawsuitAbstract_B00CD40453172E91B6F1EB5E7282204D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Clean Air Act Citizen Lawsuit [Abstract] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_CleanAirActCitizenLawsuitAbstract" xlink:label="loc_pnw_CleanAirActCitizenLawsuitAbstract_B00CD40453172E91B6F1EB5E7282204D" xlink:type="locator"/>

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<link:label id="lab_pnw_LossContingencyNumberofUnits_F347C88232EB3122B964EB5E7282AAB9_terseLabel_en-US" xlink:label="lab_pnw_LossContingencyNumberofUnits_F347C88232EB3122B964EB5E7282AAB9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loss contingency, number of units </link:label>

<link:label id="lab_pnw_LossContingencyNumberofUnits_F347C88232EB3122B964EB5E7282AAB9_label_en-US" xlink:label="lab_pnw_LossContingencyNumberofUnits_F347C88232EB3122B964EB5E7282AAB9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss Contingency, Number of Units </link:label>

<link:label id="lab_pnw_LossContingencyNumberofUnits_F347C88232EB3122B964EB5E7282AAB9_documentation_en-US" xlink:label="lab_pnw_LossContingencyNumberofUnits_F347C88232EB3122B964EB5E7282AAB9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Loss Contingency, Number of Units </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LossContingencyNumberofUnits" xlink:label="loc_pnw_LossContingencyNumberofUnits_F347C88232EB3122B964EB5E7282AAB9" xlink:type="locator"/>

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<link:label id="lab_pnw_LossContingencyCivilPenaltyAmount_8D05815190BF4C0D4149EB5E7282A95C_terseLabel_en-US" xlink:label="lab_pnw_LossContingencyCivilPenaltyAmount_8D05815190BF4C0D4149EB5E7282A95C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loss contingency, civil penalty amount </link:label>

<link:label id="lab_pnw_LossContingencyCivilPenaltyAmount_8D05815190BF4C0D4149EB5E7282A95C_label_en-US" xlink:label="lab_pnw_LossContingencyCivilPenaltyAmount_8D05815190BF4C0D4149EB5E7282A95C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss Contingency, Civil Penalty Amount </link:label>

<link:label id="lab_pnw_LossContingencyCivilPenaltyAmount_8D05815190BF4C0D4149EB5E7282A95C_documentation_en-US" xlink:label="lab_pnw_LossContingencyCivilPenaltyAmount_8D05815190BF4C0D4149EB5E7282A95C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Loss Contingency, Civil Penalty Amount </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LossContingencyCivilPenaltyAmount" xlink:label="loc_pnw_LossContingencyCivilPenaltyAmount_8D05815190BF4C0D4149EB5E7282A95C" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LettersOfCreditOutstandingAmount_3C98A3E2F5AEE3EFE3F3EB5E72829577_terseLabel_en-US" xlink:label="lab_us-gaap_LettersOfCreditOutstandingAmount_3C98A3E2F5AEE3EFE3F3EB5E72829577" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Outstanding letters of credit </link:label>

<link:label id="lab_us-gaap_LettersOfCreditOutstandingAmount_3C98A3E2F5AEE3EFE3F3EB5E72829577_label_en-US" xlink:label="lab_us-gaap_LettersOfCreditOutstandingAmount_3C98A3E2F5AEE3EFE3F3EB5E72829577" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Letters of Credit Outstanding, Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LettersOfCreditOutstandingAmount" xlink:label="loc_us-gaap_LettersOfCreditOutstandingAmount_3C98A3E2F5AEE3EFE3F3EB5E72829577" xlink:type="locator"/>

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<link:label id="lab_pnw_LitigationSettlementPercentofSettlement_70CB0390D6CB422B1E69EB5E7282D325_terseLabel_en-US" xlink:label="lab_pnw_LitigationSettlementPercentofSettlement_70CB0390D6CB422B1E69EB5E7282D325" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Litigation settlement, percent of settlement </link:label>

<link:label id="lab_pnw_LitigationSettlementPercentofSettlement_70CB0390D6CB422B1E69EB5E7282D325_label_en-US" xlink:label="lab_pnw_LitigationSettlementPercentofSettlement_70CB0390D6CB422B1E69EB5E7282D325" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Litigation Settlement, Percent of Settlement </link:label>

<link:label id="lab_pnw_LitigationSettlementPercentofSettlement_70CB0390D6CB422B1E69EB5E7282D325_documentation_en-US" xlink:label="lab_pnw_LitigationSettlementPercentofSettlement_70CB0390D6CB422B1E69EB5E7282D325" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Litigation Settlement, Percent of Settlement </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LitigationSettlementPercentofSettlement" xlink:label="loc_pnw_LitigationSettlementPercentofSettlement_70CB0390D6CB422B1E69EB5E7282D325" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LongTermDebtTextBlock_B6B1073CE9AE1426224D91C0277C10D9_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtTextBlock_B6B1073CE9AE1426224D91C0277C10D9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Long-Term Debt and Liquidity Matters </link:label>

<link:label id="lab_us-gaap_LongTermDebtTextBlock_B6B1073CE9AE1426224D91C0277C10D9_label_en-US" xlink:label="lab_us-gaap_LongTermDebtTextBlock_B6B1073CE9AE1426224D91C0277C10D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtTextBlock" xlink:label="loc_us-gaap_LongTermDebtTextBlock_B6B1073CE9AE1426224D91C0277C10D9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtTextBlock_B6B1073CE9AE1426224D91C0277C10D9" xlink:to="lab_us-gaap_LongTermDebtTextBlock_B6B1073CE9AE1426224D91C0277C10D9" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock_2BFBB0179A67F112519CA858C2A4120B_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock_2BFBB0179A67F112519CA858C2A4120B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of unrecognized tax benefits roll forward </link:label>

<link:label id="lab_us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock_2BFBB0179A67F112519CA858C2A4120B_label_en-US" xlink:label="lab_us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock_2BFBB0179A67F112519CA858C2A4120B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock_2BFBB0179A67F112519CA858C2A4120B" xlink:type="locator"/>

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<link:label id="lab_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_90A53E8A4B0879BB882CA858C2A4B0A7_terseLabel_en-US" xlink:label="lab_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_90A53E8A4B0879BB882CA858C2A4B0A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Summary of unrecognized tax benefits </link:label>

<link:label id="lab_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_90A53E8A4B0879BB882CA858C2A4B0A7_label_en-US" xlink:label="lab_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_90A53E8A4B0879BB882CA858C2A4B0A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Summary of Income Tax Contingencies [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SummaryOfIncomeTaxContingenciesTextBlock" xlink:label="loc_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_90A53E8A4B0879BB882CA858C2A4B0A7" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_DEC4D36B14B5DF333DD8A858C2A4B50B_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_DEC4D36B14B5DF333DD8A858C2A4B50B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Components of income tax expense </link:label>

<link:label id="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_DEC4D36B14B5DF333DD8A858C2A4B50B_label_en-US" xlink:label="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_DEC4D36B14B5DF333DD8A858C2A4B50B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_DEC4D36B14B5DF333DD8A858C2A4B50B" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_6EBAA2BD0B4073D93867A858C2A440CE_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_6EBAA2BD0B4073D93867A858C2A440CE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Comparison of pretax income from continuing operations at the federal income tax rate to income tax expense - continuing operations </link:label>

<link:label id="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_6EBAA2BD0B4073D93867A858C2A440CE_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_6EBAA2BD0B4073D93867A858C2A440CE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_6EBAA2BD0B4073D93867A858C2A440CE" xlink:type="locator"/>

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<link:label id="lab_pnw_ScheduleOfClassificationOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_5B26A191163AB5BD0A06A858C2A4BC8B_terseLabel_en-US" xlink:label="lab_pnw_ScheduleOfClassificationOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_5B26A191163AB5BD0A06A858C2A4BC8B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net deferred income tax liability recognized on the Consolidated Balance Sheets </link:label>

<link:label id="lab_pnw_ScheduleOfClassificationOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_5B26A191163AB5BD0A06A858C2A4BC8B_label_en-US" xlink:label="lab_pnw_ScheduleOfClassificationOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_5B26A191163AB5BD0A06A858C2A4BC8B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Classification of Deferred Tax Assets and Liabilities [Table Text Block] </link:label>

<link:label id="lab_pnw_ScheduleOfClassificationOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_5B26A191163AB5BD0A06A858C2A4BC8B_documentation_en-US" xlink:label="lab_pnw_ScheduleOfClassificationOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_5B26A191163AB5BD0A06A858C2A4BC8B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Tabular disclosure of classification of deferred tax assets and liabilities recognized in the entity's statement of financial position. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ScheduleOfClassificationOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:label="loc_pnw_ScheduleOfClassificationOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_5B26A191163AB5BD0A06A858C2A4BC8B" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_8B103E4E27169C5DC3CFA858C2A46769_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_8B103E4E27169C5DC3CFA858C2A46769" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Components of the net deferred income tax liability </link:label>

<link:label id="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_8B103E4E27169C5DC3CFA858C2A46769_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_8B103E4E27169C5DC3CFA858C2A46769" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Deferred Tax Assets and Liabilities [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_8B103E4E27169C5DC3CFA858C2A46769" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FairValueDisclosuresAbstract_FFD9F25A745D52A8D40DCC7A0FD33150_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract_FFD9F25A745D52A8D40DCC7A0FD33150" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Disclosures [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="loc_us-gaap_FairValueDisclosuresAbstract_FFD9F25A745D52A8D40DCC7A0FD33150" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresAbstract_FFD9F25A745D52A8D40DCC7A0FD33150" xlink:to="lab_us-gaap_FairValueDisclosuresAbstract_FFD9F25A745D52A8D40DCC7A0FD33150" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationTable_45284268F81418D1BDA9CC7A0FD3C76C_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationTable_45284268F81418D1BDA9CC7A0FD3C76C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Liabilities, Quantitative Information [Table] </link:label>

<link:label id="lab_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationTable_45284268F81418D1BDA9CC7A0FD3C76C_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationTable_45284268F81418D1BDA9CC7A0FD3C76C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Liabilities, Quantitative Information [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLiabilitiesQuantitativeInformationTable" xlink:label="loc_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationTable_45284268F81418D1BDA9CC7A0FD3C76C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationTable_45284268F81418D1BDA9CC7A0FD3C76C" xlink:to="lab_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationTable_45284268F81418D1BDA9CC7A0FD3C76C" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueByLiabilityClassAxis_A5B7B788D814CB533301CC7A0FD397B3_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByLiabilityClassAxis_A5B7B788D814CB533301CC7A0FD397B3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Liability Class [Axis] </link:label>

<link:label id="lab_us-gaap_FairValueByLiabilityClassAxis_A5B7B788D814CB533301CC7A0FD397B3_label_en-US" xlink:label="lab_us-gaap_FairValueByLiabilityClassAxis_A5B7B788D814CB533301CC7A0FD397B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liability Class [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByLiabilityClassAxis" xlink:label="loc_us-gaap_FairValueByLiabilityClassAxis_A5B7B788D814CB533301CC7A0FD397B3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByLiabilityClassAxis_A5B7B788D814CB533301CC7A0FD397B3" xlink:to="lab_us-gaap_FairValueByLiabilityClassAxis_A5B7B788D814CB533301CC7A0FD397B3" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_1D42667E56C2D83701D1CC7A0FD438AB_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_1D42667E56C2D83701D1CC7A0FD438AB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value by Liability Class [Domain] </link:label>

<link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_1D42667E56C2D83701D1CC7A0FD438AB_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_1D42667E56C2D83701D1CC7A0FD438AB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value by Liability Class [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_1D42667E56C2D83701D1CC7A0FD438AB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_1D42667E56C2D83701D1CC7A0FD438AB" xlink:to="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_1D42667E56C2D83701D1CC7A0FD438AB" xlink:type="arc"/>

<link:label id="lab_pnw_ElectricityContractsMember_CA430E0728D5B8E95CE7CC7A0FD443DD_verboseLabel_en-US" xlink:label="lab_pnw_ElectricityContractsMember_CA430E0728D5B8E95CE7CC7A0FD443DD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Electricity forward contracts </link:label>

<link:label id="lab_pnw_ElectricityContractsMember_CA430E0728D5B8E95CE7CC7A0FD443DD_label_en-US" xlink:label="lab_pnw_ElectricityContractsMember_CA430E0728D5B8E95CE7CC7A0FD443DD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Electricity Contracts [Member] </link:label>

<link:label id="lab_pnw_ElectricityContractsMember_CA430E0728D5B8E95CE7CC7A0FD443DD_documentation_en-US" xlink:label="lab_pnw_ElectricityContractsMember_CA430E0728D5B8E95CE7CC7A0FD443DD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents derivative instruments with primary underlying risk tied to electricity contracts. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ElectricityContractsMember" xlink:label="loc_pnw_ElectricityContractsMember_CA430E0728D5B8E95CE7CC7A0FD443DD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ElectricityContractsMember_CA430E0728D5B8E95CE7CC7A0FD443DD" xlink:to="lab_pnw_ElectricityContractsMember_CA430E0728D5B8E95CE7CC7A0FD443DD" xlink:type="arc"/>

<link:label id="lab_us-gaap_CommodityOptionMember_76CA235920D61D46C883CC7A0FD409A5_terseLabel_en-US" xlink:label="lab_us-gaap_CommodityOptionMember_76CA235920D61D46C883CC7A0FD409A5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Option Contracts </link:label>

<link:label id="lab_us-gaap_CommodityOptionMember_76CA235920D61D46C883CC7A0FD409A5_label_en-US" xlink:label="lab_us-gaap_CommodityOptionMember_76CA235920D61D46C883CC7A0FD409A5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commodity Option [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommodityOptionMember" xlink:label="loc_us-gaap_CommodityOptionMember_76CA235920D61D46C883CC7A0FD409A5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommodityOptionMember_76CA235920D61D46C883CC7A0FD409A5" xlink:to="lab_us-gaap_CommodityOptionMember_76CA235920D61D46C883CC7A0FD409A5" xlink:type="arc"/>

<link:label id="lab_pnw_NaturalGasContractsMember_AA062998999261B7224BCC7A0FD4F104_verboseLabel_en-US" xlink:label="lab_pnw_NaturalGasContractsMember_AA062998999261B7224BCC7A0FD4F104" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Natural gas forward contracts </link:label>

<link:label id="lab_pnw_NaturalGasContractsMember_AA062998999261B7224BCC7A0FD4F104_label_en-US" xlink:label="lab_pnw_NaturalGasContractsMember_AA062998999261B7224BCC7A0FD4F104" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Natural Gas Contracts [Member] </link:label>

<link:label id="lab_pnw_NaturalGasContractsMember_AA062998999261B7224BCC7A0FD4F104_documentation_en-US" xlink:label="lab_pnw_NaturalGasContractsMember_AA062998999261B7224BCC7A0FD4F104" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents derivative instruments with primary underlying risk tied to natural gas contracts. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NaturalGasContractsMember" xlink:label="loc_pnw_NaturalGasContractsMember_AA062998999261B7224BCC7A0FD4F104" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NaturalGasContractsMember_AA062998999261B7224BCC7A0FD4F104" xlink:to="lab_pnw_NaturalGasContractsMember_AA062998999261B7224BCC7A0FD4F104" xlink:type="arc"/>

<link:label id="lab_us-gaap_WeightedAverageMember_92133025134D8E2F0B1ACC7A0FD4ABF2_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageMember_92133025134D8E2F0B1ACC7A0FD4ABF2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Weighted Average </link:label>

<link:label id="lab_us-gaap_WeightedAverageMember_92133025134D8E2F0B1ACC7A0FD4ABF2_label_en-US" xlink:label="lab_us-gaap_WeightedAverageMember_92133025134D8E2F0B1ACC7A0FD4ABF2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Weighted Average [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageMember" xlink:label="loc_us-gaap_WeightedAverageMember_92133025134D8E2F0B1ACC7A0FD4ABF2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageMember_92133025134D8E2F0B1ACC7A0FD4ABF2" xlink:to="lab_us-gaap_WeightedAverageMember_92133025134D8E2F0B1ACC7A0FD4ABF2" xlink:type="arc"/>

<link:label id="lab_us-gaap_ValuationTechniqueAxis_8A98D6C568181D6C5ED5CC7A0FD4EF72_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationTechniqueAxis_8A98D6C568181D6C5ED5CC7A0FD4EF72" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Valuation Technique [Axis] </link:label>

<link:label id="lab_us-gaap_ValuationTechniqueAxis_8A98D6C568181D6C5ED5CC7A0FD4EF72_label_en-US" xlink:label="lab_us-gaap_ValuationTechniqueAxis_8A98D6C568181D6C5ED5CC7A0FD4EF72" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Valuation Technique [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ValuationTechniqueAxis" xlink:label="loc_us-gaap_ValuationTechniqueAxis_8A98D6C568181D6C5ED5CC7A0FD4EF72" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ValuationTechniqueAxis_8A98D6C568181D6C5ED5CC7A0FD4EF72" xlink:to="lab_us-gaap_ValuationTechniqueAxis_8A98D6C568181D6C5ED5CC7A0FD4EF72" xlink:type="arc"/>

<link:label id="lab_us-gaap_ValuationTechniqueDomain_D3C5638C06CEA10B1343CC7A0FD4EF6F_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationTechniqueDomain_D3C5638C06CEA10B1343CC7A0FD4EF6F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Valuation Technique [Domain] </link:label>

<link:label id="lab_us-gaap_ValuationTechniqueDomain_D3C5638C06CEA10B1343CC7A0FD4EF6F_label_en-US" xlink:label="lab_us-gaap_ValuationTechniqueDomain_D3C5638C06CEA10B1343CC7A0FD4EF6F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Valuation Technique [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ValuationTechniqueDomain" xlink:label="loc_us-gaap_ValuationTechniqueDomain_D3C5638C06CEA10B1343CC7A0FD4EF6F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ValuationTechniqueDomain_D3C5638C06CEA10B1343CC7A0FD4EF6F" xlink:to="lab_us-gaap_ValuationTechniqueDomain_D3C5638C06CEA10B1343CC7A0FD4EF6F" xlink:type="arc"/>

<link:label id="lab_us-gaap_MarketApproachValuationTechniqueMember_3250668664C01893AEB3CC7A0FD40658_verboseLabel_en-US" xlink:label="lab_us-gaap_MarketApproachValuationTechniqueMember_3250668664C01893AEB3CC7A0FD40658" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Discounted cash flows </link:label>

<link:label id="lab_us-gaap_MarketApproachValuationTechniqueMember_3250668664C01893AEB3CC7A0FD40658_label_en-US" xlink:label="lab_us-gaap_MarketApproachValuationTechniqueMember_3250668664C01893AEB3CC7A0FD40658" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Market Approach Valuation Technique [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MarketApproachValuationTechniqueMember" xlink:label="loc_us-gaap_MarketApproachValuationTechniqueMember_3250668664C01893AEB3CC7A0FD40658" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MarketApproachValuationTechniqueMember_3250668664C01893AEB3CC7A0FD40658" xlink:to="lab_us-gaap_MarketApproachValuationTechniqueMember_3250668664C01893AEB3CC7A0FD40658" xlink:type="arc"/>

<link:label id="lab_pnw_OptionModelValuationTechniqueMember_CA71E7B34591917614A0CC7A0FD4AB10_terseLabel_en-US" xlink:label="lab_pnw_OptionModelValuationTechniqueMember_CA71E7B34591917614A0CC7A0FD4AB10" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Option model </link:label>

<link:label id="lab_pnw_OptionModelValuationTechniqueMember_CA71E7B34591917614A0CC7A0FD4AB10_label_en-US" xlink:label="lab_pnw_OptionModelValuationTechniqueMember_CA71E7B34591917614A0CC7A0FD4AB10" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Option Model Valuation Technique [Member] </link:label>

<link:label id="lab_pnw_OptionModelValuationTechniqueMember_CA71E7B34591917614A0CC7A0FD4AB10_documentation_en-US" xlink:label="lab_pnw_OptionModelValuationTechniqueMember_CA71E7B34591917614A0CC7A0FD4AB10" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Option model valuation technique used to measure fair value. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_OptionModelValuationTechniqueMember" xlink:label="loc_pnw_OptionModelValuationTechniqueMember_CA71E7B34591917614A0CC7A0FD4AB10" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_OptionModelValuationTechniqueMember_CA71E7B34591917614A0CC7A0FD4AB10" xlink:to="lab_pnw_OptionModelValuationTechniqueMember_CA71E7B34591917614A0CC7A0FD4AB10" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationLineItems_387640BCF6073EDEA4E8CC7A0FD41BDC_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationLineItems_387640BCF6073EDEA4E8CC7A0FD41BDC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Information regarding the entity's internally developed significant unobservable inputs used to value its level 3 instruments </link:label>

<link:label id="lab_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationLineItems_387640BCF6073EDEA4E8CC7A0FD41BDC_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationLineItems_387640BCF6073EDEA4E8CC7A0FD41BDC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Liabilities, Quantitative Information [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLiabilitiesQuantitativeInformationLineItems" xlink:label="loc_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationLineItems_387640BCF6073EDEA4E8CC7A0FD41BDC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationLineItems_387640BCF6073EDEA4E8CC7A0FD41BDC" xlink:to="lab_us-gaap_FairValueInputsLiabilitiesQuantitativeInformationLineItems_387640BCF6073EDEA4E8CC7A0FD41BDC" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetsFairValueDisclosure_9354FC6BFE2A21EEF423CC7A0FD4CE11_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure_9354FC6BFE2A21EEF423CC7A0FD4CE11" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Assets </link:label>

<link:label id="lab_us-gaap_AssetsFairValueDisclosure_9354FC6BFE2A21EEF423CC7A0FD4CE11_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure_9354FC6BFE2A21EEF423CC7A0FD4CE11" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets, Fair Value Disclosure </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="loc_us-gaap_AssetsFairValueDisclosure_9354FC6BFE2A21EEF423CC7A0FD4CE11" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_9354FC6BFE2A21EEF423CC7A0FD4CE11" xlink:to="lab_us-gaap_AssetsFairValueDisclosure_9354FC6BFE2A21EEF423CC7A0FD4CE11" xlink:type="arc"/>

<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosure_DFFC63298E6E0C3BF41DCC7A0FD45475_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosure_DFFC63298E6E0C3BF41DCC7A0FD45475" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities </link:label>

<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosure_DFFC63298E6E0C3BF41DCC7A0FD45475_label_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosure_DFFC63298E6E0C3BF41DCC7A0FD45475" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financial and Nonfinancial Liabilities, Fair Value Disclosure </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosure" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosure_DFFC63298E6E0C3BF41DCC7A0FD45475" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosure_DFFC63298E6E0C3BF41DCC7A0FD45475" xlink:to="lab_us-gaap_LiabilitiesFairValueDisclosure_DFFC63298E6E0C3BF41DCC7A0FD45475" xlink:type="arc"/>

<link:label id="lab_pnw_FairValueInputsElectricityForwardPricePerMegawattHours_6F2E937E1D680C611084CC7A0FD41E43_terseLabel_en-US" xlink:label="lab_pnw_FairValueInputsElectricityForwardPricePerMegawattHours_6F2E937E1D680C611084CC7A0FD41E43" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Electricity forward price (per MWh) </link:label>

<link:label id="lab_pnw_FairValueInputsElectricityForwardPricePerMegawattHours_6F2E937E1D680C611084CC7A0FD41E43_label_en-US" xlink:label="lab_pnw_FairValueInputsElectricityForwardPricePerMegawattHours_6F2E937E1D680C611084CC7A0FD41E43" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Electricity Forward Price Per Megawatt Hours </link:label>

<link:label id="lab_pnw_FairValueInputsElectricityForwardPricePerMegawattHours_6F2E937E1D680C611084CC7A0FD41E43_documentation_en-US" xlink:label="lab_pnw_FairValueInputsElectricityForwardPricePerMegawattHours_6F2E937E1D680C611084CC7A0FD41E43" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the electricity forward price per Megawatt Hours, used as an input to measure fair value. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FairValueInputsElectricityForwardPricePerMegawattHours" xlink:label="loc_pnw_FairValueInputsElectricityForwardPricePerMegawattHours_6F2E937E1D680C611084CC7A0FD41E43" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FairValueInputsElectricityForwardPricePerMegawattHours_6F2E937E1D680C611084CC7A0FD41E43" xlink:to="lab_pnw_FairValueInputsElectricityForwardPricePerMegawattHours_6F2E937E1D680C611084CC7A0FD41E43" xlink:type="arc"/>

<link:label id="lab_pnw_FairValueInputsImpliedElectricityVolatilities_8117B6A1DBB10C808411CC7A0FD4646B_terseLabel_en-US" xlink:label="lab_pnw_FairValueInputsImpliedElectricityVolatilities_8117B6A1DBB10C808411CC7A0FD4646B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Implied electricity price volatilities (as a percent) </link:label>

<link:label id="lab_pnw_FairValueInputsImpliedElectricityVolatilities_8117B6A1DBB10C808411CC7A0FD4646B_label_en-US" xlink:label="lab_pnw_FairValueInputsImpliedElectricityVolatilities_8117B6A1DBB10C808411CC7A0FD4646B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Implied Electricity Volatilities </link:label>

<link:label id="lab_pnw_FairValueInputsImpliedElectricityVolatilities_8117B6A1DBB10C808411CC7A0FD4646B_documentation_en-US" xlink:label="lab_pnw_FairValueInputsImpliedElectricityVolatilities_8117B6A1DBB10C808411CC7A0FD4646B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the percentage of implied electricity volatilities. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FairValueInputsImpliedElectricityVolatilities" xlink:label="loc_pnw_FairValueInputsImpliedElectricityVolatilities_8117B6A1DBB10C808411CC7A0FD4646B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FairValueInputsImpliedElectricityVolatilities_8117B6A1DBB10C808411CC7A0FD4646B" xlink:to="lab_pnw_FairValueInputsImpliedElectricityVolatilities_8117B6A1DBB10C808411CC7A0FD4646B" xlink:type="arc"/>

<link:label id="lab_pnw_FairValueInputsImpliedGasPriceVolatilities_B03B4D9716AAB25268F2CC7A0FD55A8D_terseLabel_en-US" xlink:label="lab_pnw_FairValueInputsImpliedGasPriceVolatilities_B03B4D9716AAB25268F2CC7A0FD55A8D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Implied natural gas price volatilities (as a percent) </link:label>

<link:label id="lab_pnw_FairValueInputsImpliedGasPriceVolatilities_B03B4D9716AAB25268F2CC7A0FD55A8D_label_en-US" xlink:label="lab_pnw_FairValueInputsImpliedGasPriceVolatilities_B03B4D9716AAB25268F2CC7A0FD55A8D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Implied Gas Price Volatilities </link:label>

<link:label id="lab_pnw_FairValueInputsImpliedGasPriceVolatilities_B03B4D9716AAB25268F2CC7A0FD55A8D_documentation_en-US" xlink:label="lab_pnw_FairValueInputsImpliedGasPriceVolatilities_B03B4D9716AAB25268F2CC7A0FD55A8D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the percentage of implied electricity natural gas price volatilities. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FairValueInputsImpliedGasPriceVolatilities" xlink:label="loc_pnw_FairValueInputsImpliedGasPriceVolatilities_B03B4D9716AAB25268F2CC7A0FD55A8D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FairValueInputsImpliedGasPriceVolatilities_B03B4D9716AAB25268F2CC7A0FD55A8D" xlink:to="lab_pnw_FairValueInputsImpliedGasPriceVolatilities_B03B4D9716AAB25268F2CC7A0FD55A8D" xlink:type="arc"/>

<link:label id="lab_pnw_FairValueInputsGasForwardPricePerMetricMillionBritishThermalUnits_DC83295512051D847B5FCC7A0FD4CDE9_terseLabel_en-US" xlink:label="lab_pnw_FairValueInputsGasForwardPricePerMetricMillionBritishThermalUnits_DC83295512051D847B5FCC7A0FD4CDE9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Natural gas forward price (per MMbtu) </link:label>

<link:label id="lab_pnw_FairValueInputsGasForwardPricePerMetricMillionBritishThermalUnits_DC83295512051D847B5FCC7A0FD4CDE9_label_en-US" xlink:label="lab_pnw_FairValueInputsGasForwardPricePerMetricMillionBritishThermalUnits_DC83295512051D847B5FCC7A0FD4CDE9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Gas Forward Price Per Metric Million British Thermal Units </link:label>

<link:label id="lab_pnw_FairValueInputsGasForwardPricePerMetricMillionBritishThermalUnits_DC83295512051D847B5FCC7A0FD4CDE9_documentation_en-US" xlink:label="lab_pnw_FairValueInputsGasForwardPricePerMetricMillionBritishThermalUnits_DC83295512051D847B5FCC7A0FD4CDE9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the gas price per Metric Million British Thermal Units, used as an input to measure fair value. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FairValueInputsGasForwardPricePerMetricMillionBritishThermalUnits" xlink:label="loc_pnw_FairValueInputsGasForwardPricePerMetricMillionBritishThermalUnits_DC83295512051D847B5FCC7A0FD4CDE9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FairValueInputsGasForwardPricePerMetricMillionBritishThermalUnits_DC83295512051D847B5FCC7A0FD4CDE9" xlink:to="lab_pnw_FairValueInputsGasForwardPricePerMetricMillionBritishThermalUnits_DC83295512051D847B5FCC7A0FD4CDE9" xlink:type="arc"/>

<link:label id="lab_us-gaap_SalesRevenueNet_66F0676BA03D35B41CFECCCDECB46301_verboseLabel_en-US" xlink:label="lab_us-gaap_SalesRevenueNet_66F0676BA03D35B41CFECCCDECB46301" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Operating revenues </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SalesRevenueNet" xlink:label="loc_us-gaap_SalesRevenueNet_66F0676BA03D35B41CFECCCDECB46301" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SalesRevenueNet_66F0676BA03D35B41CFECCCDECB46301" xlink:to="lab_us-gaap_SalesRevenueNet_66F0676BA03D35B41CFECCCDECB46301" xlink:type="arc"/>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantInterestsTable_881E16E5F31C24E9F76B5FFAECDF367D_terseLabel_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantInterestsTable_881E16E5F31C24E9F76B5FFAECDF367D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Jointly Owned Utility Plant Interests [Table] </link:label>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantInterestsTable_881E16E5F31C24E9F76B5FFAECDF367D_label_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantInterestsTable_881E16E5F31C24E9F76B5FFAECDF367D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Jointly Owned Utility Plant Interests [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_JointlyOwnedUtilityPlantInterestsTable" xlink:label="loc_us-gaap_JointlyOwnedUtilityPlantInterestsTable_881E16E5F31C24E9F76B5FFAECDF367D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_JointlyOwnedUtilityPlantInterestsTable_881E16E5F31C24E9F76B5FFAECDF367D" xlink:to="lab_us-gaap_JointlyOwnedUtilityPlantInterestsTable_881E16E5F31C24E9F76B5FFAECDF367D" xlink:type="arc"/>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantAxis_9A0F3EF501A4A48B1AEA5FFAECDFD023_terseLabel_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantAxis_9A0F3EF501A4A48B1AEA5FFAECDFD023" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Jointly Owned Utility Plant [Axis] </link:label>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantAxis_9A0F3EF501A4A48B1AEA5FFAECDFD023_label_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantAxis_9A0F3EF501A4A48B1AEA5FFAECDFD023" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Jointly Owned Utility Plant [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_JointlyOwnedUtilityPlantAxis" xlink:label="loc_us-gaap_JointlyOwnedUtilityPlantAxis_9A0F3EF501A4A48B1AEA5FFAECDFD023" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_JointlyOwnedUtilityPlantAxis_9A0F3EF501A4A48B1AEA5FFAECDFD023" xlink:to="lab_us-gaap_JointlyOwnedUtilityPlantAxis_9A0F3EF501A4A48B1AEA5FFAECDFD023" xlink:type="arc"/>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantDomain_33B2B3FAB910BAC2B34D5FFAECDFB421_terseLabel_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantDomain_33B2B3FAB910BAC2B34D5FFAECDFB421" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Jointly Owned Utility Plant [Domain] </link:label>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantDomain_33B2B3FAB910BAC2B34D5FFAECDFB421_label_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantDomain_33B2B3FAB910BAC2B34D5FFAECDFB421" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Jointly Owned Utility Plant [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_JointlyOwnedUtilityPlantDomain" xlink:label="loc_us-gaap_JointlyOwnedUtilityPlantDomain_33B2B3FAB910BAC2B34D5FFAECDFB421" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_JointlyOwnedUtilityPlantDomain_33B2B3FAB910BAC2B34D5FFAECDFB421" xlink:to="lab_us-gaap_JointlyOwnedUtilityPlantDomain_33B2B3FAB910BAC2B34D5FFAECDFB421" xlink:type="arc"/>

<link:label id="lab_pnw_PaloVerdeUnits1And3Member_0E83FC7CA42D6EF5A8285FFAECDFB7DF_terseLabel_en-US" xlink:label="lab_pnw_PaloVerdeUnits1And3Member_0E83FC7CA42D6EF5A8285FFAECDFB7DF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde Units 1 and 3 </link:label>

<link:label id="lab_pnw_PaloVerdeUnits1And3Member_0E83FC7CA42D6EF5A8285FFAECDFB7DF_label_en-US" xlink:label="lab_pnw_PaloVerdeUnits1And3Member_0E83FC7CA42D6EF5A8285FFAECDFB7DF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Palo Verde Units 1 and 3 [Member] </link:label>

<link:label id="lab_pnw_PaloVerdeUnits1And3Member_0E83FC7CA42D6EF5A8285FFAECDFB7DF_documentation_en-US" xlink:label="lab_pnw_PaloVerdeUnits1And3Member_0E83FC7CA42D6EF5A8285FFAECDFB7DF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Palo Verde Units 1 and 3, a jointly-owned generating facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PaloVerdeUnits1And3Member" xlink:label="loc_pnw_PaloVerdeUnits1And3Member_0E83FC7CA42D6EF5A8285FFAECDFB7DF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PaloVerdeUnits1And3Member_0E83FC7CA42D6EF5A8285FFAECDFB7DF" xlink:to="lab_pnw_PaloVerdeUnits1And3Member_0E83FC7CA42D6EF5A8285FFAECDFB7DF" xlink:type="arc"/>

<link:label id="lab_pnw_PaloVerdeUnit2Member_3BD01CD24268BCB2ABC65FFAECDFE48D_terseLabel_en-US" xlink:label="lab_pnw_PaloVerdeUnit2Member_3BD01CD24268BCB2ABC65FFAECDFE48D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde Unit 2 </link:label>

<link:label id="lab_pnw_PaloVerdeUnit2Member_3BD01CD24268BCB2ABC65FFAECDFE48D_label_en-US" xlink:label="lab_pnw_PaloVerdeUnit2Member_3BD01CD24268BCB2ABC65FFAECDFE48D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Palo Verde Unit 2 [Member] </link:label>

<link:label id="lab_pnw_PaloVerdeUnit2Member_3BD01CD24268BCB2ABC65FFAECDFE48D_documentation_en-US" xlink:label="lab_pnw_PaloVerdeUnit2Member_3BD01CD24268BCB2ABC65FFAECDFE48D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Palo Verde Unit 2, a jointly-owned generating facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PaloVerdeUnit2Member" xlink:label="loc_pnw_PaloVerdeUnit2Member_3BD01CD24268BCB2ABC65FFAECDFE48D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PaloVerdeUnit2Member_3BD01CD24268BCB2ABC65FFAECDFE48D" xlink:to="lab_pnw_PaloVerdeUnit2Member_3BD01CD24268BCB2ABC65FFAECDFE48D" xlink:type="arc"/>

<link:label id="lab_pnw_PaloVerdeCommonMember_BB9AB96185FCFE05C7C95FFAECDF28ED_terseLabel_en-US" xlink:label="lab_pnw_PaloVerdeCommonMember_BB9AB96185FCFE05C7C95FFAECDF28ED" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde Common </link:label>

<link:label id="lab_pnw_PaloVerdeCommonMember_BB9AB96185FCFE05C7C95FFAECDF28ED_label_en-US" xlink:label="lab_pnw_PaloVerdeCommonMember_BB9AB96185FCFE05C7C95FFAECDF28ED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Palo Verde Common [Member] </link:label>

<link:label id="lab_pnw_PaloVerdeCommonMember_BB9AB96185FCFE05C7C95FFAECDF28ED_documentation_en-US" xlink:label="lab_pnw_PaloVerdeCommonMember_BB9AB96185FCFE05C7C95FFAECDF28ED" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Palo Verde Common, a jointly-owned generating facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PaloVerdeCommonMember" xlink:label="loc_pnw_PaloVerdeCommonMember_BB9AB96185FCFE05C7C95FFAECDF28ED" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PaloVerdeCommonMember_BB9AB96185FCFE05C7C95FFAECDF28ED" xlink:to="lab_pnw_PaloVerdeCommonMember_BB9AB96185FCFE05C7C95FFAECDF28ED" xlink:type="arc"/>

<link:label id="lab_pnw_PaloVerdeSaleLeasebackMember_59FAF445EBA565A45BC95FFAECDF6346_terseLabel_en-US" xlink:label="lab_pnw_PaloVerdeSaleLeasebackMember_59FAF445EBA565A45BC95FFAECDF6346" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde Sale Leaseback </link:label>

<link:label id="lab_pnw_PaloVerdeSaleLeasebackMember_59FAF445EBA565A45BC95FFAECDF6346_label_en-US" xlink:label="lab_pnw_PaloVerdeSaleLeasebackMember_59FAF445EBA565A45BC95FFAECDF6346" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Palo Verde Sale Leaseback [Member] </link:label>

<link:label id="lab_pnw_PaloVerdeSaleLeasebackMember_59FAF445EBA565A45BC95FFAECDF6346_documentation_en-US" xlink:label="lab_pnw_PaloVerdeSaleLeasebackMember_59FAF445EBA565A45BC95FFAECDF6346" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Palo Verde Sale Leaseback, a jointly-owned generating facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PaloVerdeSaleLeasebackMember" xlink:label="loc_pnw_PaloVerdeSaleLeasebackMember_59FAF445EBA565A45BC95FFAECDF6346" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PaloVerdeSaleLeasebackMember_59FAF445EBA565A45BC95FFAECDF6346" xlink:to="lab_pnw_PaloVerdeSaleLeasebackMember_59FAF445EBA565A45BC95FFAECDF6346" xlink:type="arc"/>

<link:label id="lab_pnw_FourCornersUnits4And5Member_B3D971F18141E12EC2A95FFAECDF6712_verboseLabel_en-US" xlink:label="lab_pnw_FourCornersUnits4And5Member_B3D971F18141E12EC2A95FFAECDF6712" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Four Corners Units 4, 5 and Common </link:label>

<link:label id="lab_pnw_FourCornersUnits4And5Member_B3D971F18141E12EC2A95FFAECDF6712_label_en-US" xlink:label="lab_pnw_FourCornersUnits4And5Member_B3D971F18141E12EC2A95FFAECDF6712" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Four Corners Units 4 and 5 [Member] </link:label>

<link:label id="lab_pnw_FourCornersUnits4And5Member_B3D971F18141E12EC2A95FFAECDF6712_documentation_en-US" xlink:label="lab_pnw_FourCornersUnits4And5Member_B3D971F18141E12EC2A95FFAECDF6712" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Four Corners Units 4 and 5, a jointly-owned generating facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FourCornersUnits4And5Member" xlink:label="loc_pnw_FourCornersUnits4And5Member_B3D971F18141E12EC2A95FFAECDF6712" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FourCornersUnits4And5Member_B3D971F18141E12EC2A95FFAECDF6712" xlink:to="lab_pnw_FourCornersUnits4And5Member_B3D971F18141E12EC2A95FFAECDF6712" xlink:type="arc"/>

<link:label id="lab_pnw_NavajoGeneratingStationUnits12And3Member_CEEF964D332E24E13B8B5FFAECDF3ABE_terseLabel_en-US" xlink:label="lab_pnw_NavajoGeneratingStationUnits12And3Member_CEEF964D332E24E13B8B5FFAECDF3ABE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Navajo Generating Station Units 1, 2 and 3 </link:label>

<link:label id="lab_pnw_NavajoGeneratingStationUnits12And3Member_CEEF964D332E24E13B8B5FFAECDF3ABE_label_en-US" xlink:label="lab_pnw_NavajoGeneratingStationUnits12And3Member_CEEF964D332E24E13B8B5FFAECDF3ABE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Navajo Generating Station Units 1, 2 and 3 [Member] </link:label>

<link:label id="lab_pnw_NavajoGeneratingStationUnits12And3Member_CEEF964D332E24E13B8B5FFAECDF3ABE_documentation_en-US" xlink:label="lab_pnw_NavajoGeneratingStationUnits12And3Member_CEEF964D332E24E13B8B5FFAECDF3ABE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Navajo Generating Station Units 1, 2 and 3, a jointly-owned generating facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NavajoGeneratingStationUnits12And3Member" xlink:label="loc_pnw_NavajoGeneratingStationUnits12And3Member_CEEF964D332E24E13B8B5FFAECDF3ABE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NavajoGeneratingStationUnits12And3Member_CEEF964D332E24E13B8B5FFAECDF3ABE" xlink:to="lab_pnw_NavajoGeneratingStationUnits12And3Member_CEEF964D332E24E13B8B5FFAECDF3ABE" xlink:type="arc"/>

<link:label id="lab_pnw_ChollaCommonFacilitiesMember_89B9FCA6B88D0D3A93E95FFAECDF99A9_terseLabel_en-US" xlink:label="lab_pnw_ChollaCommonFacilitiesMember_89B9FCA6B88D0D3A93E95FFAECDF99A9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cholla common facilities </link:label>

<link:label id="lab_pnw_ChollaCommonFacilitiesMember_89B9FCA6B88D0D3A93E95FFAECDF99A9_label_en-US" xlink:label="lab_pnw_ChollaCommonFacilitiesMember_89B9FCA6B88D0D3A93E95FFAECDF99A9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cholla Common Facilities [Member] </link:label>

<link:label id="lab_pnw_ChollaCommonFacilitiesMember_89B9FCA6B88D0D3A93E95FFAECDF99A9_documentation_en-US" xlink:label="lab_pnw_ChollaCommonFacilitiesMember_89B9FCA6B88D0D3A93E95FFAECDF99A9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Cholla common facilities, a jointly-owned generating facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ChollaCommonFacilitiesMember" xlink:label="loc_pnw_ChollaCommonFacilitiesMember_89B9FCA6B88D0D3A93E95FFAECDF99A9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ChollaCommonFacilitiesMember_89B9FCA6B88D0D3A93E95FFAECDF99A9" xlink:to="lab_pnw_ChollaCommonFacilitiesMember_89B9FCA6B88D0D3A93E95FFAECDF99A9" xlink:type="arc"/>

<link:label id="lab_pnw_ANPP500KVSystemMember_469D2E4FAC4A84FE629F5FFAECE03359_terseLabel_en-US" xlink:label="lab_pnw_ANPP500KVSystemMember_469D2E4FAC4A84FE629F5FFAECE03359" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> ANPP 500kV System </link:label>

<link:label id="lab_pnw_ANPP500KVSystemMember_469D2E4FAC4A84FE629F5FFAECE03359_label_en-US" xlink:label="lab_pnw_ANPP500KVSystemMember_469D2E4FAC4A84FE629F5FFAECE03359" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> ANPP 500kV System [Member] </link:label>

<link:label id="lab_pnw_ANPP500KVSystemMember_469D2E4FAC4A84FE629F5FFAECE03359_documentation_en-US" xlink:label="lab_pnw_ANPP500KVSystemMember_469D2E4FAC4A84FE629F5FFAECE03359" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents ANPP 500KV System, a jointly-owned transmission facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ANPP500KVSystemMember" xlink:label="loc_pnw_ANPP500KVSystemMember_469D2E4FAC4A84FE629F5FFAECE03359" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ANPP500KVSystemMember_469D2E4FAC4A84FE629F5FFAECE03359" xlink:to="lab_pnw_ANPP500KVSystemMember_469D2E4FAC4A84FE629F5FFAECE03359" xlink:type="arc"/>

<link:label id="lab_pnw_NavajoSouthernSystemMember_1DEEEF4BD1E8D1A9E3EE5FFAECE024A1_terseLabel_en-US" xlink:label="lab_pnw_NavajoSouthernSystemMember_1DEEEF4BD1E8D1A9E3EE5FFAECE024A1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Navajo Southern System </link:label>

<link:label id="lab_pnw_NavajoSouthernSystemMember_1DEEEF4BD1E8D1A9E3EE5FFAECE024A1_label_en-US" xlink:label="lab_pnw_NavajoSouthernSystemMember_1DEEEF4BD1E8D1A9E3EE5FFAECE024A1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Navajo Southern System [Member] </link:label>

<link:label id="lab_pnw_NavajoSouthernSystemMember_1DEEEF4BD1E8D1A9E3EE5FFAECE024A1_documentation_en-US" xlink:label="lab_pnw_NavajoSouthernSystemMember_1DEEEF4BD1E8D1A9E3EE5FFAECE024A1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Navajo Southern System, a jointly-owned transmission facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NavajoSouthernSystemMember" xlink:label="loc_pnw_NavajoSouthernSystemMember_1DEEEF4BD1E8D1A9E3EE5FFAECE024A1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NavajoSouthernSystemMember_1DEEEF4BD1E8D1A9E3EE5FFAECE024A1" xlink:to="lab_pnw_NavajoSouthernSystemMember_1DEEEF4BD1E8D1A9E3EE5FFAECE024A1" xlink:type="arc"/>

<link:label id="lab_pnw_PaloVerdeYuma500KVSystemMember_BBAD700FFCF703EB9D6F5FFAECE0921A_terseLabel_en-US" xlink:label="lab_pnw_PaloVerdeYuma500KVSystemMember_BBAD700FFCF703EB9D6F5FFAECE0921A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde - Yuma 500kV System </link:label>

<link:label id="lab_pnw_PaloVerdeYuma500KVSystemMember_BBAD700FFCF703EB9D6F5FFAECE0921A_label_en-US" xlink:label="lab_pnw_PaloVerdeYuma500KVSystemMember_BBAD700FFCF703EB9D6F5FFAECE0921A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Palo Verde Yuma 500kV System [Member] </link:label>

<link:label id="lab_pnw_PaloVerdeYuma500KVSystemMember_BBAD700FFCF703EB9D6F5FFAECE0921A_documentation_en-US" xlink:label="lab_pnw_PaloVerdeYuma500KVSystemMember_BBAD700FFCF703EB9D6F5FFAECE0921A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Palo Verde - Yuma 500KV System, a jointly-owned transmission facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PaloVerdeYuma500KVSystemMember" xlink:label="loc_pnw_PaloVerdeYuma500KVSystemMember_BBAD700FFCF703EB9D6F5FFAECE0921A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PaloVerdeYuma500KVSystemMember_BBAD700FFCF703EB9D6F5FFAECE0921A" xlink:to="lab_pnw_PaloVerdeYuma500KVSystemMember_BBAD700FFCF703EB9D6F5FFAECE0921A" xlink:type="arc"/>

<link:label id="lab_pnw_FourCornersSwitchyardsMember_5782DC17DD9469B33D9A5FFAECE02E95_terseLabel_en-US" xlink:label="lab_pnw_FourCornersSwitchyardsMember_5782DC17DD9469B33D9A5FFAECE02E95" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Four Corners Switchyards </link:label>

<link:label id="lab_pnw_FourCornersSwitchyardsMember_5782DC17DD9469B33D9A5FFAECE02E95_label_en-US" xlink:label="lab_pnw_FourCornersSwitchyardsMember_5782DC17DD9469B33D9A5FFAECE02E95" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Four Corners Switchyards [Member] </link:label>

<link:label id="lab_pnw_FourCornersSwitchyardsMember_5782DC17DD9469B33D9A5FFAECE02E95_documentation_en-US" xlink:label="lab_pnw_FourCornersSwitchyardsMember_5782DC17DD9469B33D9A5FFAECE02E95" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Four Corners Switchyards, a jointly-owned transmission facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FourCornersSwitchyardsMember" xlink:label="loc_pnw_FourCornersSwitchyardsMember_5782DC17DD9469B33D9A5FFAECE02E95" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FourCornersSwitchyardsMember_5782DC17DD9469B33D9A5FFAECE02E95" xlink:to="lab_pnw_FourCornersSwitchyardsMember_5782DC17DD9469B33D9A5FFAECE02E95" xlink:type="arc"/>

<link:label id="lab_pnw_PhoenixMeadSystemMember_E77084B3B971816692685FFAECE05FAA_terseLabel_en-US" xlink:label="lab_pnw_PhoenixMeadSystemMember_E77084B3B971816692685FFAECE05FAA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Phoenix - Mead System </link:label>

<link:label id="lab_pnw_PhoenixMeadSystemMember_E77084B3B971816692685FFAECE05FAA_label_en-US" xlink:label="lab_pnw_PhoenixMeadSystemMember_E77084B3B971816692685FFAECE05FAA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Phoenix Mead System [Member] </link:label>

<link:label id="lab_pnw_PhoenixMeadSystemMember_E77084B3B971816692685FFAECE05FAA_documentation_en-US" xlink:label="lab_pnw_PhoenixMeadSystemMember_E77084B3B971816692685FFAECE05FAA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Phoenix - Mead System, a jointly-owned transmission facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PhoenixMeadSystemMember" xlink:label="loc_pnw_PhoenixMeadSystemMember_E77084B3B971816692685FFAECE05FAA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PhoenixMeadSystemMember_E77084B3B971816692685FFAECE05FAA" xlink:to="lab_pnw_PhoenixMeadSystemMember_E77084B3B971816692685FFAECE05FAA" xlink:type="arc"/>

<link:label id="lab_pnw_PaloVerdeEstrella500KVSystemMember_554DA9CD2589DC8960A75FFAECE0E4EA_terseLabel_en-US" xlink:label="lab_pnw_PaloVerdeEstrella500KVSystemMember_554DA9CD2589DC8960A75FFAECE0E4EA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde - Estrella 500kV System </link:label>

<link:label id="lab_pnw_PaloVerdeEstrella500KVSystemMember_554DA9CD2589DC8960A75FFAECE0E4EA_label_en-US" xlink:label="lab_pnw_PaloVerdeEstrella500KVSystemMember_554DA9CD2589DC8960A75FFAECE0E4EA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Palo Verde Estrella 500kV System [Member] </link:label>

<link:label id="lab_pnw_PaloVerdeEstrella500KVSystemMember_554DA9CD2589DC8960A75FFAECE0E4EA_documentation_en-US" xlink:label="lab_pnw_PaloVerdeEstrella500KVSystemMember_554DA9CD2589DC8960A75FFAECE0E4EA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Palo Verde - Estrella 500KV System, a jointly-owned transmission facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PaloVerdeEstrella500KVSystemMember" xlink:label="loc_pnw_PaloVerdeEstrella500KVSystemMember_554DA9CD2589DC8960A75FFAECE0E4EA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PaloVerdeEstrella500KVSystemMember_554DA9CD2589DC8960A75FFAECE0E4EA" xlink:to="lab_pnw_PaloVerdeEstrella500KVSystemMember_554DA9CD2589DC8960A75FFAECE0E4EA" xlink:type="arc"/>

<link:label id="lab_pnw_MorganPinnaclePeakSystemMember_8CA71BAE6C4D219FCD8C5FFAECE0BB36_terseLabel_en-US" xlink:label="lab_pnw_MorganPinnaclePeakSystemMember_8CA71BAE6C4D219FCD8C5FFAECE0BB36" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Morgan-Pinnacle Peak System </link:label>

<link:label id="lab_pnw_MorganPinnaclePeakSystemMember_8CA71BAE6C4D219FCD8C5FFAECE0BB36_label_en-US" xlink:label="lab_pnw_MorganPinnaclePeakSystemMember_8CA71BAE6C4D219FCD8C5FFAECE0BB36" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Morgan Pinnacle Peak System [Member] </link:label>

<link:label id="lab_pnw_MorganPinnaclePeakSystemMember_8CA71BAE6C4D219FCD8C5FFAECE0BB36_documentation_en-US" xlink:label="lab_pnw_MorganPinnaclePeakSystemMember_8CA71BAE6C4D219FCD8C5FFAECE0BB36" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Morgan-Pinnacle Peak System, a jointly-owned transmission facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_MorganPinnaclePeakSystemMember" xlink:label="loc_pnw_MorganPinnaclePeakSystemMember_8CA71BAE6C4D219FCD8C5FFAECE0BB36" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_MorganPinnaclePeakSystemMember_8CA71BAE6C4D219FCD8C5FFAECE0BB36" xlink:to="lab_pnw_MorganPinnaclePeakSystemMember_8CA71BAE6C4D219FCD8C5FFAECE0BB36" xlink:type="arc"/>

<link:label id="lab_pnw_RoundValleySystemMember_058FE39C676E7A4100465FFAECE0CBFF_terseLabel_en-US" xlink:label="lab_pnw_RoundValleySystemMember_058FE39C676E7A4100465FFAECE0CBFF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Round Valley System </link:label>

<link:label id="lab_pnw_RoundValleySystemMember_058FE39C676E7A4100465FFAECE0CBFF_label_en-US" xlink:label="lab_pnw_RoundValleySystemMember_058FE39C676E7A4100465FFAECE0CBFF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Round Valley System [Member] </link:label>

<link:label id="lab_pnw_RoundValleySystemMember_058FE39C676E7A4100465FFAECE0CBFF_documentation_en-US" xlink:label="lab_pnw_RoundValleySystemMember_058FE39C676E7A4100465FFAECE0CBFF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Round Valley System, a jointly-owned transmission facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RoundValleySystemMember" xlink:label="loc_pnw_RoundValleySystemMember_058FE39C676E7A4100465FFAECE0CBFF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RoundValleySystemMember_058FE39C676E7A4100465FFAECE0CBFF" xlink:to="lab_pnw_RoundValleySystemMember_058FE39C676E7A4100465FFAECE0CBFF" xlink:type="arc"/>

<link:label id="lab_pnw_PaloVerdeMorganSystemMember_BC1E44BB56422D72F3025FFAECE0DA03_terseLabel_en-US" xlink:label="lab_pnw_PaloVerdeMorganSystemMember_BC1E44BB56422D72F3025FFAECE0DA03" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde - Morgan System </link:label>

<link:label id="lab_pnw_PaloVerdeMorganSystemMember_BC1E44BB56422D72F3025FFAECE0DA03_label_en-US" xlink:label="lab_pnw_PaloVerdeMorganSystemMember_BC1E44BB56422D72F3025FFAECE0DA03" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Palo Verde Morgan System [Member] </link:label>

<link:label id="lab_pnw_PaloVerdeMorganSystemMember_BC1E44BB56422D72F3025FFAECE0DA03_documentation_en-US" xlink:label="lab_pnw_PaloVerdeMorganSystemMember_BC1E44BB56422D72F3025FFAECE0DA03" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Palo Verde - Morgan System, a jointly-owned transmission facility of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PaloVerdeMorganSystemMember" xlink:label="loc_pnw_PaloVerdeMorganSystemMember_BC1E44BB56422D72F3025FFAECE0DA03" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PaloVerdeMorganSystemMember_BC1E44BB56422D72F3025FFAECE0DA03" xlink:to="lab_pnw_PaloVerdeMorganSystemMember_BC1E44BB56422D72F3025FFAECE0DA03" xlink:type="arc"/>

<link:label id="lab_pnw_HassayampaNorthGilaSystemMember_E5D7507F885411724A4F5FFAECE0BC9D_terseLabel_en-US" xlink:label="lab_pnw_HassayampaNorthGilaSystemMember_E5D7507F885411724A4F5FFAECE0BC9D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Hassayampa - North Gila System </link:label>

<link:label id="lab_pnw_HassayampaNorthGilaSystemMember_E5D7507F885411724A4F5FFAECE0BC9D_label_en-US" xlink:label="lab_pnw_HassayampaNorthGilaSystemMember_E5D7507F885411724A4F5FFAECE0BC9D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Hassayampa - North Gila System [Member] </link:label>

<link:label id="lab_pnw_HassayampaNorthGilaSystemMember_E5D7507F885411724A4F5FFAECE0BC9D_documentation_en-US" xlink:label="lab_pnw_HassayampaNorthGilaSystemMember_E5D7507F885411724A4F5FFAECE0BC9D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Hassayampa - North Gila System [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_HassayampaNorthGilaSystemMember" xlink:label="loc_pnw_HassayampaNorthGilaSystemMember_E5D7507F885411724A4F5FFAECE0BC9D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_HassayampaNorthGilaSystemMember_E5D7507F885411724A4F5FFAECE0BC9D" xlink:to="lab_pnw_HassayampaNorthGilaSystemMember_E5D7507F885411724A4F5FFAECE0BC9D" xlink:type="arc"/>

<link:label id="lab_pnw_Cholla500SwitchyardMember_0EFAC21B911C072FC1E760A1ED3F200F_terseLabel_en-US" xlink:label="lab_pnw_Cholla500SwitchyardMember_0EFAC21B911C072FC1E760A1ED3F200F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cholla 500 Switchyard </link:label>

<link:label id="lab_pnw_Cholla500SwitchyardMember_0EFAC21B911C072FC1E760A1ED3F200F_label_en-US" xlink:label="lab_pnw_Cholla500SwitchyardMember_0EFAC21B911C072FC1E760A1ED3F200F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cholla 500 Switchyard [Member] </link:label>

<link:label id="lab_pnw_Cholla500SwitchyardMember_0EFAC21B911C072FC1E760A1ED3F200F_documentation_en-US" xlink:label="lab_pnw_Cholla500SwitchyardMember_0EFAC21B911C072FC1E760A1ED3F200F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Cholla 500 Switchyard [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_Cholla500SwitchyardMember" xlink:label="loc_pnw_Cholla500SwitchyardMember_0EFAC21B911C072FC1E760A1ED3F200F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_Cholla500SwitchyardMember_0EFAC21B911C072FC1E760A1ED3F200F" xlink:to="lab_pnw_Cholla500SwitchyardMember_0EFAC21B911C072FC1E760A1ED3F200F" xlink:type="arc"/>

<link:label id="lab_pnw_Saquaro500SwitchyardMember_79C0D64A00E967C5F34360A5C8500513_terseLabel_en-US" xlink:label="lab_pnw_Saquaro500SwitchyardMember_79C0D64A00E967C5F34360A5C8500513" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Saquaro 500 Switchyard </link:label>

<link:label id="lab_pnw_Saquaro500SwitchyardMember_79C0D64A00E967C5F34360A5C8500513_label_en-US" xlink:label="lab_pnw_Saquaro500SwitchyardMember_79C0D64A00E967C5F34360A5C8500513" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Saquaro 500 Switchyard [Member] </link:label>

<link:label id="lab_pnw_Saquaro500SwitchyardMember_79C0D64A00E967C5F34360A5C8500513_documentation_en-US" xlink:label="lab_pnw_Saquaro500SwitchyardMember_79C0D64A00E967C5F34360A5C8500513" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Saquaro 500 Switchyard [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_Saquaro500SwitchyardMember" xlink:label="loc_pnw_Saquaro500SwitchyardMember_79C0D64A00E967C5F34360A5C8500513" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_Saquaro500SwitchyardMember_79C0D64A00E967C5F34360A5C8500513" xlink:to="lab_pnw_Saquaro500SwitchyardMember_79C0D64A00E967C5F34360A5C8500513" xlink:type="arc"/>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantInterestsLineItems_C2B875B385C93E0D7AC55FFAECE09F89_terseLabel_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantInterestsLineItems_C2B875B385C93E0D7AC55FFAECE09F89" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interests in jointly-owned facilities </link:label>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantInterestsLineItems_C2B875B385C93E0D7AC55FFAECE09F89_label_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantInterestsLineItems_C2B875B385C93E0D7AC55FFAECE09F89" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Jointly Owned Utility Plant Interests [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_JointlyOwnedUtilityPlantInterestsLineItems" xlink:label="loc_us-gaap_JointlyOwnedUtilityPlantInterestsLineItems_C2B875B385C93E0D7AC55FFAECE09F89" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_JointlyOwnedUtilityPlantInterestsLineItems_C2B875B385C93E0D7AC55FFAECE09F89" xlink:to="lab_us-gaap_JointlyOwnedUtilityPlantInterestsLineItems_C2B875B385C93E0D7AC55FFAECE09F89" xlink:type="arc"/>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantProportionateOwnershipShare_654414D4E647033873DB5FFAECE0E082_terseLabel_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantProportionateOwnershipShare_654414D4E647033873DB5FFAECE0E082" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percent Owned </link:label>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantProportionateOwnershipShare_654414D4E647033873DB5FFAECE0E082_label_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantProportionateOwnershipShare_654414D4E647033873DB5FFAECE0E082" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Jointly Owned Utility Plant, Proportionate Ownership Share </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_JointlyOwnedUtilityPlantProportionateOwnershipShare" xlink:label="loc_us-gaap_JointlyOwnedUtilityPlantProportionateOwnershipShare_654414D4E647033873DB5FFAECE0E082" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_JointlyOwnedUtilityPlantProportionateOwnershipShare_654414D4E647033873DB5FFAECE0E082" xlink:to="lab_us-gaap_JointlyOwnedUtilityPlantProportionateOwnershipShare_654414D4E647033873DB5FFAECE0E082" xlink:type="arc"/>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantGrossOwnershipAmountOfPlantInService_024F2CD4EF9DA4C0E5E65FFAECE0A81A_terseLabel_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantGrossOwnershipAmountOfPlantInService_024F2CD4EF9DA4C0E5E65FFAECE0A81A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Plant in Service </link:label>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantGrossOwnershipAmountOfPlantInService_024F2CD4EF9DA4C0E5E65FFAECE0A81A_label_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantGrossOwnershipAmountOfPlantInService_024F2CD4EF9DA4C0E5E65FFAECE0A81A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_JointlyOwnedUtilityPlantGrossOwnershipAmountOfPlantInService" xlink:label="loc_us-gaap_JointlyOwnedUtilityPlantGrossOwnershipAmountOfPlantInService_024F2CD4EF9DA4C0E5E65FFAECE0A81A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_JointlyOwnedUtilityPlantGrossOwnershipAmountOfPlantInService_024F2CD4EF9DA4C0E5E65FFAECE0A81A" xlink:to="lab_us-gaap_JointlyOwnedUtilityPlantGrossOwnershipAmountOfPlantInService_024F2CD4EF9DA4C0E5E65FFAECE0A81A" xlink:type="arc"/>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfPlantAccumulatedDepreciation_C11AFDC151650B0AD2FA5FFAECE08A55_terseLabel_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfPlantAccumulatedDepreciation_C11AFDC151650B0AD2FA5FFAECE08A55" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated Depreciation </link:label>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfPlantAccumulatedDepreciation_C11AFDC151650B0AD2FA5FFAECE08A55_label_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfPlantAccumulatedDepreciation_C11AFDC151650B0AD2FA5FFAECE08A55" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfPlantAccumulatedDepreciation" xlink:label="loc_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfPlantAccumulatedDepreciation_C11AFDC151650B0AD2FA5FFAECE08A55" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfPlantAccumulatedDepreciation_C11AFDC151650B0AD2FA5FFAECE08A55" xlink:to="lab_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfPlantAccumulatedDepreciation_C11AFDC151650B0AD2FA5FFAECE08A55" xlink:type="arc"/>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfConstructionWorkInProgress_CBF42E6DD648D662197D5FFAECE541E2_terseLabel_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfConstructionWorkInProgress_CBF42E6DD648D662197D5FFAECE541E2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Construction Work in Progress </link:label>

<link:label id="lab_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfConstructionWorkInProgress_CBF42E6DD648D662197D5FFAECE541E2_label_en-US" xlink:label="lab_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfConstructionWorkInProgress_CBF42E6DD648D662197D5FFAECE541E2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfConstructionWorkInProgress" xlink:label="loc_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfConstructionWorkInProgress_CBF42E6DD648D662197D5FFAECE541E2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfConstructionWorkInProgress_CBF42E6DD648D662197D5FFAECE541E2" xlink:to="lab_us-gaap_JointlyOwnedUtilityPlantOwnershipAmountOfConstructionWorkInProgress_CBF42E6DD648D662197D5FFAECE541E2" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanEstimatedFutureBenefitPaymentsAbstract_B6D042579F38AE10B21EC6F781F4418A_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEstimatedFutureBenefitPaymentsAbstract_B6D042579F38AE10B21EC6F781F4418A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Estimated Future Benefit Payments </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanEstimatedFutureBenefitPaymentsAbstract_B6D042579F38AE10B21EC6F781F4418A_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEstimatedFutureBenefitPaymentsAbstract_B6D042579F38AE10B21EC6F781F4418A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanEstimatedFutureBenefitPaymentsAbstract" xlink:label="loc_us-gaap_DefinedBenefitPlanEstimatedFutureBenefitPaymentsAbstract_B6D042579F38AE10B21EC6F781F4418A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanEstimatedFutureBenefitPaymentsAbstract_B6D042579F38AE10B21EC6F781F4418A" xlink:to="lab_us-gaap_DefinedBenefitPlanEstimatedFutureBenefitPaymentsAbstract_B6D042579F38AE10B21EC6F781F4418A" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths_B6D1A7D3889B3B4837E4C6F781F4E578_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths_B6D1A7D3889B3B4837E4C6F781F4E578" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2016 </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths_B6D1A7D3889B3B4837E4C6F781F4E578_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths_B6D1A7D3889B3B4837E4C6F781F4E578" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths_B6D1A7D3889B3B4837E4C6F781F4E578" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths_B6D1A7D3889B3B4837E4C6F781F4E578" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths_B6D1A7D3889B3B4837E4C6F781F4E578" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo_BF3B60F146640AD5B2F3C6F781F434C3_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo_BF3B60F146640AD5B2F3C6F781F434C3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2017 </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo_BF3B60F146640AD5B2F3C6F781F434C3_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo_BF3B60F146640AD5B2F3C6F781F434C3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Expected Future Benefit Payments, Year Two </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo_BF3B60F146640AD5B2F3C6F781F434C3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo_BF3B60F146640AD5B2F3C6F781F434C3" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo_BF3B60F146640AD5B2F3C6F781F434C3" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree_28DB10EDA7757CC0DDCAC6F781F4E587_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree_28DB10EDA7757CC0DDCAC6F781F4E587" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2018 </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree_28DB10EDA7757CC0DDCAC6F781F4E587_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree_28DB10EDA7757CC0DDCAC6F781F4E587" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Expected Future Benefit Payments, Year Three </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree_28DB10EDA7757CC0DDCAC6F781F4E587" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree_28DB10EDA7757CC0DDCAC6F781F4E587" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree_28DB10EDA7757CC0DDCAC6F781F4E587" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour_234A29F52FE60CCCC35DC6F781F48659_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour_234A29F52FE60CCCC35DC6F781F48659" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2019 </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour_234A29F52FE60CCCC35DC6F781F48659_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour_234A29F52FE60CCCC35DC6F781F48659" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Expected Future Benefit Payments, Year Four </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour_234A29F52FE60CCCC35DC6F781F48659" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour_234A29F52FE60CCCC35DC6F781F48659" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour_234A29F52FE60CCCC35DC6F781F48659" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive_FF5B94F94380C46A8558C6F781F56BD7_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive_FF5B94F94380C46A8558C6F781F56BD7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2020 </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive_FF5B94F94380C46A8558C6F781F56BD7_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive_FF5B94F94380C46A8558C6F781F56BD7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Expected Future Benefit Payments, Year Five </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive_FF5B94F94380C46A8558C6F781F56BD7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive_FF5B94F94380C46A8558C6F781F56BD7" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive_FF5B94F94380C46A8558C6F781F56BD7" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter_D5DF51AB08554ABFE9A0C6F781F5CA39_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter_D5DF51AB08554ABFE9A0C6F781F5CA39" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Years 2021-2025 </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter_D5DF51AB08554ABFE9A0C6F781F5CA39_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter_D5DF51AB08554ABFE9A0C6F781F5CA39" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter_D5DF51AB08554ABFE9A0C6F781F5CA39" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeTable_790E730A989F247058F3CCE8D56E4705_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeTable_790E730A989F247058F3CCE8D56E4705" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative [Table] </link:label>

<link:label id="lab_us-gaap_DerivativeTable_790E730A989F247058F3CCE8D56E4705_label_en-US" xlink:label="lab_us-gaap_DerivativeTable_790E730A989F247058F3CCE8D56E4705" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeTable" xlink:label="loc_us-gaap_DerivativeTable_790E730A989F247058F3CCE8D56E4705" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeLineItems_480B8B2C933F925ED053CCE8D56F1884_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLineItems_480B8B2C933F925ED053CCE8D56F1884" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative Accounting </link:label>

<link:label id="lab_us-gaap_DerivativeLineItems_480B8B2C933F925ED053CCE8D56F1884_label_en-US" xlink:label="lab_us-gaap_DerivativeLineItems_480B8B2C933F925ED053CCE8D56F1884" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeLineItems" xlink:label="loc_us-gaap_DerivativeLineItems_480B8B2C933F925ED053CCE8D56F1884" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLineItems_480B8B2C933F925ED053CCE8D56F1884" xlink:to="lab_us-gaap_DerivativeLineItems_480B8B2C933F925ED053CCE8D56F1884" xlink:type="arc"/>

<link:label id="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatment_2878F984F1D4DB65AF35CCE8D56F6451_terseLabel_en-US" xlink:label="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatment_2878F984F1D4DB65AF35CCE8D56F6451" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of unrealized gains and losses on certain derivatives deferred for future rate treatment </link:label>

<link:label id="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatment_2878F984F1D4DB65AF35CCE8D56F6451_label_en-US" xlink:label="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatment_2878F984F1D4DB65AF35CCE8D56F6451" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percentage of Unrealized Gains and Losses on Certain Derivatives Deferred for Future Rate Treatment </link:label>

<link:label id="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatment_2878F984F1D4DB65AF35CCE8D56F6451_documentation_en-US" xlink:label="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatment_2878F984F1D4DB65AF35CCE8D56F6451" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Percentage of unrealized gains and losses on certain derivatives deferred for future rate treatment pursuant to the PSA mechanism that would otherwise be recognized in income. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatment" xlink:label="loc_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatment_2878F984F1D4DB65AF35CCE8D56F6451" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatment_2878F984F1D4DB65AF35CCE8D56F6451" xlink:to="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatment_2878F984F1D4DB65AF35CCE8D56F6451" xlink:type="arc"/>

<link:label id="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatmentBeforeAccountingTreatmentChange_D58CE2C2B6ECB0A1CB94CCE8D56F7241_terseLabel_en-US" xlink:label="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatmentBeforeAccountingTreatmentChange_D58CE2C2B6ECB0A1CB94CCE8D56F7241" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of unrealized gains and losses on certain derivatives deferred for future rate treatment before accounting treatment change </link:label>

<link:label id="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatmentBeforeAccountingTreatmentChange_D58CE2C2B6ECB0A1CB94CCE8D56F7241_label_en-US" xlink:label="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatmentBeforeAccountingTreatmentChange_D58CE2C2B6ECB0A1CB94CCE8D56F7241" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percentage of Unrealized Gains and Losses on Certain Derivatives Deferred for Future Rate Treatment before Accounting Treatment Change </link:label>

<link:label id="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatmentBeforeAccountingTreatmentChange_D58CE2C2B6ECB0A1CB94CCE8D56F7241_documentation_en-US" xlink:label="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatmentBeforeAccountingTreatmentChange_D58CE2C2B6ECB0A1CB94CCE8D56F7241" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Percentage of unrealized gains and losses on certain derivatives deferred for future rate treatment pursuant to the PSA mechanism that would otherwise be recognized in income before accounting treatment change. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatmentBeforeAccountingTreatmentChange" xlink:label="loc_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatmentBeforeAccountingTreatmentChange_D58CE2C2B6ECB0A1CB94CCE8D56F7241" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatmentBeforeAccountingTreatmentChange_D58CE2C2B6ECB0A1CB94CCE8D56F7241" xlink:to="lab_pnw_PercentageOfUnrealizedGainsAndLossesOnCertainDerivativesDeferredForFutureRateTreatmentBeforeAccountingTreatmentChange_D58CE2C2B6ECB0A1CB94CCE8D56F7241" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths_ECFA5FC5D185804944A4CCE8D570D345_terseLabel_en-US" xlink:label="lab_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths_ECFA5FC5D185804944A4CCE8D570D345" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Estimated net gain (loss) before income taxes to be reclassified from accumulated other comprehensive income </link:label>

<link:label id="lab_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths_ECFA5FC5D185804944A4CCE8D570D345_label_en-US" xlink:label="lab_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths_ECFA5FC5D185804944A4CCE8D570D345" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths" xlink:label="loc_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths_ECFA5FC5D185804944A4CCE8D570D345" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths_ECFA5FC5D185804944A4CCE8D570D345" xlink:to="lab_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths_ECFA5FC5D185804944A4CCE8D570D345" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeLiabilities_84099486B898AA77ED45CCE8D5703FC1_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities_84099486B898AA77ED45CCE8D5703FC1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative liability </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="loc_us-gaap_DerivativeLiabilities_84099486B898AA77ED45CCE8D5703FC1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilities_84099486B898AA77ED45CCE8D5703FC1" xlink:to="lab_us-gaap_DerivativeLiabilities_84099486B898AA77ED45CCE8D5703FC1" xlink:type="arc"/>

<link:label id="lab_pnw_DerivativeInstrumentConcentrationOfRiskCounterparties_5BE365658C803E76A2BCCCE8D5701DEE_terseLabel_en-US" xlink:label="lab_pnw_DerivativeInstrumentConcentrationOfRiskCounterparties_5BE365658C803E76A2BCCCE8D5701DEE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Concentration of credit risk, number of counterparties </link:label>

<link:label id="lab_pnw_DerivativeInstrumentConcentrationOfRiskCounterparties_5BE365658C803E76A2BCCCE8D5701DEE_label_en-US" xlink:label="lab_pnw_DerivativeInstrumentConcentrationOfRiskCounterparties_5BE365658C803E76A2BCCCE8D5701DEE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Instrument Concentration of Risk Counterparties </link:label>

<link:label id="lab_pnw_DerivativeInstrumentConcentrationOfRiskCounterparties_5BE365658C803E76A2BCCCE8D5701DEE_documentation_en-US" xlink:label="lab_pnw_DerivativeInstrumentConcentrationOfRiskCounterparties_5BE365658C803E76A2BCCCE8D5701DEE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The number of counterparties involved in risk management contracts for which the concentration of risk is disclosed. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DerivativeInstrumentConcentrationOfRiskCounterparties" xlink:label="loc_pnw_DerivativeInstrumentConcentrationOfRiskCounterparties_5BE365658C803E76A2BCCCE8D5701DEE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DerivativeInstrumentConcentrationOfRiskCounterparties_5BE365658C803E76A2BCCCE8D5701DEE" xlink:to="lab_pnw_DerivativeInstrumentConcentrationOfRiskCounterparties_5BE365658C803E76A2BCCCE8D5701DEE" xlink:type="arc"/>

<link:label id="lab_us-gaap_ConcentrationRiskPercentage1_0728098C69E56DB80501CCE8D5700229_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1_0728098C69E56DB80501CCE8D5700229" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Concentration risk </link:label>

<link:label id="lab_us-gaap_ConcentrationRiskPercentage1_0728098C69E56DB80501CCE8D5700229_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1_0728098C69E56DB80501CCE8D5700229" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Concentration Risk, Percentage </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="loc_us-gaap_ConcentrationRiskPercentage1_0728098C69E56DB80501CCE8D5700229" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskPercentage1_0728098C69E56DB80501CCE8D5700229" xlink:to="lab_us-gaap_ConcentrationRiskPercentage1_0728098C69E56DB80501CCE8D5700229" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeAssets_814161A0252A5BEA859FCCE8D5706275_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssets_814161A0252A5BEA859FCCE8D5706275" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="loc_us-gaap_DerivativeAssets_814161A0252A5BEA859FCCE8D5706275" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssets_814161A0252A5BEA859FCCE8D5706275" xlink:to="lab_us-gaap_DerivativeAssets_814161A0252A5BEA859FCCE8D5706275" xlink:type="arc"/>

<link:label id="lab_pnw_NonDerivativeCreditRiskContractAdditionalCollateralAggregateFairValue_43739F59E9C4E6C99C68CCE8D570B475_terseLabel_en-US" xlink:label="lab_pnw_NonDerivativeCreditRiskContractAdditionalCollateralAggregateFairValue_43739F59E9C4E6C99C68CCE8D570B475" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additional collateral to counterparties for energy related non-derivative instrument contracts </link:label>

<link:label id="lab_pnw_NonDerivativeCreditRiskContractAdditionalCollateralAggregateFairValue_43739F59E9C4E6C99C68CCE8D570B475_label_en-US" xlink:label="lab_pnw_NonDerivativeCreditRiskContractAdditionalCollateralAggregateFairValue_43739F59E9C4E6C99C68CCE8D570B475" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Non Derivative Credit Risk Contract Additional Collateral Aggregate Fair Value </link:label>

<link:label id="lab_pnw_NonDerivativeCreditRiskContractAdditionalCollateralAggregateFairValue_43739F59E9C4E6C99C68CCE8D570B475_documentation_en-US" xlink:label="lab_pnw_NonDerivativeCreditRiskContractAdditionalCollateralAggregateFairValue_43739F59E9C4E6C99C68CCE8D570B475" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The aggregate fair value of additional assets that would be required to be posted as collateral for non-derivative instruments with credit-risk related contingent features if the credit-risk-related contingent features were triggered at the end of the reporting period. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NonDerivativeCreditRiskContractAdditionalCollateralAggregateFairValue" xlink:label="loc_pnw_NonDerivativeCreditRiskContractAdditionalCollateralAggregateFairValue_43739F59E9C4E6C99C68CCE8D570B475" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NonDerivativeCreditRiskContractAdditionalCollateralAggregateFairValue_43739F59E9C4E6C99C68CCE8D570B475" xlink:to="lab_pnw_NonDerivativeCreditRiskContractAdditionalCollateralAggregateFairValue_43739F59E9C4E6C99C68CCE8D570B475" xlink:type="arc"/>

<link:label id="lab_pnw_ScheduleOfAssetRetirementObligationsTable_8E9792B2771586B00AC8C90284B83ADA_terseLabel_en-US" xlink:label="lab_pnw_ScheduleOfAssetRetirementObligationsTable_8E9792B2771586B00AC8C90284B83ADA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Asset Retirement Obligations [Table] </link:label>

<link:label id="lab_pnw_ScheduleOfAssetRetirementObligationsTable_8E9792B2771586B00AC8C90284B83ADA_label_en-US" xlink:label="lab_pnw_ScheduleOfAssetRetirementObligationsTable_8E9792B2771586B00AC8C90284B83ADA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Asset Retirement Obligations [Table] </link:label>

<link:label id="lab_pnw_ScheduleOfAssetRetirementObligationsTable_8E9792B2771586B00AC8C90284B83ADA_documentation_en-US" xlink:label="lab_pnw_ScheduleOfAssetRetirementObligationsTable_8E9792B2771586B00AC8C90284B83ADA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Information about the carrying amount of a liability for asset retirement obligations. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ScheduleOfAssetRetirementObligationsTable" xlink:label="loc_pnw_ScheduleOfAssetRetirementObligationsTable_8E9792B2771586B00AC8C90284B83ADA" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_797745F7EC9C266144F1C90284B8A3D3_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_797745F7EC9C266144F1C90284B8A3D3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Type [Axis] </link:label>

<link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_797745F7EC9C266144F1C90284B8A3D3_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_797745F7EC9C266144F1C90284B8A3D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Type [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_797745F7EC9C266144F1C90284B8A3D3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_797745F7EC9C266144F1C90284B8A3D3" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_797745F7EC9C266144F1C90284B8A3D3" xlink:type="arc"/>

<link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_4280492F662A5C5B353DC90284B8CA78_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_4280492F662A5C5B353DC90284B8CA78" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Type [Domain] </link:label>

<link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_4280492F662A5C5B353DC90284B8CA78_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_4280492F662A5C5B353DC90284B8CA78" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Type [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_4280492F662A5C5B353DC90284B8CA78" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_4280492F662A5C5B353DC90284B8CA78" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_4280492F662A5C5B353DC90284B8CA78" xlink:type="arc"/>

<link:label id="lab_pnw_ChollaMember_B9507F606996AAC0E949C90284B8A8EF_terseLabel_en-US" xlink:label="lab_pnw_ChollaMember_B9507F606996AAC0E949C90284B8A8EF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cholla </link:label>

<link:label id="lab_pnw_ChollaMember_B9507F606996AAC0E949C90284B8A8EF_label_en-US" xlink:label="lab_pnw_ChollaMember_B9507F606996AAC0E949C90284B8A8EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cholla [Member] </link:label>

<link:label id="lab_pnw_ChollaMember_B9507F606996AAC0E949C90284B8A8EF_documentation_en-US" xlink:label="lab_pnw_ChollaMember_B9507F606996AAC0E949C90284B8A8EF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represent information pertaining to Cholla. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ChollaMember" xlink:label="loc_pnw_ChollaMember_B9507F606996AAC0E949C90284B8A8EF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ChollaMember_B9507F606996AAC0E949C90284B8A8EF" xlink:to="lab_pnw_ChollaMember_B9507F606996AAC0E949C90284B8A8EF" xlink:type="arc"/>

<link:label id="lab_pnw_PaloVerdeNuclearFacilitiesAndCertainOtherGenerationTransmissionAndDistributionAssetsMember_CAFBEE4E5F507E78EDC6C90284B8CA28_terseLabel_en-US" xlink:label="lab_pnw_PaloVerdeNuclearFacilitiesAndCertainOtherGenerationTransmissionAndDistributionAssetsMember_CAFBEE4E5F507E78EDC6C90284B8CA28" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde Nuclear Facilities and Certain other Generation Transmission and Distribution Assets </link:label>

<link:label id="lab_pnw_PaloVerdeNuclearFacilitiesAndCertainOtherGenerationTransmissionAndDistributionAssetsMember_CAFBEE4E5F507E78EDC6C90284B8CA28_label_en-US" xlink:label="lab_pnw_PaloVerdeNuclearFacilitiesAndCertainOtherGenerationTransmissionAndDistributionAssetsMember_CAFBEE4E5F507E78EDC6C90284B8CA28" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Palo Verde Nuclear Facilities and Certain other Generation Transmission and Distribution Assets [Member] </link:label>

<link:label id="lab_pnw_PaloVerdeNuclearFacilitiesAndCertainOtherGenerationTransmissionAndDistributionAssetsMember_CAFBEE4E5F507E78EDC6C90284B8CA28_documentation_en-US" xlink:label="lab_pnw_PaloVerdeNuclearFacilitiesAndCertainOtherGenerationTransmissionAndDistributionAssetsMember_CAFBEE4E5F507E78EDC6C90284B8CA28" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to Palo Verde nuclear facilities and certain other generation, transmission and distribution assets. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PaloVerdeNuclearFacilitiesAndCertainOtherGenerationTransmissionAndDistributionAssetsMember" xlink:label="loc_pnw_PaloVerdeNuclearFacilitiesAndCertainOtherGenerationTransmissionAndDistributionAssetsMember_CAFBEE4E5F507E78EDC6C90284B8CA28" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PaloVerdeNuclearFacilitiesAndCertainOtherGenerationTransmissionAndDistributionAssetsMember_CAFBEE4E5F507E78EDC6C90284B8CA28" xlink:to="lab_pnw_PaloVerdeNuclearFacilitiesAndCertainOtherGenerationTransmissionAndDistributionAssetsMember_CAFBEE4E5F507E78EDC6C90284B8CA28" xlink:type="arc"/>

<link:label id="lab_pnw_FourCornersUnits1Through3Member_593255C147CA24D2E8B7C90284B8397B_terseLabel_en-US" xlink:label="lab_pnw_FourCornersUnits1Through3Member_593255C147CA24D2E8B7C90284B8397B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Four Corners Units 1 Through 3 </link:label>

<link:label id="lab_pnw_FourCornersUnits1Through3Member_593255C147CA24D2E8B7C90284B8397B_label_en-US" xlink:label="lab_pnw_FourCornersUnits1Through3Member_593255C147CA24D2E8B7C90284B8397B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Four Corners Units 1 Through 3 [Member] </link:label>

<link:label id="lab_pnw_FourCornersUnits1Through3Member_593255C147CA24D2E8B7C90284B8397B_documentation_en-US" xlink:label="lab_pnw_FourCornersUnits1Through3Member_593255C147CA24D2E8B7C90284B8397B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to Four Corners Units 1 through 3. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FourCornersUnits1Through3Member" xlink:label="loc_pnw_FourCornersUnits1Through3Member_593255C147CA24D2E8B7C90284B8397B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FourCornersUnits1Through3Member_593255C147CA24D2E8B7C90284B8397B" xlink:to="lab_pnw_FourCornersUnits1Through3Member_593255C147CA24D2E8B7C90284B8397B" xlink:type="arc"/>

<link:label id="lab_pnw_SolarFacilityMember_E78DF194D4E5B80DDD9CC90284B8A768_terseLabel_en-US" xlink:label="lab_pnw_SolarFacilityMember_E78DF194D4E5B80DDD9CC90284B8A768" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Solar Facility </link:label>

<link:label id="lab_pnw_SolarFacilityMember_E78DF194D4E5B80DDD9CC90284B8A768_label_en-US" xlink:label="lab_pnw_SolarFacilityMember_E78DF194D4E5B80DDD9CC90284B8A768" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Solar Facility [Member] </link:label>

<link:label id="lab_pnw_SolarFacilityMember_E78DF194D4E5B80DDD9CC90284B8A768_documentation_en-US" xlink:label="lab_pnw_SolarFacilityMember_E78DF194D4E5B80DDD9CC90284B8A768" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Solar Facility [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SolarFacilityMember" xlink:label="loc_pnw_SolarFacilityMember_E78DF194D4E5B80DDD9CC90284B8A768" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SolarFacilityMember_E78DF194D4E5B80DDD9CC90284B8A768" xlink:to="lab_pnw_SolarFacilityMember_E78DF194D4E5B80DDD9CC90284B8A768" xlink:type="arc"/>

<link:label id="lab_pnw_AssetRetirementObligationsLineItems_CDA142B782583DFCB5F3C90284B8F0AE_terseLabel_en-US" xlink:label="lab_pnw_AssetRetirementObligationsLineItems_CDA142B782583DFCB5F3C90284B8F0AE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligations </link:label>

<link:label id="lab_pnw_AssetRetirementObligationsLineItems_CDA142B782583DFCB5F3C90284B8F0AE_label_en-US" xlink:label="lab_pnw_AssetRetirementObligationsLineItems_CDA142B782583DFCB5F3C90284B8F0AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligations [Line Items] </link:label>

<link:label id="lab_pnw_AssetRetirementObligationsLineItems_CDA142B782583DFCB5F3C90284B8F0AE_documentation_en-US" xlink:label="lab_pnw_AssetRetirementObligationsLineItems_CDA142B782583DFCB5F3C90284B8F0AE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AssetRetirementObligationsLineItems" xlink:label="loc_pnw_AssetRetirementObligationsLineItems_CDA142B782583DFCB5F3C90284B8F0AE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AssetRetirementObligationsLineItems_CDA142B782583DFCB5F3C90284B8F0AE" xlink:to="lab_pnw_AssetRetirementObligationsLineItems_CDA142B782583DFCB5F3C90284B8F0AE" xlink:type="arc"/>

<link:label id="lab_pnw_AssetRetirementObligationLiabilitiesIncurredIncreaseinPlantServices_8AFE1F681EE542D7FE55C90284B94BDA_terseLabel_en-US" xlink:label="lab_pnw_AssetRetirementObligationLiabilitiesIncurredIncreaseinPlantServices_8AFE1F681EE542D7FE55C90284B94BDA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Increase in plant services </link:label>

<link:label id="lab_pnw_AssetRetirementObligationLiabilitiesIncurredIncreaseinPlantServices_8AFE1F681EE542D7FE55C90284B94BDA_label_en-US" xlink:label="lab_pnw_AssetRetirementObligationLiabilitiesIncurredIncreaseinPlantServices_8AFE1F681EE542D7FE55C90284B94BDA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation, Liabilities Incurred, Increase in Plant Services </link:label>

<link:label id="lab_pnw_AssetRetirementObligationLiabilitiesIncurredIncreaseinPlantServices_8AFE1F681EE542D7FE55C90284B94BDA_documentation_en-US" xlink:label="lab_pnw_AssetRetirementObligationLiabilitiesIncurredIncreaseinPlantServices_8AFE1F681EE542D7FE55C90284B94BDA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation, Liabilities Incurred, Increase in Plant Services </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AssetRetirementObligationLiabilitiesIncurredIncreaseinPlantServices" xlink:label="loc_pnw_AssetRetirementObligationLiabilitiesIncurredIncreaseinPlantServices_8AFE1F681EE542D7FE55C90284B94BDA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AssetRetirementObligationLiabilitiesIncurredIncreaseinPlantServices_8AFE1F681EE542D7FE55C90284B94BDA" xlink:to="lab_pnw_AssetRetirementObligationLiabilitiesIncurredIncreaseinPlantServices_8AFE1F681EE542D7FE55C90284B94BDA" xlink:type="arc"/>

<link:label id="lab_pnw_AssetRetirementObligationLiabilitiesIncurredDecreaseinRegulatoryLiability_DFB0E81B8E1E70121759C90284B984FE_terseLabel_en-US" xlink:label="lab_pnw_AssetRetirementObligationLiabilitiesIncurredDecreaseinRegulatoryLiability_DFB0E81B8E1E70121759C90284B984FE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Decrease in regulatory liability </link:label>

<link:label id="lab_pnw_AssetRetirementObligationLiabilitiesIncurredDecreaseinRegulatoryLiability_DFB0E81B8E1E70121759C90284B984FE_label_en-US" xlink:label="lab_pnw_AssetRetirementObligationLiabilitiesIncurredDecreaseinRegulatoryLiability_DFB0E81B8E1E70121759C90284B984FE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation, Liabilities Incurred, Decrease in Regulatory Liability </link:label>

<link:label id="lab_pnw_AssetRetirementObligationLiabilitiesIncurredDecreaseinRegulatoryLiability_DFB0E81B8E1E70121759C90284B984FE_documentation_en-US" xlink:label="lab_pnw_AssetRetirementObligationLiabilitiesIncurredDecreaseinRegulatoryLiability_DFB0E81B8E1E70121759C90284B984FE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation, Liabilities Incurred, Decrease in Regulatory Liability </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AssetRetirementObligationLiabilitiesIncurredDecreaseinRegulatoryLiability" xlink:label="loc_pnw_AssetRetirementObligationLiabilitiesIncurredDecreaseinRegulatoryLiability_DFB0E81B8E1E70121759C90284B984FE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AssetRetirementObligationLiabilitiesIncurredDecreaseinRegulatoryLiability_DFB0E81B8E1E70121759C90284B984FE" xlink:to="lab_pnw_AssetRetirementObligationLiabilitiesIncurredDecreaseinRegulatoryLiability_DFB0E81B8E1E70121759C90284B984FE" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_432EA4340527DB69FD42C90284B92F03_terseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_432EA4340527DB69FD42C90284B92F03" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in asset retirement obligations </link:label>

<link:label id="lab_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_432EA4340527DB69FD42C90284B92F03_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_432EA4340527DB69FD42C90284B92F03" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward" xlink:label="loc_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_432EA4340527DB69FD42C90284B92F03" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_432EA4340527DB69FD42C90284B92F03" xlink:to="lab_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_432EA4340527DB69FD42C90284B92F03" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetRetirementObligation_DCE2B5BB5676DAC0C2FFC90284B9327A_periodStartLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligation_DCE2B5BB5676DAC0C2FFC90284B9327A" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Beginning balance </link:label>

<link:label id="lab_us-gaap_AssetRetirementObligation_DCE2B5BB5676DAC0C2FFC90284B9327A_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligation_DCE2B5BB5676DAC0C2FFC90284B9327A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetRetirementObligation" xlink:label="loc_us-gaap_AssetRetirementObligation_DCE2B5BB5676DAC0C2FFC90284B9327A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligation_DCE2B5BB5676DAC0C2FFC90284B9327A" xlink:to="lab_us-gaap_AssetRetirementObligation_DCE2B5BB5676DAC0C2FFC90284B9327A" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetRetirementObligationAbstract_CBB7E679BE4B8AEFF259C90284B912B6_terseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationAbstract_CBB7E679BE4B8AEFF259C90284B912B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Changes attributable to: </link:label>

<link:label id="lab_us-gaap_AssetRetirementObligationAbstract_CBB7E679BE4B8AEFF259C90284B912B6_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationAbstract_CBB7E679BE4B8AEFF259C90284B912B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetRetirementObligationAbstract" xlink:label="loc_us-gaap_AssetRetirementObligationAbstract_CBB7E679BE4B8AEFF259C90284B912B6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligationAbstract_CBB7E679BE4B8AEFF259C90284B912B6" xlink:to="lab_us-gaap_AssetRetirementObligationAbstract_CBB7E679BE4B8AEFF259C90284B912B6" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetRetirementObligationAccretionExpense_D5527F34148B9E492014C90284B9D7C1_terseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationAccretionExpense_D5527F34148B9E492014C90284B9D7C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accretion expense </link:label>

<link:label id="lab_us-gaap_AssetRetirementObligationAccretionExpense_D5527F34148B9E492014C90284B9D7C1_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationAccretionExpense_D5527F34148B9E492014C90284B9D7C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation, Accretion Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetRetirementObligationAccretionExpense" xlink:label="loc_us-gaap_AssetRetirementObligationAccretionExpense_D5527F34148B9E492014C90284B9D7C1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligationAccretionExpense_D5527F34148B9E492014C90284B9D7C1" xlink:to="lab_us-gaap_AssetRetirementObligationAccretionExpense_D5527F34148B9E492014C90284B9D7C1" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetRetirementObligationLiabilitiesSettled_3BE7B0D5D643035F0CADC90284B9ED22_negatedLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationLiabilitiesSettled_3BE7B0D5D643035F0CADC90284B9ED22" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Settlements </link:label>

<link:label id="lab_us-gaap_AssetRetirementObligationLiabilitiesSettled_3BE7B0D5D643035F0CADC90284B9ED22_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationLiabilitiesSettled_3BE7B0D5D643035F0CADC90284B9ED22" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation, Liabilities Settled </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetRetirementObligationLiabilitiesSettled" xlink:label="loc_us-gaap_AssetRetirementObligationLiabilitiesSettled_3BE7B0D5D643035F0CADC90284B9ED22" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligationLiabilitiesSettled_3BE7B0D5D643035F0CADC90284B9ED22" xlink:to="lab_us-gaap_AssetRetirementObligationLiabilitiesSettled_3BE7B0D5D643035F0CADC90284B9ED22" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetRetirementObligationRevisionOfEstimate_80383E35C5324FF897A0C90284B92E71_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationRevisionOfEstimate_80383E35C5324FF897A0C90284B92E71" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Estimated cash flow revisions </link:label>

<link:label id="lab_us-gaap_AssetRetirementObligationRevisionOfEstimate_80383E35C5324FF897A0C90284B92E71_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationRevisionOfEstimate_80383E35C5324FF897A0C90284B92E71" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation, Revision of Estimate </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetRetirementObligationRevisionOfEstimate" xlink:label="loc_us-gaap_AssetRetirementObligationRevisionOfEstimate_80383E35C5324FF897A0C90284B92E71" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligationRevisionOfEstimate_80383E35C5324FF897A0C90284B92E71" xlink:to="lab_us-gaap_AssetRetirementObligationRevisionOfEstimate_80383E35C5324FF897A0C90284B92E71" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetRetirementObligationLiabilitiesIncurred_5E7DD67A68D72D02A9EAC90284B9C34F_terseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationLiabilitiesIncurred_5E7DD67A68D72D02A9EAC90284B9C34F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Newly incurred obligation </link:label>

<link:label id="lab_us-gaap_AssetRetirementObligationLiabilitiesIncurred_5E7DD67A68D72D02A9EAC90284B9C34F_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationLiabilitiesIncurred_5E7DD67A68D72D02A9EAC90284B9C34F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation, Liabilities Incurred </link:label>

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<link:label id="lab_us-gaap_AssetRetirementObligation_AD32AF6388D5A553C45CC90284B99D80_periodEndLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligation_AD32AF6388D5A553C45CC90284B99D80" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Ending balance </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetRetirementObligation" xlink:label="loc_us-gaap_AssetRetirementObligation_AD32AF6388D5A553C45CC90284B99D80" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AssetRetirementObligationCurrent_CB827C42F31E9C06E3CFC90284B96DB7_terseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationCurrent_CB827C42F31E9C06E3CFC90284B96DB7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Asset retirement obligations, current </link:label>

<link:label id="lab_us-gaap_AssetRetirementObligationCurrent_CB827C42F31E9C06E3CFC90284B96DB7_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationCurrent_CB827C42F31E9C06E3CFC90284B96DB7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligation, Current </link:label>

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<link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_6C96F05DE82D2845E6158E516A4C109D_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract_6C96F05DE82D2845E6158E516A4C109D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement of Stockholders' Equity [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract_6C96F05DE82D2845E6158E516A4C109D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CommonStockMember_D1FDC2C4D93FB0AAE64A8E516A4D2D40_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember_D1FDC2C4D93FB0AAE64A8E516A4D2D40" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Common Stock </link:label>

<link:label id="lab_us-gaap_CommonStockMember_D1FDC2C4D93FB0AAE64A8E516A4D2D40_label_en-US" xlink:label="lab_us-gaap_CommonStockMember_D1FDC2C4D93FB0AAE64A8E516A4D2D40" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_D1FDC2C4D93FB0AAE64A8E516A4D2D40" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_7BA956C2C6D744A4D05E8E516A4DD3BC_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember_7BA956C2C6D744A4D05E8E516A4DD3BC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additional Paid-In Capital </link:label>

<link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_7BA956C2C6D744A4D05E8E516A4DD3BC_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember_7BA956C2C6D744A4D05E8E516A4DD3BC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Additional Paid-in Capital [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember_7BA956C2C6D744A4D05E8E516A4DD3BC" xlink:type="locator"/>

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<link:label id="lab_us-gaap_TreasuryStockMember_3556B755069D9265A33C8E516A4D06EC_verboseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockMember_3556B755069D9265A33C8E516A4D06EC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Treasury Stock </link:label>

<link:label id="lab_us-gaap_TreasuryStockMember_3556B755069D9265A33C8E516A4D06EC_label_en-US" xlink:label="lab_us-gaap_TreasuryStockMember_3556B755069D9265A33C8E516A4D06EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Treasury Stock [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TreasuryStockMember" xlink:label="loc_us-gaap_TreasuryStockMember_3556B755069D9265A33C8E516A4D06EC" xlink:type="locator"/>

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<link:label id="lab_us-gaap_RetainedEarningsMember_309537B6666E56DCCA498E516A4D36E0_verboseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember_309537B6666E56DCCA498E516A4D36E0" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Retained Earnings </link:label>

<link:label id="lab_us-gaap_RetainedEarningsMember_309537B6666E56DCCA498E516A4D36E0_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember_309537B6666E56DCCA498E516A4D36E0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Retained Earnings [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_us-gaap_RetainedEarningsMember_309537B6666E56DCCA498E516A4D36E0" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_A1A7C8E0B1E2013EEE6A8E516A4DED60_verboseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_A1A7C8E0B1E2013EEE6A8E516A4DED60" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss) </link:label>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_A1A7C8E0B1E2013EEE6A8E516A4DED60_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_A1A7C8E0B1E2013EEE6A8E516A4DED60" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> AOCI Attributable to Parent [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_A1A7C8E0B1E2013EEE6A8E516A4DED60" xlink:type="locator"/>

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<link:label id="lab_us-gaap_NoncontrollingInterestMember_092ED3444B0DD95CB5FE8E516A4D702C_verboseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember_092ED3444B0DD95CB5FE8E516A4D702C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Noncontrolling Interests </link:label>

<link:label id="lab_us-gaap_NoncontrollingInterestMember_092ED3444B0DD95CB5FE8E516A4D702C_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember_092ED3444B0DD95CB5FE8E516A4D702C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noncontrolling Interest [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_us-gaap_NoncontrollingInterestMember_092ED3444B0DD95CB5FE8E516A4D702C" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_E43D6B58D3B7D570370B8E516A4DF046_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_E43D6B58D3B7D570370B8E516A4DF046" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Shareholders' Equity </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_E43D6B58D3B7D570370B8E516A4DF046_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_E43D6B58D3B7D570370B8E516A4DF046" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Stockholders' Equity [Roll Forward] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_E43D6B58D3B7D570370B8E516A4DF046" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_BFA13152979CA6687C308E516A4D6238_periodStartLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_BFA13152979CA6687C308E516A4D6238" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Beginning Balance </link:label>

<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_BFA13152979CA6687C308E516A4D6238_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_BFA13152979CA6687C308E516A4D6238" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_BFA13152979CA6687C308E516A4D6238" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CommonStockSharesIssued_3C528742663CC5DEE96B8E516A4D3E91_periodStartLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_3C528742663CC5DEE96B8E516A4D3E91" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Beginning Balance (in shares) </link:label>

<link:label id="lab_us-gaap_CommonStockSharesIssued_3C528742663CC5DEE96B8E516A4D3E91_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_3C528742663CC5DEE96B8E516A4D3E91" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock, Shares, Issued </link:label>

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<link:label id="lab_us-gaap_ProfitLoss_A02138582771AF03FA668E516A4DB42A_terseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss_A02138582771AF03FA668E516A4DB42A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net income </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_A02138582771AF03FA668E516A4DB42A" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_E08296A82F0EB15034238E516A4E1F73_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_E08296A82F0EB15034238E516A4E1F73" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other comprehensive income </link:label>

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<link:label id="lab_us-gaap_DividendsCommonStock_E3CF5E65BC3FC162957F8E516A4E6A65_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStock_E3CF5E65BC3FC162957F8E516A4E6A65" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Dividends on common stock </link:label>

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<link:label id="lab_us-gaap_StockholdersEquityOther_A6D6EB39413980A2A7EE8E516A4E8610_negatedLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityOther_A6D6EB39413980A2A7EE8E516A4E8610" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_StockholdersEquityOther_A6D6EB39413980A2A7EE8E516A4E8610_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityOther_A6D6EB39413980A2A7EE8E516A4E8610" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity, Other </link:label>

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<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_5D5B6B55B341AC1C28738E516A4EBCD9_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_5D5B6B55B341AC1C28738E516A4EBCD9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Issuance of common stock </link:label>

<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_5D5B6B55B341AC1C28738E516A4EBCD9_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_5D5B6B55B341AC1C28738E516A4EBCD9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period, Value, New Issues </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues_5D5B6B55B341AC1C28738E516A4EBCD9" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_D50DB0934D4A38A0DD918E516A4E3087_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_D50DB0934D4A38A0DD918E516A4E3087" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Issuance of common stock (in shares) </link:label>

<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_D50DB0934D4A38A0DD918E516A4E3087_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_D50DB0934D4A38A0DD918E516A4E3087" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period, Shares, New Issues </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues_D50DB0934D4A38A0DD918E516A4E3087" xlink:type="locator"/>

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<link:label id="lab_us-gaap_TreasuryStockValueAcquiredCostMethod_0B580FEBC891B8354DE98E516A4EEEAA_negatedLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockValueAcquiredCostMethod_0B580FEBC891B8354DE98E516A4EEEAA" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Purchase of treasury stock </link:label>

<link:label id="lab_us-gaap_TreasuryStockValueAcquiredCostMethod_0B580FEBC891B8354DE98E516A4EEEAA_label_en-US" xlink:label="lab_us-gaap_TreasuryStockValueAcquiredCostMethod_0B580FEBC891B8354DE98E516A4EEEAA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Treasury Stock, Value, Acquired, Cost Method </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:label="loc_us-gaap_TreasuryStockValueAcquiredCostMethod_0B580FEBC891B8354DE98E516A4EEEAA" xlink:type="locator"/>

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<link:label id="lab_us-gaap_TreasuryStockSharesAcquired_02C623435BF92BB8C6EB8E516A4E3A61_negatedLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockSharesAcquired_02C623435BF92BB8C6EB8E516A4E3A61" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Purchase of treasury stock (in shares) </link:label>

<link:label id="lab_us-gaap_TreasuryStockSharesAcquired_02C623435BF92BB8C6EB8E516A4E3A61_label_en-US" xlink:label="lab_us-gaap_TreasuryStockSharesAcquired_02C623435BF92BB8C6EB8E516A4E3A61" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Treasury Stock, Shares, Acquired </link:label>

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<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued_4E83FDAB2F90CD1599D28E516A4E02E1_verboseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued_4E83FDAB2F90CD1599D28E516A4E02E1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Reissuance of treasury stock for stock-based compensation and other </link:label>

<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued_4E83FDAB2F90CD1599D28E516A4E02E1_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued_4E83FDAB2F90CD1599D28E516A4E02E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period, Value, Treasury Stock Reissued </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued_4E83FDAB2F90CD1599D28E516A4E02E1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued_4E83FDAB2F90CD1599D28E516A4E02E1" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued_4E83FDAB2F90CD1599D28E516A4E02E1" xlink:type="arc"/>

<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued_400E0A0631700DE5C1158E516A4E728B_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued_400E0A0631700DE5C1158E516A4E728B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Reissuance of treasury stock for stock-based compensation and other (in shares) </link:label>

<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued_400E0A0631700DE5C1158E516A4E728B_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued_400E0A0631700DE5C1158E516A4E728B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period, Shares, Treasury Stock Reissued </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued_400E0A0631700DE5C1158E516A4E728B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued_400E0A0631700DE5C1158E516A4E728B" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued_400E0A0631700DE5C1158E516A4E728B" xlink:type="arc"/>

<link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_217E5CE0413E813DC2E88E516A4E12A8_negatedLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_217E5CE0413E813DC2E88E516A4E12A8" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Net capital activities by noncontrolling interests </link:label>

<link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_217E5CE0413E813DC2E88E516A4E12A8_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_217E5CE0413E813DC2E88E516A4E12A8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_217E5CE0413E813DC2E88E516A4E12A8" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_F43368FE5658FD080AA08E516A4E7827_periodEndLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_F43368FE5658FD080AA08E516A4E7827" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Ending Balance </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_F43368FE5658FD080AA08E516A4E7827" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_F43368FE5658FD080AA08E516A4E7827" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_F43368FE5658FD080AA08E516A4E7827" xlink:type="arc"/>

<link:label id="lab_us-gaap_CommonStockSharesIssued_632673E13D56D24060908E516A4EC2CC_periodEndLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_632673E13D56D24060908E516A4EC2CC" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Ending Balance (in shares) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued_632673E13D56D24060908E516A4EC2CC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued_632673E13D56D24060908E516A4EC2CC" xlink:to="lab_us-gaap_CommonStockSharesIssued_632673E13D56D24060908E516A4EC2CC" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationAbstract_0EE50A5F6D52F08526AF91C027659225_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationAbstract_0EE50A5F6D52F08526AF91C027659225" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Changes in fair value for our risk management activities assets and liabilities that are measured at fair value on a recurring basis using Level 3 inputs </link:label>

<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationAbstract_0EE50A5F6D52F08526AF91C027659225_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationAbstract_0EE50A5F6D52F08526AF91C027659225" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationAbstract" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationAbstract_0EE50A5F6D52F08526AF91C027659225" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationAbstract_0EE50A5F6D52F08526AF91C027659225" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationAbstract_0EE50A5F6D52F08526AF91C027659225" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationRollForward_7F5864C0647646FBDA6F91C02765C2D8_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationRollForward_7F5864C0647646FBDA6F91C02765C2D8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total net gains (losses) realized/unrealized: </link:label>

<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationRollForward_7F5864C0647646FBDA6F91C02765C2D8_label_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationRollForward_7F5864C0647646FBDA6F91C02765C2D8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationRollForward" xlink:label="loc_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationRollForward_7F5864C0647646FBDA6F91C02765C2D8" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs_EA584B74777770BC678891C02765BE15_periodStartLabel_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs_EA584B74777770BC678891C02765BE15" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Net derivative beginning balance </link:label>

<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs_EA584B74777770BC678891C02765BE15_label_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs_EA584B74777770BC678891C02765BE15" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs" xlink:label="loc_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs_EA584B74777770BC678891C02765BE15" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings_051B1E2660D497BBF85D91C027651238_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings_051B1E2660D497BBF85D91C027651238" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Included in earnings </link:label>

<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings_051B1E2660D497BBF85D91C027651238_label_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings_051B1E2660D497BBF85D91C027651238" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings </link:label>

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<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings_051B1E2660D497BBF85D91C027651238" xlink:to="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings_051B1E2660D497BBF85D91C027651238" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisGainLossIncludedInOtherComprehensiveIncomeLoss_6B7FDDDD5CD8D035D4EA91C0276572E4_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisGainLossIncludedInOtherComprehensiveIncomeLoss_6B7FDDDD5CD8D035D4EA91C0276572E4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Included in OCI </link:label>

<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisGainLossIncludedInOtherComprehensiveIncomeLoss_6B7FDDDD5CD8D035D4EA91C0276572E4_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisGainLossIncludedInOtherComprehensiveIncomeLoss_6B7FDDDD5CD8D035D4EA91C0276572E4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Gain (Loss) Included in Other Comprehensive Income (Loss) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisGainLossIncludedInOtherComprehensiveIncomeLoss" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisGainLossIncludedInOtherComprehensiveIncomeLoss_6B7FDDDD5CD8D035D4EA91C0276572E4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisGainLossIncludedInOtherComprehensiveIncomeLoss_6B7FDDDD5CD8D035D4EA91C0276572E4" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisGainLossIncludedInOtherComprehensiveIncomeLoss_6B7FDDDD5CD8D035D4EA91C0276572E4" xlink:type="arc"/>

<link:label id="lab_pnw_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisDerivativeGainLossDeferredAsRegulatoryAssetOrLiability_43AB70422E0D7C2145DE91C0276569DB_terseLabel_en-US" xlink:label="lab_pnw_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisDerivativeGainLossDeferredAsRegulatoryAssetOrLiability_43AB70422E0D7C2145DE91C0276569DB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred as a regulatory asset or liability </link:label>

<link:label id="lab_pnw_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisDerivativeGainLossDeferredAsRegulatoryAssetOrLiability_43AB70422E0D7C2145DE91C0276569DB_label_en-US" xlink:label="lab_pnw_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisDerivativeGainLossDeferredAsRegulatoryAssetOrLiability_43AB70422E0D7C2145DE91C0276569DB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis, Derivative Gain (Loss) Deferred as Regulatory Asset or Liability </link:label>

<link:label id="lab_pnw_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisDerivativeGainLossDeferredAsRegulatoryAssetOrLiability_43AB70422E0D7C2145DE91C0276569DB_documentation_en-US" xlink:label="lab_pnw_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisDerivativeGainLossDeferredAsRegulatoryAssetOrLiability_43AB70422E0D7C2145DE91C0276569DB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents the total gains or losses for the period (realized and unrealized), arising from assets and liabilities measured at fair value on a recurring basis using unobservable inputs (Level 3), which have been deferred as a regulatory asset or liability. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisDerivativeGainLossDeferredAsRegulatoryAssetOrLiability" xlink:label="loc_pnw_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisDerivativeGainLossDeferredAsRegulatoryAssetOrLiability_43AB70422E0D7C2145DE91C0276569DB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisDerivativeGainLossDeferredAsRegulatoryAssetOrLiability_43AB70422E0D7C2145DE91C0276569DB" xlink:to="lab_pnw_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisDerivativeGainLossDeferredAsRegulatoryAssetOrLiability_43AB70422E0D7C2145DE91C0276569DB" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements_951383A57F018EC99F2791C0276500A7_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements_951383A57F018EC99F2791C0276500A7" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Settlements </link:label>

<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements_951383A57F018EC99F2791C0276500A7_label_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements_951383A57F018EC99F2791C0276500A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements" xlink:label="loc_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements_951383A57F018EC99F2791C0276500A7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements_951383A57F018EC99F2791C0276500A7" xlink:to="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements_951383A57F018EC99F2791C0276500A7" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersIntoLevel3_9269E4D3923E7CAAA9D391C02765D5C5_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersIntoLevel3_9269E4D3923E7CAAA9D391C02765D5C5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Transfers into Level 3 from Level 2 </link:label>

<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersIntoLevel3_9269E4D3923E7CAAA9D391C02765D5C5_label_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersIntoLevel3_9269E4D3923E7CAAA9D391C02765D5C5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers into Level 3 </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersIntoLevel3" xlink:label="loc_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersIntoLevel3_9269E4D3923E7CAAA9D391C02765D5C5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersIntoLevel3_9269E4D3923E7CAAA9D391C02765D5C5" xlink:to="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersIntoLevel3_9269E4D3923E7CAAA9D391C02765D5C5" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3_A4A90A185D13CDF3AFDA91C0276672EF_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3_A4A90A185D13CDF3AFDA91C0276672EF" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Transfers from Level 3 into Level 2 </link:label>

<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3_A4A90A185D13CDF3AFDA91C0276672EF_label_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3_A4A90A185D13CDF3AFDA91C0276672EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3 </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3" xlink:label="loc_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3_A4A90A185D13CDF3AFDA91C0276672EF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3_A4A90A185D13CDF3AFDA91C0276672EF" xlink:to="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3_A4A90A185D13CDF3AFDA91C0276672EF" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs_2D804C0C3AF21CA10AF991C02766C305_periodEndLabel_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs_2D804C0C3AF21CA10AF991C02766C305" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Net derivative ending balance </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs" xlink:label="loc_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs_2D804C0C3AF21CA10AF991C02766C305" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs_2D804C0C3AF21CA10AF991C02766C305" xlink:to="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs_2D804C0C3AF21CA10AF991C02766C305" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_96EEF33EAFF24795EBC991C02766B91A_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_96EEF33EAFF24795EBC991C02766B91A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net unrealized gains included in earnings related to instruments still held at end of period </link:label>

<link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_96EEF33EAFF24795EBC991C02766B91A_label_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_96EEF33EAFF24795EBC991C02766B91A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Change in Unrealized Gain (Loss) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss" xlink:label="loc_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_96EEF33EAFF24795EBC991C02766B91A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_96EEF33EAFF24795EBC991C02766B91A" xlink:to="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_96EEF33EAFF24795EBC991C02766B91A" xlink:type="arc"/>

<link:label id="lab_pnw_FairValueMeasurementInterLevelTransfersAmount_9017D1528B0135E8DA8791C02766B146_terseLabel_en-US" xlink:label="lab_pnw_FairValueMeasurementInterLevelTransfersAmount_9017D1528B0135E8DA8791C02766B146" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Significant level 1 transfers </link:label>

<link:label id="lab_pnw_FairValueMeasurementInterLevelTransfersAmount_9017D1528B0135E8DA8791C02766B146_label_en-US" xlink:label="lab_pnw_FairValueMeasurementInterLevelTransfersAmount_9017D1528B0135E8DA8791C02766B146" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Measurement Inter Level Transfers Amount </link:label>

<link:label id="lab_pnw_FairValueMeasurementInterLevelTransfersAmount_9017D1528B0135E8DA8791C02766B146_documentation_en-US" xlink:label="lab_pnw_FairValueMeasurementInterLevelTransfersAmount_9017D1528B0135E8DA8791C02766B146" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The amount of the transfers of assets or liabilities measured on a recurring basis out of Level 1 of the fair value hierarchy into any other hierarchy level. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FairValueMeasurementInterLevelTransfersAmount" xlink:label="loc_pnw_FairValueMeasurementInterLevelTransfersAmount_9017D1528B0135E8DA8791C02766B146" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FairValueMeasurementInterLevelTransfersAmount_9017D1528B0135E8DA8791C02766B146" xlink:to="lab_pnw_FairValueMeasurementInterLevelTransfersAmount_9017D1528B0135E8DA8791C02766B146" xlink:type="arc"/>

<link:label id="lab_us-gaap_NotionalAmountOfDerivativesAbstract_5A0CF3F78B06AC2E3299CCE8D5667B58_terseLabel_en-US" xlink:label="lab_us-gaap_NotionalAmountOfDerivativesAbstract_5A0CF3F78B06AC2E3299CCE8D5667B58" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Outstanding gross notional amount of derivatives </link:label>

<link:label id="lab_us-gaap_NotionalAmountOfDerivativesAbstract_5A0CF3F78B06AC2E3299CCE8D5667B58_label_en-US" xlink:label="lab_us-gaap_NotionalAmountOfDerivativesAbstract_5A0CF3F78B06AC2E3299CCE8D5667B58" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Notional Disclosures [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotionalAmountOfDerivativesAbstract" xlink:label="loc_us-gaap_NotionalAmountOfDerivativesAbstract_5A0CF3F78B06AC2E3299CCE8D5667B58" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotionalAmountOfDerivativesAbstract_5A0CF3F78B06AC2E3299CCE8D5667B58" xlink:to="lab_us-gaap_NotionalAmountOfDerivativesAbstract_5A0CF3F78B06AC2E3299CCE8D5667B58" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeNonmonetaryNotionalAmountEnergyMeasure_33EB1D333C59E89824AECCE8D566B2B6_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNonmonetaryNotionalAmountEnergyMeasure_33EB1D333C59E89824AECCE8D566B2B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Power </link:label>

<link:label id="lab_us-gaap_DerivativeNonmonetaryNotionalAmountEnergyMeasure_33EB1D333C59E89824AECCE8D566B2B6_label_en-US" xlink:label="lab_us-gaap_DerivativeNonmonetaryNotionalAmountEnergyMeasure_33EB1D333C59E89824AECCE8D566B2B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative, Nonmonetary Notional Amount, Energy Measure </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeNonmonetaryNotionalAmountEnergyMeasure" xlink:label="loc_us-gaap_DerivativeNonmonetaryNotionalAmountEnergyMeasure_33EB1D333C59E89824AECCE8D566B2B6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNonmonetaryNotionalAmountEnergyMeasure_33EB1D333C59E89824AECCE8D566B2B6" xlink:to="lab_us-gaap_DerivativeNonmonetaryNotionalAmountEnergyMeasure_33EB1D333C59E89824AECCE8D566B2B6" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeNonmonetaryNotionalAmountVolume_33F1C482ED098B6550D0CCE8D5667451_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNonmonetaryNotionalAmountVolume_33F1C482ED098B6550D0CCE8D5667451" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Gas </link:label>

<link:label id="lab_us-gaap_DerivativeNonmonetaryNotionalAmountVolume_33F1C482ED098B6550D0CCE8D5667451_label_en-US" xlink:label="lab_us-gaap_DerivativeNonmonetaryNotionalAmountVolume_33F1C482ED098B6550D0CCE8D5667451" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative, Nonmonetary Notional Amount, Volume </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeNonmonetaryNotionalAmountVolume" xlink:label="loc_us-gaap_DerivativeNonmonetaryNotionalAmountVolume_33F1C482ED098B6550D0CCE8D5667451" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNonmonetaryNotionalAmountVolume_33F1C482ED098B6550D0CCE8D5667451" xlink:to="lab_us-gaap_DerivativeNonmonetaryNotionalAmountVolume_33F1C482ED098B6550D0CCE8D5667451" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAbstract_052956092F32E03D4BC191C0277F58DC_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAbstract_052956092F32E03D4BC191C0277F58DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Projected benefit obligation and the accumulated benefit obligation for pension plans with an accumulated obligation in excess of plan assets </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAbstract_052956092F32E03D4BC191C0277F58DC_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAbstract_052956092F32E03D4BC191C0277F58DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAbstract" xlink:label="loc_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAbstract_052956092F32E03D4BC191C0277F58DC" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation_392B359B7A880F83EFFD91C0277F91A1_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation_392B359B7A880F83EFFD91C0277F91A1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Projected benefit obligation </link:label>

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<link:label id="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation_7B9456E81D1713CAD79491C0277F94B8_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation_7B9456E81D1713CAD79491C0277F94B8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated benefit obligation </link:label>

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<link:label id="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets_586894C1AF96448F37C291C02780D9D6_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets_586894C1AF96448F37C291C02780D9D6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair value of plan assets </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets_586894C1AF96448F37C291C02780D9D6_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets_586894C1AF96448F37C291C02780D9D6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Fair Value of Plan Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets" xlink:label="loc_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets_586894C1AF96448F37C291C02780D9D6" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LeasesAbstract_868933231EA27A74218791C026CDCE0F_label_en-US" xlink:label="lab_us-gaap_LeasesAbstract_868933231EA27A74218791C026CDCE0F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Leases [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeasesAbstract" xlink:label="loc_us-gaap_LeasesAbstract_868933231EA27A74218791C026CDCE0F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeasesAbstract_868933231EA27A74218791C026CDCE0F" xlink:to="lab_us-gaap_LeasesAbstract_868933231EA27A74218791C026CDCE0F" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_33C56494304A6CB1399791C026CE3C14_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_33C56494304A6CB1399791C026CE3C14" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Estimated future minimum lease payments for Pinnacle West's and APS's operating leases, excluding purchased power agreements </link:label>

<link:label id="lab_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_33C56494304A6CB1399791C026CE3C14_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_33C56494304A6CB1399791C026CE3C14" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_33C56494304A6CB1399791C026CE3C14" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward_44AD0BF1D4C4D9F2E5A991C02505C5E9_verboseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward_44AD0BF1D4C4D9F2E5A991C02505C5E9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Changes in fair value for assets that are measured at fair value on a recurring basis </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward_44AD0BF1D4C4D9F2E5A991C02505C5E9_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward_44AD0BF1D4C4D9F2E5A991C02505C5E9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward" xlink:label="loc_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward_44AD0BF1D4C4D9F2E5A991C02505C5E9" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_9B0E3D03E65D261D119991C025057409_periodStartLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_9B0E3D03E65D261D119991C025057409" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Balance at the beginning of the period </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:label="loc_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_9B0E3D03E65D261D119991C025057409" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld_0F26C482DCD43BA686F591C02505D506_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld_0F26C482DCD43BA686F591C02505D506" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Actual return on assets still held </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld_0F26C482DCD43BA686F591C02505D506_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld_0F26C482DCD43BA686F591C02505D506" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Actual Return on Plan Assets Still Held </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld" xlink:label="loc_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld_0F26C482DCD43BA686F591C02505D506" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlanBusinessCombinationsAndAcquisitionsPlanAssets_D011321E9FE8F1ED8DC491C02505AB37_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanBusinessCombinationsAndAcquisitionsPlanAssets_D011321E9FE8F1ED8DC491C02505AB37" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Purchases </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanBusinessCombinationsAndAcquisitionsPlanAssets_D011321E9FE8F1ED8DC491C02505AB37_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanBusinessCombinationsAndAcquisitionsPlanAssets_D011321E9FE8F1ED8DC491C02505AB37" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Business Combinations and Acquisitions, Plan Assets </link:label>

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<link:label id="lab_us-gaap_DefinedBenefitPlanDivestituresPlanAssets_C08568DD79520B2F57F691C025063273_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanDivestituresPlanAssets_C08568DD79520B2F57F691C025063273" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Sales </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanDivestituresPlanAssets_C08568DD79520B2F57F691C025063273_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanDivestituresPlanAssets_C08568DD79520B2F57F691C025063273" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Divestitures, Plan Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanDivestituresPlanAssets" xlink:label="loc_us-gaap_DefinedBenefitPlanDivestituresPlanAssets_C08568DD79520B2F57F691C025063273" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlanTransfersBetweenMeasurementLevels_E732BF7CDA95A1F60F1491C02506BAFD_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanTransfersBetweenMeasurementLevels_E732BF7CDA95A1F60F1491C02506BAFD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Transfers in and/or out of Level 3 </link:label>

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<link:label id="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_AF5B3A0D4173BA837B0991C02506E46A_periodEndLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_AF5B3A0D4173BA837B0991C02506E46A" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Balance at the end of the period </link:label>

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<link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_4E4F558D564DC0E1C085CC7A1169F86C_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_4E4F558D564DC0E1C085CC7A1169F86C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Description of Business and Basis of Presentation </link:label>

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<link:label id="lab_us-gaap_UseOfEstimates_E18FE43E3A01E45FFBCCCC7A116969DA_terseLabel_en-US" xlink:label="lab_us-gaap_UseOfEstimates_E18FE43E3A01E45FFBCCCC7A116969DA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accounting Records and Use of Estimates </link:label>

<link:label id="lab_us-gaap_UseOfEstimates_E18FE43E3A01E45FFBCCCC7A116969DA_label_en-US" xlink:label="lab_us-gaap_UseOfEstimates_E18FE43E3A01E45FFBCCCC7A116969DA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Use of Estimates, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="loc_us-gaap_UseOfEstimates_E18FE43E3A01E45FFBCCCC7A116969DA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UseOfEstimates_E18FE43E3A01E45FFBCCCC7A116969DA" xlink:to="lab_us-gaap_UseOfEstimates_E18FE43E3A01E45FFBCCCC7A116969DA" xlink:type="arc"/>

<link:label id="lab_pnw_RegulatoryAccountingPolicyTextBlock_F15B1793B6351FF24F9DCC7A1169E86D_terseLabel_en-US" xlink:label="lab_pnw_RegulatoryAccountingPolicyTextBlock_F15B1793B6351FF24F9DCC7A1169E86D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory Accounting </link:label>

<link:label id="lab_pnw_RegulatoryAccountingPolicyTextBlock_F15B1793B6351FF24F9DCC7A1169E86D_label_en-US" xlink:label="lab_pnw_RegulatoryAccountingPolicyTextBlock_F15B1793B6351FF24F9DCC7A1169E86D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Accounting [Policy Text Block] </link:label>

<link:label id="lab_pnw_RegulatoryAccountingPolicyTextBlock_F15B1793B6351FF24F9DCC7A1169E86D_documentation_en-US" xlink:label="lab_pnw_RegulatoryAccountingPolicyTextBlock_F15B1793B6351FF24F9DCC7A1169E86D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Disclosure of accounting policy for regulatory assets and liabilities, which may include the entity's capitalization policy and how impairment of regulatory assets is assessed and recognized. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RegulatoryAccountingPolicyTextBlock" xlink:label="loc_pnw_RegulatoryAccountingPolicyTextBlock_F15B1793B6351FF24F9DCC7A1169E86D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RegulatoryAccountingPolicyTextBlock_F15B1793B6351FF24F9DCC7A1169E86D" xlink:to="lab_pnw_RegulatoryAccountingPolicyTextBlock_F15B1793B6351FF24F9DCC7A1169E86D" xlink:type="arc"/>

<link:label id="lab_us-gaap_RevenueRecognitionSalesOfServices_17E1A13EF081DDB649B9CC7A1169746A_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueRecognitionSalesOfServices_17E1A13EF081DDB649B9CC7A1169746A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Electric Revenues </link:label>

<link:label id="lab_us-gaap_RevenueRecognitionSalesOfServices_17E1A13EF081DDB649B9CC7A1169746A_label_en-US" xlink:label="lab_us-gaap_RevenueRecognitionSalesOfServices_17E1A13EF081DDB649B9CC7A1169746A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Revenue Recognition, Sales of Services [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenueRecognitionSalesOfServices" xlink:label="loc_us-gaap_RevenueRecognitionSalesOfServices_17E1A13EF081DDB649B9CC7A1169746A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueRecognitionSalesOfServices_17E1A13EF081DDB649B9CC7A1169746A" xlink:to="lab_us-gaap_RevenueRecognitionSalesOfServices_17E1A13EF081DDB649B9CC7A1169746A" xlink:type="arc"/>

<link:label id="lab_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_2CE74ECF336CD665DDC6CC7A11691BAF_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_2CE74ECF336CD665DDC6CC7A11691BAF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Allowance for Doubtful Accounts </link:label>

<link:label id="lab_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_2CE74ECF336CD665DDC6CC7A11691BAF_label_en-US" xlink:label="lab_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_2CE74ECF336CD665DDC6CC7A11691BAF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:label="loc_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_2CE74ECF336CD665DDC6CC7A11691BAF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_2CE74ECF336CD665DDC6CC7A11691BAF" xlink:to="lab_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_2CE74ECF336CD665DDC6CC7A11691BAF" xlink:type="arc"/>

<link:label id="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_A39182CD0044003A9498CC7A1169C65C_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_A39182CD0044003A9498CC7A1169C65C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment </link:label>

<link:label id="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_A39182CD0044003A9498CC7A1169C65C_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_A39182CD0044003A9498CC7A1169C65C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_A39182CD0044003A9498CC7A1169C65C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_A39182CD0044003A9498CC7A1169C65C" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_A39182CD0044003A9498CC7A1169C65C" xlink:type="arc"/>

<link:label id="lab_us-gaap_AllowanceForFundsUsedDuringConstructionPolicy_03C2F55FE3F907D5F594CC7A11696785_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForFundsUsedDuringConstructionPolicy_03C2F55FE3F907D5F594CC7A11696785" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Allowance for Funds Used During Construction </link:label>

<link:label id="lab_us-gaap_AllowanceForFundsUsedDuringConstructionPolicy_03C2F55FE3F907D5F594CC7A11696785_label_en-US" xlink:label="lab_us-gaap_AllowanceForFundsUsedDuringConstructionPolicy_03C2F55FE3F907D5F594CC7A11696785" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Allowance for Funds Used During Construction, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForFundsUsedDuringConstructionPolicy" xlink:label="loc_us-gaap_AllowanceForFundsUsedDuringConstructionPolicy_03C2F55FE3F907D5F594CC7A11696785" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForFundsUsedDuringConstructionPolicy_03C2F55FE3F907D5F594CC7A11696785" xlink:to="lab_us-gaap_AllowanceForFundsUsedDuringConstructionPolicy_03C2F55FE3F907D5F594CC7A11696785" xlink:type="arc"/>

<link:label id="lab_us-gaap_InventoryPolicyTextBlock_323A75E83C42314B8E3ACC7A11691D35_terseLabel_en-US" xlink:label="lab_us-gaap_InventoryPolicyTextBlock_323A75E83C42314B8E3ACC7A11691D35" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Materials and Supplies </link:label>

<link:label id="lab_us-gaap_InventoryPolicyTextBlock_323A75E83C42314B8E3ACC7A11691D35_label_en-US" xlink:label="lab_us-gaap_InventoryPolicyTextBlock_323A75E83C42314B8E3ACC7A11691D35" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Inventory, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryPolicyTextBlock" xlink:label="loc_us-gaap_InventoryPolicyTextBlock_323A75E83C42314B8E3ACC7A11691D35" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InventoryPolicyTextBlock_323A75E83C42314B8E3ACC7A11691D35" xlink:to="lab_us-gaap_InventoryPolicyTextBlock_323A75E83C42314B8E3ACC7A11691D35" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_65644CD7AF1D6DCFDDD0CC7A11690813_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_65644CD7AF1D6DCFDDD0CC7A11690813" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value Measurements </link:label>

<link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_65644CD7AF1D6DCFDDD0CC7A11690813_label_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_65644CD7AF1D6DCFDDD0CC7A11690813" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value of Financial Instruments, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:label="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy_65644CD7AF1D6DCFDDD0CC7A11690813" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy_65644CD7AF1D6DCFDDD0CC7A11690813" xlink:to="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_65644CD7AF1D6DCFDDD0CC7A11690813" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativesPolicyTextBlock_47D860A1F7DDF0705398CC7A116979DE_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativesPolicyTextBlock_47D860A1F7DDF0705398CC7A116979DE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative Accounting </link:label>

<link:label id="lab_us-gaap_DerivativesPolicyTextBlock_47D860A1F7DDF0705398CC7A116979DE_label_en-US" xlink:label="lab_us-gaap_DerivativesPolicyTextBlock_47D860A1F7DDF0705398CC7A116979DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivatives, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativesPolicyTextBlock" xlink:label="loc_us-gaap_DerivativesPolicyTextBlock_47D860A1F7DDF0705398CC7A116979DE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativesPolicyTextBlock_47D860A1F7DDF0705398CC7A116979DE" xlink:to="lab_us-gaap_DerivativesPolicyTextBlock_47D860A1F7DDF0705398CC7A116979DE" xlink:type="arc"/>

<link:label id="lab_pnw_LossContingenciesAndEnvironmentalLiabilitiesPolicyTextBlock_D992C8CF5BF663418EEECC7A1169B301_terseLabel_en-US" xlink:label="lab_pnw_LossContingenciesAndEnvironmentalLiabilitiesPolicyTextBlock_D992C8CF5BF663418EEECC7A1169B301" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loss Contingencies and Environmental Liabilities </link:label>

<link:label id="lab_pnw_LossContingenciesAndEnvironmentalLiabilitiesPolicyTextBlock_D992C8CF5BF663418EEECC7A1169B301_label_en-US" xlink:label="lab_pnw_LossContingenciesAndEnvironmentalLiabilitiesPolicyTextBlock_D992C8CF5BF663418EEECC7A1169B301" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss Contingencies and Environmental Liabilities [Policy Text Block] </link:label>

<link:label id="lab_pnw_LossContingenciesAndEnvironmentalLiabilitiesPolicyTextBlock_D992C8CF5BF663418EEECC7A1169B301_documentation_en-US" xlink:label="lab_pnw_LossContingenciesAndEnvironmentalLiabilitiesPolicyTextBlock_D992C8CF5BF663418EEECC7A1169B301" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Disclosure of accounting policy for loss contingencies and environmental liabilities. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LossContingenciesAndEnvironmentalLiabilitiesPolicyTextBlock" xlink:label="loc_pnw_LossContingenciesAndEnvironmentalLiabilitiesPolicyTextBlock_D992C8CF5BF663418EEECC7A1169B301" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_LossContingenciesAndEnvironmentalLiabilitiesPolicyTextBlock_D992C8CF5BF663418EEECC7A1169B301" xlink:to="lab_pnw_LossContingenciesAndEnvironmentalLiabilitiesPolicyTextBlock_D992C8CF5BF663418EEECC7A1169B301" xlink:type="arc"/>

<link:label id="lab_us-gaap_PensionAndOtherPostretirementPlansPolicy_6663BFA11C33D6A51F5FCC7A11693298_terseLabel_en-US" xlink:label="lab_us-gaap_PensionAndOtherPostretirementPlansPolicy_6663BFA11C33D6A51F5FCC7A11693298" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Retirement Plans and Other Postretirement Benefits </link:label>

<link:label id="lab_us-gaap_PensionAndOtherPostretirementPlansPolicy_6663BFA11C33D6A51F5FCC7A11693298_label_en-US" xlink:label="lab_us-gaap_PensionAndOtherPostretirementPlansPolicy_6663BFA11C33D6A51F5FCC7A11693298" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pension and Other Postretirement Plans, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PensionAndOtherPostretirementPlansPolicy" xlink:label="loc_us-gaap_PensionAndOtherPostretirementPlansPolicy_6663BFA11C33D6A51F5FCC7A11693298" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PensionAndOtherPostretirementPlansPolicy_6663BFA11C33D6A51F5FCC7A11693298" xlink:to="lab_us-gaap_PensionAndOtherPostretirementPlansPolicy_6663BFA11C33D6A51F5FCC7A11693298" xlink:type="arc"/>

<link:label id="lab_us-gaap_CapitalizationAndAmortizationOfFuelCostsPolicy_F5E98F5A0CAC5B0E6A53CC7A116981CF_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalizationAndAmortizationOfFuelCostsPolicy_F5E98F5A0CAC5B0E6A53CC7A116981CF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Nuclear Fuel </link:label>

<link:label id="lab_us-gaap_CapitalizationAndAmortizationOfFuelCostsPolicy_F5E98F5A0CAC5B0E6A53CC7A116981CF_label_en-US" xlink:label="lab_us-gaap_CapitalizationAndAmortizationOfFuelCostsPolicy_F5E98F5A0CAC5B0E6A53CC7A116981CF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Capitalization and Amortization of Fuel Costs, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalizationAndAmortizationOfFuelCostsPolicy" xlink:label="loc_us-gaap_CapitalizationAndAmortizationOfFuelCostsPolicy_F5E98F5A0CAC5B0E6A53CC7A116981CF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalizationAndAmortizationOfFuelCostsPolicy_F5E98F5A0CAC5B0E6A53CC7A116981CF" xlink:to="lab_us-gaap_CapitalizationAndAmortizationOfFuelCostsPolicy_F5E98F5A0CAC5B0E6A53CC7A116981CF" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_EC7ED4B38B252C067D72CC7A1169FBE5_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock_EC7ED4B38B252C067D72CC7A1169FBE5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income Taxes </link:label>

<link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_EC7ED4B38B252C067D72CC7A1169FBE5_label_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock_EC7ED4B38B252C067D72CC7A1169FBE5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock_EC7ED4B38B252C067D72CC7A1169FBE5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxPolicyTextBlock_EC7ED4B38B252C067D72CC7A1169FBE5" xlink:to="lab_us-gaap_IncomeTaxPolicyTextBlock_EC7ED4B38B252C067D72CC7A1169FBE5" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_C85B1838012E3768ED0ECC7A116A6768_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_C85B1838012E3768ED0ECC7A116A6768" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash and Cash Equivalents </link:label>

<link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_C85B1838012E3768ED0ECC7A116A6768_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_C85B1838012E3768ED0ECC7A116A6768" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash and Cash Equivalents, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock_C85B1838012E3768ED0ECC7A116A6768" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock_C85B1838012E3768ED0ECC7A116A6768" xlink:to="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_C85B1838012E3768ED0ECC7A116A6768" xlink:type="arc"/>

<link:label id="lab_us-gaap_IntangibleAssetsFiniteLivedPolicy_546325B934CBBA9B26C2CC7A116A4531_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsFiniteLivedPolicy_546325B934CBBA9B26C2CC7A116A4531" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Intangible Assets </link:label>

<link:label id="lab_us-gaap_IntangibleAssetsFiniteLivedPolicy_546325B934CBBA9B26C2CC7A116A4531_label_en-US" xlink:label="lab_us-gaap_IntangibleAssetsFiniteLivedPolicy_546325B934CBBA9B26C2CC7A116A4531" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Intangible Assets, Finite-Lived, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:label="loc_us-gaap_IntangibleAssetsFiniteLivedPolicy_546325B934CBBA9B26C2CC7A116A4531" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InvestmentPolicyTextBlock_E0EEC16C4A152AF91EE8CC7A116AAD88_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentPolicyTextBlock_E0EEC16C4A152AF91EE8CC7A116AAD88" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investments </link:label>

<link:label id="lab_us-gaap_InvestmentPolicyTextBlock_E0EEC16C4A152AF91EE8CC7A116AAD88_label_en-US" xlink:label="lab_us-gaap_InvestmentPolicyTextBlock_E0EEC16C4A152AF91EE8CC7A116AAD88" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investment, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentPolicyTextBlock" xlink:label="loc_us-gaap_InvestmentPolicyTextBlock_E0EEC16C4A152AF91EE8CC7A116AAD88" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentPolicyTextBlock_E0EEC16C4A152AF91EE8CC7A116AAD88" xlink:to="lab_us-gaap_InvestmentPolicyTextBlock_E0EEC16C4A152AF91EE8CC7A116AAD88" xlink:type="arc"/>

<link:label id="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock_7168F267216DA4BDDEF3CC7A116A0042_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock_7168F267216DA4BDDEF3CC7A116A0042" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Business Segments </link:label>

<link:label id="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock_7168F267216DA4BDDEF3CC7A116A0042_label_en-US" xlink:label="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock_7168F267216DA4BDDEF3CC7A116A0042" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Segment Reporting, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:label="loc_us-gaap_SegmentReportingPolicyPolicyTextBlock_7168F267216DA4BDDEF3CC7A116A0042" xlink:type="locator"/>

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<link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_35D6FF409AEFA6443F95CC7A116AFB1E_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_35D6FF409AEFA6443F95CC7A116AFB1E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> New Accounting Standards </link:label>

<link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_35D6FF409AEFA6443F95CC7A116AFB1E_label_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_35D6FF409AEFA6443F95CC7A116AFB1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> New Accounting Pronouncements, Policy [Policy Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_35D6FF409AEFA6443F95CC7A116AFB1E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_35D6FF409AEFA6443F95CC7A116AFB1E" xlink:to="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_35D6FF409AEFA6443F95CC7A116AFB1E" xlink:type="arc"/>

<link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_A2430206283513F356CDECCAEDF6C184_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract_A2430206283513F356CDECCAEDF6C184" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement of Cash Flows [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract_A2430206283513F356CDECCAEDF6C184" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_A2430206283513F356CDECCAEDF6C184" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract_A2430206283513F356CDECCAEDF6C184" xlink:type="arc"/>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_E318141E538BE6493F2EECCAEDF7AC30_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_E318141E538BE6493F2EECCAEDF7AC30" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> CASH FLOWS FROM OPERATING ACTIVITIES </link:label>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_E318141E538BE6493F2EECCAEDF7AC30_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_E318141E538BE6493F2EECCAEDF7AC30" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Operating Activities [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_E318141E538BE6493F2EECCAEDF7AC30" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_E318141E538BE6493F2EECCAEDF7AC30" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_E318141E538BE6493F2EECCAEDF7AC30" xlink:type="arc"/>

<link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_A9A4C6DF40B2E2058EDBECCAEDF7BEAB_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_A9A4C6DF40B2E2058EDBECCAEDF7BEAB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Adjustments to reconcile net income to net cash provided by operating activities: </link:label>

<link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_A9A4C6DF40B2E2058EDBECCAEDF7BEAB_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_A9A4C6DF40B2E2058EDBECCAEDF7BEAB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_A9A4C6DF40B2E2058EDBECCAEDF7BEAB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_A9A4C6DF40B2E2058EDBECCAEDF7BEAB" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_A9A4C6DF40B2E2058EDBECCAEDF7BEAB" xlink:type="arc"/>

<link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_9AF2ABB30D33181B7A57ECCAEDF7C922_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization_9AF2ABB30D33181B7A57ECCAEDF7C922" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Depreciation and amortization including nuclear fuel </link:label>

<link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_9AF2ABB30D33181B7A57ECCAEDF7C922_label_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization_9AF2ABB30D33181B7A57ECCAEDF7C922" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Depreciation, Depletion and Amortization </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization_9AF2ABB30D33181B7A57ECCAEDF7C922" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationDepletionAndAmortization_9AF2ABB30D33181B7A57ECCAEDF7C922" xlink:to="lab_us-gaap_DepreciationDepletionAndAmortization_9AF2ABB30D33181B7A57ECCAEDF7C922" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInRegulatoryClauseRevenue_F462D912C9B03FFAB38FECCAEDF75B23_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInRegulatoryClauseRevenue_F462D912C9B03FFAB38FECCAEDF75B23" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred fuel and purchased power </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInRegulatoryClauseRevenue_F462D912C9B03FFAB38FECCAEDF75B23_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInRegulatoryClauseRevenue_F462D912C9B03FFAB38FECCAEDF75B23" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Regulatory Clause Revenue </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInRegulatoryClauseRevenue" xlink:label="loc_us-gaap_IncreaseDecreaseInRegulatoryClauseRevenue_F462D912C9B03FFAB38FECCAEDF75B23" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInRegulatoryClauseRevenue_F462D912C9B03FFAB38FECCAEDF75B23" xlink:to="lab_us-gaap_IncreaseDecreaseInRegulatoryClauseRevenue_F462D912C9B03FFAB38FECCAEDF75B23" xlink:type="arc"/>

<link:label id="lab_pnw_IncreaseDecreaseDeferredFuelAndPurchasedPowerAmortization_F4458E0C1BB87686EAB3ECCAEDF75574_terseLabel_en-US" xlink:label="lab_pnw_IncreaseDecreaseDeferredFuelAndPurchasedPowerAmortization_F4458E0C1BB87686EAB3ECCAEDF75574" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred fuel and purchased power amortization </link:label>

<link:label id="lab_pnw_IncreaseDecreaseDeferredFuelAndPurchasedPowerAmortization_F4458E0C1BB87686EAB3ECCAEDF75574_label_en-US" xlink:label="lab_pnw_IncreaseDecreaseDeferredFuelAndPurchasedPowerAmortization_F4458E0C1BB87686EAB3ECCAEDF75574" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) Deferred Fuel and Purchased Power Amortization </link:label>

<link:label id="lab_pnw_IncreaseDecreaseDeferredFuelAndPurchasedPowerAmortization_F4458E0C1BB87686EAB3ECCAEDF75574_documentation_en-US" xlink:label="lab_pnw_IncreaseDecreaseDeferredFuelAndPurchasedPowerAmortization_F4458E0C1BB87686EAB3ECCAEDF75574" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The amortization of deferred fuel and purchased power costs. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_IncreaseDecreaseDeferredFuelAndPurchasedPowerAmortization" xlink:label="loc_pnw_IncreaseDecreaseDeferredFuelAndPurchasedPowerAmortization_F4458E0C1BB87686EAB3ECCAEDF75574" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_57CC5E6EC91B6BD82B5CECCAEDF7BC5B_negatedLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_57CC5E6EC91B6BD82B5CECCAEDF7BC5B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Allowance for equity funds used during construction </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity" xlink:label="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_57CC5E6EC91B6BD82B5CECCAEDF7BC5B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_57CC5E6EC91B6BD82B5CECCAEDF7BC5B" xlink:to="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity_57CC5E6EC91B6BD82B5CECCAEDF7BC5B" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_147DADAFE323282A44C3ECCAEDF8D744_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_147DADAFE323282A44C3ECCAEDF8D744" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred income taxes </link:label>

<link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_147DADAFE323282A44C3ECCAEDF8D744_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_147DADAFE323282A44C3ECCAEDF8D744" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Income Tax Expense (Benefit) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_147DADAFE323282A44C3ECCAEDF8D744" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_147DADAFE323282A44C3ECCAEDF8D744" xlink:to="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_147DADAFE323282A44C3ECCAEDF8D744" xlink:type="arc"/>

<link:label id="lab_us-gaap_InvestmentTaxCredit_7D182AF1F420AEF286B0ECCAEDF8EA4C_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentTaxCredit_7D182AF1F420AEF286B0ECCAEDF8EA4C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred investment tax credit </link:label>

<link:label id="lab_us-gaap_InvestmentTaxCredit_7D182AF1F420AEF286B0ECCAEDF8EA4C_label_en-US" xlink:label="lab_us-gaap_InvestmentTaxCredit_7D182AF1F420AEF286B0ECCAEDF8EA4C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investment Tax Credit </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentTaxCredit" xlink:label="loc_us-gaap_InvestmentTaxCredit_7D182AF1F420AEF286B0ECCAEDF8EA4C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentTaxCredit_7D182AF1F420AEF286B0ECCAEDF8EA4C" xlink:to="lab_us-gaap_InvestmentTaxCredit_7D182AF1F420AEF286B0ECCAEDF8EA4C" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnrealizedGainLossOnDerivatives_E0B231F97F9B37F4C74AECCAEDF83CC0_negatedLabel_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivatives_E0B231F97F9B37F4C74AECCAEDF83CC0" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Change in derivative instruments fair value </link:label>

<link:label id="lab_us-gaap_UnrealizedGainLossOnDerivatives_E0B231F97F9B37F4C74AECCAEDF83CC0_label_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivatives_E0B231F97F9B37F4C74AECCAEDF83CC0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrealized Gain (Loss) on Derivatives </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrealizedGainLossOnDerivatives" xlink:label="loc_us-gaap_UnrealizedGainLossOnDerivatives_E0B231F97F9B37F4C74AECCAEDF83CC0" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_81259319A9FEB6AB40A5ECCAEDF8ED04_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_81259319A9FEB6AB40A5ECCAEDF8ED04" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in derivative instruments fair value </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_81259319A9FEB6AB40A5ECCAEDF8ED04_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_81259319A9FEB6AB40A5ECCAEDF8ED04" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Operating Capital [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_81259319A9FEB6AB40A5ECCAEDF8ED04" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncreaseDecreaseInReceivables_CC85B6D8883D8A9AA8D1ECCAEDF852AC_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInReceivables_CC85B6D8883D8A9AA8D1ECCAEDF852AC" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Customer and other receivables </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInReceivables_CC85B6D8883D8A9AA8D1ECCAEDF852AC_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInReceivables_CC85B6D8883D8A9AA8D1ECCAEDF852AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Receivables </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInReceivables" xlink:label="loc_us-gaap_IncreaseDecreaseInReceivables_CC85B6D8883D8A9AA8D1ECCAEDF852AC" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncreaseDecreaseInUnbilledReceivables_AD26AF81596B4CD1E71BECCAEDF83EEA_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInUnbilledReceivables_AD26AF81596B4CD1E71BECCAEDF83EEA" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Accrued unbilled revenues </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInUnbilledReceivables_AD26AF81596B4CD1E71BECCAEDF83EEA_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInUnbilledReceivables_AD26AF81596B4CD1E71BECCAEDF83EEA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Unbilled Receivables </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInUnbilledReceivables" xlink:label="loc_us-gaap_IncreaseDecreaseInUnbilledReceivables_AD26AF81596B4CD1E71BECCAEDF83EEA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInUnbilledReceivables_AD26AF81596B4CD1E71BECCAEDF83EEA" xlink:to="lab_us-gaap_IncreaseDecreaseInUnbilledReceivables_AD26AF81596B4CD1E71BECCAEDF83EEA" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInInventories_D746F1E930F43E432205ECCAEDF85DB7_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInInventories_D746F1E930F43E432205ECCAEDF85DB7" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Materials, supplies and fossil fuel </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInInventories_D746F1E930F43E432205ECCAEDF85DB7_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInInventories_D746F1E930F43E432205ECCAEDF85DB7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Inventories </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="loc_us-gaap_IncreaseDecreaseInInventories_D746F1E930F43E432205ECCAEDF85DB7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInInventories_D746F1E930F43E432205ECCAEDF85DB7" xlink:to="lab_us-gaap_IncreaseDecreaseInInventories_D746F1E930F43E432205ECCAEDF85DB7" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_1CBF8F08863A82DD0C8DECCAEDF8A64D_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_1CBF8F08863A82DD0C8DECCAEDF8A64D" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Income tax receivable </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_1CBF8F08863A82DD0C8DECCAEDF8A64D_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_1CBF8F08863A82DD0C8DECCAEDF8A64D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Income Taxes Receivable </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInIncomeTaxesReceivable" xlink:label="loc_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_1CBF8F08863A82DD0C8DECCAEDF8A64D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_1CBF8F08863A82DD0C8DECCAEDF8A64D" xlink:to="lab_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_1CBF8F08863A82DD0C8DECCAEDF8A64D" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInPrepaidExpense_97064C12954DA1D16586ECCAEDF90EC3_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInPrepaidExpense_97064C12954DA1D16586ECCAEDF90EC3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Other current assets </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInPrepaidExpense_97064C12954DA1D16586ECCAEDF90EC3_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInPrepaidExpense_97064C12954DA1D16586ECCAEDF90EC3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Prepaid Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidExpense" xlink:label="loc_us-gaap_IncreaseDecreaseInPrepaidExpense_97064C12954DA1D16586ECCAEDF90EC3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInPrepaidExpense_97064C12954DA1D16586ECCAEDF90EC3" xlink:to="lab_us-gaap_IncreaseDecreaseInPrepaidExpense_97064C12954DA1D16586ECCAEDF90EC3" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayable_58BC7619E969F6C5A192ECCAEDF962D0_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayable_58BC7619E969F6C5A192ECCAEDF962D0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accounts payable </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayable_58BC7619E969F6C5A192ECCAEDF962D0_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayable_58BC7619E969F6C5A192ECCAEDF962D0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Accounts Payable </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayable_58BC7619E969F6C5A192ECCAEDF962D0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccountsPayable_58BC7619E969F6C5A192ECCAEDF962D0" xlink:to="lab_us-gaap_IncreaseDecreaseInAccountsPayable_58BC7619E969F6C5A192ECCAEDF962D0" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInAccruedTaxesPayable_33333FD886A5CD0EDA85ECCAEDF95859_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedTaxesPayable_33333FD886A5CD0EDA85ECCAEDF95859" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accrued taxes </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInAccruedTaxesPayable_33333FD886A5CD0EDA85ECCAEDF95859_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedTaxesPayable_33333FD886A5CD0EDA85ECCAEDF95859" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Accrued Taxes Payable </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedTaxesPayable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccruedTaxesPayable_33333FD886A5CD0EDA85ECCAEDF95859" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccruedTaxesPayable_33333FD886A5CD0EDA85ECCAEDF95859" xlink:to="lab_us-gaap_IncreaseDecreaseInAccruedTaxesPayable_33333FD886A5CD0EDA85ECCAEDF95859" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_235E600C393508A97C46ECCAEDF9EEEA_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_235E600C393508A97C46ECCAEDF9EEEA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other current liabilities </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_235E600C393508A97C46ECCAEDF9EEEA_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_235E600C393508A97C46ECCAEDF9EEEA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Other Accrued Liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_235E600C393508A97C46ECCAEDF9EEEA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_235E600C393508A97C46ECCAEDF9EEEA" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_235E600C393508A97C46ECCAEDF9EEEA" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInDepositOtherAssets_7E095E5D8C7CF5C8FFF3ECCAEDF9C1C4_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDepositOtherAssets_7E095E5D8C7CF5C8FFF3ECCAEDF9C1C4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Change in margin and collateral accounts — assets </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInDepositOtherAssets_7E095E5D8C7CF5C8FFF3ECCAEDF9C1C4_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDepositOtherAssets_7E095E5D8C7CF5C8FFF3ECCAEDF9C1C4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Deposit Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInDepositOtherAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInDepositOtherAssets_7E095E5D8C7CF5C8FFF3ECCAEDF9C1C4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInDepositOtherAssets_7E095E5D8C7CF5C8FFF3ECCAEDF9C1C4" xlink:to="lab_us-gaap_IncreaseDecreaseInDepositOtherAssets_7E095E5D8C7CF5C8FFF3ECCAEDF9C1C4" xlink:type="arc"/>

<link:label id="lab_pnw_ChangeInMarginAndCollateralAccountsLiabilities_A119B4435E8992018679ECCAEDF93A49_terseLabel_en-US" xlink:label="lab_pnw_ChangeInMarginAndCollateralAccountsLiabilities_A119B4435E8992018679ECCAEDF93A49" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in margin and collateral accounts — liabilities </link:label>

<link:label id="lab_pnw_ChangeInMarginAndCollateralAccountsLiabilities_A119B4435E8992018679ECCAEDF93A49_label_en-US" xlink:label="lab_pnw_ChangeInMarginAndCollateralAccountsLiabilities_A119B4435E8992018679ECCAEDF93A49" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Change in Margin and Collateral Accounts Liabilities </link:label>

<link:label id="lab_pnw_ChangeInMarginAndCollateralAccountsLiabilities_A119B4435E8992018679ECCAEDF93A49_documentation_en-US" xlink:label="lab_pnw_ChangeInMarginAndCollateralAccountsLiabilities_A119B4435E8992018679ECCAEDF93A49" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The aggregate net change during the reporting period in moneys received as security, collateral, or margin deposits. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ChangeInMarginAndCollateralAccountsLiabilities" xlink:label="loc_pnw_ChangeInMarginAndCollateralAccountsLiabilities_A119B4435E8992018679ECCAEDF93A49" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ChangeInMarginAndCollateralAccountsLiabilities_A119B4435E8992018679ECCAEDF93A49" xlink:to="lab_pnw_ChangeInMarginAndCollateralAccountsLiabilities_A119B4435E8992018679ECCAEDF93A49" xlink:type="arc"/>

<link:label id="lab_pnw_IncreaseDecreaseinIncomeTaxesReceivableNoncurrent_A6599FE717842784B9D8ECCAEDF96D69_negatedTerseLabel_en-US" xlink:label="lab_pnw_IncreaseDecreaseinIncomeTaxesReceivableNoncurrent_A6599FE717842784B9D8ECCAEDF96D69" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Change in long-term income tax receivable </link:label>

<link:label id="lab_pnw_IncreaseDecreaseinIncomeTaxesReceivableNoncurrent_A6599FE717842784B9D8ECCAEDF96D69_label_en-US" xlink:label="lab_pnw_IncreaseDecreaseinIncomeTaxesReceivableNoncurrent_A6599FE717842784B9D8ECCAEDF96D69" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Income Taxes Receivable, Noncurrent </link:label>

<link:label id="lab_pnw_IncreaseDecreaseinIncomeTaxesReceivableNoncurrent_A6599FE717842784B9D8ECCAEDF96D69_documentation_en-US" xlink:label="lab_pnw_IncreaseDecreaseinIncomeTaxesReceivableNoncurrent_A6599FE717842784B9D8ECCAEDF96D69" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The increase (decrease) during the reporting period in non-current portion of income taxes receivable, which represents the amount due from tax authorities for refunds of overpayments or recoveries of income taxes paid. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_IncreaseDecreaseinIncomeTaxesReceivableNoncurrent" xlink:label="loc_pnw_IncreaseDecreaseinIncomeTaxesReceivableNoncurrent_A6599FE717842784B9D8ECCAEDF96D69" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_IncreaseDecreaseinIncomeTaxesReceivableNoncurrent_A6599FE717842784B9D8ECCAEDF96D69" xlink:to="lab_pnw_IncreaseDecreaseinIncomeTaxesReceivableNoncurrent_A6599FE717842784B9D8ECCAEDF96D69" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsPeriodIncreaseDecrease_1556AC8397EF2EFF800BECCAEDFA91D4_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsPeriodIncreaseDecrease_1556AC8397EF2EFF800BECCAEDFA91D4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in unrecognized tax benefits </link:label>

<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsPeriodIncreaseDecrease_1556AC8397EF2EFF800BECCAEDFA91D4_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsPeriodIncreaseDecrease_1556AC8397EF2EFF800BECCAEDFA91D4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecognized Tax Benefits, Period Increase (Decrease) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsPeriodIncreaseDecrease" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsPeriodIncreaseDecrease_1556AC8397EF2EFF800BECCAEDFA91D4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefitsPeriodIncreaseDecrease_1556AC8397EF2EFF800BECCAEDFA91D4" xlink:to="lab_us-gaap_UnrecognizedTaxBenefitsPeriodIncreaseDecrease_1556AC8397EF2EFF800BECCAEDFA91D4" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_10557E9197DD904965E8ECCAEDFA26FC_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_10557E9197DD904965E8ECCAEDFA26FC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in long-term regulatory liabilities </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_10557E9197DD904965E8ECCAEDFA26FC_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_10557E9197DD904965E8ECCAEDFA26FC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Regulatory Liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInRegulatoryLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_10557E9197DD904965E8ECCAEDFA26FC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_10557E9197DD904965E8ECCAEDFA26FC" xlink:to="lab_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_10557E9197DD904965E8ECCAEDFA26FC" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_8B83184E1ED4D324D7F7ECCAEDFA079C_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_8B83184E1ED4D324D7F7ECCAEDFA079C" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Change in other long-term assets </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_8B83184E1ED4D324D7F7ECCAEDFA079C_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_8B83184E1ED4D324D7F7ECCAEDFA079C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Other Operating Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_8B83184E1ED4D324D7F7ECCAEDFA079C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_8B83184E1ED4D324D7F7ECCAEDFA079C" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_8B83184E1ED4D324D7F7ECCAEDFA079C" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_236603191BCDD63F6CC2ECCAEDFA8EAF_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_236603191BCDD63F6CC2ECCAEDFA8EAF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in other long-term liabilities </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_236603191BCDD63F6CC2ECCAEDFA8EAF_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_236603191BCDD63F6CC2ECCAEDFA8EAF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Other Operating Liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_236603191BCDD63F6CC2ECCAEDFA8EAF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_236603191BCDD63F6CC2ECCAEDFA8EAF" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_236603191BCDD63F6CC2ECCAEDFA8EAF" xlink:type="arc"/>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_2CB367B3BDCC79E3DBA9ECCAEDFA5D3E_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_2CB367B3BDCC79E3DBA9ECCAEDFA5D3E" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net cash flow provided by operating activities </link:label>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_2CB367B3BDCC79E3DBA9ECCAEDFA5D3E_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_2CB367B3BDCC79E3DBA9ECCAEDFA5D3E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Operating Activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2CB367B3BDCC79E3DBA9ECCAEDFA5D3E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2CB367B3BDCC79E3DBA9ECCAEDFA5D3E" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_2CB367B3BDCC79E3DBA9ECCAEDFA5D3E" xlink:type="arc"/>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_65F7C6A690103AE757B3ECCAEDFB210E_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_65F7C6A690103AE757B3ECCAEDFB210E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> CASH FLOWS FROM INVESTING ACTIVITIES </link:label>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_65F7C6A690103AE757B3ECCAEDFB210E_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_65F7C6A690103AE757B3ECCAEDFB210E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Investing Activities [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_65F7C6A690103AE757B3ECCAEDFB210E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_65F7C6A690103AE757B3ECCAEDFB210E" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_65F7C6A690103AE757B3ECCAEDFB210E" xlink:type="arc"/>

<link:label id="lab_us-gaap_PaymentsToAcquireProductiveAssets_0F2BF04A11789D6ED083ECCAEDFBE48C_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireProductiveAssets_0F2BF04A11789D6ED083ECCAEDFBE48C" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Capital expenditures </link:label>

<link:label id="lab_us-gaap_PaymentsToAcquireProductiveAssets_0F2BF04A11789D6ED083ECCAEDFBE48C_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireProductiveAssets_0F2BF04A11789D6ED083ECCAEDFBE48C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments to Acquire Productive Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:label="loc_us-gaap_PaymentsToAcquireProductiveAssets_0F2BF04A11789D6ED083ECCAEDFBE48C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireProductiveAssets_0F2BF04A11789D6ED083ECCAEDFBE48C" xlink:to="lab_us-gaap_PaymentsToAcquireProductiveAssets_0F2BF04A11789D6ED083ECCAEDFBE48C" xlink:type="arc"/>

<link:label id="lab_us-gaap_ProceedsFromContributionInAidOfConstruction_F3D3EED50CFD629D1448ECCAEDFB8C9A_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromContributionInAidOfConstruction_F3D3EED50CFD629D1448ECCAEDFB8C9A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Contributions in aid of construction </link:label>

<link:label id="lab_us-gaap_ProceedsFromContributionInAidOfConstruction_F3D3EED50CFD629D1448ECCAEDFB8C9A_label_en-US" xlink:label="lab_us-gaap_ProceedsFromContributionInAidOfConstruction_F3D3EED50CFD629D1448ECCAEDFB8C9A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Contribution in Aid of Construction </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromContributionInAidOfConstruction" xlink:label="loc_us-gaap_ProceedsFromContributionInAidOfConstruction_F3D3EED50CFD629D1448ECCAEDFB8C9A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromContributionInAidOfConstruction_F3D3EED50CFD629D1448ECCAEDFB8C9A" xlink:to="lab_us-gaap_ProceedsFromContributionInAidOfConstruction_F3D3EED50CFD629D1448ECCAEDFB8C9A" xlink:type="arc"/>

<link:label id="lab_us-gaap_AllowanceForFundsUsedDuringConstructionInvestingActivities_0EE21140E8A9E08B7878ECCAEDFB85A6_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForFundsUsedDuringConstructionInvestingActivities_0EE21140E8A9E08B7878ECCAEDFB85A6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Allowance for borrowed funds used during construction </link:label>

<link:label id="lab_us-gaap_AllowanceForFundsUsedDuringConstructionInvestingActivities_0EE21140E8A9E08B7878ECCAEDFB85A6_label_en-US" xlink:label="lab_us-gaap_AllowanceForFundsUsedDuringConstructionInvestingActivities_0EE21140E8A9E08B7878ECCAEDFB85A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Allowance for Funds Used During Construction, Investing Activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForFundsUsedDuringConstructionInvestingActivities" xlink:label="loc_us-gaap_AllowanceForFundsUsedDuringConstructionInvestingActivities_0EE21140E8A9E08B7878ECCAEDFB85A6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForFundsUsedDuringConstructionInvestingActivities_0EE21140E8A9E08B7878ECCAEDFB85A6" xlink:to="lab_us-gaap_AllowanceForFundsUsedDuringConstructionInvestingActivities_0EE21140E8A9E08B7878ECCAEDFB85A6" xlink:type="arc"/>

<link:label id="lab_us-gaap_ProceedsFromDecommissioningFund_7CD2F284004A5FFAD5AFECCAEDFB0F30_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromDecommissioningFund_7CD2F284004A5FFAD5AFECCAEDFB0F30" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from nuclear decommissioning trust sales </link:label>

<link:label id="lab_us-gaap_ProceedsFromDecommissioningFund_7CD2F284004A5FFAD5AFECCAEDFB0F30_label_en-US" xlink:label="lab_us-gaap_ProceedsFromDecommissioningFund_7CD2F284004A5FFAD5AFECCAEDFB0F30" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Decommissioning Trust Fund Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromDecommissioningFund" xlink:label="loc_us-gaap_ProceedsFromDecommissioningFund_7CD2F284004A5FFAD5AFECCAEDFB0F30" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromDecommissioningFund_7CD2F284004A5FFAD5AFECCAEDFB0F30" xlink:to="lab_us-gaap_ProceedsFromDecommissioningFund_7CD2F284004A5FFAD5AFECCAEDFB0F30" xlink:type="arc"/>

<link:label id="lab_us-gaap_PaymentsToInvestInDecommissioningFund_8CD128E49189C77F31C4ECCAEDFB0B21_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToInvestInDecommissioningFund_8CD128E49189C77F31C4ECCAEDFB0B21" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Investment in nuclear decommissioning trust </link:label>

<link:label id="lab_us-gaap_PaymentsToInvestInDecommissioningFund_8CD128E49189C77F31C4ECCAEDFB0B21_label_en-US" xlink:label="lab_us-gaap_PaymentsToInvestInDecommissioningFund_8CD128E49189C77F31C4ECCAEDFB0B21" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments to Acquire Investments to be Held in Decommissioning Trust Fund </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToInvestInDecommissioningFund" xlink:label="loc_us-gaap_PaymentsToInvestInDecommissioningFund_8CD128E49189C77F31C4ECCAEDFB0B21" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToInvestInDecommissioningFund_8CD128E49189C77F31C4ECCAEDFB0B21" xlink:to="lab_us-gaap_PaymentsToInvestInDecommissioningFund_8CD128E49189C77F31C4ECCAEDFB0B21" xlink:type="arc"/>

<link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6A79B5D6A85F55EE26CBECCAEDFB63C7_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6A79B5D6A85F55EE26CBECCAEDFB63C7" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6A79B5D6A85F55EE26CBECCAEDFB63C7_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6A79B5D6A85F55EE26CBECCAEDFB63C7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments for (Proceeds from) Other Investing Activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6A79B5D6A85F55EE26CBECCAEDFB63C7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6A79B5D6A85F55EE26CBECCAEDFB63C7" xlink:to="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6A79B5D6A85F55EE26CBECCAEDFB63C7" xlink:type="arc"/>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_0C3F5EC60EA0E90DB0B8ECCAEDFB8CDD_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_0C3F5EC60EA0E90DB0B8ECCAEDFB8CDD" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net cash flow used for investing activities </link:label>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_0C3F5EC60EA0E90DB0B8ECCAEDFB8CDD_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_0C3F5EC60EA0E90DB0B8ECCAEDFB8CDD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Investing Activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0C3F5EC60EA0E90DB0B8ECCAEDFB8CDD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_0C3F5EC60EA0E90DB0B8ECCAEDFB8CDD" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_0C3F5EC60EA0E90DB0B8ECCAEDFB8CDD" xlink:type="arc"/>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_CC4190C5AABE62A81050ECCAEDFBCDC1_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_CC4190C5AABE62A81050ECCAEDFBCDC1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> CASH FLOWS FROM FINANCING ACTIVITIES </link:label>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_CC4190C5AABE62A81050ECCAEDFBCDC1_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_CC4190C5AABE62A81050ECCAEDFBCDC1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Financing Activities [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_CC4190C5AABE62A81050ECCAEDFBCDC1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_CC4190C5AABE62A81050ECCAEDFBCDC1" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_CC4190C5AABE62A81050ECCAEDFBCDC1" xlink:type="arc"/>

<link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_DD9373C665FF6124339DECCAEDFB54C0_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_DD9373C665FF6124339DECCAEDFB54C0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Issuance of long-term debt </link:label>

<link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_DD9373C665FF6124339DECCAEDFB54C0_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_DD9373C665FF6124339DECCAEDFB54C0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Issuance of Long-term Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_DD9373C665FF6124339DECCAEDFB54C0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_DD9373C665FF6124339DECCAEDFB54C0" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_DD9373C665FF6124339DECCAEDFB54C0" xlink:type="arc"/>

<link:label id="lab_us-gaap_RepaymentsOfLongTermDebt_467EFEC521A6C95F3BE2ECCAEDFC42FC_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt_467EFEC521A6C95F3BE2ECCAEDFC42FC" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Repayment of long-term debt </link:label>

<link:label id="lab_us-gaap_RepaymentsOfLongTermDebt_467EFEC521A6C95F3BE2ECCAEDFC42FC_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt_467EFEC521A6C95F3BE2ECCAEDFC42FC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Repayments of Long-term Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebt_467EFEC521A6C95F3BE2ECCAEDFC42FC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfLongTermDebt_467EFEC521A6C95F3BE2ECCAEDFC42FC" xlink:to="lab_us-gaap_RepaymentsOfLongTermDebt_467EFEC521A6C95F3BE2ECCAEDFC42FC" xlink:type="arc"/>

<link:label id="lab_us-gaap_ProceedsFromRepaymentsOfShortTermDebt_7286505F5539BF1490D3ECCAEDFC5EB5_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromRepaymentsOfShortTermDebt_7286505F5539BF1490D3ECCAEDFC5EB5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Short-term borrowings and payments — net </link:label>

<link:label id="lab_us-gaap_ProceedsFromRepaymentsOfShortTermDebt_7286505F5539BF1490D3ECCAEDFC5EB5_label_en-US" xlink:label="lab_us-gaap_ProceedsFromRepaymentsOfShortTermDebt_7286505F5539BF1490D3ECCAEDFC5EB5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from (Repayments of) Short-term Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfShortTermDebt" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfShortTermDebt_7286505F5539BF1490D3ECCAEDFC5EB5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromRepaymentsOfShortTermDebt_7286505F5539BF1490D3ECCAEDFC5EB5" xlink:to="lab_us-gaap_ProceedsFromRepaymentsOfShortTermDebt_7286505F5539BF1490D3ECCAEDFC5EB5" xlink:type="arc"/>

<link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_9FC75333724D83A1969CECCAEDFC6313_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock_9FC75333724D83A1969CECCAEDFC6313" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Dividends paid on common stock </link:label>

<link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_9FC75333724D83A1969CECCAEDFC6313_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock_9FC75333724D83A1969CECCAEDFC6313" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments of Ordinary Dividends, Common Stock </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock_9FC75333724D83A1969CECCAEDFC6313" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_05D3B3A5013A6BB30292ECCAEDFC1303_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_05D3B3A5013A6BB30292ECCAEDFC1303" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common stock equity issuance - net of purchases </link:label>

<link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_05D3B3A5013A6BB30292ECCAEDFC1303_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_05D3B3A5013A6BB30292ECCAEDFC1303" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Issuance of Common Stock </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_05D3B3A5013A6BB30292ECCAEDFC1303" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PaymentsToMinorityShareholders_111837895BFBCC33B516ECCAEDFC7342_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToMinorityShareholders_111837895BFBCC33B516ECCAEDFC7342" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Distributions to noncontrolling interests </link:label>

<link:label id="lab_us-gaap_PaymentsToMinorityShareholders_111837895BFBCC33B516ECCAEDFC7342_label_en-US" xlink:label="lab_us-gaap_PaymentsToMinorityShareholders_111837895BFBCC33B516ECCAEDFC7342" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments to Noncontrolling Interests </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToMinorityShareholders" xlink:label="loc_us-gaap_PaymentsToMinorityShareholders_111837895BFBCC33B516ECCAEDFC7342" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_900D7BA6CBE0D5CD05B7ECCAEDFCBAB2_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_900D7BA6CBE0D5CD05B7ECCAEDFCBAB2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_900D7BA6CBE0D5CD05B7ECCAEDFCBAB2_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_900D7BA6CBE0D5CD05B7ECCAEDFCBAB2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from (Payments for) Other Financing Activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:label="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_900D7BA6CBE0D5CD05B7ECCAEDFCBAB2" xlink:type="locator"/>

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<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_7A0A95B76921D20F5DDEECCAEDFCAB42_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_7A0A95B76921D20F5DDEECCAEDFCAB42" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net cash flow provided by (used for) financing activities </link:label>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_7A0A95B76921D20F5DDEECCAEDFCAB42_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_7A0A95B76921D20F5DDEECCAEDFCAB42" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Financing Activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_7A0A95B76921D20F5DDEECCAEDFCAB42" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_7A0A95B76921D20F5DDEECCAEDFCAB42" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_7A0A95B76921D20F5DDEECCAEDFCAB42" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_19B2AF902E95C6607D8CECCAEDFCD2EE_totalLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_19B2AF902E95C6607D8CECCAEDFCD2EE" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS </link:label>

<link:label id="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_19B2AF902E95C6607D8CECCAEDFCD2EE_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_19B2AF902E95C6607D8CECCAEDFCD2EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash and Cash Equivalents, Period Increase (Decrease) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_19B2AF902E95C6607D8CECCAEDFCD2EE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_19B2AF902E95C6607D8CECCAEDFCD2EE" xlink:to="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_19B2AF902E95C6607D8CECCAEDFCD2EE" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_8B95017AC96F2316FCBBECCAEDFCD63A_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_8B95017AC96F2316FCBBECCAEDFCD63A" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR </link:label>

<link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_8B95017AC96F2316FCBBECCAEDFCD63A_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_8B95017AC96F2316FCBBECCAEDFCD63A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash and Cash Equivalents, at Carrying Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_8B95017AC96F2316FCBBECCAEDFCD63A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_8B95017AC96F2316FCBBECCAEDFCD63A" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_8B95017AC96F2316FCBBECCAEDFCD63A" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_6C8F04D09D0D05010026ECCAEDFCF356_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_6C8F04D09D0D05010026ECCAEDFCF356" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> CASH AND CASH EQUIVALENTS AT END OF YEAR </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_6C8F04D09D0D05010026ECCAEDFCF356" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_6C8F04D09D0D05010026ECCAEDFCF356" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_6C8F04D09D0D05010026ECCAEDFCF356" xlink:type="arc"/>

<link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_C7FB5EA912985CC1C63CECCAEDFC3490_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract_C7FB5EA912985CC1C63CECCAEDFC3490" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Supplemental disclosure of cash flow information: </link:label>

<link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_C7FB5EA912985CC1C63CECCAEDFC3490_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract_C7FB5EA912985CC1C63CECCAEDFC3490" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Supplemental Cash Flow Information [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract_C7FB5EA912985CC1C63CECCAEDFC3490" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncomeTaxesPaidNet_8265B12C67E37D7FF0E2ECCAEDFD6881_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaidNet_8265B12C67E37D7FF0E2ECCAEDFD6881" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Income taxes, net of refunds </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxesPaidNet" xlink:label="loc_us-gaap_IncomeTaxesPaidNet_8265B12C67E37D7FF0E2ECCAEDFD6881" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxesPaidNet_8265B12C67E37D7FF0E2ECCAEDFD6881" xlink:to="lab_us-gaap_IncomeTaxesPaidNet_8265B12C67E37D7FF0E2ECCAEDFD6881" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_EFDA142D3B8116B71FC6ECCAEDFDCDFE_terseLabel_en-US" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_EFDA142D3B8116B71FC6ECCAEDFDCDFE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Significant non-cash investing and financing activities: </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_EFDA142D3B8116B71FC6ECCAEDFDCDFE" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LiabilitiesAssumed1_0EC68A1FA46DD69F14A4ECCAEDFDECCE_verboseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAssumed1_0EC68A1FA46DD69F14A4ECCAEDFDECCE" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities assumed related to acquisition of SCE’s Four Corners’ interest </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAssumed1" xlink:label="loc_us-gaap_LiabilitiesAssumed1_0EC68A1FA46DD69F14A4ECCAEDFDECCE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAssumed1_0EC68A1FA46DD69F14A4ECCAEDFDECCE" xlink:to="lab_us-gaap_LiabilitiesAssumed1_0EC68A1FA46DD69F14A4ECCAEDFDECCE" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember_8E7FD64A8F025CBCA530EB8F65E4DDEF_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember_8E7FD64A8F025CBCA530EB8F65E4DDEF" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Other postretirement benefits </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember" xlink:label="loc_us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember_8E7FD64A8F025CBCA530EB8F65E4DDEF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember_8E7FD64A8F025CBCA530EB8F65E4DDEF" xlink:to="lab_us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember_8E7FD64A8F025CBCA530EB8F65E4DDEF" xlink:type="arc"/>

<link:label id="lab_us-gaap_FixedIncomeSecuritiesMember_434684EF0933B0D35E72EB8F65E42093_terseLabel_en-US" xlink:label="lab_us-gaap_FixedIncomeSecuritiesMember_434684EF0933B0D35E72EB8F65E42093" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fixed income securities </link:label>

<link:label id="lab_us-gaap_FixedIncomeSecuritiesMember_434684EF0933B0D35E72EB8F65E42093_label_en-US" xlink:label="lab_us-gaap_FixedIncomeSecuritiesMember_434684EF0933B0D35E72EB8F65E42093" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fixed Income Securities [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FixedIncomeSecuritiesMember" xlink:label="loc_us-gaap_FixedIncomeSecuritiesMember_434684EF0933B0D35E72EB8F65E42093" xlink:type="locator"/>

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<link:label id="lab_pnw_ReturnGeneratingAssetsMember_D5E1C4C3A7CFF98E0099EB8F65E4940C_terseLabel_en-US" xlink:label="lab_pnw_ReturnGeneratingAssetsMember_D5E1C4C3A7CFF98E0099EB8F65E4940C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Return-generating assets </link:label>

<link:label id="lab_pnw_ReturnGeneratingAssetsMember_D5E1C4C3A7CFF98E0099EB8F65E4940C_label_en-US" xlink:label="lab_pnw_ReturnGeneratingAssetsMember_D5E1C4C3A7CFF98E0099EB8F65E4940C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Return Generating Assets [Member] </link:label>

<link:label id="lab_pnw_ReturnGeneratingAssetsMember_D5E1C4C3A7CFF98E0099EB8F65E4940C_documentation_en-US" xlink:label="lab_pnw_ReturnGeneratingAssetsMember_D5E1C4C3A7CFF98E0099EB8F65E4940C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Return-generating assets. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ReturnGeneratingAssetsMember" xlink:label="loc_pnw_ReturnGeneratingAssetsMember_D5E1C4C3A7CFF98E0099EB8F65E4940C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ReturnGeneratingAssetsMember_D5E1C4C3A7CFF98E0099EB8F65E4940C" xlink:to="lab_pnw_ReturnGeneratingAssetsMember_D5E1C4C3A7CFF98E0099EB8F65E4940C" xlink:type="arc"/>

<link:label id="lab_pnw_DevelopedEquitiesMember_3086756AAE5C02C9714CEB8F65E58C20_terseLabel_en-US" xlink:label="lab_pnw_DevelopedEquitiesMember_3086756AAE5C02C9714CEB8F65E58C20" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Developed equities </link:label>

<link:label id="lab_pnw_DevelopedEquitiesMember_3086756AAE5C02C9714CEB8F65E58C20_label_en-US" xlink:label="lab_pnw_DevelopedEquitiesMember_3086756AAE5C02C9714CEB8F65E58C20" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Developed Equities [Member] </link:label>

<link:label id="lab_pnw_DevelopedEquitiesMember_3086756AAE5C02C9714CEB8F65E58C20_documentation_en-US" xlink:label="lab_pnw_DevelopedEquitiesMember_3086756AAE5C02C9714CEB8F65E58C20" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to developed equities. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DevelopedEquitiesMember" xlink:label="loc_pnw_DevelopedEquitiesMember_3086756AAE5C02C9714CEB8F65E58C20" xlink:type="locator"/>

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<link:label id="lab_pnw_EmergingEquitiesMember_C5A4184AE035250CDFF3EB8F65E5C800_terseLabel_en-US" xlink:label="lab_pnw_EmergingEquitiesMember_C5A4184AE035250CDFF3EB8F65E5C800" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Emerging equities </link:label>

<link:label id="lab_pnw_EmergingEquitiesMember_C5A4184AE035250CDFF3EB8F65E5C800_label_en-US" xlink:label="lab_pnw_EmergingEquitiesMember_C5A4184AE035250CDFF3EB8F65E5C800" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Emerging Equities [Member] </link:label>

<link:label id="lab_pnw_EmergingEquitiesMember_C5A4184AE035250CDFF3EB8F65E5C800_documentation_en-US" xlink:label="lab_pnw_EmergingEquitiesMember_C5A4184AE035250CDFF3EB8F65E5C800" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to emerging equities. Represents information pertaining to alternative investments. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_EmergingEquitiesMember" xlink:label="loc_pnw_EmergingEquitiesMember_C5A4184AE035250CDFF3EB8F65E5C800" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_EmergingEquitiesMember_C5A4184AE035250CDFF3EB8F65E5C800" xlink:to="lab_pnw_EmergingEquitiesMember_C5A4184AE035250CDFF3EB8F65E5C800" xlink:type="arc"/>

<link:label id="lab_pnw_AlternativeInvestmentsMember_1A08B150C221E9CD9B5CEB8F65E5C885_terseLabel_en-US" xlink:label="lab_pnw_AlternativeInvestmentsMember_1A08B150C221E9CD9B5CEB8F65E5C885" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Alternative investments </link:label>

<link:label id="lab_pnw_AlternativeInvestmentsMember_1A08B150C221E9CD9B5CEB8F65E5C885_label_en-US" xlink:label="lab_pnw_AlternativeInvestmentsMember_1A08B150C221E9CD9B5CEB8F65E5C885" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Alternative Investments [Member] </link:label>

<link:label id="lab_pnw_AlternativeInvestmentsMember_1A08B150C221E9CD9B5CEB8F65E5C885_documentation_en-US" xlink:label="lab_pnw_AlternativeInvestmentsMember_1A08B150C221E9CD9B5CEB8F65E5C885" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to alternative investments. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AlternativeInvestmentsMember" xlink:label="loc_pnw_AlternativeInvestmentsMember_1A08B150C221E9CD9B5CEB8F65E5C885" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AlternativeInvestmentsMember_1A08B150C221E9CD9B5CEB8F65E5C885" xlink:to="lab_pnw_AlternativeInvestmentsMember_1A08B150C221E9CD9B5CEB8F65E5C885" xlink:type="arc"/>

<link:label id="lab_us-gaap_FixedIncomeFundsMember_86D3C31AEF5BD0ACAB10EB8F65E5EFD7_terseLabel_en-US" xlink:label="lab_us-gaap_FixedIncomeFundsMember_86D3C31AEF5BD0ACAB10EB8F65E5EFD7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fixed income </link:label>

<link:label id="lab_us-gaap_FixedIncomeFundsMember_86D3C31AEF5BD0ACAB10EB8F65E5EFD7_label_en-US" xlink:label="lab_us-gaap_FixedIncomeFundsMember_86D3C31AEF5BD0ACAB10EB8F65E5EFD7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fixed Income Funds [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FixedIncomeFundsMember" xlink:label="loc_us-gaap_FixedIncomeFundsMember_86D3C31AEF5BD0ACAB10EB8F65E5EFD7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FixedIncomeFundsMember_86D3C31AEF5BD0ACAB10EB8F65E5EFD7" xlink:to="lab_us-gaap_FixedIncomeFundsMember_86D3C31AEF5BD0ACAB10EB8F65E5EFD7" xlink:type="arc"/>

<link:label id="lab_pnw_NonFixedIncomeFundsMember_0A3C24407B496BFE65B5EB8F65E523F3_terseLabel_en-US" xlink:label="lab_pnw_NonFixedIncomeFundsMember_0A3C24407B496BFE65B5EB8F65E523F3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Non-fixed income </link:label>

<link:label id="lab_pnw_NonFixedIncomeFundsMember_0A3C24407B496BFE65B5EB8F65E523F3_label_en-US" xlink:label="lab_pnw_NonFixedIncomeFundsMember_0A3C24407B496BFE65B5EB8F65E523F3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Non-Fixed Income Funds [Member] </link:label>

<link:label id="lab_pnw_NonFixedIncomeFundsMember_0A3C24407B496BFE65B5EB8F65E523F3_documentation_en-US" xlink:label="lab_pnw_NonFixedIncomeFundsMember_0A3C24407B496BFE65B5EB8F65E523F3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Non-Fixed Income Funds [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NonFixedIncomeFundsMember" xlink:label="loc_pnw_NonFixedIncomeFundsMember_0A3C24407B496BFE65B5EB8F65E523F3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NonFixedIncomeFundsMember_0A3C24407B496BFE65B5EB8F65E523F3" xlink:to="lab_pnw_NonFixedIncomeFundsMember_0A3C24407B496BFE65B5EB8F65E523F3" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanPlanAmendmentAbstract_5A70228ABC6EE4695C1AEB8F65E57E31_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPlanAmendmentAbstract_5A70228ABC6EE4695C1AEB8F65E57E31" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Plan Design Changes [Abstract] </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanPlanAmendmentAbstract_5A70228ABC6EE4695C1AEB8F65E57E31_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanPlanAmendmentAbstract_5A70228ABC6EE4695C1AEB8F65E57E31" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Plan Amendment [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanPlanAmendmentAbstract" xlink:label="loc_us-gaap_DefinedBenefitPlanPlanAmendmentAbstract_5A70228ABC6EE4695C1AEB8F65E57E31" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanPlanAmendmentAbstract_5A70228ABC6EE4695C1AEB8F65E57E31" xlink:to="lab_us-gaap_DefinedBenefitPlanPlanAmendmentAbstract_5A70228ABC6EE4695C1AEB8F65E57E31" xlink:type="arc"/>

<link:label id="lab_pnw_DefinedBenefitPlanAgeEligibleforBenefit_4BF8BC388763D8185E33EB8F65E578C3_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanAgeEligibleforBenefit_4BF8BC388763D8185E33EB8F65E578C3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Age eligible for benefit </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanAgeEligibleforBenefit_4BF8BC388763D8185E33EB8F65E578C3_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanAgeEligibleforBenefit_4BF8BC388763D8185E33EB8F65E578C3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Age Eligible for Benefit </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanAgeEligibleforBenefit_4BF8BC388763D8185E33EB8F65E578C3_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanAgeEligibleforBenefit_4BF8BC388763D8185E33EB8F65E578C3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Age Eligible for Benefit </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanAgeEligibleforBenefit" xlink:label="loc_pnw_DefinedBenefitPlanAgeEligibleforBenefit_4BF8BC388763D8185E33EB8F65E578C3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DefinedBenefitPlanAgeEligibleforBenefit_4BF8BC388763D8185E33EB8F65E578C3" xlink:to="lab_pnw_DefinedBenefitPlanAgeEligibleforBenefit_4BF8BC388763D8185E33EB8F65E578C3" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnNetPeriodicBenefitCost_7F12D1B8DAEC948EAFA2EB8F65E5BC01_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnNetPeriodicBenefitCost_7F12D1B8DAEC948EAFA2EB8F65E5BC01" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Effect of plan amendment on net periodic benefit cost </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnNetPeriodicBenefitCost_7F12D1B8DAEC948EAFA2EB8F65E5BC01_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnNetPeriodicBenefitCost_7F12D1B8DAEC948EAFA2EB8F65E5BC01" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Effect of Plan Amendment on Net Periodic Benefit Cost </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnNetPeriodicBenefitCost" xlink:label="loc_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnNetPeriodicBenefitCost_7F12D1B8DAEC948EAFA2EB8F65E5BC01" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnNetPeriodicBenefitCost_7F12D1B8DAEC948EAFA2EB8F65E5BC01" xlink:to="lab_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnNetPeriodicBenefitCost_7F12D1B8DAEC948EAFA2EB8F65E5BC01" xlink:type="arc"/>

<link:label id="lab_pnw_DefinedBenefitPlanEffectofPlanAmendmentonExpense_5F911B24196F35633982EB8F65E526DE_negatedTerseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanEffectofPlanAmendmentonExpense_5F911B24196F35633982EB8F65E526DE" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Effect of plan amendment on expense </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanEffectofPlanAmendmentonExpense_5F911B24196F35633982EB8F65E526DE_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanEffectofPlanAmendmentonExpense_5F911B24196F35633982EB8F65E526DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Effect of Plan Amendment on Expense </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanEffectofPlanAmendmentonExpense_5F911B24196F35633982EB8F65E526DE_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanEffectofPlanAmendmentonExpense_5F911B24196F35633982EB8F65E526DE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Effect of Plan Amendment on Expense </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanEffectofPlanAmendmentonExpense" xlink:label="loc_pnw_DefinedBenefitPlanEffectofPlanAmendmentonExpense_5F911B24196F35633982EB8F65E526DE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DefinedBenefitPlanEffectofPlanAmendmentonExpense_5F911B24196F35633982EB8F65E526DE" xlink:to="lab_pnw_DefinedBenefitPlanEffectofPlanAmendmentonExpense_5F911B24196F35633982EB8F65E526DE" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnAccumulatedBenefitObligation_620804A83D6350E35F2EEB8F65E58DB9_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnAccumulatedBenefitObligation_620804A83D6350E35F2EEB8F65E58DB9" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Effect of plan amendment on accumulated benefit obligation </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnAccumulatedBenefitObligation_620804A83D6350E35F2EEB8F65E58DB9_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnAccumulatedBenefitObligation_620804A83D6350E35F2EEB8F65E58DB9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Effect of Plan Amendment on Accumulated Benefit Obligation </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnAccumulatedBenefitObligation" xlink:label="loc_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnAccumulatedBenefitObligation_620804A83D6350E35F2EEB8F65E58DB9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnAccumulatedBenefitObligation_620804A83D6350E35F2EEB8F65E58DB9" xlink:to="lab_us-gaap_DefinedBenefitPlanEffectOfPlanAmendmentOnAccumulatedBenefitObligation_620804A83D6350E35F2EEB8F65E58DB9" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_0C7F93D821E005604144EB8F65E59C47_verboseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_0C7F93D821E005604144EB8F65E59C47" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Assets for other postretirement benefits </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_0C7F93D821E005604144EB8F65E59C47_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_0C7F93D821E005604144EB8F65E59C47" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Assets for Plan Benefits, Noncurrent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent" xlink:label="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_0C7F93D821E005604144EB8F65E59C47" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_0C7F93D821E005604144EB8F65E59C47" xlink:to="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_0C7F93D821E005604144EB8F65E59C47" xlink:type="arc"/>

<link:label id="lab_pnw_DefinedBenefitPlanAmountofOtherPostretirementBenefitTrustAssetsforUnionEmployeeMedicalCosts_72E21258CA5C6C31EF4FEB8F65E529A1_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanAmountofOtherPostretirementBenefitTrustAssetsforUnionEmployeeMedicalCosts_72E21258CA5C6C31EF4FEB8F65E529A1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amount of other postretirement benefit trust assets for union employee medical costs </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanAmountofOtherPostretirementBenefitTrustAssetsforUnionEmployeeMedicalCosts_72E21258CA5C6C31EF4FEB8F65E529A1_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanAmountofOtherPostretirementBenefitTrustAssetsforUnionEmployeeMedicalCosts_72E21258CA5C6C31EF4FEB8F65E529A1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Amount of Other Postretirement Benefit Trust Assets for Union Employee Medical Costs </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanAmountofOtherPostretirementBenefitTrustAssetsforUnionEmployeeMedicalCosts_72E21258CA5C6C31EF4FEB8F65E529A1_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanAmountofOtherPostretirementBenefitTrustAssetsforUnionEmployeeMedicalCosts_72E21258CA5C6C31EF4FEB8F65E529A1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan - Amount of Other Postretirement Benefit Trust Assets for Union Employee Medical Costs </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanAmountofOtherPostretirementBenefitTrustAssetsforUnionEmployeeMedicalCosts" xlink:label="loc_pnw_DefinedBenefitPlanAmountofOtherPostretirementBenefitTrustAssetsforUnionEmployeeMedicalCosts_72E21258CA5C6C31EF4FEB8F65E529A1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DefinedBenefitPlanAmountofOtherPostretirementBenefitTrustAssetsforUnionEmployeeMedicalCosts_72E21258CA5C6C31EF4FEB8F65E529A1" xlink:to="lab_pnw_DefinedBenefitPlanAmountofOtherPostretirementBenefitTrustAssetsforUnionEmployeeMedicalCosts_72E21258CA5C6C31EF4FEB8F65E529A1" xlink:type="arc"/>

<link:label id="lab_pnw_DefinedBenefitPlanCostDeferred_EC7CD1181ABF04D4477BEB8F65E5D16B_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanCostDeferred_EC7CD1181ABF04D4477BEB8F65E5D16B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amount of pension and other postretirement benefit costs deferred </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanCostDeferred_EC7CD1181ABF04D4477BEB8F65E5D16B_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanCostDeferred_EC7CD1181ABF04D4477BEB8F65E5D16B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Cost Deferred </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanCostDeferred_EC7CD1181ABF04D4477BEB8F65E5D16B_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanCostDeferred_EC7CD1181ABF04D4477BEB8F65E5D16B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the amount of pension and other postretirement benefit costs which were deferred. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanCostDeferred" xlink:label="loc_pnw_DefinedBenefitPlanCostDeferred_EC7CD1181ABF04D4477BEB8F65E5D16B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DefinedBenefitPlanCostDeferred_EC7CD1181ABF04D4477BEB8F65E5D16B" xlink:to="lab_pnw_DefinedBenefitPlanCostDeferred_EC7CD1181ABF04D4477BEB8F65E5D16B" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryAssetAmortizationPeriod_72221E5DBBB04FB7163DEB8F65E52A1E_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryAssetAmortizationPeriod_72221E5DBBB04FB7163DEB8F65E52A1E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory asset amortization period </link:label>

<link:label id="lab_us-gaap_RegulatoryAssetAmortizationPeriod_72221E5DBBB04FB7163DEB8F65E52A1E_label_en-US" xlink:label="lab_us-gaap_RegulatoryAssetAmortizationPeriod_72221E5DBBB04FB7163DEB8F65E52A1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Asset, Amortization Period </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryAssetAmortizationPeriod" xlink:label="loc_us-gaap_RegulatoryAssetAmortizationPeriod_72221E5DBBB04FB7163DEB8F65E52A1E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryAssetAmortizationPeriod_72221E5DBBB04FB7163DEB8F65E52A1E" xlink:to="lab_us-gaap_RegulatoryAssetAmortizationPeriod_72221E5DBBB04FB7163DEB8F65E52A1E" xlink:type="arc"/>

<link:label id="lab_us-gaap_AmortizationOfRegulatoryAsset_B6AD7E9ECFDB4222D3CFEB8F65E5B3AB_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfRegulatoryAsset_B6AD7E9ECFDB4222D3CFEB8F65E5B3AB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amortization of regulatory assets </link:label>

<link:label id="lab_us-gaap_AmortizationOfRegulatoryAsset_B6AD7E9ECFDB4222D3CFEB8F65E5B3AB_label_en-US" xlink:label="lab_us-gaap_AmortizationOfRegulatoryAsset_B6AD7E9ECFDB4222D3CFEB8F65E5B3AB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Amortization of Regulatory Asset </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfRegulatoryAsset" xlink:label="loc_us-gaap_AmortizationOfRegulatoryAsset_B6AD7E9ECFDB4222D3CFEB8F65E5B3AB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfRegulatoryAsset_B6AD7E9ECFDB4222D3CFEB8F65E5B3AB" xlink:to="lab_us-gaap_AmortizationOfRegulatoryAsset_B6AD7E9ECFDB4222D3CFEB8F65E5B3AB" xlink:type="arc"/>

<link:label id="lab_pnw_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssetsForNextFiscalYear_84A3384A88443292F70FEB8F65E58BE9_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssetsForNextFiscalYear_84A3384A88443292F70FEB8F65E58BE9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Expected long-term return on plan assets for next fiscal year (as a percent) </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssetsForNextFiscalYear_84A3384A88443292F70FEB8F65E58BE9_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssetsForNextFiscalYear_84A3384A88443292F70FEB8F65E58BE9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return on Assets for Next Fiscal Year </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssetsForNextFiscalYear_84A3384A88443292F70FEB8F65E58BE9_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssetsForNextFiscalYear_84A3384A88443292F70FEB8F65E58BE9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> An assumption as to the rate of return on plan assets reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the benefit obligation during next fiscal year. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssetsForNextFiscalYear" xlink:label="loc_pnw_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssetsForNextFiscalYear_84A3384A88443292F70FEB8F65E58BE9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssetsForNextFiscalYear_84A3384A88443292F70FEB8F65E58BE9" xlink:to="lab_pnw_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssetsForNextFiscalYear_84A3384A88443292F70FEB8F65E58BE9" xlink:type="arc"/>

<link:label id="lab_pnw_DefinedBenefitPlanMortalityAssumptionsImpactonPensionandOtherPostretirementObligations_C565062DAF82CD458609EB8F65E5C551_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanMortalityAssumptionsImpactonPensionandOtherPostretirementObligations_C565062DAF82CD458609EB8F65E5C551" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in mortality assumptions impact on pension and other postretirement obligations </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanMortalityAssumptionsImpactonPensionandOtherPostretirementObligations_C565062DAF82CD458609EB8F65E5C551_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanMortalityAssumptionsImpactonPensionandOtherPostretirementObligations_C565062DAF82CD458609EB8F65E5C551" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Mortality Assumptions Impact on Pension and Other Postretirement Obligations </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanMortalityAssumptionsImpactonPensionandOtherPostretirementObligations_C565062DAF82CD458609EB8F65E5C551_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanMortalityAssumptionsImpactonPensionandOtherPostretirementObligations_C565062DAF82CD458609EB8F65E5C551" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Mortality Assumptions Impact on Pension and Other Postretirement Obligations </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanMortalityAssumptionsImpactonPensionandOtherPostretirementObligations" xlink:label="loc_pnw_DefinedBenefitPlanMortalityAssumptionsImpactonPensionandOtherPostretirementObligations_C565062DAF82CD458609EB8F65E5C551" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DefinedBenefitPlanMortalityAssumptionsImpactonPensionandOtherPostretirementObligations_C565062DAF82CD458609EB8F65E5C551" xlink:to="lab_pnw_DefinedBenefitPlanMortalityAssumptionsImpactonPensionandOtherPostretirementObligations_C565062DAF82CD458609EB8F65E5C551" xlink:type="arc"/>

<link:label id="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsMaximumContributionAmount_0F45A8DCEB29A73FBF38EB8F65E56CFA_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsMaximumContributionAmount_0F45A8DCEB29A73FBF38EB8F65E56CFA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Partnership funding commitments, contribution amount (up to) </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsMaximumContributionAmount_0F45A8DCEB29A73FBF38EB8F65E56CFA_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsMaximumContributionAmount_0F45A8DCEB29A73FBF38EB8F65E56CFA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan - Partnership Funding Commitments, Maximum Contribution Amount </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsMaximumContributionAmount_0F45A8DCEB29A73FBF38EB8F65E56CFA_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsMaximumContributionAmount_0F45A8DCEB29A73FBF38EB8F65E56CFA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan - Partnership Funding Commitments, Maximum Contribution Amount </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanPartnershipFundingCommitmentsMaximumContributionAmount" xlink:label="loc_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsMaximumContributionAmount_0F45A8DCEB29A73FBF38EB8F65E56CFA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsMaximumContributionAmount_0F45A8DCEB29A73FBF38EB8F65E56CFA" xlink:to="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsMaximumContributionAmount_0F45A8DCEB29A73FBF38EB8F65E56CFA" xlink:type="arc"/>

<link:label id="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsFundedAmount_1FAF3FABFF48E7C147D1EB8F65E6CF13_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsFundedAmount_1FAF3FABFF48E7C147D1EB8F65E6CF13" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Partnership funding commitments, funded amount </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsFundedAmount_1FAF3FABFF48E7C147D1EB8F65E6CF13_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsFundedAmount_1FAF3FABFF48E7C147D1EB8F65E6CF13" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan - Partnership Funding Commitments, Funded Amount </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsFundedAmount_1FAF3FABFF48E7C147D1EB8F65E6CF13_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsFundedAmount_1FAF3FABFF48E7C147D1EB8F65E6CF13" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan - Partnership Funding Commitments, Funded Amount </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanPartnershipFundingCommitmentsFundedAmount" xlink:label="loc_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsFundedAmount_1FAF3FABFF48E7C147D1EB8F65E6CF13" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsFundedAmount_1FAF3FABFF48E7C147D1EB8F65E6CF13" xlink:to="lab_pnw_DefinedBenefitPlanPartnershipFundingCommitmentsFundedAmount_1FAF3FABFF48E7C147D1EB8F65E6CF13" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanAssetsTargetAllocationsAbstract_B6982AB474EA25A47ADDEB8F65E6CBE9_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssetsTargetAllocationsAbstract_B6982AB474EA25A47ADDEB8F65E6CBE9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Target asset allocation </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanAssetsTargetAllocationsAbstract_B6982AB474EA25A47ADDEB8F65E6CBE9_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssetsTargetAllocationsAbstract_B6982AB474EA25A47ADDEB8F65E6CBE9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Assets, Target Allocations [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanAssetsTargetAllocationsAbstract" xlink:label="loc_us-gaap_DefinedBenefitPlanAssetsTargetAllocationsAbstract_B6982AB474EA25A47ADDEB8F65E6CBE9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAssetsTargetAllocationsAbstract_B6982AB474EA25A47ADDEB8F65E6CBE9" xlink:to="lab_us-gaap_DefinedBenefitPlanAssetsTargetAllocationsAbstract_B6982AB474EA25A47ADDEB8F65E6CBE9" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocations_3DCC6104D77D1ACE6411EB8F65E686BE_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocations_3DCC6104D77D1ACE6411EB8F65E686BE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Target allocation (as a percent) </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocations_3DCC6104D77D1ACE6411EB8F65E686BE_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocations_3DCC6104D77D1ACE6411EB8F65E686BE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Target Plan Asset Allocations </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanTargetPlanAssetAllocations" xlink:label="loc_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocations_3DCC6104D77D1ACE6411EB8F65E686BE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocations_3DCC6104D77D1ACE6411EB8F65E686BE" xlink:to="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocations_3DCC6104D77D1ACE6411EB8F65E686BE" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMinimum_C225417235312CCE7E93EB8F65EB0BE7_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMinimum_C225417235312CCE7E93EB8F65EB0BE7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Target allocation, minimum (as a percent) </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMinimum_C225417235312CCE7E93EB8F65EB0BE7_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMinimum_C225417235312CCE7E93EB8F65EB0BE7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Target Plan Asset Allocations Range Minimum </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMinimum" xlink:label="loc_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMinimum_C225417235312CCE7E93EB8F65EB0BE7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMinimum_C225417235312CCE7E93EB8F65EB0BE7" xlink:to="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMinimum_C225417235312CCE7E93EB8F65EB0BE7" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMaximum_5BF01104C31ADFF98F0DEB8F65EB5F12_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMaximum_5BF01104C31ADFF98F0DEB8F65EB5F12" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Target allocation, maximum (as a percent) </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMaximum_5BF01104C31ADFF98F0DEB8F65EB5F12_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMaximum_5BF01104C31ADFF98F0DEB8F65EB5F12" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Target Plan Asset Allocations Range Maximum </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMaximum" xlink:label="loc_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMaximum_5BF01104C31ADFF98F0DEB8F65EB5F12" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMaximum_5BF01104C31ADFF98F0DEB8F65EB5F12" xlink:to="lab_us-gaap_DefinedBenefitPlanTargetPlanAssetAllocationsRangeMaximum_5BF01104C31ADFF98F0DEB8F65EB5F12" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssetAllocations_168D5FFA4E4109AB258BEB8F65EB4CD8_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssetAllocations_168D5FFA4E4109AB258BEB8F65EB4CD8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Actual asset allocation (as a percent) </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssetAllocations_168D5FFA4E4109AB258BEB8F65EB4CD8_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssetAllocations_168D5FFA4E4109AB258BEB8F65EB4CD8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Actual Plan Asset Allocations </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanWeightedAverageAssetAllocations" xlink:label="loc_us-gaap_DefinedBenefitPlanWeightedAverageAssetAllocations_168D5FFA4E4109AB258BEB8F65EB4CD8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanWeightedAverageAssetAllocations_168D5FFA4E4109AB258BEB8F65EB4CD8" xlink:to="lab_us-gaap_DefinedBenefitPlanWeightedAverageAssetAllocations_168D5FFA4E4109AB258BEB8F65EB4CD8" xlink:type="arc"/>

<link:label id="lab_pnw_DefinedBenefitPlanEmployerContributionsAbstract_1BDBEF691D6AB2A08EFDEB8F65EB0895_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanEmployerContributionsAbstract_1BDBEF691D6AB2A08EFDEB8F65EB0895" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Contributions </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanEmployerContributionsAbstract_1BDBEF691D6AB2A08EFDEB8F65EB0895_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanEmployerContributionsAbstract_1BDBEF691D6AB2A08EFDEB8F65EB0895" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan Employer Contributions [Abstract] </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanEmployerContributionsAbstract_1BDBEF691D6AB2A08EFDEB8F65EB0895_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanEmployerContributionsAbstract_1BDBEF691D6AB2A08EFDEB8F65EB0895" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanEmployerContributionsAbstract" xlink:label="loc_pnw_DefinedBenefitPlanEmployerContributionsAbstract_1BDBEF691D6AB2A08EFDEB8F65EB0895" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DefinedBenefitPlanEmployerContributionsAbstract_1BDBEF691D6AB2A08EFDEB8F65EB0895" xlink:to="lab_pnw_DefinedBenefitPlanEmployerContributionsAbstract_1BDBEF691D6AB2A08EFDEB8F65EB0895" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanContributionsByEmployer_F13524D8B12C6C3028C9EB8F65EB1BD3_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanContributionsByEmployer_F13524D8B12C6C3028C9EB8F65EB1BD3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Employer's contributions under the plan </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanContributionsByEmployer_F13524D8B12C6C3028C9EB8F65EB1BD3_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanContributionsByEmployer_F13524D8B12C6C3028C9EB8F65EB1BD3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Contributions by Employer </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanContributionsByEmployer" xlink:label="loc_us-gaap_DefinedBenefitPlanContributionsByEmployer_F13524D8B12C6C3028C9EB8F65EB1BD3" xlink:type="locator"/>

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<link:label id="lab_pnw_DefinedBenefitPlanEstimatedFutureMinimumEmployerContributionsUnderActAbstract_AF5FE9BCE26BAF134D30EB8F65EB9E9A_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanEstimatedFutureMinimumEmployerContributionsUnderActAbstract_AF5FE9BCE26BAF134D30EB8F65EB9E9A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Minimum contributions under MAP-21 </link:label>

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<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlansEstimatedMaximumFutureEmployerContributionsNextThreeFiscalYears" xlink:label="loc_pnw_DefinedBenefitPlansEstimatedMaximumFutureEmployerContributionsNextThreeFiscalYears_A7A53B684D489E95B2DDEB8F65EC3445" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlanEstimatedFutureEmployerContributionsAbstract_857B095C450158A669C4EB8F65ECA5E8_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEstimatedFutureEmployerContributionsAbstract_857B095C450158A669C4EB8F65ECA5E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Expected employer contributions </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanEstimatedFutureEmployerContributionsAbstract_857B095C450158A669C4EB8F65ECA5E8_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEstimatedFutureEmployerContributionsAbstract_857B095C450158A669C4EB8F65ECA5E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Estimated Future Employer Contributions [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanEstimatedFutureEmployerContributionsAbstract" xlink:label="loc_us-gaap_DefinedBenefitPlanEstimatedFutureEmployerContributionsAbstract_857B095C450158A669C4EB8F65ECA5E8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanEstimatedFutureEmployerContributionsAbstract_857B095C450158A669C4EB8F65ECA5E8" xlink:to="lab_us-gaap_DefinedBenefitPlanEstimatedFutureEmployerContributionsAbstract_857B095C450158A669C4EB8F65ECA5E8" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlansEstimatedFutureEmployerContributionsInNextFiscalYear_1DFA9CB98D50F5F8C0DFEB8F65ECD030_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlansEstimatedFutureEmployerContributionsInNextFiscalYear_1DFA9CB98D50F5F8C0DFEB8F65ECD030" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2016 </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlansEstimatedFutureEmployerContributionsInNextFiscalYear_1DFA9CB98D50F5F8C0DFEB8F65ECD030_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlansEstimatedFutureEmployerContributionsInNextFiscalYear_1DFA9CB98D50F5F8C0DFEB8F65ECD030" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlansEstimatedFutureEmployerContributionsInNextFiscalYear" xlink:label="loc_us-gaap_DefinedBenefitPlansEstimatedFutureEmployerContributionsInNextFiscalYear_1DFA9CB98D50F5F8C0DFEB8F65ECD030" xlink:type="locator"/>

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<link:label id="lab_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearTwo_BC3CFB777D4D14AF9476EB8F65ECDAC0_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearTwo_BC3CFB777D4D14AF9476EB8F65ECDAC0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2017 </link:label>

<link:label id="lab_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearTwo_BC3CFB777D4D14AF9476EB8F65ECDAC0_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearTwo_BC3CFB777D4D14AF9476EB8F65ECDAC0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plans, Estimated Future Employer Contributions in Year Two </link:label>

<link:label id="lab_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearTwo_BC3CFB777D4D14AF9476EB8F65ECDAC0_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearTwo_BC3CFB777D4D14AF9476EB8F65ECDAC0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plans, Estimated Future Employer Contributions in Year Two </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearTwo" xlink:label="loc_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearTwo_BC3CFB777D4D14AF9476EB8F65ECDAC0" xlink:type="locator"/>

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<link:label id="lab_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearThree_9F823132D5E633ECADABEB8F65ECBF7B_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearThree_9F823132D5E633ECADABEB8F65ECBF7B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2018 </link:label>

<link:label id="lab_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearThree_9F823132D5E633ECADABEB8F65ECBF7B_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearThree_9F823132D5E633ECADABEB8F65ECBF7B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plans Estimated Future Employer Contributions in Year Three </link:label>

<link:label id="lab_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearThree_9F823132D5E633ECADABEB8F65ECBF7B_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearThree_9F823132D5E633ECADABEB8F65ECBF7B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plans Estimated Future Employer Contributions in Year Three </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearThree" xlink:label="loc_pnw_DefinedBenefitPlansEstimatedFutureEmployerContributionsinYearThree_9F823132D5E633ECADABEB8F65ECBF7B" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedContributionPensionAndOtherPostretirementPlansDisclosureAbstract_583B2C851A3496B8F2ECEB8F65EC1ADF_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPensionAndOtherPostretirementPlansDisclosureAbstract_583B2C851A3496B8F2ECEB8F65EC1ADF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Employee savings plan benefits </link:label>

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<link:label id="lab_pnw_DefinedContributionPlanCostRecognizedPercentage_D5E063344FE1CB488D54EB8F65ECEF17_terseLabel_en-US" xlink:label="lab_pnw_DefinedContributionPlanCostRecognizedPercentage_D5E063344FE1CB488D54EB8F65ECEF17" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> APS's employees share of total cost of the plans (as a percent) </link:label>

<link:label id="lab_pnw_DefinedContributionPlanCostRecognizedPercentage_D5E063344FE1CB488D54EB8F65ECEF17_label_en-US" xlink:label="lab_pnw_DefinedContributionPlanCostRecognizedPercentage_D5E063344FE1CB488D54EB8F65ECEF17" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Contribution Plan, Cost Recognized Percentage </link:label>

<link:label id="lab_pnw_DefinedContributionPlanCostRecognizedPercentage_D5E063344FE1CB488D54EB8F65ECEF17_documentation_en-US" xlink:label="lab_pnw_DefinedContributionPlanCostRecognizedPercentage_D5E063344FE1CB488D54EB8F65ECEF17" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Percentage of the subsidiary's share of the total cost of the benefit plans relative to the consolidated entity's total cost. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedContributionPlanCostRecognizedPercentage" xlink:label="loc_pnw_DefinedContributionPlanCostRecognizedPercentage_D5E063344FE1CB488D54EB8F65ECEF17" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedContributionPlanCostRecognized_E2A4CD07C65B881FFC51EB8F65ECC735_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanCostRecognized_E2A4CD07C65B881FFC51EB8F65ECC735" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Expenses recorded for the defined contribution savings plan </link:label>

<link:label id="lab_us-gaap_DefinedContributionPlanCostRecognized_E2A4CD07C65B881FFC51EB8F65ECC735_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanCostRecognized_E2A4CD07C65B881FFC51EB8F65ECC735" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Contribution Plan, Cost Recognized </link:label>

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<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:label="loc_us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_569C58717E7314AD2B0C91C0279274D3" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_D09EB8B6B2D8F27BA1D7ECCAED43E131_totalLabel_en-US" xlink:label="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_D09EB8B6B2D8F27BA1D7ECCAED43E131" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total current </link:label>

<link:label id="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_D09EB8B6B2D8F27BA1D7ECCAED43E131_label_en-US" xlink:label="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_D09EB8B6B2D8F27BA1D7ECCAED43E131" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Current Income Tax Expense (Benefit) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_D09EB8B6B2D8F27BA1D7ECCAED43E131" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_1F85F77316875AD730C6ECCAED43633D_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_1F85F77316875AD730C6ECCAED43633D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred: </link:label>

<link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_1F85F77316875AD730C6ECCAED43633D_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_1F85F77316875AD730C6ECCAED43633D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_1F85F77316875AD730C6ECCAED43633D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_C5D1500DB0AFDECD687CECCAED431A41_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_C5D1500DB0AFDECD687CECCAED431A41" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Federal </link:label>

<link:label id="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_C5D1500DB0AFDECD687CECCAED431A41_label_en-US" xlink:label="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_C5D1500DB0AFDECD687CECCAED431A41" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Federal Income Tax Expense (Benefit) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_C5D1500DB0AFDECD687CECCAED431A41" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_06506E8335C951060A28ECCAED431F40_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_06506E8335C951060A28ECCAED431F40" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> State </link:label>

<link:label id="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_06506E8335C951060A28ECCAED431F40_label_en-US" xlink:label="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_06506E8335C951060A28ECCAED431F40" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred State and Local Income Tax Expense (Benefit) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_06506E8335C951060A28ECCAED431F40" xlink:type="locator"/>

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<link:label id="lab_pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations_0FBDAC547EF1EB582D7BECCAED43AA4C_totalLabel_en-US" xlink:label="lab_pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations_0FBDAC547EF1EB582D7BECCAED43AA4C" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total deferred </link:label>

<link:label id="lab_pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations_0FBDAC547EF1EB582D7BECCAED43AA4C_label_en-US" xlink:label="lab_pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations_0FBDAC547EF1EB582D7BECCAED43AA4C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Income Tax Expense (Benefit) Continuing and Discontinued Operations </link:label>

<link:label id="lab_pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations_0FBDAC547EF1EB582D7BECCAED43AA4C_documentation_en-US" xlink:label="lab_pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations_0FBDAC547EF1EB582D7BECCAED43AA4C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing and discontinued operations. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations" xlink:label="loc_pnw_DeferredIncomeTaxExpenseBenefitContinuingAndDiscontinuedOperations_0FBDAC547EF1EB582D7BECCAED43AA4C" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_AD19D11B2E1C94A93C39ECCAED4378E9_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_AD19D11B2E1C94A93C39ECCAED4378E9" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Income tax expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_AD19D11B2E1C94A93C39ECCAED4378E9" xlink:type="locator"/>

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<link:label id="lab_pnw_JointlyOwnedUtilityPlantsTextBlock_14ADC8F3673C5BF554F491C0267D1E6A_terseLabel_en-US" xlink:label="lab_pnw_JointlyOwnedUtilityPlantsTextBlock_14ADC8F3673C5BF554F491C0267D1E6A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Jointly-Owned Facilities </link:label>

<link:label id="lab_pnw_JointlyOwnedUtilityPlantsTextBlock_14ADC8F3673C5BF554F491C0267D1E6A_label_en-US" xlink:label="lab_pnw_JointlyOwnedUtilityPlantsTextBlock_14ADC8F3673C5BF554F491C0267D1E6A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Jointly Owned Utility Plants [Text Block] </link:label>

<link:label id="lab_pnw_JointlyOwnedUtilityPlantsTextBlock_14ADC8F3673C5BF554F491C0267D1E6A_documentation_en-US" xlink:label="lab_pnw_JointlyOwnedUtilityPlantsTextBlock_14ADC8F3673C5BF554F491C0267D1E6A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the disclosure for jointly-owned facilities. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_JointlyOwnedUtilityPlantsTextBlock" xlink:label="loc_pnw_JointlyOwnedUtilityPlantsTextBlock_14ADC8F3673C5BF554F491C0267D1E6A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_JointlyOwnedUtilityPlantsTextBlock_14ADC8F3673C5BF554F491C0267D1E6A" xlink:to="lab_pnw_JointlyOwnedUtilityPlantsTextBlock_14ADC8F3673C5BF554F491C0267D1E6A" xlink:type="arc"/>

<link:label id="lab_pnw_LinesOfCreditAndShortTermBorrowingAbstract_0FBD7D546CCDD918500FF082B1A5AF7F_label_en-US" xlink:label="lab_pnw_LinesOfCreditAndShortTermBorrowingAbstract_0FBD7D546CCDD918500FF082B1A5AF7F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Lines of Credit and Short-Term Borrowings </link:label>

<link:label id="lab_pnw_LinesOfCreditAndShortTermBorrowingAbstract_0FBD7D546CCDD918500FF082B1A5AF7F_documentation_en-US" xlink:label="lab_pnw_LinesOfCreditAndShortTermBorrowingAbstract_0FBD7D546CCDD918500FF082B1A5AF7F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LinesOfCreditAndShortTermBorrowingAbstract" xlink:label="loc_pnw_LinesOfCreditAndShortTermBorrowingAbstract_0FBD7D546CCDD918500FF082B1A5AF7F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_LinesOfCreditAndShortTermBorrowingAbstract_0FBD7D546CCDD918500FF082B1A5AF7F" xlink:to="lab_pnw_LinesOfCreditAndShortTermBorrowingAbstract_0FBD7D546CCDD918500FF082B1A5AF7F" xlink:type="arc"/>

<link:label id="lab_pnw_ScheduleOfDebtInstrumentsTable_037E8F1566CE9EDD2084F082B1A59BFC_terseLabel_en-US" xlink:label="lab_pnw_ScheduleOfDebtInstrumentsTable_037E8F1566CE9EDD2084F082B1A59BFC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Debt Instruments [Table] </link:label>

<link:label id="lab_pnw_ScheduleOfDebtInstrumentsTable_037E8F1566CE9EDD2084F082B1A59BFC_label_en-US" xlink:label="lab_pnw_ScheduleOfDebtInstrumentsTable_037E8F1566CE9EDD2084F082B1A59BFC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Debt Instruments [Table] </link:label>

<link:label id="lab_pnw_ScheduleOfDebtInstrumentsTable_037E8F1566CE9EDD2084F082B1A59BFC_documentation_en-US" xlink:label="lab_pnw_ScheduleOfDebtInstrumentsTable_037E8F1566CE9EDD2084F082B1A59BFC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> A table or schedule providing information pertaining to short-term and long-term debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ScheduleOfDebtInstrumentsTable" xlink:label="loc_pnw_ScheduleOfDebtInstrumentsTable_037E8F1566CE9EDD2084F082B1A59BFC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ScheduleOfDebtInstrumentsTable_037E8F1566CE9EDD2084F082B1A59BFC" xlink:to="lab_pnw_ScheduleOfDebtInstrumentsTable_037E8F1566CE9EDD2084F082B1A59BFC" xlink:type="arc"/>

<link:label id="lab_us-gaap_RevolvingCreditFacilityMember_49CF0B82CD8F58470FB9F082B1A6B927_terseLabel_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember_49CF0B82CD8F58470FB9F082B1A6B927" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Revolving credit facility </link:label>

<link:label id="lab_us-gaap_RevolvingCreditFacilityMember_49CF0B82CD8F58470FB9F082B1A6B927_label_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember_49CF0B82CD8F58470FB9F082B1A6B927" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Revolving Credit Facility [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevolvingCreditFacilityMember" xlink:label="loc_us-gaap_RevolvingCreditFacilityMember_49CF0B82CD8F58470FB9F082B1A6B927" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevolvingCreditFacilityMember_49CF0B82CD8F58470FB9F082B1A6B927" xlink:to="lab_us-gaap_RevolvingCreditFacilityMember_49CF0B82CD8F58470FB9F082B1A6B927" xlink:type="arc"/>

<link:label id="lab_us-gaap_LetterOfCreditMember_3FAAC05B63D702BE9079F082B1A60D09_verboseLabel_en-US" xlink:label="lab_us-gaap_LetterOfCreditMember_3FAAC05B63D702BE9079F082B1A60D09" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Letter of credit </link:label>

<link:label id="lab_us-gaap_LetterOfCreditMember_3FAAC05B63D702BE9079F082B1A60D09_label_en-US" xlink:label="lab_us-gaap_LetterOfCreditMember_3FAAC05B63D702BE9079F082B1A60D09" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Letter of Credit [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LetterOfCreditMember" xlink:label="loc_us-gaap_LetterOfCreditMember_3FAAC05B63D702BE9079F082B1A60D09" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CommercialPaperMember_EB1DC18608C148CFDAE0F082B1A6E055_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialPaperMember_EB1DC18608C148CFDAE0F082B1A6E055" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commercial paper </link:label>

<link:label id="lab_us-gaap_CommercialPaperMember_EB1DC18608C148CFDAE0F082B1A6E055_label_en-US" xlink:label="lab_us-gaap_CommercialPaperMember_EB1DC18608C148CFDAE0F082B1A6E055" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commercial Paper [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommercialPaperMember" xlink:label="loc_us-gaap_CommercialPaperMember_EB1DC18608C148CFDAE0F082B1A6E055" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DebtInstrumentAxis_8C67B877557AB10797AAF082B1A67BCC_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis_8C67B877557AB10797AAF082B1A67BCC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt Instrument [Axis] </link:label>

<link:label id="lab_us-gaap_DebtInstrumentAxis_8C67B877557AB10797AAF082B1A67BCC_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis_8C67B877557AB10797AAF082B1A67BCC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_8C67B877557AB10797AAF082B1A67BCC" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DebtInstrumentNameDomain_10F8F2ED01B5DB0F2DCEF082B1A7B1E4_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain_10F8F2ED01B5DB0F2DCEF082B1A7B1E4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Name [Domain] </link:label>

<link:label id="lab_us-gaap_DebtInstrumentNameDomain_10F8F2ED01B5DB0F2DCEF082B1A7B1E4_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain_10F8F2ED01B5DB0F2DCEF082B1A7B1E4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Name [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_10F8F2ED01B5DB0F2DCEF082B1A7B1E4" xlink:type="locator"/>

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<link:label id="lab_pnw_LineOfCreditMaturingIn2019Member_2ECAF39B87C68B5A7EC5F082B1A7F571_terseLabel_en-US" xlink:label="lab_pnw_LineOfCreditMaturingIn2019Member_2ECAF39B87C68B5A7EC5F082B1A7F571" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Revolving credit facility maturing in 2019 </link:label>

<link:label id="lab_pnw_LineOfCreditMaturingIn2019Member_2ECAF39B87C68B5A7EC5F082B1A7F571_label_en-US" xlink:label="lab_pnw_LineOfCreditMaturingIn2019Member_2ECAF39B87C68B5A7EC5F082B1A7F571" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line of Credit Maturing in 2019 [Member] </link:label>

<link:label id="lab_pnw_LineOfCreditMaturingIn2019Member_2ECAF39B87C68B5A7EC5F082B1A7F571_documentation_en-US" xlink:label="lab_pnw_LineOfCreditMaturingIn2019Member_2ECAF39B87C68B5A7EC5F082B1A7F571" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the credit facility maturing in May 2019. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LineOfCreditMaturingIn2019Member" xlink:label="loc_pnw_LineOfCreditMaturingIn2019Member_2ECAF39B87C68B5A7EC5F082B1A7F571" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_LineOfCreditMaturingIn2019Member_2ECAF39B87C68B5A7EC5F082B1A7F571" xlink:to="lab_pnw_LineOfCreditMaturingIn2019Member_2ECAF39B87C68B5A7EC5F082B1A7F571" xlink:type="arc"/>

<link:label id="lab_pnw_RevolvingCreditFacilitiesMaturingin2020and2019Member_D7F6C18A37510C0B9945F082B1A7A0FB_terseLabel_en-US" xlink:label="lab_pnw_RevolvingCreditFacilitiesMaturingin2020and2019Member_D7F6C18A37510C0B9945F082B1A7A0FB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Revolving credit facilities maturing in 2019 and 2020 </link:label>

<link:label id="lab_pnw_RevolvingCreditFacilitiesMaturingin2020and2019Member_D7F6C18A37510C0B9945F082B1A7A0FB_label_en-US" xlink:label="lab_pnw_RevolvingCreditFacilitiesMaturingin2020and2019Member_D7F6C18A37510C0B9945F082B1A7A0FB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Revolving Credit Facilities Maturing in 2020 and 2019 [Member] </link:label>

<link:label id="lab_pnw_RevolvingCreditFacilitiesMaturingin2020and2019Member_D7F6C18A37510C0B9945F082B1A7A0FB_documentation_en-US" xlink:label="lab_pnw_RevolvingCreditFacilitiesMaturingin2020and2019Member_D7F6C18A37510C0B9945F082B1A7A0FB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Revolving Credit Facilities Maturing in 2020 and 2019 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RevolvingCreditFacilitiesMaturingin2020and2019Member" xlink:label="loc_pnw_RevolvingCreditFacilitiesMaturingin2020and2019Member_D7F6C18A37510C0B9945F082B1A7A0FB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RevolvingCreditFacilitiesMaturingin2020and2019Member_D7F6C18A37510C0B9945F082B1A7A0FB" xlink:to="lab_pnw_RevolvingCreditFacilitiesMaturingin2020and2019Member_D7F6C18A37510C0B9945F082B1A7A0FB" xlink:type="arc"/>

<link:label id="lab_pnw_RevolvingCreditFacilityMaturingSeptember2020Member_C736672C81B449D42515F082B1A7ECBE_terseLabel_en-US" xlink:label="lab_pnw_RevolvingCreditFacilityMaturingSeptember2020Member_C736672C81B449D42515F082B1A7ECBE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Revolving credit facility maturing September 2020 </link:label>

<link:label id="lab_pnw_RevolvingCreditFacilityMaturingSeptember2020Member_C736672C81B449D42515F082B1A7ECBE_label_en-US" xlink:label="lab_pnw_RevolvingCreditFacilityMaturingSeptember2020Member_C736672C81B449D42515F082B1A7ECBE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Revolving Credit Facility Maturing September 2020 [Member] </link:label>

<link:label id="lab_pnw_RevolvingCreditFacilityMaturingSeptember2020Member_C736672C81B449D42515F082B1A7ECBE_documentation_en-US" xlink:label="lab_pnw_RevolvingCreditFacilityMaturingSeptember2020Member_C736672C81B449D42515F082B1A7ECBE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Revolving Credit Facility Maturing September 2020 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RevolvingCreditFacilityMaturingSeptember2020Member" xlink:label="loc_pnw_RevolvingCreditFacilityMaturingSeptember2020Member_C736672C81B449D42515F082B1A7ECBE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RevolvingCreditFacilityMaturingSeptember2020Member_C736672C81B449D42515F082B1A7ECBE" xlink:to="lab_pnw_RevolvingCreditFacilityMaturingSeptember2020Member_C736672C81B449D42515F082B1A7ECBE" xlink:type="arc"/>

<link:label id="lab_pnw_RevolvingCreditFacilityMaturingMay2019Member_4ADB7D68C4887BFCC8F1F082B1A7CC72_terseLabel_en-US" xlink:label="lab_pnw_RevolvingCreditFacilityMaturingMay2019Member_4ADB7D68C4887BFCC8F1F082B1A7CC72" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Revolving credit facility maturing in May 2019 </link:label>

<link:label id="lab_pnw_RevolvingCreditFacilityMaturingMay2019Member_4ADB7D68C4887BFCC8F1F082B1A7CC72_label_en-US" xlink:label="lab_pnw_RevolvingCreditFacilityMaturingMay2019Member_4ADB7D68C4887BFCC8F1F082B1A7CC72" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Revolving Credit Facility Maturing May 2019 [Member] </link:label>

<link:label id="lab_pnw_RevolvingCreditFacilityMaturingMay2019Member_4ADB7D68C4887BFCC8F1F082B1A7CC72_documentation_en-US" xlink:label="lab_pnw_RevolvingCreditFacilityMaturingMay2019Member_4ADB7D68C4887BFCC8F1F082B1A7CC72" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Revolving Credit Facility Maturing May 2019 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RevolvingCreditFacilityMaturingMay2019Member" xlink:label="loc_pnw_RevolvingCreditFacilityMaturingMay2019Member_4ADB7D68C4887BFCC8F1F082B1A7CC72" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RevolvingCreditFacilityMaturingMay2019Member_4ADB7D68C4887BFCC8F1F082B1A7CC72" xlink:to="lab_pnw_RevolvingCreditFacilityMaturingMay2019Member_4ADB7D68C4887BFCC8F1F082B1A7CC72" xlink:type="arc"/>

<link:label id="lab_pnw_RevolvingCreditFacilityMaturingApril2018Member_5DD7A4D9563280ADD425F082B1A7F5CB_terseLabel_en-US" xlink:label="lab_pnw_RevolvingCreditFacilityMaturingApril2018Member_5DD7A4D9563280ADD425F082B1A7F5CB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Revolving credit facility maturing April 2018 </link:label>

<link:label id="lab_pnw_RevolvingCreditFacilityMaturingApril2018Member_5DD7A4D9563280ADD425F082B1A7F5CB_label_en-US" xlink:label="lab_pnw_RevolvingCreditFacilityMaturingApril2018Member_5DD7A4D9563280ADD425F082B1A7F5CB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Revolving Credit Facility Maturing April 2018 [Member] </link:label>

<link:label id="lab_pnw_RevolvingCreditFacilityMaturingApril2018Member_5DD7A4D9563280ADD425F082B1A7F5CB_documentation_en-US" xlink:label="lab_pnw_RevolvingCreditFacilityMaturingApril2018Member_5DD7A4D9563280ADD425F082B1A7F5CB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Revolving Credit Facility Maturing April 2018 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RevolvingCreditFacilityMaturingApril2018Member" xlink:label="loc_pnw_RevolvingCreditFacilityMaturingApril2018Member_5DD7A4D9563280ADD425F082B1A7F5CB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RevolvingCreditFacilityMaturingApril2018Member_5DD7A4D9563280ADD425F082B1A7F5CB" xlink:to="lab_pnw_RevolvingCreditFacilityMaturingApril2018Member_5DD7A4D9563280ADD425F082B1A7F5CB" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryAgencyAxis_F0946685B21E2A9E691FF082B1A7D812_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryAgencyAxis_F0946685B21E2A9E691FF082B1A7D812" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory Agency [Axis] </link:label>

<link:label id="lab_us-gaap_RegulatoryAgencyAxis_F0946685B21E2A9E691FF082B1A7D812_label_en-US" xlink:label="lab_us-gaap_RegulatoryAgencyAxis_F0946685B21E2A9E691FF082B1A7D812" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Agency [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryAgencyAxis" xlink:label="loc_us-gaap_RegulatoryAgencyAxis_F0946685B21E2A9E691FF082B1A7D812" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryAgencyAxis_F0946685B21E2A9E691FF082B1A7D812" xlink:to="lab_us-gaap_RegulatoryAgencyAxis_F0946685B21E2A9E691FF082B1A7D812" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryAgencyDomain_1DDBA83202B473E0F037F082B1A777D2_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryAgencyDomain_1DDBA83202B473E0F037F082B1A777D2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory Agency [Domain] </link:label>

<link:label id="lab_us-gaap_RegulatoryAgencyDomain_1DDBA83202B473E0F037F082B1A777D2_label_en-US" xlink:label="lab_us-gaap_RegulatoryAgencyDomain_1DDBA83202B473E0F037F082B1A777D2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Agency [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryAgencyDomain" xlink:label="loc_us-gaap_RegulatoryAgencyDomain_1DDBA83202B473E0F037F082B1A777D2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryAgencyDomain_1DDBA83202B473E0F037F082B1A777D2" xlink:to="lab_us-gaap_RegulatoryAgencyDomain_1DDBA83202B473E0F037F082B1A777D2" xlink:type="arc"/>

<link:label id="lab_pnw_ArizonaCorporationCommissionMember_FD902EB94C0415384312F082B1A70A69_terseLabel_en-US" xlink:label="lab_pnw_ArizonaCorporationCommissionMember_FD902EB94C0415384312F082B1A70A69" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> ACC </link:label>

<link:label id="lab_pnw_ArizonaCorporationCommissionMember_FD902EB94C0415384312F082B1A70A69_label_en-US" xlink:label="lab_pnw_ArizonaCorporationCommissionMember_FD902EB94C0415384312F082B1A70A69" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Arizona Corporation Commission [Member] </link:label>

<link:label id="lab_pnw_ArizonaCorporationCommissionMember_FD902EB94C0415384312F082B1A70A69_documentation_en-US" xlink:label="lab_pnw_ArizonaCorporationCommissionMember_FD902EB94C0415384312F082B1A70A69" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the Arizona Corporation Commission (ACC), which regulates public utilities in Arizona. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ArizonaCorporationCommissionMember" xlink:label="loc_pnw_ArizonaCorporationCommissionMember_FD902EB94C0415384312F082B1A70A69" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ArizonaCorporationCommissionMember_FD902EB94C0415384312F082B1A70A69" xlink:to="lab_pnw_ArizonaCorporationCommissionMember_FD902EB94C0415384312F082B1A70A69" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShortTermDebtLineItems_2E9860DB2A643175B62EF082B1A7AF9F_terseLabel_en-US" xlink:label="lab_us-gaap_ShortTermDebtLineItems_2E9860DB2A643175B62EF082B1A7AF9F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Lines of Credit and Short-Term Borrowings </link:label>

<link:label id="lab_us-gaap_ShortTermDebtLineItems_2E9860DB2A643175B62EF082B1A7AF9F_label_en-US" xlink:label="lab_us-gaap_ShortTermDebtLineItems_2E9860DB2A643175B62EF082B1A7AF9F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Short-term Debt [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShortTermDebtLineItems" xlink:label="loc_us-gaap_ShortTermDebtLineItems_2E9860DB2A643175B62EF082B1A7AF9F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShortTermDebtLineItems_2E9860DB2A643175B62EF082B1A7AF9F" xlink:to="lab_us-gaap_ShortTermDebtLineItems_2E9860DB2A643175B62EF082B1A7AF9F" xlink:type="arc"/>

<link:label id="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_9C790D474D3FE71CA2ECF082B1A7BA0C_verboseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_9C790D474D3FE71CA2ECF082B1A7BA0C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Amount committed </link:label>

<link:label id="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_9C790D474D3FE71CA2ECF082B1A7BA0C_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_9C790D474D3FE71CA2ECF082B1A7BA0C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line of Credit Facility, Current Borrowing Capacity </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_9C790D474D3FE71CA2ECF082B1A7BA0C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_9C790D474D3FE71CA2ECF082B1A7BA0C" xlink:to="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_9C790D474D3FE71CA2ECF082B1A7BA0C" xlink:type="arc"/>

<link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_CECA19C403D414BB1820F082B1A769E5_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_CECA19C403D414BB1820F082B1A769E5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maximum borrowing capacity on credit facility upon satisfaction of certain conditions and consent of lenders </link:label>

<link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_CECA19C403D414BB1820F082B1A769E5_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_CECA19C403D414BB1820F082B1A769E5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line of Credit Facility, Maximum Borrowing Capacity </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_CECA19C403D414BB1820F082B1A769E5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_CECA19C403D414BB1820F082B1A769E5" xlink:to="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_CECA19C403D414BB1820F082B1A769E5" xlink:type="arc"/>

<link:label id="lab_us-gaap_LineOfCredit_4C573A395EDDAF69F759F082B1A7F478_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCredit_4C573A395EDDAF69F759F082B1A7F478" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Long-term line of credit </link:label>

<link:label id="lab_us-gaap_LineOfCredit_4C573A395EDDAF69F759F082B1A7F478_label_en-US" xlink:label="lab_us-gaap_LineOfCredit_4C573A395EDDAF69F759F082B1A7F478" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Line of Credit </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCredit" xlink:label="loc_us-gaap_LineOfCredit_4C573A395EDDAF69F759F082B1A7F478" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCredit_4C573A395EDDAF69F759F082B1A7F478" xlink:to="lab_us-gaap_LineOfCredit_4C573A395EDDAF69F759F082B1A7F478" xlink:type="arc"/>

<link:label id="lab_us-gaap_CommercialPaper_7551ED14871642DD5097F082B1A743E1_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialPaper_7551ED14871642DD5097F082B1A743E1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commercial paper </link:label>

<link:label id="lab_us-gaap_CommercialPaper_7551ED14871642DD5097F082B1A743E1_label_en-US" xlink:label="lab_us-gaap_CommercialPaper_7551ED14871642DD5097F082B1A743E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commercial Paper </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommercialPaper" xlink:label="loc_us-gaap_CommercialPaper_7551ED14871642DD5097F082B1A743E1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommercialPaper_7551ED14871642DD5097F082B1A743E1" xlink:to="lab_us-gaap_CommercialPaper_7551ED14871642DD5097F082B1A743E1" xlink:type="arc"/>

<link:label id="lab_pnw_LineOfCreditFacilityNumberOfAgreements_E4CFB7AAF6505BA6CD52F082B1A7DB27_terseLabel_en-US" xlink:label="lab_pnw_LineOfCreditFacilityNumberOfAgreements_E4CFB7AAF6505BA6CD52F082B1A7DB27" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of credit facilities </link:label>

<link:label id="lab_pnw_LineOfCreditFacilityNumberOfAgreements_E4CFB7AAF6505BA6CD52F082B1A7DB27_label_en-US" xlink:label="lab_pnw_LineOfCreditFacilityNumberOfAgreements_E4CFB7AAF6505BA6CD52F082B1A7DB27" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line of Credit Facility, Number of Agreements </link:label>

<link:label id="lab_pnw_LineOfCreditFacilityNumberOfAgreements_E4CFB7AAF6505BA6CD52F082B1A7DB27_documentation_en-US" xlink:label="lab_pnw_LineOfCreditFacilityNumberOfAgreements_E4CFB7AAF6505BA6CD52F082B1A7DB27" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the number of line of credit facilities. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LineOfCreditFacilityNumberOfAgreements" xlink:label="loc_pnw_LineOfCreditFacilityNumberOfAgreements_E4CFB7AAF6505BA6CD52F082B1A7DB27" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_LineOfCreditFacilityNumberOfAgreements_E4CFB7AAF6505BA6CD52F082B1A7DB27" xlink:to="lab_pnw_LineOfCreditFacilityNumberOfAgreements_E4CFB7AAF6505BA6CD52F082B1A7DB27" xlink:type="arc"/>

<link:label id="lab_pnw_LineOfCreditFacilityCommercialPaperProgramMaximumBorrowingCapacity_7C8D36233C9A0786ED15F082B1A707C1_terseLabel_en-US" xlink:label="lab_pnw_LineOfCreditFacilityCommercialPaperProgramMaximumBorrowingCapacity_7C8D36233C9A0786ED15F082B1A707C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maximum commercial paper support available under credit facility </link:label>

<link:label id="lab_pnw_LineOfCreditFacilityCommercialPaperProgramMaximumBorrowingCapacity_7C8D36233C9A0786ED15F082B1A707C1_label_en-US" xlink:label="lab_pnw_LineOfCreditFacilityCommercialPaperProgramMaximumBorrowingCapacity_7C8D36233C9A0786ED15F082B1A707C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line of Credit Facility, Commercial Paper Program Maximum Borrowing Capacity </link:label>

<link:label id="lab_pnw_LineOfCreditFacilityCommercialPaperProgramMaximumBorrowingCapacity_7C8D36233C9A0786ED15F082B1A707C1_documentation_en-US" xlink:label="lab_pnw_LineOfCreditFacilityCommercialPaperProgramMaximumBorrowingCapacity_7C8D36233C9A0786ED15F082B1A707C1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the maximum borrowings available for the commercial paper program under the terms of line of credit facility. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LineOfCreditFacilityCommercialPaperProgramMaximumBorrowingCapacity" xlink:label="loc_pnw_LineOfCreditFacilityCommercialPaperProgramMaximumBorrowingCapacity_7C8D36233C9A0786ED15F082B1A707C1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_LineOfCreditFacilityCommercialPaperProgramMaximumBorrowingCapacity_7C8D36233C9A0786ED15F082B1A707C1" xlink:to="lab_pnw_LineOfCreditFacilityCommercialPaperProgramMaximumBorrowingCapacity_7C8D36233C9A0786ED15F082B1A707C1" xlink:type="arc"/>

<link:label id="lab_pnw_DebtProvisionsAbstract_AC79848C68595EDB7293F082B1A7610F_terseLabel_en-US" xlink:label="lab_pnw_DebtProvisionsAbstract_AC79848C68595EDB7293F082B1A7610F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt Provisions </link:label>

<link:label id="lab_pnw_DebtProvisionsAbstract_AC79848C68595EDB7293F082B1A7610F_label_en-US" xlink:label="lab_pnw_DebtProvisionsAbstract_AC79848C68595EDB7293F082B1A7610F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Provisions [Abstract] </link:label>

<link:label id="lab_pnw_DebtProvisionsAbstract_AC79848C68595EDB7293F082B1A7610F_documentation_en-US" xlink:label="lab_pnw_DebtProvisionsAbstract_AC79848C68595EDB7293F082B1A7610F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DebtProvisionsAbstract" xlink:label="loc_pnw_DebtProvisionsAbstract_AC79848C68595EDB7293F082B1A7610F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DebtProvisionsAbstract_AC79848C68595EDB7293F082B1A7610F" xlink:to="lab_pnw_DebtProvisionsAbstract_AC79848C68595EDB7293F082B1A7610F" xlink:type="arc"/>

<link:label id="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationAsPercentageOfCapitalization_6E97964D30A3C79027F8F082B1A7B0E4_terseLabel_en-US" xlink:label="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationAsPercentageOfCapitalization_6E97964D30A3C79027F8F082B1A7B0E4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of APS's capitalization used in calculation of short-term debt authorization </link:label>

<link:label id="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationAsPercentageOfCapitalization_6E97964D30A3C79027F8F082B1A7B0E4_label_en-US" xlink:label="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationAsPercentageOfCapitalization_6E97964D30A3C79027F8F082B1A7B0E4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utility Order Short Term Debt Authorization as Percentage of Capitalization </link:label>

<link:label id="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationAsPercentageOfCapitalization_6E97964D30A3C79027F8F082B1A7B0E4_documentation_en-US" xlink:label="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationAsPercentageOfCapitalization_6E97964D30A3C79027F8F082B1A7B0E4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the percentage of capitalization which is used to calculate the short-term debt authorization pursuant to an order from a regulatory authority. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PublicUtilityOrderShortTermDebtAuthorizationAsPercentageOfCapitalization" xlink:label="loc_pnw_PublicUtilityOrderShortTermDebtAuthorizationAsPercentageOfCapitalization_6E97964D30A3C79027F8F082B1A7B0E4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PublicUtilityOrderShortTermDebtAuthorizationAsPercentageOfCapitalization_6E97964D30A3C79027F8F082B1A7B0E4" xlink:to="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationAsPercentageOfCapitalization_6E97964D30A3C79027F8F082B1A7B0E4" xlink:type="arc"/>

<link:label id="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationFixedAmount_1D1EF148D8F0169ABDF3F082B1A7B87D_terseLabel_en-US" xlink:label="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationFixedAmount_1D1EF148D8F0169ABDF3F082B1A7B87D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Required amount to be used in purchases of natural gas and power which is used in calculation of short-term debt authorization </link:label>

<link:label id="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationFixedAmount_1D1EF148D8F0169ABDF3F082B1A7B87D_label_en-US" xlink:label="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationFixedAmount_1D1EF148D8F0169ABDF3F082B1A7B87D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utility Order Short Term Debt Authorization, Fixed Amount </link:label>

<link:label id="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationFixedAmount_1D1EF148D8F0169ABDF3F082B1A7B87D_documentation_en-US" xlink:label="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationFixedAmount_1D1EF148D8F0169ABDF3F082B1A7B87D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the fixed amount required to be used for purchases of natural gas and power which is used to calculate the short-term debt authorization pursuant to an order from a regulatory authority. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PublicUtilityOrderShortTermDebtAuthorizationFixedAmount" xlink:label="loc_pnw_PublicUtilityOrderShortTermDebtAuthorizationFixedAmount_1D1EF148D8F0169ABDF3F082B1A7B87D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PublicUtilityOrderShortTermDebtAuthorizationFixedAmount_1D1EF148D8F0169ABDF3F082B1A7B87D" xlink:to="lab_pnw_PublicUtilityOrderShortTermDebtAuthorizationFixedAmount_1D1EF148D8F0169ABDF3F082B1A7B87D" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_4A5DCDCCA3CFF28F163491C025AAD3D1_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock_4A5DCDCCA3CFF28F163491C025AAD3D1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value Measurements </link:label>

<link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_4A5DCDCCA3CFF28F163491C025AAD3D1_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock_4A5DCDCCA3CFF28F163491C025AAD3D1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Disclosures [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock_4A5DCDCCA3CFF28F163491C025AAD3D1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresTextBlock_4A5DCDCCA3CFF28F163491C025AAD3D1" xlink:to="lab_us-gaap_FairValueDisclosuresTextBlock_4A5DCDCCA3CFF28F163491C025AAD3D1" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_E2688EEC56C8A8874402807F89115BCE_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_E2688EEC56C8A8874402807F89115BCE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of changes in accumulated other comprehensive loss including reclassification adjustments, by component </link:label>

<link:label id="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_E2688EEC56C8A8874402807F89115BCE_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_E2688EEC56C8A8874402807F89115BCE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_E2688EEC56C8A8874402807F89115BCE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_E2688EEC56C8A8874402807F89115BCE" xlink:to="lab_us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_E2688EEC56C8A8874402807F89115BCE" xlink:type="arc"/>

<link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_7595A9F7F48DCE7D4315C6F784E3F831_label_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract_7595A9F7F48DCE7D4315C6F784E3F831" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement of Financial Position [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract_7595A9F7F48DCE7D4315C6F784E3F831" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_7595A9F7F48DCE7D4315C6F784E3F831" xlink:to="lab_us-gaap_StatementOfFinancialPositionAbstract_7595A9F7F48DCE7D4315C6F784E3F831" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetsAbstract_3DAE5F9CCFA78F9B663EC6F784E38C99_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract_3DAE5F9CCFA78F9B663EC6F784E38C99" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> ASSETS </link:label>

<link:label id="lab_us-gaap_AssetsAbstract_3DAE5F9CCFA78F9B663EC6F784E38C99_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract_3DAE5F9CCFA78F9B663EC6F784E38C99" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_3DAE5F9CCFA78F9B663EC6F784E38C99" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract_3DAE5F9CCFA78F9B663EC6F784E38C99" xlink:to="lab_us-gaap_AssetsAbstract_3DAE5F9CCFA78F9B663EC6F784E38C99" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetsCurrentAbstract_CA27DE8B005CA3FA829BC6F784E3A2D1_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsCurrentAbstract_CA27DE8B005CA3FA829BC6F784E3A2D1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> CURRENT ASSETS </link:label>

<link:label id="lab_us-gaap_AssetsCurrentAbstract_CA27DE8B005CA3FA829BC6F784E3A2D1_label_en-US" xlink:label="lab_us-gaap_AssetsCurrentAbstract_CA27DE8B005CA3FA829BC6F784E3A2D1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets, Current [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="loc_us-gaap_AssetsCurrentAbstract_CA27DE8B005CA3FA829BC6F784E3A2D1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsCurrentAbstract_CA27DE8B005CA3FA829BC6F784E3A2D1" xlink:to="lab_us-gaap_AssetsCurrentAbstract_CA27DE8B005CA3FA829BC6F784E3A2D1" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_6EFB24F67C3AE373A400C6F784E3565F_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_6EFB24F67C3AE373A400C6F784E3565F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash and cash equivalents </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_6EFB24F67C3AE373A400C6F784E3565F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_6EFB24F67C3AE373A400C6F784E3565F" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_6EFB24F67C3AE373A400C6F784E3565F" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccountsReceivableGrossCurrent_52165E3833DCC9E1ADD1C6F784E41FF7_verboseLabel_en-US" xlink:label="lab_us-gaap_AccountsReceivableGrossCurrent_52165E3833DCC9E1ADD1C6F784E41FF7" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Customer and other receivables </link:label>

<link:label id="lab_us-gaap_AccountsReceivableGrossCurrent_52165E3833DCC9E1ADD1C6F784E41FF7_label_en-US" xlink:label="lab_us-gaap_AccountsReceivableGrossCurrent_52165E3833DCC9E1ADD1C6F784E41FF7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accounts Receivable, Gross, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableGrossCurrent" xlink:label="loc_us-gaap_AccountsReceivableGrossCurrent_52165E3833DCC9E1ADD1C6F784E41FF7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsReceivableGrossCurrent_52165E3833DCC9E1ADD1C6F784E41FF7" xlink:to="lab_us-gaap_AccountsReceivableGrossCurrent_52165E3833DCC9E1ADD1C6F784E41FF7" xlink:type="arc"/>

<link:label id="lab_us-gaap_CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear_D12F779F7A11A88CBC7EC6F784E47D57_terseLabel_en-US" xlink:label="lab_us-gaap_CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear_D12F779F7A11A88CBC7EC6F784E47D57" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accrued unbilled revenues </link:label>

<link:label id="lab_us-gaap_CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear_D12F779F7A11A88CBC7EC6F784E47D57_label_en-US" xlink:label="lab_us-gaap_CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear_D12F779F7A11A88CBC7EC6F784E47D57" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Costs in Excess of Billings, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear" xlink:label="loc_us-gaap_CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear_D12F779F7A11A88CBC7EC6F784E47D57" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear_D12F779F7A11A88CBC7EC6F784E47D57" xlink:to="lab_us-gaap_CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear_D12F779F7A11A88CBC7EC6F784E47D57" xlink:type="arc"/>

<link:label id="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_F5E86B4ED0C90ED7430AC6F784E45800_negatedLabel_en-US" xlink:label="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_F5E86B4ED0C90ED7430AC6F784E45800" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Allowance for doubtful accounts </link:label>

<link:label id="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_F5E86B4ED0C90ED7430AC6F784E45800_label_en-US" xlink:label="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_F5E86B4ED0C90ED7430AC6F784E45800" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Allowance for Doubtful Accounts Receivable, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:label="loc_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_F5E86B4ED0C90ED7430AC6F784E45800" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_F5E86B4ED0C90ED7430AC6F784E45800" xlink:to="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_F5E86B4ED0C90ED7430AC6F784E45800" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherInventorySupplies_176DDB4334A50E78E31AC6F784E4DB78_terseLabel_en-US" xlink:label="lab_us-gaap_OtherInventorySupplies_176DDB4334A50E78E31AC6F784E4DB78" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Materials and supplies (at average cost) </link:label>

<link:label id="lab_us-gaap_OtherInventorySupplies_176DDB4334A50E78E31AC6F784E4DB78_label_en-US" xlink:label="lab_us-gaap_OtherInventorySupplies_176DDB4334A50E78E31AC6F784E4DB78" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Inventory, Supplies, Gross </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherInventorySupplies" xlink:label="loc_us-gaap_OtherInventorySupplies_176DDB4334A50E78E31AC6F784E4DB78" xlink:type="locator"/>

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<link:label id="lab_us-gaap_EnergyRelatedInventoryOtherFossilFuel_0B4D933220A9EBBA5E6FC6F784E44965_terseLabel_en-US" xlink:label="lab_us-gaap_EnergyRelatedInventoryOtherFossilFuel_0B4D933220A9EBBA5E6FC6F784E44965" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fossil fuel (at average cost) </link:label>

<link:label id="lab_us-gaap_EnergyRelatedInventoryOtherFossilFuel_0B4D933220A9EBBA5E6FC6F784E44965_label_en-US" xlink:label="lab_us-gaap_EnergyRelatedInventoryOtherFossilFuel_0B4D933220A9EBBA5E6FC6F784E44965" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Energy Related Inventory, Other Fossil Fuel </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EnergyRelatedInventoryOtherFossilFuel" xlink:label="loc_us-gaap_EnergyRelatedInventoryOtherFossilFuel_0B4D933220A9EBBA5E6FC6F784E44965" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EnergyRelatedInventoryOtherFossilFuel_0B4D933220A9EBBA5E6FC6F784E44965" xlink:to="lab_us-gaap_EnergyRelatedInventoryOtherFossilFuel_0B4D933220A9EBBA5E6FC6F784E44965" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent_F114147FA2461E5370BCC6F784E4FE62_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent_F114147FA2461E5370BCC6F784E4FE62" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred income taxes (Note 4) </link:label>

<link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent_F114147FA2461E5370BCC6F784E4FE62_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent_F114147FA2461E5370BCC6F784E4FE62" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Net, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent_F114147FA2461E5370BCC6F784E4FE62" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent_F114147FA2461E5370BCC6F784E4FE62" xlink:to="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent_F114147FA2461E5370BCC6F784E4FE62" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeTaxesReceivable_5AEBB17246F30CE0129DC6F784E4A0C1_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxesReceivable_5AEBB17246F30CE0129DC6F784E4A0C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income tax receivable (Note 4) </link:label>

<link:label id="lab_us-gaap_IncomeTaxesReceivable_5AEBB17246F30CE0129DC6F784E4A0C1_label_en-US" xlink:label="lab_us-gaap_IncomeTaxesReceivable_5AEBB17246F30CE0129DC6F784E4A0C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Taxes Receivable, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxesReceivable" xlink:label="loc_us-gaap_IncomeTaxesReceivable_5AEBB17246F30CE0129DC6F784E4A0C1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxesReceivable_5AEBB17246F30CE0129DC6F784E4A0C1" xlink:to="lab_us-gaap_IncomeTaxesReceivable_5AEBB17246F30CE0129DC6F784E4A0C1" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedges_412250DE77DEF824E590C6F784E4B01B_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedges_412250DE77DEF824E590C6F784E4B01B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Assets from risk management activities (Note 16) </link:label>

<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedges_412250DE77DEF824E590C6F784E4B01B_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedges_412250DE77DEF824E590C6F784E4B01B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Instruments and Hedges, Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedges" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedges_412250DE77DEF824E590C6F784E4B01B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedges_412250DE77DEF824E590C6F784E4B01B" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedges_412250DE77DEF824E590C6F784E4B01B" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_493F376EE14F3F715A0FC6F784E43259_terseLabel_en-US" xlink:label="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_493F376EE14F3F715A0FC6F784E43259" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred fuel and purchased power regulatory asset (Note 3) </link:label>

<link:label id="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_493F376EE14F3F715A0FC6F784E43259_label_en-US" xlink:label="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_493F376EE14F3F715A0FC6F784E43259" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Fuel and Purchased Power Regulatory Asset, Current </link:label>

<link:label id="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_493F376EE14F3F715A0FC6F784E43259_documentation_en-US" xlink:label="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_493F376EE14F3F715A0FC6F784E43259" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Carrying amount as of the balance sheet date of deferred fuel and purchased power of regulated entities. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetCurrent" xlink:label="loc_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_493F376EE14F3F715A0FC6F784E43259" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_493F376EE14F3F715A0FC6F784E43259" xlink:to="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_493F376EE14F3F715A0FC6F784E43259" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryAssetsCurrent_3C0403989E943FD8C7FBC6F784E44326_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryAssetsCurrent_3C0403989E943FD8C7FBC6F784E44326" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other regulatory assets (Note 3) </link:label>

<link:label id="lab_us-gaap_RegulatoryAssetsCurrent_3C0403989E943FD8C7FBC6F784E44326_label_en-US" xlink:label="lab_us-gaap_RegulatoryAssetsCurrent_3C0403989E943FD8C7FBC6F784E44326" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Assets, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryAssetsCurrent" xlink:label="loc_us-gaap_RegulatoryAssetsCurrent_3C0403989E943FD8C7FBC6F784E44326" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryAssetsCurrent_3C0403989E943FD8C7FBC6F784E44326" xlink:to="lab_us-gaap_RegulatoryAssetsCurrent_3C0403989E943FD8C7FBC6F784E44326" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherAssetsCurrent_5EE3762E386634AE78EEC6F784E43CD4_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssetsCurrent_5EE3762E386634AE78EEC6F784E43CD4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other current assets </link:label>

<link:label id="lab_us-gaap_OtherAssetsCurrent_5EE3762E386634AE78EEC6F784E43CD4_label_en-US" xlink:label="lab_us-gaap_OtherAssetsCurrent_5EE3762E386634AE78EEC6F784E43CD4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Assets, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="loc_us-gaap_OtherAssetsCurrent_5EE3762E386634AE78EEC6F784E43CD4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssetsCurrent_5EE3762E386634AE78EEC6F784E43CD4" xlink:to="lab_us-gaap_OtherAssetsCurrent_5EE3762E386634AE78EEC6F784E43CD4" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetsCurrent_0EDA276CFD837692542DC6F784E47B7E_totalLabel_en-US" xlink:label="lab_us-gaap_AssetsCurrent_0EDA276CFD837692542DC6F784E47B7E" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total current assets </link:label>

<link:label id="lab_us-gaap_AssetsCurrent_0EDA276CFD837692542DC6F784E47B7E_label_en-US" xlink:label="lab_us-gaap_AssetsCurrent_0EDA276CFD837692542DC6F784E47B7E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="loc_us-gaap_AssetsCurrent_0EDA276CFD837692542DC6F784E47B7E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsCurrent_0EDA276CFD837692542DC6F784E47B7E" xlink:to="lab_us-gaap_AssetsCurrent_0EDA276CFD837692542DC6F784E47B7E" xlink:type="arc"/>

<link:label id="lab_pnw_InvestmentsAndOtherAssetsAbstract_1D232D1FE8F231E5C37BC6F784E421C2_terseLabel_en-US" xlink:label="lab_pnw_InvestmentsAndOtherAssetsAbstract_1D232D1FE8F231E5C37BC6F784E421C2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> INVESTMENTS AND OTHER ASSETS </link:label>

<link:label id="lab_pnw_InvestmentsAndOtherAssetsAbstract_1D232D1FE8F231E5C37BC6F784E421C2_label_en-US" xlink:label="lab_pnw_InvestmentsAndOtherAssetsAbstract_1D232D1FE8F231E5C37BC6F784E421C2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investments and Other Assets [Abstract] </link:label>

<link:label id="lab_pnw_InvestmentsAndOtherAssetsAbstract_1D232D1FE8F231E5C37BC6F784E421C2_documentation_en-US" xlink:label="lab_pnw_InvestmentsAndOtherAssetsAbstract_1D232D1FE8F231E5C37BC6F784E421C2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_InvestmentsAndOtherAssetsAbstract" xlink:label="loc_pnw_InvestmentsAndOtherAssetsAbstract_1D232D1FE8F231E5C37BC6F784E421C2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_InvestmentsAndOtherAssetsAbstract_1D232D1FE8F231E5C37BC6F784E421C2" xlink:to="lab_pnw_InvestmentsAndOtherAssetsAbstract_1D232D1FE8F231E5C37BC6F784E421C2" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgesNoncurrent_53860F05C2562FEB9310C6F784E47769_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgesNoncurrent_53860F05C2562FEB9310C6F784E47769" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Assets from risk management activities (Note 16) </link:label>

<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgesNoncurrent_53860F05C2562FEB9310C6F784E47769_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgesNoncurrent_53860F05C2562FEB9310C6F784E47769" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Instruments and Hedges, Noncurrent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgesNoncurrent" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgesNoncurrent_53860F05C2562FEB9310C6F784E47769" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgesNoncurrent_53860F05C2562FEB9310C6F784E47769" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgesNoncurrent_53860F05C2562FEB9310C6F784E47769" xlink:type="arc"/>

<link:label id="lab_us-gaap_DecommissioningTrustAssetsAmount_8AAA24ED80692EBB5E66C6F784E4B1AD_terseLabel_en-US" xlink:label="lab_us-gaap_DecommissioningTrustAssetsAmount_8AAA24ED80692EBB5E66C6F784E4B1AD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Nuclear decommissioning trust (Notes 13 and 19) </link:label>

<link:label id="lab_us-gaap_DecommissioningTrustAssetsAmount_8AAA24ED80692EBB5E66C6F784E4B1AD_label_en-US" xlink:label="lab_us-gaap_DecommissioningTrustAssetsAmount_8AAA24ED80692EBB5E66C6F784E4B1AD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Decommissioning Fund Investments, Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DecommissioningTrustAssetsAmount" xlink:label="loc_us-gaap_DecommissioningTrustAssetsAmount_8AAA24ED80692EBB5E66C6F784E4B1AD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DecommissioningTrustAssetsAmount_8AAA24ED80692EBB5E66C6F784E4B1AD" xlink:to="lab_us-gaap_DecommissioningTrustAssetsAmount_8AAA24ED80692EBB5E66C6F784E4B1AD" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherAssetsNoncurrent_10D6AEFDB123517293F5C6F784E46FFB_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssetsNoncurrent_10D6AEFDB123517293F5C6F784E46FFB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other assets </link:label>

<link:label id="lab_us-gaap_OtherAssetsNoncurrent_10D6AEFDB123517293F5C6F784E46FFB_label_en-US" xlink:label="lab_us-gaap_OtherAssetsNoncurrent_10D6AEFDB123517293F5C6F784E46FFB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Assets, Noncurrent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="loc_us-gaap_OtherAssetsNoncurrent_10D6AEFDB123517293F5C6F784E46FFB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssetsNoncurrent_10D6AEFDB123517293F5C6F784E46FFB" xlink:to="lab_us-gaap_OtherAssetsNoncurrent_10D6AEFDB123517293F5C6F784E46FFB" xlink:type="arc"/>

<link:label id="lab_pnw_TotalInvestmentsAndOtherAssets_94C7CFC316FCC5D2F952C6F784E4D159_totalLabel_en-US" xlink:label="lab_pnw_TotalInvestmentsAndOtherAssets_94C7CFC316FCC5D2F952C6F784E4D159" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total investments and other assets </link:label>

<link:label id="lab_pnw_TotalInvestmentsAndOtherAssets_94C7CFC316FCC5D2F952C6F784E4D159_label_en-US" xlink:label="lab_pnw_TotalInvestmentsAndOtherAssets_94C7CFC316FCC5D2F952C6F784E4D159" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Total Investments and Other Assets </link:label>

<link:label id="lab_pnw_TotalInvestmentsAndOtherAssets_94C7CFC316FCC5D2F952C6F784E4D159_documentation_en-US" xlink:label="lab_pnw_TotalInvestmentsAndOtherAssets_94C7CFC316FCC5D2F952C6F784E4D159" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Sum of the carrying amounts as of the balance sheet date of all investments and other assets that are expected to be realized in cash, sold, or consumed at a future date that exceeds one year from the balance sheet date. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_TotalInvestmentsAndOtherAssets" xlink:label="loc_pnw_TotalInvestmentsAndOtherAssets_94C7CFC316FCC5D2F952C6F784E4D159" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PropertyPlantAndEquipmentNetAbstract_9E7F2EC9D09E1CB150E8C6F784E49CCE_verboseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNetAbstract_9E7F2EC9D09E1CB150E8C6F784E49CCE" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> PROPERTY, PLANT AND EQUIPMENT (Notes 1, 6 and 9) </link:label>

<link:label id="lab_us-gaap_PropertyPlantAndEquipmentNetAbstract_9E7F2EC9D09E1CB150E8C6F784E49CCE_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNetAbstract_9E7F2EC9D09E1CB150E8C6F784E49CCE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Net [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNetAbstract" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNetAbstract_9E7F2EC9D09E1CB150E8C6F784E49CCE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNetAbstract_9E7F2EC9D09E1CB150E8C6F784E49CCE" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentNetAbstract_9E7F2EC9D09E1CB150E8C6F784E49CCE" xlink:type="arc"/>

<link:label id="lab_us-gaap_PropertyPlantAndEquipmentGross_7D25D32D43A1CC9EE59AC6F784E53329_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentGross_7D25D32D43A1CC9EE59AC6F784E53329" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Plant in service and held for future use </link:label>

<link:label id="lab_us-gaap_PropertyPlantAndEquipmentGross_7D25D32D43A1CC9EE59AC6F784E53329_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentGross_7D25D32D43A1CC9EE59AC6F784E53329" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Gross </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentGross_7D25D32D43A1CC9EE59AC6F784E53329" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentGross_7D25D32D43A1CC9EE59AC6F784E53329" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentGross_7D25D32D43A1CC9EE59AC6F784E53329" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_4457D64C0F86E40A710BC6F784E586C1_negatedLabel_en-US" xlink:label="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_4457D64C0F86E40A710BC6F784E586C1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Accumulated depreciation and amortization </link:label>

<link:label id="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_4457D64C0F86E40A710BC6F784E586C1_label_en-US" xlink:label="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_4457D64C0F86E40A710BC6F784E586C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_4457D64C0F86E40A710BC6F784E586C1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_4457D64C0F86E40A710BC6F784E586C1" xlink:to="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_4457D64C0F86E40A710BC6F784E586C1" xlink:type="arc"/>

<link:label id="lab_us-gaap_PropertyPlantAndEquipmentNet_8F241B9AA9A1985E41FBC6F784E51955_totalLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet_8F241B9AA9A1985E41FBC6F784E51955" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net </link:label>

<link:label id="lab_us-gaap_PropertyPlantAndEquipmentNet_8F241B9AA9A1985E41FBC6F784E51955_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet_8F241B9AA9A1985E41FBC6F784E51955" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Net </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_8F241B9AA9A1985E41FBC6F784E51955" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_8F241B9AA9A1985E41FBC6F784E51955" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentNet_8F241B9AA9A1985E41FBC6F784E51955" xlink:type="arc"/>

<link:label id="lab_us-gaap_ConstructionInProgressGross_0160BF44837849010762C6F784E51C6F_terseLabel_en-US" xlink:label="lab_us-gaap_ConstructionInProgressGross_0160BF44837849010762C6F784E51C6F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Construction work in progress </link:label>

<link:label id="lab_us-gaap_ConstructionInProgressGross_0160BF44837849010762C6F784E51C6F_label_en-US" xlink:label="lab_us-gaap_ConstructionInProgressGross_0160BF44837849010762C6F784E51C6F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Construction in Progress, Gross </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConstructionInProgressGross" xlink:label="loc_us-gaap_ConstructionInProgressGross_0160BF44837849010762C6F784E51C6F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConstructionInProgressGross_0160BF44837849010762C6F784E51C6F" xlink:to="lab_us-gaap_ConstructionInProgressGross_0160BF44837849010762C6F784E51C6F" xlink:type="arc"/>

<link:label id="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_1C3D945DB63AD2A3D3AAC6F784E566A9_verboseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_1C3D945DB63AD2A3D3AAC6F784E566A9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde sale leaseback, net of accumulated depreciation of $233,665 and $229,795 (Note 18) </link:label>

<link:label id="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_1C3D945DB63AD2A3D3AAC6F784E566A9_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_1C3D945DB63AD2A3D3AAC6F784E566A9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity, Consolidated, Carrying Amount, Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets" xlink:label="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_1C3D945DB63AD2A3D3AAC6F784E566A9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_1C3D945DB63AD2A3D3AAC6F784E566A9" xlink:to="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_1C3D945DB63AD2A3D3AAC6F784E566A9" xlink:type="arc"/>

<link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_0EBAC654278C80B40229C6F784E544B0_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_0EBAC654278C80B40229C6F784E544B0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Intangible assets, net of accumulated amortization of $546,038 and $489,538 </link:label>

<link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_0EBAC654278C80B40229C6F784E544B0_label_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_0EBAC654278C80B40229C6F784E544B0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Intangible Assets, Net (Excluding Goodwill) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_0EBAC654278C80B40229C6F784E544B0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_0EBAC654278C80B40229C6F784E544B0" xlink:to="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_0EBAC654278C80B40229C6F784E544B0" xlink:type="arc"/>

<link:label id="lab_us-gaap_NuclearFuelNetOfAmortization_F9D6488D96ED19EEBD22C6F784E500F4_terseLabel_en-US" xlink:label="lab_us-gaap_NuclearFuelNetOfAmortization_F9D6488D96ED19EEBD22C6F784E500F4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Nuclear fuel, net of accumulated amortization of $146,228 and $143,554 </link:label>

<link:label id="lab_us-gaap_NuclearFuelNetOfAmortization_F9D6488D96ED19EEBD22C6F784E500F4_label_en-US" xlink:label="lab_us-gaap_NuclearFuelNetOfAmortization_F9D6488D96ED19EEBD22C6F784E500F4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Nuclear Fuel, Net of Amortization </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NuclearFuelNetOfAmortization" xlink:label="loc_us-gaap_NuclearFuelNetOfAmortization_F9D6488D96ED19EEBD22C6F784E500F4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NuclearFuelNetOfAmortization_F9D6488D96ED19EEBD22C6F784E500F4" xlink:to="lab_us-gaap_NuclearFuelNetOfAmortization_F9D6488D96ED19EEBD22C6F784E500F4" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_05FACBD7FBF714455883C6F784E55282_totalLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_05FACBD7FBF714455883C6F784E55282" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total property, plant and equipment </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_05FACBD7FBF714455883C6F784E55282_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_05FACBD7FBF714455883C6F784E55282" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Property, Plant and Equipment, Net </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_05FACBD7FBF714455883C6F784E55282" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_05FACBD7FBF714455883C6F784E55282" xlink:to="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentNet_05FACBD7FBF714455883C6F784E55282" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredCostsAbstract_962496735C6654CB1E46C6F784E5B4C0_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCostsAbstract_962496735C6654CB1E46C6F784E5B4C0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> DEFERRED DEBITS </link:label>

<link:label id="lab_us-gaap_DeferredCostsAbstract_962496735C6654CB1E46C6F784E5B4C0_label_en-US" xlink:label="lab_us-gaap_DeferredCostsAbstract_962496735C6654CB1E46C6F784E5B4C0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Costs [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCostsAbstract" xlink:label="loc_us-gaap_DeferredCostsAbstract_962496735C6654CB1E46C6F784E5B4C0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCostsAbstract_962496735C6654CB1E46C6F784E5B4C0" xlink:to="lab_us-gaap_DeferredCostsAbstract_962496735C6654CB1E46C6F784E5B4C0" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryAssetsNoncurrent_36E3B08541EB1CE86B72C6F784E519DC_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryAssetsNoncurrent_36E3B08541EB1CE86B72C6F784E519DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory assets (Notes 1, 3 and 4) </link:label>

<link:label id="lab_us-gaap_RegulatoryAssetsNoncurrent_36E3B08541EB1CE86B72C6F784E519DC_label_en-US" xlink:label="lab_us-gaap_RegulatoryAssetsNoncurrent_36E3B08541EB1CE86B72C6F784E519DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Assets, Noncurrent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryAssetsNoncurrent" xlink:label="loc_us-gaap_RegulatoryAssetsNoncurrent_36E3B08541EB1CE86B72C6F784E519DC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryAssetsNoncurrent_36E3B08541EB1CE86B72C6F784E519DC" xlink:to="lab_us-gaap_RegulatoryAssetsNoncurrent_36E3B08541EB1CE86B72C6F784E519DC" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_8F3F3D086D6D07569F37C6F784E5E61D_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_8F3F3D086D6D07569F37C6F784E5E61D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Assets for other postretirement benefits (Note 7) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent" xlink:label="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_8F3F3D086D6D07569F37C6F784E5E61D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_8F3F3D086D6D07569F37C6F784E5E61D" xlink:to="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent_8F3F3D086D6D07569F37C6F784E5E61D" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherDeferredCostsNet_43F1435F81E202E3FB5BC6F784E5DE38_terseLabel_en-US" xlink:label="lab_us-gaap_OtherDeferredCostsNet_43F1435F81E202E3FB5BC6F784E5DE38" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_OtherDeferredCostsNet_43F1435F81E202E3FB5BC6F784E5DE38_label_en-US" xlink:label="lab_us-gaap_OtherDeferredCostsNet_43F1435F81E202E3FB5BC6F784E5DE38" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Deferred Costs, Net </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherDeferredCostsNet" xlink:label="loc_us-gaap_OtherDeferredCostsNet_43F1435F81E202E3FB5BC6F784E5DE38" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherDeferredCostsNet_43F1435F81E202E3FB5BC6F784E5DE38" xlink:to="lab_us-gaap_OtherDeferredCostsNet_43F1435F81E202E3FB5BC6F784E5DE38" xlink:type="arc"/>

<link:label id="lab_pnw_TotalDeferredDebits_1921CB262CDC70FFEE9DC6F784E5B8A2_totalLabel_en-US" xlink:label="lab_pnw_TotalDeferredDebits_1921CB262CDC70FFEE9DC6F784E5B8A2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total deferred debits </link:label>

<link:label id="lab_pnw_TotalDeferredDebits_1921CB262CDC70FFEE9DC6F784E5B8A2_label_en-US" xlink:label="lab_pnw_TotalDeferredDebits_1921CB262CDC70FFEE9DC6F784E5B8A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Total Deferred Debits </link:label>

<link:label id="lab_pnw_TotalDeferredDebits_1921CB262CDC70FFEE9DC6F784E5B8A2_documentation_en-US" xlink:label="lab_pnw_TotalDeferredDebits_1921CB262CDC70FFEE9DC6F784E5B8A2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Sum of the carrying amounts as of the balance sheet date of all regulatory assets and other deferred debits that are expected to be recovered through revenue sources (or the normal operating cycle, if longer). </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_TotalDeferredDebits" xlink:label="loc_pnw_TotalDeferredDebits_1921CB262CDC70FFEE9DC6F784E5B8A2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_TotalDeferredDebits_1921CB262CDC70FFEE9DC6F784E5B8A2" xlink:to="lab_pnw_TotalDeferredDebits_1921CB262CDC70FFEE9DC6F784E5B8A2" xlink:type="arc"/>

<link:label id="lab_us-gaap_Assets_F49B590C5441DEAE0C16C6F784E53A9C_totalLabel_en-US" xlink:label="lab_us-gaap_Assets_F49B590C5441DEAE0C16C6F784E53A9C" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total Assets </link:label>

<link:label id="lab_us-gaap_Assets_F49B590C5441DEAE0C16C6F784E53A9C_label_en-US" xlink:label="lab_us-gaap_Assets_F49B590C5441DEAE0C16C6F784E53A9C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_F49B590C5441DEAE0C16C6F784E53A9C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets_F49B590C5441DEAE0C16C6F784E53A9C" xlink:to="lab_us-gaap_Assets_F49B590C5441DEAE0C16C6F784E53A9C" xlink:type="arc"/>

<link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D59F2040EAAB223FCFA2C6F784E5B41E_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D59F2040EAAB223FCFA2C6F784E5B41E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> LIABILITIES AND EQUITY </link:label>

<link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D59F2040EAAB223FCFA2C6F784E5B41E_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D59F2040EAAB223FCFA2C6F784E5B41E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liabilities and Equity [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D59F2040EAAB223FCFA2C6F784E5B41E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D59F2040EAAB223FCFA2C6F784E5B41E" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D59F2040EAAB223FCFA2C6F784E5B41E" xlink:type="arc"/>

<link:label id="lab_us-gaap_LiabilitiesCurrentAbstract_F30D8C62FA2501B5CF83C6F784E69A7F_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesCurrentAbstract_F30D8C62FA2501B5CF83C6F784E69A7F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> CURRENT LIABILITIES </link:label>

<link:label id="lab_us-gaap_LiabilitiesCurrentAbstract_F30D8C62FA2501B5CF83C6F784E69A7F_label_en-US" xlink:label="lab_us-gaap_LiabilitiesCurrentAbstract_F30D8C62FA2501B5CF83C6F784E69A7F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liabilities, Current [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="loc_us-gaap_LiabilitiesCurrentAbstract_F30D8C62FA2501B5CF83C6F784E69A7F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesCurrentAbstract_F30D8C62FA2501B5CF83C6F784E69A7F" xlink:to="lab_us-gaap_LiabilitiesCurrentAbstract_F30D8C62FA2501B5CF83C6F784E69A7F" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccountsPayableCurrent_E56C4CD749070331B5B3C6F784E62784_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableCurrent_E56C4CD749070331B5B3C6F784E62784" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accounts payable </link:label>

<link:label id="lab_us-gaap_AccountsPayableCurrent_E56C4CD749070331B5B3C6F784E62784_label_en-US" xlink:label="lab_us-gaap_AccountsPayableCurrent_E56C4CD749070331B5B3C6F784E62784" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accounts Payable, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="loc_us-gaap_AccountsPayableCurrent_E56C4CD749070331B5B3C6F784E62784" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsPayableCurrent_E56C4CD749070331B5B3C6F784E62784" xlink:to="lab_us-gaap_AccountsPayableCurrent_E56C4CD749070331B5B3C6F784E62784" xlink:type="arc"/>

<link:label id="lab_us-gaap_TaxesPayableCurrent_AA23D5A75620704EA5D2C6F784E6DB3F_terseLabel_en-US" xlink:label="lab_us-gaap_TaxesPayableCurrent_AA23D5A75620704EA5D2C6F784E6DB3F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accrued taxes (Note 4) </link:label>

<link:label id="lab_us-gaap_TaxesPayableCurrent_AA23D5A75620704EA5D2C6F784E6DB3F_label_en-US" xlink:label="lab_us-gaap_TaxesPayableCurrent_AA23D5A75620704EA5D2C6F784E6DB3F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Taxes Payable, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TaxesPayableCurrent" xlink:label="loc_us-gaap_TaxesPayableCurrent_AA23D5A75620704EA5D2C6F784E6DB3F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TaxesPayableCurrent_AA23D5A75620704EA5D2C6F784E6DB3F" xlink:to="lab_us-gaap_TaxesPayableCurrent_AA23D5A75620704EA5D2C6F784E6DB3F" xlink:type="arc"/>

<link:label id="lab_us-gaap_InterestPayableCurrent_BF7B274CB65BCFD14A79C6F784E639D1_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPayableCurrent_BF7B274CB65BCFD14A79C6F784E639D1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accrued interest </link:label>

<link:label id="lab_us-gaap_InterestPayableCurrent_BF7B274CB65BCFD14A79C6F784E639D1_label_en-US" xlink:label="lab_us-gaap_InterestPayableCurrent_BF7B274CB65BCFD14A79C6F784E639D1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Payable, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestPayableCurrent" xlink:label="loc_us-gaap_InterestPayableCurrent_BF7B274CB65BCFD14A79C6F784E639D1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPayableCurrent_BF7B274CB65BCFD14A79C6F784E639D1" xlink:to="lab_us-gaap_InterestPayableCurrent_BF7B274CB65BCFD14A79C6F784E639D1" xlink:type="arc"/>

<link:label id="lab_us-gaap_DividendsPayableCurrent_46E7C27050E252B062D6C6F784E6FE52_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrent_46E7C27050E252B062D6C6F784E6FE52" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common dividends payable </link:label>

<link:label id="lab_us-gaap_DividendsPayableCurrent_46E7C27050E252B062D6C6F784E6FE52_label_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrent_46E7C27050E252B062D6C6F784E6FE52" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Dividends Payable, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DividendsPayableCurrent" xlink:label="loc_us-gaap_DividendsPayableCurrent_46E7C27050E252B062D6C6F784E6FE52" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPayableCurrent_46E7C27050E252B062D6C6F784E6FE52" xlink:to="lab_us-gaap_DividendsPayableCurrent_46E7C27050E252B062D6C6F784E6FE52" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShortTermBorrowings_83E32BB38A64439677D0C6F784E6E00F_terseLabel_en-US" xlink:label="lab_us-gaap_ShortTermBorrowings_83E32BB38A64439677D0C6F784E6E00F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Short-term borrowings (Note 5) </link:label>

<link:label id="lab_us-gaap_ShortTermBorrowings_83E32BB38A64439677D0C6F784E6E00F_label_en-US" xlink:label="lab_us-gaap_ShortTermBorrowings_83E32BB38A64439677D0C6F784E6E00F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Short-term Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShortTermBorrowings" xlink:label="loc_us-gaap_ShortTermBorrowings_83E32BB38A64439677D0C6F784E6E00F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShortTermBorrowings_83E32BB38A64439677D0C6F784E6E00F" xlink:to="lab_us-gaap_ShortTermBorrowings_83E32BB38A64439677D0C6F784E6E00F" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherLongTermDebtCurrent_CEBB7B1C8097DB8A2B05C6F784E64D6B_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLongTermDebtCurrent_CEBB7B1C8097DB8A2B05C6F784E64D6B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Current maturities of long-term debt (Note 6) </link:label>

<link:label id="lab_us-gaap_OtherLongTermDebtCurrent_CEBB7B1C8097DB8A2B05C6F784E64D6B_label_en-US" xlink:label="lab_us-gaap_OtherLongTermDebtCurrent_CEBB7B1C8097DB8A2B05C6F784E64D6B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Long-term Debt, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherLongTermDebtCurrent" xlink:label="loc_us-gaap_OtherLongTermDebtCurrent_CEBB7B1C8097DB8A2B05C6F784E64D6B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLongTermDebtCurrent_CEBB7B1C8097DB8A2B05C6F784E64D6B" xlink:to="lab_us-gaap_OtherLongTermDebtCurrent_CEBB7B1C8097DB8A2B05C6F784E64D6B" xlink:type="arc"/>

<link:label id="lab_us-gaap_CustomerDepositsCurrent_3862F66AABE313F8F513C6F784E6EE3B_terseLabel_en-US" xlink:label="lab_us-gaap_CustomerDepositsCurrent_3862F66AABE313F8F513C6F784E6EE3B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Customer deposits </link:label>

<link:label id="lab_us-gaap_CustomerDepositsCurrent_3862F66AABE313F8F513C6F784E6EE3B_label_en-US" xlink:label="lab_us-gaap_CustomerDepositsCurrent_3862F66AABE313F8F513C6F784E6EE3B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Customer Deposits, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CustomerDepositsCurrent" xlink:label="loc_us-gaap_CustomerDepositsCurrent_3862F66AABE313F8F513C6F784E6EE3B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CustomerDepositsCurrent_3862F66AABE313F8F513C6F784E6EE3B" xlink:to="lab_us-gaap_CustomerDepositsCurrent_3862F66AABE313F8F513C6F784E6EE3B" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgesLiabilities_6B26440B1CDF0A125B96C6F784E62612_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgesLiabilities_6B26440B1CDF0A125B96C6F784E62612" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities from risk management activities (Note 16) </link:label>

<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgesLiabilities_6B26440B1CDF0A125B96C6F784E62612_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgesLiabilities_6B26440B1CDF0A125B96C6F784E62612" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Instruments and Hedges, Liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgesLiabilities" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgesLiabilities_6B26440B1CDF0A125B96C6F784E62612" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgesLiabilities_6B26440B1CDF0A125B96C6F784E62612" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgesLiabilities_6B26440B1CDF0A125B96C6F784E62612" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetRetirementObligationCurrent_AED28E6B37215616E5DEC6F784E66C8C_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationCurrent_AED28E6B37215616E5DEC6F784E66C8C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities for asset retirements (Note 11) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetRetirementObligationCurrent" xlink:label="loc_us-gaap_AssetRetirementObligationCurrent_AED28E6B37215616E5DEC6F784E66C8C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligationCurrent_AED28E6B37215616E5DEC6F784E66C8C" xlink:to="lab_us-gaap_AssetRetirementObligationCurrent_AED28E6B37215616E5DEC6F784E66C8C" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryLiabilityCurrent_18936BEEA15023F8CF27C6F784E603C9_terseLabel_en-US" xlink:label="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryLiabilityCurrent_18936BEEA15023F8CF27C6F784E603C9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred fuel and purchased power regulatory liability (Note 3) </link:label>

<link:label id="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryLiabilityCurrent_18936BEEA15023F8CF27C6F784E603C9_label_en-US" xlink:label="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryLiabilityCurrent_18936BEEA15023F8CF27C6F784E603C9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Fuel and Purchased Power Regulatory Liability, Current </link:label>

<link:label id="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryLiabilityCurrent_18936BEEA15023F8CF27C6F784E603C9_documentation_en-US" xlink:label="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryLiabilityCurrent_18936BEEA15023F8CF27C6F784E603C9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Deferred Fuel and Purchased Power Regulatory Liability, Current </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredFuelandPurchasedPowerRegulatoryLiabilityCurrent" xlink:label="loc_pnw_DeferredFuelandPurchasedPowerRegulatoryLiabilityCurrent_18936BEEA15023F8CF27C6F784E603C9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredFuelandPurchasedPowerRegulatoryLiabilityCurrent_18936BEEA15023F8CF27C6F784E603C9" xlink:to="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryLiabilityCurrent_18936BEEA15023F8CF27C6F784E603C9" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryLiabilityCurrent_7FCF70BA34E2020089BAC6F784E6EDB1_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryLiabilityCurrent_7FCF70BA34E2020089BAC6F784E6EDB1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other regulatory liabilities (Note 3) </link:label>

<link:label id="lab_us-gaap_RegulatoryLiabilityCurrent_7FCF70BA34E2020089BAC6F784E6EDB1_label_en-US" xlink:label="lab_us-gaap_RegulatoryLiabilityCurrent_7FCF70BA34E2020089BAC6F784E6EDB1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Liability, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryLiabilityCurrent" xlink:label="loc_us-gaap_RegulatoryLiabilityCurrent_7FCF70BA34E2020089BAC6F784E6EDB1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryLiabilityCurrent_7FCF70BA34E2020089BAC6F784E6EDB1" xlink:to="lab_us-gaap_RegulatoryLiabilityCurrent_7FCF70BA34E2020089BAC6F784E6EDB1" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherLiabilitiesCurrent_C93576694E8120858A94C6F784E67348_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesCurrent_C93576694E8120858A94C6F784E67348" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other current liabilities </link:label>

<link:label id="lab_us-gaap_OtherLiabilitiesCurrent_C93576694E8120858A94C6F784E67348_label_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesCurrent_C93576694E8120858A94C6F784E67348" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Liabilities, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherLiabilitiesCurrent" xlink:label="loc_us-gaap_OtherLiabilitiesCurrent_C93576694E8120858A94C6F784E67348" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilitiesCurrent_C93576694E8120858A94C6F784E67348" xlink:to="lab_us-gaap_OtherLiabilitiesCurrent_C93576694E8120858A94C6F784E67348" xlink:type="arc"/>

<link:label id="lab_us-gaap_LiabilitiesCurrent_30CD7B0014F09DC44925C6F784E658D7_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesCurrent_30CD7B0014F09DC44925C6F784E658D7" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total current liabilities </link:label>

<link:label id="lab_us-gaap_LiabilitiesCurrent_30CD7B0014F09DC44925C6F784E658D7_label_en-US" xlink:label="lab_us-gaap_LiabilitiesCurrent_30CD7B0014F09DC44925C6F784E658D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liabilities, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="loc_us-gaap_LiabilitiesCurrent_30CD7B0014F09DC44925C6F784E658D7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesCurrent_30CD7B0014F09DC44925C6F784E658D7" xlink:to="lab_us-gaap_LiabilitiesCurrent_30CD7B0014F09DC44925C6F784E658D7" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongTermDebtNoncurrent_995CA2393422AE0D5AAEC6F784E700D5_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtNoncurrent_995CA2393422AE0D5AAEC6F784E700D5" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> LONG-TERM DEBT LESS CURRENT MATURITIES (Note 6) </link:label>

<link:label id="lab_us-gaap_LongTermDebtNoncurrent_995CA2393422AE0D5AAEC6F784E700D5_label_en-US" xlink:label="lab_us-gaap_LongTermDebtNoncurrent_995CA2393422AE0D5AAEC6F784E700D5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Excluding Current Maturities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="loc_us-gaap_LongTermDebtNoncurrent_995CA2393422AE0D5AAEC6F784E700D5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtNoncurrent_995CA2393422AE0D5AAEC6F784E700D5" xlink:to="lab_us-gaap_LongTermDebtNoncurrent_995CA2393422AE0D5AAEC6F784E700D5" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredCreditsAndOtherLiabilitiesAbstract_0F3EB37F8C7425ACA17BC6F784E7FE43_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCreditsAndOtherLiabilitiesAbstract_0F3EB37F8C7425ACA17BC6F784E7FE43" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> DEFERRED CREDITS AND OTHER </link:label>

<link:label id="lab_us-gaap_DeferredCreditsAndOtherLiabilitiesAbstract_0F3EB37F8C7425ACA17BC6F784E7FE43_label_en-US" xlink:label="lab_us-gaap_DeferredCreditsAndOtherLiabilitiesAbstract_0F3EB37F8C7425ACA17BC6F784E7FE43" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Credits and Other Liabilities [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCreditsAndOtherLiabilitiesAbstract" xlink:label="loc_us-gaap_DeferredCreditsAndOtherLiabilitiesAbstract_0F3EB37F8C7425ACA17BC6F784E7FE43" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DeferredTaxLiabilitiesNoncurrent_3459C89281A7DF8EBB7EC6F784E7E7C1_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesNoncurrent_3459C89281A7DF8EBB7EC6F784E7E7C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred income taxes </link:label>

<link:label id="lab_us-gaap_DeferredTaxLiabilitiesNoncurrent_3459C89281A7DF8EBB7EC6F784E7E7C1_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesNoncurrent_3459C89281A7DF8EBB7EC6F784E7E7C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Net, Noncurrent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxLiabilitiesNoncurrent" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesNoncurrent_3459C89281A7DF8EBB7EC6F784E7E7C1" xlink:type="locator"/>

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<link:label id="lab_us-gaap_RegulatoryLiabilityNoncurrent_575A087C713ADB5CC021C6F784E7ABB4_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryLiabilityNoncurrent_575A087C713ADB5CC021C6F784E7ABB4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory liabilities (Notes 1, 3, 4 and 7) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryLiabilityNoncurrent" xlink:label="loc_us-gaap_RegulatoryLiabilityNoncurrent_575A087C713ADB5CC021C6F784E7ABB4" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AssetRetirementObligationsNoncurrent_1ED932509678500BBB29C6F784E73FFD_terseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationsNoncurrent_1ED932509678500BBB29C6F784E73FFD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities for asset retirements (Note 11) </link:label>

<link:label id="lab_us-gaap_AssetRetirementObligationsNoncurrent_1ED932509678500BBB29C6F784E73FFD_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationsNoncurrent_1ED932509678500BBB29C6F784E73FFD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Retirement Obligations, Noncurrent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetRetirementObligationsNoncurrent" xlink:label="loc_us-gaap_AssetRetirementObligationsNoncurrent_1ED932509678500BBB29C6F784E73FFD" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPensionPlanLiabilitiesNoncurrent_236D6004932D5620E23FC7002FC77892_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPensionPlanLiabilitiesNoncurrent_236D6004932D5620E23FC7002FC77892" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities for pension benefits (Note 7) </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPensionPlanLiabilitiesNoncurrent_236D6004932D5620E23FC7002FC77892_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPensionPlanLiabilitiesNoncurrent_236D6004932D5620E23FC7002FC77892" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Pension Plan, Liabilities, Noncurrent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPensionPlanLiabilitiesNoncurrent" xlink:label="loc_us-gaap_DefinedBenefitPensionPlanLiabilitiesNoncurrent_236D6004932D5620E23FC7002FC77892" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeLiabilitiesNoncurrent_5DB64AE73EAA83C4D7EBC6F784E72BC8_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilitiesNoncurrent_5DB64AE73EAA83C4D7EBC6F784E72BC8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities from risk management activities (Note 16) </link:label>

<link:label id="lab_us-gaap_DerivativeLiabilitiesNoncurrent_5DB64AE73EAA83C4D7EBC6F784E72BC8_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilitiesNoncurrent_5DB64AE73EAA83C4D7EBC6F784E72BC8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Liability, Noncurrent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeLiabilitiesNoncurrent" xlink:label="loc_us-gaap_DerivativeLiabilitiesNoncurrent_5DB64AE73EAA83C4D7EBC6F784E72BC8" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CustomerAdvancesForConstruction_FDE08A6402930CCCFD79C6F784E71BC5_terseLabel_en-US" xlink:label="lab_us-gaap_CustomerAdvancesForConstruction_FDE08A6402930CCCFD79C6F784E71BC5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Customer advances </link:label>

<link:label id="lab_us-gaap_CustomerAdvancesForConstruction_FDE08A6402930CCCFD79C6F784E71BC5_label_en-US" xlink:label="lab_us-gaap_CustomerAdvancesForConstruction_FDE08A6402930CCCFD79C6F784E71BC5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Customer Advances for Construction </link:label>

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<link:label id="lab_us-gaap_MineReclamationAndClosingLiabilityNoncurrent_F17BBF0A70413E24F67FC6F784E706DA_terseLabel_en-US" xlink:label="lab_us-gaap_MineReclamationAndClosingLiabilityNoncurrent_F17BBF0A70413E24F67FC6F784E706DA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Coal mine reclamation </link:label>

<link:label id="lab_us-gaap_MineReclamationAndClosingLiabilityNoncurrent_F17BBF0A70413E24F67FC6F784E706DA_label_en-US" xlink:label="lab_us-gaap_MineReclamationAndClosingLiabilityNoncurrent_F17BBF0A70413E24F67FC6F784E706DA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Mine Reclamation and Closing Liability, Noncurrent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MineReclamationAndClosingLiabilityNoncurrent" xlink:label="loc_us-gaap_MineReclamationAndClosingLiabilityNoncurrent_F17BBF0A70413E24F67FC6F784E706DA" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AccumulatedDeferredInvestmentTaxCredit_28626AE9F42536EC04CCC6F784E72D26_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedDeferredInvestmentTaxCredit_28626AE9F42536EC04CCC6F784E72D26" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred investment tax credit </link:label>

<link:label id="lab_us-gaap_AccumulatedDeferredInvestmentTaxCredit_28626AE9F42536EC04CCC6F784E72D26_label_en-US" xlink:label="lab_us-gaap_AccumulatedDeferredInvestmentTaxCredit_28626AE9F42536EC04CCC6F784E72D26" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Deferred Investment Tax Credit </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedDeferredInvestmentTaxCredit" xlink:label="loc_us-gaap_AccumulatedDeferredInvestmentTaxCredit_28626AE9F42536EC04CCC6F784E72D26" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LiabilityForUncertainTaxPositionsNoncurrent_EEB47A0B9637B90090ACC6F784E7F70A_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilityForUncertainTaxPositionsNoncurrent_EEB47A0B9637B90090ACC6F784E7F70A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unrecognized tax benefits (Note 4) </link:label>

<link:label id="lab_us-gaap_LiabilityForUncertainTaxPositionsNoncurrent_EEB47A0B9637B90090ACC6F784E7F70A_label_en-US" xlink:label="lab_us-gaap_LiabilityForUncertainTaxPositionsNoncurrent_EEB47A0B9637B90090ACC6F784E7F70A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liability for Uncertain Tax Positions, Noncurrent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilityForUncertainTaxPositionsNoncurrent" xlink:label="loc_us-gaap_LiabilityForUncertainTaxPositionsNoncurrent_EEB47A0B9637B90090ACC6F784E7F70A" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherLiabilitiesNoncurrent_CCC951B6726376847947C6F784E7154F_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesNoncurrent_CCC951B6726376847947C6F784E7154F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_OtherLiabilitiesNoncurrent_CCC951B6726376847947C6F784E7154F_label_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesNoncurrent_CCC951B6726376847947C6F784E7154F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Liabilities, Noncurrent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="loc_us-gaap_OtherLiabilitiesNoncurrent_CCC951B6726376847947C6F784E7154F" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DeferredCreditsAndOtherLiabilities_F1EE2A1719DD8A355FFBC6F784E752C1_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredCreditsAndOtherLiabilities_F1EE2A1719DD8A355FFBC6F784E752C1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total deferred credits and other </link:label>

<link:label id="lab_us-gaap_DeferredCreditsAndOtherLiabilities_F1EE2A1719DD8A355FFBC6F784E752C1_label_en-US" xlink:label="lab_us-gaap_DeferredCreditsAndOtherLiabilities_F1EE2A1719DD8A355FFBC6F784E752C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Credits and Other Liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCreditsAndOtherLiabilities" xlink:label="loc_us-gaap_DeferredCreditsAndOtherLiabilities_F1EE2A1719DD8A355FFBC6F784E752C1" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CommitmentsAndContingencies_006B6143E205FD9FC327C6F784E7556D_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies_006B6143E205FD9FC327C6F784E7556D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> COMMITMENTS AND CONTINGENCIES (SEE NOTES) </link:label>

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<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_72FF707E5601B237EB1EC6F784E78A24_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_72FF707E5601B237EB1EC6F784E78A24" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> EQUITY </link:label>

<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_72FF707E5601B237EB1EC6F784E78A24_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_72FF707E5601B237EB1EC6F784E78A24" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] </link:label>

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<link:label id="lab_us-gaap_TreasuryStockValue_D6A8A56573FF4CA479B0C6F784E79CD8_negatedLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockValue_D6A8A56573FF4CA479B0C6F784E79CD8" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Treasury stock at cost; 115,030 shares at end of 2015 and 78,400 shares at end of 2014 </link:label>

<link:label id="lab_us-gaap_TreasuryStockValue_D6A8A56573FF4CA479B0C6F784E79CD8_label_en-US" xlink:label="lab_us-gaap_TreasuryStockValue_D6A8A56573FF4CA479B0C6F784E79CD8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Treasury Stock, Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="loc_us-gaap_TreasuryStockValue_D6A8A56573FF4CA479B0C6F784E79CD8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockValue_D6A8A56573FF4CA479B0C6F784E79CD8" xlink:to="lab_us-gaap_TreasuryStockValue_D6A8A56573FF4CA479B0C6F784E79CD8" xlink:type="arc"/>

<link:label id="lab_us-gaap_CommonStockValueOutstanding_786A32A031E0558E97CEC6F784E7AD84_totalLabel_en-US" xlink:label="lab_us-gaap_CommonStockValueOutstanding_786A32A031E0558E97CEC6F784E7AD84" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total common stock </link:label>

<link:label id="lab_us-gaap_CommonStockValueOutstanding_786A32A031E0558E97CEC6F784E7AD84_label_en-US" xlink:label="lab_us-gaap_CommonStockValueOutstanding_786A32A031E0558E97CEC6F784E7AD84" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock, Value, Outstanding </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockValueOutstanding" xlink:label="loc_us-gaap_CommonStockValueOutstanding_786A32A031E0558E97CEC6F784E7AD84" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValueOutstanding_786A32A031E0558E97CEC6F784E7AD84" xlink:to="lab_us-gaap_CommonStockValueOutstanding_786A32A031E0558E97CEC6F784E7AD84" xlink:type="arc"/>

<link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_18E9155363B0DD062EF4C6F784E8C1E7_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock_18E9155363B0DD062EF4C6F784E8C1E7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additional paid-in capital </link:label>

<link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_18E9155363B0DD062EF4C6F784E8C1E7_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock_18E9155363B0DD062EF4C6F784E8C1E7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Additional Paid in Capital, Common Stock </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="loc_us-gaap_AdditionalPaidInCapitalCommonStock_18E9155363B0DD062EF4C6F784E8C1E7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalCommonStock_18E9155363B0DD062EF4C6F784E8C1E7" xlink:to="lab_us-gaap_AdditionalPaidInCapitalCommonStock_18E9155363B0DD062EF4C6F784E8C1E7" xlink:type="arc"/>

<link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_9CCBCBDD0B8E51A7C2C1C6F784E89B04_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit_9CCBCBDD0B8E51A7C2C1C6F784E89B04" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Retained earnings </link:label>

<link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_9CCBCBDD0B8E51A7C2C1C6F784E89B04_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit_9CCBCBDD0B8E51A7C2C1C6F784E89B04" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Retained Earnings (Accumulated Deficit) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_9CCBCBDD0B8E51A7C2C1C6F784E89B04" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAccumulatedDeficit_9CCBCBDD0B8E51A7C2C1C6F784E89B04" xlink:to="lab_us-gaap_RetainedEarningsAccumulatedDeficit_9CCBCBDD0B8E51A7C2C1C6F784E89B04" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract_E6434DC22A17F1D6EBFCC6F784E8A2F0_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract_E6434DC22A17F1D6EBFCC6F784E8A2F0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated other comprehensive loss: </link:label>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract_E6434DC22A17F1D6EBFCC6F784E8A2F0_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract_E6434DC22A17F1D6EBFCC6F784E8A2F0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract_E6434DC22A17F1D6EBFCC6F784E8A2F0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract_E6434DC22A17F1D6EBFCC6F784E8A2F0" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract_E6434DC22A17F1D6EBFCC6F784E8A2F0" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_33D3D6FCF4A9C01FD4A8C6F784E83FA5_negatedLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_33D3D6FCF4A9C01FD4A8C6F784E83FA5" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Pension and other postretirement benefits (Note 7) </link:label>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_33D3D6FCF4A9C01FD4A8C6F784E83FA5_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_33D3D6FCF4A9C01FD4A8C6F784E83FA5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_33D3D6FCF4A9C01FD4A8C6F784E83FA5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_33D3D6FCF4A9C01FD4A8C6F784E83FA5" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_33D3D6FCF4A9C01FD4A8C6F784E83FA5" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax_2790285C9F82F2ACE3CFC6F784E8A098_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax_2790285C9F82F2ACE3CFC6F784E8A098" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative instruments (Note 16) </link:label>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax_2790285C9F82F2ACE3CFC6F784E8A098_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax_2790285C9F82F2ACE3CFC6F784E8A098" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax_2790285C9F82F2ACE3CFC6F784E8A098" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax_2790285C9F82F2ACE3CFC6F784E8A098" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax_2790285C9F82F2ACE3CFC6F784E8A098" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_1D7DD5574035D150D191C6F784E82836_totalLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_1D7DD5574035D150D191C6F784E82836" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total accumulated other comprehensive loss </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_1D7DD5574035D150D191C6F784E82836" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_1D7DD5574035D150D191C6F784E82836" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_1D7DD5574035D150D191C6F784E82836" xlink:type="arc"/>

<link:label id="lab_us-gaap_StockholdersEquity_A62D79613061E7873EF8C6F784E804A3_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity_A62D79613061E7873EF8C6F784E804A3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total shareholders’ equity </link:label>

<link:label id="lab_us-gaap_StockholdersEquity_A62D79613061E7873EF8C6F784E804A3_label_en-US" xlink:label="lab_us-gaap_StockholdersEquity_A62D79613061E7873EF8C6F784E804A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity Attributable to Parent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity_A62D79613061E7873EF8C6F784E804A3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity_A62D79613061E7873EF8C6F784E804A3" xlink:to="lab_us-gaap_StockholdersEquity_A62D79613061E7873EF8C6F784E804A3" xlink:type="arc"/>

<link:label id="lab_us-gaap_MinorityInterest_202D21689CE51701E352C6F784E80EE5_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterest_202D21689CE51701E352C6F784E80EE5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Noncontrolling interests (Note 18) </link:label>

<link:label id="lab_us-gaap_MinorityInterest_202D21689CE51701E352C6F784E80EE5_label_en-US" xlink:label="lab_us-gaap_MinorityInterest_202D21689CE51701E352C6F784E80EE5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity Attributable to Noncontrolling Interest </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterest" xlink:label="loc_us-gaap_MinorityInterest_202D21689CE51701E352C6F784E80EE5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest_202D21689CE51701E352C6F784E80EE5" xlink:to="lab_us-gaap_MinorityInterest_202D21689CE51701E352C6F784E80EE5" xlink:type="arc"/>

<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_C419E5093AFBD509A8D7C6F784E826C6_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_C419E5093AFBD509A8D7C6F784E826C6" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total equity </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_C419E5093AFBD509A8D7C6F784E826C6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_C419E5093AFBD509A8D7C6F784E826C6" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_C419E5093AFBD509A8D7C6F784E826C6" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongTermDebtAndCapitalLeaseObligations_59D2929151240A9E6E0DC6F784E83754_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtAndCapitalLeaseObligations_59D2929151240A9E6E0DC6F784E83754" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Long-term debt less current maturities (Note 6) </link:label>

<link:label id="lab_us-gaap_LongTermDebtAndCapitalLeaseObligations_59D2929151240A9E6E0DC6F784E83754_label_en-US" xlink:label="lab_us-gaap_LongTermDebtAndCapitalLeaseObligations_59D2929151240A9E6E0DC6F784E83754" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt and Capital Lease Obligations </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligations" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligations_59D2929151240A9E6E0DC6F784E83754" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtAndCapitalLeaseObligations_59D2929151240A9E6E0DC6F784E83754" xlink:to="lab_us-gaap_LongTermDebtAndCapitalLeaseObligations_59D2929151240A9E6E0DC6F784E83754" xlink:type="arc"/>

<link:label id="lab_pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback_8C7A3E53EB06FEF42752C6F784E84612_terseLabel_en-US" xlink:label="lab_pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback_8C7A3E53EB06FEF42752C6F784E84612" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total capitalization </link:label>

<link:label id="lab_pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback_8C7A3E53EB06FEF42752C6F784E84612_label_en-US" xlink:label="lab_pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback_8C7A3E53EB06FEF42752C6F784E84612" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Equity and Long Term Debt Less Current Maturities and Leaseback </link:label>

<link:label id="lab_pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback_8C7A3E53EB06FEF42752C6F784E84612_documentation_en-US" xlink:label="lab_pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback_8C7A3E53EB06FEF42752C6F784E84612" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The sum of total shareholder equity and long-term debt, excluding current maturities of long-term debt and leaseback. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback" xlink:label="loc_pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback_8C7A3E53EB06FEF42752C6F784E84612" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback_8C7A3E53EB06FEF42752C6F784E84612" xlink:to="lab_pnw_EquityAndLongTermDebtLessCurrentMaturitiesAndLeaseback_8C7A3E53EB06FEF42752C6F784E84612" xlink:type="arc"/>

<link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_D1EFEF827F418F327EF2C6F784E86060_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity_D1EFEF827F418F327EF2C6F784E86060" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total Liabilities and Equity </link:label>

<link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_D1EFEF827F418F327EF2C6F784E86060_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity_D1EFEF827F418F327EF2C6F784E86060" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liabilities and Equity </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_D1EFEF827F418F327EF2C6F784E86060" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_D1EFEF827F418F327EF2C6F784E86060" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity_D1EFEF827F418F327EF2C6F784E86060" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesTextBlock_1869A255211FBB11496991C02556CC18_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesTextBlock_1869A255211FBB11496991C02556CC18" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair value of APS's nuclear decommissioning trust fund assets </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesTextBlock_1869A255211FBB11496991C02556CC18_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesTextBlock_1869A255211FBB11496991C02556CC18" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AvailableForSaleSecuritiesTextBlock" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesTextBlock_1869A255211FBB11496991C02556CC18" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesTextBlock_1869A255211FBB11496991C02556CC18" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesTextBlock_1869A255211FBB11496991C02556CC18" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfRealizedGainLossTableTextBlock_1422264CFE86EFFEFF0491C02557A0DD_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRealizedGainLossTableTextBlock_1422264CFE86EFFEFF0491C02557A0DD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Realized gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds </link:label>

<link:label id="lab_us-gaap_ScheduleOfRealizedGainLossTableTextBlock_1422264CFE86EFFEFF0491C02557A0DD_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRealizedGainLossTableTextBlock_1422264CFE86EFFEFF0491C02557A0DD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Realized Gain (Loss) [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRealizedGainLossTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfRealizedGainLossTableTextBlock_1422264CFE86EFFEFF0491C02557A0DD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRealizedGainLossTableTextBlock_1422264CFE86EFFEFF0491C02557A0DD" xlink:to="lab_us-gaap_ScheduleOfRealizedGainLossTableTextBlock_1422264CFE86EFFEFF0491C02557A0DD" xlink:type="arc"/>

<link:label id="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_DC34EEB70082CA8386C691C02557106C_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_DC34EEB70082CA8386C691C02557106C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair value of fixed income securities, summarized by contractual maturities </link:label>

<link:label id="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_DC34EEB70082CA8386C691C02557106C_label_en-US" xlink:label="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_DC34EEB70082CA8386C691C02557106C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investments Classified by Contractual Maturity Date [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock" xlink:label="loc_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_DC34EEB70082CA8386C691C02557106C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_DC34EEB70082CA8386C691C02557106C" xlink:to="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_DC34EEB70082CA8386C691C02557106C" xlink:type="arc"/>

<link:label id="lab_pnw_VariableInterestEntitiesAbstract_D4285AB93EC0D9971DEDD7211ABB2C58_label_en-US" xlink:label="lab_pnw_VariableInterestEntitiesAbstract_D4285AB93EC0D9971DEDD7211ABB2C58" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entities [Abstract] </link:label>

<link:label id="lab_pnw_VariableInterestEntitiesAbstract_D4285AB93EC0D9971DEDD7211ABB2C58_documentation_en-US" xlink:label="lab_pnw_VariableInterestEntitiesAbstract_D4285AB93EC0D9971DEDD7211ABB2C58" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Variable Interest Entities [Abstract] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_VariableInterestEntitiesAbstract" xlink:label="loc_pnw_VariableInterestEntitiesAbstract_D4285AB93EC0D9971DEDD7211ABB2C58" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_VariableInterestEntitiesAbstract_D4285AB93EC0D9971DEDD7211ABB2C58" xlink:to="lab_pnw_VariableInterestEntitiesAbstract_D4285AB93EC0D9971DEDD7211ABB2C58" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_445CBC4CBB08A8988B44D7211ABBD1CF_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_445CBC4CBB08A8988B44D7211ABBD1CF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Variable Interest Entities [Table] </link:label>

<link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_445CBC4CBB08A8988B44D7211ABBD1CF_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_445CBC4CBB08A8988B44D7211ABBD1CF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Variable Interest Entities [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_445CBC4CBB08A8988B44D7211ABBD1CF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_445CBC4CBB08A8988B44D7211ABBD1CF" xlink:to="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_445CBC4CBB08A8988B44D7211ABBD1CF" xlink:type="arc"/>

<link:label id="lab_us-gaap_StatementScenarioAxis_7670A13518A0D002B0C0D7211ABB05C9_terseLabel_en-US" xlink:label="lab_us-gaap_StatementScenarioAxis_7670A13518A0D002B0C0D7211ABB05C9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Scenario [Axis] </link:label>

<link:label id="lab_us-gaap_StatementScenarioAxis_7670A13518A0D002B0C0D7211ABB05C9_label_en-US" xlink:label="lab_us-gaap_StatementScenarioAxis_7670A13518A0D002B0C0D7211ABB05C9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Scenario [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="loc_us-gaap_StatementScenarioAxis_7670A13518A0D002B0C0D7211ABB05C9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementScenarioAxis_7670A13518A0D002B0C0D7211ABB05C9" xlink:to="lab_us-gaap_StatementScenarioAxis_7670A13518A0D002B0C0D7211ABB05C9" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScenarioUnspecifiedDomain_3F0B27FFB9392C890174D7211ABC839B_terseLabel_en-US" xlink:label="lab_us-gaap_ScenarioUnspecifiedDomain_3F0B27FFB9392C890174D7211ABC839B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Scenario, Unspecified [Domain] </link:label>

<link:label id="lab_us-gaap_ScenarioUnspecifiedDomain_3F0B27FFB9392C890174D7211ABC839B_label_en-US" xlink:label="lab_us-gaap_ScenarioUnspecifiedDomain_3F0B27FFB9392C890174D7211ABC839B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Scenario, Unspecified [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="loc_us-gaap_ScenarioUnspecifiedDomain_3F0B27FFB9392C890174D7211ABC839B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScenarioUnspecifiedDomain_3F0B27FFB9392C890174D7211ABC839B" xlink:to="lab_us-gaap_ScenarioUnspecifiedDomain_3F0B27FFB9392C890174D7211ABC839B" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScenarioForecastMember_5963B1AF4B9CBDB74089D7211ABC6462_terseLabel_en-US" xlink:label="lab_us-gaap_ScenarioForecastMember_5963B1AF4B9CBDB74089D7211ABC6462" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Scenario, Forecast </link:label>

<link:label id="lab_us-gaap_ScenarioForecastMember_5963B1AF4B9CBDB74089D7211ABC6462_label_en-US" xlink:label="lab_us-gaap_ScenarioForecastMember_5963B1AF4B9CBDB74089D7211ABC6462" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Scenario, Forecast [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScenarioForecastMember" xlink:label="loc_us-gaap_ScenarioForecastMember_5963B1AF4B9CBDB74089D7211ABC6462" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScenarioForecastMember_5963B1AF4B9CBDB74089D7211ABC6462" xlink:to="lab_us-gaap_ScenarioForecastMember_5963B1AF4B9CBDB74089D7211ABC6462" xlink:type="arc"/>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriodAxis_0EC4B4AFB41CB4A72CA1D7211ABC3CBC_terseLabel_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriodAxis_0EC4B4AFB41CB4A72CA1D7211ABC3CBC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Transaction Period [Axis] </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriodAxis_0EC4B4AFB41CB4A72CA1D7211ABC3CBC_label_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriodAxis_0EC4B4AFB41CB4A72CA1D7211ABC3CBC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Transaction Period [Axis] </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriodAxis_0EC4B4AFB41CB4A72CA1D7211ABC3CBC_documentation_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriodAxis_0EC4B4AFB41CB4A72CA1D7211ABC3CBC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertinent to sale and leaseback period. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SaleLeasebackTransactionPeriodAxis" xlink:label="loc_pnw_SaleLeasebackTransactionPeriodAxis_0EC4B4AFB41CB4A72CA1D7211ABC3CBC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SaleLeasebackTransactionPeriodAxis_0EC4B4AFB41CB4A72CA1D7211ABC3CBC" xlink:to="lab_pnw_SaleLeasebackTransactionPeriodAxis_0EC4B4AFB41CB4A72CA1D7211ABC3CBC" xlink:type="arc"/>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriodDomain_A83D1B2011D0381D46DAD7211ABC1429_terseLabel_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriodDomain_A83D1B2011D0381D46DAD7211ABC1429" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Transaction Period [Domain] </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriodDomain_A83D1B2011D0381D46DAD7211ABC1429_label_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriodDomain_A83D1B2011D0381D46DAD7211ABC1429" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Transaction Period [Domain] </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriodDomain_A83D1B2011D0381D46DAD7211ABC1429_documentation_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriodDomain_A83D1B2011D0381D46DAD7211ABC1429" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents details pertaining to sale and leaseback period. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SaleLeasebackTransactionPeriodDomain" xlink:label="loc_pnw_SaleLeasebackTransactionPeriodDomain_A83D1B2011D0381D46DAD7211ABC1429" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SaleLeasebackTransactionPeriodDomain_A83D1B2011D0381D46DAD7211ABC1429" xlink:to="lab_pnw_SaleLeasebackTransactionPeriodDomain_A83D1B2011D0381D46DAD7211ABC1429" xlink:type="arc"/>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriodThrough2023Member_ADFA834BDE597B275859D7211ABC4EC7_terseLabel_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriodThrough2023Member_ADFA834BDE597B275859D7211ABC4EC7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Period Through 2023 </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriodThrough2023Member_ADFA834BDE597B275859D7211ABC4EC7_label_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriodThrough2023Member_ADFA834BDE597B275859D7211ABC4EC7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Transaction Period Through 2023 [Member] </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriodThrough2023Member_ADFA834BDE597B275859D7211ABC4EC7_documentation_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriodThrough2023Member_ADFA834BDE597B275859D7211ABC4EC7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to sale and leaseback period through 2023. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SaleLeasebackTransactionPeriodThrough2023Member" xlink:label="loc_pnw_SaleLeasebackTransactionPeriodThrough2023Member_ADFA834BDE597B275859D7211ABC4EC7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SaleLeasebackTransactionPeriodThrough2023Member_ADFA834BDE597B275859D7211ABC4EC7" xlink:to="lab_pnw_SaleLeasebackTransactionPeriodThrough2023Member_ADFA834BDE597B275859D7211ABC4EC7" xlink:type="arc"/>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriodThrough2033Member_4982965DD631543FFDE6D7211ABCCBEC_terseLabel_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriodThrough2033Member_4982965DD631543FFDE6D7211ABCCBEC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Period Through 2033 </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriodThrough2033Member_4982965DD631543FFDE6D7211ABCCBEC_label_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriodThrough2033Member_4982965DD631543FFDE6D7211ABCCBEC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Transaction Period Through 2033 [Member] </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriodThrough2033Member_4982965DD631543FFDE6D7211ABCCBEC_documentation_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriodThrough2033Member_4982965DD631543FFDE6D7211ABCCBEC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to sale and leaseback period through 2033. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SaleLeasebackTransactionPeriodThrough2033Member" xlink:label="loc_pnw_SaleLeasebackTransactionPeriodThrough2033Member_4982965DD631543FFDE6D7211ABCCBEC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SaleLeasebackTransactionPeriodThrough2033Member_4982965DD631543FFDE6D7211ABCCBEC" xlink:to="lab_pnw_SaleLeasebackTransactionPeriodThrough2033Member_4982965DD631543FFDE6D7211ABCCBEC" xlink:type="arc"/>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriod2016Through2023Member_DF52304E07C9B4EDDF99D7211ABC307D_terseLabel_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriod2016Through2023Member_DF52304E07C9B4EDDF99D7211ABC307D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Period 2016 through 2023 </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriod2016Through2023Member_DF52304E07C9B4EDDF99D7211ABC307D_label_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriod2016Through2023Member_DF52304E07C9B4EDDF99D7211ABC307D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Transaction Period 2016 Through 2023 [Member] </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriod2016Through2023Member_DF52304E07C9B4EDDF99D7211ABC307D_documentation_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriod2016Through2023Member_DF52304E07C9B4EDDF99D7211ABC307D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to sale and leaseback period 2016 through 2023. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SaleLeasebackTransactionPeriod2016Through2023Member" xlink:label="loc_pnw_SaleLeasebackTransactionPeriod2016Through2023Member_DF52304E07C9B4EDDF99D7211ABC307D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SaleLeasebackTransactionPeriod2016Through2023Member_DF52304E07C9B4EDDF99D7211ABC307D" xlink:to="lab_pnw_SaleLeasebackTransactionPeriod2016Through2023Member_DF52304E07C9B4EDDF99D7211ABC307D" xlink:type="arc"/>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriod2024Through2033Member_21A7C341AEDBF8D0EC3FD7211ABC0736_terseLabel_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriod2024Through2033Member_21A7C341AEDBF8D0EC3FD7211ABC0736" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Period 2024 through 2033 </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriod2024Through2033Member_21A7C341AEDBF8D0EC3FD7211ABC0736_label_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriod2024Through2033Member_21A7C341AEDBF8D0EC3FD7211ABC0736" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Transaction Period 2024 Through 2033 [Member] </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionPeriod2024Through2033Member_21A7C341AEDBF8D0EC3FD7211ABC0736_documentation_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionPeriod2024Through2033Member_21A7C341AEDBF8D0EC3FD7211ABC0736" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to sale and leaseback period 2024 through 2033. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SaleLeasebackTransactionPeriod2024Through2033Member" xlink:label="loc_pnw_SaleLeasebackTransactionPeriod2024Through2033Member_21A7C341AEDBF8D0EC3FD7211ABC0736" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SaleLeasebackTransactionPeriod2024Through2033Member_21A7C341AEDBF8D0EC3FD7211ABC0736" xlink:to="lab_pnw_SaleLeasebackTransactionPeriod2024Through2033Member_21A7C341AEDBF8D0EC3FD7211ABC0736" xlink:type="arc"/>

<link:label id="lab_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_59A00C1FF139D1942B6AD7211ABCED3B_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_59A00C1FF139D1942B6AD7211ABCED3B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Variable Interest Entities [Axis] </link:label>

<link:label id="lab_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_59A00C1FF139D1942B6AD7211ABCED3B_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_59A00C1FF139D1942B6AD7211ABCED3B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entities [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis" xlink:label="loc_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_59A00C1FF139D1942B6AD7211ABCED3B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_59A00C1FF139D1942B6AD7211ABCED3B" xlink:to="lab_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_59A00C1FF139D1942B6AD7211ABCED3B" xlink:type="arc"/>

<link:label id="lab_us-gaap_ClassificationOfVariableInterestEntityDomain_85D3E2DCFAF4FF14D265D7211ABC74EB_terseLabel_en-US" xlink:label="lab_us-gaap_ClassificationOfVariableInterestEntityDomain_85D3E2DCFAF4FF14D265D7211ABC74EB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity, Classification [Domain] </link:label>

<link:label id="lab_us-gaap_ClassificationOfVariableInterestEntityDomain_85D3E2DCFAF4FF14D265D7211ABC74EB_label_en-US" xlink:label="lab_us-gaap_ClassificationOfVariableInterestEntityDomain_85D3E2DCFAF4FF14D265D7211ABC74EB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity, Classification [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:label="loc_us-gaap_ClassificationOfVariableInterestEntityDomain_85D3E2DCFAF4FF14D265D7211ABC74EB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassificationOfVariableInterestEntityDomain_85D3E2DCFAF4FF14D265D7211ABC74EB" xlink:to="lab_us-gaap_ClassificationOfVariableInterestEntityDomain_85D3E2DCFAF4FF14D265D7211ABC74EB" xlink:type="arc"/>

<link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_82CCBAAF6AB5ED7D396AD7211ABD0B98_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_82CCBAAF6AB5ED7D396AD7211ABD0B98" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Consolidation of VIEs </link:label>

<link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_82CCBAAF6AB5ED7D396AD7211ABD0B98_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_82CCBAAF6AB5ED7D396AD7211ABD0B98" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity, Primary Beneficiary [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_82CCBAAF6AB5ED7D396AD7211ABD0B98" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_82CCBAAF6AB5ED7D396AD7211ABD0B98" xlink:to="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_82CCBAAF6AB5ED7D396AD7211ABD0B98" xlink:type="arc"/>

<link:label id="lab_us-gaap_VariableInterestEntityLineItems_028CEA85F7A324EF13C8D7211ABDE0C7_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems_028CEA85F7A324EF13C8D7211ABDE0C7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde Sale Leaseback Variable Interest Entities </link:label>

<link:label id="lab_us-gaap_VariableInterestEntityLineItems_028CEA85F7A324EF13C8D7211ABDE0C7_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems_028CEA85F7A324EF13C8D7211ABDE0C7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityLineItems" xlink:label="loc_us-gaap_VariableInterestEntityLineItems_028CEA85F7A324EF13C8D7211ABDE0C7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityLineItems_028CEA85F7A324EF13C8D7211ABDE0C7" xlink:to="lab_us-gaap_VariableInterestEntityLineItems_028CEA85F7A324EF13C8D7211ABDE0C7" xlink:type="arc"/>

<link:label id="lab_pnw_NumberOfVIELessorTrusts_AC922F3BEB9CE7529640D7211ABD8423_terseLabel_en-US" xlink:label="lab_pnw_NumberOfVIELessorTrusts_AC922F3BEB9CE7529640D7211ABD8423" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of VIE lessor trusts </link:label>

<link:label id="lab_pnw_NumberOfVIELessorTrusts_AC922F3BEB9CE7529640D7211ABD8423_label_en-US" xlink:label="lab_pnw_NumberOfVIELessorTrusts_AC922F3BEB9CE7529640D7211ABD8423" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number of VIE Lessor Trusts </link:label>

<link:label id="lab_pnw_NumberOfVIELessorTrusts_AC922F3BEB9CE7529640D7211ABD8423_documentation_en-US" xlink:label="lab_pnw_NumberOfVIELessorTrusts_AC922F3BEB9CE7529640D7211ABD8423" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number of VIE lessor trusts with whom agreements have been made to sell and lease back interests in certain nuclear generating assets and related common facilities. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NumberOfVIELessorTrusts" xlink:label="loc_pnw_NumberOfVIELessorTrusts_AC922F3BEB9CE7529640D7211ABD8423" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NumberOfVIELessorTrusts_AC922F3BEB9CE7529640D7211ABD8423" xlink:to="lab_pnw_NumberOfVIELessorTrusts_AC922F3BEB9CE7529640D7211ABD8423" xlink:type="arc"/>

<link:label id="lab_pnw_SaleLeasebackTransactionNumberOfLeasesUnderWhichAssetsRetainedThroughSpecifiedPeriod_AEA97406BE38AD491856D7211ABDF757_terseLabel_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionNumberOfLeasesUnderWhichAssetsRetainedThroughSpecifiedPeriod_AEA97406BE38AD491856D7211ABDF757" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of leases under which assets are retained </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionNumberOfLeasesUnderWhichAssetsRetainedThroughSpecifiedPeriod_AEA97406BE38AD491856D7211ABDF757_label_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionNumberOfLeasesUnderWhichAssetsRetainedThroughSpecifiedPeriod_AEA97406BE38AD491856D7211ABDF757" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Transaction Number of Leases under which Assets Retained Through Specified Period </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionNumberOfLeasesUnderWhichAssetsRetainedThroughSpecifiedPeriod_AEA97406BE38AD491856D7211ABDF757_documentation_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionNumberOfLeasesUnderWhichAssetsRetainedThroughSpecifiedPeriod_AEA97406BE38AD491856D7211ABDF757" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the number of leases under which assets are retained through a specified period. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SaleLeasebackTransactionNumberOfLeasesUnderWhichAssetsRetainedThroughSpecifiedPeriod" xlink:label="loc_pnw_SaleLeasebackTransactionNumberOfLeasesUnderWhichAssetsRetainedThroughSpecifiedPeriod_AEA97406BE38AD491856D7211ABDF757" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SaleLeasebackTransactionNumberOfLeasesUnderWhichAssetsRetainedThroughSpecifiedPeriod_AEA97406BE38AD491856D7211ABDF757" xlink:to="lab_pnw_SaleLeasebackTransactionNumberOfLeasesUnderWhichAssetsRetainedThroughSpecifiedPeriod_AEA97406BE38AD491856D7211ABDF757" xlink:type="arc"/>

<link:label id="lab_us-gaap_SaleLeasebackTransactionAnnualRentalPayments_58F9A4DA61A24CF0877FD7211ABDE4C8_terseLabel_en-US" xlink:label="lab_us-gaap_SaleLeasebackTransactionAnnualRentalPayments_58F9A4DA61A24CF0877FD7211ABDE4C8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Annual lease payments </link:label>

<link:label id="lab_us-gaap_SaleLeasebackTransactionAnnualRentalPayments_58F9A4DA61A24CF0877FD7211ABDE4C8_label_en-US" xlink:label="lab_us-gaap_SaleLeasebackTransactionAnnualRentalPayments_58F9A4DA61A24CF0877FD7211ABDE4C8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Transaction, Annual Rental Payments </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionAnnualRentalPayments" xlink:label="loc_us-gaap_SaleLeasebackTransactionAnnualRentalPayments_58F9A4DA61A24CF0877FD7211ABDE4C8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleLeasebackTransactionAnnualRentalPayments_58F9A4DA61A24CF0877FD7211ABDE4C8" xlink:to="lab_us-gaap_SaleLeasebackTransactionAnnualRentalPayments_58F9A4DA61A24CF0877FD7211ABDE4C8" xlink:type="arc"/>

<link:label id="lab_pnw_SaleLeasebackTransactionLeasePeriod_171DDE0035BE553CDF8ED7211ABDB307_terseLabel_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionLeasePeriod_171DDE0035BE553CDF8ED7211ABDB307" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Lease period </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionLeasePeriod_171DDE0035BE553CDF8ED7211ABDB307_label_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionLeasePeriod_171DDE0035BE553CDF8ED7211ABDB307" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Transaction Lease Period </link:label>

<link:label id="lab_pnw_SaleLeasebackTransactionLeasePeriod_171DDE0035BE553CDF8ED7211ABDB307_documentation_en-US" xlink:label="lab_pnw_SaleLeasebackTransactionLeasePeriod_171DDE0035BE553CDF8ED7211ABDB307" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the period of lease entered into in connection with the transaction involving the sale of property to another party and the lease of the property back to the seller. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SaleLeasebackTransactionLeasePeriod" xlink:label="loc_pnw_SaleLeasebackTransactionLeasePeriod_171DDE0035BE553CDF8ED7211ABDB307" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SaleLeasebackTransactionLeasePeriod_171DDE0035BE553CDF8ED7211ABDB307" xlink:to="lab_pnw_SaleLeasebackTransactionLeasePeriod_171DDE0035BE553CDF8ED7211ABDB307" xlink:type="arc"/>

<link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_5FCD03A94E5DD1EC5F72D7211ABDD313_netLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_5FCD03A94E5DD1EC5F72D7211ABDD313" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Increase in net income due to consolidation of Palo Verde Sale Leaseback Trusts </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_5FCD03A94E5DD1EC5F72D7211ABDD313" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_5FCD03A94E5DD1EC5F72D7211ABDD313" xlink:to="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_5FCD03A94E5DD1EC5F72D7211ABDD313" xlink:type="arc"/>

<link:label id="lab_pnw_VariableInterestEntityEntityInitialLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_FDF511577CA98BB2EA8DD7211ABDBE63_terseLabel_en-US" xlink:label="lab_pnw_VariableInterestEntityEntityInitialLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_FDF511577CA98BB2EA8DD7211ABDBE63" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> VIE entity initial loss exposure to noncontrolling interests during lease extension period, amount </link:label>

<link:label id="lab_pnw_VariableInterestEntityEntityInitialLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_FDF511577CA98BB2EA8DD7211ABDBE63_label_en-US" xlink:label="lab_pnw_VariableInterestEntityEntityInitialLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_FDF511577CA98BB2EA8DD7211ABDBE63" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity, Entity Initial Loss Exposure to Noncontrolling Interests During Lease Extension Period, Amount </link:label>

<link:label id="lab_pnw_VariableInterestEntityEntityInitialLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_FDF511577CA98BB2EA8DD7211ABDBE63_documentation_en-US" xlink:label="lab_pnw_VariableInterestEntityEntityInitialLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_FDF511577CA98BB2EA8DD7211ABDBE63" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity, Entity Initial Loss Exposure to Noncontrolling Interests During Lease Extension Period, Amount </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_VariableInterestEntityEntityInitialLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount" xlink:label="loc_pnw_VariableInterestEntityEntityInitialLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_FDF511577CA98BB2EA8DD7211ABDBE63" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_VariableInterestEntityEntityInitialLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_FDF511577CA98BB2EA8DD7211ABDBE63" xlink:to="lab_pnw_VariableInterestEntityEntityInitialLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_FDF511577CA98BB2EA8DD7211ABDBE63" xlink:type="arc"/>

<link:label id="lab_pnw_VariableInterestEntityEntityMaximumLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_3384E1DE7CA5D931D168D7211ABDEEB7_terseLabel_en-US" xlink:label="lab_pnw_VariableInterestEntityEntityMaximumLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_3384E1DE7CA5D931D168D7211ABDEEB7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> VIE entity maximum loss exposure to noncontrolling interests during lease extension period, amount </link:label>

<link:label id="lab_pnw_VariableInterestEntityEntityMaximumLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_3384E1DE7CA5D931D168D7211ABDEEB7_label_en-US" xlink:label="lab_pnw_VariableInterestEntityEntityMaximumLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_3384E1DE7CA5D931D168D7211ABDEEB7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity, Entity Maximum Loss Exposure to Noncontrolling Interests During Lease Extension Period, Amount </link:label>

<link:label id="lab_pnw_VariableInterestEntityEntityMaximumLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_3384E1DE7CA5D931D168D7211ABDEEB7_documentation_en-US" xlink:label="lab_pnw_VariableInterestEntityEntityMaximumLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_3384E1DE7CA5D931D168D7211ABDEEB7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity, Entity Maximum Loss Exposure to Noncontrolling Interests During Lease Extension Period, Amount </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_VariableInterestEntityEntityMaximumLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount" xlink:label="loc_pnw_VariableInterestEntityEntityMaximumLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_3384E1DE7CA5D931D168D7211ABDEEB7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_VariableInterestEntityEntityMaximumLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_3384E1DE7CA5D931D168D7211ABDEEB7" xlink:to="lab_pnw_VariableInterestEntityEntityMaximumLossExposuretoNoncontrollingInterestsDuringLeaseExtensionPeriodAmount_3384E1DE7CA5D931D168D7211ABDEEB7" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetAbstract_58075D9DCD2C42015371ECCAED363F90_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetAbstract_58075D9DCD2C42015371ECCAED363F90" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net deferred income tax liability recognized on the Consolidated Balance Sheets </link:label>

<link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetAbstract_58075D9DCD2C42015371ECCAED363F90_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetAbstract_58075D9DCD2C42015371ECCAED363F90" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Net, Classification [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNetAbstract" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNetAbstract_58075D9DCD2C42015371ECCAED363F90" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNetAbstract_58075D9DCD2C42015371ECCAED363F90" xlink:to="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetAbstract_58075D9DCD2C42015371ECCAED363F90" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent_A27B68F1C3904432A269ECCAED362A8A_verboseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent_A27B68F1C3904432A269ECCAED362A8A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Deferred tax asset, current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent_A27B68F1C3904432A269ECCAED362A8A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent_A27B68F1C3904432A269ECCAED362A8A" xlink:to="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent_A27B68F1C3904432A269ECCAED362A8A" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredTaxLiabilitiesNoncurrent_684668F2E7ADB194B2D0ECCAED36C3F4_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesNoncurrent_684668F2E7ADB194B2D0ECCAED36C3F4" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Long-term liability </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxLiabilitiesNoncurrent" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesNoncurrent_684668F2E7ADB194B2D0ECCAED36C3F4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilitiesNoncurrent_684668F2E7ADB194B2D0ECCAED36C3F4" xlink:to="lab_us-gaap_DeferredTaxLiabilitiesNoncurrent_684668F2E7ADB194B2D0ECCAED36C3F4" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredTaxLiabilities_8A16C7F3A1E67F1A591EECCAED362CC1_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilities_8A16C7F3A1E67F1A591EECCAED362CC1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US"> Deferred income taxes — net </link:label>

<link:label id="lab_us-gaap_DeferredTaxLiabilities_8A16C7F3A1E67F1A591EECCAED362CC1_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilities_8A16C7F3A1E67F1A591EECCAED362CC1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Net </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanPost65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitObligation_8F7672A805F11D08814791C0278F22B8_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPost65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitObligation_8F7672A805F11D08814791C0278F22B8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Initial post-65 healthcare cost trend rate (as a percent) </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanUltimateHealthCareCostTrendRateusedinCalculatingBenefitObligations_32111E04128863DEC0DE91C0278FA4CC_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanUltimateHealthCareCostTrendRateusedinCalculatingBenefitObligations_32111E04128863DEC0DE91C0278FA4CC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Ultimate health care cost trend rate (as a percent) </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanUltimateHealthCareCostTrendRateusedinCalculatingBenefitObligations_32111E04128863DEC0DE91C0278FA4CC_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanUltimateHealthCareCostTrendRateusedinCalculatingBenefitObligations_32111E04128863DEC0DE91C0278FA4CC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Ultimate Health Care Cost Trend Rate used in Calculating Benefit Obligations </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanPre65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitObligations_56AFABDC6D5E5545D5CE91C02790E5D0_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPre65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitObligations_56AFABDC6D5E5545D5CE91C02790E5D0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of years to ultimate trend rate (pre-65 participants) </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanPre65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitObligations_56AFABDC6D5E5545D5CE91C02790E5D0_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPre65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitObligations_56AFABDC6D5E5545D5CE91C02790E5D0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Pre-65 Participant, Period after which Rate Reaches Ultimate Trend Rate, used in Calculating Benefit Obligation </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanPost65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitObligations_E7A1D8C80F74677748AE91C0279081C6_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPost65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitObligations_E7A1D8C80F74677748AE91C0279081C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of years to ultimate trend rate (post-65 participants) </link:label>

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<link:label id="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease_94D0D95CED6E837A599191C02790B8E7_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease_94D0D95CED6E837A599191C02790B8E7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Rate of compensation increase (as a percent) </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanPre65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitCosts_2252E81C9417D562CD6091C027908995_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPre65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitCosts_2252E81C9417D562CD6091C027908995" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Initial pre-65 health care cost trend rate (as a percent) </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanPre65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitCosts_2252E81C9417D562CD6091C027908995_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPre65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitCosts_2252E81C9417D562CD6091C027908995" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Pre-65 Health Care Cost Trend Rate Assumed for Next Fiscal Year </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanPost65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitCosts_20A7A3DC808E7DD4FC9991C027900F30_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPost65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitCosts_20A7A3DC808E7DD4FC9991C027900F30" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Initial post-65 health care cost trend rate (as a percent) </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanPost65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitCosts_20A7A3DC808E7DD4FC9991C027900F30_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPost65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitCosts_20A7A3DC808E7DD4FC9991C027900F30" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Post-65 Health Care Cost Trend Rate Assumed for Next Fiscal Year, Used in Calculating Benefit Costs </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanPost65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitCosts_20A7A3DC808E7DD4FC9991C027900F30_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPost65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitCosts_20A7A3DC808E7DD4FC9991C027900F30" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Post-65 Health Care Cost Trend Rate Assumed for Next Fiscal Year, Used in Calculating Benefit Costs </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanPost65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitCosts" xlink:label="loc_pnw_DefinedBenefitPlanPost65HealthCareCostTrendRateAssumedforNextFiscalYearUsedinCalculatingBenefitCosts_20A7A3DC808E7DD4FC9991C027900F30" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlanUltimateHealthCareCostTrendRate_908A110EBCAEF7BB7A9991C02790272A_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanUltimateHealthCareCostTrendRate_908A110EBCAEF7BB7A9991C02790272A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Ultimate healthcare cost trend rate (as a percent) </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanUltimateHealthCareCostTrendRate_908A110EBCAEF7BB7A9991C02790272A_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanUltimateHealthCareCostTrendRate_908A110EBCAEF7BB7A9991C02790272A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Ultimate Health Care Cost Trend Rate </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanUltimateHealthCareCostTrendRate" xlink:label="loc_us-gaap_DefinedBenefitPlanUltimateHealthCareCostTrendRate_908A110EBCAEF7BB7A9991C02790272A" xlink:type="locator"/>

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<link:label id="lab_pnw_DefinedBenefitPlanPre65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_4A6523A5D5775442470491C02790222A_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPre65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_4A6523A5D5775442470491C02790222A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of years to ultimate trend rate (pre-65 participants) </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanPre65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_4A6523A5D5775442470491C02790222A_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPre65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_4A6523A5D5775442470491C02790222A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Pre-65 Participant, Period after which Rate Reaches Ultimate Trend Rate, used in Calculating Benefit Costs </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanPre65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_4A6523A5D5775442470491C02790222A_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPre65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_4A6523A5D5775442470491C02790222A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Pre-65 Participant, Period after which Rate Reaches Ultimate Trend Rate, used in Calculating Benefit Costs </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanPre65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts" xlink:label="loc_pnw_DefinedBenefitPlanPre65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_4A6523A5D5775442470491C02790222A" xlink:type="locator"/>

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<link:label id="lab_pnw_DefinedBenefitPlanPost65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_D70BE23CA7062CA3F6B391C027908D3D_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPost65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_D70BE23CA7062CA3F6B391C027908D3D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of years to ultimate trend rate (post-65 participants) </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanPost65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_D70BE23CA7062CA3F6B391C027908D3D_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPost65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_D70BE23CA7062CA3F6B391C027908D3D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Post-65 Participant, Period after which Rate Reaches Ultimate Trend Rate, used in Calculating Benefit Costs </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanPost65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_D70BE23CA7062CA3F6B391C027908D3D_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanPost65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_D70BE23CA7062CA3F6B391C027908D3D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Post-65 Participant, Period after which Rate Reaches Ultimate Trend Rate, used in Calculating Benefit Costs </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanPost65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts" xlink:label="loc_pnw_DefinedBenefitPlanPost65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_D70BE23CA7062CA3F6B391C027908D3D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DefinedBenefitPlanPost65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_D70BE23CA7062CA3F6B391C027908D3D" xlink:to="lab_pnw_DefinedBenefitPlanPost65ParticipantPeriodafterwhichRateReachesUltimateTrendRateusedinCalculatingBenefitCosts_D70BE23CA7062CA3F6B391C027908D3D" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesAbstract_F2DA47EAF5F3825DE59B91C0279040F8_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesAbstract_F2DA47EAF5F3825DE59B91C0279040F8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Effects of one percentage point change in the assumed initial and ultimate health care cost trend rates </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnOtherPostretirementBenefitsExpense_988C0FF23B8D050A129C91C027908C46_terseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnOtherPostretirementBenefitsExpense_988C0FF23B8D050A129C91C027908C46" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Effect of 1% increase on other postretirement benefits expense, after consideration of amounts capitalized or billed to electric plant participants </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnOtherPostretirementBenefitsExpense_988C0FF23B8D050A129C91C027908C46_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnOtherPostretirementBenefitsExpense_988C0FF23B8D050A129C91C027908C46" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Effect of One Percentage Point Increase on Other Postretirement Benefits Expense </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnOtherPostretirementBenefitsExpense_A0520CFA33026AF9FE2391C0279085B3_negatedTerseLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnOtherPostretirementBenefitsExpense_A0520CFA33026AF9FE2391C0279085B3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Effect of 1% decrease on other postretirement benefits expense, after consideration of amounts capitalized or billed to electric plant participants </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnOtherPostretirementBenefitsExpense_A0520CFA33026AF9FE2391C0279085B3_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnOtherPostretirementBenefitsExpense_A0520CFA33026AF9FE2391C0279085B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan Effect of One Percentage Point Decrease on Other Postretirement Benefits Expense </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnOtherPostretirementBenefitsExpense_A0520CFA33026AF9FE2391C0279085B3_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnOtherPostretirementBenefitsExpense_A0520CFA33026AF9FE2391C0279085B3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The effect of a one-percentage-point decrease in the assumed health care cost trend rates on the other postretirement benefits expense, after consideration of amount capitalized or billed to electric plant participants. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnOtherPostretirementBenefitsExpense" xlink:label="loc_pnw_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnOtherPostretirementBenefitsExpense_A0520CFA33026AF9FE2391C0279085B3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnOtherPostretirementBenefitsExpense_A0520CFA33026AF9FE2391C0279085B3" xlink:to="lab_pnw_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnOtherPostretirementBenefitsExpense_A0520CFA33026AF9FE2391C0279085B3" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents_6C5559A5FAC48929066391C02791E143_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents_6C5559A5FAC48929066391C02791E143" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Effect of 1% increase on service and interest cost components of net periodic other postretirement benefit costs </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents_6C5559A5FAC48929066391C02791E143_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents_6C5559A5FAC48929066391C02791E143" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents" xlink:label="loc_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents_6C5559A5FAC48929066391C02791E143" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents_6C5559A5FAC48929066391C02791E143" xlink:to="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents_6C5559A5FAC48929066391C02791E143" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnServiceAndInterestCostComponents1_CE5B006A0BAC7503EB5791C0279172AF_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnServiceAndInterestCostComponents1_CE5B006A0BAC7503EB5791C0279172AF" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Effect of 1% decrease on service and interest cost components of net periodic other postretirement benefit costs </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnServiceAndInterestCostComponents1_CE5B006A0BAC7503EB5791C0279172AF_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnServiceAndInterestCostComponents1_CE5B006A0BAC7503EB5791C0279172AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnServiceAndInterestCostComponents1" xlink:label="loc_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnServiceAndInterestCostComponents1_CE5B006A0BAC7503EB5791C0279172AF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnServiceAndInterestCostComponents1_CE5B006A0BAC7503EB5791C0279172AF" xlink:to="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnServiceAndInterestCostComponents1_CE5B006A0BAC7503EB5791C0279172AF" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnAccumulatedPostretirementBenefitObligation_A0D53F57B0927DA9D97791C02791A273_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnAccumulatedPostretirementBenefitObligation_A0D53F57B0927DA9D97791C02791A273" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Effect of 1% increase on the accumulated other postretirement benefit obligation </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnAccumulatedPostretirementBenefitObligation_A0D53F57B0927DA9D97791C02791A273_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnAccumulatedPostretirementBenefitObligation_A0D53F57B0927DA9D97791C02791A273" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnAccumulatedPostretirementBenefitObligation" xlink:label="loc_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnAccumulatedPostretirementBenefitObligation_A0D53F57B0927DA9D97791C02791A273" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnAccumulatedPostretirementBenefitObligation_A0D53F57B0927DA9D97791C02791A273" xlink:to="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnAccumulatedPostretirementBenefitObligation_A0D53F57B0927DA9D97791C02791A273" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnAccumulatedPostretirementBenefitObligation1_1C092B47FBD3B2BCC3D591C02791936C_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnAccumulatedPostretirementBenefitObligation1_1C092B47FBD3B2BCC3D591C02791936C" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Effect of 1% decrease on the accumulated other postretirement benefit obligation </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnAccumulatedPostretirementBenefitObligation1_1C092B47FBD3B2BCC3D591C02791936C_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnAccumulatedPostretirementBenefitObligation1_1C092B47FBD3B2BCC3D591C02791936C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnAccumulatedPostretirementBenefitObligation1" xlink:label="loc_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnAccumulatedPostretirementBenefitObligation1_1C092B47FBD3B2BCC3D591C02791936C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnAccumulatedPostretirementBenefitObligation1_1C092B47FBD3B2BCC3D591C02791936C" xlink:to="lab_us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnAccumulatedPostretirementBenefitObligation1_1C092B47FBD3B2BCC3D591C02791936C" xlink:type="arc"/>

<link:label id="lab_pnw_UnrecordedUnconditionalEstimatedPurchaseObligationsDisclosureTextBlock_305505E586B11C485DC291C027A0B10D_terseLabel_en-US" xlink:label="lab_pnw_UnrecordedUnconditionalEstimatedPurchaseObligationsDisclosureTextBlock_305505E586B11C485DC291C027A0B10D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Summary of estimated coal take-or-pay commitments </link:label>

<link:label id="lab_pnw_UnrecordedUnconditionalEstimatedPurchaseObligationsDisclosureTextBlock_305505E586B11C485DC291C027A0B10D_label_en-US" xlink:label="lab_pnw_UnrecordedUnconditionalEstimatedPurchaseObligationsDisclosureTextBlock_305505E586B11C485DC291C027A0B10D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecorded Unconditional Estimated Purchase, Obligations Disclosure [Text Block] </link:label>

<link:label id="lab_pnw_UnrecordedUnconditionalEstimatedPurchaseObligationsDisclosureTextBlock_305505E586B11C485DC291C027A0B10D_documentation_en-US" xlink:label="lab_pnw_UnrecordedUnconditionalEstimatedPurchaseObligationsDisclosureTextBlock_305505E586B11C485DC291C027A0B10D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Tabular disclosure of expected unconditional purchase obligations that are not recognized as a liability on the balance sheet, including the nature and significant terms of an unconditional purchase obligation; the amount of the fixed and determinable portion of the obligation as of the date of the latest balance sheet presented in the aggregate and, if determinable, for each of the five succeeding fiscal years; the nature of any variable components of the obligation; the amount purchased under the obligation (for example, the take-or-pay or throughput contract) for the reporting period; and may include the amount of imputed interest necessary to reduce the obligation to present value. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_UnrecordedUnconditionalEstimatedPurchaseObligationsDisclosureTextBlock" xlink:label="loc_pnw_UnrecordedUnconditionalEstimatedPurchaseObligationsDisclosureTextBlock_305505E586B11C485DC291C027A0B10D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_UnrecordedUnconditionalEstimatedPurchaseObligationsDisclosureTextBlock_305505E586B11C485DC291C027A0B10D" xlink:to="lab_pnw_UnrecordedUnconditionalEstimatedPurchaseObligationsDisclosureTextBlock_305505E586B11C485DC291C027A0B10D" xlink:type="arc"/>

<link:label id="lab_pnw_UnrecordedUnconditionalActualPurchaseObligationsDisclosureTextBlock_450AB13C558AB468965C91C027A0BF61_terseLabel_en-US" xlink:label="lab_pnw_UnrecordedUnconditionalActualPurchaseObligationsDisclosureTextBlock_450AB13C558AB468965C91C027A0BF61" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Summary of actual take-or-pay commitments </link:label>

<link:label id="lab_pnw_UnrecordedUnconditionalActualPurchaseObligationsDisclosureTextBlock_450AB13C558AB468965C91C027A0BF61_label_en-US" xlink:label="lab_pnw_UnrecordedUnconditionalActualPurchaseObligationsDisclosureTextBlock_450AB13C558AB468965C91C027A0BF61" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecorded Unconditional Actual Purchase, Obligations Disclosure [Text Block] </link:label>

<link:label id="lab_pnw_UnrecordedUnconditionalActualPurchaseObligationsDisclosureTextBlock_450AB13C558AB468965C91C027A0BF61_documentation_en-US" xlink:label="lab_pnw_UnrecordedUnconditionalActualPurchaseObligationsDisclosureTextBlock_450AB13C558AB468965C91C027A0BF61" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Tabular disclosure of actual unconditional purchase obligations that are not recognized as a liability on the balance sheet, including the nature and significant terms of an unconditional purchase obligation; the amount of the fixed and determinable portion of the obligation as of the date of the latest balance sheet presented in the aggregate and, if determinable, for each of the five succeeding fiscal years; the nature of any variable component of the obligation; the amount purchased under the obligation (for example, the take-or-pay or throughput contract) for the reporting period; and may include the amount of imputed interest necessary to reduce the obligation to present value. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_UnrecordedUnconditionalActualPurchaseObligationsDisclosureTextBlock" xlink:label="loc_pnw_UnrecordedUnconditionalActualPurchaseObligationsDisclosureTextBlock_450AB13C558AB468965C91C027A0BF61" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_UnrecordedUnconditionalActualPurchaseObligationsDisclosureTextBlock_450AB13C558AB468965C91C027A0BF61" xlink:to="lab_pnw_UnrecordedUnconditionalActualPurchaseObligationsDisclosureTextBlock_450AB13C558AB468965C91C027A0BF61" xlink:type="arc"/>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAbstract_C5F1CD0DD38237CF8BF2CCE8D587FC54_terseLabel_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAbstract_C5F1CD0DD38237CF8BF2CCE8D587FC54" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Stocks granted and the weighted average fair value </link:label>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAbstract_C5F1CD0DD38237CF8BF2CCE8D587FC54_label_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAbstract_C5F1CD0DD38237CF8BF2CCE8D587FC54" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share Based Compensation Arrangement by Share Based Payment Award Equity Instruments Other than Options [Abstract] </link:label>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAbstract_C5F1CD0DD38237CF8BF2CCE8D587FC54_documentation_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAbstract_C5F1CD0DD38237CF8BF2CCE8D587FC54" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAbstract" xlink:label="loc_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAbstract_C5F1CD0DD38237CF8BF2CCE8D587FC54" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAbstract_C5F1CD0DD38237CF8BF2CCE8D587FC54" xlink:to="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAbstract_C5F1CD0DD38237CF8BF2CCE8D587FC54" xlink:type="arc"/>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsUnitGrantsInPeriod_AECFA944BDCDA216227FCCE8D58792C1_terseLabel_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsUnitGrantsInPeriod_AECFA944BDCDA216227FCCE8D58792C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Units granted (in shares) </link:label>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsUnitGrantsInPeriod_AECFA944BDCDA216227FCCE8D58792C1_label_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsUnitGrantsInPeriod_AECFA944BDCDA216227FCCE8D58792C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share Based Compensation Arrangement by Share Based Payment Award Equity Instruments Other than Options Unit Grants in Period </link:label>

<link:label id="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsUnitGrantsInPeriod_AECFA944BDCDA216227FCCE8D58792C1_documentation_en-US" xlink:label="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsUnitGrantsInPeriod_AECFA944BDCDA216227FCCE8D58792C1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The number of units granted during the period on other than stock (or unit) option plans. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsUnitGrantsInPeriod" xlink:label="loc_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsUnitGrantsInPeriod_AECFA944BDCDA216227FCCE8D58792C1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsUnitGrantsInPeriod_AECFA944BDCDA216227FCCE8D58792C1" xlink:to="lab_pnw_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsUnitGrantsInPeriod_AECFA944BDCDA216227FCCE8D58792C1" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_16A78E7AE211B22B0740CCE8D5872778_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_16A78E7AE211B22B0740CCE8D5872778" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Grant date fair value (in dollars per share) </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_16A78E7AE211B22B0740CCE8D5872778_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_16A78E7AE211B22B0740CCE8D5872778" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_16A78E7AE211B22B0740CCE8D5872778" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_16A78E7AE211B22B0740CCE8D5872778" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_16A78E7AE211B22B0740CCE8D5872778" xlink:type="arc"/>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofGrantedUnitstobeSettledinCash_BAE039743485761171E1CCE8D5879AF6_terseLabel_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofGrantedUnitstobeSettledinCash_BAE039743485761171E1CCE8D5879AF6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of granted awards to be settled in cash (in shares) </link:label>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofGrantedUnitstobeSettledinCash_BAE039743485761171E1CCE8D5879AF6_label_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofGrantedUnitstobeSettledinCash_BAE039743485761171E1CCE8D5879AF6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Number of Granted Units to be Settled in Cash </link:label>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofGrantedUnitstobeSettledinCash_BAE039743485761171E1CCE8D5879AF6_documentation_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofGrantedUnitstobeSettledinCash_BAE039743485761171E1CCE8D5879AF6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Number of Awards to be Settled in Cash </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofGrantedUnitstobeSettledinCash" xlink:label="loc_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofGrantedUnitstobeSettledinCash_BAE039743485761171E1CCE8D5879AF6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofGrantedUnitstobeSettledinCash_BAE039743485761171E1CCE8D5879AF6" xlink:to="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofGrantedUnitstobeSettledinCash_BAE039743485761171E1CCE8D5879AF6" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract_F9BA2AB9180A6AB47BA0C6716184B565_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract_F9BA2AB9180A6AB47BA0C6716184B565" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net periodic benefit costs and the portion of these costs charged to expense </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract_F9BA2AB9180A6AB47BA0C6716184B565_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract_F9BA2AB9180A6AB47BA0C6716184B565" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract" xlink:label="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract_F9BA2AB9180A6AB47BA0C6716184B565" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract_F9BA2AB9180A6AB47BA0C6716184B565" xlink:to="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCostAbstract_F9BA2AB9180A6AB47BA0C6716184B565" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanServiceCost_0ACF505AAAFC0C635ACAC67161843CFB_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanServiceCost_0ACF505AAAFC0C635ACAC67161843CFB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Service cost - benefits earned during the period </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanServiceCost_0ACF505AAAFC0C635ACAC67161843CFB_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanServiceCost_0ACF505AAAFC0C635ACAC67161843CFB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Service Cost </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanServiceCost" xlink:label="loc_us-gaap_DefinedBenefitPlanServiceCost_0ACF505AAAFC0C635ACAC67161843CFB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanServiceCost_0ACF505AAAFC0C635ACAC67161843CFB" xlink:to="lab_us-gaap_DefinedBenefitPlanServiceCost_0ACF505AAAFC0C635ACAC67161843CFB" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanInterestCost_A7EB3DCB9560ED418AACC67161845F92_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanInterestCost_A7EB3DCB9560ED418AACC67161845F92" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest cost on benefit obligation </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanInterestCost_A7EB3DCB9560ED418AACC67161845F92_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanInterestCost_A7EB3DCB9560ED418AACC67161845F92" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Interest Cost </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanInterestCost" xlink:label="loc_us-gaap_DefinedBenefitPlanInterestCost_A7EB3DCB9560ED418AACC67161845F92" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanInterestCost_A7EB3DCB9560ED418AACC67161845F92" xlink:to="lab_us-gaap_DefinedBenefitPlanInterestCost_A7EB3DCB9560ED418AACC67161845F92" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_877CE36C7D7FAFFB0981C67161841929_negatedLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_877CE36C7D7FAFFB0981C67161841929" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Expected return on plan assets </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_877CE36C7D7FAFFB0981C67161841929_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_877CE36C7D7FAFFB0981C67161841929" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Expected Return on Plan Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_877CE36C7D7FAFFB0981C67161841929" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_877CE36C7D7FAFFB0981C67161841929" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_877CE36C7D7FAFFB0981C67161841929" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_7AA69835C31DF606E22DC6716184FE63_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_7AA69835C31DF606E22DC6716184FE63" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amortization of prior service cost (credit) </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_7AA69835C31DF606E22DC6716184FE63_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_7AA69835C31DF606E22DC6716184FE63" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Amortization of Prior Service Cost (Credit) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit" xlink:label="loc_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_7AA69835C31DF606E22DC6716184FE63" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_7AA69835C31DF606E22DC6716184FE63" xlink:to="lab_us-gaap_DefinedBenefitPlanAmortizationOfPriorServiceCostCredit_7AA69835C31DF606E22DC6716184FE63" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_1BD2CEEB7655BFD3C140C6716184C103_negatedLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_1BD2CEEB7655BFD3C140C6716184C103" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Amortization of net actuarial loss </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_1BD2CEEB7655BFD3C140C6716184C103_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_1BD2CEEB7655BFD3C140C6716184C103" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Amortization of Gains (Losses) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses" xlink:label="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_1BD2CEEB7655BFD3C140C6716184C103" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_1BD2CEEB7655BFD3C140C6716184C103" xlink:to="lab_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses_1BD2CEEB7655BFD3C140C6716184C103" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_CECF8602D818917B67BAC67161845593_totalLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_CECF8602D818917B67BAC67161845593" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net periodic benefit cost </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_CECF8602D818917B67BAC67161845593_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_CECF8602D818917B67BAC67161845593" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Net Periodic Benefit Cost </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:label="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_CECF8602D818917B67BAC67161845593" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_CECF8602D818917B67BAC67161845593" xlink:to="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_CECF8602D818917B67BAC67161845593" xlink:type="arc"/>

<link:label id="lab_us-gaap_PensionAndOtherPostretirementBenefitExpense_45AFF6154AF4851A89B0C67161846C0B_terseLabel_en-US" xlink:label="lab_us-gaap_PensionAndOtherPostretirementBenefitExpense_45AFF6154AF4851A89B0C67161846C0B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Portion of cost charged to expense </link:label>

<link:label id="lab_us-gaap_PensionAndOtherPostretirementBenefitExpense_45AFF6154AF4851A89B0C67161846C0B_label_en-US" xlink:label="lab_us-gaap_PensionAndOtherPostretirementBenefitExpense_45AFF6154AF4851A89B0C67161846C0B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pension and Other Postretirement Benefit Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PensionAndOtherPostretirementBenefitExpense" xlink:label="loc_us-gaap_PensionAndOtherPostretirementBenefitExpense_45AFF6154AF4851A89B0C67161846C0B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PensionAndOtherPostretirementBenefitExpense_45AFF6154AF4851A89B0C67161846C0B" xlink:to="lab_us-gaap_PensionAndOtherPostretirementBenefitExpense_45AFF6154AF4851A89B0C67161846C0B" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract_F89EFCB85987BA9FA30291C026F66E52_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract_F89EFCB85987BA9FA30291C026F66E52" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Details related to accumulated other comprehensive loss </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract_F89EFCB85987BA9FA30291C026F66E52_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract_F89EFCB85987BA9FA30291C026F66E52" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract" xlink:label="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract_F89EFCB85987BA9FA30291C026F66E52" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract_F89EFCB85987BA9FA30291C026F66E52" xlink:to="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract_F89EFCB85987BA9FA30291C026F66E52" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax_783E40FD691DFA2D919491C026F64E8B_negatedLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax_783E40FD691DFA2D919491C026F64E8B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Net actuarial loss </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax_783E40FD691DFA2D919491C026F64E8B_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax_783E40FD691DFA2D919491C026F64E8B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax" xlink:label="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax_783E40FD691DFA2D919491C026F64E8B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax_783E40FD691DFA2D919491C026F64E8B" xlink:to="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax_783E40FD691DFA2D919491C026F64E8B" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax_A4D09894E5E6D092A23D91C026F6BBC0_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax_A4D09894E5E6D092A23D91C026F6BBC0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Prior service cost (credit) </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax_A4D09894E5E6D092A23D91C026F6BBC0_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax_A4D09894E5E6D092A23D91C026F6BBC0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax" xlink:label="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax_A4D09894E5E6D092A23D91C026F6BBC0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax_A4D09894E5E6D092A23D91C026F6BBC0" xlink:to="lab_us-gaap_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax_A4D09894E5E6D092A23D91C026F6BBC0" xlink:type="arc"/>

<link:label id="lab_pnw_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeRegulatoryAsset_A2F16837A0DB0D6F443491C026F6A5E8_negatedLabel_en-US" xlink:label="lab_pnw_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeRegulatoryAsset_A2F16837A0DB0D6F443491C026F6A5E8" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> APS's portion recorded as a regulatory asset </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeRegulatoryAsset_A2F16837A0DB0D6F443491C026F6A5E8_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeRegulatoryAsset_A2F16837A0DB0D6F443491C026F6A5E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Accumulated Other Comprehensive Income, Regulatory Asset </link:label>

<link:label id="lab_pnw_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeRegulatoryAsset_A2F16837A0DB0D6F443491C026F6A5E8_documentation_en-US" xlink:label="lab_pnw_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeRegulatoryAsset_A2F16837A0DB0D6F443491C026F6A5E8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount related to the pretax cost of benefit changes, a portion of which has been recorded as a regulatory asset, which has not yet been recognized as components of net periodic benefit cost. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeRegulatoryAsset" xlink:label="loc_pnw_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeRegulatoryAsset_A2F16837A0DB0D6F443491C026F6A5E8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeRegulatoryAsset_A2F16837A0DB0D6F443491C026F6A5E8" xlink:to="lab_pnw_DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeRegulatoryAsset_A2F16837A0DB0D6F443491C026F6A5E8" xlink:type="arc"/>

<link:label id="lab_pnw_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTax_9A404C462B5AC11D81DE91C026F77823_terseLabel_en-US" xlink:label="lab_pnw_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTax_9A404C462B5AC11D81DE91C026F77823" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income tax benefit </link:label>

<link:label id="lab_pnw_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTax_9A404C462B5AC11D81DE91C026F77823_label_en-US" xlink:label="lab_pnw_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTax_9A404C462B5AC11D81DE91C026F77823" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss), Defined Benefit Pension and Other Postretirement Plans Tax </link:label>

<link:label id="lab_pnw_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTax_9A404C462B5AC11D81DE91C026F77823_documentation_en-US" xlink:label="lab_pnw_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTax_9A404C462B5AC11D81DE91C026F77823" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the tax component of accumulated other comprehensive income (loss) of defined benefit pension and other postretirement plans. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTax" xlink:label="loc_pnw_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTax_9A404C462B5AC11D81DE91C026F77823" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTax_9A404C462B5AC11D81DE91C026F77823" xlink:to="lab_pnw_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTax_9A404C462B5AC11D81DE91C026F77823" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_0D6786FBE3E78BF609CE91C026F71149_totalLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_0D6786FBE3E78BF609CE91C026F71149" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Accumulated other comprehensive loss </link:label>

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<link:label id="lab_us-gaap_DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYearAbstract_CF7943BF4E243BB1C59A91C026F71ADC_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYearAbstract_CF7943BF4E243BB1C59A91C026F71ADC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Estimated amounts that will be amortized from accumulated other comprehensive loss and regulatory assets into net periodic benefit cost in 2014 </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYearAbstract_CF7943BF4E243BB1C59A91C026F71ADC_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYearAbstract_CF7943BF4E243BB1C59A91C026F71ADC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Amount to be Amortized from Accumulated Other Comprehensive Income (Loss) Next Fiscal Year [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYearAbstract" xlink:label="loc_us-gaap_DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYearAbstract_CF7943BF4E243BB1C59A91C026F71ADC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYearAbstract_CF7943BF4E243BB1C59A91C026F71ADC" xlink:to="lab_us-gaap_DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYearAbstract_CF7943BF4E243BB1C59A91C026F71ADC" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanFutureAmortizationOfGainLoss_8AF73EB22BFAABB9F08991C026F78C6A_negatedLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFutureAmortizationOfGainLoss_8AF73EB22BFAABB9F08991C026F78C6A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Net actuarial loss </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanFutureAmortizationOfGainLoss_8AF73EB22BFAABB9F08991C026F78C6A_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFutureAmortizationOfGainLoss_8AF73EB22BFAABB9F08991C026F78C6A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Future Amortization of Gain (Loss) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanFutureAmortizationOfGainLoss" xlink:label="loc_us-gaap_DefinedBenefitPlanFutureAmortizationOfGainLoss_8AF73EB22BFAABB9F08991C026F78C6A" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlanFutureAmortizationOfPriorServiceCostCredit_4D31DFFB726621CC10C491C026F7F2D5_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFutureAmortizationOfPriorServiceCostCredit_4D31DFFB726621CC10C491C026F7F2D5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Prior service cost (credit) </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanFutureAmortizationOfPriorServiceCostCredit_4D31DFFB726621CC10C491C026F7F2D5_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFutureAmortizationOfPriorServiceCostCredit_4D31DFFB726621CC10C491C026F7F2D5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Future Amortization of Prior Service Cost (Credit) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanFutureAmortizationOfPriorServiceCostCredit" xlink:label="loc_us-gaap_DefinedBenefitPlanFutureAmortizationOfPriorServiceCostCredit_4D31DFFB726621CC10C491C026F7F2D5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanFutureAmortizationOfPriorServiceCostCredit_4D31DFFB726621CC10C491C026F7F2D5" xlink:to="lab_us-gaap_DefinedBenefitPlanFutureAmortizationOfPriorServiceCostCredit_4D31DFFB726621CC10C491C026F7F2D5" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanAmountToBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossNextFiscalYear_076CEB9BF1729C580D7D91C026F75D30_totalLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmountToBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossNextFiscalYear_076CEB9BF1729C580D7D91C026F75D30" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total amounts estimated to be amortized from accumulated other comprehensive loss and regulatory assets in 2014 </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanAmountToBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossNextFiscalYear_076CEB9BF1729C580D7D91C026F75D30_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanAmountToBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossNextFiscalYear_076CEB9BF1729C580D7D91C026F75D30" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Amount to be Amortized from Accumulated Other Comprehensive Income (Loss) Next Fiscal Year </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanAmountToBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossNextFiscalYear" xlink:label="loc_us-gaap_DefinedBenefitPlanAmountToBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossNextFiscalYear_076CEB9BF1729C580D7D91C026F75D30" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAmountToBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossNextFiscalYear_076CEB9BF1729C580D7D91C026F75D30" xlink:to="lab_us-gaap_DefinedBenefitPlanAmountToBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossNextFiscalYear_076CEB9BF1729C580D7D91C026F75D30" xlink:type="arc"/>

<link:label id="lab_pnw_ScheduleOfDeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityTableTextBlock_BED78B2F603B3035640B91C027C48FA5_terseLabel_en-US" xlink:label="lab_pnw_ScheduleOfDeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityTableTextBlock_BED78B2F603B3035640B91C027C48FA5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of changes in the deferred fuel and purchased power regulatory asset </link:label>

<link:label id="lab_pnw_ScheduleOfDeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityTableTextBlock_BED78B2F603B3035640B91C027C48FA5_label_en-US" xlink:label="lab_pnw_ScheduleOfDeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityTableTextBlock_BED78B2F603B3035640B91C027C48FA5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Deferred Fuel and Purchased Power Regulatory Asset (Liability) [Table Text Block] </link:label>

<link:label id="lab_pnw_ScheduleOfDeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityTableTextBlock_BED78B2F603B3035640B91C027C48FA5_documentation_en-US" xlink:label="lab_pnw_ScheduleOfDeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityTableTextBlock_BED78B2F603B3035640B91C027C48FA5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Tabular disclosure of the changes in the deferred fuel and purchased power regulatory asset (liability) of regulated entities. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ScheduleOfDeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityTableTextBlock" xlink:label="loc_pnw_ScheduleOfDeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityTableTextBlock_BED78B2F603B3035640B91C027C48FA5" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfRegulatoryAssetsTextBlock_70FBB1831DB2E188E51191C027C433A2_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRegulatoryAssetsTextBlock_70FBB1831DB2E188E51191C027C433A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of regulatory assets </link:label>

<link:label id="lab_us-gaap_ScheduleOfRegulatoryAssetsTextBlock_70FBB1831DB2E188E51191C027C433A2_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRegulatoryAssetsTextBlock_70FBB1831DB2E188E51191C027C433A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Regulatory Assets [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRegulatoryAssetsTextBlock" xlink:label="loc_us-gaap_ScheduleOfRegulatoryAssetsTextBlock_70FBB1831DB2E188E51191C027C433A2" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfRegulatoryLiabilitiesTextBlock_1F3ADBF142ED9013D75C91C027C45368_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRegulatoryLiabilitiesTextBlock_1F3ADBF142ED9013D75C91C027C45368" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of regulatory liabilities </link:label>

<link:label id="lab_us-gaap_ScheduleOfRegulatoryLiabilitiesTextBlock_1F3ADBF142ED9013D75C91C027C45368_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRegulatoryLiabilitiesTextBlock_1F3ADBF142ED9013D75C91C027C45368" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Regulatory Liabilities [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRegulatoryLiabilitiesTextBlock" xlink:label="loc_us-gaap_ScheduleOfRegulatoryLiabilitiesTextBlock_1F3ADBF142ED9013D75C91C027C45368" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_4F73B0BD5B5C5AD630DB8E516A87141F_label_en-US" xlink:label="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_4F73B0BD5B5C5AD630DB8E516A87141F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement of Comprehensive Income [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:label="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_4F73B0BD5B5C5AD630DB8E516A87141F" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ProfitLoss_F09DB61BBCC55BF43D1B8E516A879838_verboseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss_F09DB61BBCC55BF43D1B8E516A879838" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> NET INCOME </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_F09DB61BBCC55BF43D1B8E516A879838" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_59E79F3FFF3467E3448C8E516A872350_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_59E79F3FFF3467E3448C8E516A872350" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX </link:label>

<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_59E79F3FFF3467E3448C8E516A872350_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_59E79F3FFF3467E3448C8E516A872350" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Comprehensive Income (Loss), Net of Tax [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_59E79F3FFF3467E3448C8E516A872350" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgesAbstract_141FD87D61299625E0678E516A87903C_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgesAbstract_141FD87D61299625E0678E516A87903C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative instruments: </link:label>

<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgesAbstract_141FD87D61299625E0678E516A87903C_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgesAbstract_141FD87D61299625E0678E516A87903C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Instruments and Hedges, Assets [Abstract] </link:label>

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<link:label id="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_DC018DF63F96B349D10D8E516A87362F_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_DC018DF63F96B349D10D8E516A87362F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Net unrealized loss, net of tax benefit (expense) </link:label>

<link:label id="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_DC018DF63F96B349D10D8E516A87362F_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_DC018DF63F96B349D10D8E516A87362F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_DC018DF63F96B349D10D8E516A87362F" xlink:type="locator"/>

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<link:label id="lab_us-gaap_EligibleItemOrGroupForFairValueOptionAxis_102E4C730F81CA1F7DA9C6F781A9DDBC_terseLabel_en-US" xlink:label="lab_us-gaap_EligibleItemOrGroupForFairValueOptionAxis_102E4C730F81CA1F7DA9C6F781A9DDBC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Eligible Item or Group for Fair Value Option [Axis] </link:label>

<link:label id="lab_us-gaap_EligibleItemOrGroupForFairValueOptionAxis_102E4C730F81CA1F7DA9C6F781A9DDBC_label_en-US" xlink:label="lab_us-gaap_EligibleItemOrGroupForFairValueOptionAxis_102E4C730F81CA1F7DA9C6F781A9DDBC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Eligible Item or Group for Fair Value Option [Axis] </link:label>

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<link:label id="lab_pnw_USCommingledFundsMember_07986567A97CDAB6E438C6F781A9915D_terseLabel_en-US" xlink:label="lab_pnw_USCommingledFundsMember_07986567A97CDAB6E438C6F781A9915D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> US commingled equity funds </link:label>

<link:label id="lab_pnw_USCommingledFundsMember_07986567A97CDAB6E438C6F781A9915D_label_en-US" xlink:label="lab_pnw_USCommingledFundsMember_07986567A97CDAB6E438C6F781A9915D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> U.S. Commingled Funds [Member] </link:label>

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<link:label id="lab_us-gaap_MortgageBackedSecuritiesMember_789B28455DFE8F0B1C46C6F781A97A51_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageBackedSecuritiesMember_789B28455DFE8F0B1C46C6F781A97A51" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Mortgage-backed securities </link:label>

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<link:label id="lab_us-gaap_USStatesAndPoliticalSubdivisionsMember_7E673914161C722557CDC6F781A97895_terseLabel_en-US" xlink:label="lab_us-gaap_USStatesAndPoliticalSubdivisionsMember_7E673914161C722557CDC6F781A97895" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Municipality bonds </link:label>

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<link:label id="lab_us-gaap_AssetsFairValueDisclosureAbstract_8DD4CCC01C7DE553740FC6F781A9F5D0_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureAbstract_8DD4CCC01C7DE553740FC6F781A9F5D0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Assets </link:label>

<link:label id="lab_us-gaap_AssetsFairValueDisclosureAbstract_8DD4CCC01C7DE553740FC6F781A9F5D0_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureAbstract_8DD4CCC01C7DE553740FC6F781A9F5D0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets, Fair Value Disclosure [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsFairValueDisclosureAbstract" xlink:label="loc_us-gaap_AssetsFairValueDisclosureAbstract_8DD4CCC01C7DE553740FC6F781A9F5D0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosureAbstract_8DD4CCC01C7DE553740FC6F781A9F5D0" xlink:to="lab_us-gaap_AssetsFairValueDisclosureAbstract_8DD4CCC01C7DE553740FC6F781A9F5D0" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_17E1A717799DB57F4BCBC6F781A9BE24_verboseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_17E1A717799DB57F4BCBC6F781A9BE24" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Gross derivative assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeAsset" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeAsset_17E1A717799DB57F4BCBC6F781A9BE24" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeAsset_17E1A717799DB57F4BCBC6F781A9BE24" xlink:to="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_17E1A717799DB57F4BCBC6F781A9BE24" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeAssetFairValueGrossLiability_58130DED547E0889FA0EC6F781A973F2_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossLiability_58130DED547E0889FA0EC6F781A973F2" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_DerivativeAssetFairValueGrossLiability_58130DED547E0889FA0EC6F781A973F2_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossLiability_58130DED547E0889FA0EC6F781A973F2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset, Fair Value, Gross Liability </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeAssetFairValueGrossLiability" xlink:label="loc_us-gaap_DerivativeAssetFairValueGrossLiability_58130DED547E0889FA0EC6F781A973F2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetFairValueGrossLiability_58130DED547E0889FA0EC6F781A973F2" xlink:to="lab_us-gaap_DerivativeAssetFairValueGrossLiability_58130DED547E0889FA0EC6F781A973F2" xlink:type="arc"/>

<link:label id="lab_pnw_DecommissioningFundInvestmentsGrossFairValue_EE4007B05B688EAA7052C6F781A90DEF_terseLabel_en-US" xlink:label="lab_pnw_DecommissioningFundInvestmentsGrossFairValue_EE4007B05B688EAA7052C6F781A90DEF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Decommissioning fund investments, gross fair value </link:label>

<link:label id="lab_pnw_DecommissioningFundInvestmentsGrossFairValue_EE4007B05B688EAA7052C6F781A90DEF_label_en-US" xlink:label="lab_pnw_DecommissioningFundInvestmentsGrossFairValue_EE4007B05B688EAA7052C6F781A90DEF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Decommissioning Fund Investments, Gross Fair Value </link:label>

<link:label id="lab_pnw_DecommissioningFundInvestmentsGrossFairValue_EE4007B05B688EAA7052C6F781A90DEF_documentation_en-US" xlink:label="lab_pnw_DecommissioningFundInvestmentsGrossFairValue_EE4007B05B688EAA7052C6F781A90DEF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Decommissioning Fund Investments, Gross Fair Value </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DecommissioningFundInvestmentsGrossFairValue" xlink:label="loc_pnw_DecommissioningFundInvestmentsGrossFairValue_EE4007B05B688EAA7052C6F781A90DEF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DecommissioningFundInvestmentsGrossFairValue_EE4007B05B688EAA7052C6F781A90DEF" xlink:to="lab_pnw_DecommissioningFundInvestmentsGrossFairValue_EE4007B05B688EAA7052C6F781A90DEF" xlink:type="arc"/>

<link:label id="lab_pnw_DecommissioningFundInvestmentsFairValueNetPendingSecuritiesSalesandPurchases_ED4BCF47684E5B3A8DE4C6F781A9D430_negatedTerseLabel_en-US" xlink:label="lab_pnw_DecommissioningFundInvestmentsFairValueNetPendingSecuritiesSalesandPurchases_ED4BCF47684E5B3A8DE4C6F781A9D430" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_pnw_DecommissioningFundInvestmentsFairValueNetPendingSecuritiesSalesandPurchases_ED4BCF47684E5B3A8DE4C6F781A9D430_label_en-US" xlink:label="lab_pnw_DecommissioningFundInvestmentsFairValueNetPendingSecuritiesSalesandPurchases_ED4BCF47684E5B3A8DE4C6F781A9D430" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Decommissioning Fund Investments, Fair Value Net Pending Securities Sales and Purchases </link:label>

<link:label id="lab_pnw_DecommissioningFundInvestmentsFairValueNetPendingSecuritiesSalesandPurchases_ED4BCF47684E5B3A8DE4C6F781A9D430_documentation_en-US" xlink:label="lab_pnw_DecommissioningFundInvestmentsFairValueNetPendingSecuritiesSalesandPurchases_ED4BCF47684E5B3A8DE4C6F781A9D430" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Decommissioning Fund Investments, Fair Value Net Pending Securities Sales and Purchases </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DecommissioningFundInvestmentsFairValueNetPendingSecuritiesSalesandPurchases" xlink:label="loc_pnw_DecommissioningFundInvestmentsFairValueNetPendingSecuritiesSalesandPurchases_ED4BCF47684E5B3A8DE4C6F781A9D430" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DecommissioningTrustAssetsAmount_FC28E91C4537AC8F7301C6F781A998DD_positiveTerseLabel_en-US" xlink:label="lab_us-gaap_DecommissioningTrustAssetsAmount_FC28E91C4537AC8F7301C6F781A998DD" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:type="resource" xml:lang="en-US"> Nuclear decommissioning trust </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DecommissioningTrustAssetsAmount" xlink:label="loc_us-gaap_DecommissioningTrustAssetsAmount_FC28E91C4537AC8F7301C6F781A998DD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DecommissioningTrustAssetsAmount_FC28E91C4537AC8F7301C6F781A998DD" xlink:to="lab_us-gaap_DecommissioningTrustAssetsAmount_FC28E91C4537AC8F7301C6F781A998DD" xlink:type="arc"/>

<link:label id="lab_pnw_GrossAssetsFairValueDisclosure_27C84E0CBE92706EA86DC6F781A96AB1_terseLabel_en-US" xlink:label="lab_pnw_GrossAssetsFairValueDisclosure_27C84E0CBE92706EA86DC6F781A96AB1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Gross assets, fair value disclosure </link:label>

<link:label id="lab_pnw_GrossAssetsFairValueDisclosure_27C84E0CBE92706EA86DC6F781A96AB1_label_en-US" xlink:label="lab_pnw_GrossAssetsFairValueDisclosure_27C84E0CBE92706EA86DC6F781A96AB1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Gross Assets, Fair Value Disclosure </link:label>

<link:label id="lab_pnw_GrossAssetsFairValueDisclosure_27C84E0CBE92706EA86DC6F781A96AB1_documentation_en-US" xlink:label="lab_pnw_GrossAssetsFairValueDisclosure_27C84E0CBE92706EA86DC6F781A96AB1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Gross Assets, Fair Value Disclosure </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_GrossAssetsFairValueDisclosure" xlink:label="loc_pnw_GrossAssetsFairValueDisclosure_27C84E0CBE92706EA86DC6F781A96AB1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_GrossAssetsFairValueDisclosure_27C84E0CBE92706EA86DC6F781A96AB1" xlink:to="lab_pnw_GrossAssetsFairValueDisclosure_27C84E0CBE92706EA86DC6F781A96AB1" xlink:type="arc"/>

<link:label id="lab_pnw_DerivativeAssetFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases_D3C73D4996E2E64BDFA0C6F781A92F23_negatedLabel_en-US" xlink:label="lab_pnw_DerivativeAssetFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases_D3C73D4996E2E64BDFA0C6F781A92F23" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_pnw_DerivativeAssetFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases_D3C73D4996E2E64BDFA0C6F781A92F23_label_en-US" xlink:label="lab_pnw_DerivativeAssetFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases_D3C73D4996E2E64BDFA0C6F781A92F23" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset, Fair Value, Gross Liability and Net Pending Securities Sales and Purchases </link:label>

<link:label id="lab_pnw_DerivativeAssetFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases_D3C73D4996E2E64BDFA0C6F781A92F23_documentation_en-US" xlink:label="lab_pnw_DerivativeAssetFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases_D3C73D4996E2E64BDFA0C6F781A92F23" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Derivative Asset, Fair Value, Gross Liability and Net Pending Securities Sales and Purchases </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DerivativeAssetFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases" xlink:label="loc_pnw_DerivativeAssetFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases_D3C73D4996E2E64BDFA0C6F781A92F23" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DerivativeAssetFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases_D3C73D4996E2E64BDFA0C6F781A92F23" xlink:to="lab_pnw_DerivativeAssetFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases_D3C73D4996E2E64BDFA0C6F781A92F23" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetsFairValueDisclosure_5C2077BAFBE1C2E3478AC6F781A9D1B1_totalLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure_5C2077BAFBE1C2E3478AC6F781A9D1B1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="loc_us-gaap_AssetsFairValueDisclosure_5C2077BAFBE1C2E3478AC6F781A9D1B1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_5C2077BAFBE1C2E3478AC6F781A9D1B1" xlink:to="lab_us-gaap_AssetsFairValueDisclosure_5C2077BAFBE1C2E3478AC6F781A9D1B1" xlink:type="arc"/>

<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_02CBA1AEED6A92E6B988C6F781AA570D_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_02CBA1AEED6A92E6B988C6F781AA570D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities </link:label>

<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_02CBA1AEED6A92E6B988C6F781AA570D_label_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_02CBA1AEED6A92E6B988C6F781AA570D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liabilities, Fair Value Disclosure [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract_02CBA1AEED6A92E6B988C6F781AA570D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract_02CBA1AEED6A92E6B988C6F781AA570D" xlink:to="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_02CBA1AEED6A92E6B988C6F781AA570D" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_302A97B05FE918BE4D63C6F781AAF8DD_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_302A97B05FE918BE4D63C6F781AAF8DD" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Gross derivative liability </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeLiability" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeLiability_302A97B05FE918BE4D63C6F781AAF8DD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeLiability_302A97B05FE918BE4D63C6F781AAF8DD" xlink:to="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_302A97B05FE918BE4D63C6F781AAF8DD" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_0926738CB7F2A0ACCB12C6F781AA0025_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_0926738CB7F2A0ACCB12C6F781AA0025" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_0926738CB7F2A0ACCB12C6F781AA0025_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_0926738CB7F2A0ACCB12C6F781AA0025" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Liability, Fair Value, Gross Asset </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeLiabilityFairValueGrossAsset" xlink:label="loc_us-gaap_DerivativeLiabilityFairValueGrossAsset_0926738CB7F2A0ACCB12C6F781AA0025" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilityFairValueGrossAsset_0926738CB7F2A0ACCB12C6F781AA0025" xlink:to="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_0926738CB7F2A0ACCB12C6F781AA0025" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeLiabilities_2DC93B26412D4DEB755BC6F781AAA665_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities_2DC93B26412D4DEB755BC6F781AAA665" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Derivative Liability </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="loc_us-gaap_DerivativeLiabilities_2DC93B26412D4DEB755BC6F781AAA665" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilities_2DC93B26412D4DEB755BC6F781AAA665" xlink:to="lab_us-gaap_DerivativeLiabilities_2DC93B26412D4DEB755BC6F781AAA665" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_F1B4E8FE8ED77EE5D40FCCE8D581A439_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_F1B4E8FE8ED77EE5D40FCCE8D581A439" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Nonvested shares </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_F1B4E8FE8ED77EE5D40FCCE8D581A439_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_F1B4E8FE8ED77EE5D40FCCE8D581A439" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_F1B4E8FE8ED77EE5D40FCCE8D581A439" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_19898F317B3A27ED2A95CCE8D581EC96_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_19898F317B3A27ED2A95CCE8D581EC96" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Balance at the beginning of the period (in shares) </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_19898F317B3A27ED2A95CCE8D581EC96_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_19898F317B3A27ED2A95CCE8D581EC96" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number </link:label>

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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_3E0D87573DCB5873583FCCE8D5824A7C_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_3E0D87573DCB5873583FCCE8D5824A7C" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Vested (in shares) </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_3E0D87573DCB5873583FCCE8D5824A7C_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_3E0D87573DCB5873583FCCE8D5824A7C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_3E0D87573DCB5873583FCCE8D5824A7C" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_8D929BEA88FDEB8B53C1CCE8D582A221_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_8D929BEA88FDEB8B53C1CCE8D582A221" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Forfeited (in shares) </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_8D929BEA88FDEB8B53C1CCE8D582A221_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_8D929BEA88FDEB8B53C1CCE8D582A221" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_8D929BEA88FDEB8B53C1CCE8D582A221" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_8D929BEA88FDEB8B53C1CCE8D582A221" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_8D929BEA88FDEB8B53C1CCE8D582A221" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_3B65BAD5663FA94BA0DECCE8D582D05A_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_3B65BAD5663FA94BA0DECCE8D582D05A" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Balance at the end of the period (in shares) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_3B65BAD5663FA94BA0DECCE8D582D05A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_3B65BAD5663FA94BA0DECCE8D582D05A" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_3B65BAD5663FA94BA0DECCE8D582D05A" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_9FAAE553932AC469B718CCE8D5822E46_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_9FAAE553932AC469B718CCE8D5822E46" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Weighted-Average Grant-Date Fair Value </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_9FAAE553932AC469B718CCE8D5822E46_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_9FAAE553932AC469B718CCE8D5822E46" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_9FAAE553932AC469B718CCE8D5822E46" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_1500452FBA4B278CCCB7CCE8D5828C10_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_1500452FBA4B278CCCB7CCE8D5828C10" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Balance at the beginning of the period (in dollars per share) </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_1500452FBA4B278CCCB7CCE8D5828C10_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_1500452FBA4B278CCCB7CCE8D5828C10" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_1500452FBA4B278CCCB7CCE8D5828C10" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AD4FC69527A9C27FFFDECCE8D58296F1_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AD4FC69527A9C27FFFDECCE8D58296F1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Granted (in dollars per share) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AD4FC69527A9C27FFFDECCE8D58296F1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AD4FC69527A9C27FFFDECCE8D58296F1" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AD4FC69527A9C27FFFDECCE8D58296F1" xlink:type="arc"/>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsChangeinPerformanceFactorWeightedAverageGrantDateFairValue_AF34C0733828C8912A5ECCE8D5829D63_terseLabel_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsChangeinPerformanceFactorWeightedAverageGrantDateFairValue_AF34C0733828C8912A5ECCE8D5829D63" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in performance factor (in dollars per share) </link:label>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsChangeinPerformanceFactorWeightedAverageGrantDateFairValue_AF34C0733828C8912A5ECCE8D5829D63_label_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsChangeinPerformanceFactorWeightedAverageGrantDateFairValue_AF34C0733828C8912A5ECCE8D5829D63" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Change in Performance Factor, Weighted Average Grant Date Fair Value </link:label>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsChangeinPerformanceFactorWeightedAverageGrantDateFairValue_AF34C0733828C8912A5ECCE8D5829D63_documentation_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsChangeinPerformanceFactorWeightedAverageGrantDateFairValue_AF34C0733828C8912A5ECCE8D5829D63" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Change in Performance Factor, Weighted Average Grant Date Fair Value </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsChangeinPerformanceFactorWeightedAverageGrantDateFairValue" xlink:label="loc_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsChangeinPerformanceFactorWeightedAverageGrantDateFairValue_AF34C0733828C8912A5ECCE8D5829D63" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_5A281A9BDFDE336CF9B4CCE8D5826396_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_5A281A9BDFDE336CF9B4CCE8D5826396" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Vested (in dollars per share) </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_5A281A9BDFDE336CF9B4CCE8D5826396_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_5A281A9BDFDE336CF9B4CCE8D5826396" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_5A281A9BDFDE336CF9B4CCE8D5826396" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_5A281A9BDFDE336CF9B4CCE8D5826396" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_5A281A9BDFDE336CF9B4CCE8D5826396" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_78BFB1317C9C7C44874ACCE8D5828446_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_78BFB1317C9C7C44874ACCE8D5828446" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Forfeited (in dollars per share) </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_78BFB1317C9C7C44874ACCE8D5828446_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_78BFB1317C9C7C44874ACCE8D5828446" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_78BFB1317C9C7C44874ACCE8D5828446" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_78BFB1317C9C7C44874ACCE8D5828446" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_78BFB1317C9C7C44874ACCE8D5828446" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_70DD124A28D8406B7EF2CCE8D58209C9_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_70DD124A28D8406B7EF2CCE8D58209C9" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Balance at the end of the period (in dollars per share) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_70DD124A28D8406B7EF2CCE8D58209C9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_70DD124A28D8406B7EF2CCE8D58209C9" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_70DD124A28D8406B7EF2CCE8D58209C9" xlink:type="arc"/>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsOutstandingVestedAwardsNumber_0669AC671BFB7845FBCBCCE8D5825EC6_terseLabel_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsOutstandingVestedAwardsNumber_0669AC671BFB7845FBCBCCE8D5825EC6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Vested Awards Outstanding at December 31, 2015 </link:label>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsOutstandingVestedAwardsNumber_0669AC671BFB7845FBCBCCE8D5825EC6_label_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsOutstandingVestedAwardsNumber_0669AC671BFB7845FBCBCCE8D5825EC6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding Vested Awards, Number </link:label>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsOutstandingVestedAwardsNumber_0669AC671BFB7845FBCBCCE8D5825EC6_documentation_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsOutstandingVestedAwardsNumber_0669AC671BFB7845FBCBCCE8D5825EC6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding Vested Awards, Number </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsOutstandingVestedAwardsNumber" xlink:label="loc_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsOutstandingVestedAwardsNumber_0669AC671BFB7845FBCBCCE8D5825EC6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsOutstandingVestedAwardsNumber_0669AC671BFB7845FBCBCCE8D5825EC6" xlink:to="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsOutstandingVestedAwardsNumber_0669AC671BFB7845FBCBCCE8D5825EC6" xlink:type="arc"/>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsVestedWeightedAverageGrantDateFairValue_F8E4AAC7944E09875951CCE8D5839BFD_terseLabel_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsVestedWeightedAverageGrantDateFairValue_F8E4AAC7944E09875951CCE8D5839BFD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Vested Awards Outstanding at December 31, 2015 (in shares) </link:label>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsVestedWeightedAverageGrantDateFairValue_F8E4AAC7944E09875951CCE8D5839BFD_label_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsVestedWeightedAverageGrantDateFairValue_F8E4AAC7944E09875951CCE8D5839BFD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested, Weighted Average Grant Date Fair Value </link:label>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsVestedWeightedAverageGrantDateFairValue_F8E4AAC7944E09875951CCE8D5839BFD_documentation_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsVestedWeightedAverageGrantDateFairValue_F8E4AAC7944E09875951CCE8D5839BFD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested, Weighted Average Grant Date Fair Value </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsVestedWeightedAverageGrantDateFairValue" xlink:label="loc_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsVestedWeightedAverageGrantDateFairValue_F8E4AAC7944E09875951CCE8D5839BFD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsVestedWeightedAverageGrantDateFairValue_F8E4AAC7944E09875951CCE8D5839BFD" xlink:to="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsVestedWeightedAverageGrantDateFairValue_F8E4AAC7944E09875951CCE8D5839BFD" xlink:type="arc"/>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofNonvestedAwardstobeSettledinCash_3A4897BB919C02E20509CCF8022B480C_terseLabel_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofNonvestedAwardstobeSettledinCash_3A4897BB919C02E20509CCF8022B480C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of nonvested awards to be settled in cash (in shares) </link:label>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofNonvestedAwardstobeSettledinCash_3A4897BB919C02E20509CCF8022B480C_label_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofNonvestedAwardstobeSettledinCash_3A4897BB919C02E20509CCF8022B480C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Number of Nonvested Awards to be Settled in Cash </link:label>

<link:label id="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofNonvestedAwardstobeSettledinCash_3A4897BB919C02E20509CCF8022B480C_documentation_en-US" xlink:label="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofNonvestedAwardstobeSettledinCash_3A4897BB919C02E20509CCF8022B480C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Number of Nonvested Awards to be Settled in Cash </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofNonvestedAwardstobeSettledinCash" xlink:label="loc_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofNonvestedAwardstobeSettledinCash_3A4897BB919C02E20509CCF8022B480C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofNonvestedAwardstobeSettledinCash_3A4897BB919C02E20509CCF8022B480C" xlink:to="lab_pnw_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsNumberofNonvestedAwardstobeSettledinCash_3A4897BB919C02E20509CCF8022B480C" xlink:type="arc"/>

<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_FE6A6CFAEBCD423233B6CCE8D5830826_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_FE6A6CFAEBCD423233B6CCE8D5830826" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of nonvested awards to be settled in shares (in shares) </link:label>

<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_FE6A6CFAEBCD423233B6CCE8D5830826_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_FE6A6CFAEBCD423233B6CCE8D5830826" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_FE6A6CFAEBCD423233B6CCE8D5830826" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_FE6A6CFAEBCD423233B6CCE8D5830826" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_FE6A6CFAEBCD423233B6CCE8D5830826" xlink:type="arc"/>

<link:label id="lab_us-gaap_SaleLeasebackTransactionAccumulatedDepreciation_10486EB5DC5C3C4FA7C191C0254A109B_terseLabel_en-US" xlink:label="lab_us-gaap_SaleLeasebackTransactionAccumulatedDepreciation_10486EB5DC5C3C4FA7C191C0254A109B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated depreciation of Palo Verde sale leaseback </link:label>

<link:label id="lab_us-gaap_SaleLeasebackTransactionAccumulatedDepreciation_10486EB5DC5C3C4FA7C191C0254A109B_label_en-US" xlink:label="lab_us-gaap_SaleLeasebackTransactionAccumulatedDepreciation_10486EB5DC5C3C4FA7C191C0254A109B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Transaction, Accumulated Depreciation </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionAccumulatedDepreciation" xlink:label="loc_us-gaap_SaleLeasebackTransactionAccumulatedDepreciation_10486EB5DC5C3C4FA7C191C0254A109B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleLeasebackTransactionAccumulatedDepreciation_10486EB5DC5C3C4FA7C191C0254A109B" xlink:to="lab_us-gaap_SaleLeasebackTransactionAccumulatedDepreciation_10486EB5DC5C3C4FA7C191C0254A109B" xlink:type="arc"/>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E514998D0CF65F348E5E91C0254A072A_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E514998D0CF65F348E5E91C0254A072A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated amortization on intangible assets </link:label>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E514998D0CF65F348E5E91C0254A072A_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E514998D0CF65F348E5E91C0254A072A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Finite-Lived Intangible Assets, Accumulated Amortization </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E514998D0CF65F348E5E91C0254A072A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E514998D0CF65F348E5E91C0254A072A" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E514998D0CF65F348E5E91C0254A072A" xlink:type="arc"/>

<link:label id="lab_pnw_AccumulatedAmortizationOnNuclearFuel_D90262D878D63D7AE25791C0254A4175_terseLabel_en-US" xlink:label="lab_pnw_AccumulatedAmortizationOnNuclearFuel_D90262D878D63D7AE25791C0254A4175" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated amortization on nuclear fuel </link:label>

<link:label id="lab_pnw_AccumulatedAmortizationOnNuclearFuel_D90262D878D63D7AE25791C0254A4175_label_en-US" xlink:label="lab_pnw_AccumulatedAmortizationOnNuclearFuel_D90262D878D63D7AE25791C0254A4175" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Amortization on Nuclear Fuel </link:label>

<link:label id="lab_pnw_AccumulatedAmortizationOnNuclearFuel_D90262D878D63D7AE25791C0254A4175_documentation_en-US" xlink:label="lab_pnw_AccumulatedAmortizationOnNuclearFuel_D90262D878D63D7AE25791C0254A4175" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the accumulated amortization on nuclear fuel. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AccumulatedAmortizationOnNuclearFuel" xlink:label="loc_pnw_AccumulatedAmortizationOnNuclearFuel_D90262D878D63D7AE25791C0254A4175" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AccumulatedAmortizationOnNuclearFuel_D90262D878D63D7AE25791C0254A4175" xlink:to="lab_pnw_AccumulatedAmortizationOnNuclearFuel_D90262D878D63D7AE25791C0254A4175" xlink:type="arc"/>

<link:label id="lab_us-gaap_CommonStockNoParValue_5844EC9225E2660C8F5191C0254A8A0D_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockNoParValue_5844EC9225E2660C8F5191C0254A8A0D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common stock, par value </link:label>

<link:label id="lab_us-gaap_CommonStockNoParValue_5844EC9225E2660C8F5191C0254A8A0D_label_en-US" xlink:label="lab_us-gaap_CommonStockNoParValue_5844EC9225E2660C8F5191C0254A8A0D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock, No Par Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockNoParValue" xlink:label="loc_us-gaap_CommonStockNoParValue_5844EC9225E2660C8F5191C0254A8A0D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockNoParValue_5844EC9225E2660C8F5191C0254A8A0D" xlink:to="lab_us-gaap_CommonStockNoParValue_5844EC9225E2660C8F5191C0254A8A0D" xlink:type="arc"/>

<link:label id="lab_us-gaap_CommonStockSharesAuthorized_D3D0E02F7BEA2720715891C0254AF77C_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized_D3D0E02F7BEA2720715891C0254AF77C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common stock, authorized shares </link:label>

<link:label id="lab_us-gaap_CommonStockSharesAuthorized_D3D0E02F7BEA2720715891C0254AF77C_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized_D3D0E02F7BEA2720715891C0254AF77C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock, Shares Authorized </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="loc_us-gaap_CommonStockSharesAuthorized_D3D0E02F7BEA2720715891C0254AF77C" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CommonStockSharesIssued_6764FC0878F01E336F5B91C0254B7D1D_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_6764FC0878F01E336F5B91C0254B7D1D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common stock, issued shares </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued_6764FC0878F01E336F5B91C0254B7D1D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued_6764FC0878F01E336F5B91C0254B7D1D" xlink:to="lab_us-gaap_CommonStockSharesIssued_6764FC0878F01E336F5B91C0254B7D1D" xlink:type="arc"/>

<link:label id="lab_us-gaap_TreasuryStockShares_EE697DDE34FECF922A5791C0254B905C_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockShares_EE697DDE34FECF922A5791C0254B905C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Treasury stock at cost, shares </link:label>

<link:label id="lab_us-gaap_TreasuryStockShares_EE697DDE34FECF922A5791C0254B905C_label_en-US" xlink:label="lab_us-gaap_TreasuryStockShares_EE697DDE34FECF922A5791C0254B905C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Treasury Stock, Shares </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="loc_us-gaap_TreasuryStockShares_EE697DDE34FECF922A5791C0254B905C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockShares_EE697DDE34FECF922A5791C0254B905C" xlink:to="lab_us-gaap_TreasuryStockShares_EE697DDE34FECF922A5791C0254B905C" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax_865920C74917B3163E8ECC7A1209C2CE_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax_865920C74917B3163E8ECC7A1209C2CE" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Net unrealized loss, tax benefit (expense) </link:label>

<link:label id="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax_865920C74917B3163E8ECC7A1209C2CE_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax_865920C74917B3163E8ECC7A1209C2CE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax_865920C74917B3163E8ECC7A1209C2CE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax_865920C74917B3163E8ECC7A1209C2CE" xlink:to="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax_865920C74917B3163E8ECC7A1209C2CE" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax_C4F84B4177F9A7801B36CC7A1209BB0A_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax_C4F84B4177F9A7801B36CC7A1209BB0A" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Reclassification of net realized loss, tax benefit </link:label>

<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax_C4F84B4177F9A7801B36CC7A1209BB0A_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax_C4F84B4177F9A7801B36CC7A1209BB0A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax_C4F84B4177F9A7801B36CC7A1209BB0A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax_C4F84B4177F9A7801B36CC7A1209BB0A" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax_C4F84B4177F9A7801B36CC7A1209BB0A" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax_04E4A3405C5E4EC5E1D2CC7A12094C3A_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax_04E4A3405C5E4EC5E1D2CC7A12094C3A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pension and other postretirement benefits activity, tax (expense) benefit </link:label>

<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax_04E4A3405C5E4EC5E1D2CC7A12094C3A_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax_04E4A3405C5E4EC5E1D2CC7A12094C3A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax_04E4A3405C5E4EC5E1D2CC7A12094C3A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax_04E4A3405C5E4EC5E1D2CC7A12094C3A" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax_04E4A3405C5E4EC5E1D2CC7A12094C3A" xlink:type="arc"/>

<link:label id="lab_pnw_RegulatoryMattersTextBlock_FAA79A5B547B9B2EAED591C02590A8F4_terseLabel_en-US" xlink:label="lab_pnw_RegulatoryMattersTextBlock_FAA79A5B547B9B2EAED591C02590A8F4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory Matters </link:label>

<link:label id="lab_pnw_RegulatoryMattersTextBlock_FAA79A5B547B9B2EAED591C02590A8F4_label_en-US" xlink:label="lab_pnw_RegulatoryMattersTextBlock_FAA79A5B547B9B2EAED591C02590A8F4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Matters [Text Block] </link:label>

<link:label id="lab_pnw_RegulatoryMattersTextBlock_FAA79A5B547B9B2EAED591C02590A8F4_documentation_en-US" xlink:label="lab_pnw_RegulatoryMattersTextBlock_FAA79A5B547B9B2EAED591C02590A8F4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents Regulatory Matters. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RegulatoryMattersTextBlock" xlink:label="loc_pnw_RegulatoryMattersTextBlock_FAA79A5B547B9B2EAED591C02590A8F4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RegulatoryMattersTextBlock_FAA79A5B547B9B2EAED591C02590A8F4" xlink:to="lab_pnw_RegulatoryMattersTextBlock_FAA79A5B547B9B2EAED591C02590A8F4" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfOperatingLeasedAssetsTable_8DA2D090370A56FFE37A95B0DFAA4DD6_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfOperatingLeasedAssetsTable_8DA2D090370A56FFE37A95B0DFAA4DD6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Operating Leased Assets [Table] </link:label>

<link:label id="lab_us-gaap_ScheduleOfOperatingLeasedAssetsTable_8DA2D090370A56FFE37A95B0DFAA4DD6_label_en-US" xlink:label="lab_us-gaap_ScheduleOfOperatingLeasedAssetsTable_8DA2D090370A56FFE37A95B0DFAA4DD6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Operating Leased Assets [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfOperatingLeasedAssetsTable" xlink:label="loc_us-gaap_ScheduleOfOperatingLeasedAssetsTable_8DA2D090370A56FFE37A95B0DFAA4DD6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfOperatingLeasedAssetsTable_8DA2D090370A56FFE37A95B0DFAA4DD6" xlink:to="lab_us-gaap_ScheduleOfOperatingLeasedAssetsTable_8DA2D090370A56FFE37A95B0DFAA4DD6" xlink:type="arc"/>

<link:label id="lab_pnw_PaloVerdeLessorTrustsMember_0ABD4BFB6B578F7933AD95B0DFAAD871_terseLabel_en-US" xlink:label="lab_pnw_PaloVerdeLessorTrustsMember_0ABD4BFB6B578F7933AD95B0DFAAD871" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde Lessor Trusts </link:label>

<link:label id="lab_pnw_PaloVerdeLessorTrustsMember_0ABD4BFB6B578F7933AD95B0DFAAD871_label_en-US" xlink:label="lab_pnw_PaloVerdeLessorTrustsMember_0ABD4BFB6B578F7933AD95B0DFAAD871" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Palo Verde Lessor Trusts [Member] </link:label>

<link:label id="lab_pnw_PaloVerdeLessorTrustsMember_0ABD4BFB6B578F7933AD95B0DFAAD871_documentation_en-US" xlink:label="lab_pnw_PaloVerdeLessorTrustsMember_0ABD4BFB6B578F7933AD95B0DFAAD871" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents Palo Verde Lessor Trusts, a consolidated variable interest entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PaloVerdeLessorTrustsMember" xlink:label="loc_pnw_PaloVerdeLessorTrustsMember_0ABD4BFB6B578F7933AD95B0DFAAD871" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PaloVerdeLessorTrustsMember_0ABD4BFB6B578F7933AD95B0DFAAD871" xlink:to="lab_pnw_PaloVerdeLessorTrustsMember_0ABD4BFB6B578F7933AD95B0DFAAD871" xlink:type="arc"/>

<link:label id="lab_pnw_ArizonaPublicServiceCompanyMember_7D81AE6E94B0B3525AAD95B0DFAAADDB_verboseLabel_en-US" xlink:label="lab_pnw_ArizonaPublicServiceCompanyMember_7D81AE6E94B0B3525AAD95B0DFAAADDB" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> APS </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ArizonaPublicServiceCompanyMember" xlink:label="loc_pnw_ArizonaPublicServiceCompanyMember_7D81AE6E94B0B3525AAD95B0DFAAADDB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ArizonaPublicServiceCompanyMember_7D81AE6E94B0B3525AAD95B0DFAAADDB" xlink:to="lab_pnw_ArizonaPublicServiceCompanyMember_7D81AE6E94B0B3525AAD95B0DFAAADDB" xlink:type="arc"/>

<link:label id="lab_us-gaap_OperatingLeasedAssetsLineItems_F05708E120592D2633A595B0DFAA5019_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasedAssetsLineItems_F05708E120592D2633A595B0DFAA5019" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Leases </link:label>

<link:label id="lab_us-gaap_OperatingLeasedAssetsLineItems_F05708E120592D2633A595B0DFAA5019_label_en-US" xlink:label="lab_us-gaap_OperatingLeasedAssetsLineItems_F05708E120592D2633A595B0DFAA5019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leased Assets [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasedAssetsLineItems" xlink:label="loc_us-gaap_OperatingLeasedAssetsLineItems_F05708E120592D2633A595B0DFAA5019" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasedAssetsLineItems_F05708E120592D2633A595B0DFAA5019" xlink:to="lab_us-gaap_OperatingLeasedAssetsLineItems_F05708E120592D2633A595B0DFAA5019" xlink:type="arc"/>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_B1E84881202A22F841D495B0DFAA906B_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_B1E84881202A22F841D495B0DFAA906B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Estimated future minimum lease payments for operating leases, excluding purchased power agreements </link:label>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_B1E84881202A22F841D495B0DFAA906B_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_B1E84881202A22F841D495B0DFAA906B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_B1E84881202A22F841D495B0DFAA906B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_B1E84881202A22F841D495B0DFAA906B" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_B1E84881202A22F841D495B0DFAA906B" xlink:type="arc"/>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_2E264F19F05518803C6195B0DFAA627D_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_2E264F19F05518803C6195B0DFAA627D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2016 </link:label>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_2E264F19F05518803C6195B0DFAA627D_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_2E264F19F05518803C6195B0DFAA627D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leases, Future Minimum Payments Due, Next Twelve Months </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_2E264F19F05518803C6195B0DFAA627D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_2E264F19F05518803C6195B0DFAA627D" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_2E264F19F05518803C6195B0DFAA627D" xlink:type="arc"/>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_2CAECE4A19CD55302BA195B0DFAABAC9_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_2CAECE4A19CD55302BA195B0DFAABAC9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2017 </link:label>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_2CAECE4A19CD55302BA195B0DFAABAC9_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_2CAECE4A19CD55302BA195B0DFAABAC9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leases, Future Minimum Payments, Due in Two Years </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_2CAECE4A19CD55302BA195B0DFAABAC9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_2CAECE4A19CD55302BA195B0DFAABAC9" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_2CAECE4A19CD55302BA195B0DFAABAC9" xlink:type="arc"/>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_3C80E3B620B140AA48F295B0DFAAFCF5_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_3C80E3B620B140AA48F295B0DFAAFCF5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2018 </link:label>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_3C80E3B620B140AA48F295B0DFAAFCF5_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_3C80E3B620B140AA48F295B0DFAAFCF5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leases, Future Minimum Payments, Due in Three Years </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_3C80E3B620B140AA48F295B0DFAAFCF5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_3C80E3B620B140AA48F295B0DFAAFCF5" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_3C80E3B620B140AA48F295B0DFAAFCF5" xlink:type="arc"/>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_51A6BE5A899C24CA24B495B0DFAA8DCB_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_51A6BE5A899C24CA24B495B0DFAA8DCB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2019 </link:label>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_51A6BE5A899C24CA24B495B0DFAA8DCB_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_51A6BE5A899C24CA24B495B0DFAA8DCB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leases, Future Minimum Payments, Due in Four Years </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_51A6BE5A899C24CA24B495B0DFAA8DCB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_51A6BE5A899C24CA24B495B0DFAA8DCB" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_51A6BE5A899C24CA24B495B0DFAA8DCB" xlink:type="arc"/>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_7D9EEFFCEF0A94397F8295B0DFAA6B7E_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_7D9EEFFCEF0A94397F8295B0DFAA6B7E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2020 </link:label>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_7D9EEFFCEF0A94397F8295B0DFAA6B7E_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_7D9EEFFCEF0A94397F8295B0DFAA6B7E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leases, Future Minimum Payments, Due in Five Years </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_7D9EEFFCEF0A94397F8295B0DFAA6B7E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_7D9EEFFCEF0A94397F8295B0DFAA6B7E" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_7D9EEFFCEF0A94397F8295B0DFAA6B7E" xlink:type="arc"/>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_3460CD25C48B7AE20E2B95B0DFAB8C25_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_3460CD25C48B7AE20E2B95B0DFAB8C25" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Thereafter </link:label>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_3460CD25C48B7AE20E2B95B0DFAB8C25_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_3460CD25C48B7AE20E2B95B0DFAB8C25" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leases, Future Minimum Payments, Due Thereafter </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_3460CD25C48B7AE20E2B95B0DFAB8C25" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_3460CD25C48B7AE20E2B95B0DFAB8C25" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_3460CD25C48B7AE20E2B95B0DFAB8C25" xlink:type="arc"/>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_B6771769050426C56B6595B0DFABC8D3_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_B6771769050426C56B6595B0DFABC8D3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total future lease commitments </link:label>

<link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_B6771769050426C56B6595B0DFABC8D3_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_B6771769050426C56B6595B0DFABC8D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leases, Future Minimum Payments Due </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_B6771769050426C56B6595B0DFABC8D3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_B6771769050426C56B6595B0DFABC8D3" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_B6771769050426C56B6595B0DFABC8D3" xlink:type="arc"/>

<link:label id="lab_us-gaap_LeaseAndRentalExpense_FD88AC0E453ADD87870B95B0DFAB93B9_terseLabel_en-US" xlink:label="lab_us-gaap_LeaseAndRentalExpense_FD88AC0E453ADD87870B95B0DFAB93B9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Lease expense </link:label>

<link:label id="lab_us-gaap_LeaseAndRentalExpense_FD88AC0E453ADD87870B95B0DFAB93B9_label_en-US" xlink:label="lab_us-gaap_LeaseAndRentalExpense_FD88AC0E453ADD87870B95B0DFAB93B9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leases, Rent Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeaseAndRentalExpense" xlink:label="loc_us-gaap_LeaseAndRentalExpense_FD88AC0E453ADD87870B95B0DFAB93B9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseAndRentalExpense_FD88AC0E453ADD87870B95B0DFAB93B9" xlink:to="lab_us-gaap_LeaseAndRentalExpense_FD88AC0E453ADD87870B95B0DFAB93B9" xlink:type="arc"/>

<link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_3042BC35A2AE7A75BFAD91C0267094F8_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared_3042BC35A2AE7A75BFAD91C0267094F8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common stock dividends declared (in dollars per share) </link:label>

<link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_3042BC35A2AE7A75BFAD91C0267094F8_label_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared_3042BC35A2AE7A75BFAD91C0267094F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock, Dividends, Per Share, Declared </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared_3042BC35A2AE7A75BFAD91C0267094F8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareDeclared_3042BC35A2AE7A75BFAD91C0267094F8" xlink:to="lab_us-gaap_CommonStockDividendsPerShareDeclared_3042BC35A2AE7A75BFAD91C0267094F8" xlink:type="arc"/>

<link:label id="lab_us-gaap_EnvironmentalRemediationContingencyAxis_CEF598BEC53692F9F9F9E6254D33586A_terseLabel_en-US" xlink:label="lab_us-gaap_EnvironmentalRemediationContingencyAxis_CEF598BEC53692F9F9F9E6254D33586A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Environmental Remediation Contingency [Axis] </link:label>

<link:label id="lab_us-gaap_EnvironmentalRemediationContingencyAxis_CEF598BEC53692F9F9F9E6254D33586A_label_en-US" xlink:label="lab_us-gaap_EnvironmentalRemediationContingencyAxis_CEF598BEC53692F9F9F9E6254D33586A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Environmental Remediation Contingency [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EnvironmentalRemediationContingencyAxis" xlink:label="loc_us-gaap_EnvironmentalRemediationContingencyAxis_CEF598BEC53692F9F9F9E6254D33586A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EnvironmentalRemediationContingencyAxis_CEF598BEC53692F9F9F9E6254D33586A" xlink:to="lab_us-gaap_EnvironmentalRemediationContingencyAxis_CEF598BEC53692F9F9F9E6254D33586A" xlink:type="arc"/>

<link:label id="lab_us-gaap_EnvironmentalRemediationContingencyDomain_C54D556F83D95362018AE6254D337DB7_terseLabel_en-US" xlink:label="lab_us-gaap_EnvironmentalRemediationContingencyDomain_C54D556F83D95362018AE6254D337DB7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Environmental Remediation Contingency [Domain] </link:label>

<link:label id="lab_us-gaap_EnvironmentalRemediationContingencyDomain_C54D556F83D95362018AE6254D337DB7_label_en-US" xlink:label="lab_us-gaap_EnvironmentalRemediationContingencyDomain_C54D556F83D95362018AE6254D337DB7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Environmental Remediation Contingency [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EnvironmentalRemediationContingencyDomain" xlink:label="loc_us-gaap_EnvironmentalRemediationContingencyDomain_C54D556F83D95362018AE6254D337DB7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EnvironmentalRemediationContingencyDomain_C54D556F83D95362018AE6254D337DB7" xlink:to="lab_us-gaap_EnvironmentalRemediationContingencyDomain_C54D556F83D95362018AE6254D337DB7" xlink:type="arc"/>

<link:label id="lab_pnw_RegionalHazeRulesMember_E02FE6ED9DE369F7CECCE6254D33EF41_terseLabel_en-US" xlink:label="lab_pnw_RegionalHazeRulesMember_E02FE6ED9DE369F7CECCE6254D33EF41" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regional Haze Rules </link:label>

<link:label id="lab_pnw_RegionalHazeRulesMember_E02FE6ED9DE369F7CECCE6254D33EF41_label_en-US" xlink:label="lab_pnw_RegionalHazeRulesMember_E02FE6ED9DE369F7CECCE6254D33EF41" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regional Haze Rules [Member] </link:label>

<link:label id="lab_pnw_RegionalHazeRulesMember_E02FE6ED9DE369F7CECCE6254D33EF41_documentation_en-US" xlink:label="lab_pnw_RegionalHazeRulesMember_E02FE6ED9DE369F7CECCE6254D33EF41" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Regional Haze Rules [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RegionalHazeRulesMember" xlink:label="loc_pnw_RegionalHazeRulesMember_E02FE6ED9DE369F7CECCE6254D33EF41" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RegionalHazeRulesMember_E02FE6ED9DE369F7CECCE6254D33EF41" xlink:to="lab_pnw_RegionalHazeRulesMember_E02FE6ED9DE369F7CECCE6254D33EF41" xlink:type="arc"/>

<link:label id="lab_pnw_MercuryandAirToxicStandardsMember_F1A25C3877AD6AB00C96E6254D33E119_terseLabel_en-US" xlink:label="lab_pnw_MercuryandAirToxicStandardsMember_F1A25C3877AD6AB00C96E6254D33E119" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Mercury and Air Toxic Standards </link:label>

<link:label id="lab_pnw_MercuryandAirToxicStandardsMember_F1A25C3877AD6AB00C96E6254D33E119_label_en-US" xlink:label="lab_pnw_MercuryandAirToxicStandardsMember_F1A25C3877AD6AB00C96E6254D33E119" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Mercury and Air Toxic Standards [Member] </link:label>

<link:label id="lab_pnw_MercuryandAirToxicStandardsMember_F1A25C3877AD6AB00C96E6254D33E119_documentation_en-US" xlink:label="lab_pnw_MercuryandAirToxicStandardsMember_F1A25C3877AD6AB00C96E6254D33E119" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Mercury and Air Toxic Standards [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_MercuryandAirToxicStandardsMember" xlink:label="loc_pnw_MercuryandAirToxicStandardsMember_F1A25C3877AD6AB00C96E6254D33E119" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_MercuryandAirToxicStandardsMember_F1A25C3877AD6AB00C96E6254D33E119" xlink:to="lab_pnw_MercuryandAirToxicStandardsMember_F1A25C3877AD6AB00C96E6254D33E119" xlink:type="arc"/>

<link:label id="lab_pnw_CoalCombustionWasteMember_93C81EDD49006525FAF9E6254D33761F_terseLabel_en-US" xlink:label="lab_pnw_CoalCombustionWasteMember_93C81EDD49006525FAF9E6254D33761F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Coal Combustion Waste </link:label>

<link:label id="lab_pnw_CoalCombustionWasteMember_93C81EDD49006525FAF9E6254D33761F_label_en-US" xlink:label="lab_pnw_CoalCombustionWasteMember_93C81EDD49006525FAF9E6254D33761F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Coal Combustion Waste [Member] </link:label>

<link:label id="lab_pnw_CoalCombustionWasteMember_93C81EDD49006525FAF9E6254D33761F_documentation_en-US" xlink:label="lab_pnw_CoalCombustionWasteMember_93C81EDD49006525FAF9E6254D33761F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Coal Combustion Waste [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_CoalCombustionWasteMember" xlink:label="loc_pnw_CoalCombustionWasteMember_93C81EDD49006525FAF9E6254D33761F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_CoalCombustionWasteMember_93C81EDD49006525FAF9E6254D33761F" xlink:to="lab_pnw_CoalCombustionWasteMember_93C81EDD49006525FAF9E6254D33761F" xlink:type="arc"/>

<link:label id="lab_pnw_FourCornersUnits4And5Member_E3A37395B6253674B2A0E6254D34FCFD_terseLabel_en-US" xlink:label="lab_pnw_FourCornersUnits4And5Member_E3A37395B6253674B2A0E6254D34FCFD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Four Corners Units 4 and 5 </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FourCornersUnits4And5Member" xlink:label="loc_pnw_FourCornersUnits4And5Member_E3A37395B6253674B2A0E6254D34FCFD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FourCornersUnits4And5Member_E3A37395B6253674B2A0E6254D34FCFD" xlink:to="lab_pnw_FourCornersUnits4And5Member_E3A37395B6253674B2A0E6254D34FCFD" xlink:type="arc"/>

<link:label id="lab_pnw_EquityLessorsSaleLeasebackLetterOfCreditMember_F427E263F6E2CC121F51E6254D3437F6_terseLabel_en-US" xlink:label="lab_pnw_EquityLessorsSaleLeasebackLetterOfCreditMember_F427E263F6E2CC121F51E6254D3437F6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Equity Lessors Sale Leaseback Letter of Credit </link:label>

<link:label id="lab_pnw_EquityLessorsSaleLeasebackLetterOfCreditMember_F427E263F6E2CC121F51E6254D3437F6_label_en-US" xlink:label="lab_pnw_EquityLessorsSaleLeasebackLetterOfCreditMember_F427E263F6E2CC121F51E6254D3437F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Equity Lessors Sale Leaseback Letter of Credit [Member] </link:label>

<link:label id="lab_pnw_EquityLessorsSaleLeasebackLetterOfCreditMember_F427E263F6E2CC121F51E6254D3437F6_documentation_en-US" xlink:label="lab_pnw_EquityLessorsSaleLeasebackLetterOfCreditMember_F427E263F6E2CC121F51E6254D3437F6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> A document typically issued by a financial institution which acts as a guarantee of payment to a beneficiary, or as the source of payment for a specific transaction to support certain equity lessors in sales leaseack transactions as of the reporting date. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_EquityLessorsSaleLeasebackLetterOfCreditMember" xlink:label="loc_pnw_EquityLessorsSaleLeasebackLetterOfCreditMember_F427E263F6E2CC121F51E6254D3437F6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_EquityLessorsSaleLeasebackLetterOfCreditMember_F427E263F6E2CC121F51E6254D3437F6" xlink:to="lab_pnw_EquityLessorsSaleLeasebackLetterOfCreditMember_F427E263F6E2CC121F51E6254D3437F6" xlink:type="arc"/>

<link:label id="lab_pnw_NewMexicoTaxMatterMember_51AB32C7BD647E871E97E6254D35341C_terseLabel_en-US" xlink:label="lab_pnw_NewMexicoTaxMatterMember_51AB32C7BD647E871E97E6254D35341C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> New Mexico Tax Matter </link:label>

<link:label id="lab_pnw_NewMexicoTaxMatterMember_51AB32C7BD647E871E97E6254D35341C_label_en-US" xlink:label="lab_pnw_NewMexicoTaxMatterMember_51AB32C7BD647E871E97E6254D35341C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> New Mexico Tax Matter [Member] </link:label>

<link:label id="lab_pnw_NewMexicoTaxMatterMember_51AB32C7BD647E871E97E6254D35341C_documentation_en-US" xlink:label="lab_pnw_NewMexicoTaxMatterMember_51AB32C7BD647E871E97E6254D35341C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represent information pertaining to New Mexico Tax Matter. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NewMexicoTaxMatterMember" xlink:label="loc_pnw_NewMexicoTaxMatterMember_51AB32C7BD647E871E97E6254D35341C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NewMexicoTaxMatterMember_51AB32C7BD647E871E97E6254D35341C" xlink:to="lab_pnw_NewMexicoTaxMatterMember_51AB32C7BD647E871E97E6254D35341C" xlink:type="arc"/>

<link:label id="lab_us-gaap_EnvironmentalRemediationSiteAxis_AAB20879E8F8E08D3532E6254D353AAE_terseLabel_en-US" xlink:label="lab_us-gaap_EnvironmentalRemediationSiteAxis_AAB20879E8F8E08D3532E6254D353AAE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Environmental Remediation Site [Axis] </link:label>

<link:label id="lab_us-gaap_EnvironmentalRemediationSiteAxis_AAB20879E8F8E08D3532E6254D353AAE_label_en-US" xlink:label="lab_us-gaap_EnvironmentalRemediationSiteAxis_AAB20879E8F8E08D3532E6254D353AAE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Environmental Remediation Site [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EnvironmentalRemediationSiteAxis" xlink:label="loc_us-gaap_EnvironmentalRemediationSiteAxis_AAB20879E8F8E08D3532E6254D353AAE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EnvironmentalRemediationSiteAxis_AAB20879E8F8E08D3532E6254D353AAE" xlink:to="lab_us-gaap_EnvironmentalRemediationSiteAxis_AAB20879E8F8E08D3532E6254D353AAE" xlink:type="arc"/>

<link:label id="lab_us-gaap_EnvironmentalRemediationSiteDomain_DD7E16A7270D5E327364E6254D35D877_terseLabel_en-US" xlink:label="lab_us-gaap_EnvironmentalRemediationSiteDomain_DD7E16A7270D5E327364E6254D35D877" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Environmental Remediation Site [Domain] </link:label>

<link:label id="lab_us-gaap_EnvironmentalRemediationSiteDomain_DD7E16A7270D5E327364E6254D35D877_label_en-US" xlink:label="lab_us-gaap_EnvironmentalRemediationSiteDomain_DD7E16A7270D5E327364E6254D35D877" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Environmental Remediation Site [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EnvironmentalRemediationSiteDomain" xlink:label="loc_us-gaap_EnvironmentalRemediationSiteDomain_DD7E16A7270D5E327364E6254D35D877" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EnvironmentalRemediationSiteDomain_DD7E16A7270D5E327364E6254D35D877" xlink:to="lab_us-gaap_EnvironmentalRemediationSiteDomain_DD7E16A7270D5E327364E6254D35D877" xlink:type="arc"/>

<link:label id="lab_pnw_NavajoPlantMember_16C0F587FAA324F8835BE6254D355749_terseLabel_en-US" xlink:label="lab_pnw_NavajoPlantMember_16C0F587FAA324F8835BE6254D355749" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Navajo Plant </link:label>

<link:label id="lab_pnw_NavajoPlantMember_16C0F587FAA324F8835BE6254D355749_label_en-US" xlink:label="lab_pnw_NavajoPlantMember_16C0F587FAA324F8835BE6254D355749" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Navajo Plant [Member] </link:label>

<link:label id="lab_pnw_NavajoPlantMember_16C0F587FAA324F8835BE6254D355749_documentation_en-US" xlink:label="lab_pnw_NavajoPlantMember_16C0F587FAA324F8835BE6254D355749" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represent information pertaining to Navajo Plant. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NavajoPlantMember" xlink:label="loc_pnw_NavajoPlantMember_16C0F587FAA324F8835BE6254D355749" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NavajoPlantMember_16C0F587FAA324F8835BE6254D355749" xlink:to="lab_pnw_NavajoPlantMember_16C0F587FAA324F8835BE6254D355749" xlink:type="arc"/>

<link:label id="lab_pnw_ChollaUnits1To3Member_55B01894429EE288AFAAE6254D356231_terseLabel_en-US" xlink:label="lab_pnw_ChollaUnits1To3Member_55B01894429EE288AFAAE6254D356231" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cholla Units 1-3 </link:label>

<link:label id="lab_pnw_ChollaUnits1To3Member_55B01894429EE288AFAAE6254D356231_label_en-US" xlink:label="lab_pnw_ChollaUnits1To3Member_55B01894429EE288AFAAE6254D356231" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cholla Units 1 to 3 [Member] </link:label>

<link:label id="lab_pnw_ChollaUnits1To3Member_55B01894429EE288AFAAE6254D356231_documentation_en-US" xlink:label="lab_pnw_ChollaUnits1To3Member_55B01894429EE288AFAAE6254D356231" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represent information pertaining to Cholla Units 1-3. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ChollaUnits1To3Member" xlink:label="loc_pnw_ChollaUnits1To3Member_55B01894429EE288AFAAE6254D356231" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ChollaUnits1To3Member_55B01894429EE288AFAAE6254D356231" xlink:to="lab_pnw_ChollaUnits1To3Member_55B01894429EE288AFAAE6254D356231" xlink:type="arc"/>

<link:label id="lab_pnw_NavajoGeneratingStationMember_5BA99725B676FF20BA30E6254D35BABC_terseLabel_en-US" xlink:label="lab_pnw_NavajoGeneratingStationMember_5BA99725B676FF20BA30E6254D35BABC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Navajo Generating Station </link:label>

<link:label id="lab_pnw_NavajoGeneratingStationMember_5BA99725B676FF20BA30E6254D35BABC_label_en-US" xlink:label="lab_pnw_NavajoGeneratingStationMember_5BA99725B676FF20BA30E6254D35BABC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Navajo Generating Station [Member] </link:label>

<link:label id="lab_pnw_NavajoGeneratingStationMember_5BA99725B676FF20BA30E6254D35BABC_documentation_en-US" xlink:label="lab_pnw_NavajoGeneratingStationMember_5BA99725B676FF20BA30E6254D35BABC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represent information pertaining to Navajo Generating Station. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NavajoGeneratingStationMember" xlink:label="loc_pnw_NavajoGeneratingStationMember_5BA99725B676FF20BA30E6254D35BABC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NavajoGeneratingStationMember_5BA99725B676FF20BA30E6254D35BABC" xlink:to="lab_pnw_NavajoGeneratingStationMember_5BA99725B676FF20BA30E6254D35BABC" xlink:type="arc"/>

<link:label id="lab_pnw_EnvironmentalMattersAbstract_9701435457D19B2C0FB3E6254D3633C0_terseLabel_en-US" xlink:label="lab_pnw_EnvironmentalMattersAbstract_9701435457D19B2C0FB3E6254D3633C0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Environmental Matters [Abstract] </link:label>

<link:label id="lab_pnw_EnvironmentalMattersAbstract_9701435457D19B2C0FB3E6254D3633C0_label_en-US" xlink:label="lab_pnw_EnvironmentalMattersAbstract_9701435457D19B2C0FB3E6254D3633C0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Environmental Matters [Abstract] </link:label>

<link:label id="lab_pnw_EnvironmentalMattersAbstract_9701435457D19B2C0FB3E6254D3633C0_documentation_en-US" xlink:label="lab_pnw_EnvironmentalMattersAbstract_9701435457D19B2C0FB3E6254D3633C0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Environmental Matters [Abstract] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_EnvironmentalMattersAbstract" xlink:label="loc_pnw_EnvironmentalMattersAbstract_9701435457D19B2C0FB3E6254D3633C0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_EnvironmentalMattersAbstract_9701435457D19B2C0FB3E6254D3633C0" xlink:to="lab_pnw_EnvironmentalMattersAbstract_9701435457D19B2C0FB3E6254D3633C0" xlink:type="arc"/>

<link:label id="lab_pnw_PercentageOfShareOfCostOfControl_9BBA7E213B3C4F655AB5E6254D36868B_terseLabel_en-US" xlink:label="lab_pnw_PercentageOfShareOfCostOfControl_9BBA7E213B3C4F655AB5E6254D36868B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of share of cost of control </link:label>

<link:label id="lab_pnw_PercentageOfShareOfCostOfControl_9BBA7E213B3C4F655AB5E6254D36868B_label_en-US" xlink:label="lab_pnw_PercentageOfShareOfCostOfControl_9BBA7E213B3C4F655AB5E6254D36868B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percentage of Share of Cost of Control </link:label>

<link:label id="lab_pnw_PercentageOfShareOfCostOfControl_9BBA7E213B3C4F655AB5E6254D36868B_documentation_en-US" xlink:label="lab_pnw_PercentageOfShareOfCostOfControl_9BBA7E213B3C4F655AB5E6254D36868B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the percentage of share of the cost of control acquired by the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PercentageOfShareOfCostOfControl" xlink:label="loc_pnw_PercentageOfShareOfCostOfControl_9BBA7E213B3C4F655AB5E6254D36868B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PercentageOfShareOfCostOfControl_9BBA7E213B3C4F655AB5E6254D36868B" xlink:to="lab_pnw_PercentageOfShareOfCostOfControl_9BBA7E213B3C4F655AB5E6254D36868B" xlink:type="arc"/>

<link:label id="lab_us-gaap_SiteContingencyLossExposureNotAccruedBestEstimate_650157E7BA4461197846E6254D36A8F8_terseLabel_en-US" xlink:label="lab_us-gaap_SiteContingencyLossExposureNotAccruedBestEstimate_650157E7BA4461197846E6254D36A8F8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Expected environmental cost </link:label>

<link:label id="lab_us-gaap_SiteContingencyLossExposureNotAccruedBestEstimate_650157E7BA4461197846E6254D36A8F8_label_en-US" xlink:label="lab_us-gaap_SiteContingencyLossExposureNotAccruedBestEstimate_650157E7BA4461197846E6254D36A8F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Site Contingency, Loss Exposure Not Accrued, Best Estimate </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SiteContingencyLossExposureNotAccruedBestEstimate" xlink:label="loc_us-gaap_SiteContingencyLossExposureNotAccruedBestEstimate_650157E7BA4461197846E6254D36A8F8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SiteContingencyLossExposureNotAccruedBestEstimate_650157E7BA4461197846E6254D36A8F8" xlink:to="lab_us-gaap_SiteContingencyLossExposureNotAccruedBestEstimate_650157E7BA4461197846E6254D36A8F8" xlink:type="arc"/>

<link:label id="lab_pnw_AssetPurchaseAgreementAdditionalPercentageShareofCostofControl_1F7C943C652B45DB9FD0E6254D36F6E3_terseLabel_en-US" xlink:label="lab_pnw_AssetPurchaseAgreementAdditionalPercentageShareofCostofControl_1F7C943C652B45DB9FD0E6254D36F6E3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additional percentage share of cost of control </link:label>

<link:label id="lab_pnw_AssetPurchaseAgreementAdditionalPercentageShareofCostofControl_1F7C943C652B45DB9FD0E6254D36F6E3_label_en-US" xlink:label="lab_pnw_AssetPurchaseAgreementAdditionalPercentageShareofCostofControl_1F7C943C652B45DB9FD0E6254D36F6E3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Purchase Agreement, Additional Percentage Share of Cost of Control </link:label>

<link:label id="lab_pnw_AssetPurchaseAgreementAdditionalPercentageShareofCostofControl_1F7C943C652B45DB9FD0E6254D36F6E3_documentation_en-US" xlink:label="lab_pnw_AssetPurchaseAgreementAdditionalPercentageShareofCostofControl_1F7C943C652B45DB9FD0E6254D36F6E3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Asset Purchase Agreement, Additional Percentage Share of Cost of Control </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AssetPurchaseAgreementAdditionalPercentageShareofCostofControl" xlink:label="loc_pnw_AssetPurchaseAgreementAdditionalPercentageShareofCostofControl_1F7C943C652B45DB9FD0E6254D36F6E3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AssetPurchaseAgreementAdditionalPercentageShareofCostofControl_1F7C943C652B45DB9FD0E6254D36F6E3" xlink:to="lab_pnw_AssetPurchaseAgreementAdditionalPercentageShareofCostofControl_1F7C943C652B45DB9FD0E6254D36F6E3" xlink:type="arc"/>

<link:label id="lab_pnw_AssetPurchaseAgreementSiteContingencyIncreaseinLossExposureNotAccruedBestEstimate_E5481B5FBFEDAB3A2828E6254D36AC16_terseLabel_en-US" xlink:label="lab_pnw_AssetPurchaseAgreementSiteContingencyIncreaseinLossExposureNotAccruedBestEstimate_E5481B5FBFEDAB3A2828E6254D36AC16" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additional expected environment cost </link:label>

<link:label id="lab_pnw_AssetPurchaseAgreementSiteContingencyIncreaseinLossExposureNotAccruedBestEstimate_E5481B5FBFEDAB3A2828E6254D36AC16_label_en-US" xlink:label="lab_pnw_AssetPurchaseAgreementSiteContingencyIncreaseinLossExposureNotAccruedBestEstimate_E5481B5FBFEDAB3A2828E6254D36AC16" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Purchase Agreement, Site Contingency, Increase in Loss Exposure Not Accrued, Best Estimate </link:label>

<link:label id="lab_pnw_AssetPurchaseAgreementSiteContingencyIncreaseinLossExposureNotAccruedBestEstimate_E5481B5FBFEDAB3A2828E6254D36AC16_documentation_en-US" xlink:label="lab_pnw_AssetPurchaseAgreementSiteContingencyIncreaseinLossExposureNotAccruedBestEstimate_E5481B5FBFEDAB3A2828E6254D36AC16" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Asset Purchase Agreement, Site Contingency, Increase in Loss Exposure Not Accrued, Best Estimate </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AssetPurchaseAgreementSiteContingencyIncreaseinLossExposureNotAccruedBestEstimate" xlink:label="loc_pnw_AssetPurchaseAgreementSiteContingencyIncreaseinLossExposureNotAccruedBestEstimate_E5481B5FBFEDAB3A2828E6254D36AC16" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AssetPurchaseAgreementSiteContingencyIncreaseinLossExposureNotAccruedBestEstimate_E5481B5FBFEDAB3A2828E6254D36AC16" xlink:to="lab_pnw_AssetPurchaseAgreementSiteContingencyIncreaseinLossExposureNotAccruedBestEstimate_E5481B5FBFEDAB3A2828E6254D36AC16" xlink:type="arc"/>

<link:label id="lab_pnw_CleanPowerPlanOptionalExtensionPeriod_015D46582A242B37BD75E66232E3A7FA_terseLabel_en-US" xlink:label="lab_pnw_CleanPowerPlanOptionalExtensionPeriod_015D46582A242B37BD75E66232E3A7FA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Clean power plan, optional extension period </link:label>

<link:label id="lab_pnw_CleanPowerPlanOptionalExtensionPeriod_015D46582A242B37BD75E66232E3A7FA_label_en-US" xlink:label="lab_pnw_CleanPowerPlanOptionalExtensionPeriod_015D46582A242B37BD75E66232E3A7FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Clean Power Plan, Optional Extension Period </link:label>

<link:label id="lab_pnw_CleanPowerPlanOptionalExtensionPeriod_015D46582A242B37BD75E66232E3A7FA_documentation_en-US" xlink:label="lab_pnw_CleanPowerPlanOptionalExtensionPeriod_015D46582A242B37BD75E66232E3A7FA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Clean Power Plan, Optional Extension Period </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_CleanPowerPlanOptionalExtensionPeriod" xlink:label="loc_pnw_CleanPowerPlanOptionalExtensionPeriod_015D46582A242B37BD75E66232E3A7FA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_CleanPowerPlanOptionalExtensionPeriod_015D46582A242B37BD75E66232E3A7FA" xlink:to="lab_pnw_CleanPowerPlanOptionalExtensionPeriod_015D46582A242B37BD75E66232E3A7FA" xlink:type="arc"/>

<link:label id="lab_pnw_LossContingencyCoalSeveranceSurtaxPenaltyAndInterest_7D28A2702287021DBAC4E6254D368F16_terseLabel_en-US" xlink:label="lab_pnw_LossContingencyCoalSeveranceSurtaxPenaltyAndInterest_7D28A2702287021DBAC4E6254D368F16" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Coal severance surtax, penalty, and interest </link:label>

<link:label id="lab_pnw_LossContingencyCoalSeveranceSurtaxPenaltyAndInterest_7D28A2702287021DBAC4E6254D368F16_label_en-US" xlink:label="lab_pnw_LossContingencyCoalSeveranceSurtaxPenaltyAndInterest_7D28A2702287021DBAC4E6254D368F16" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss Contingency Coal Severance Surtax Penalty and Interest </link:label>

<link:label id="lab_pnw_LossContingencyCoalSeveranceSurtaxPenaltyAndInterest_7D28A2702287021DBAC4E6254D368F16_documentation_en-US" xlink:label="lab_pnw_LossContingencyCoalSeveranceSurtaxPenaltyAndInterest_7D28A2702287021DBAC4E6254D368F16" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represent information pertaining to total amount of coal severance surtax, penalty, and interest related to coal supplied under the coal supply agreement. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LossContingencyCoalSeveranceSurtaxPenaltyAndInterest" xlink:label="loc_pnw_LossContingencyCoalSeveranceSurtaxPenaltyAndInterest_7D28A2702287021DBAC4E6254D368F16" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_LossContingencyCoalSeveranceSurtaxPenaltyAndInterest_7D28A2702287021DBAC4E6254D368F16" xlink:to="lab_pnw_LossContingencyCoalSeveranceSurtaxPenaltyAndInterest_7D28A2702287021DBAC4E6254D368F16" xlink:type="arc"/>

<link:label id="lab_pnw_LossContingencyAssessmentShare_B7F495844B637D0A4415E6254D375515_terseLabel_en-US" xlink:label="lab_pnw_LossContingencyAssessmentShare_B7F495844B637D0A4415E6254D375515" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Share of the assessment </link:label>

<link:label id="lab_pnw_LossContingencyAssessmentShare_B7F495844B637D0A4415E6254D375515_label_en-US" xlink:label="lab_pnw_LossContingencyAssessmentShare_B7F495844B637D0A4415E6254D375515" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss Contingency Assessment Share </link:label>

<link:label id="lab_pnw_LossContingencyAssessmentShare_B7F495844B637D0A4415E6254D375515_documentation_en-US" xlink:label="lab_pnw_LossContingencyAssessmentShare_B7F495844B637D0A4415E6254D375515" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represent information pertaining to share of the assessment. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LossContingencyAssessmentShare" xlink:label="loc_pnw_LossContingencyAssessmentShare_B7F495844B637D0A4415E6254D375515" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_LossContingencyAssessmentShare_B7F495844B637D0A4415E6254D375515" xlink:to="lab_pnw_LossContingencyAssessmentShare_B7F495844B637D0A4415E6254D375515" xlink:type="arc"/>

<link:label id="lab_us-gaap_LitigationSettlementAmount_0104297D0A82FDB44370E6254D373A75_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_LitigationSettlementAmount_0104297D0A82FDB44370E6254D373A75" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Litigation settlement, amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LitigationSettlementAmount" xlink:label="loc_us-gaap_LitigationSettlementAmount_0104297D0A82FDB44370E6254D373A75" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LitigationSettlementAmount_0104297D0A82FDB44370E6254D373A75" xlink:to="lab_us-gaap_LitigationSettlementAmount_0104297D0A82FDB44370E6254D373A75" xlink:type="arc"/>

<link:label id="lab_pnw_FinancialAssurancesAbstract_6EE42DBE4CB87E320712E6254D371880_terseLabel_en-US" xlink:label="lab_pnw_FinancialAssurancesAbstract_6EE42DBE4CB87E320712E6254D371880" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financial Assurances </link:label>

<link:label id="lab_pnw_FinancialAssurancesAbstract_6EE42DBE4CB87E320712E6254D371880_label_en-US" xlink:label="lab_pnw_FinancialAssurancesAbstract_6EE42DBE4CB87E320712E6254D371880" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financial Assurances [Abstract] </link:label>

<link:label id="lab_pnw_FinancialAssurancesAbstract_6EE42DBE4CB87E320712E6254D371880_documentation_en-US" xlink:label="lab_pnw_FinancialAssurancesAbstract_6EE42DBE4CB87E320712E6254D371880" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FinancialAssurancesAbstract" xlink:label="loc_pnw_FinancialAssurancesAbstract_6EE42DBE4CB87E320712E6254D371880" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FinancialAssurancesAbstract_6EE42DBE4CB87E320712E6254D371880" xlink:to="lab_pnw_FinancialAssurancesAbstract_6EE42DBE4CB87E320712E6254D371880" xlink:type="arc"/>

<link:label id="lab_pnw_TermLoanMember_33BBDF10D8D059A4A340D90F5AA8EF15_terseLabel_en-US" xlink:label="lab_pnw_TermLoanMember_33BBDF10D8D059A4A340D90F5AA8EF15" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Term loan </link:label>

<link:label id="lab_pnw_TermLoanMember_33BBDF10D8D059A4A340D90F5AA8EF15_label_en-US" xlink:label="lab_pnw_TermLoanMember_33BBDF10D8D059A4A340D90F5AA8EF15" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Term Loan [Member] </link:label>

<link:label id="lab_pnw_TermLoanMember_33BBDF10D8D059A4A340D90F5AA8EF15_documentation_en-US" xlink:label="lab_pnw_TermLoanMember_33BBDF10D8D059A4A340D90F5AA8EF15" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Term Loan [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_TermLoanMember" xlink:label="loc_pnw_TermLoanMember_33BBDF10D8D059A4A340D90F5AA8EF15" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_TermLoanMember_33BBDF10D8D059A4A340D90F5AA8EF15" xlink:to="lab_pnw_TermLoanMember_33BBDF10D8D059A4A340D90F5AA8EF15" xlink:type="arc"/>

<link:label id="lab_pnw_PollutionControlBondsVariableMember_5723745C13D8FDBA2DB7D90F5AA8688C_terseLabel_en-US" xlink:label="lab_pnw_PollutionControlBondsVariableMember_5723745C13D8FDBA2DB7D90F5AA8688C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pollution Control Bonds - Variable </link:label>

<link:label id="lab_pnw_PollutionControlBondsVariableMember_5723745C13D8FDBA2DB7D90F5AA8688C_label_en-US" xlink:label="lab_pnw_PollutionControlBondsVariableMember_5723745C13D8FDBA2DB7D90F5AA8688C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pollution Control Bonds Variable [Member] </link:label>

<link:label id="lab_pnw_PollutionControlBondsVariableMember_5723745C13D8FDBA2DB7D90F5AA8688C_documentation_en-US" xlink:label="lab_pnw_PollutionControlBondsVariableMember_5723745C13D8FDBA2DB7D90F5AA8688C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> A debt security issued by a state, certain agencies or authorities, a local government, or development corporation to finance the construction of air- or water-pollution control facilities or sewage or solid waste disposal facilities pursuant to federal law and which is carrying a variable interest rate. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PollutionControlBondsVariableMember" xlink:label="loc_pnw_PollutionControlBondsVariableMember_5723745C13D8FDBA2DB7D90F5AA8688C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PollutionControlBondsVariableMember_5723745C13D8FDBA2DB7D90F5AA8688C" xlink:to="lab_pnw_PollutionControlBondsVariableMember_5723745C13D8FDBA2DB7D90F5AA8688C" xlink:type="arc"/>

<link:label id="lab_pnw_PollutionControlBondsFixedMember_EF1B6D4A2790F6E4DDBFD90F5AA8A778_terseLabel_en-US" xlink:label="lab_pnw_PollutionControlBondsFixedMember_EF1B6D4A2790F6E4DDBFD90F5AA8A778" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pollution Control Bonds - Fixed </link:label>

<link:label id="lab_pnw_PollutionControlBondsFixedMember_EF1B6D4A2790F6E4DDBFD90F5AA8A778_label_en-US" xlink:label="lab_pnw_PollutionControlBondsFixedMember_EF1B6D4A2790F6E4DDBFD90F5AA8A778" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pollution Control Bonds Fixed [Member] </link:label>

<link:label id="lab_pnw_PollutionControlBondsFixedMember_EF1B6D4A2790F6E4DDBFD90F5AA8A778_documentation_en-US" xlink:label="lab_pnw_PollutionControlBondsFixedMember_EF1B6D4A2790F6E4DDBFD90F5AA8A778" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> A debt security issued by a state, certain agencies or authorities, a local government, or development corporation to finance the construction of air- or water-pollution control facilities or sewage or solid waste disposal facilities pursuant to federal law and which is carrying a fixed interest rate. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PollutionControlBondsFixedMember" xlink:label="loc_pnw_PollutionControlBondsFixedMember_EF1B6D4A2790F6E4DDBFD90F5AA8A778" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PollutionControlBondsFixedMember_EF1B6D4A2790F6E4DDBFD90F5AA8A778" xlink:to="lab_pnw_PollutionControlBondsFixedMember_EF1B6D4A2790F6E4DDBFD90F5AA8A778" xlink:type="arc"/>

<link:label id="lab_pnw_PollutionControlBondsMember_4D3BD7948A3190004A8AD90F5AA8D231_terseLabel_en-US" xlink:label="lab_pnw_PollutionControlBondsMember_4D3BD7948A3190004A8AD90F5AA8D231" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total Pollution Control Bonds </link:label>

<link:label id="lab_pnw_PollutionControlBondsMember_4D3BD7948A3190004A8AD90F5AA8D231_label_en-US" xlink:label="lab_pnw_PollutionControlBondsMember_4D3BD7948A3190004A8AD90F5AA8D231" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pollution Control Bonds [Member] </link:label>

<link:label id="lab_pnw_PollutionControlBondsMember_4D3BD7948A3190004A8AD90F5AA8D231_documentation_en-US" xlink:label="lab_pnw_PollutionControlBondsMember_4D3BD7948A3190004A8AD90F5AA8D231" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> A debt security issued by a state, certain agencies or authorities, a local government, or development corporation to finance the construction of air- or water-pollution control facilities or sewage or solid waste disposal facilities pursuant to federal law. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PollutionControlBondsMember" xlink:label="loc_pnw_PollutionControlBondsMember_4D3BD7948A3190004A8AD90F5AA8D231" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PollutionControlBondsMember_4D3BD7948A3190004A8AD90F5AA8D231" xlink:to="lab_pnw_PollutionControlBondsMember_4D3BD7948A3190004A8AD90F5AA8D231" xlink:type="arc"/>

<link:label id="lab_pnw_SeniorUnsecuredNotesMaturing2016Through2045Member_FAC0536E926FFAA06B8FD90F5AA83140_terseLabel_en-US" xlink:label="lab_pnw_SeniorUnsecuredNotesMaturing2016Through2045Member_FAC0536E926FFAA06B8FD90F5AA83140" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Senior unsecured notes </link:label>

<link:label id="lab_pnw_SeniorUnsecuredNotesMaturing2016Through2045Member_FAC0536E926FFAA06B8FD90F5AA83140_label_en-US" xlink:label="lab_pnw_SeniorUnsecuredNotesMaturing2016Through2045Member_FAC0536E926FFAA06B8FD90F5AA83140" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Senior Unsecured Notes Maturing 2016 Through 2045 [Member] </link:label>

<link:label id="lab_pnw_SeniorUnsecuredNotesMaturing2016Through2045Member_FAC0536E926FFAA06B8FD90F5AA83140_documentation_en-US" xlink:label="lab_pnw_SeniorUnsecuredNotesMaturing2016Through2045Member_FAC0536E926FFAA06B8FD90F5AA83140" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Senior Unsecured Notes Maturing 2016 Through 2045 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SeniorUnsecuredNotesMaturing2016Through2045Member" xlink:label="loc_pnw_SeniorUnsecuredNotesMaturing2016Through2045Member_FAC0536E926FFAA06B8FD90F5AA83140" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SeniorUnsecuredNotesMaturing2016Through2045Member_FAC0536E926FFAA06B8FD90F5AA83140" xlink:to="lab_pnw_SeniorUnsecuredNotesMaturing2016Through2045Member_FAC0536E926FFAA06B8FD90F5AA83140" xlink:type="arc"/>

<link:label id="lab_pnw_SaleLeasebackLessorNotesMember_E187390EE6945731414BD90F5AA80DC6_terseLabel_en-US" xlink:label="lab_pnw_SaleLeasebackLessorNotesMember_E187390EE6945731414BD90F5AA80DC6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde sale leaseback lessor notes </link:label>

<link:label id="lab_pnw_SaleLeasebackLessorNotesMember_E187390EE6945731414BD90F5AA80DC6_label_en-US" xlink:label="lab_pnw_SaleLeasebackLessorNotesMember_E187390EE6945731414BD90F5AA80DC6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Lessor Notes [Member] </link:label>

<link:label id="lab_pnw_SaleLeasebackLessorNotesMember_E187390EE6945731414BD90F5AA80DC6_documentation_en-US" xlink:label="lab_pnw_SaleLeasebackLessorNotesMember_E187390EE6945731414BD90F5AA80DC6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the sale leaseback lessor notes of Palo Verde, a variable interest entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SaleLeasebackLessorNotesMember" xlink:label="loc_pnw_SaleLeasebackLessorNotesMember_E187390EE6945731414BD90F5AA80DC6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SaleLeasebackLessorNotesMember_E187390EE6945731414BD90F5AA80DC6" xlink:to="lab_pnw_SaleLeasebackLessorNotesMember_E187390EE6945731414BD90F5AA80DC6" xlink:type="arc"/>

<link:label id="lab_pnw_TermLoanFacilityMaturingJune262018Member_4BDCF1C7BF2575E2F6AAD90F5AA83AB9_terseLabel_en-US" xlink:label="lab_pnw_TermLoanFacilityMaturingJune262018Member_4BDCF1C7BF2575E2F6AAD90F5AA83AB9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Term loan facility maturing June 26, 2018 </link:label>

<link:label id="lab_pnw_TermLoanFacilityMaturingJune262018Member_4BDCF1C7BF2575E2F6AAD90F5AA83AB9_label_en-US" xlink:label="lab_pnw_TermLoanFacilityMaturingJune262018Member_4BDCF1C7BF2575E2F6AAD90F5AA83AB9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Term Loan Facility Maturing June 26, 2018 [Member] </link:label>

<link:label id="lab_pnw_TermLoanFacilityMaturingJune262018Member_4BDCF1C7BF2575E2F6AAD90F5AA83AB9_documentation_en-US" xlink:label="lab_pnw_TermLoanFacilityMaturingJune262018Member_4BDCF1C7BF2575E2F6AAD90F5AA83AB9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Term Loan Facility Maturing June 26, 2018 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_TermLoanFacilityMaturingJune262018Member" xlink:label="loc_pnw_TermLoanFacilityMaturingJune262018Member_4BDCF1C7BF2575E2F6AAD90F5AA83AB9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_TermLoanFacilityMaturingJune262018Member_4BDCF1C7BF2575E2F6AAD90F5AA83AB9" xlink:to="lab_pnw_TermLoanFacilityMaturingJune262018Member_4BDCF1C7BF2575E2F6AAD90F5AA83AB9" xlink:type="arc"/>

<link:label id="lab_us-gaap_SecuredDebtMember_CA3B4E49751169D301DDD90F5AA80C0E_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebtMember_CA3B4E49751169D301DDD90F5AA80C0E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Term loan facility </link:label>

<link:label id="lab_us-gaap_SecuredDebtMember_CA3B4E49751169D301DDD90F5AA80C0E_label_en-US" xlink:label="lab_us-gaap_SecuredDebtMember_CA3B4E49751169D301DDD90F5AA80C0E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Secured Debt [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SecuredDebtMember" xlink:label="loc_us-gaap_SecuredDebtMember_CA3B4E49751169D301DDD90F5AA80C0E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebtMember_CA3B4E49751169D301DDD90F5AA80C0E" xlink:to="lab_us-gaap_SecuredDebtMember_CA3B4E49751169D301DDD90F5AA80C0E" xlink:type="arc"/>

<link:label id="lab_pnw_SeniorUnsecuredNotesMaturingThrough2016Member_2DCA328FAE1358CA5472D90F5AA88E37_terseLabel_en-US" xlink:label="lab_pnw_SeniorUnsecuredNotesMaturingThrough2016Member_2DCA328FAE1358CA5472D90F5AA88E37" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Senior unsecured notes maturing through 2015 </link:label>

<link:label id="lab_pnw_SeniorUnsecuredNotesMaturingThrough2016Member_2DCA328FAE1358CA5472D90F5AA88E37_label_en-US" xlink:label="lab_pnw_SeniorUnsecuredNotesMaturingThrough2016Member_2DCA328FAE1358CA5472D90F5AA88E37" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Senior Unsecured Notes Maturing Through 2016 [Member] </link:label>

<link:label id="lab_pnw_SeniorUnsecuredNotesMaturingThrough2016Member_2DCA328FAE1358CA5472D90F5AA88E37_documentation_en-US" xlink:label="lab_pnw_SeniorUnsecuredNotesMaturingThrough2016Member_2DCA328FAE1358CA5472D90F5AA88E37" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Senior Unsecured Notes Maturing Through 2016 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SeniorUnsecuredNotesMaturingThrough2016Member" xlink:label="loc_pnw_SeniorUnsecuredNotesMaturingThrough2016Member_2DCA328FAE1358CA5472D90F5AA88E37" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SeniorUnsecuredNotesMaturingThrough2016Member_2DCA328FAE1358CA5472D90F5AA88E37" xlink:to="lab_pnw_SeniorUnsecuredNotesMaturingThrough2016Member_2DCA328FAE1358CA5472D90F5AA88E37" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_91C9BC382704F72F7C73D90F5AA91060_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_91C9BC382704F72F7C73D90F5AA91060" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Gross long-term debt </link:label>

<link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_91C9BC382704F72F7C73D90F5AA91060_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_91C9BC382704F72F7C73D90F5AA91060" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Gross </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_91C9BC382704F72F7C73D90F5AA91060" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_91C9BC382704F72F7C73D90F5AA91060" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount_91C9BC382704F72F7C73D90F5AA91060" xlink:type="arc"/>

<link:label id="lab_pnw_SaleLeasebackLessorNotes_0D4B048E3F063F566340D90F5AA9C1FC_positiveTerseLabel_en-US" xlink:label="lab_pnw_SaleLeasebackLessorNotes_0D4B048E3F063F566340D90F5AA9C1FC" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde sale leaseback lessor notes </link:label>

<link:label id="lab_pnw_SaleLeasebackLessorNotes_0D4B048E3F063F566340D90F5AA9C1FC_label_en-US" xlink:label="lab_pnw_SaleLeasebackLessorNotes_0D4B048E3F063F566340D90F5AA9C1FC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Sale Leaseback Lessor Notes </link:label>

<link:label id="lab_pnw_SaleLeasebackLessorNotes_0D4B048E3F063F566340D90F5AA9C1FC_documentation_en-US" xlink:label="lab_pnw_SaleLeasebackLessorNotes_0D4B048E3F063F566340D90F5AA9C1FC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Variable Interest entity long term debt. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SaleLeasebackLessorNotes" xlink:label="loc_pnw_SaleLeasebackLessorNotes_0D4B048E3F063F566340D90F5AA9C1FC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SaleLeasebackLessorNotes_0D4B048E3F063F566340D90F5AA9C1FC" xlink:to="lab_pnw_SaleLeasebackLessorNotes_0D4B048E3F063F566340D90F5AA9C1FC" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongTermDebt_B320C0CFFED5A24E6481D90F5AA924EC_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt_B320C0CFFED5A24E6481D90F5AA924EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Term loan </link:label>

<link:label id="lab_us-gaap_LongTermDebt_B320C0CFFED5A24E6481D90F5AA924EC_label_en-US" xlink:label="lab_us-gaap_LongTermDebt_B320C0CFFED5A24E6481D90F5AA924EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_B320C0CFFED5A24E6481D90F5AA924EC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt_B320C0CFFED5A24E6481D90F5AA924EC" xlink:to="lab_us-gaap_LongTermDebt_B320C0CFFED5A24E6481D90F5AA924EC" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscount_0D272F77CCE86569AF1CD90F5AA9F6A5_negatedLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscount_0D272F77CCE86569AF1CD90F5AA9F6A5" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Unamortized discount </link:label>

<link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscount_0D272F77CCE86569AF1CD90F5AA9F6A5_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscount_0D272F77CCE86569AF1CD90F5AA9F6A5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Unamortized Discount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscount" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscount_0D272F77CCE86569AF1CD90F5AA9F6A5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedDiscount_0D272F77CCE86569AF1CD90F5AA9F6A5" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedDiscount_0D272F77CCE86569AF1CD90F5AA9F6A5" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtInstrumentUnamortizedPremium_DC0DDB876EF40649A4E1D90F5AA94B91_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedPremium_DC0DDB876EF40649A4E1D90F5AA94B91" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unamortized premium </link:label>

<link:label id="lab_us-gaap_DebtInstrumentUnamortizedPremium_DC0DDB876EF40649A4E1D90F5AA94B91_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedPremium_DC0DDB876EF40649A4E1D90F5AA94B91" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Unamortized Premium </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentUnamortizedPremium" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedPremium_DC0DDB876EF40649A4E1D90F5AA94B91" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedPremium_DC0DDB876EF40649A4E1D90F5AA94B91" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedPremium_DC0DDB876EF40649A4E1D90F5AA94B91" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtAndCapitalLeaseObligations_9908B557FA15CBAD64E1D90F5AA95467_totalLabel_en-US" xlink:label="lab_us-gaap_DebtAndCapitalLeaseObligations_9908B557FA15CBAD64E1D90F5AA95467" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total long-term debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtAndCapitalLeaseObligations" xlink:label="loc_us-gaap_DebtAndCapitalLeaseObligations_9908B557FA15CBAD64E1D90F5AA95467" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_A2BC2B1B1D25E705B27BD90F5AA9DD11_negatedLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_A2BC2B1B1D25E705B27BD90F5AA9DD11" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Less current maturities </link:label>

<link:label id="lab_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_A2BC2B1B1D25E705B27BD90F5AA9DD11_label_en-US" xlink:label="lab_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_A2BC2B1B1D25E705B27BD90F5AA9DD11" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt and Capital Lease Obligations, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_A2BC2B1B1D25E705B27BD90F5AA9DD11" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_A2BC2B1B1D25E705B27BD90F5AA9DD11" xlink:to="lab_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_A2BC2B1B1D25E705B27BD90F5AA9DD11" xlink:type="arc"/>

<link:label id="lab_pnw_TotalLongTermDebtLessCurrentMaturities_A00C54B4AAA0A0A461B1D90F5AA90BE8_terseLabel_en-US" xlink:label="lab_pnw_TotalLongTermDebtLessCurrentMaturities_A00C54B4AAA0A0A461B1D90F5AA90BE8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total long-term debt less current maturities </link:label>

<link:label id="lab_pnw_TotalLongTermDebtLessCurrentMaturities_A00C54B4AAA0A0A461B1D90F5AA90BE8_label_en-US" xlink:label="lab_pnw_TotalLongTermDebtLessCurrentMaturities_A00C54B4AAA0A0A461B1D90F5AA90BE8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Total Long Term Debt Less Current Maturities </link:label>

<link:label id="lab_pnw_TotalLongTermDebtLessCurrentMaturities_A00C54B4AAA0A0A461B1D90F5AA90BE8_documentation_en-US" xlink:label="lab_pnw_TotalLongTermDebtLessCurrentMaturities_A00C54B4AAA0A0A461B1D90F5AA90BE8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Sum of the carrying values as of the balance sheet date of total long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year or the normal operating cycle, if longer plus capital lease obligations due to be paid more than one year after the balance sheet date. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_TotalLongTermDebtLessCurrentMaturities" xlink:label="loc_pnw_TotalLongTermDebtLessCurrentMaturities_A00C54B4AAA0A0A461B1D90F5AA90BE8" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LongTermDebtNoncurrent_374EE777D2A3D2846BE5D90F5AA926AD_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtNoncurrent_374EE777D2A3D2846BE5D90F5AA926AD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Long-term debt less current maturities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="loc_us-gaap_LongTermDebtNoncurrent_374EE777D2A3D2846BE5D90F5AA926AD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtNoncurrent_374EE777D2A3D2846BE5D90F5AA926AD" xlink:to="lab_us-gaap_LongTermDebtNoncurrent_374EE777D2A3D2846BE5D90F5AA926AD" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongtermDebtWeightedAverageInterestRate_8BEF924130A3466F3497D90F5AA974B2_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtWeightedAverageInterestRate_8BEF924130A3466F3497D90F5AA974B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Weighted-average interest rate (as a percent) </link:label>

<link:label id="lab_us-gaap_LongtermDebtWeightedAverageInterestRate_8BEF924130A3466F3497D90F5AA974B2_label_en-US" xlink:label="lab_us-gaap_LongtermDebtWeightedAverageInterestRate_8BEF924130A3466F3497D90F5AA974B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Weighted Average Interest Rate </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:label="loc_us-gaap_LongtermDebtWeightedAverageInterestRate_8BEF924130A3466F3497D90F5AA974B2" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum_1BA03512CDE0768545A3D90F5AA96712_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum_1BA03512CDE0768545A3D90F5AA96712" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest Rates, low end of range (as a percent) </link:label>

<link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum_1BA03512CDE0768545A3D90F5AA96712_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum_1BA03512CDE0768545A3D90F5AA96712" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum_1BA03512CDE0768545A3D90F5AA96712" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMaximum_B1C4196BCF243BAFBE2CD90F5AA91016_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMaximum_B1C4196BCF243BAFBE2CD90F5AA91016" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest Rates, high end of range (as a percent) </link:label>

<link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMaximum_B1C4196BCF243BAFBE2CD90F5AA91016_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMaximum_B1C4196BCF243BAFBE2CD90F5AA91016" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMaximum" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMaximum_B1C4196BCF243BAFBE2CD90F5AA91016" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMaximum_B1C4196BCF243BAFBE2CD90F5AA91016" xlink:to="lab_us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMaximum_B1C4196BCF243BAFBE2CD90F5AA91016" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_D6E9E685386D7D86BA7ED90F5AA9F3B6_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_D6E9E685386D7D86BA7ED90F5AA9F3B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest rate (as a percent) </link:label>

<link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_D6E9E685386D7D86BA7ED90F5AA9F3B6_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_D6E9E685386D7D86BA7ED90F5AA9F3B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Interest Rate, Stated Percentage </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_D6E9E685386D7D86BA7ED90F5AA9F3B6" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract_77066C5E8579DB10EA20C382141708E5_label_en-US" xlink:label="lab_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract_77066C5E8579DB10EA20C382141708E5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Condensed Financial Information of Parent Company Only Disclosure [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xlink:label="loc_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract_77066C5E8579DB10EA20C382141708E5" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfCondensedFinancialStatementsTable_B705C85E4CF35928DB56C38214171538_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCondensedFinancialStatementsTable_B705C85E4CF35928DB56C38214171538" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Condensed Financial Statements [Table] </link:label>

<link:label id="lab_us-gaap_ScheduleOfCondensedFinancialStatementsTable_B705C85E4CF35928DB56C38214171538_label_en-US" xlink:label="lab_us-gaap_ScheduleOfCondensedFinancialStatementsTable_B705C85E4CF35928DB56C38214171538" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Condensed Financial Statements [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfCondensedFinancialStatementsTable" xlink:label="loc_us-gaap_ScheduleOfCondensedFinancialStatementsTable_B705C85E4CF35928DB56C38214171538" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfCondensedFinancialStatementsTable_B705C85E4CF35928DB56C38214171538" xlink:to="lab_us-gaap_ScheduleOfCondensedFinancialStatementsTable_B705C85E4CF35928DB56C38214171538" xlink:type="arc"/>

<link:label id="lab_us-gaap_CondensedFinancialStatementsCaptionsLineItems_CBCFA3AEFF1A4BE4862FC3821417E574_terseLabel_en-US" xlink:label="lab_us-gaap_CondensedFinancialStatementsCaptionsLineItems_CBCFA3AEFF1A4BE4862FC3821417E574" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> CONDENSED FINANCIAL STATEMENTS </link:label>

<link:label id="lab_us-gaap_CondensedFinancialStatementsCaptionsLineItems_CBCFA3AEFF1A4BE4862FC3821417E574_label_en-US" xlink:label="lab_us-gaap_CondensedFinancialStatementsCaptionsLineItems_CBCFA3AEFF1A4BE4862FC3821417E574" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Condensed Financial Statements, Captions [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CondensedFinancialStatementsCaptionsLineItems" xlink:label="loc_us-gaap_CondensedFinancialStatementsCaptionsLineItems_CBCFA3AEFF1A4BE4862FC3821417E574" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AssetsAbstract_414707A030FB8C015A28C3821417D441_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract_414707A030FB8C015A28C3821417D441" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_414707A030FB8C015A28C3821417D441" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AssetsCurrentAbstract_115E5A78C1A846786CCEC3821417E207_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetsCurrentAbstract_115E5A78C1A846786CCEC3821417E207" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Current assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="loc_us-gaap_AssetsCurrentAbstract_115E5A78C1A846786CCEC3821417E207" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AccountsReceivableGrossCurrent_46A9E483525E75FCE636C382141873CF_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsReceivableGrossCurrent_46A9E483525E75FCE636C382141873CF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accounts receivable </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableGrossCurrent" xlink:label="loc_us-gaap_AccountsReceivableGrossCurrent_46A9E483525E75FCE636C382141873CF" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DeferredTaxAssetsNetCurrent_A037658337E965E0B245C38214184921_positiveLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNetCurrent_A037658337E965E0B245C38214184921" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US"> Current deferred income taxes </link:label>

<link:label id="lab_us-gaap_DeferredTaxAssetsNetCurrent_A037658337E965E0B245C38214184921_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNetCurrent_A037658337E965E0B245C38214184921" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Net of Valuation Allowance, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:label="loc_us-gaap_DeferredTaxAssetsNetCurrent_A037658337E965E0B245C38214184921" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncomeTaxesReceivable_A85B36961D75D2321F7BC38214182BE7_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxesReceivable_A85B36961D75D2321F7BC38214182BE7" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Income tax receivable </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxesReceivable" xlink:label="loc_us-gaap_IncomeTaxesReceivable_A85B36961D75D2321F7BC38214182BE7" xlink:type="locator"/>

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<link:label id="lab_pnw_InvestmentsAndOtherAssetsAbstract_0DC5BE8872BDF9A59BA6C38214181C46_verboseLabel_en-US" xlink:label="lab_pnw_InvestmentsAndOtherAssetsAbstract_0DC5BE8872BDF9A59BA6C38214181C46" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Investments and other assets </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_InvestmentsAndOtherAssetsAbstract" xlink:label="loc_pnw_InvestmentsAndOtherAssetsAbstract_0DC5BE8872BDF9A59BA6C38214181C46" xlink:type="locator"/>

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<link:label id="lab_pnw_InvestmentInSubsidiaries_D5BCFB41E98380220C42C3821418BE08_terseLabel_en-US" xlink:label="lab_pnw_InvestmentInSubsidiaries_D5BCFB41E98380220C42C3821418BE08" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investments in subsidiaries </link:label>

<link:label id="lab_pnw_InvestmentInSubsidiaries_D5BCFB41E98380220C42C3821418BE08_label_en-US" xlink:label="lab_pnw_InvestmentInSubsidiaries_D5BCFB41E98380220C42C3821418BE08" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investment in Subsidiaries </link:label>

<link:label id="lab_pnw_InvestmentInSubsidiaries_D5BCFB41E98380220C42C3821418BE08_documentation_en-US" xlink:label="lab_pnw_InvestmentInSubsidiaries_D5BCFB41E98380220C42C3821418BE08" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents investments in subsidiaries. </link:label>

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<link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent_991E1BB3D5AA190187A5C3E7FE0EBFE7_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent_991E1BB3D5AA190187A5C3E7FE0EBFE7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred income taxes </link:label>

<link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent_991E1BB3D5AA190187A5C3E7FE0EBFE7_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent_991E1BB3D5AA190187A5C3E7FE0EBFE7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Net, Noncurrent </link:label>

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<link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_15690616356AC242B7E7C38214186FC0_verboseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_15690616356AC242B7E7C38214186FC0" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities and Equity </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_15690616356AC242B7E7C38214186FC0" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LiabilitiesCurrentAbstract_284F73ECAB36203FBDFAC38214187752_verboseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesCurrentAbstract_284F73ECAB36203FBDFAC38214187752" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Current liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="loc_us-gaap_LiabilitiesCurrentAbstract_284F73ECAB36203FBDFAC38214187752" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DeferredCreditsAndOtherLiabilitiesAbstract_F3EB060C7D0B621A2466C3821418F459_verboseLabel_en-US" xlink:label="lab_us-gaap_DeferredCreditsAndOtherLiabilitiesAbstract_F3EB060C7D0B621A2466C3821418F459" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Deferred credits and other </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCreditsAndOtherLiabilitiesAbstract" xlink:label="loc_us-gaap_DeferredCreditsAndOtherLiabilitiesAbstract_F3EB060C7D0B621A2466C3821418F459" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent_A328A777246289ADC087C382141E5817_verboseLabel_en-US" xlink:label="lab_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent_A328A777246289ADC087C382141E5817" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Pension liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent" xlink:label="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent_A328A777246289ADC087C382141E5817" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_EB7E422C51CD6FD76861C382141E66BC_verboseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_EB7E422C51CD6FD76861C382141E66BC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Common stock equity </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_EB7E422C51CD6FD76861C382141E66BC" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CommonStockValue_924E1217C3319D45A5FAC382141E6FC3_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue_924E1217C3319D45A5FAC382141E6FC3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common stock </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_us-gaap_CommonStockValue_924E1217C3319D45A5FAC382141E6FC3" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_D98C6358CC8176D80259C382141E82AB_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_D98C6358CC8176D80259C382141E82AB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated other comprehensive loss </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_D98C6358CC8176D80259C382141E82AB" xlink:type="locator"/>

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<link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_74DEDC363596C65B977CC382141ED659_totalLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit_74DEDC363596C65B977CC382141ED659" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Retained earnings </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_74DEDC363596C65B977CC382141ED659" xlink:type="locator"/>

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<link:label id="lab_us-gaap_MinorityInterest_6826D24F5CD0754E48EDC382141E7B83_positiveLabel_en-US" xlink:label="lab_us-gaap_MinorityInterest_6826D24F5CD0754E48EDC382141E7B83" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US"> Noncontrolling interests </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterest" xlink:label="loc_us-gaap_MinorityInterest_6826D24F5CD0754E48EDC382141E7B83" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest_6826D24F5CD0754E48EDC382141E7B83" xlink:to="lab_us-gaap_MinorityInterest_6826D24F5CD0754E48EDC382141E7B83" xlink:type="arc"/>

<link:label id="lab_us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_F4AC070EF30899C9B93BA7972B23FD69_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_F4AC070EF30899C9B93BA7972B23FD69" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amounts relating to the VIEs included in Condensed Consolidated Balance Sheets </link:label>

<link:label id="lab_us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_F4AC070EF30899C9B93BA7972B23FD69_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_F4AC070EF30899C9B93BA7972B23FD69" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity, Classification of Carrying Amount, Assets and Liabilities, Net [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:label="loc_us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_F4AC070EF30899C9B93BA7972B23FD69" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_F4AC070EF30899C9B93BA7972B23FD69" xlink:to="lab_us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_F4AC070EF30899C9B93BA7972B23FD69" xlink:type="arc"/>

<link:label id="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_7658B52AB616FF17DCDCA7972B235961_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_7658B52AB616FF17DCDCA7972B235961" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde sale leaseback, net of accumulated depreciation </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets" xlink:label="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_7658B52AB616FF17DCDCA7972B235961" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_7658B52AB616FF17DCDCA7972B235961" xlink:to="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_7658B52AB616FF17DCDCA7972B235961" xlink:type="arc"/>

<link:label id="lab_us-gaap_MinorityInterest_6EA83A2E685BAB2CD32FA7972B235862_verboseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterest_6EA83A2E685BAB2CD32FA7972B235862" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Equity - noncontrolling interests </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterest" xlink:label="loc_us-gaap_MinorityInterest_6EA83A2E685BAB2CD32FA7972B235862" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest_6EA83A2E685BAB2CD32FA7972B235862" xlink:to="lab_us-gaap_MinorityInterest_6EA83A2E685BAB2CD32FA7972B235862" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfNetBenefitCostsTableTextBlock_22A38A5B2C647D7885EFC67161B47E7A_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfNetBenefitCostsTableTextBlock_22A38A5B2C647D7885EFC67161B47E7A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of net periodic benefit costs and the portion of these costs charged to expense (including administrative costs and excluding amounts capitalized as overhead construction, billed to electric plant participants or charged or amortized to the regulatory asset) </link:label>

<link:label id="lab_us-gaap_ScheduleOfNetBenefitCostsTableTextBlock_22A38A5B2C647D7885EFC67161B47E7A_label_en-US" xlink:label="lab_us-gaap_ScheduleOfNetBenefitCostsTableTextBlock_22A38A5B2C647D7885EFC67161B47E7A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Net Benefit Costs [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfNetBenefitCostsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfNetBenefitCostsTableTextBlock_22A38A5B2C647D7885EFC67161B47E7A" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfNetFundedStatusTableTextBlock_F838477E101D2825C1E7C67161B4898E_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfNetFundedStatusTableTextBlock_F838477E101D2825C1E7C67161B4898E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of changes in the benefit obligations and funded status </link:label>

<link:label id="lab_us-gaap_ScheduleOfNetFundedStatusTableTextBlock_F838477E101D2825C1E7C67161B4898E_label_en-US" xlink:label="lab_us-gaap_ScheduleOfNetFundedStatusTableTextBlock_F838477E101D2825C1E7C67161B4898E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Net Funded Status [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfNetFundedStatusTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfNetFundedStatusTableTextBlock_F838477E101D2825C1E7C67161B4898E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock_64EA99EDF00260A44744C67161B4D692_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock_64EA99EDF00260A44744C67161B4D692" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of projected benefit obligation and the accumulated benefit obligation for pension plans with an accumulated obligation in excess of plan assets </link:label>

<link:label id="lab_us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock_64EA99EDF00260A44744C67161B4D692_label_en-US" xlink:label="lab_us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock_64EA99EDF00260A44744C67161B4D692" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock_64EA99EDF00260A44744C67161B4D692" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock_568595905820C0D047C9C67161B4B117_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock_568595905820C0D047C9C67161B4B117" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of amounts recognized on the Consolidated Balance Sheets </link:label>

<link:label id="lab_us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock_568595905820C0D047C9C67161B4B117_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock_568595905820C0D047C9C67161B4B117" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Amounts Recognized in Balance Sheet [Table Text Block] </link:label>

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<link:label id="lab_us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock_DA3048E1D70AC4EC4A14C67161B4F385_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock_DA3048E1D70AC4EC4A14C67161B4F385" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of accumulated other comprehensive loss </link:label>

<link:label id="lab_us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock_DA3048E1D70AC4EC4A14C67161B4F385_label_en-US" xlink:label="lab_us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock_DA3048E1D70AC4EC4A14C67161B4F385" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock_DA3048E1D70AC4EC4A14C67161B4F385" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock_DA3048E1D70AC4EC4A14C67161B4F385" xlink:to="lab_us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock_DA3048E1D70AC4EC4A14C67161B4F385" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock_98859D081D842F22C3B7C67161B4B4EC_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock_98859D081D842F22C3B7C67161B4B4EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of estimated amounts that will be amortized from accumulated other comprehensive loss and regulatory assets into net periodic benefit cost </link:label>

<link:label id="lab_us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock_98859D081D842F22C3B7C67161B4B4EC_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock_98859D081D842F22C3B7C67161B4B4EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock_98859D081D842F22C3B7C67161B4B4EC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock_98859D081D842F22C3B7C67161B4B4EC" xlink:to="lab_us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock_98859D081D842F22C3B7C67161B4B4EC" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock_CA8D60D455257FB25ED3C67161B446F9_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock_CA8D60D455257FB25ED3C67161B446F9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of weighted-average assumptions used for both the pension and other benefits to determine benefit obligations and net periodic benefit costs </link:label>

<link:label id="lab_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock_CA8D60D455257FB25ED3C67161B446F9_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock_CA8D60D455257FB25ED3C67161B446F9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Assumptions Used [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAssumptionsUsedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock_CA8D60D455257FB25ED3C67161B446F9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock_CA8D60D455257FB25ED3C67161B446F9" xlink:to="lab_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock_CA8D60D455257FB25ED3C67161B446F9" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesTableTextBlock_CDC2166A43951CA84126C67161B476D1_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesTableTextBlock_CDC2166A43951CA84126C67161B476D1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of effects of one percentage point change in the assumed initial and ultimate health care cost trend rates </link:label>

<link:label id="lab_us-gaap_ScheduleOfEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesTableTextBlock_CDC2166A43951CA84126C67161B476D1_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesTableTextBlock_CDC2166A43951CA84126C67161B476D1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesTableTextBlock_CDC2166A43951CA84126C67161B476D1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesTableTextBlock_CDC2166A43951CA84126C67161B476D1" xlink:to="lab_us-gaap_ScheduleOfEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesTableTextBlock_CDC2166A43951CA84126C67161B476D1" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock_EE774A119E5A1663621DC67161B4B2A2_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock_EE774A119E5A1663621DC67161B4B2A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of fair value of pension plan and other postretirement benefit plan assets, by asset category </link:label>

<link:label id="lab_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock_EE774A119E5A1663621DC67161B4B2A2_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock_EE774A119E5A1663621DC67161B4B2A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Allocation of Plan Assets [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock_EE774A119E5A1663621DC67161B4B2A2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock_EE774A119E5A1663621DC67161B4B2A2" xlink:to="lab_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock_EE774A119E5A1663621DC67161B4B2A2" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock_84C0544BE2115DB685F9C67161B4650A_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock_84C0544BE2115DB685F9C67161B4650A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of changes in fair value for assets that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3) </link:label>

<link:label id="lab_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock_84C0544BE2115DB685F9C67161B4650A_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock_84C0544BE2115DB685F9C67161B4650A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock_84C0544BE2115DB685F9C67161B4650A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock_84C0544BE2115DB685F9C67161B4650A" xlink:to="lab_us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock_84C0544BE2115DB685F9C67161B4650A" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock_D2D75AA4F08DBE5B89E5C67161B48FEF_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock_D2D75AA4F08DBE5B89E5C67161B48FEF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of estimated future benefit payments, which reflect estimated future employee service, for the next five years and the succeeding five years thereafter </link:label>

<link:label id="lab_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock_D2D75AA4F08DBE5B89E5C67161B48FEF_label_en-US" xlink:label="lab_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock_D2D75AA4F08DBE5B89E5C67161B48FEF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Expected Benefit Payments [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock_D2D75AA4F08DBE5B89E5C67161B48FEF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock_D2D75AA4F08DBE5B89E5C67161B48FEF" xlink:to="lab_us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock_D2D75AA4F08DBE5B89E5C67161B48FEF" xlink:type="arc"/>

<link:label id="lab_pnw_ScheduleOfRegulatoryMattersTable_5F8E2405734417DCE137CE3D4237FF74_terseLabel_en-US" xlink:label="lab_pnw_ScheduleOfRegulatoryMattersTable_5F8E2405734417DCE137CE3D4237FF74" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Regulatory Matters [Table] </link:label>

<link:label id="lab_pnw_ScheduleOfRegulatoryMattersTable_5F8E2405734417DCE137CE3D4237FF74_label_en-US" xlink:label="lab_pnw_ScheduleOfRegulatoryMattersTable_5F8E2405734417DCE137CE3D4237FF74" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Regulatory Matters [Table] </link:label>

<link:label id="lab_pnw_ScheduleOfRegulatoryMattersTable_5F8E2405734417DCE137CE3D4237FF74_documentation_en-US" xlink:label="lab_pnw_ScheduleOfRegulatoryMattersTable_5F8E2405734417DCE137CE3D4237FF74" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Schedule providing information about regulatory matters relating to public utilities. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ScheduleOfRegulatoryMattersTable" xlink:label="loc_pnw_ScheduleOfRegulatoryMattersTable_5F8E2405734417DCE137CE3D4237FF74" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ScheduleOfRegulatoryMattersTable_5F8E2405734417DCE137CE3D4237FF74" xlink:to="lab_pnw_ScheduleOfRegulatoryMattersTable_5F8E2405734417DCE137CE3D4237FF74" xlink:type="arc"/>

<link:label id="lab_pnw_PublicUtilityProgramAxis_9F15ED07C5B45A62ECC1CE3D423DBF84_terseLabel_en-US" xlink:label="lab_pnw_PublicUtilityProgramAxis_9F15ED07C5B45A62ECC1CE3D423DBF84" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Public Utility, Program [Axis] </link:label>

<link:label id="lab_pnw_PublicUtilityProgramAxis_9F15ED07C5B45A62ECC1CE3D423DBF84_label_en-US" xlink:label="lab_pnw_PublicUtilityProgramAxis_9F15ED07C5B45A62ECC1CE3D423DBF84" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utility, Program [Axis] </link:label>

<link:label id="lab_pnw_PublicUtilityProgramAxis_9F15ED07C5B45A62ECC1CE3D423DBF84_documentation_en-US" xlink:label="lab_pnw_PublicUtilityProgramAxis_9F15ED07C5B45A62ECC1CE3D423DBF84" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Public Utility, Program [Axis] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PublicUtilityProgramAxis" xlink:label="loc_pnw_PublicUtilityProgramAxis_9F15ED07C5B45A62ECC1CE3D423DBF84" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PublicUtilityProgramAxis_9F15ED07C5B45A62ECC1CE3D423DBF84" xlink:to="lab_pnw_PublicUtilityProgramAxis_9F15ED07C5B45A62ECC1CE3D423DBF84" xlink:type="arc"/>

<link:label id="lab_pnw_PublicUtilityProgramDomain_428D9DFE24878579F55ACE3D423D5924_terseLabel_en-US" xlink:label="lab_pnw_PublicUtilityProgramDomain_428D9DFE24878579F55ACE3D423D5924" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Public Utility, Program [Domain] </link:label>

<link:label id="lab_pnw_PublicUtilityProgramDomain_428D9DFE24878579F55ACE3D423D5924_label_en-US" xlink:label="lab_pnw_PublicUtilityProgramDomain_428D9DFE24878579F55ACE3D423D5924" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utility, Program [Domain] </link:label>

<link:label id="lab_pnw_PublicUtilityProgramDomain_428D9DFE24878579F55ACE3D423D5924_documentation_en-US" xlink:label="lab_pnw_PublicUtilityProgramDomain_428D9DFE24878579F55ACE3D423D5924" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> [Domain] for Public Utility, Program [Axis] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PublicUtilityProgramDomain" xlink:label="loc_pnw_PublicUtilityProgramDomain_428D9DFE24878579F55ACE3D423D5924" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PublicUtilityProgramDomain_428D9DFE24878579F55ACE3D423D5924" xlink:to="lab_pnw_PublicUtilityProgramDomain_428D9DFE24878579F55ACE3D423D5924" xlink:type="arc"/>

<link:label id="lab_pnw_AZSunProgramMember_F608F6D1152161EC8884CE3D423D4434_terseLabel_en-US" xlink:label="lab_pnw_AZSunProgramMember_F608F6D1152161EC8884CE3D423D4434" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> AZ Sun Program </link:label>

<link:label id="lab_pnw_AZSunProgramMember_F608F6D1152161EC8884CE3D423D4434_label_en-US" xlink:label="lab_pnw_AZSunProgramMember_F608F6D1152161EC8884CE3D423D4434" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> AZ Sun Program [Member] </link:label>

<link:label id="lab_pnw_AZSunProgramMember_F608F6D1152161EC8884CE3D423D4434_documentation_en-US" xlink:label="lab_pnw_AZSunProgramMember_F608F6D1152161EC8884CE3D423D4434" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> AZ Sun Program [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AZSunProgramMember" xlink:label="loc_pnw_AZSunProgramMember_F608F6D1152161EC8884CE3D423D4434" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AZSunProgramMember_F608F6D1152161EC8884CE3D423D4434" xlink:to="lab_pnw_AZSunProgramMember_F608F6D1152161EC8884CE3D423D4434" xlink:type="arc"/>

<link:label id="lab_pnw_AlternativetoAZSunProgramMember_EDC143A6BCB2CADA90E2CE3D423D186A_terseLabel_en-US" xlink:label="lab_pnw_AlternativetoAZSunProgramMember_EDC143A6BCB2CADA90E2CE3D423D186A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Alternative to AZ Sun Program </link:label>

<link:label id="lab_pnw_AlternativetoAZSunProgramMember_EDC143A6BCB2CADA90E2CE3D423D186A_label_en-US" xlink:label="lab_pnw_AlternativetoAZSunProgramMember_EDC143A6BCB2CADA90E2CE3D423D186A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Alternative to AZ Sun Program [Member] </link:label>

<link:label id="lab_pnw_AlternativetoAZSunProgramMember_EDC143A6BCB2CADA90E2CE3D423D186A_documentation_en-US" xlink:label="lab_pnw_AlternativetoAZSunProgramMember_EDC143A6BCB2CADA90E2CE3D423D186A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Alternative to AZ Sun Program [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AlternativetoAZSunProgramMember" xlink:label="loc_pnw_AlternativetoAZSunProgramMember_EDC143A6BCB2CADA90E2CE3D423D186A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AlternativetoAZSunProgramMember_EDC143A6BCB2CADA90E2CE3D423D186A" xlink:to="lab_pnw_AlternativetoAZSunProgramMember_EDC143A6BCB2CADA90E2CE3D423D186A" xlink:type="arc"/>

<link:label id="lab_pnw_AlternativetoAZSunProgramPhase1Member_6F87FA3AE54925088B22CE3D423DA33F_terseLabel_en-US" xlink:label="lab_pnw_AlternativetoAZSunProgramPhase1Member_6F87FA3AE54925088B22CE3D423DA33F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Alternative to AZ Sun Program, Phase 1 </link:label>

<link:label id="lab_pnw_AlternativetoAZSunProgramPhase1Member_6F87FA3AE54925088B22CE3D423DA33F_label_en-US" xlink:label="lab_pnw_AlternativetoAZSunProgramPhase1Member_6F87FA3AE54925088B22CE3D423DA33F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Alternative to AZ Sun Program, Phase 1 [Member] </link:label>

<link:label id="lab_pnw_AlternativetoAZSunProgramPhase1Member_6F87FA3AE54925088B22CE3D423DA33F_documentation_en-US" xlink:label="lab_pnw_AlternativetoAZSunProgramPhase1Member_6F87FA3AE54925088B22CE3D423DA33F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Alternative to AZ Sun Program, Phase 1 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AlternativetoAZSunProgramPhase1Member" xlink:label="loc_pnw_AlternativetoAZSunProgramPhase1Member_6F87FA3AE54925088B22CE3D423DA33F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AlternativetoAZSunProgramPhase1Member_6F87FA3AE54925088B22CE3D423DA33F" xlink:to="lab_pnw_AlternativetoAZSunProgramPhase1Member_6F87FA3AE54925088B22CE3D423DA33F" xlink:type="arc"/>

<link:label id="lab_pnw_AlternativetoAZSunProgramPhase2Member_A72DCEF277B5ED55E6EACE3D423D47E8_terseLabel_en-US" xlink:label="lab_pnw_AlternativetoAZSunProgramPhase2Member_A72DCEF277B5ED55E6EACE3D423D47E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Alternative to AZ Sun Program Phase 2 </link:label>

<link:label id="lab_pnw_AlternativetoAZSunProgramPhase2Member_A72DCEF277B5ED55E6EACE3D423D47E8_label_en-US" xlink:label="lab_pnw_AlternativetoAZSunProgramPhase2Member_A72DCEF277B5ED55E6EACE3D423D47E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Alternative to AZ Sun Program Phase 2 [Member] </link:label>

<link:label id="lab_pnw_AlternativetoAZSunProgramPhase2Member_A72DCEF277B5ED55E6EACE3D423D47E8_documentation_en-US" xlink:label="lab_pnw_AlternativetoAZSunProgramPhase2Member_A72DCEF277B5ED55E6EACE3D423D47E8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Alternative to AZ Sun Program Phase 2 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AlternativetoAZSunProgramPhase2Member" xlink:label="loc_pnw_AlternativetoAZSunProgramPhase2Member_A72DCEF277B5ED55E6EACE3D423D47E8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AlternativetoAZSunProgramPhase2Member_A72DCEF277B5ED55E6EACE3D423D47E8" xlink:to="lab_pnw_AlternativetoAZSunProgramPhase2Member_A72DCEF277B5ED55E6EACE3D423D47E8" xlink:type="arc"/>

<link:label id="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersAxis_222B7A79B6C6826C64FBCE3D423DB91B_terseLabel_en-US" xlink:label="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersAxis_222B7A79B6C6826C64FBCE3D423DB91B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Public Utilities Regulatory, Regulatory Matters [Axis] </link:label>

<link:label id="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersAxis_222B7A79B6C6826C64FBCE3D423DB91B_label_en-US" xlink:label="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersAxis_222B7A79B6C6826C64FBCE3D423DB91B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities Regulatory, Regulatory Matters [Axis] </link:label>

<link:label id="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersAxis_222B7A79B6C6826C64FBCE3D423DB91B_documentation_en-US" xlink:label="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersAxis_222B7A79B6C6826C64FBCE3D423DB91B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information by various regulatory matters. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PublicUtilitiesRegulatoryRegulatoryMattersAxis" xlink:label="loc_pnw_PublicUtilitiesRegulatoryRegulatoryMattersAxis_222B7A79B6C6826C64FBCE3D423DB91B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PublicUtilitiesRegulatoryRegulatoryMattersAxis_222B7A79B6C6826C64FBCE3D423DB91B" xlink:to="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersAxis_222B7A79B6C6826C64FBCE3D423DB91B" xlink:type="arc"/>

<link:label id="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersDomain_F916904A22B943C9729BCE3D423DBA07_terseLabel_en-US" xlink:label="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersDomain_F916904A22B943C9729BCE3D423DBA07" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Public Utilities Regulatory, Regulatory Matters [Domain] </link:label>

<link:label id="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersDomain_F916904A22B943C9729BCE3D423DBA07_label_en-US" xlink:label="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersDomain_F916904A22B943C9729BCE3D423DBA07" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities Regulatory, Regulatory Matters [Domain] </link:label>

<link:label id="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersDomain_F916904A22B943C9729BCE3D423DBA07_documentation_en-US" xlink:label="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersDomain_F916904A22B943C9729BCE3D423DBA07" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents various regulatory matters. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PublicUtilitiesRegulatoryRegulatoryMattersDomain" xlink:label="loc_pnw_PublicUtilitiesRegulatoryRegulatoryMattersDomain_F916904A22B943C9729BCE3D423DBA07" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PublicUtilitiesRegulatoryRegulatoryMattersDomain_F916904A22B943C9729BCE3D423DBA07" xlink:to="lab_pnw_PublicUtilitiesRegulatoryRegulatoryMattersDomain_F916904A22B943C9729BCE3D423DBA07" xlink:type="arc"/>

<link:label id="lab_pnw_FilingWithArizonaCorporationCommissionMember_D6224E0E887004B86E11CE3D423DAE2B_terseLabel_en-US" xlink:label="lab_pnw_FilingWithArizonaCorporationCommissionMember_D6224E0E887004B86E11CE3D423DAE2B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Filing with the Arizona Corporation Commission </link:label>

<link:label id="lab_pnw_FilingWithArizonaCorporationCommissionMember_D6224E0E887004B86E11CE3D423DAE2B_label_en-US" xlink:label="lab_pnw_FilingWithArizonaCorporationCommissionMember_D6224E0E887004B86E11CE3D423DAE2B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Filing with Arizona Corporation Commission [Member] </link:label>

<link:label id="lab_pnw_FilingWithArizonaCorporationCommissionMember_D6224E0E887004B86E11CE3D423DAE2B_documentation_en-US" xlink:label="lab_pnw_FilingWithArizonaCorporationCommissionMember_D6224E0E887004B86E11CE3D423DAE2B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the filing with the Arizona Corporation Commission. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FilingWithArizonaCorporationCommissionMember" xlink:label="loc_pnw_FilingWithArizonaCorporationCommissionMember_D6224E0E887004B86E11CE3D423DAE2B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FilingWithArizonaCorporationCommissionMember_D6224E0E887004B86E11CE3D423DAE2B" xlink:to="lab_pnw_FilingWithArizonaCorporationCommissionMember_D6224E0E887004B86E11CE3D423DAE2B" xlink:type="arc"/>

<link:label id="lab_pnw_CostRecoveryMechanismsMember_84EC87A54D9606F41153CE3D423E2E4E_terseLabel_en-US" xlink:label="lab_pnw_CostRecoveryMechanismsMember_84EC87A54D9606F41153CE3D423E2E4E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cost Recovery Mechanisms </link:label>

<link:label id="lab_pnw_CostRecoveryMechanismsMember_84EC87A54D9606F41153CE3D423E2E4E_label_en-US" xlink:label="lab_pnw_CostRecoveryMechanismsMember_84EC87A54D9606F41153CE3D423E2E4E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cost Recovery Mechanisms [Member] </link:label>

<link:label id="lab_pnw_CostRecoveryMechanismsMember_84EC87A54D9606F41153CE3D423E2E4E_documentation_en-US" xlink:label="lab_pnw_CostRecoveryMechanismsMember_84EC87A54D9606F41153CE3D423E2E4E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the cost recovery mechanisms. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_CostRecoveryMechanismsMember" xlink:label="loc_pnw_CostRecoveryMechanismsMember_84EC87A54D9606F41153CE3D423E2E4E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_CostRecoveryMechanismsMember_84EC87A54D9606F41153CE3D423E2E4E" xlink:to="lab_pnw_CostRecoveryMechanismsMember_84EC87A54D9606F41153CE3D423E2E4E" xlink:type="arc"/>

<link:label id="lab_pnw_UnitedStatesFederalEnergyRegulatoryCommissionMember_945D9914E3D76714A0D7CE3D423E9E77_terseLabel_en-US" xlink:label="lab_pnw_UnitedStatesFederalEnergyRegulatoryCommissionMember_945D9914E3D76714A0D7CE3D423E9E77" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> FERC </link:label>

<link:label id="lab_pnw_UnitedStatesFederalEnergyRegulatoryCommissionMember_945D9914E3D76714A0D7CE3D423E9E77_label_en-US" xlink:label="lab_pnw_UnitedStatesFederalEnergyRegulatoryCommissionMember_945D9914E3D76714A0D7CE3D423E9E77" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> United States Federal Energy Regulatory Commission [Member] </link:label>

<link:label id="lab_pnw_UnitedStatesFederalEnergyRegulatoryCommissionMember_945D9914E3D76714A0D7CE3D423E9E77_documentation_en-US" xlink:label="lab_pnw_UnitedStatesFederalEnergyRegulatoryCommissionMember_945D9914E3D76714A0D7CE3D423E9E77" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the Federal Energy Regulatory Commission (FERC). </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_UnitedStatesFederalEnergyRegulatoryCommissionMember" xlink:label="loc_pnw_UnitedStatesFederalEnergyRegulatoryCommissionMember_945D9914E3D76714A0D7CE3D423E9E77" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_UnitedStatesFederalEnergyRegulatoryCommissionMember_945D9914E3D76714A0D7CE3D423E9E77" xlink:to="lab_pnw_UnitedStatesFederalEnergyRegulatoryCommissionMember_945D9914E3D76714A0D7CE3D423E9E77" xlink:type="arc"/>

<link:label id="lab_pnw_YearOfRateCasesAxis_20ABAD934E0CB0A30277CE3D423ECC14_terseLabel_en-US" xlink:label="lab_pnw_YearOfRateCasesAxis_20ABAD934E0CB0A30277CE3D423ECC14" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Year of Rate Cases [Axis] </link:label>

<link:label id="lab_pnw_YearOfRateCasesAxis_20ABAD934E0CB0A30277CE3D423ECC14_label_en-US" xlink:label="lab_pnw_YearOfRateCasesAxis_20ABAD934E0CB0A30277CE3D423ECC14" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Year of Rate Cases [Axis] </link:label>

<link:label id="lab_pnw_YearOfRateCasesAxis_20ABAD934E0CB0A30277CE3D423ECC14_documentation_en-US" xlink:label="lab_pnw_YearOfRateCasesAxis_20ABAD934E0CB0A30277CE3D423ECC14" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Year for which the rate cases are filed. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_YearOfRateCasesAxis" xlink:label="loc_pnw_YearOfRateCasesAxis_20ABAD934E0CB0A30277CE3D423ECC14" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_YearOfRateCasesAxis_20ABAD934E0CB0A30277CE3D423ECC14" xlink:to="lab_pnw_YearOfRateCasesAxis_20ABAD934E0CB0A30277CE3D423ECC14" xlink:type="arc"/>

<link:label id="lab_pnw_YearOfCasesDomain_49FA25C68DD7F7577D35CE3D423EDD5E_terseLabel_en-US" xlink:label="lab_pnw_YearOfCasesDomain_49FA25C68DD7F7577D35CE3D423EDD5E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Year of Cases [Domain] </link:label>

<link:label id="lab_pnw_YearOfCasesDomain_49FA25C68DD7F7577D35CE3D423EDD5E_label_en-US" xlink:label="lab_pnw_YearOfCasesDomain_49FA25C68DD7F7577D35CE3D423EDD5E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Year of Cases [Domain] </link:label>

<link:label id="lab_pnw_YearOfCasesDomain_49FA25C68DD7F7577D35CE3D423EDD5E_documentation_en-US" xlink:label="lab_pnw_YearOfCasesDomain_49FA25C68DD7F7577D35CE3D423EDD5E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Year for which the rate cases are filed. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_YearOfCasesDomain" xlink:label="loc_pnw_YearOfCasesDomain_49FA25C68DD7F7577D35CE3D423EDD5E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_YearOfCasesDomain_49FA25C68DD7F7577D35CE3D423EDD5E" xlink:to="lab_pnw_YearOfCasesDomain_49FA25C68DD7F7577D35CE3D423EDD5E" xlink:type="arc"/>

<link:label id="lab_pnw_RetailRateCaseFilingMember_A1D797788B1BF267D84ECE3D423EB66E_terseLabel_en-US" xlink:label="lab_pnw_RetailRateCaseFilingMember_A1D797788B1BF267D84ECE3D423EB66E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Retail rate case filing </link:label>

<link:label id="lab_pnw_RetailRateCaseFilingMember_A1D797788B1BF267D84ECE3D423EB66E_label_en-US" xlink:label="lab_pnw_RetailRateCaseFilingMember_A1D797788B1BF267D84ECE3D423EB66E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Retail Rate Case Filing [Member] </link:label>

<link:label id="lab_pnw_RetailRateCaseFilingMember_A1D797788B1BF267D84ECE3D423EB66E_documentation_en-US" xlink:label="lab_pnw_RetailRateCaseFilingMember_A1D797788B1BF267D84ECE3D423EB66E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the general retail rate case filing. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RetailRateCaseFilingMember" xlink:label="loc_pnw_RetailRateCaseFilingMember_A1D797788B1BF267D84ECE3D423EB66E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RetailRateCaseFilingMember_A1D797788B1BF267D84ECE3D423EB66E" xlink:to="lab_pnw_RetailRateCaseFilingMember_A1D797788B1BF267D84ECE3D423EB66E" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesRegulatoryProceedingAxis_1F59AE378D35CFB31F6ACE3D423EB04B_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesRegulatoryProceedingAxis_1F59AE378D35CFB31F6ACE3D423EB04B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Public Utilities, Regulatory Proceeding [Axis] </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesRegulatoryProceedingAxis_1F59AE378D35CFB31F6ACE3D423EB04B_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesRegulatoryProceedingAxis_1F59AE378D35CFB31F6ACE3D423EB04B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Regulatory Proceeding [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesRegulatoryProceedingAxis" xlink:label="loc_us-gaap_PublicUtilitiesRegulatoryProceedingAxis_1F59AE378D35CFB31F6ACE3D423EB04B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesRegulatoryProceedingAxis_1F59AE378D35CFB31F6ACE3D423EB04B" xlink:to="lab_us-gaap_PublicUtilitiesRegulatoryProceedingAxis_1F59AE378D35CFB31F6ACE3D423EB04B" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesRegulatoryProceedingDomain_FDCD597CB9938F14DE3CCE3D423E754A_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesRegulatoryProceedingDomain_FDCD597CB9938F14DE3CCE3D423E754A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Public Utilities, Regulatory Proceeding [Domain] </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesRegulatoryProceedingDomain_FDCD597CB9938F14DE3CCE3D423E754A_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesRegulatoryProceedingDomain_FDCD597CB9938F14DE3CCE3D423E754A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Regulatory Proceeding [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesRegulatoryProceedingDomain" xlink:label="loc_us-gaap_PublicUtilitiesRegulatoryProceedingDomain_FDCD597CB9938F14DE3CCE3D423E754A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesRegulatoryProceedingDomain_FDCD597CB9938F14DE3CCE3D423E754A" xlink:to="lab_us-gaap_PublicUtilitiesRegulatoryProceedingDomain_FDCD597CB9938F14DE3CCE3D423E754A" xlink:type="arc"/>

<link:label id="lab_pnw_DemandSideManagementAdjustorCharge2013Member_E1EB607281054BF8C1D2CE3D423E843D_terseLabel_en-US" xlink:label="lab_pnw_DemandSideManagementAdjustorCharge2013Member_E1EB607281054BF8C1D2CE3D423E843D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2013 DSMAC </link:label>

<link:label id="lab_pnw_DemandSideManagementAdjustorCharge2013Member_E1EB607281054BF8C1D2CE3D423E843D_label_en-US" xlink:label="lab_pnw_DemandSideManagementAdjustorCharge2013Member_E1EB607281054BF8C1D2CE3D423E843D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Demand Side Management Adjustor Charge 2013 [Member] </link:label>

<link:label id="lab_pnw_DemandSideManagementAdjustorCharge2013Member_E1EB607281054BF8C1D2CE3D423E843D_documentation_en-US" xlink:label="lab_pnw_DemandSideManagementAdjustorCharge2013Member_E1EB607281054BF8C1D2CE3D423E843D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the DSMAC program which permits a surcharge for 2013 as part of customer bills to recover approved amounts for use in energy efficiency projects. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DemandSideManagementAdjustorCharge2013Member" xlink:label="loc_pnw_DemandSideManagementAdjustorCharge2013Member_E1EB607281054BF8C1D2CE3D423E843D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DemandSideManagementAdjustorCharge2013Member_E1EB607281054BF8C1D2CE3D423E843D" xlink:to="lab_pnw_DemandSideManagementAdjustorCharge2013Member_E1EB607281054BF8C1D2CE3D423E843D" xlink:type="arc"/>

<link:label id="lab_pnw_DemandSideManagementAdjustorCharge2014Member_661492A30D63513CB394CE3D423E6A12_terseLabel_en-US" xlink:label="lab_pnw_DemandSideManagementAdjustorCharge2014Member_661492A30D63513CB394CE3D423E6A12" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2014 DSMAC </link:label>

<link:label id="lab_pnw_DemandSideManagementAdjustorCharge2014Member_661492A30D63513CB394CE3D423E6A12_label_en-US" xlink:label="lab_pnw_DemandSideManagementAdjustorCharge2014Member_661492A30D63513CB394CE3D423E6A12" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Demand Side Management Adjustor Charge 2014 [Member] </link:label>

<link:label id="lab_pnw_DemandSideManagementAdjustorCharge2014Member_661492A30D63513CB394CE3D423E6A12_documentation_en-US" xlink:label="lab_pnw_DemandSideManagementAdjustorCharge2014Member_661492A30D63513CB394CE3D423E6A12" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the DSMAC program which permits a surcharge for 2014 as part of customer bills to recover approved amounts for use in energy efficiency projects. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DemandSideManagementAdjustorCharge2014Member" xlink:label="loc_pnw_DemandSideManagementAdjustorCharge2014Member_661492A30D63513CB394CE3D423E6A12" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DemandSideManagementAdjustorCharge2014Member_661492A30D63513CB394CE3D423E6A12" xlink:to="lab_pnw_DemandSideManagementAdjustorCharge2014Member_661492A30D63513CB394CE3D423E6A12" xlink:type="arc"/>

<link:label id="lab_pnw_DemandSideManagementAdjustorCharge2015Member_301CFB1B616BB6A97528CE3D423E275D_terseLabel_en-US" xlink:label="lab_pnw_DemandSideManagementAdjustorCharge2015Member_301CFB1B616BB6A97528CE3D423E275D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2015 DSMAC </link:label>

<link:label id="lab_pnw_DemandSideManagementAdjustorCharge2015Member_301CFB1B616BB6A97528CE3D423E275D_label_en-US" xlink:label="lab_pnw_DemandSideManagementAdjustorCharge2015Member_301CFB1B616BB6A97528CE3D423E275D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Demand Side Management Adjustor Charge 2015 [Member] </link:label>

<link:label id="lab_pnw_DemandSideManagementAdjustorCharge2015Member_301CFB1B616BB6A97528CE3D423E275D_documentation_en-US" xlink:label="lab_pnw_DemandSideManagementAdjustorCharge2015Member_301CFB1B616BB6A97528CE3D423E275D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Demand Side Management Adjustor Charge 2015 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DemandSideManagementAdjustorCharge2015Member" xlink:label="loc_pnw_DemandSideManagementAdjustorCharge2015Member_301CFB1B616BB6A97528CE3D423E275D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DemandSideManagementAdjustorCharge2015Member_301CFB1B616BB6A97528CE3D423E275D" xlink:to="lab_pnw_DemandSideManagementAdjustorCharge2015Member_301CFB1B616BB6A97528CE3D423E275D" xlink:type="arc"/>

<link:label id="lab_pnw_DemandSideManagementAdjustorCharge2016Member_C2D679D4DAD9F7533BD8CE3D423E0908_terseLabel_en-US" xlink:label="lab_pnw_DemandSideManagementAdjustorCharge2016Member_C2D679D4DAD9F7533BD8CE3D423E0908" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2016 DSMAC </link:label>

<link:label id="lab_pnw_DemandSideManagementAdjustorCharge2016Member_C2D679D4DAD9F7533BD8CE3D423E0908_label_en-US" xlink:label="lab_pnw_DemandSideManagementAdjustorCharge2016Member_C2D679D4DAD9F7533BD8CE3D423E0908" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Demand Side Management Adjustor Charge 2016 [Member] </link:label>

<link:label id="lab_pnw_DemandSideManagementAdjustorCharge2016Member_C2D679D4DAD9F7533BD8CE3D423E0908_documentation_en-US" xlink:label="lab_pnw_DemandSideManagementAdjustorCharge2016Member_C2D679D4DAD9F7533BD8CE3D423E0908" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Demand Side Management Adjustor Charge 2016 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DemandSideManagementAdjustorCharge2016Member" xlink:label="loc_pnw_DemandSideManagementAdjustorCharge2016Member_C2D679D4DAD9F7533BD8CE3D423E0908" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DemandSideManagementAdjustorCharge2016Member_C2D679D4DAD9F7533BD8CE3D423E0908" xlink:to="lab_pnw_DemandSideManagementAdjustorCharge2016Member_C2D679D4DAD9F7533BD8CE3D423E0908" xlink:type="arc"/>

<link:label id="lab_pnw_ElectricEnergyEfficiencyStandardMember_0A16E3AA9E8F22BBFE9FCE3D423E65CE_terseLabel_en-US" xlink:label="lab_pnw_ElectricEnergyEfficiencyStandardMember_0A16E3AA9E8F22BBFE9FCE3D423E65CE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Electric Energy Efficiency Standard </link:label>

<link:label id="lab_pnw_ElectricEnergyEfficiencyStandardMember_0A16E3AA9E8F22BBFE9FCE3D423E65CE_label_en-US" xlink:label="lab_pnw_ElectricEnergyEfficiencyStandardMember_0A16E3AA9E8F22BBFE9FCE3D423E65CE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Electric Energy Efficiency Standard [Member] </link:label>

<link:label id="lab_pnw_ElectricEnergyEfficiencyStandardMember_0A16E3AA9E8F22BBFE9FCE3D423E65CE_documentation_en-US" xlink:label="lab_pnw_ElectricEnergyEfficiencyStandardMember_0A16E3AA9E8F22BBFE9FCE3D423E65CE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Electric Energy Efficiency Standard [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ElectricEnergyEfficiencyStandardMember" xlink:label="loc_pnw_ElectricEnergyEfficiencyStandardMember_0A16E3AA9E8F22BBFE9FCE3D423E65CE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ElectricEnergyEfficiencyStandardMember_0A16E3AA9E8F22BBFE9FCE3D423E65CE" xlink:to="lab_pnw_ElectricEnergyEfficiencyStandardMember_0A16E3AA9E8F22BBFE9FCE3D423E65CE" xlink:type="arc"/>

<link:label id="lab_pnw_ArizonaRenewableEnergyStandardAndTariffMember_3D6B40CFDCF53067EFB5CE3D423E7CFE_terseLabel_en-US" xlink:label="lab_pnw_ArizonaRenewableEnergyStandardAndTariffMember_3D6B40CFDCF53067EFB5CE3D423E7CFE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> RES </link:label>

<link:label id="lab_pnw_ArizonaRenewableEnergyStandardAndTariffMember_3D6B40CFDCF53067EFB5CE3D423E7CFE_label_en-US" xlink:label="lab_pnw_ArizonaRenewableEnergyStandardAndTariffMember_3D6B40CFDCF53067EFB5CE3D423E7CFE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Arizona Renewable Energy Standard and Tariff [Member] </link:label>

<link:label id="lab_pnw_ArizonaRenewableEnergyStandardAndTariffMember_3D6B40CFDCF53067EFB5CE3D423E7CFE_documentation_en-US" xlink:label="lab_pnw_ArizonaRenewableEnergyStandardAndTariffMember_3D6B40CFDCF53067EFB5CE3D423E7CFE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the RES program which permits a surcharge as part of customer bills to recover approved amounts for use in renewable energy projects. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ArizonaRenewableEnergyStandardAndTariffMember" xlink:label="loc_pnw_ArizonaRenewableEnergyStandardAndTariffMember_3D6B40CFDCF53067EFB5CE3D423E7CFE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ArizonaRenewableEnergyStandardAndTariffMember_3D6B40CFDCF53067EFB5CE3D423E7CFE" xlink:to="lab_pnw_ArizonaRenewableEnergyStandardAndTariffMember_3D6B40CFDCF53067EFB5CE3D423E7CFE" xlink:type="arc"/>

<link:label id="lab_pnw_ArizonaRenewableEnergyStandardAndTariffAnnualImplementationPlan2014To2018Member_94EF52A66E137559745DCE3D423E7146_terseLabel_en-US" xlink:label="lab_pnw_ArizonaRenewableEnergyStandardAndTariffAnnualImplementationPlan2014To2018Member_94EF52A66E137559745DCE3D423E7146" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> RES implementation plan covering 2014-2018 timeframe </link:label>

<link:label id="lab_pnw_ArizonaRenewableEnergyStandardAndTariffAnnualImplementationPlan2014To2018Member_94EF52A66E137559745DCE3D423E7146_label_en-US" xlink:label="lab_pnw_ArizonaRenewableEnergyStandardAndTariffAnnualImplementationPlan2014To2018Member_94EF52A66E137559745DCE3D423E7146" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Arizona Renewable Energy Standard and Tariff Annual Implementation Plan 2014 to 2018 [Member] </link:label>

<link:label id="lab_pnw_ArizonaRenewableEnergyStandardAndTariffAnnualImplementationPlan2014To2018Member_94EF52A66E137559745DCE3D423E7146_documentation_en-US" xlink:label="lab_pnw_ArizonaRenewableEnergyStandardAndTariffAnnualImplementationPlan2014To2018Member_94EF52A66E137559745DCE3D423E7146" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to the annual RES implementation plan covering the 2014-2018 timeframe. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ArizonaRenewableEnergyStandardAndTariffAnnualImplementationPlan2014To2018Member" xlink:label="loc_pnw_ArizonaRenewableEnergyStandardAndTariffAnnualImplementationPlan2014To2018Member_94EF52A66E137559745DCE3D423E7146" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ArizonaRenewableEnergyStandardAndTariffAnnualImplementationPlan2014To2018Member_94EF52A66E137559745DCE3D423E7146" xlink:to="lab_pnw_ArizonaRenewableEnergyStandardAndTariffAnnualImplementationPlan2014To2018Member_94EF52A66E137559745DCE3D423E7146" xlink:type="arc"/>

<link:label id="lab_pnw_ArizonaRenewableEnergyStandardAndTariff2014Member_EF61377CA3113195579FCE3D423FD023_terseLabel_en-US" xlink:label="lab_pnw_ArizonaRenewableEnergyStandardAndTariff2014Member_EF61377CA3113195579FCE3D423FD023" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Arizona Renewable Energy Standard and Tariff 2014 </link:label>

<link:label id="lab_pnw_ArizonaRenewableEnergyStandardAndTariff2014Member_EF61377CA3113195579FCE3D423FD023_label_en-US" xlink:label="lab_pnw_ArizonaRenewableEnergyStandardAndTariff2014Member_EF61377CA3113195579FCE3D423FD023" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Arizona Renewable Energy Standard and Tariff 2014 [Member] </link:label>

<link:label id="lab_pnw_ArizonaRenewableEnergyStandardAndTariff2014Member_EF61377CA3113195579FCE3D423FD023_documentation_en-US" xlink:label="lab_pnw_ArizonaRenewableEnergyStandardAndTariff2014Member_EF61377CA3113195579FCE3D423FD023" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the RES program, which permits a surcharge for 2014 as a part of customer bills to recover approved amounts for use in renewable energy projects. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ArizonaRenewableEnergyStandardAndTariff2014Member" xlink:label="loc_pnw_ArizonaRenewableEnergyStandardAndTariff2014Member_EF61377CA3113195579FCE3D423FD023" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ArizonaRenewableEnergyStandardAndTariff2014Member_EF61377CA3113195579FCE3D423FD023" xlink:to="lab_pnw_ArizonaRenewableEnergyStandardAndTariff2014Member_EF61377CA3113195579FCE3D423FD023" xlink:type="arc"/>

<link:label id="lab_pnw_ArizonaRenewableEnergyStandardandTariff2016Member_0AB49AE824D5E105C563CE3D423FC600_terseLabel_en-US" xlink:label="lab_pnw_ArizonaRenewableEnergyStandardandTariff2016Member_0AB49AE824D5E105C563CE3D423FC600" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Arizona Renewable Energy Standard and Tariff 2016 </link:label>

<link:label id="lab_pnw_ArizonaRenewableEnergyStandardandTariff2016Member_0AB49AE824D5E105C563CE3D423FC600_label_en-US" xlink:label="lab_pnw_ArizonaRenewableEnergyStandardandTariff2016Member_0AB49AE824D5E105C563CE3D423FC600" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Arizona Renewable Energy Standard and Tariff 2016 [Member] </link:label>

<link:label id="lab_pnw_ArizonaRenewableEnergyStandardandTariff2016Member_0AB49AE824D5E105C563CE3D423FC600_documentation_en-US" xlink:label="lab_pnw_ArizonaRenewableEnergyStandardandTariff2016Member_0AB49AE824D5E105C563CE3D423FC600" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Arizona Renewable Energy Standard and Tariff 2016 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ArizonaRenewableEnergyStandardandTariff2016Member" xlink:label="loc_pnw_ArizonaRenewableEnergyStandardandTariff2016Member_0AB49AE824D5E105C563CE3D423FC600" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ArizonaRenewableEnergyStandardandTariff2016Member_0AB49AE824D5E105C563CE3D423FC600" xlink:to="lab_pnw_ArizonaRenewableEnergyStandardandTariff2016Member_0AB49AE824D5E105C563CE3D423FC600" xlink:type="arc"/>

<link:label id="lab_pnw_PowerSupplyAdjustorMember_15D1B089BCAAC8853BE2CE3D423F9FD9_terseLabel_en-US" xlink:label="lab_pnw_PowerSupplyAdjustorMember_15D1B089BCAAC8853BE2CE3D423F9FD9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Power Supply Adjustor (PSA) </link:label>

<link:label id="lab_pnw_PowerSupplyAdjustorMember_15D1B089BCAAC8853BE2CE3D423F9FD9_label_en-US" xlink:label="lab_pnw_PowerSupplyAdjustorMember_15D1B089BCAAC8853BE2CE3D423F9FD9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Power Supply Adjustor [Member] </link:label>

<link:label id="lab_pnw_PowerSupplyAdjustorMember_15D1B089BCAAC8853BE2CE3D423F9FD9_documentation_en-US" xlink:label="lab_pnw_PowerSupplyAdjustorMember_15D1B089BCAAC8853BE2CE3D423F9FD9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the Power Supply Adjustment Plan which permits a surcharge for variations in retail fuel and purchased power costs. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PowerSupplyAdjustorMember" xlink:label="loc_pnw_PowerSupplyAdjustorMember_15D1B089BCAAC8853BE2CE3D423F9FD9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PowerSupplyAdjustorMember_15D1B089BCAAC8853BE2CE3D423F9FD9" xlink:to="lab_pnw_PowerSupplyAdjustorMember_15D1B089BCAAC8853BE2CE3D423F9FD9" xlink:type="arc"/>

<link:label id="lab_pnw_OpenAccessTransmissionTariffMember_AC6D056EFF588BF7B938CE3D423FDA85_terseLabel_en-US" xlink:label="lab_pnw_OpenAccessTransmissionTariffMember_AC6D056EFF588BF7B938CE3D423FDA85" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Transmission Rates, Transmission Cost Adjustor and Other Transmission Matters </link:label>

<link:label id="lab_pnw_OpenAccessTransmissionTariffMember_AC6D056EFF588BF7B938CE3D423FDA85_label_en-US" xlink:label="lab_pnw_OpenAccessTransmissionTariffMember_AC6D056EFF588BF7B938CE3D423FDA85" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Open Access Transmission Tariff [Member] </link:label>

<link:label id="lab_pnw_OpenAccessTransmissionTariffMember_AC6D056EFF588BF7B938CE3D423FDA85_documentation_en-US" xlink:label="lab_pnw_OpenAccessTransmissionTariffMember_AC6D056EFF588BF7B938CE3D423FDA85" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the formula rate-setting methodology to reflect and recover costs incurred in providing transmission services. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_OpenAccessTransmissionTariffMember" xlink:label="loc_pnw_OpenAccessTransmissionTariffMember_AC6D056EFF588BF7B938CE3D423FDA85" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_OpenAccessTransmissionTariffMember_AC6D056EFF588BF7B938CE3D423FDA85" xlink:to="lab_pnw_OpenAccessTransmissionTariffMember_AC6D056EFF588BF7B938CE3D423FDA85" xlink:type="arc"/>

<link:label id="lab_pnw_LostFixedCostRecoveryMechanismsMember_09C823D8C2DBC5E3121BCE3D423FA870_terseLabel_en-US" xlink:label="lab_pnw_LostFixedCostRecoveryMechanismsMember_09C823D8C2DBC5E3121BCE3D423FA870" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Lost Fixed Cost Recovery Mechanism </link:label>

<link:label id="lab_pnw_LostFixedCostRecoveryMechanismsMember_09C823D8C2DBC5E3121BCE3D423FA870_label_en-US" xlink:label="lab_pnw_LostFixedCostRecoveryMechanismsMember_09C823D8C2DBC5E3121BCE3D423FA870" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Lost Fixed Cost Recovery Mechanisms [Member] </link:label>

<link:label id="lab_pnw_LostFixedCostRecoveryMechanismsMember_09C823D8C2DBC5E3121BCE3D423FA870_documentation_en-US" xlink:label="lab_pnw_LostFixedCostRecoveryMechanismsMember_09C823D8C2DBC5E3121BCE3D423FA870" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents lost fixed cost recovery mechanism. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LostFixedCostRecoveryMechanismsMember" xlink:label="loc_pnw_LostFixedCostRecoveryMechanismsMember_09C823D8C2DBC5E3121BCE3D423FA870" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_LostFixedCostRecoveryMechanismsMember_09C823D8C2DBC5E3121BCE3D423FA870" xlink:to="lab_pnw_LostFixedCostRecoveryMechanismsMember_09C823D8C2DBC5E3121BCE3D423FA870" xlink:type="arc"/>

<link:label id="lab_pnw_NetMeteringMember_D27C84B1EEF74D74C7DDCE3D423FD374_terseLabel_en-US" xlink:label="lab_pnw_NetMeteringMember_D27C84B1EEF74D74C7DDCE3D423FD374" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net Metering </link:label>

<link:label id="lab_pnw_NetMeteringMember_D27C84B1EEF74D74C7DDCE3D423FD374_label_en-US" xlink:label="lab_pnw_NetMeteringMember_D27C84B1EEF74D74C7DDCE3D423FD374" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Metering [Member] </link:label>

<link:label id="lab_pnw_NetMeteringMember_D27C84B1EEF74D74C7DDCE3D423FD374_documentation_en-US" xlink:label="lab_pnw_NetMeteringMember_D27C84B1EEF74D74C7DDCE3D423FD374" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to the proposed solution to the ACC to fix the cost shift brought by current net metering rules. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NetMeteringMember" xlink:label="loc_pnw_NetMeteringMember_D27C84B1EEF74D74C7DDCE3D423FD374" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NetMeteringMember_D27C84B1EEF74D74C7DDCE3D423FD374" xlink:to="lab_pnw_NetMeteringMember_D27C84B1EEF74D74C7DDCE3D423FD374" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryAssetAxis_CB5D1C150AB565AA8EA4CE3D423F12F3_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryAssetAxis_CB5D1C150AB565AA8EA4CE3D423F12F3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory Asset [Axis] </link:label>

<link:label id="lab_us-gaap_RegulatoryAssetAxis_CB5D1C150AB565AA8EA4CE3D423F12F3_label_en-US" xlink:label="lab_us-gaap_RegulatoryAssetAxis_CB5D1C150AB565AA8EA4CE3D423F12F3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Asset [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryAssetAxis" xlink:label="loc_us-gaap_RegulatoryAssetAxis_CB5D1C150AB565AA8EA4CE3D423F12F3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryAssetAxis_CB5D1C150AB565AA8EA4CE3D423F12F3" xlink:to="lab_us-gaap_RegulatoryAssetAxis_CB5D1C150AB565AA8EA4CE3D423F12F3" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryAssetDomain_801C1E0C230A7FBE27B4CE3D423F561A_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryAssetDomain_801C1E0C230A7FBE27B4CE3D423F561A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory Asset [Domain] </link:label>

<link:label id="lab_us-gaap_RegulatoryAssetDomain_801C1E0C230A7FBE27B4CE3D423F561A_label_en-US" xlink:label="lab_us-gaap_RegulatoryAssetDomain_801C1E0C230A7FBE27B4CE3D423F561A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Asset [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryAssetDomain" xlink:label="loc_us-gaap_RegulatoryAssetDomain_801C1E0C230A7FBE27B4CE3D423F561A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryAssetDomain_801C1E0C230A7FBE27B4CE3D423F561A" xlink:to="lab_us-gaap_RegulatoryAssetDomain_801C1E0C230A7FBE27B4CE3D423F561A" xlink:type="arc"/>

<link:label id="lab_pnw_RetiredPowerPlantCostsMember_7A2A9599F96E83828B78CE3D423FEBBD_verboseLabel_en-US" xlink:label="lab_pnw_RetiredPowerPlantCostsMember_7A2A9599F96E83828B78CE3D423FEBBD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Retired power plant costs </link:label>

<link:label id="lab_pnw_RetiredPowerPlantCostsMember_7A2A9599F96E83828B78CE3D423FEBBD_label_en-US" xlink:label="lab_pnw_RetiredPowerPlantCostsMember_7A2A9599F96E83828B78CE3D423FEBBD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Retired Power Plant Costs [Member] </link:label>

<link:label id="lab_pnw_RetiredPowerPlantCostsMember_7A2A9599F96E83828B78CE3D423FEBBD_documentation_en-US" xlink:label="lab_pnw_RetiredPowerPlantCostsMember_7A2A9599F96E83828B78CE3D423FEBBD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the regulatory asset under Retired power plant costs. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RetiredPowerPlantCostsMember" xlink:label="loc_pnw_RetiredPowerPlantCostsMember_7A2A9599F96E83828B78CE3D423FEBBD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RetiredPowerPlantCostsMember_7A2A9599F96E83828B78CE3D423FEBBD" xlink:to="lab_pnw_RetiredPowerPlantCostsMember_7A2A9599F96E83828B78CE3D423FEBBD" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredFuelAndPurchasedPowerCostsMember_C7E5489581410DB1848CCE3D423F61F5_terseLabel_en-US" xlink:label="lab_pnw_DeferredFuelAndPurchasedPowerCostsMember_C7E5489581410DB1848CCE3D423F61F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred fuel and purchased power </link:label>

<link:label id="lab_pnw_DeferredFuelAndPurchasedPowerCostsMember_C7E5489581410DB1848CCE3D423F61F5_label_en-US" xlink:label="lab_pnw_DeferredFuelAndPurchasedPowerCostsMember_C7E5489581410DB1848CCE3D423F61F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Fuel and Purchased Power Costs [Member] </link:label>

<link:label id="lab_pnw_DeferredFuelAndPurchasedPowerCostsMember_C7E5489581410DB1848CCE3D423F61F5_documentation_en-US" xlink:label="lab_pnw_DeferredFuelAndPurchasedPowerCostsMember_C7E5489581410DB1848CCE3D423F61F5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Fuel and purchased power costs incurred that would otherwise be charged to expense. These costs are included in allowable costs for rate making purposes and future revenue will be provided to permit recovery of such incurred costs. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredFuelAndPurchasedPowerCostsMember" xlink:label="loc_pnw_DeferredFuelAndPurchasedPowerCostsMember_C7E5489581410DB1848CCE3D423F61F5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredFuelAndPurchasedPowerCostsMember_C7E5489581410DB1848CCE3D423F61F5" xlink:to="lab_pnw_DeferredFuelAndPurchasedPowerCostsMember_C7E5489581410DB1848CCE3D423F61F5" xlink:type="arc"/>

<link:label id="lab_pnw_RegulatoryMattersLineItems_EFAE3330AFA2C71D1A9BCE3D423F136B_terseLabel_en-US" xlink:label="lab_pnw_RegulatoryMattersLineItems_EFAE3330AFA2C71D1A9BCE3D423F136B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory Matters [Line Items] </link:label>

<link:label id="lab_pnw_RegulatoryMattersLineItems_EFAE3330AFA2C71D1A9BCE3D423F136B_label_en-US" xlink:label="lab_pnw_RegulatoryMattersLineItems_EFAE3330AFA2C71D1A9BCE3D423F136B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Matters [Line Items] </link:label>

<link:label id="lab_pnw_RegulatoryMattersLineItems_EFAE3330AFA2C71D1A9BCE3D423F136B_documentation_en-US" xlink:label="lab_pnw_RegulatoryMattersLineItems_EFAE3330AFA2C71D1A9BCE3D423F136B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RegulatoryMattersLineItems" xlink:label="loc_pnw_RegulatoryMattersLineItems_EFAE3330AFA2C71D1A9BCE3D423F136B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RegulatoryMattersLineItems_EFAE3330AFA2C71D1A9BCE3D423F136B" xlink:to="lab_pnw_RegulatoryMattersLineItems_EFAE3330AFA2C71D1A9BCE3D423F136B" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesRequestedRateIncreaseDecreaseAmount_8E9F566F023F23DC4530CE3D423F4B67_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesRequestedRateIncreaseDecreaseAmount_8E9F566F023F23DC4530CE3D423F4B67" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net retail rate increase </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesRequestedRateIncreaseDecreaseAmount_8E9F566F023F23DC4530CE3D423F4B67_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesRequestedRateIncreaseDecreaseAmount_8E9F566F023F23DC4530CE3D423F4B67" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Requested Rate Increase (Decrease), Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesRequestedRateIncreaseDecreaseAmount" xlink:label="loc_us-gaap_PublicUtilitiesRequestedRateIncreaseDecreaseAmount_8E9F566F023F23DC4530CE3D423F4B67" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesRequestedRateIncreaseDecreaseAmount_8E9F566F023F23DC4530CE3D423F4B67" xlink:to="lab_us-gaap_PublicUtilitiesRequestedRateIncreaseDecreaseAmount_8E9F566F023F23DC4530CE3D423F4B67" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterApproximatePercentageOfIncreaseInAverageRetailCustomerBill_643A2988E26A2B825281CE3D423F007B_terseLabel_en-US" xlink:label="lab_pnw_RateMatterApproximatePercentageOfIncreaseInAverageRetailCustomerBill_643A2988E26A2B825281CE3D423F007B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Approximate percentage of increase in the average retail customer bill </link:label>

<link:label id="lab_pnw_RateMatterApproximatePercentageOfIncreaseInAverageRetailCustomerBill_643A2988E26A2B825281CE3D423F007B_label_en-US" xlink:label="lab_pnw_RateMatterApproximatePercentageOfIncreaseInAverageRetailCustomerBill_643A2988E26A2B825281CE3D423F007B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter, Approximate Percentage of Increase in Average Retail Customer Bill </link:label>

<link:label id="lab_pnw_RateMatterApproximatePercentageOfIncreaseInAverageRetailCustomerBill_643A2988E26A2B825281CE3D423F007B_documentation_en-US" xlink:label="lab_pnw_RateMatterApproximatePercentageOfIncreaseInAverageRetailCustomerBill_643A2988E26A2B825281CE3D423F007B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Approximate percentage of increase in the average retail customer bill due to request for net retail base rate increase. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterApproximatePercentageOfIncreaseInAverageRetailCustomerBill" xlink:label="loc_pnw_RateMatterApproximatePercentageOfIncreaseInAverageRetailCustomerBill_643A2988E26A2B825281CE3D423F007B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterApproximatePercentageOfIncreaseInAverageRetailCustomerBill_643A2988E26A2B825281CE3D423F007B" xlink:to="lab_pnw_RateMatterApproximatePercentageOfIncreaseInAverageRetailCustomerBill_643A2988E26A2B825281CE3D423F007B" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesRateMattersApprovedAbstract_7B3570893D76A2EA5813CE3D423F0D51_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesRateMattersApprovedAbstract_7B3570893D76A2EA5813CE3D423F0D51" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Settlement Agreement </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesRateMattersApprovedAbstract_7B3570893D76A2EA5813CE3D423F0D51_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesRateMattersApprovedAbstract_7B3570893D76A2EA5813CE3D423F0D51" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Rate Matters, Approved [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesRateMattersApprovedAbstract" xlink:label="loc_us-gaap_PublicUtilitiesRateMattersApprovedAbstract_7B3570893D76A2EA5813CE3D423F0D51" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesRateMattersApprovedAbstract_7B3570893D76A2EA5813CE3D423F0D51" xlink:to="lab_us-gaap_PublicUtilitiesRateMattersApprovedAbstract_7B3570893D76A2EA5813CE3D423F0D51" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_E3B985A0EFFBAB212BEECE3D423FB62B_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_E3B985A0EFFBAB212BEECE3D423FB62B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net change in base rates </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_E3B985A0EFFBAB212BEECE3D423FB62B_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_E3B985A0EFFBAB212BEECE3D423FB62B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Approved Rate Increase (Decrease), Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount" xlink:label="loc_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_E3B985A0EFFBAB212BEECE3D423FB62B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_E3B985A0EFFBAB212BEECE3D423FB62B" xlink:to="lab_us-gaap_PublicUtilitiesApprovedRateIncreaseDecreaseAmount_E3B985A0EFFBAB212BEECE3D423FB62B" xlink:type="arc"/>

<link:label id="lab_pnw_SettlementAgreementNonFuelBaseRateIncrease_CE4ADEBA14FBFC0FF2E7CE3D423F49DA_terseLabel_en-US" xlink:label="lab_pnw_SettlementAgreementNonFuelBaseRateIncrease_CE4ADEBA14FBFC0FF2E7CE3D423F49DA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Non-fuel base rate increase </link:label>

<link:label id="lab_pnw_SettlementAgreementNonFuelBaseRateIncrease_CE4ADEBA14FBFC0FF2E7CE3D423F49DA_label_en-US" xlink:label="lab_pnw_SettlementAgreementNonFuelBaseRateIncrease_CE4ADEBA14FBFC0FF2E7CE3D423F49DA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Settlement Agreement, Non Fuel Base Rate, Increase </link:label>

<link:label id="lab_pnw_SettlementAgreementNonFuelBaseRateIncrease_CE4ADEBA14FBFC0FF2E7CE3D423F49DA_documentation_en-US" xlink:label="lab_pnw_SettlementAgreementNonFuelBaseRateIncrease_CE4ADEBA14FBFC0FF2E7CE3D423F49DA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount of increase in non-fuel base rates as per the terms of the settlement agreement of a regulatory matter. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SettlementAgreementNonFuelBaseRateIncrease" xlink:label="loc_pnw_SettlementAgreementNonFuelBaseRateIncrease_CE4ADEBA14FBFC0FF2E7CE3D423F49DA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SettlementAgreementNonFuelBaseRateIncrease_CE4ADEBA14FBFC0FF2E7CE3D423F49DA" xlink:to="lab_pnw_SettlementAgreementNonFuelBaseRateIncrease_CE4ADEBA14FBFC0FF2E7CE3D423F49DA" xlink:type="arc"/>

<link:label id="lab_pnw_SettlementAgreementFuelRelatedBaseRateDecrease_181714560653281381F5CE3D423F418E_terseLabel_en-US" xlink:label="lab_pnw_SettlementAgreementFuelRelatedBaseRateDecrease_181714560653281381F5CE3D423F418E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fuel-related base rate decrease </link:label>

<link:label id="lab_pnw_SettlementAgreementFuelRelatedBaseRateDecrease_181714560653281381F5CE3D423F418E_label_en-US" xlink:label="lab_pnw_SettlementAgreementFuelRelatedBaseRateDecrease_181714560653281381F5CE3D423F418E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Settlement Agreement Fuel Related Base Rate Decrease </link:label>

<link:label id="lab_pnw_SettlementAgreementFuelRelatedBaseRateDecrease_181714560653281381F5CE3D423F418E_documentation_en-US" xlink:label="lab_pnw_SettlementAgreementFuelRelatedBaseRateDecrease_181714560653281381F5CE3D423F418E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount of decrease in fuel-related base rates as per the terms of the settlement agreement of a regulatory matter. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SettlementAgreementFuelRelatedBaseRateDecrease" xlink:label="loc_pnw_SettlementAgreementFuelRelatedBaseRateDecrease_181714560653281381F5CE3D423F418E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SettlementAgreementFuelRelatedBaseRateDecrease_181714560653281381F5CE3D423F418E" xlink:to="lab_pnw_SettlementAgreementFuelRelatedBaseRateDecrease_181714560653281381F5CE3D423F418E" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterBaseFuelRateCurrent_6E6278C7A3EC8DA9CF58CE3D423F2485_terseLabel_en-US" xlink:label="lab_pnw_RateMatterBaseFuelRateCurrent_6E6278C7A3EC8DA9CF58CE3D423F2485" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Current base fuel rate (in dollars per kWh) </link:label>

<link:label id="lab_pnw_RateMatterBaseFuelRateCurrent_6E6278C7A3EC8DA9CF58CE3D423F2485_label_en-US" xlink:label="lab_pnw_RateMatterBaseFuelRateCurrent_6E6278C7A3EC8DA9CF58CE3D423F2485" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter, Base Fuel Rate Current </link:label>

<link:label id="lab_pnw_RateMatterBaseFuelRateCurrent_6E6278C7A3EC8DA9CF58CE3D423F2485_documentation_en-US" xlink:label="lab_pnw_RateMatterBaseFuelRateCurrent_6E6278C7A3EC8DA9CF58CE3D423F2485" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the current base rate for fuel and purchased power costs. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterBaseFuelRateCurrent" xlink:label="loc_pnw_RateMatterBaseFuelRateCurrent_6E6278C7A3EC8DA9CF58CE3D423F2485" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterBaseFuelRateCurrent_6E6278C7A3EC8DA9CF58CE3D423F2485" xlink:to="lab_pnw_RateMatterBaseFuelRateCurrent_6E6278C7A3EC8DA9CF58CE3D423F2485" xlink:type="arc"/>

<link:label id="lab_pnw_SettlementAgreementBaseFuelRateProposed_0FD9D91D7AF43EFEA033CE3D423FA8AA_terseLabel_en-US" xlink:label="lab_pnw_SettlementAgreementBaseFuelRateProposed_0FD9D91D7AF43EFEA033CE3D423FA8AA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Approved base fuel rate (in dollars per kWh) </link:label>

<link:label id="lab_pnw_SettlementAgreementBaseFuelRateProposed_0FD9D91D7AF43EFEA033CE3D423FA8AA_label_en-US" xlink:label="lab_pnw_SettlementAgreementBaseFuelRateProposed_0FD9D91D7AF43EFEA033CE3D423FA8AA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Settlement Agreement Base Fuel Rate Proposed </link:label>

<link:label id="lab_pnw_SettlementAgreementBaseFuelRateProposed_0FD9D91D7AF43EFEA033CE3D423FA8AA_documentation_en-US" xlink:label="lab_pnw_SettlementAgreementBaseFuelRateProposed_0FD9D91D7AF43EFEA033CE3D423FA8AA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the base rate for fuel and purchased power costs as per the terms of the settlement agreement of a regulatory matter. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SettlementAgreementBaseFuelRateProposed" xlink:label="loc_pnw_SettlementAgreementBaseFuelRateProposed_0FD9D91D7AF43EFEA033CE3D423FA8AA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SettlementAgreementBaseFuelRateProposed_0FD9D91D7AF43EFEA033CE3D423FA8AA" xlink:to="lab_pnw_SettlementAgreementBaseFuelRateProposed_0FD9D91D7AF43EFEA033CE3D423FA8AA" xlink:type="arc"/>

<link:label id="lab_pnw_SettlementAgreementTransferOfCostRecoveryToBaseRates_E39565B47C1CFFE0D38DCE3D42409E2F_terseLabel_en-US" xlink:label="lab_pnw_SettlementAgreementTransferOfCostRecoveryToBaseRates_E39565B47C1CFFE0D38DCE3D42409E2F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Estimated amount of transfer of cost recovery for certain renewable energy projects from the RES surcharge to base rates </link:label>

<link:label id="lab_pnw_SettlementAgreementTransferOfCostRecoveryToBaseRates_E39565B47C1CFFE0D38DCE3D42409E2F_label_en-US" xlink:label="lab_pnw_SettlementAgreementTransferOfCostRecoveryToBaseRates_E39565B47C1CFFE0D38DCE3D42409E2F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Settlement Agreement Transfer of Cost Recovery to Base Rates </link:label>

<link:label id="lab_pnw_SettlementAgreementTransferOfCostRecoveryToBaseRates_E39565B47C1CFFE0D38DCE3D42409E2F_documentation_en-US" xlink:label="lab_pnw_SettlementAgreementTransferOfCostRecoveryToBaseRates_E39565B47C1CFFE0D38DCE3D42409E2F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Estimated amount of transfer of cost recovery for certain renewable energy projects from the RES surcharge to base rates as per the terms of the settlement agreement of a regulatory matter. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SettlementAgreementTransferOfCostRecoveryToBaseRates" xlink:label="loc_pnw_SettlementAgreementTransferOfCostRecoveryToBaseRates_E39565B47C1CFFE0D38DCE3D42409E2F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SettlementAgreementTransferOfCostRecoveryToBaseRates_E39565B47C1CFFE0D38DCE3D42409E2F" xlink:to="lab_pnw_SettlementAgreementTransferOfCostRecoveryToBaseRates_E39565B47C1CFFE0D38DCE3D42409E2F" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_C731354C211FF9BD1E2BCE3D42404238_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_C731354C211FF9BD1E2BCE3D42404238" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Authorized return on common equity (as a percent) </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_C731354C211FF9BD1E2BCE3D42404238_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_C731354C211FF9BD1E2BCE3D42404238" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Approved Return on Equity, Percentage </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage" xlink:label="loc_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_C731354C211FF9BD1E2BCE3D42404238" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_C731354C211FF9BD1E2BCE3D42404238" xlink:to="lab_us-gaap_PublicUtilitiesApprovedReturnOnEquityPercentage_C731354C211FF9BD1E2BCE3D42404238" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesApprovedDebtCapitalStructurePercentage_11BD9AF35C10D88993B8CE3D424018F7_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesApprovedDebtCapitalStructurePercentage_11BD9AF35C10D88993B8CE3D424018F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of debt in capital structure </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesApprovedDebtCapitalStructurePercentage_11BD9AF35C10D88993B8CE3D424018F7_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesApprovedDebtCapitalStructurePercentage_11BD9AF35C10D88993B8CE3D424018F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Approved Debt Capital Structure, Percentage </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesApprovedDebtCapitalStructurePercentage" xlink:label="loc_us-gaap_PublicUtilitiesApprovedDebtCapitalStructurePercentage_11BD9AF35C10D88993B8CE3D424018F7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesApprovedDebtCapitalStructurePercentage_11BD9AF35C10D88993B8CE3D424018F7" xlink:to="lab_us-gaap_PublicUtilitiesApprovedDebtCapitalStructurePercentage_11BD9AF35C10D88993B8CE3D424018F7" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesApprovedEquityCapitalStructurePercentage_36E3060CB6720CC8D7F2CE3D4240DC79_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesApprovedEquityCapitalStructurePercentage_36E3060CB6720CC8D7F2CE3D4240DC79" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of common equity in capital structure </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesApprovedEquityCapitalStructurePercentage_36E3060CB6720CC8D7F2CE3D4240DC79_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesApprovedEquityCapitalStructurePercentage_36E3060CB6720CC8D7F2CE3D4240DC79" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Approved Equity Capital Structure, Percentage </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesApprovedEquityCapitalStructurePercentage" xlink:label="loc_us-gaap_PublicUtilitiesApprovedEquityCapitalStructurePercentage_36E3060CB6720CC8D7F2CE3D4240DC79" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesApprovedEquityCapitalStructurePercentage_36E3060CB6720CC8D7F2CE3D4240DC79" xlink:to="lab_us-gaap_PublicUtilitiesApprovedEquityCapitalStructurePercentage_36E3060CB6720CC8D7F2CE3D4240DC79" xlink:type="arc"/>

<link:label id="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearOne_D3A9F959183B981A753ECE3D4240FC90_terseLabel_en-US" xlink:label="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearOne_D3A9F959183B981A753ECE3D4240FC90" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferral of property taxes in 2012, if Arizona property tax rates increase (as a percent) </link:label>

<link:label id="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearOne_D3A9F959183B981A753ECE3D4240FC90_label_en-US" xlink:label="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearOne_D3A9F959183B981A753ECE3D4240FC90" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Settlement Agreement Percentage of Deferral of Property Taxes if Arizona Property Tax Rates Increase, Year One </link:label>

<link:label id="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearOne_D3A9F959183B981A753ECE3D4240FC90_documentation_en-US" xlink:label="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearOne_D3A9F959183B981A753ECE3D4240FC90" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Percentage of deferral of property taxes in year one, if Arizona property tax rates increase. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearOne" xlink:label="loc_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearOne_D3A9F959183B981A753ECE3D4240FC90" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearOne_D3A9F959183B981A753ECE3D4240FC90" xlink:to="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearOne_D3A9F959183B981A753ECE3D4240FC90" xlink:type="arc"/>

<link:label id="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearTwo_E6EAC82C2BFE8E9FC455CE3D4240F6E9_terseLabel_en-US" xlink:label="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearTwo_E6EAC82C2BFE8E9FC455CE3D4240F6E9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferral of property taxes in 2013, if Arizona property tax rates increase (as a percent) </link:label>

<link:label id="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearTwo_E6EAC82C2BFE8E9FC455CE3D4240F6E9_label_en-US" xlink:label="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearTwo_E6EAC82C2BFE8E9FC455CE3D4240F6E9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Settlement Agreement Percentage of Deferral of Property Taxes if Arizona Property Tax Rates Increase, Year Two </link:label>

<link:label id="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearTwo_E6EAC82C2BFE8E9FC455CE3D4240F6E9_documentation_en-US" xlink:label="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearTwo_E6EAC82C2BFE8E9FC455CE3D4240F6E9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Percentage of deferral of property taxes in year two, if Arizona property tax rates increase. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearTwo" xlink:label="loc_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearTwo_E6EAC82C2BFE8E9FC455CE3D4240F6E9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearTwo_E6EAC82C2BFE8E9FC455CE3D4240F6E9" xlink:to="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearTwo_E6EAC82C2BFE8E9FC455CE3D4240F6E9" xlink:type="arc"/>

<link:label id="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearThreeAndThereafter_192257D77CA8B827A9A3CE3D42408C22_terseLabel_en-US" xlink:label="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearThreeAndThereafter_192257D77CA8B827A9A3CE3D42408C22" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferral of property taxes for 2014 and subsequent years, if Arizona property tax rates increase (as a percent) </link:label>

<link:label id="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearThreeAndThereafter_192257D77CA8B827A9A3CE3D42408C22_label_en-US" xlink:label="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearThreeAndThereafter_192257D77CA8B827A9A3CE3D42408C22" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Settlement Agreement Percentage of Deferral of Property Taxes if Arizona Property Tax Rates Increase, Year Three and Thereafter </link:label>

<link:label id="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearThreeAndThereafter_192257D77CA8B827A9A3CE3D42408C22_documentation_en-US" xlink:label="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearThreeAndThereafter_192257D77CA8B827A9A3CE3D42408C22" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Percentage of deferral of property taxes for year three and thereafter, if Arizona property tax rates increase. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearThreeAndThereafter" xlink:label="loc_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearThreeAndThereafter_192257D77CA8B827A9A3CE3D42408C22" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearThreeAndThereafter_192257D77CA8B827A9A3CE3D42408C22" xlink:to="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesIncreaseYearThreeAndThereafter_192257D77CA8B827A9A3CE3D42408C22" xlink:type="arc"/>

<link:label id="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesDecrease_211CD808428CC3BE3EE1CE3D4240CEB1_terseLabel_en-US" xlink:label="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesDecrease_211CD808428CC3BE3EE1CE3D4240CEB1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferral of property taxes in all years, if Arizona property tax rates decrease (as a percent) </link:label>

<link:label id="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesDecrease_211CD808428CC3BE3EE1CE3D4240CEB1_label_en-US" xlink:label="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesDecrease_211CD808428CC3BE3EE1CE3D4240CEB1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Settlement Agreement Percentage of Deferral of Property Taxes if Arizona Property Tax Rates Decrease </link:label>

<link:label id="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesDecrease_211CD808428CC3BE3EE1CE3D4240CEB1_documentation_en-US" xlink:label="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesDecrease_211CD808428CC3BE3EE1CE3D4240CEB1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Percentage of deferral of property taxes in all years, if Arizona property tax rates decrease. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesDecrease" xlink:label="loc_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesDecrease_211CD808428CC3BE3EE1CE3D4240CEB1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesDecrease_211CD808428CC3BE3EE1CE3D4240CEB1" xlink:to="lab_pnw_SettlementAgreementPercentageOfDeferralOfPropertyTaxesIfArizonaPropertyTaxRatesDecrease_211CD808428CC3BE3EE1CE3D4240CEB1" xlink:type="arc"/>

<link:label id="lab_pnw_SettlementAgreementModificationsToEISCostRecovery_9011C1624580FBBD974FCE3D42409BB2_terseLabel_en-US" xlink:label="lab_pnw_SettlementAgreementModificationsToEISCostRecovery_9011C1624580FBBD974FCE3D42409BB2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Annual cost recovery due to modifications to the Environmental Improvement Surcharge </link:label>

<link:label id="lab_pnw_SettlementAgreementModificationsToEISCostRecovery_9011C1624580FBBD974FCE3D42409BB2_label_en-US" xlink:label="lab_pnw_SettlementAgreementModificationsToEISCostRecovery_9011C1624580FBBD974FCE3D42409BB2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Settlement Agreement Modifications to EIS Cost Recovery </link:label>

<link:label id="lab_pnw_SettlementAgreementModificationsToEISCostRecovery_9011C1624580FBBD974FCE3D42409BB2_documentation_en-US" xlink:label="lab_pnw_SettlementAgreementModificationsToEISCostRecovery_9011C1624580FBBD974FCE3D42409BB2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount of cost recovery due to modifications to the Environmental Improvement Surcharge (EIS) as per the terms of the settlement agreement of a regulatory matter. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SettlementAgreementModificationsToEISCostRecovery" xlink:label="loc_pnw_SettlementAgreementModificationsToEISCostRecovery_9011C1624580FBBD974FCE3D42409BB2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SettlementAgreementModificationsToEISCostRecovery_9011C1624580FBBD974FCE3D42409BB2" xlink:to="lab_pnw_SettlementAgreementModificationsToEISCostRecovery_9011C1624580FBBD974FCE3D42409BB2" xlink:type="arc"/>

<link:label id="lab_pnw_SettlementAgreementCurrentSharingProvisionOfFuelAndPurchasedPowerCostsElimination_E63A0886AA9A77488253CE3D424013E5_terseLabel_en-US" xlink:label="lab_pnw_SettlementAgreementCurrentSharingProvisionOfFuelAndPurchasedPowerCostsElimination_E63A0886AA9A77488253CE3D424013E5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Elimination of the sharing provision of fuel and purchased power costs </link:label>

<link:label id="lab_pnw_SettlementAgreementCurrentSharingProvisionOfFuelAndPurchasedPowerCostsElimination_E63A0886AA9A77488253CE3D424013E5_label_en-US" xlink:label="lab_pnw_SettlementAgreementCurrentSharingProvisionOfFuelAndPurchasedPowerCostsElimination_E63A0886AA9A77488253CE3D424013E5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Settlement Agreement Current Sharing Provision of Fuel and Purchased Power Costs Elimination </link:label>

<link:label id="lab_pnw_SettlementAgreementCurrentSharingProvisionOfFuelAndPurchasedPowerCostsElimination_E63A0886AA9A77488253CE3D424013E5_documentation_en-US" xlink:label="lab_pnw_SettlementAgreementCurrentSharingProvisionOfFuelAndPurchasedPowerCostsElimination_E63A0886AA9A77488253CE3D424013E5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the elimination of the current sharing provision of fuel and purchased power costs. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SettlementAgreementCurrentSharingProvisionOfFuelAndPurchasedPowerCostsElimination" xlink:label="loc_pnw_SettlementAgreementCurrentSharingProvisionOfFuelAndPurchasedPowerCostsElimination_E63A0886AA9A77488253CE3D424013E5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SettlementAgreementCurrentSharingProvisionOfFuelAndPurchasedPowerCostsElimination_E63A0886AA9A77488253CE3D424013E5" xlink:to="lab_pnw_SettlementAgreementCurrentSharingProvisionOfFuelAndPurchasedPowerCostsElimination_E63A0886AA9A77488253CE3D424013E5" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterProcessPeriod_3C64F42A5B2F490F8A15CE3D4240024B_terseLabel_en-US" xlink:label="lab_pnw_RateMatterProcessPeriod_3C64F42A5B2F490F8A15CE3D4240024B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Period to process the subsequent rate cases </link:label>

<link:label id="lab_pnw_RateMatterProcessPeriod_3C64F42A5B2F490F8A15CE3D4240024B_label_en-US" xlink:label="lab_pnw_RateMatterProcessPeriod_3C64F42A5B2F490F8A15CE3D4240024B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter, Process Period </link:label>

<link:label id="lab_pnw_RateMatterProcessPeriod_3C64F42A5B2F490F8A15CE3D4240024B_documentation_en-US" xlink:label="lab_pnw_RateMatterProcessPeriod_3C64F42A5B2F490F8A15CE3D4240024B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The period of time subsequent to the findings of the staff of the regulatory entity in which the parties agreed to process the rate matter in good faith. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterProcessPeriod" xlink:label="loc_pnw_RateMatterProcessPeriod_3C64F42A5B2F490F8A15CE3D4240024B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterProcessPeriod_3C64F42A5B2F490F8A15CE3D4240024B" xlink:to="lab_pnw_RateMatterProcessPeriod_3C64F42A5B2F490F8A15CE3D4240024B" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterFindingsPeriod_2D22445C4EDE5602A940CE3D424022C9_terseLabel_en-US" xlink:label="lab_pnw_RateMatterFindingsPeriod_2D22445C4EDE5602A940CE3D424022C9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> ACC staff sufficiency findings, general period of time </link:label>

<link:label id="lab_pnw_RateMatterFindingsPeriod_2D22445C4EDE5602A940CE3D424022C9_label_en-US" xlink:label="lab_pnw_RateMatterFindingsPeriod_2D22445C4EDE5602A940CE3D424022C9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter, Findings Period </link:label>

<link:label id="lab_pnw_RateMatterFindingsPeriod_2D22445C4EDE5602A940CE3D424022C9_documentation_en-US" xlink:label="lab_pnw_RateMatterFindingsPeriod_2D22445C4EDE5602A940CE3D424022C9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The period of time which the staff of the regulatory entity generally requires prior to issuance of its findings. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterFindingsPeriod" xlink:label="loc_pnw_RateMatterFindingsPeriod_2D22445C4EDE5602A940CE3D424022C9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterFindingsPeriod_2D22445C4EDE5602A940CE3D424022C9" xlink:to="lab_pnw_RateMatterFindingsPeriod_2D22445C4EDE5602A940CE3D424022C9" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterPlanTerm_407271865218AE2D4DE1CE3D4240BAC8_terseLabel_en-US" xlink:label="lab_pnw_RateMatterPlanTerm_407271865218AE2D4DE1CE3D4240BAC8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Plan term </link:label>

<link:label id="lab_pnw_RateMatterPlanTerm_407271865218AE2D4DE1CE3D4240BAC8_label_en-US" xlink:label="lab_pnw_RateMatterPlanTerm_407271865218AE2D4DE1CE3D4240BAC8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter, Plan Term </link:label>

<link:label id="lab_pnw_RateMatterPlanTerm_407271865218AE2D4DE1CE3D4240BAC8_documentation_en-US" xlink:label="lab_pnw_RateMatterPlanTerm_407271865218AE2D4DE1CE3D4240BAC8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The period of time covered by a plan to implement a standard enacted by a regulatory authority. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterPlanTerm" xlink:label="loc_pnw_RateMatterPlanTerm_407271865218AE2D4DE1CE3D4240BAC8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterPlanTerm_407271865218AE2D4DE1CE3D4240BAC8" xlink:to="lab_pnw_RateMatterPlanTerm_407271865218AE2D4DE1CE3D4240BAC8" xlink:type="arc"/>

<link:label id="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarCapacity_047ADE0AC6305240C4C9CE3D4240F7D3_terseLabel_en-US" xlink:label="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarCapacity_047ADE0AC6305240C4C9CE3D4240F7D3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Rate matter additional capacity from AZ Sun projects </link:label>

<link:label id="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarCapacity_047ADE0AC6305240C4C9CE3D4240F7D3_label_en-US" xlink:label="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarCapacity_047ADE0AC6305240C4C9CE3D4240F7D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Request to Build Additional Utility Scale Solar, Capacity </link:label>

<link:label id="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarCapacity_047ADE0AC6305240C4C9CE3D4240F7D3_documentation_en-US" xlink:label="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarCapacity_047ADE0AC6305240C4C9CE3D4240F7D3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Public Utilities, Request to Build Additional Utility Scale Solar, Capacity </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarCapacity" xlink:label="loc_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarCapacity_047ADE0AC6305240C4C9CE3D4240F7D3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarCapacity_047ADE0AC6305240C4C9CE3D4240F7D3" xlink:to="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarCapacity_047ADE0AC6305240C4C9CE3D4240F7D3" xlink:type="arc"/>

<link:label id="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarNumberofCustomers_5ABE49BF1BE9FA4BF9BFCE3D4240E286_terseLabel_en-US" xlink:label="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarNumberofCustomers_5ABE49BF1BE9FA4BF9BFCE3D4240E286" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Request to build additional utility scale solar, number of customers </link:label>

<link:label id="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarNumberofCustomers_5ABE49BF1BE9FA4BF9BFCE3D4240E286_label_en-US" xlink:label="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarNumberofCustomers_5ABE49BF1BE9FA4BF9BFCE3D4240E286" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Request to Build Additional Utility Scale Solar, Number of Customers </link:label>

<link:label id="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarNumberofCustomers_5ABE49BF1BE9FA4BF9BFCE3D4240E286_documentation_en-US" xlink:label="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarNumberofCustomers_5ABE49BF1BE9FA4BF9BFCE3D4240E286" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Public Utilities, Request to Build Additional Utility Scale Solar, Number of Customers </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarNumberofCustomers" xlink:label="loc_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarNumberofCustomers_5ABE49BF1BE9FA4BF9BFCE3D4240E286" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarNumberofCustomers_5ABE49BF1BE9FA4BF9BFCE3D4240E286" xlink:to="lab_pnw_PublicUtilitiesRequesttoBuildAdditionalUtilityScaleSolarNumberofCustomers_5ABE49BF1BE9FA4BF9BFCE3D4240E286" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterProposedBudget_5C12A8EC0CFBEF52A645CE3D4240396E_terseLabel_en-US" xlink:label="lab_pnw_RateMatterProposedBudget_5C12A8EC0CFBEF52A645CE3D4240396E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amount of proposed budget </link:label>

<link:label id="lab_pnw_RateMatterProposedBudget_5C12A8EC0CFBEF52A645CE3D4240396E_label_en-US" xlink:label="lab_pnw_RateMatterProposedBudget_5C12A8EC0CFBEF52A645CE3D4240396E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter, Proposed Budget </link:label>

<link:label id="lab_pnw_RateMatterProposedBudget_5C12A8EC0CFBEF52A645CE3D4240396E_documentation_en-US" xlink:label="lab_pnw_RateMatterProposedBudget_5C12A8EC0CFBEF52A645CE3D4240396E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the amount of proposed budget. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterProposedBudget" xlink:label="loc_pnw_RateMatterProposedBudget_5C12A8EC0CFBEF52A645CE3D4240396E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterProposedBudget_5C12A8EC0CFBEF52A645CE3D4240396E" xlink:to="lab_pnw_RateMatterProposedBudget_5C12A8EC0CFBEF52A645CE3D4240396E" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterApprovedBudget_CC91D479D8A10C5ADD5CCE3D424068E4_terseLabel_en-US" xlink:label="lab_pnw_RateMatterApprovedBudget_CC91D479D8A10C5ADD5CCE3D424068E4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amount of approved budget </link:label>

<link:label id="lab_pnw_RateMatterApprovedBudget_CC91D479D8A10C5ADD5CCE3D424068E4_label_en-US" xlink:label="lab_pnw_RateMatterApprovedBudget_CC91D479D8A10C5ADD5CCE3D424068E4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter, Approved Budget </link:label>

<link:label id="lab_pnw_RateMatterApprovedBudget_CC91D479D8A10C5ADD5CCE3D424068E4_documentation_en-US" xlink:label="lab_pnw_RateMatterApprovedBudget_CC91D479D8A10C5ADD5CCE3D424068E4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the amount of approved budget. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterApprovedBudget" xlink:label="loc_pnw_RateMatterApprovedBudget_CC91D479D8A10C5ADD5CCE3D424068E4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterApprovedBudget_CC91D479D8A10C5ADD5CCE3D424068E4" xlink:to="lab_pnw_RateMatterApprovedBudget_CC91D479D8A10C5ADD5CCE3D424068E4" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterCumulativeEnergySavingsForCurrentYearPercentage_958824AC0783E2E106A5CE3D424060F8_terseLabel_en-US" xlink:label="lab_pnw_RateMatterCumulativeEnergySavingsForCurrentYearPercentage_958824AC0783E2E106A5CE3D424060F8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Rate matter, cumulative energy savings for current year percentage </link:label>

<link:label id="lab_pnw_RateMatterCumulativeEnergySavingsForCurrentYearPercentage_958824AC0783E2E106A5CE3D424060F8_label_en-US" xlink:label="lab_pnw_RateMatterCumulativeEnergySavingsForCurrentYearPercentage_958824AC0783E2E106A5CE3D424060F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter, Cumulative Energy Savings for Current Year Percentage </link:label>

<link:label id="lab_pnw_RateMatterCumulativeEnergySavingsForCurrentYearPercentage_958824AC0783E2E106A5CE3D424060F8_documentation_en-US" xlink:label="lab_pnw_RateMatterCumulativeEnergySavingsForCurrentYearPercentage_958824AC0783E2E106A5CE3D424060F8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the percentage of cumulative energy savings for current year. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterCumulativeEnergySavingsForCurrentYearPercentage" xlink:label="loc_pnw_RateMatterCumulativeEnergySavingsForCurrentYearPercentage_958824AC0783E2E106A5CE3D424060F8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterCumulativeEnergySavingsForCurrentYearPercentage_958824AC0783E2E106A5CE3D424060F8" xlink:to="lab_pnw_RateMatterCumulativeEnergySavingsForCurrentYearPercentage_958824AC0783E2E106A5CE3D424060F8" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterNumberofResourceSavingsProjects_A234A6813AA9AC54ADCECE3D42405243_terseLabel_en-US" xlink:label="lab_pnw_RateMatterNumberofResourceSavingsProjects_A234A6813AA9AC54ADCECE3D42405243" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Rate matter number of resource savings projects </link:label>

<link:label id="lab_pnw_RateMatterNumberofResourceSavingsProjects_A234A6813AA9AC54ADCECE3D42405243_label_en-US" xlink:label="lab_pnw_RateMatterNumberofResourceSavingsProjects_A234A6813AA9AC54ADCECE3D42405243" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter, Number of Resource Savings Projects </link:label>

<link:label id="lab_pnw_RateMatterNumberofResourceSavingsProjects_A234A6813AA9AC54ADCECE3D42405243_documentation_en-US" xlink:label="lab_pnw_RateMatterNumberofResourceSavingsProjects_A234A6813AA9AC54ADCECE3D42405243" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Rate Matter, Number of Resource Savings Projects </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterNumberofResourceSavingsProjects" xlink:label="loc_pnw_RateMatterNumberofResourceSavingsProjects_A234A6813AA9AC54ADCECE3D42405243" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterNumberofResourceSavingsProjects_A234A6813AA9AC54ADCECE3D42405243" xlink:to="lab_pnw_RateMatterNumberofResourceSavingsProjects_A234A6813AA9AC54ADCECE3D42405243" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterProposedRateReductionPercentage_8AD2FD39CD68B09041F9CE3D424041FD_terseLabel_en-US" xlink:label="lab_pnw_RateMatterProposedRateReductionPercentage_8AD2FD39CD68B09041F9CE3D424041FD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Rate matter, proposed rate reduction percentage </link:label>

<link:label id="lab_pnw_RateMatterProposedRateReductionPercentage_8AD2FD39CD68B09041F9CE3D424041FD_label_en-US" xlink:label="lab_pnw_RateMatterProposedRateReductionPercentage_8AD2FD39CD68B09041F9CE3D424041FD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter, Proposed Rate Reduction Percentage </link:label>

<link:label id="lab_pnw_RateMatterProposedRateReductionPercentage_8AD2FD39CD68B09041F9CE3D424041FD_documentation_en-US" xlink:label="lab_pnw_RateMatterProposedRateReductionPercentage_8AD2FD39CD68B09041F9CE3D424041FD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Rate Matter, Proposed Rate Reduction Percentage </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterProposedRateReductionPercentage" xlink:label="loc_pnw_RateMatterProposedRateReductionPercentage_8AD2FD39CD68B09041F9CE3D424041FD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterProposedRateReductionPercentage_8AD2FD39CD68B09041F9CE3D424041FD" xlink:to="lab_pnw_RateMatterProposedRateReductionPercentage_8AD2FD39CD68B09041F9CE3D424041FD" xlink:type="arc"/>

<link:label id="lab_pnw_PublicUtilitiesCostEffectiveEnergyEfficiencyProgramsNumberofWorkshops_209559C322E8A4F14E44CE3D42408627_terseLabel_en-US" xlink:label="lab_pnw_PublicUtilitiesCostEffectiveEnergyEfficiencyProgramsNumberofWorkshops_209559C322E8A4F14E44CE3D42408627" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Public utilities, cost effective energy efficiency programs, number of workshops </link:label>

<link:label id="lab_pnw_PublicUtilitiesCostEffectiveEnergyEfficiencyProgramsNumberofWorkshops_209559C322E8A4F14E44CE3D42408627_label_en-US" xlink:label="lab_pnw_PublicUtilitiesCostEffectiveEnergyEfficiencyProgramsNumberofWorkshops_209559C322E8A4F14E44CE3D42408627" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Cost Effective Energy Efficiency Programs, Number of Workshops </link:label>

<link:label id="lab_pnw_PublicUtilitiesCostEffectiveEnergyEfficiencyProgramsNumberofWorkshops_209559C322E8A4F14E44CE3D42408627_documentation_en-US" xlink:label="lab_pnw_PublicUtilitiesCostEffectiveEnergyEfficiencyProgramsNumberofWorkshops_209559C322E8A4F14E44CE3D42408627" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Public Utilities, Cost Effective Energy Efficiency Programs, Number of Workshops </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PublicUtilitiesCostEffectiveEnergyEfficiencyProgramsNumberofWorkshops" xlink:label="loc_pnw_PublicUtilitiesCostEffectiveEnergyEfficiencyProgramsNumberofWorkshops_209559C322E8A4F14E44CE3D42408627" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PublicUtilitiesCostEffectiveEnergyEfficiencyProgramsNumberofWorkshops_209559C322E8A4F14E44CE3D42408627" xlink:to="lab_pnw_PublicUtilitiesCostEffectiveEnergyEfficiencyProgramsNumberofWorkshops_209559C322E8A4F14E44CE3D42408627" xlink:type="arc"/>

<link:label id="lab_pnw_MaximumIncreaseDecreaseinPSARate_C5195DB7470580A753F9CE3D42403B8F_terseLabel_en-US" xlink:label="lab_pnw_MaximumIncreaseDecreaseinPSARate_C5195DB7470580A753F9CE3D42403B8F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maximum increase (decrease) in PSA rate (in dollars per kWh) </link:label>

<link:label id="lab_pnw_MaximumIncreaseDecreaseinPSARate_C5195DB7470580A753F9CE3D42403B8F_label_en-US" xlink:label="lab_pnw_MaximumIncreaseDecreaseinPSARate_C5195DB7470580A753F9CE3D42403B8F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Maximum Increase (Decrease) in PSA Rate </link:label>

<link:label id="lab_pnw_MaximumIncreaseDecreaseinPSARate_C5195DB7470580A753F9CE3D42403B8F_documentation_en-US" xlink:label="lab_pnw_MaximumIncreaseDecreaseinPSARate_C5195DB7470580A753F9CE3D42403B8F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Maximum Increase (Decrease) in PSA Rate </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_MaximumIncreaseDecreaseinPSARate" xlink:label="loc_pnw_MaximumIncreaseDecreaseinPSARate_C5195DB7470580A753F9CE3D42403B8F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_MaximumIncreaseDecreaseinPSARate_C5195DB7470580A753F9CE3D42403B8F" xlink:to="lab_pnw_MaximumIncreaseDecreaseinPSARate_C5195DB7470580A753F9CE3D42403B8F" xlink:type="arc"/>

<link:label id="lab_pnw_PSARate_F95520EDC7D87DCBBB1DCE3D42401E13_terseLabel_en-US" xlink:label="lab_pnw_PSARate_F95520EDC7D87DCBBB1DCE3D42401E13" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> PSA rate (in dollars per kWh) </link:label>

<link:label id="lab_pnw_PSARate_F95520EDC7D87DCBBB1DCE3D42401E13_label_en-US" xlink:label="lab_pnw_PSARate_F95520EDC7D87DCBBB1DCE3D42401E13" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> PSA Rate </link:label>

<link:label id="lab_pnw_PSARate_F95520EDC7D87DCBBB1DCE3D42401E13_documentation_en-US" xlink:label="lab_pnw_PSARate_F95520EDC7D87DCBBB1DCE3D42401E13" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the PSA rate (power supply adjustor) which provides for the adjustment of retail rates to reflect variations in retail fuel and purchased power costs. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PSARate" xlink:label="loc_pnw_PSARate_F95520EDC7D87DCBBB1DCE3D42401E13" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PSARate_F95520EDC7D87DCBBB1DCE3D42401E13" xlink:to="lab_pnw_PSARate_F95520EDC7D87DCBBB1DCE3D42401E13" xlink:type="arc"/>

<link:label id="lab_pnw_ForwardComponentOfPSARate_BB98BBCB68A7CD5F1DB2CE3D4241F4AC_terseLabel_en-US" xlink:label="lab_pnw_ForwardComponentOfPSARate_BB98BBCB68A7CD5F1DB2CE3D4241F4AC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Forward component of PSA rate (in dollars per kWh) </link:label>

<link:label id="lab_pnw_ForwardComponentOfPSARate_BB98BBCB68A7CD5F1DB2CE3D4241F4AC_label_en-US" xlink:label="lab_pnw_ForwardComponentOfPSARate_BB98BBCB68A7CD5F1DB2CE3D4241F4AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Forward Component of PSA Rate </link:label>

<link:label id="lab_pnw_ForwardComponentOfPSARate_BB98BBCB68A7CD5F1DB2CE3D4241F4AC_documentation_en-US" xlink:label="lab_pnw_ForwardComponentOfPSARate_BB98BBCB68A7CD5F1DB2CE3D4241F4AC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the forward component of increase in PSA. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ForwardComponentOfPSARate" xlink:label="loc_pnw_ForwardComponentOfPSARate_BB98BBCB68A7CD5F1DB2CE3D4241F4AC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ForwardComponentOfPSARate_BB98BBCB68A7CD5F1DB2CE3D4241F4AC" xlink:to="lab_pnw_ForwardComponentOfPSARate_BB98BBCB68A7CD5F1DB2CE3D4241F4AC" xlink:type="arc"/>

<link:label id="lab_pnw_HistoricalComponentOfPSARate_281342080086C6FBE43CCE3D42417561_terseLabel_en-US" xlink:label="lab_pnw_HistoricalComponentOfPSARate_281342080086C6FBE43CCE3D42417561" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Historical component of PSA rate (in dollars per kWh) </link:label>

<link:label id="lab_pnw_HistoricalComponentOfPSARate_281342080086C6FBE43CCE3D42417561_label_en-US" xlink:label="lab_pnw_HistoricalComponentOfPSARate_281342080086C6FBE43CCE3D42417561" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Historical Component of PSA Rate </link:label>

<link:label id="lab_pnw_HistoricalComponentOfPSARate_281342080086C6FBE43CCE3D42417561_documentation_en-US" xlink:label="lab_pnw_HistoricalComponentOfPSARate_281342080086C6FBE43CCE3D42417561" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the historical component of increase in PSA. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_HistoricalComponentOfPSARate" xlink:label="loc_pnw_HistoricalComponentOfPSARate_281342080086C6FBE43CCE3D42417561" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_HistoricalComponentOfPSARate_281342080086C6FBE43CCE3D42417561" xlink:to="lab_pnw_HistoricalComponentOfPSARate_281342080086C6FBE43CCE3D42417561" xlink:type="arc"/>

<link:label id="lab_pnw_TransitionComponentofPSARate_ECD092AB9672F07C64A1CE3D4241C73B_terseLabel_en-US" xlink:label="lab_pnw_TransitionComponentofPSARate_ECD092AB9672F07C64A1CE3D4241C73B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Transition component of PSA rate (in dollars per KWh) </link:label>

<link:label id="lab_pnw_TransitionComponentofPSARate_ECD092AB9672F07C64A1CE3D4241C73B_label_en-US" xlink:label="lab_pnw_TransitionComponentofPSARate_ECD092AB9672F07C64A1CE3D4241C73B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Transition Component of PSA Rate </link:label>

<link:label id="lab_pnw_TransitionComponentofPSARate_ECD092AB9672F07C64A1CE3D4241C73B_documentation_en-US" xlink:label="lab_pnw_TransitionComponentofPSARate_ECD092AB9672F07C64A1CE3D4241C73B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Transition Component of PSA Rate </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_TransitionComponentofPSARate" xlink:label="loc_pnw_TransitionComponentofPSARate_ECD092AB9672F07C64A1CE3D4241C73B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_TransitionComponentofPSARate_ECD092AB9672F07C64A1CE3D4241C73B" xlink:to="lab_pnw_TransitionComponentofPSARate_ECD092AB9672F07C64A1CE3D4241C73B" xlink:type="arc"/>

<link:label id="lab_pnw_RateMattersIncreaseInCostRecovery_B1D65683AB01D8382ADECE3D42414429_terseLabel_en-US" xlink:label="lab_pnw_RateMattersIncreaseInCostRecovery_B1D65683AB01D8382ADECE3D42414429" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> increase (decrease) in annual wholesale transmission rates </link:label>

<link:label id="lab_pnw_RateMattersIncreaseInCostRecovery_B1D65683AB01D8382ADECE3D42414429_label_en-US" xlink:label="lab_pnw_RateMattersIncreaseInCostRecovery_B1D65683AB01D8382ADECE3D42414429" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matters, Increase in Cost Recovery </link:label>

<link:label id="lab_pnw_RateMattersIncreaseInCostRecovery_B1D65683AB01D8382ADECE3D42414429_documentation_en-US" xlink:label="lab_pnw_RateMattersIncreaseInCostRecovery_B1D65683AB01D8382ADECE3D42414429" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The increase in annual wholesale transmission rates as a result of a regulatory action. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMattersIncreaseInCostRecovery" xlink:label="loc_pnw_RateMattersIncreaseInCostRecovery_B1D65683AB01D8382ADECE3D42414429" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMattersIncreaseInCostRecovery_B1D65683AB01D8382ADECE3D42414429" xlink:to="lab_pnw_RateMattersIncreaseInCostRecovery_B1D65683AB01D8382ADECE3D42414429" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterFixedCostRecoverablePerResidentialPowerLost_F721BF3BF05E1BF55D8CCE3D42410AEE_terseLabel_en-US" xlink:label="lab_pnw_RateMatterFixedCostRecoverablePerResidentialPowerLost_F721BF3BF05E1BF55D8CCE3D42410AEE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fixed costs recoverable per residential power lost (in dollars per kWh) </link:label>

<link:label id="lab_pnw_RateMatterFixedCostRecoverablePerResidentialPowerLost_F721BF3BF05E1BF55D8CCE3D42410AEE_label_en-US" xlink:label="lab_pnw_RateMatterFixedCostRecoverablePerResidentialPowerLost_F721BF3BF05E1BF55D8CCE3D42410AEE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter, Fixed Cost Recoverable Per Residential Power Lost </link:label>

<link:label id="lab_pnw_RateMatterFixedCostRecoverablePerResidentialPowerLost_F721BF3BF05E1BF55D8CCE3D42410AEE_documentation_en-US" xlink:label="lab_pnw_RateMatterFixedCostRecoverablePerResidentialPowerLost_F721BF3BF05E1BF55D8CCE3D42410AEE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents fixed costs recovered by the LFCR mechanism per residential kWh lost. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterFixedCostRecoverablePerResidentialPowerLost" xlink:label="loc_pnw_RateMatterFixedCostRecoverablePerResidentialPowerLost_F721BF3BF05E1BF55D8CCE3D42410AEE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterFixedCostRecoverablePerResidentialPowerLost_F721BF3BF05E1BF55D8CCE3D42410AEE" xlink:to="lab_pnw_RateMatterFixedCostRecoverablePerResidentialPowerLost_F721BF3BF05E1BF55D8CCE3D42410AEE" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterFixedCostRecoverablePerNonResidentialPowerLost_7535F8356E61A79F43BCCE3D42410AB8_terseLabel_en-US" xlink:label="lab_pnw_RateMatterFixedCostRecoverablePerNonResidentialPowerLost_7535F8356E61A79F43BCCE3D42410AB8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fixed costs recoverable per non-residential power lost (in dollars per kWh) </link:label>

<link:label id="lab_pnw_RateMatterFixedCostRecoverablePerNonResidentialPowerLost_7535F8356E61A79F43BCCE3D42410AB8_label_en-US" xlink:label="lab_pnw_RateMatterFixedCostRecoverablePerNonResidentialPowerLost_7535F8356E61A79F43BCCE3D42410AB8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter, Fixed Cost Recoverable Per Non Residential Power Lost </link:label>

<link:label id="lab_pnw_RateMatterFixedCostRecoverablePerNonResidentialPowerLost_7535F8356E61A79F43BCCE3D42410AB8_documentation_en-US" xlink:label="lab_pnw_RateMatterFixedCostRecoverablePerNonResidentialPowerLost_7535F8356E61A79F43BCCE3D42410AB8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents fixed costs recovered by the LFCR mechanism per non-residential kWh lost. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterFixedCostRecoverablePerNonResidentialPowerLost" xlink:label="loc_pnw_RateMatterFixedCostRecoverablePerNonResidentialPowerLost_7535F8356E61A79F43BCCE3D42410AB8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterFixedCostRecoverablePerNonResidentialPowerLost_7535F8356E61A79F43BCCE3D42410AB8" xlink:to="lab_pnw_RateMatterFixedCostRecoverablePerNonResidentialPowerLost_7535F8356E61A79F43BCCE3D42410AB8" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterCapPercentageOfRetailRevenue_00BE41CD02EA97308F23CE3D4241D3D0_terseLabel_en-US" xlink:label="lab_pnw_RateMatterCapPercentageOfRetailRevenue_00BE41CD02EA97308F23CE3D4241D3D0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Rate matter cap percentage of retail revenue </link:label>

<link:label id="lab_pnw_RateMatterCapPercentageOfRetailRevenue_00BE41CD02EA97308F23CE3D4241D3D0_label_en-US" xlink:label="lab_pnw_RateMatterCapPercentageOfRetailRevenue_00BE41CD02EA97308F23CE3D4241D3D0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter Cap Percentage of Retail Revenue </link:label>

<link:label id="lab_pnw_RateMatterCapPercentageOfRetailRevenue_00BE41CD02EA97308F23CE3D4241D3D0_documentation_en-US" xlink:label="lab_pnw_RateMatterCapPercentageOfRetailRevenue_00BE41CD02EA97308F23CE3D4241D3D0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to cap percentage of retail revenues. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterCapPercentageOfRetailRevenue" xlink:label="loc_pnw_RateMatterCapPercentageOfRetailRevenue_00BE41CD02EA97308F23CE3D4241D3D0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterCapPercentageOfRetailRevenue_00BE41CD02EA97308F23CE3D4241D3D0" xlink:to="lab_pnw_RateMatterCapPercentageOfRetailRevenue_00BE41CD02EA97308F23CE3D4241D3D0" xlink:type="arc"/>

<link:label id="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesApproved_3E409B80837403C6A23FCE43EC1C2EDD_terseLabel_en-US" xlink:label="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesApproved_3E409B80837403C6A23FCE43EC1C2EDD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amount of adjustment approved representing prorated sales losses </link:label>

<link:label id="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesApproved_3E409B80837403C6A23FCE43EC1C2EDD_label_en-US" xlink:label="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesApproved_3E409B80837403C6A23FCE43EC1C2EDD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Amount of Adjustment Representing Prorated Sales Losses Approved </link:label>

<link:label id="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesApproved_3E409B80837403C6A23FCE43EC1C2EDD_documentation_en-US" xlink:label="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesApproved_3E409B80837403C6A23FCE43EC1C2EDD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount of Adjustment Representing Prorated Sales Losses Approved </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AmountofAdjustmentRepresentingProratedSalesLossesApproved" xlink:label="loc_pnw_AmountofAdjustmentRepresentingProratedSalesLossesApproved_3E409B80837403C6A23FCE43EC1C2EDD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AmountofAdjustmentRepresentingProratedSalesLossesApproved_3E409B80837403C6A23FCE43EC1C2EDD" xlink:to="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesApproved_3E409B80837403C6A23FCE43EC1C2EDD" xlink:type="arc"/>

<link:label id="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesPendingApproval_79AD9085282154065CF7CE3D4241B2F4_terseLabel_en-US" xlink:label="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesPendingApproval_79AD9085282154065CF7CE3D4241B2F4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amount of adjustment representing prorated sales losses pending approval </link:label>

<link:label id="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesPendingApproval_79AD9085282154065CF7CE3D4241B2F4_label_en-US" xlink:label="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesPendingApproval_79AD9085282154065CF7CE3D4241B2F4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Amount of Adjustment Representing Prorated Sales Losses Pending Approval </link:label>

<link:label id="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesPendingApproval_79AD9085282154065CF7CE3D4241B2F4_documentation_en-US" xlink:label="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesPendingApproval_79AD9085282154065CF7CE3D4241B2F4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount of Adjustment Representing Prorated Sales Losses Pending Approval </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AmountofAdjustmentRepresentingProratedSalesLossesPendingApproval" xlink:label="loc_pnw_AmountofAdjustmentRepresentingProratedSalesLossesPendingApproval_79AD9085282154065CF7CE3D4241B2F4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AmountofAdjustmentRepresentingProratedSalesLossesPendingApproval_79AD9085282154065CF7CE3D4241B2F4" xlink:to="lab_pnw_AmountofAdjustmentRepresentingProratedSalesLossesPendingApproval_79AD9085282154065CF7CE3D4241B2F4" xlink:type="arc"/>

<link:label id="lab_pnw_IncreaseinAmountofAdjustmentRepresentingProratedSalesLosses_1810BEB63B9CE15B80BFCE3D424621C3_terseLabel_en-US" xlink:label="lab_pnw_IncreaseinAmountofAdjustmentRepresentingProratedSalesLosses_1810BEB63B9CE15B80BFCE3D424621C3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Increase in Amount of Adjustment Representing Prorated Sales Losses </link:label>

<link:label id="lab_pnw_IncreaseinAmountofAdjustmentRepresentingProratedSalesLosses_1810BEB63B9CE15B80BFCE3D424621C3_label_en-US" xlink:label="lab_pnw_IncreaseinAmountofAdjustmentRepresentingProratedSalesLosses_1810BEB63B9CE15B80BFCE3D424621C3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase in Amount of Adjustment Representing Prorated Sales Losses </link:label>

<link:label id="lab_pnw_IncreaseinAmountofAdjustmentRepresentingProratedSalesLosses_1810BEB63B9CE15B80BFCE3D424621C3_documentation_en-US" xlink:label="lab_pnw_IncreaseinAmountofAdjustmentRepresentingProratedSalesLosses_1810BEB63B9CE15B80BFCE3D424621C3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Increase in Amount of Adjustment Representing Prorated Sales Losses </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_IncreaseinAmountofAdjustmentRepresentingProratedSalesLosses" xlink:label="loc_pnw_IncreaseinAmountofAdjustmentRepresentingProratedSalesLosses_1810BEB63B9CE15B80BFCE3D424621C3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_IncreaseinAmountofAdjustmentRepresentingProratedSalesLosses_1810BEB63B9CE15B80BFCE3D424621C3" xlink:to="lab_pnw_IncreaseinAmountofAdjustmentRepresentingProratedSalesLosses_1810BEB63B9CE15B80BFCE3D424621C3" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterChargeOnFutureCustomersWhoInstallRooftopSolarPanels_CB5D4CF815FE773F11D9CE3D424634C7_terseLabel_en-US" xlink:label="lab_pnw_RateMatterChargeOnFutureCustomersWhoInstallRooftopSolarPanels_CB5D4CF815FE773F11D9CE3D424634C7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Charge on future customers who install rooftop solar panels (in dollars per kWh) </link:label>

<link:label id="lab_pnw_RateMatterChargeOnFutureCustomersWhoInstallRooftopSolarPanels_CB5D4CF815FE773F11D9CE3D424634C7_label_en-US" xlink:label="lab_pnw_RateMatterChargeOnFutureCustomersWhoInstallRooftopSolarPanels_CB5D4CF815FE773F11D9CE3D424634C7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter Charge on Future Customers who Install Rooftop Solar Panels </link:label>

<link:label id="lab_pnw_RateMatterChargeOnFutureCustomersWhoInstallRooftopSolarPanels_CB5D4CF815FE773F11D9CE3D424634C7_documentation_en-US" xlink:label="lab_pnw_RateMatterChargeOnFutureCustomersWhoInstallRooftopSolarPanels_CB5D4CF815FE773F11D9CE3D424634C7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the Charge on future customers who install rooftop solar panels under order issued on net metering proposal. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterChargeOnFutureCustomersWhoInstallRooftopSolarPanels" xlink:label="loc_pnw_RateMatterChargeOnFutureCustomersWhoInstallRooftopSolarPanels_CB5D4CF815FE773F11D9CE3D424634C7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterChargeOnFutureCustomersWhoInstallRooftopSolarPanels_CB5D4CF815FE773F11D9CE3D424634C7" xlink:to="lab_pnw_RateMatterChargeOnFutureCustomersWhoInstallRooftopSolarPanels_CB5D4CF815FE773F11D9CE3D424634C7" xlink:type="arc"/>

<link:label id="lab_pnw_RateMatterEstimatedMonthlyCollectionDueToChargeOnFutureCustomersWhoInstallRooftopSolarPanels_3E7ED57894E4362D5F52CE3D424602B4_terseLabel_en-US" xlink:label="lab_pnw_RateMatterEstimatedMonthlyCollectionDueToChargeOnFutureCustomersWhoInstallRooftopSolarPanels_3E7ED57894E4362D5F52CE3D424602B4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Estimated monthly collection due to charge on future customers who install rooftop solar panels </link:label>

<link:label id="lab_pnw_RateMatterEstimatedMonthlyCollectionDueToChargeOnFutureCustomersWhoInstallRooftopSolarPanels_3E7ED57894E4362D5F52CE3D424602B4_label_en-US" xlink:label="lab_pnw_RateMatterEstimatedMonthlyCollectionDueToChargeOnFutureCustomersWhoInstallRooftopSolarPanels_3E7ED57894E4362D5F52CE3D424602B4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rate Matter Estimated Monthly Collection Due to Charge on Future Customers who Install Rooftop Solar Panels </link:label>

<link:label id="lab_pnw_RateMatterEstimatedMonthlyCollectionDueToChargeOnFutureCustomersWhoInstallRooftopSolarPanels_3E7ED57894E4362D5F52CE3D424602B4_documentation_en-US" xlink:label="lab_pnw_RateMatterEstimatedMonthlyCollectionDueToChargeOnFutureCustomersWhoInstallRooftopSolarPanels_3E7ED57894E4362D5F52CE3D424602B4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the amount of estimated monthly collection due to charge on future customers who install rooftop solar panels under order issued on net metering proposal. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RateMatterEstimatedMonthlyCollectionDueToChargeOnFutureCustomersWhoInstallRooftopSolarPanels" xlink:label="loc_pnw_RateMatterEstimatedMonthlyCollectionDueToChargeOnFutureCustomersWhoInstallRooftopSolarPanels_3E7ED57894E4362D5F52CE3D424602B4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RateMatterEstimatedMonthlyCollectionDueToChargeOnFutureCustomersWhoInstallRooftopSolarPanels_3E7ED57894E4362D5F52CE3D424602B4" xlink:to="lab_pnw_RateMatterEstimatedMonthlyCollectionDueToChargeOnFutureCustomersWhoInstallRooftopSolarPanels_3E7ED57894E4362D5F52CE3D424602B4" xlink:type="arc"/>

<link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_688202EF8B8A9258773991C0265857B8_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_688202EF8B8A9258773991C0265857B8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Stock-Based Compensation </link:label>

<link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_688202EF8B8A9258773991C0265857B8_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_688202EF8B8A9258773991C0265857B8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disclosure of Compensation Related Costs, Share-based Payments [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_688202EF8B8A9258773991C0265857B8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_688202EF8B8A9258773991C0265857B8" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_688202EF8B8A9258773991C0265857B8" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfRegulatoryAssetsTable_9490F2D786442B3B6D5EA7972D47A181_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRegulatoryAssetsTable_9490F2D786442B3B6D5EA7972D47A181" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Regulatory Assets [Table] </link:label>

<link:label id="lab_us-gaap_ScheduleOfRegulatoryAssetsTable_9490F2D786442B3B6D5EA7972D47A181_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRegulatoryAssetsTable_9490F2D786442B3B6D5EA7972D47A181" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Regulatory Assets [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRegulatoryAssetsTable" xlink:label="loc_us-gaap_ScheduleOfRegulatoryAssetsTable_9490F2D786442B3B6D5EA7972D47A181" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRegulatoryAssetsTable_9490F2D786442B3B6D5EA7972D47A181" xlink:to="lab_us-gaap_ScheduleOfRegulatoryAssetsTable_9490F2D786442B3B6D5EA7972D47A181" xlink:type="arc"/>

<link:label id="lab_pnw_PensionAndOtherPostRetirementBenefitsMember_5F8D7A63A2D3AE2A9B04A7972D47A5E5_terseLabel_en-US" xlink:label="lab_pnw_PensionAndOtherPostRetirementBenefitsMember_5F8D7A63A2D3AE2A9B04A7972D47A5E5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pension </link:label>

<link:label id="lab_pnw_PensionAndOtherPostRetirementBenefitsMember_5F8D7A63A2D3AE2A9B04A7972D47A5E5_label_en-US" xlink:label="lab_pnw_PensionAndOtherPostRetirementBenefitsMember_5F8D7A63A2D3AE2A9B04A7972D47A5E5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pension and Other Post Retirement Benefits [Member] </link:label>

<link:label id="lab_pnw_PensionAndOtherPostRetirementBenefitsMember_5F8D7A63A2D3AE2A9B04A7972D47A5E5_documentation_en-US" xlink:label="lab_pnw_PensionAndOtherPostRetirementBenefitsMember_5F8D7A63A2D3AE2A9B04A7972D47A5E5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Carrying value of pension and other postretirement benefit costs under current regulatory conditions. These costs are a form of a regulatory asset that are expected to be recoverable through rate adjustments. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PensionAndOtherPostRetirementBenefitsMember" xlink:label="loc_pnw_PensionAndOtherPostRetirementBenefitsMember_5F8D7A63A2D3AE2A9B04A7972D47A5E5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PensionAndOtherPostRetirementBenefitsMember_5F8D7A63A2D3AE2A9B04A7972D47A5E5" xlink:to="lab_pnw_PensionAndOtherPostRetirementBenefitsMember_5F8D7A63A2D3AE2A9B04A7972D47A5E5" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredIncomeTaxChargesMember_30AA3F6C76EE1DD86708A7972D47B3C7_verboseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxChargesMember_30AA3F6C76EE1DD86708A7972D47B3C7" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Income taxes - AFUDC equity </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredIncomeTaxChargesMember" xlink:label="loc_us-gaap_DeferredIncomeTaxChargesMember_30AA3F6C76EE1DD86708A7972D47B3C7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxChargesMember_30AA3F6C76EE1DD86708A7972D47B3C7" xlink:to="lab_us-gaap_DeferredIncomeTaxChargesMember_30AA3F6C76EE1DD86708A7972D47B3C7" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredFuelAndPurchasedPowerMTMCostsMember_1CB46E8A0B37CE40665CA7972D470B10_terseLabel_en-US" xlink:label="lab_pnw_DeferredFuelAndPurchasedPowerMTMCostsMember_1CB46E8A0B37CE40665CA7972D470B10" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred fuel and purchased power - mark-to-market </link:label>

<link:label id="lab_pnw_DeferredFuelAndPurchasedPowerMTMCostsMember_1CB46E8A0B37CE40665CA7972D470B10_label_en-US" xlink:label="lab_pnw_DeferredFuelAndPurchasedPowerMTMCostsMember_1CB46E8A0B37CE40665CA7972D470B10" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Fuel and Purchased Power MTM Costs [Member] </link:label>

<link:label id="lab_pnw_DeferredFuelAndPurchasedPowerMTMCostsMember_1CB46E8A0B37CE40665CA7972D470B10_documentation_en-US" xlink:label="lab_pnw_DeferredFuelAndPurchasedPowerMTMCostsMember_1CB46E8A0B37CE40665CA7972D470B10" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Fuel and purchased power MTM costs incurred that would otherwise be charged to expense. These costs are included in allowable costs for rate making purposes and future revenue will be provided to permit recovery of such incurred costs. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredFuelAndPurchasedPowerMTMCostsMember" xlink:label="loc_pnw_DeferredFuelAndPurchasedPowerMTMCostsMember_1CB46E8A0B37CE40665CA7972D470B10" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredFuelAndPurchasedPowerMTMCostsMember_1CB46E8A0B37CE40665CA7972D470B10" xlink:to="lab_pnw_DeferredFuelAndPurchasedPowerMTMCostsMember_1CB46E8A0B37CE40665CA7972D470B10" xlink:type="arc"/>

<link:label id="lab_pnw_FourCornersCostDeferralMember_51DEC8D9599A2D271500A7972D472F11_terseLabel_en-US" xlink:label="lab_pnw_FourCornersCostDeferralMember_51DEC8D9599A2D271500A7972D472F11" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Four Corners cost deferral </link:label>

<link:label id="lab_pnw_FourCornersCostDeferralMember_51DEC8D9599A2D271500A7972D472F11_label_en-US" xlink:label="lab_pnw_FourCornersCostDeferralMember_51DEC8D9599A2D271500A7972D472F11" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Four Corners Cost Deferral [Member] </link:label>

<link:label id="lab_pnw_FourCornersCostDeferralMember_51DEC8D9599A2D271500A7972D472F11_documentation_en-US" xlink:label="lab_pnw_FourCornersCostDeferralMember_51DEC8D9599A2D271500A7972D472F11" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the regulatory asset under Four Corners cost deferral. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FourCornersCostDeferralMember" xlink:label="loc_pnw_FourCornersCostDeferralMember_51DEC8D9599A2D271500A7972D472F11" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FourCornersCostDeferralMember_51DEC8D9599A2D271500A7972D472F11" xlink:to="lab_pnw_FourCornersCostDeferralMember_51DEC8D9599A2D271500A7972D472F11" xlink:type="arc"/>

<link:label id="lab_us-gaap_InvestmentCreditMember_3AA951587BC68A42A2D1A7972D47E5E3_verboseLabel_en-US" xlink:label="lab_us-gaap_InvestmentCreditMember_3AA951587BC68A42A2D1A7972D47E5E3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Income taxes — investment tax credit basis adjustment </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentCreditMember" xlink:label="loc_us-gaap_InvestmentCreditMember_3AA951587BC68A42A2D1A7972D47E5E3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentCreditMember_3AA951587BC68A42A2D1A7972D47E5E3" xlink:to="lab_us-gaap_InvestmentCreditMember_3AA951587BC68A42A2D1A7972D47E5E3" xlink:type="arc"/>

<link:label id="lab_pnw_LostFixedCostRecoveryMember_6F90E41717E71464E3A1A7972D4790C2_terseLabel_en-US" xlink:label="lab_pnw_LostFixedCostRecoveryMember_6F90E41717E71464E3A1A7972D4790C2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Lost fixed cost recovery </link:label>

<link:label id="lab_pnw_LostFixedCostRecoveryMember_6F90E41717E71464E3A1A7972D4790C2_label_en-US" xlink:label="lab_pnw_LostFixedCostRecoveryMember_6F90E41717E71464E3A1A7972D4790C2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Lost Fixed Cost Recovery [Member] </link:label>

<link:label id="lab_pnw_LostFixedCostRecoveryMember_6F90E41717E71464E3A1A7972D4790C2_documentation_en-US" xlink:label="lab_pnw_LostFixedCostRecoveryMember_6F90E41717E71464E3A1A7972D4790C2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the regulatory asset under lost fixed recovery mechanisms. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LostFixedCostRecoveryMember" xlink:label="loc_pnw_LostFixedCostRecoveryMember_6F90E41717E71464E3A1A7972D4790C2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_LostFixedCostRecoveryMember_6F90E41717E71464E3A1A7972D4790C2" xlink:to="lab_pnw_LostFixedCostRecoveryMember_6F90E41717E71464E3A1A7972D4790C2" xlink:type="arc"/>

<link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_97CA8E714A8F44432216A7972D47C725_verboseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_97CA8E714A8F44432216A7972D47C725" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde VIE </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_97CA8E714A8F44432216A7972D47C725" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_97CA8E714A8F44432216A7972D47C725" xlink:to="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_97CA8E714A8F44432216A7972D47C725" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredCompensationMember_2FEF8BB0989CA244B399A7972D47E309_terseLabel_en-US" xlink:label="lab_pnw_DeferredCompensationMember_2FEF8BB0989CA244B399A7972D47E309" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred compensation </link:label>

<link:label id="lab_pnw_DeferredCompensationMember_2FEF8BB0989CA244B399A7972D47E309_label_en-US" xlink:label="lab_pnw_DeferredCompensationMember_2FEF8BB0989CA244B399A7972D47E309" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Compensation [Member] </link:label>

<link:label id="lab_pnw_DeferredCompensationMember_2FEF8BB0989CA244B399A7972D47E309_documentation_en-US" xlink:label="lab_pnw_DeferredCompensationMember_2FEF8BB0989CA244B399A7972D47E309" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the regulatory asset under deferred compensation arrangements. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredCompensationMember" xlink:label="loc_pnw_DeferredCompensationMember_2FEF8BB0989CA244B399A7972D47E309" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredCompensationMember_2FEF8BB0989CA244B399A7972D47E309" xlink:to="lab_pnw_DeferredCompensationMember_2FEF8BB0989CA244B399A7972D47E309" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredPropertyTaxesMember_4FE2E5E0B71F97D96EDAA7972D47A917_terseLabel_en-US" xlink:label="lab_pnw_DeferredPropertyTaxesMember_4FE2E5E0B71F97D96EDAA7972D47A917" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred property taxes </link:label>

<link:label id="lab_pnw_DeferredPropertyTaxesMember_4FE2E5E0B71F97D96EDAA7972D47A917_label_en-US" xlink:label="lab_pnw_DeferredPropertyTaxesMember_4FE2E5E0B71F97D96EDAA7972D47A917" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Property Taxes [Member] </link:label>

<link:label id="lab_pnw_DeferredPropertyTaxesMember_4FE2E5E0B71F97D96EDAA7972D47A917_documentation_en-US" xlink:label="lab_pnw_DeferredPropertyTaxesMember_4FE2E5E0B71F97D96EDAA7972D47A917" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information pertaining to deferred property taxes. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredPropertyTaxesMember" xlink:label="loc_pnw_DeferredPropertyTaxesMember_4FE2E5E0B71F97D96EDAA7972D47A917" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredPropertyTaxesMember_4FE2E5E0B71F97D96EDAA7972D47A917" xlink:to="lab_pnw_DeferredPropertyTaxesMember_4FE2E5E0B71F97D96EDAA7972D47A917" xlink:type="arc"/>

<link:label id="lab_us-gaap_LossOnReacquiredDebtMember_C45941A6596A002125A8A7972D473588_terseLabel_en-US" xlink:label="lab_us-gaap_LossOnReacquiredDebtMember_C45941A6596A002125A8A7972D473588" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loss on reacquired debt </link:label>

<link:label id="lab_us-gaap_LossOnReacquiredDebtMember_C45941A6596A002125A8A7972D473588_label_en-US" xlink:label="lab_us-gaap_LossOnReacquiredDebtMember_C45941A6596A002125A8A7972D473588" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss on Reacquired Debt [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LossOnReacquiredDebtMember" xlink:label="loc_us-gaap_LossOnReacquiredDebtMember_C45941A6596A002125A8A7972D473588" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossOnReacquiredDebtMember_C45941A6596A002125A8A7972D473588" xlink:to="lab_us-gaap_LossOnReacquiredDebtMember_C45941A6596A002125A8A7972D473588" xlink:type="arc"/>

<link:label id="lab_pnw_TaxExpenseOfMedicareSubsidyMember_76CF9F6A8F80F9388638A7972D47E4DD_terseLabel_en-US" xlink:label="lab_pnw_TaxExpenseOfMedicareSubsidyMember_76CF9F6A8F80F9388638A7972D47E4DD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Tax expense of Medicare subsidy </link:label>

<link:label id="lab_pnw_TaxExpenseOfMedicareSubsidyMember_76CF9F6A8F80F9388638A7972D47E4DD_label_en-US" xlink:label="lab_pnw_TaxExpenseOfMedicareSubsidyMember_76CF9F6A8F80F9388638A7972D47E4DD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Tax Expense of Medicare Subsidy [Member] </link:label>

<link:label id="lab_pnw_TaxExpenseOfMedicareSubsidyMember_76CF9F6A8F80F9388638A7972D47E4DD_documentation_en-US" xlink:label="lab_pnw_TaxExpenseOfMedicareSubsidyMember_76CF9F6A8F80F9388638A7972D47E4DD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the tax expense of Medicare subsidy. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_TaxExpenseOfMedicareSubsidyMember" xlink:label="loc_pnw_TaxExpenseOfMedicareSubsidyMember_76CF9F6A8F80F9388638A7972D47E4DD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_TaxExpenseOfMedicareSubsidyMember_76CF9F6A8F80F9388638A7972D47E4DD" xlink:to="lab_pnw_TaxExpenseOfMedicareSubsidyMember_76CF9F6A8F80F9388638A7972D47E4DD" xlink:type="arc"/>

<link:label id="lab_pnw_TransmissionVegetationManagementMember_B8A978CC67010F1059ECA7972D483A7C_terseLabel_en-US" xlink:label="lab_pnw_TransmissionVegetationManagementMember_B8A978CC67010F1059ECA7972D483A7C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Transmission vegetation management </link:label>

<link:label id="lab_pnw_TransmissionVegetationManagementMember_B8A978CC67010F1059ECA7972D483A7C_label_en-US" xlink:label="lab_pnw_TransmissionVegetationManagementMember_B8A978CC67010F1059ECA7972D483A7C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Transmission Vegetation Management [Member] </link:label>

<link:label id="lab_pnw_TransmissionVegetationManagementMember_B8A978CC67010F1059ECA7972D483A7C_documentation_en-US" xlink:label="lab_pnw_TransmissionVegetationManagementMember_B8A978CC67010F1059ECA7972D483A7C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Anticipated costs associated with transmission vegetation management to maintain the reliability of overhead transmission lines by minimizing vegetation-caused outages. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_TransmissionVegetationManagementMember" xlink:label="loc_pnw_TransmissionVegetationManagementMember_B8A978CC67010F1059ECA7972D483A7C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_TransmissionVegetationManagementMember_B8A978CC67010F1059ECA7972D483A7C" xlink:to="lab_pnw_TransmissionVegetationManagementMember_B8A978CC67010F1059ECA7972D483A7C" xlink:type="arc"/>

<link:label id="lab_pnw_MeadPhoenixTransmissionLineCIACMember_1E70C8445493E4ED27FAA7972D48C9E4_terseLabel_en-US" xlink:label="lab_pnw_MeadPhoenixTransmissionLineCIACMember_1E70C8445493E4ED27FAA7972D48C9E4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Mead-Phoenix transmission line CIAC </link:label>

<link:label id="lab_pnw_MeadPhoenixTransmissionLineCIACMember_1E70C8445493E4ED27FAA7972D48C9E4_label_en-US" xlink:label="lab_pnw_MeadPhoenixTransmissionLineCIACMember_1E70C8445493E4ED27FAA7972D48C9E4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Mead-Phoenix Transmission Line CIAC [Member] </link:label>

<link:label id="lab_pnw_MeadPhoenixTransmissionLineCIACMember_1E70C8445493E4ED27FAA7972D48C9E4_documentation_en-US" xlink:label="lab_pnw_MeadPhoenixTransmissionLineCIACMember_1E70C8445493E4ED27FAA7972D48C9E4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Mead-Phoenix Transmission Line CIAC [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_MeadPhoenixTransmissionLineCIACMember" xlink:label="loc_pnw_MeadPhoenixTransmissionLineCIACMember_1E70C8445493E4ED27FAA7972D48C9E4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_MeadPhoenixTransmissionLineCIACMember_1E70C8445493E4ED27FAA7972D48C9E4" xlink:to="lab_pnw_MeadPhoenixTransmissionLineCIACMember_1E70C8445493E4ED27FAA7972D48C9E4" xlink:type="arc"/>

<link:label id="lab_pnw_CoalReclamationMember_A0973156284C2FD1C387A7972D4837E3_terseLabel_en-US" xlink:label="lab_pnw_CoalReclamationMember_A0973156284C2FD1C387A7972D4837E3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Coal reclamation </link:label>

<link:label id="lab_pnw_CoalReclamationMember_A0973156284C2FD1C387A7972D4837E3_label_en-US" xlink:label="lab_pnw_CoalReclamationMember_A0973156284C2FD1C387A7972D4837E3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Coal Reclamation [Member] </link:label>

<link:label id="lab_pnw_CoalReclamationMember_A0973156284C2FD1C387A7972D4837E3_documentation_en-US" xlink:label="lab_pnw_CoalReclamationMember_A0973156284C2FD1C387A7972D4837E3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Reclamation liability that is associated with a legal obligation for the reclamation of coal properties. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_CoalReclamationMember" xlink:label="loc_pnw_CoalReclamationMember_A0973156284C2FD1C387A7972D4837E3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_CoalReclamationMember_A0973156284C2FD1C387A7972D4837E3" xlink:to="lab_pnw_CoalReclamationMember_A0973156284C2FD1C387A7972D4837E3" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredPensionAndOtherPostRetirementBenefitsMember_9F1C12EBA00CFD44F174A7972D48C582_terseLabel_en-US" xlink:label="lab_pnw_DeferredPensionAndOtherPostRetirementBenefitsMember_9F1C12EBA00CFD44F174A7972D48C582" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pension and other postretirement benefits deferral </link:label>

<link:label id="lab_pnw_DeferredPensionAndOtherPostRetirementBenefitsMember_9F1C12EBA00CFD44F174A7972D48C582_label_en-US" xlink:label="lab_pnw_DeferredPensionAndOtherPostRetirementBenefitsMember_9F1C12EBA00CFD44F174A7972D48C582" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Pension and Other Post Retirement Benefits [Member] </link:label>

<link:label id="lab_pnw_DeferredPensionAndOtherPostRetirementBenefitsMember_9F1C12EBA00CFD44F174A7972D48C582_documentation_en-US" xlink:label="lab_pnw_DeferredPensionAndOtherPostRetirementBenefitsMember_9F1C12EBA00CFD44F174A7972D48C582" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the regulatory asset under deferred pension and other post-retirement benefits. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredPensionAndOtherPostRetirementBenefitsMember" xlink:label="loc_pnw_DeferredPensionAndOtherPostRetirementBenefitsMember_9F1C12EBA00CFD44F174A7972D48C582" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherRegulatoryAssetsLiabilitiesMember_CE9BD40665C083AF6059A7972D48B281_terseLabel_en-US" xlink:label="lab_us-gaap_OtherRegulatoryAssetsLiabilitiesMember_CE9BD40665C083AF6059A7972D48B281" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_OtherRegulatoryAssetsLiabilitiesMember_CE9BD40665C083AF6059A7972D48B281_label_en-US" xlink:label="lab_us-gaap_OtherRegulatoryAssetsLiabilitiesMember_CE9BD40665C083AF6059A7972D48B281" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Regulatory Assets (Liabilities) [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherRegulatoryAssetsLiabilitiesMember" xlink:label="loc_us-gaap_OtherRegulatoryAssetsLiabilitiesMember_CE9BD40665C083AF6059A7972D48B281" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherRegulatoryAssetsLiabilitiesMember_CE9BD40665C083AF6059A7972D48B281" xlink:to="lab_us-gaap_OtherRegulatoryAssetsLiabilitiesMember_CE9BD40665C083AF6059A7972D48B281" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryAssetLineItems_5260ABFD9C82C62DF4B1A7972D48C2E7_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryAssetLineItems_5260ABFD9C82C62DF4B1A7972D48C2E7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Detail of regulatory assets </link:label>

<link:label id="lab_us-gaap_RegulatoryAssetLineItems_5260ABFD9C82C62DF4B1A7972D48C2E7_label_en-US" xlink:label="lab_us-gaap_RegulatoryAssetLineItems_5260ABFD9C82C62DF4B1A7972D48C2E7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Assets [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryAssetLineItems" xlink:label="loc_us-gaap_RegulatoryAssetLineItems_5260ABFD9C82C62DF4B1A7972D48C2E7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryAssetLineItems_5260ABFD9C82C62DF4B1A7972D48C2E7" xlink:to="lab_us-gaap_RegulatoryAssetLineItems_5260ABFD9C82C62DF4B1A7972D48C2E7" xlink:type="arc"/>

<link:label id="lab_pnw_RegulatoryAssetIncludingDeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_5E8B3710F2EBDABD8AAEA7972D482C7C_terseLabel_en-US" xlink:label="lab_pnw_RegulatoryAssetIncludingDeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_5E8B3710F2EBDABD8AAEA7972D482C7C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory assets, current </link:label>

<link:label id="lab_pnw_RegulatoryAssetIncludingDeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_5E8B3710F2EBDABD8AAEA7972D482C7C_label_en-US" xlink:label="lab_pnw_RegulatoryAssetIncludingDeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_5E8B3710F2EBDABD8AAEA7972D482C7C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Asset Including Deferred Fuel and Purchased Power Regulatory Asset Current </link:label>

<link:label id="lab_pnw_RegulatoryAssetIncludingDeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_5E8B3710F2EBDABD8AAEA7972D482C7C_documentation_en-US" xlink:label="lab_pnw_RegulatoryAssetIncludingDeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_5E8B3710F2EBDABD8AAEA7972D482C7C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The amount for the individual regulatory current asset including deferred fuel and purchased power as itemized in a table of regulatory current assets as of the end of the period. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RegulatoryAssetIncludingDeferredFuelAndPurchasedPowerRegulatoryAssetCurrent" xlink:label="loc_pnw_RegulatoryAssetIncludingDeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_5E8B3710F2EBDABD8AAEA7972D482C7C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RegulatoryAssetIncludingDeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_5E8B3710F2EBDABD8AAEA7972D482C7C" xlink:to="lab_pnw_RegulatoryAssetIncludingDeferredFuelAndPurchasedPowerRegulatoryAssetCurrent_5E8B3710F2EBDABD8AAEA7972D482C7C" xlink:type="arc"/>

<link:label id="lab_us-gaap_RegulatoryAssetsNoncurrent_29DCADD4195E4E415969A7972D484BD0_verboseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryAssetsNoncurrent_29DCADD4195E4E415969A7972D484BD0" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory assets, non-current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryAssetsNoncurrent" xlink:label="loc_us-gaap_RegulatoryAssetsNoncurrent_29DCADD4195E4E415969A7972D484BD0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatoryAssetsNoncurrent_29DCADD4195E4E415969A7972D484BD0" xlink:to="lab_us-gaap_RegulatoryAssetsNoncurrent_29DCADD4195E4E415969A7972D484BD0" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_4C9AB144BB333227E1EBE72D996CF527_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_4C9AB144BB333227E1EBE72D996CF527" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Business Acquisitions, by Acquisition [Table] </link:label>

<link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_4C9AB144BB333227E1EBE72D996CF527_label_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_4C9AB144BB333227E1EBE72D996CF527" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Business Acquisitions, by Acquisition [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_4C9AB144BB333227E1EBE72D996CF527" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_4C9AB144BB333227E1EBE72D996CF527" xlink:to="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_4C9AB144BB333227E1EBE72D996CF527" xlink:type="arc"/>

<link:label id="lab_pnw_UnsecuredSeniorNotes2.20PercentMatureon15January2020Member_4824752CA893E2956EA6E72D996C8C33_terseLabel_en-US" xlink:label="lab_pnw_UnsecuredSeniorNotes2.20PercentMatureon15January2020Member_4824752CA893E2956EA6E72D996C8C33" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unsecured senior notes 2.20 percent matures on 15 January, 2020 </link:label>

<link:label id="lab_pnw_UnsecuredSeniorNotes2.20PercentMatureon15January2020Member_4824752CA893E2956EA6E72D996C8C33_label_en-US" xlink:label="lab_pnw_UnsecuredSeniorNotes2.20PercentMatureon15January2020Member_4824752CA893E2956EA6E72D996C8C33" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unsecured Senior Notes 2.20 Percent Mature on 15 January, 2020 [Member] </link:label>

<link:label id="lab_pnw_UnsecuredSeniorNotes2.20PercentMatureon15January2020Member_4824752CA893E2956EA6E72D996C8C33_documentation_en-US" xlink:label="lab_pnw_UnsecuredSeniorNotes2.20PercentMatureon15January2020Member_4824752CA893E2956EA6E72D996C8C33" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Unsecured Senior Notes 2.20 Percent Mature on 15 January, 2020 [Member] [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_UnsecuredSeniorNotes2.20PercentMatureon15January2020Member" xlink:label="loc_pnw_UnsecuredSeniorNotes2.20PercentMatureon15January2020Member_4824752CA893E2956EA6E72D996C8C33" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_UnsecuredSeniorNotes2.20PercentMatureon15January2020Member_4824752CA893E2956EA6E72D996C8C33" xlink:to="lab_pnw_UnsecuredSeniorNotes2.20PercentMatureon15January2020Member_4824752CA893E2956EA6E72D996C8C33" xlink:type="arc"/>

<link:label id="lab_pnw_UnsecuredSeniorNotes3.15PercentMatureon15May2025Member_5215A20F32195CE7E120E72D996C77C9_terseLabel_en-US" xlink:label="lab_pnw_UnsecuredSeniorNotes3.15PercentMatureon15May2025Member_5215A20F32195CE7E120E72D996C77C9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unsecured senior notes 3.15 percent matures on 15 May, 2025 </link:label>

<link:label id="lab_pnw_UnsecuredSeniorNotes3.15PercentMatureon15May2025Member_5215A20F32195CE7E120E72D996C77C9_label_en-US" xlink:label="lab_pnw_UnsecuredSeniorNotes3.15PercentMatureon15May2025Member_5215A20F32195CE7E120E72D996C77C9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unsecured Senior Notes 3.15 Percent Mature on 15 May, 2025 [Member] </link:label>

<link:label id="lab_pnw_UnsecuredSeniorNotes3.15PercentMatureon15May2025Member_5215A20F32195CE7E120E72D996C77C9_documentation_en-US" xlink:label="lab_pnw_UnsecuredSeniorNotes3.15PercentMatureon15May2025Member_5215A20F32195CE7E120E72D996C77C9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Unsecured Senior Notes 3.15 Percent Mature on 15 May, 2025 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_UnsecuredSeniorNotes3.15PercentMatureon15May2025Member" xlink:label="loc_pnw_UnsecuredSeniorNotes3.15PercentMatureon15May2025Member_5215A20F32195CE7E120E72D996C77C9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_UnsecuredSeniorNotes3.15PercentMatureon15May2025Member_5215A20F32195CE7E120E72D996C77C9" xlink:to="lab_pnw_UnsecuredSeniorNotes3.15PercentMatureon15May2025Member_5215A20F32195CE7E120E72D996C77C9" xlink:type="arc"/>

<link:label id="lab_pnw_UnsecuredSeniorNotes4.65PercentMatureon15May2015Member_3BA47228D7930CED2EB6E72D996CD109_terseLabel_en-US" xlink:label="lab_pnw_UnsecuredSeniorNotes4.65PercentMatureon15May2015Member_3BA47228D7930CED2EB6E72D996CD109" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unsecured senior notes 4.65 percent matures on 15 May, 2015 </link:label>

<link:label id="lab_pnw_UnsecuredSeniorNotes4.65PercentMatureon15May2015Member_3BA47228D7930CED2EB6E72D996CD109_label_en-US" xlink:label="lab_pnw_UnsecuredSeniorNotes4.65PercentMatureon15May2015Member_3BA47228D7930CED2EB6E72D996CD109" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unsecured Senior Notes 4.65 Percent Mature on 15 May, 2015 [Member] </link:label>

<link:label id="lab_pnw_UnsecuredSeniorNotes4.65PercentMatureon15May2015Member_3BA47228D7930CED2EB6E72D996CD109_documentation_en-US" xlink:label="lab_pnw_UnsecuredSeniorNotes4.65PercentMatureon15May2015Member_3BA47228D7930CED2EB6E72D996CD109" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Unsecured Senior Notes 4.65 Percent Mature on 15 May, 2015 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_UnsecuredSeniorNotes4.65PercentMatureon15May2015Member" xlink:label="loc_pnw_UnsecuredSeniorNotes4.65PercentMatureon15May2015Member_3BA47228D7930CED2EB6E72D996CD109" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_UnsecuredSeniorNotes4.65PercentMatureon15May2015Member_3BA47228D7930CED2EB6E72D996CD109" xlink:to="lab_pnw_UnsecuredSeniorNotes4.65PercentMatureon15May2015Member_3BA47228D7930CED2EB6E72D996CD109" xlink:type="arc"/>

<link:label id="lab_pnw_ArizonaPollutionControlRevenueRefundingBond2009SeriesBMember_C6BB258EFB2778117191E72D996C9973_terseLabel_en-US" xlink:label="lab_pnw_ArizonaPollutionControlRevenueRefundingBond2009SeriesBMember_C6BB258EFB2778117191E72D996C9973" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Arizona pollution control revenue refunding bond, 2009 series B </link:label>

<link:label id="lab_pnw_ArizonaPollutionControlRevenueRefundingBond2009SeriesBMember_C6BB258EFB2778117191E72D996C9973_label_en-US" xlink:label="lab_pnw_ArizonaPollutionControlRevenueRefundingBond2009SeriesBMember_C6BB258EFB2778117191E72D996C9973" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Arizona Pollution Control Revenue Refunding Bond, 2009 Series B [Member] </link:label>

<link:label id="lab_pnw_ArizonaPollutionControlRevenueRefundingBond2009SeriesBMember_C6BB258EFB2778117191E72D996C9973_documentation_en-US" xlink:label="lab_pnw_ArizonaPollutionControlRevenueRefundingBond2009SeriesBMember_C6BB258EFB2778117191E72D996C9973" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Arizona Pollution Control Revenue Refunding Bond, 2009 Series B [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ArizonaPollutionControlRevenueRefundingBond2009SeriesBMember" xlink:label="loc_pnw_ArizonaPollutionControlRevenueRefundingBond2009SeriesBMember_C6BB258EFB2778117191E72D996C9973" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ArizonaPollutionControlRevenueRefundingBond2009SeriesBMember_C6BB258EFB2778117191E72D996C9973" xlink:to="lab_pnw_ArizonaPollutionControlRevenueRefundingBond2009SeriesBMember_C6BB258EFB2778117191E72D996C9973" xlink:type="arc"/>

<link:label id="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesAMember_F38E50CA4D8E7F665F3BE72D996DFFC5_terseLabel_en-US" xlink:label="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesAMember_F38E50CA4D8E7F665F3BE72D996DFFC5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Arizona pollution control corporation revenue refunding bonds, 2009 series A </link:label>

<link:label id="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesAMember_F38E50CA4D8E7F665F3BE72D996DFFC5_label_en-US" xlink:label="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesAMember_F38E50CA4D8E7F665F3BE72D996DFFC5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Arizona Pollution Control Corporation Revenue Refunding Bonds, 2009 Series A [Member] </link:label>

<link:label id="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesAMember_F38E50CA4D8E7F665F3BE72D996DFFC5_documentation_en-US" xlink:label="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesAMember_F38E50CA4D8E7F665F3BE72D996DFFC5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Arizona Pollution Control Corporation Revenue Refunding Bonds, 2009 Series A [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesAMember" xlink:label="loc_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesAMember_F38E50CA4D8E7F665F3BE72D996DFFC5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesAMember_F38E50CA4D8E7F665F3BE72D996DFFC5" xlink:to="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesAMember_F38E50CA4D8E7F665F3BE72D996DFFC5" xlink:type="arc"/>

<link:label id="lab_pnw_UnsecuredSeniorNotes4.35PercentMatureon15November2045Member_32383D63987E58B5DD17E72D996D2520_terseLabel_en-US" xlink:label="lab_pnw_UnsecuredSeniorNotes4.35PercentMatureon15November2045Member_32383D63987E58B5DD17E72D996D2520" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unsecured senior notes 4.35 percent mature on 15 November, 2020 </link:label>

<link:label id="lab_pnw_UnsecuredSeniorNotes4.35PercentMatureon15November2045Member_32383D63987E58B5DD17E72D996D2520_label_en-US" xlink:label="lab_pnw_UnsecuredSeniorNotes4.35PercentMatureon15November2045Member_32383D63987E58B5DD17E72D996D2520" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unsecured Senior Notes 4.35 Percent Mature on 15 November, 2045 [Member] </link:label>

<link:label id="lab_pnw_UnsecuredSeniorNotes4.35PercentMatureon15November2045Member_32383D63987E58B5DD17E72D996D2520_documentation_en-US" xlink:label="lab_pnw_UnsecuredSeniorNotes4.35PercentMatureon15November2045Member_32383D63987E58B5DD17E72D996D2520" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Unsecured Senior Notes 4.35 Percent Mature on 15 November, 2045 [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_UnsecuredSeniorNotes4.35PercentMatureon15November2045Member" xlink:label="loc_pnw_UnsecuredSeniorNotes4.35PercentMatureon15November2045Member_32383D63987E58B5DD17E72D996D2520" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_UnsecuredSeniorNotes4.35PercentMatureon15November2045Member_32383D63987E58B5DD17E72D996D2520" xlink:to="lab_pnw_UnsecuredSeniorNotes4.35PercentMatureon15November2045Member_32383D63987E58B5DD17E72D996D2520" xlink:type="arc"/>

<link:label id="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesCMember_CEDBF903438442131126E72D996DDA43_terseLabel_en-US" xlink:label="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesCMember_CEDBF903438442131126E72D996DDA43" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Arizona pollution control corporation revenue refunding bonds, 2009 series C </link:label>

<link:label id="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesCMember_CEDBF903438442131126E72D996DDA43_label_en-US" xlink:label="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesCMember_CEDBF903438442131126E72D996DDA43" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Arizona Pollution Control Corporation Revenue Refunding Bonds, 2009 Series C [Member] </link:label>

<link:label id="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesCMember_CEDBF903438442131126E72D996DDA43_documentation_en-US" xlink:label="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesCMember_CEDBF903438442131126E72D996DDA43" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Arizona Pollution Control Corporation Revenue Refunding Bonds, 2009 Series C [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesCMember" xlink:label="loc_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesCMember_CEDBF903438442131126E72D996DDA43" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesCMember_CEDBF903438442131126E72D996DDA43" xlink:to="lab_pnw_ArizonaPollutionControlCorporationRevenueRefundingBonds2009SeriesCMember_CEDBF903438442131126E72D996DDA43" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongtermDebtTypeAxis_69904FD363224067C710E72D996D1202_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis_69904FD363224067C710E72D996D1202" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Type [Axis] </link:label>

<link:label id="lab_us-gaap_LongtermDebtTypeAxis_69904FD363224067C710E72D996D1202_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis_69904FD363224067C710E72D996D1202" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Type [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_69904FD363224067C710E72D996D1202" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_69904FD363224067C710E72D996D1202" xlink:to="lab_us-gaap_LongtermDebtTypeAxis_69904FD363224067C710E72D996D1202" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongtermDebtTypeDomain_D626A6268788B245E85EE72D996DD0E3_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain_D626A6268788B245E85EE72D996DD0E3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Type [Domain] </link:label>

<link:label id="lab_us-gaap_LongtermDebtTypeDomain_D626A6268788B245E85EE72D996DD0E3_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain_D626A6268788B245E85EE72D996DD0E3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Type [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_D626A6268788B245E85EE72D996DD0E3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_D626A6268788B245E85EE72D996DD0E3" xlink:to="lab_us-gaap_LongtermDebtTypeDomain_D626A6268788B245E85EE72D996DD0E3" xlink:type="arc"/>

<link:label id="lab_us-gaap_SeniorNotesMember_D1E6CEC46F585AB29CB6E72D996D6ECF_terseLabel_en-US" xlink:label="lab_us-gaap_SeniorNotesMember_D1E6CEC46F585AB29CB6E72D996D6ECF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Senior notes </link:label>

<link:label id="lab_us-gaap_SeniorNotesMember_D1E6CEC46F585AB29CB6E72D996D6ECF_label_en-US" xlink:label="lab_us-gaap_SeniorNotesMember_D1E6CEC46F585AB29CB6E72D996D6ECF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Senior Notes [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SeniorNotesMember" xlink:label="loc_us-gaap_SeniorNotesMember_D1E6CEC46F585AB29CB6E72D996D6ECF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeniorNotesMember_D1E6CEC46F585AB29CB6E72D996D6ECF" xlink:to="lab_us-gaap_SeniorNotesMember_D1E6CEC46F585AB29CB6E72D996D6ECF" xlink:type="arc"/>

<link:label id="lab_pnw_CurrentMaturitiesofLongtermDebtMember_A9D90B136CDE3174C93FE72D996DBD16_terseLabel_en-US" xlink:label="lab_pnw_CurrentMaturitiesofLongtermDebtMember_A9D90B136CDE3174C93FE72D996DBD16" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Current maturities of long-term debt </link:label>

<link:label id="lab_pnw_CurrentMaturitiesofLongtermDebtMember_A9D90B136CDE3174C93FE72D996DBD16_label_en-US" xlink:label="lab_pnw_CurrentMaturitiesofLongtermDebtMember_A9D90B136CDE3174C93FE72D996DBD16" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Current Maturities of Long-term Debt [Member] </link:label>

<link:label id="lab_pnw_CurrentMaturitiesofLongtermDebtMember_A9D90B136CDE3174C93FE72D996DBD16_documentation_en-US" xlink:label="lab_pnw_CurrentMaturitiesofLongtermDebtMember_A9D90B136CDE3174C93FE72D996DBD16" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Current Maturities of Long-term Debt [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_CurrentMaturitiesofLongtermDebtMember" xlink:label="loc_pnw_CurrentMaturitiesofLongtermDebtMember_A9D90B136CDE3174C93FE72D996DBD16" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_CurrentMaturitiesofLongtermDebtMember_A9D90B136CDE3174C93FE72D996DBD16" xlink:to="lab_pnw_CurrentMaturitiesofLongtermDebtMember_A9D90B136CDE3174C93FE72D996DBD16" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtInstrumentFaceAmount_DEA4902EA5873B68C46AE72D996E0EA4_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_DEA4902EA5873B68C46AE72D996E0EA4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Notes issued </link:label>

<link:label id="lab_us-gaap_DebtInstrumentFaceAmount_DEA4902EA5873B68C46AE72D996E0EA4_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_DEA4902EA5873B68C46AE72D996E0EA4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Face Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount_DEA4902EA5873B68C46AE72D996E0EA4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFaceAmount_DEA4902EA5873B68C46AE72D996E0EA4" xlink:to="lab_us-gaap_DebtInstrumentFaceAmount_DEA4902EA5873B68C46AE72D996E0EA4" xlink:type="arc"/>

<link:label id="lab_us-gaap_RepaymentsOfLongTermDebt_A756E44DECDA723F19E6E72D996EDB4C_terseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt_A756E44DECDA723F19E6E72D996EDB4C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Repayments of long-term debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebt_A756E44DECDA723F19E6E72D996EDB4C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfLongTermDebt_A756E44DECDA723F19E6E72D996EDB4C" xlink:to="lab_us-gaap_RepaymentsOfLongTermDebt_A756E44DECDA723F19E6E72D996EDB4C" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtInstrumentRepurchasedFaceAmount_AC1A8B0AA678A4F0B913E72D996E6B53_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRepurchasedFaceAmount_AC1A8B0AA678A4F0B913E72D996E6B53" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Principal balance repaid </link:label>

<link:label id="lab_us-gaap_DebtInstrumentRepurchasedFaceAmount_AC1A8B0AA678A4F0B913E72D996E6B53_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRepurchasedFaceAmount_AC1A8B0AA678A4F0B913E72D996E6B53" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Repurchased Face Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentRepurchasedFaceAmount" xlink:label="loc_us-gaap_DebtInstrumentRepurchasedFaceAmount_AC1A8B0AA678A4F0B913E72D996E6B53" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRepurchasedFaceAmount_AC1A8B0AA678A4F0B913E72D996E6B53" xlink:to="lab_us-gaap_DebtInstrumentRepurchasedFaceAmount_AC1A8B0AA678A4F0B913E72D996E6B53" xlink:type="arc"/>

<link:label id="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatio_8DEF9984C90C636BB2D2E72D996EC0B7_terseLabel_en-US" xlink:label="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatio_8DEF9984C90C636BB2D2E72D996EC0B7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Ratio of consolidated debt to consolidated capitalization (as a percent) </link:label>

<link:label id="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatio_8DEF9984C90C636BB2D2E72D996EC0B7_label_en-US" xlink:label="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatio_8DEF9984C90C636BB2D2E72D996EC0B7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Covenant Consolidated Debt to Total Consolidated Capitalization Ratio </link:label>

<link:label id="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatio_8DEF9984C90C636BB2D2E72D996EC0B7_documentation_en-US" xlink:label="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatio_8DEF9984C90C636BB2D2E72D996EC0B7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The consolidated debt to total consolidated capitalization ratio, which the entity is required to maintain pursuant to a debt covenant. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatio" xlink:label="loc_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatio_8DEF9984C90C636BB2D2E72D996EC0B7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatio_8DEF9984C90C636BB2D2E72D996EC0B7" xlink:to="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatio_8DEF9984C90C636BB2D2E72D996EC0B7" xlink:type="arc"/>

<link:label id="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatioActual_01E4A7162828FD25CF24E72D996EEB8E_terseLabel_en-US" xlink:label="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatioActual_01E4A7162828FD25CF24E72D996EEB8E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Actual ratio of consolidated debt to total consolidated capitalization required to be maintained as per the debt covenant (as a percent) </link:label>

<link:label id="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatioActual_01E4A7162828FD25CF24E72D996EEB8E_label_en-US" xlink:label="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatioActual_01E4A7162828FD25CF24E72D996EEB8E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Covenant Consolidated Debt to Total Consolidated Capitalization Ratio Actual </link:label>

<link:label id="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatioActual_01E4A7162828FD25CF24E72D996EEB8E_documentation_en-US" xlink:label="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatioActual_01E4A7162828FD25CF24E72D996EEB8E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The actual consolidated debt to total consolidated capitalization ratio, which the entity is required to maintain pursuant to a debt covenant. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatioActual" xlink:label="loc_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatioActual_01E4A7162828FD25CF24E72D996EEB8E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatioActual_01E4A7162828FD25CF24E72D996EEB8E" xlink:to="lab_pnw_DebtInstrumentCovenantConsolidatedDebtToTotalConsolidatedCapitalizationRatioActual_01E4A7162828FD25CF24E72D996EEB8E" xlink:type="arc"/>

<link:label id="lab_pnw_PublicUtilityOrderCommonStockholdersEquityRatio_6FBB29232C2816BEA41AE72D996E0F30_terseLabel_en-US" xlink:label="lab_pnw_PublicUtilityOrderCommonStockholdersEquityRatio_6FBB29232C2816BEA41AE72D996E0F30" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Required common equity ratio ordered by ACC (as a percent) (at least) </link:label>

<link:label id="lab_pnw_PublicUtilityOrderCommonStockholdersEquityRatio_6FBB29232C2816BEA41AE72D996E0F30_label_en-US" xlink:label="lab_pnw_PublicUtilityOrderCommonStockholdersEquityRatio_6FBB29232C2816BEA41AE72D996E0F30" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utility Order Common Stockholders Equity Ratio </link:label>

<link:label id="lab_pnw_PublicUtilityOrderCommonStockholdersEquityRatio_6FBB29232C2816BEA41AE72D996E0F30_documentation_en-US" xlink:label="lab_pnw_PublicUtilityOrderCommonStockholdersEquityRatio_6FBB29232C2816BEA41AE72D996E0F30" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The common equity ratio (defined as the total shareholder equity divided by the sum of total shareholder equity and long-term debt, including current maturities of long-term debt), which the entity is required to maintain pursuant to an order from a regulatory authority. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PublicUtilityOrderCommonStockholdersEquityRatio" xlink:label="loc_pnw_PublicUtilityOrderCommonStockholdersEquityRatio_6FBB29232C2816BEA41AE72D996E0F30" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PublicUtilityOrderCommonStockholdersEquityRatio_6FBB29232C2816BEA41AE72D996E0F30" xlink:to="lab_pnw_PublicUtilityOrderCommonStockholdersEquityRatio_6FBB29232C2816BEA41AE72D996E0F30" xlink:type="arc"/>

<link:label id="lab_us-gaap_StockholdersEquity_EF37B96365EB96302CDAE72D996E5CF0_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity_EF37B96365EB96302CDAE72D996E5CF0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total shareholder equity </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity_EF37B96365EB96302CDAE72D996E5CF0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity_EF37B96365EB96302CDAE72D996E5CF0" xlink:to="lab_us-gaap_StockholdersEquity_EF37B96365EB96302CDAE72D996E5CF0" xlink:type="arc"/>

<link:label id="lab_pnw_ShareholderEquityAndLongTermDebtAndCurrentMaturities_23EBF8AD4D90BCE28812E72D996E4441_terseLabel_en-US" xlink:label="lab_pnw_ShareholderEquityAndLongTermDebtAndCurrentMaturities_23EBF8AD4D90BCE28812E72D996E4441" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total capitalization </link:label>

<link:label id="lab_pnw_ShareholderEquityAndLongTermDebtAndCurrentMaturities_23EBF8AD4D90BCE28812E72D996E4441_label_en-US" xlink:label="lab_pnw_ShareholderEquityAndLongTermDebtAndCurrentMaturities_23EBF8AD4D90BCE28812E72D996E4441" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Shareholder Equity and Long Term Debt and Current Maturities </link:label>

<link:label id="lab_pnw_ShareholderEquityAndLongTermDebtAndCurrentMaturities_23EBF8AD4D90BCE28812E72D996E4441_documentation_en-US" xlink:label="lab_pnw_ShareholderEquityAndLongTermDebtAndCurrentMaturities_23EBF8AD4D90BCE28812E72D996E4441" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The sum of total shareholder equity and long-term debt less current maturities, including a portion of APS' current maturities of long-term debt. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ShareholderEquityAndLongTermDebtAndCurrentMaturities" xlink:label="loc_pnw_ShareholderEquityAndLongTermDebtAndCurrentMaturities_23EBF8AD4D90BCE28812E72D996E4441" xlink:type="locator"/>

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<link:label id="lab_pnw_PublicUtilityOrderDividendRestrictionsShareholderEquity_2C662A4041DC1418A5AAE72D996E3E1E_terseLabel_en-US" xlink:label="lab_pnw_PublicUtilityOrderDividendRestrictionsShareholderEquity_2C662A4041DC1418A5AAE72D996E3E1E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Dividend restrictions, shareholder equity required </link:label>

<link:label id="lab_pnw_PublicUtilityOrderDividendRestrictionsShareholderEquity_2C662A4041DC1418A5AAE72D996E3E1E_label_en-US" xlink:label="lab_pnw_PublicUtilityOrderDividendRestrictionsShareholderEquity_2C662A4041DC1418A5AAE72D996E3E1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utility Order Dividend Restrictions Shareholder Equity </link:label>

<link:label id="lab_pnw_PublicUtilityOrderDividendRestrictionsShareholderEquity_2C662A4041DC1418A5AAE72D996E3E1E_documentation_en-US" xlink:label="lab_pnw_PublicUtilityOrderDividendRestrictionsShareholderEquity_2C662A4041DC1418A5AAE72D996E3E1E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The amount of total shareholder equity required in order for the entity to pay dividends pursuant to an order from a regulatory authority. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PublicUtilityOrderDividendRestrictionsShareholderEquity" xlink:label="loc_pnw_PublicUtilityOrderDividendRestrictionsShareholderEquity_2C662A4041DC1418A5AAE72D996E3E1E" xlink:type="locator"/>

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<link:label id="lab_pnw_PublicUtilityOrderLongTermDebtAuthorization_91CFB9BD66AE65FFE2DBE72D996EFEE8_terseLabel_en-US" xlink:label="lab_pnw_PublicUtilityOrderLongTermDebtAuthorization_91CFB9BD66AE65FFE2DBE72D996EFEE8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Long term debt authorization </link:label>

<link:label id="lab_pnw_PublicUtilityOrderLongTermDebtAuthorization_91CFB9BD66AE65FFE2DBE72D996EFEE8_label_en-US" xlink:label="lab_pnw_PublicUtilityOrderLongTermDebtAuthorization_91CFB9BD66AE65FFE2DBE72D996EFEE8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utility Order Long Term Debt, Authorization </link:label>

<link:label id="lab_pnw_PublicUtilityOrderLongTermDebtAuthorization_91CFB9BD66AE65FFE2DBE72D996EFEE8_documentation_en-US" xlink:label="lab_pnw_PublicUtilityOrderLongTermDebtAuthorization_91CFB9BD66AE65FFE2DBE72D996EFEE8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the long-term debt authorization pursuant to an order from a regulatory authority. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PublicUtilityOrderLongTermDebtAuthorization" xlink:label="loc_pnw_PublicUtilityOrderLongTermDebtAuthorization_91CFB9BD66AE65FFE2DBE72D996EFEE8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PublicUtilityOrderLongTermDebtAuthorization_91CFB9BD66AE65FFE2DBE72D996EFEE8" xlink:to="lab_pnw_PublicUtilityOrderLongTermDebtAuthorization_91CFB9BD66AE65FFE2DBE72D996EFEE8" xlink:type="arc"/>

<link:label id="lab_us-gaap_ComprehensiveIncomeNoteTextBlock_6B9F9D7B4D816F5CC968807F89199E56_terseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNoteTextBlock_6B9F9D7B4D816F5CC968807F89199E56" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Changes in Accumulated Other Comprehensive Loss </link:label>

<link:label id="lab_us-gaap_ComprehensiveIncomeNoteTextBlock_6B9F9D7B4D816F5CC968807F89199E56_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNoteTextBlock_6B9F9D7B4D816F5CC968807F89199E56" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Comprehensive Income (Loss) Note [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ComprehensiveIncomeNoteTextBlock" xlink:label="loc_us-gaap_ComprehensiveIncomeNoteTextBlock_6B9F9D7B4D816F5CC968807F89199E56" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNoteTextBlock_6B9F9D7B4D816F5CC968807F89199E56" xlink:to="lab_us-gaap_ComprehensiveIncomeNoteTextBlock_6B9F9D7B4D816F5CC968807F89199E56" xlink:type="arc"/>

<link:label id="lab_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_348ABC35E5F6EEAD63F691C027A1AA74_terseLabel_en-US" xlink:label="lab_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_348ABC35E5F6EEAD63F691C027A1AA74" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> CONDENSED FINANCIAL INFORMATION OF REGISTRANT </link:label>

<link:label id="lab_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_348ABC35E5F6EEAD63F691C027A1AA74_label_en-US" xlink:label="lab_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_348ABC35E5F6EEAD63F691C027A1AA74" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Condensed Financial Information of Parent Company Only Disclosure [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:label="loc_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_348ABC35E5F6EEAD63F691C027A1AA74" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_348ABC35E5F6EEAD63F691C027A1AA74" xlink:to="lab_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_348ABC35E5F6EEAD63F691C027A1AA74" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_02536BC055C7E210039091C027350824_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_02536BC055C7E210039091C027350824" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amounts relating to the VIEs included in Consolidated Balance Sheets </link:label>

<link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_02536BC055C7E210039091C027350824_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_02536BC055C7E210039091C027350824" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Variable Interest Entities [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_02536BC055C7E210039091C027350824" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_02536BC055C7E210039091C027350824" xlink:to="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_02536BC055C7E210039091C027350824" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock_A39C6E91F4FB7E44C09291C025AB6A50_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock_A39C6E91F4FB7E44C09291C025AB6A50" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of consolidated credit facilities and amounts available and outstanding </link:label>

<link:label id="lab_us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock_A39C6E91F4FB7E44C09291C025AB6A50_label_en-US" xlink:label="lab_us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock_A39C6E91F4FB7E44C09291C025AB6A50" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Line of Credit Facilities [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock" xlink:label="loc_us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock_A39C6E91F4FB7E44C09291C025AB6A50" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock_A39C6E91F4FB7E44C09291C025AB6A50" xlink:to="lab_us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock_A39C6E91F4FB7E44C09291C025AB6A50" xlink:type="arc"/>

<link:label id="lab_pnw_LinesofCreditandShortTermBorrowingsAbstract_9B48130E0A0290AF1AB7CC7A1082EF98_label_en-US" xlink:label="lab_pnw_LinesofCreditandShortTermBorrowingsAbstract_9B48130E0A0290AF1AB7CC7A1082EF98" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Lines of Credit and Short-Term Borrowings [Abstract] </link:label>

<link:label id="lab_pnw_LinesofCreditandShortTermBorrowingsAbstract_9B48130E0A0290AF1AB7CC7A1082EF98_documentation_en-US" xlink:label="lab_pnw_LinesofCreditandShortTermBorrowingsAbstract_9B48130E0A0290AF1AB7CC7A1082EF98" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Lines of Credit and Short-Term Borrowings [Abstract] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_LinesofCreditandShortTermBorrowingsAbstract" xlink:label="loc_pnw_LinesofCreditandShortTermBorrowingsAbstract_9B48130E0A0290AF1AB7CC7A1082EF98" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_LinesofCreditandShortTermBorrowingsAbstract_9B48130E0A0290AF1AB7CC7A1082EF98" xlink:to="lab_pnw_LinesofCreditandShortTermBorrowingsAbstract_9B48130E0A0290AF1AB7CC7A1082EF98" xlink:type="arc"/>

<link:label id="lab_us-gaap_CommercialPaper_42A022A68CCBC2907AEECC7A1083187B_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_CommercialPaper_42A022A68CCBC2907AEECC7A1083187B" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Commercial paper </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommercialPaper" xlink:label="loc_us-gaap_CommercialPaper_42A022A68CCBC2907AEECC7A1083187B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommercialPaper_42A022A68CCBC2907AEECC7A1083187B" xlink:to="lab_us-gaap_CommercialPaper_42A022A68CCBC2907AEECC7A1083187B" xlink:type="arc"/>

<link:label id="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_BD2D97C2BBF3CC491D84CC7A1083E828_totalLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_BD2D97C2BBF3CC491D84CC7A1083E828" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Unused amount </link:label>

<link:label id="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_BD2D97C2BBF3CC491D84CC7A1083E828_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_BD2D97C2BBF3CC491D84CC7A1083E828" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line of Credit Facility, Remaining Borrowing Capacity </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_BD2D97C2BBF3CC491D84CC7A1083E828" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_BD2D97C2BBF3CC491D84CC7A1083E828" xlink:to="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_BD2D97C2BBF3CC491D84CC7A1083E828" xlink:type="arc"/>

<link:label id="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_753C5AADF0EA046F91EECC7A10839999_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_753C5AADF0EA046F91EECC7A10839999" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commitment fees (as a percent) </link:label>

<link:label id="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_753C5AADF0EA046F91EECC7A10839999_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_753C5AADF0EA046F91EECC7A10839999" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line of Credit Facility, Unused Capacity, Commitment Fee Percentage </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:label="loc_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_753C5AADF0EA046F91EECC7A10839999" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward_A87D8BACE4324C4A26ADECCAED4D7ED4_terseLabel_en-US" xlink:label="lab_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward_A87D8BACE4324C4A26ADECCAED4D7ED4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Tabular reconciliation of the total amounts of unrecognized tax benefits, excluding interest and penalties, at the beginning and end of the year </link:label>

<link:label id="lab_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward_A87D8BACE4324C4A26ADECCAED4D7ED4_label_en-US" xlink:label="lab_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward_A87D8BACE4324C4A26ADECCAED4D7ED4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward" xlink:label="loc_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward_A87D8BACE4324C4A26ADECCAED4D7ED4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward_A87D8BACE4324C4A26ADECCAED4D7ED4" xlink:to="lab_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward_A87D8BACE4324C4A26ADECCAED4D7ED4" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnrecognizedTaxBenefits_B2F540271FA0B50BAC05ECCAED4DC99E_periodStartLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefits_B2F540271FA0B50BAC05ECCAED4DC99E" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Total unrecognized tax benefits, beginning of the year </link:label>

<link:label id="lab_us-gaap_UnrecognizedTaxBenefits_B2F540271FA0B50BAC05ECCAED4DC99E_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefits_B2F540271FA0B50BAC05ECCAED4DC99E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecognized Tax Benefits </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefits" xlink:label="loc_us-gaap_UnrecognizedTaxBenefits_B2F540271FA0B50BAC05ECCAED4DC99E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions_27FB93202863EBEAC242ECCAED4DA2B9_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions_27FB93202863EBEAC242ECCAED4DA2B9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additions for tax positions of the current year </link:label>

<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions_27FB93202863EBEAC242ECCAED4DA2B9_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions_27FB93202863EBEAC242ECCAED4DA2B9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions_27FB93202863EBEAC242ECCAED4DA2B9" xlink:type="locator"/>

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<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_FB15567AF179A40AE37BECCAED4E701D_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_FB15567AF179A40AE37BECCAED4E701D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additions for tax positions of prior years </link:label>

<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_FB15567AF179A40AE37BECCAED4E701D_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_FB15567AF179A40AE37BECCAED4E701D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions </link:label>

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<link:label id="lab_pnw_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositionsAbstract_02FC1DBAF8E187CB3368ECCAED4EEC98_terseLabel_en-US" xlink:label="lab_pnw_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositionsAbstract_02FC1DBAF8E187CB3368ECCAED4EEC98" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Reductions for tax positions of prior years for: </link:label>

<link:label id="lab_pnw_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositionsAbstract_02FC1DBAF8E187CB3368ECCAED4EEC98_label_en-US" xlink:label="lab_pnw_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositionsAbstract_02FC1DBAF8E187CB3368ECCAED4EEC98" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecognized Tax Benefits Decreases Resulting from Prior Period Tax Positions [Abstract] </link:label>

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<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions_74634305D81BDB323871ECCAED4EAF39_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions_74634305D81BDB323871ECCAED4EAF39" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Changes in judgment </link:label>

<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions_74634305D81BDB323871ECCAED4EAF39_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions_74634305D81BDB323871ECCAED4EAF39" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions_74634305D81BDB323871ECCAED4EAF39" xlink:type="locator"/>

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<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities_FD8200C1B23CBCD9E849ECCAED4E3997_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities_FD8200C1B23CBCD9E849ECCAED4E3997" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Settlements with taxing authorities </link:label>

<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities_FD8200C1B23CBCD9E849ECCAED4E3997_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities_FD8200C1B23CBCD9E849ECCAED4E3997" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities_FD8200C1B23CBCD9E849ECCAED4E3997" xlink:type="locator"/>

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<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_C035DE27C2FE28544205ECCAED4EAD46_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_C035DE27C2FE28544205ECCAED4EAD46" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Lapses of applicable statute of limitations </link:label>

<link:label id="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_C035DE27C2FE28544205ECCAED4EAD46_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_C035DE27C2FE28544205ECCAED4EAD46" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_C035DE27C2FE28544205ECCAED4EAD46" xlink:type="locator"/>

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<link:label id="lab_us-gaap_UnrecognizedTaxBenefits_30D44F0DF71A2059EF79ECCAED4EFDD2_periodEndLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefits_30D44F0DF71A2059EF79ECCAED4EFDD2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Total unrecognized tax benefits, end of the year </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefits" xlink:label="loc_us-gaap_UnrecognizedTaxBenefits_30D44F0DF71A2059EF79ECCAED4EFDD2" xlink:type="locator"/>

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<link:label id="lab_us-gaap_BusinessAcquisitionAxis_B52552C6CCF67F38EDCEC902860D1595_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis_B52552C6CCF67F38EDCEC902860D1595" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Business Acquisition [Axis] </link:label>

<link:label id="lab_us-gaap_BusinessAcquisitionAxis_B52552C6CCF67F38EDCEC902860D1595_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis_B52552C6CCF67F38EDCEC902860D1595" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Acquisition [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_B52552C6CCF67F38EDCEC902860D1595" xlink:type="locator"/>

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<link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_41F8FFF16F5FBADDB53BC902860D6326_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain_41F8FFF16F5FBADDB53BC902860D6326" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Business Acquisition, Acquiree [Domain] </link:label>

<link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_41F8FFF16F5FBADDB53BC902860D6326_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain_41F8FFF16F5FBADDB53BC902860D6326" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Acquisition, Acquiree [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_41F8FFF16F5FBADDB53BC902860D6326" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_41F8FFF16F5FBADDB53BC902860D6326" xlink:to="lab_us-gaap_BusinessAcquisitionAcquireeDomain_41F8FFF16F5FBADDB53BC902860D6326" xlink:type="arc"/>

<link:label id="lab_pnw_SouthernCaliforniaEdisonCompanyMember_6AAB7EA3A677D6F52982C902860DAED8_terseLabel_en-US" xlink:label="lab_pnw_SouthernCaliforniaEdisonCompanyMember_6AAB7EA3A677D6F52982C902860DAED8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> SCE </link:label>

<link:label id="lab_pnw_SouthernCaliforniaEdisonCompanyMember_6AAB7EA3A677D6F52982C902860DAED8_label_en-US" xlink:label="lab_pnw_SouthernCaliforniaEdisonCompanyMember_6AAB7EA3A677D6F52982C902860DAED8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Southern California Edison Company [Member] </link:label>

<link:label id="lab_pnw_SouthernCaliforniaEdisonCompanyMember_6AAB7EA3A677D6F52982C902860DAED8_documentation_en-US" xlink:label="lab_pnw_SouthernCaliforniaEdisonCompanyMember_6AAB7EA3A677D6F52982C902860DAED8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information related to Southern California Edison Company. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_SouthernCaliforniaEdisonCompanyMember" xlink:label="loc_pnw_SouthernCaliforniaEdisonCompanyMember_6AAB7EA3A677D6F52982C902860DAED8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_SouthernCaliforniaEdisonCompanyMember_6AAB7EA3A677D6F52982C902860DAED8" xlink:to="lab_pnw_SouthernCaliforniaEdisonCompanyMember_6AAB7EA3A677D6F52982C902860DAED8" xlink:type="arc"/>

<link:label id="lab_us-gaap_BusinessAcquisitionLineItems_D9729B5A852BC8DDA20CC902860F31CF_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems_D9729B5A852BC8DDA20CC902860F31CF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Acquisition </link:label>

<link:label id="lab_us-gaap_BusinessAcquisitionLineItems_D9729B5A852BC8DDA20CC902860F31CF_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems_D9729B5A852BC8DDA20CC902860F31CF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Acquisition [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_D9729B5A852BC8DDA20CC902860F31CF" xlink:type="locator"/>

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<link:label id="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_6EDDAA8DBDC609F4F009C902860F2CDA_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_6EDDAA8DBDC609F4F009C902860F2CDA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Ownership interest acquired </link:label>

<link:label id="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_6EDDAA8DBDC609F4F009C902860F2CDA_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_6EDDAA8DBDC609F4F009C902860F2CDA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Acquisition, Percentage of Voting Interests Acquired </link:label>

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<link:label id="lab_pnw_SettlementagreementACCapprovedrateadjustmentannualizedcustomerimpact_6DBD73374CFAD4637281C902860FCB30_terseLabel_en-US" xlink:label="lab_pnw_SettlementagreementACCapprovedrateadjustmentannualizedcustomerimpact_6DBD73374CFAD4637281C902860FCB30" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Settlement agreement, ACC approved rate adjustment, annualized customer impact </link:label>

<link:label id="lab_pnw_SettlementagreementACCapprovedrateadjustmentannualizedcustomerimpact_6DBD73374CFAD4637281C902860FCB30_label_en-US" xlink:label="lab_pnw_SettlementagreementACCapprovedrateadjustmentannualizedcustomerimpact_6DBD73374CFAD4637281C902860FCB30" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Settlement agreement, ACC approved rate adjustment, annualized customer impact </link:label>

<link:label id="lab_pnw_SettlementagreementACCapprovedrateadjustmentannualizedcustomerimpact_6DBD73374CFAD4637281C902860FCB30_documentation_en-US" xlink:label="lab_pnw_SettlementagreementACCapprovedrateadjustmentannualizedcustomerimpact_6DBD73374CFAD4637281C902860FCB30" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Settlement agreement, ACC approved rate adjustment, annualized customer impact </link:label>

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<link:label id="lab_us-gaap_RegulatoryAssets_F41FBBA3443E50099671C902860FC330_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatoryAssets_F41FBBA3443E50099671C902860FC330" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory assets </link:label>

<link:label id="lab_us-gaap_RegulatoryAssets_F41FBBA3443E50099671C902860FC330_label_en-US" xlink:label="lab_us-gaap_RegulatoryAssets_F41FBBA3443E50099671C902860FC330" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RegulatoryAssets" xlink:label="loc_us-gaap_RegulatoryAssets_F41FBBA3443E50099671C902860FC330" xlink:type="locator"/>

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<link:label id="lab_pnw_TransmissionTerminationAgreementNetReceiptDueToNegotiationOfAlternateArrangement_F8F3A15029F2191DB584C902860F5C53_terseLabel_en-US" xlink:label="lab_pnw_TransmissionTerminationAgreementNetReceiptDueToNegotiationOfAlternateArrangement_F8F3A15029F2191DB584C902860F5C53" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net receipt due to negotiation of alternate arrangement </link:label>

<link:label id="lab_pnw_TransmissionTerminationAgreementNetReceiptDueToNegotiationOfAlternateArrangement_F8F3A15029F2191DB584C902860F5C53_label_en-US" xlink:label="lab_pnw_TransmissionTerminationAgreementNetReceiptDueToNegotiationOfAlternateArrangement_F8F3A15029F2191DB584C902860F5C53" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Transmission Termination Agreement Net Receipt Due to Negotiation of Alternate Arrangement </link:label>

<link:label id="lab_pnw_TransmissionTerminationAgreementNetReceiptDueToNegotiationOfAlternateArrangement_F8F3A15029F2191DB584C902860F5C53_documentation_en-US" xlink:label="lab_pnw_TransmissionTerminationAgreementNetReceiptDueToNegotiationOfAlternateArrangement_F8F3A15029F2191DB584C902860F5C53" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the amount of net receipt due to negotiation of alternate arrangement. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_TransmissionTerminationAgreementNetReceiptDueToNegotiationOfAlternateArrangement" xlink:label="loc_pnw_TransmissionTerminationAgreementNetReceiptDueToNegotiationOfAlternateArrangement_F8F3A15029F2191DB584C902860F5C53" xlink:type="locator"/>

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<link:label id="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsAssignedToThirdParties_281CC10FAF776B30484AC902860F02D8_terseLabel_en-US" xlink:label="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsAssignedToThirdParties_281CC10FAF776B30484AC902860F02D8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Capacity rights over the Arizona transmission system assign to third-parties </link:label>

<link:label id="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsAssignedToThirdParties_281CC10FAF776B30484AC902860F02D8_label_en-US" xlink:label="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsAssignedToThirdParties_281CC10FAF776B30484AC902860F02D8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Transmission Termination Agreement Power Capacity Rights Assigned to Third Parties </link:label>

<link:label id="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsAssignedToThirdParties_281CC10FAF776B30484AC902860F02D8_documentation_en-US" xlink:label="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsAssignedToThirdParties_281CC10FAF776B30484AC902860F02D8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the capacity rights over the Arizona Transmission System assigned to third-parties under negotiation of alternate arrangement. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_TransmissionTerminationAgreementPowerCapacityRightsAssignedToThirdParties" xlink:label="loc_pnw_TransmissionTerminationAgreementPowerCapacityRightsAssignedToThirdParties_281CC10FAF776B30484AC902860F02D8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_TransmissionTerminationAgreementPowerCapacityRightsAssignedToThirdParties_281CC10FAF776B30484AC902860F02D8" xlink:to="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsAssignedToThirdParties_281CC10FAF776B30484AC902860F02D8" xlink:type="arc"/>

<link:label id="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsRelatedToMarketingAndTradingGroupForTransmissionOfAdditionalPowerReceiveAssignedToThirdParties_6625FDE3FB4A099499BEC9028610F058_terseLabel_en-US" xlink:label="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsRelatedToMarketingAndTradingGroupForTransmissionOfAdditionalPowerReceiveAssignedToThirdParties_6625FDE3FB4A099499BEC9028610F058" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Capacity rights related to marketing and trading group for transmission of the additional power received assign to third-parties </link:label>

<link:label id="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsRelatedToMarketingAndTradingGroupForTransmissionOfAdditionalPowerReceiveAssignedToThirdParties_6625FDE3FB4A099499BEC9028610F058_label_en-US" xlink:label="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsRelatedToMarketingAndTradingGroupForTransmissionOfAdditionalPowerReceiveAssignedToThirdParties_6625FDE3FB4A099499BEC9028610F058" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Transmission Termination Agreement Power Capacity Rights Related to Marketing and Trading Group for Transmission of Additional Power Receive Assigned to Third Parties </link:label>

<link:label id="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsRelatedToMarketingAndTradingGroupForTransmissionOfAdditionalPowerReceiveAssignedToThirdParties_6625FDE3FB4A099499BEC9028610F058_documentation_en-US" xlink:label="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsRelatedToMarketingAndTradingGroupForTransmissionOfAdditionalPowerReceiveAssignedToThirdParties_6625FDE3FB4A099499BEC9028610F058" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the capacity rights related to marketing and trading group for transmission of the additional power received assigned to third-parties under negotiation of alternate arrangement. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_TransmissionTerminationAgreementPowerCapacityRightsRelatedToMarketingAndTradingGroupForTransmissionOfAdditionalPowerReceiveAssignedToThirdParties" xlink:label="loc_pnw_TransmissionTerminationAgreementPowerCapacityRightsRelatedToMarketingAndTradingGroupForTransmissionOfAdditionalPowerReceiveAssignedToThirdParties_6625FDE3FB4A099499BEC9028610F058" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_TransmissionTerminationAgreementPowerCapacityRightsRelatedToMarketingAndTradingGroupForTransmissionOfAdditionalPowerReceiveAssignedToThirdParties_6625FDE3FB4A099499BEC9028610F058" xlink:to="lab_pnw_TransmissionTerminationAgreementPowerCapacityRightsRelatedToMarketingAndTradingGroupForTransmissionOfAdditionalPowerReceiveAssignedToThirdParties_6625FDE3FB4A099499BEC9028610F058" xlink:type="arc"/>

<link:label id="lab_pnw_RegulatoryAssetNetBookValue_D8BA800F796EE6785C81C90286108926_terseLabel_en-US" xlink:label="lab_pnw_RegulatoryAssetNetBookValue_D8BA800F796EE6785C81C90286108926" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory asset, net book value </link:label>

<link:label id="lab_pnw_RegulatoryAssetNetBookValue_D8BA800F796EE6785C81C90286108926_label_en-US" xlink:label="lab_pnw_RegulatoryAssetNetBookValue_D8BA800F796EE6785C81C90286108926" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Asset, Net Book Value </link:label>

<link:label id="lab_pnw_RegulatoryAssetNetBookValue_D8BA800F796EE6785C81C90286108926_documentation_en-US" xlink:label="lab_pnw_RegulatoryAssetNetBookValue_D8BA800F796EE6785C81C90286108926" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Regulatory Asset, Net Book Value </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RegulatoryAssetNetBookValue" xlink:label="loc_pnw_RegulatoryAssetNetBookValue_D8BA800F796EE6785C81C90286108926" xlink:type="locator"/>

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<link:label id="lab_us-gaap_VariableInterestEntityDisclosureTextBlock_2B216B9B6A1BB8E0C50191C0267C4FCD_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityDisclosureTextBlock_2B216B9B6A1BB8E0C50191C0267C4FCD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde Sale Leaseback Variable Interest Entities </link:label>

<link:label id="lab_us-gaap_VariableInterestEntityDisclosureTextBlock_2B216B9B6A1BB8E0C50191C0267C4FCD_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityDisclosureTextBlock_2B216B9B6A1BB8E0C50191C0267C4FCD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity Disclosure [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityDisclosureTextBlock" xlink:label="loc_us-gaap_VariableInterestEntityDisclosureTextBlock_2B216B9B6A1BB8E0C50191C0267C4FCD" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CostsAndExpenses_57CD2507EEE8D9EE8782CCE8D509CF6B_terseLabel_en-US" xlink:label="lab_us-gaap_CostsAndExpenses_57CD2507EEE8D9EE8782CCE8D509CF6B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Operating expenses </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="loc_us-gaap_CostsAndExpenses_57CD2507EEE8D9EE8782CCE8D509CF6B" xlink:type="locator"/>

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<link:label id="lab_us-gaap_NonoperatingIncomeExpenseAbstract_44A07212CBF8DD0AB2A1CCE8D5097964_verboseLabel_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpenseAbstract_44A07212CBF8DD0AB2A1CCE8D5097964" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NonoperatingIncomeExpenseAbstract" xlink:label="loc_us-gaap_NonoperatingIncomeExpenseAbstract_44A07212CBF8DD0AB2A1CCE8D5097964" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonoperatingIncomeExpenseAbstract_44A07212CBF8DD0AB2A1CCE8D5097964" xlink:to="lab_us-gaap_NonoperatingIncomeExpenseAbstract_44A07212CBF8DD0AB2A1CCE8D5097964" xlink:type="arc"/>

<link:label id="lab_pnw_EquityInEarningsLossesOfSubsidiaries_BAE3439871D9CA2C4EC0CCE8D509FE6D_terseLabel_en-US" xlink:label="lab_pnw_EquityInEarningsLossesOfSubsidiaries_BAE3439871D9CA2C4EC0CCE8D509FE6D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Equity in earnings of subsidiaries </link:label>

<link:label id="lab_pnw_EquityInEarningsLossesOfSubsidiaries_BAE3439871D9CA2C4EC0CCE8D509FE6D_label_en-US" xlink:label="lab_pnw_EquityInEarningsLossesOfSubsidiaries_BAE3439871D9CA2C4EC0CCE8D509FE6D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Equity in Earnings (Losses) of Subsidiaries </link:label>

<link:label id="lab_pnw_EquityInEarningsLossesOfSubsidiaries_BAE3439871D9CA2C4EC0CCE8D509FE6D_documentation_en-US" xlink:label="lab_pnw_EquityInEarningsLossesOfSubsidiaries_BAE3439871D9CA2C4EC0CCE8D509FE6D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the equity in earnings or losses of subsidiaries for the reporting period. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_EquityInEarningsLossesOfSubsidiaries" xlink:label="loc_pnw_EquityInEarningsLossesOfSubsidiaries_BAE3439871D9CA2C4EC0CCE8D509FE6D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_EquityInEarningsLossesOfSubsidiaries_BAE3439871D9CA2C4EC0CCE8D509FE6D" xlink:to="lab_pnw_EquityInEarningsLossesOfSubsidiaries_BAE3439871D9CA2C4EC0CCE8D509FE6D" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherNonoperatingIncomeExpense_6A878532CBD373333924CCE8D509F7F7_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncomeExpense_6A878532CBD373333924CCE8D509F7F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other expense </link:label>

<link:label id="lab_us-gaap_OtherNonoperatingIncomeExpense_6A878532CBD373333924CCE8D509F7F7_label_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncomeExpense_6A878532CBD373333924CCE8D509F7F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Nonoperating Income (Expense) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="loc_us-gaap_OtherNonoperatingIncomeExpense_6A878532CBD373333924CCE8D509F7F7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNonoperatingIncomeExpense_6A878532CBD373333924CCE8D509F7F7" xlink:to="lab_us-gaap_OtherNonoperatingIncomeExpense_6A878532CBD373333924CCE8D509F7F7" xlink:type="arc"/>

<link:label id="lab_us-gaap_InterestCostsIncurred_02FE71B46E6D94E5C56CCCE8D5097BF7_verboseLabel_en-US" xlink:label="lab_us-gaap_InterestCostsIncurred_02FE71B46E6D94E5C56CCCE8D5097BF7" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Interest expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestCostsIncurred" xlink:label="loc_us-gaap_InterestCostsIncurred_02FE71B46E6D94E5C56CCCE8D5097BF7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestCostsIncurred_02FE71B46E6D94E5C56CCCE8D5097BF7" xlink:to="lab_us-gaap_InterestCostsIncurred_02FE71B46E6D94E5C56CCCE8D5097BF7" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_5C843AA79068B7FE0AA2CCE8D509F749_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_5C843AA79068B7FE0AA2CCE8D509F749" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> INCOME BEFORE INCOME TAXES </link:label>

<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_5C843AA79068B7FE0AA2CCE8D509F749_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_5C843AA79068B7FE0AA2CCE8D509F749" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_5C843AA79068B7FE0AA2CCE8D509F749" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_5C843AA79068B7FE0AA2CCE8D509F749" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_5C843AA79068B7FE0AA2CCE8D509F749" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_AC1E06D639421F5F6020CCE8D50AF8B3_positiveLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_AC1E06D639421F5F6020CCE8D50AF8B3" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US"> Income tax benefit </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_AC1E06D639421F5F6020CCE8D50AF8B3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_AC1E06D639421F5F6020CCE8D50AF8B3" xlink:to="lab_us-gaap_IncomeTaxExpenseBenefit_AC1E06D639421F5F6020CCE8D50AF8B3" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_0F9053AA516FF3F8644EC671604D827A_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_0F9053AA516FF3F8644EC671604D827A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Outstanding gross notional amount of derivatives, which represents both purchases and sales (does not reflect net position) </link:label>

<link:label id="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_0F9053AA516FF3F8644EC671604D827A_label_en-US" xlink:label="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_0F9053AA516FF3F8644EC671604D827A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_0F9053AA516FF3F8644EC671604D827A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_0F9053AA516FF3F8644EC671604D827A" xlink:to="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_0F9053AA516FF3F8644EC671604D827A" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_9581A2FB48954B67F419C671604D472A_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_9581A2FB48954B67F419C671604D472A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Gains and losses from derivative instruments in designated cash flow accounting hedges relationships </link:label>

<link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_9581A2FB48954B67F419C671604D472A_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_9581A2FB48954B67F419C671604D472A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Instruments, Gain (Loss) [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:label="loc_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_9581A2FB48954B67F419C671604D472A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_9581A2FB48954B67F419C671604D472A" xlink:to="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_9581A2FB48954B67F419C671604D472A" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_5E2429616CBEA54B57E2C671604D5594_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_5E2429616CBEA54B57E2C671604D5594" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Gains and losses from derivative instruments not designated as accounting hedges instruments </link:label>

<link:label id="lab_us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_5E2429616CBEA54B57E2C671604D5594_label_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_5E2429616CBEA54B57E2C671604D5594" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_5E2429616CBEA54B57E2C671604D5594" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OffsettingLiabilitiesTableTextBlock_6FA96FE365FD51407212C6C411DAA1A0_terseLabel_en-US" xlink:label="lab_us-gaap_OffsettingLiabilitiesTableTextBlock_6FA96FE365FD51407212C6C411DAA1A0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of the entity's fair value of risk management activities reported on a gross basis and the impacts on offsetting liabilities </link:label>

<link:label id="lab_us-gaap_OffsettingLiabilitiesTableTextBlock_6FA96FE365FD51407212C6C411DAA1A0_label_en-US" xlink:label="lab_us-gaap_OffsettingLiabilitiesTableTextBlock_6FA96FE365FD51407212C6C411DAA1A0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Offsetting Liabilities [Table Text Block] </link:label>

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<link:label id="lab_us-gaap_OffsettingAssetsTableTextBlock_0D65980FC6B307A4AC63C6C375FC1153_terseLabel_en-US" xlink:label="lab_us-gaap_OffsettingAssetsTableTextBlock_0D65980FC6B307A4AC63C6C375FC1153" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of the entity's fair value of risk management activities reported on a gross basis and the impacts on offsetting assets </link:label>

<link:label id="lab_us-gaap_OffsettingAssetsTableTextBlock_0D65980FC6B307A4AC63C6C375FC1153_label_en-US" xlink:label="lab_us-gaap_OffsettingAssetsTableTextBlock_0D65980FC6B307A4AC63C6C375FC1153" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Offsetting Assets [Table Text Block] </link:label>

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<link:label id="lab_pnw_ScheduleOfDerivativeCreditRiskRelatedContingentFeaturesTableTextBlock_60FB672AD9B3BA74715CC671604D6EDA_terseLabel_en-US" xlink:label="lab_pnw_ScheduleOfDerivativeCreditRiskRelatedContingentFeaturesTableTextBlock_60FB672AD9B3BA74715CC671604D6EDA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Information about derivative instruments that have credit-risk-related contingent features </link:label>

<link:label id="lab_pnw_ScheduleOfDerivativeCreditRiskRelatedContingentFeaturesTableTextBlock_60FB672AD9B3BA74715CC671604D6EDA_label_en-US" xlink:label="lab_pnw_ScheduleOfDerivativeCreditRiskRelatedContingentFeaturesTableTextBlock_60FB672AD9B3BA74715CC671604D6EDA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Derivative Credit Risk Related Contingent Features [Table Text Block] </link:label>

<link:label id="lab_pnw_ScheduleOfDerivativeCreditRiskRelatedContingentFeaturesTableTextBlock_60FB672AD9B3BA74715CC671604D6EDA_documentation_en-US" xlink:label="lab_pnw_ScheduleOfDerivativeCreditRiskRelatedContingentFeaturesTableTextBlock_60FB672AD9B3BA74715CC671604D6EDA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Tabular disclosure of derivative instruments that have credit-risk-related contingent features. </link:label>

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<link:label id="lab_us-gaap_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract_E95D50CFA17CC22BDB07ECCAED3BC2A0_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract_E95D50CFA17CC22BDB07ECCAED3BC2A0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Comparison of pretax income from continuing operations at the federal income tax rate to income tax expense - continuing operations </link:label>

<link:label id="lab_us-gaap_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract_E95D50CFA17CC22BDB07ECCAED3BC2A0_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract_E95D50CFA17CC22BDB07ECCAED3BC2A0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, Amount [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract_E95D50CFA17CC22BDB07ECCAED3BC2A0" xlink:type="locator"/>

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<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_029442BBF1E5532537E9ECCAED3B71FF_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_029442BBF1E5532537E9ECCAED3B71FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Federal income tax rate (as a percent) </link:label>

<link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_029442BBF1E5532537E9ECCAED3B71FF_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_029442BBF1E5532537E9ECCAED3B71FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_029442BBF1E5532537E9ECCAED3B71FF" xlink:type="locator"/>

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<link:label id="lab_pnw_IncomeTaxReconciliationIncreasesReductionsInTaxExpenseAbstract_CD82ED513893477F462AECCAED3CDC1B_terseLabel_en-US" xlink:label="lab_pnw_IncomeTaxReconciliationIncreasesReductionsInTaxExpenseAbstract_CD82ED513893477F462AECCAED3CDC1B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income Tax Reconciliation Increases Reductions in Tax Expense [Abstract] </link:label>

<link:label id="lab_pnw_IncomeTaxReconciliationIncreasesReductionsInTaxExpenseAbstract_CD82ED513893477F462AECCAED3CDC1B_label_en-US" xlink:label="lab_pnw_IncomeTaxReconciliationIncreasesReductionsInTaxExpenseAbstract_CD82ED513893477F462AECCAED3CDC1B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax Reconciliation Increases Reductions in Tax Expense [Abstract] </link:label>

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<link:loc xlink:href="pnw-20151231.xsd#pnw_IncomeTaxReconciliationIncreasesReductionsInTaxExpenseAbstract" xlink:label="loc_pnw_IncomeTaxReconciliationIncreasesReductionsInTaxExpenseAbstract_CD82ED513893477F462AECCAED3CDC1B" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_7730F364A7FF2236C88FECCAED3C689E_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_7730F364A7FF2236C88FECCAED3C689E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Federal income tax expense at 35% statutory rate </link:label>

<link:label id="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_7730F364A7FF2236C88FECCAED3C689E_label_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_7730F364A7FF2236C88FECCAED3C689E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:label="loc_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_7730F364A7FF2236C88FECCAED3C689E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_1BFA58835BEBFDA4B11EECCAED3C65F5_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_1BFA58835BEBFDA4B11EECCAED3C65F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> State income tax net of federal income tax benefit </link:label>

<link:label id="lab_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_1BFA58835BEBFDA4B11EECCAED3C65F5_label_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_1BFA58835BEBFDA4B11EECCAED3C65F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:label="loc_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_1BFA58835BEBFDA4B11EECCAED3C65F5" xlink:type="locator"/>

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<link:label id="lab_pnw_IncomeTaxReconciliationTaxCreditsAndAdjustmentsPriorYears_A37507E1AA9BE835C78BECCAED3CDABA_negatedLabel_en-US" xlink:label="lab_pnw_IncomeTaxReconciliationTaxCreditsAndAdjustmentsPriorYears_A37507E1AA9BE835C78BECCAED3CDABA" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Credits and favorable adjustments related to prior years resolved in current year </link:label>

<link:label id="lab_pnw_IncomeTaxReconciliationTaxCreditsAndAdjustmentsPriorYears_A37507E1AA9BE835C78BECCAED3CDABA_label_en-US" xlink:label="lab_pnw_IncomeTaxReconciliationTaxCreditsAndAdjustmentsPriorYears_A37507E1AA9BE835C78BECCAED3CDABA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax Reconciliation Tax Credits and Adjustments Prior Years </link:label>

<link:label id="lab_pnw_IncomeTaxReconciliationTaxCreditsAndAdjustmentsPriorYears_A37507E1AA9BE835C78BECCAED3CDABA_documentation_en-US" xlink:label="lab_pnw_IncomeTaxReconciliationTaxCreditsAndAdjustmentsPriorYears_A37507E1AA9BE835C78BECCAED3CDABA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the credits and favorable adjustments related to prior years resolved in current year. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_IncomeTaxReconciliationTaxCreditsAndAdjustmentsPriorYears" xlink:label="loc_pnw_IncomeTaxReconciliationTaxCreditsAndAdjustmentsPriorYears_A37507E1AA9BE835C78BECCAED3CDABA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_IncomeTaxReconciliationTaxCreditsAndAdjustmentsPriorYears_A37507E1AA9BE835C78BECCAED3CDABA" xlink:to="lab_pnw_IncomeTaxReconciliationTaxCreditsAndAdjustmentsPriorYears_A37507E1AA9BE835C78BECCAED3CDABA" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeTaxReconciliationDeductionsMedicarePrescriptionDrugBenefitSubsidy_87CFC16A619EF87B465BECCAED3C86A3_negatedLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationDeductionsMedicarePrescriptionDrugBenefitSubsidy_87CFC16A619EF87B465BECCAED3C86A3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Medicare Subsidy Part-D </link:label>

<link:label id="lab_us-gaap_IncomeTaxReconciliationDeductionsMedicarePrescriptionDrugBenefitSubsidy_87CFC16A619EF87B465BECCAED3C86A3_label_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationDeductionsMedicarePrescriptionDrugBenefitSubsidy_87CFC16A619EF87B465BECCAED3C86A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, Deduction, Medicare Prescription Drug Benefit, Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationDeductionsMedicarePrescriptionDrugBenefitSubsidy" xlink:label="loc_us-gaap_IncomeTaxReconciliationDeductionsMedicarePrescriptionDrugBenefitSubsidy_87CFC16A619EF87B465BECCAED3C86A3" xlink:type="locator"/>

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<link:label id="lab_pnw_IncomeTaxReconciliationAllowanceForEquityFundsUsedDuringConstruction_61E0229130DADCABAE30ECCAED3C6573_negatedLabel_en-US" xlink:label="lab_pnw_IncomeTaxReconciliationAllowanceForEquityFundsUsedDuringConstruction_61E0229130DADCABAE30ECCAED3C6573" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Allowance for equity funds used during construction (see Note 1) </link:label>

<link:label id="lab_pnw_IncomeTaxReconciliationAllowanceForEquityFundsUsedDuringConstruction_61E0229130DADCABAE30ECCAED3C6573_label_en-US" xlink:label="lab_pnw_IncomeTaxReconciliationAllowanceForEquityFundsUsedDuringConstruction_61E0229130DADCABAE30ECCAED3C6573" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax Reconciliation Allowance for Equity Funds Used During Construction </link:label>

<link:label id="lab_pnw_IncomeTaxReconciliationAllowanceForEquityFundsUsedDuringConstruction_61E0229130DADCABAE30ECCAED3C6573_documentation_en-US" xlink:label="lab_pnw_IncomeTaxReconciliationAllowanceForEquityFundsUsedDuringConstruction_61E0229130DADCABAE30ECCAED3C6573" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The portion of the difference between total income tax expense or benefit as reported in the income statement for the period and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to allowance for equity funds used during construction. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_IncomeTaxReconciliationAllowanceForEquityFundsUsedDuringConstruction" xlink:label="loc_pnw_IncomeTaxReconciliationAllowanceForEquityFundsUsedDuringConstruction_61E0229130DADCABAE30ECCAED3C6573" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncomeTaxReconciliationMinorityInterestIncomeExpense_1ECC50474A1E7EC67283ECCAED3CFAE5_negatedLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationMinorityInterestIncomeExpense_1ECC50474A1E7EC67283ECCAED3CFAE5" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde VIE noncontrolling interest (see Note 18) </link:label>

<link:label id="lab_us-gaap_IncomeTaxReconciliationMinorityInterestIncomeExpense_1ECC50474A1E7EC67283ECCAED3CFAE5_label_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationMinorityInterestIncomeExpense_1ECC50474A1E7EC67283ECCAED3CFAE5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationMinorityInterestIncomeExpense" xlink:label="loc_us-gaap_IncomeTaxReconciliationMinorityInterestIncomeExpense_1ECC50474A1E7EC67283ECCAED3CFAE5" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_33F73B9DBF6FFC5B702860BC0162E926_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_33F73B9DBF6FFC5B702860BC0162E926" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair value of fixed income securities, summarized by contractual maturities </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_33F73B9DBF6FFC5B702860BC0162E926_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_33F73B9DBF6FFC5B702860BC0162E926" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_33F73B9DBF6FFC5B702860BC0162E926" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_33F73B9DBF6FFC5B702860BC0162E926" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesFairValueAbstract_33F73B9DBF6FFC5B702860BC0162E926" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_262530777727EF5BC4EC60BC01622FDD_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_262530777727EF5BC4EC60BC01622FDD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Less than one year </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_262530777727EF5BC4EC60BC01622FDD_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_262530777727EF5BC4EC60BC01622FDD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_262530777727EF5BC4EC60BC01622FDD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_262530777727EF5BC4EC60BC01622FDD" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_262530777727EF5BC4EC60BC01622FDD" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_D20DFBDD34E89208E60460BC0162B065_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_D20DFBDD34E89208E60460BC0162B065" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 1 year - 5 years </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_D20DFBDD34E89208E60460BC0162B065_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_D20DFBDD34E89208E60460BC0162B065" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_D20DFBDD34E89208E60460BC0162B065" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_D20DFBDD34E89208E60460BC0162B065" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_D20DFBDD34E89208E60460BC0162B065" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_392B837FD1C91A83D03560BC016292E7_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_392B837FD1C91A83D03560BC016292E7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 5 years - 10 years </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_392B837FD1C91A83D03560BC016292E7_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_392B837FD1C91A83D03560BC016292E7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_392B837FD1C91A83D03560BC016292E7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_392B837FD1C91A83D03560BC016292E7" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_392B837FD1C91A83D03560BC016292E7" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_2B68CCB440663682C43160BC01622F0C_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_2B68CCB440663682C43160BC01622F0C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Greater than 10 years </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_2B68CCB440663682C43160BC01622F0C_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_2B68CCB440663682C43160BC01622F0C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_2B68CCB440663682C43160BC01622F0C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_2B68CCB440663682C43160BC01622F0C" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_2B68CCB440663682C43160BC01622F0C" xlink:type="arc"/>

<link:label id="lab_us-gaap_DecommissioningTrustAssetsAmount_0A59FA715421ACE6F5F360BC016271F8_totalLabel_en-US" xlink:label="lab_us-gaap_DecommissioningTrustAssetsAmount_0A59FA715421ACE6F5F360BC016271F8" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DecommissioningTrustAssetsAmount" xlink:label="loc_us-gaap_DecommissioningTrustAssetsAmount_0A59FA715421ACE6F5F360BC016271F8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DecommissioningTrustAssetsAmount_0A59FA715421ACE6F5F360BC016271F8" xlink:to="lab_us-gaap_DecommissioningTrustAssetsAmount_0A59FA715421ACE6F5F360BC016271F8" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongTermDebtByMaturityAbstract_AB193BE08D3F3F30AEF05FFAED52E933_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtByMaturityAbstract_AB193BE08D3F3F30AEF05FFAED52E933" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Principal payments due on long-term debt </link:label>

<link:label id="lab_us-gaap_LongTermDebtByMaturityAbstract_AB193BE08D3F3F30AEF05FFAED52E933_label_en-US" xlink:label="lab_us-gaap_LongTermDebtByMaturityAbstract_AB193BE08D3F3F30AEF05FFAED52E933" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Fiscal Year Maturity [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtByMaturityAbstract" xlink:label="loc_us-gaap_LongTermDebtByMaturityAbstract_AB193BE08D3F3F30AEF05FFAED52E933" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtByMaturityAbstract_AB193BE08D3F3F30AEF05FFAED52E933" xlink:to="lab_us-gaap_LongTermDebtByMaturityAbstract_AB193BE08D3F3F30AEF05FFAED52E933" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_DBB568AED760F1839D475FFAED5338A0_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_DBB568AED760F1839D475FFAED5338A0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2016 </link:label>

<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_DBB568AED760F1839D475FFAED5338A0_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_DBB568AED760F1839D475FFAED5338A0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_DBB568AED760F1839D475FFAED5338A0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_DBB568AED760F1839D475FFAED5338A0" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_DBB568AED760F1839D475FFAED5338A0" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_260CDA248976558EB02D5FFAED534B47_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_260CDA248976558EB02D5FFAED534B47" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2017 </link:label>

<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_260CDA248976558EB02D5FFAED534B47_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_260CDA248976558EB02D5FFAED534B47" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Maturities, Repayments of Principal in Year Two </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_260CDA248976558EB02D5FFAED534B47" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_260CDA248976558EB02D5FFAED534B47" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_260CDA248976558EB02D5FFAED534B47" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_13D47E47382DC99C47ED5FFAED53F0AE_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_13D47E47382DC99C47ED5FFAED53F0AE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2018 </link:label>

<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_13D47E47382DC99C47ED5FFAED53F0AE_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_13D47E47382DC99C47ED5FFAED53F0AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Maturities, Repayments of Principal in Year Three </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_13D47E47382DC99C47ED5FFAED53F0AE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_13D47E47382DC99C47ED5FFAED53F0AE" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_13D47E47382DC99C47ED5FFAED53F0AE" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_33BB9E534127A1DB7A115FFAED53A430_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_33BB9E534127A1DB7A115FFAED53A430" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2019 </link:label>

<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_33BB9E534127A1DB7A115FFAED53A430_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_33BB9E534127A1DB7A115FFAED53A430" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Maturities, Repayments of Principal in Year Four </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_33BB9E534127A1DB7A115FFAED53A430" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_33BB9E534127A1DB7A115FFAED53A430" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_33BB9E534127A1DB7A115FFAED53A430" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_814F2A0EF6799423A05A5FFAED538F49_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_814F2A0EF6799423A05A5FFAED538F49" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2020 </link:label>

<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_814F2A0EF6799423A05A5FFAED538F49_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_814F2A0EF6799423A05A5FFAED538F49" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Maturities, Repayments of Principal in Year Five </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_814F2A0EF6799423A05A5FFAED538F49" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_814F2A0EF6799423A05A5FFAED538F49" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_814F2A0EF6799423A05A5FFAED538F49" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4491EF66DE84723F5F815FFAED533ED6_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4491EF66DE84723F5F815FFAED533ED6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Thereafter </link:label>

<link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4491EF66DE84723F5F815FFAED533ED6_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4491EF66DE84723F5F815FFAED533ED6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Maturities, Repayments of Principal after Year Five </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4491EF66DE84723F5F815FFAED533ED6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4491EF66DE84723F5F815FFAED533ED6" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4491EF66DE84723F5F815FFAED533ED6" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_06DC38A084C2D2156D455FFAED531128_totalLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_06DC38A084C2D2156D455FFAED531128" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_06DC38A084C2D2156D455FFAED531128" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_06DC38A084C2D2156D455FFAED531128" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount_06DC38A084C2D2156D455FFAED531128" xlink:type="arc"/>

<link:label id="lab_us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_6156C792AFA5006212BDECCAED2E12C7_terseLabel_en-US" xlink:label="lab_us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_6156C792AFA5006212BDECCAED2E12C7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Components of the net deferred income tax liability </link:label>

<link:label id="lab_us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_6156C792AFA5006212BDECCAED2E12C7_label_en-US" xlink:label="lab_us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_6156C792AFA5006212BDECCAED2E12C7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Components of Deferred Tax Assets and Liabilities [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract" xlink:label="loc_us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_6156C792AFA5006212BDECCAED2E12C7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_6156C792AFA5006212BDECCAED2E12C7" xlink:to="lab_us-gaap_ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_6156C792AFA5006212BDECCAED2E12C7" xlink:type="arc"/>

<link:label id="lab_us-gaap_ComponentsOfDeferredTaxAssetsAbstract_554B34E90CF49DF93CEAECCAED2E0C67_terseLabel_en-US" xlink:label="lab_us-gaap_ComponentsOfDeferredTaxAssetsAbstract_554B34E90CF49DF93CEAECCAED2E0C67" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> DEFERRED TAX ASSETS </link:label>

<link:label id="lab_us-gaap_ComponentsOfDeferredTaxAssetsAbstract_554B34E90CF49DF93CEAECCAED2E0C67_label_en-US" xlink:label="lab_us-gaap_ComponentsOfDeferredTaxAssetsAbstract_554B34E90CF49DF93CEAECCAED2E0C67" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Components of Deferred Tax Assets [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ComponentsOfDeferredTaxAssetsAbstract" xlink:label="loc_us-gaap_ComponentsOfDeferredTaxAssetsAbstract_554B34E90CF49DF93CEAECCAED2E0C67" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DeferredTaxAssetsDerivativeInstruments_0DD9E0F0A859CF3935D9ECCAED2E5951_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsDerivativeInstruments_0DD9E0F0A859CF3935D9ECCAED2E5951" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Risk management activities </link:label>

<link:label id="lab_us-gaap_DeferredTaxAssetsDerivativeInstruments_0DD9E0F0A859CF3935D9ECCAED2E5951_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsDerivativeInstruments_0DD9E0F0A859CF3935D9ECCAED2E5951" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Derivative Instruments </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsDerivativeInstruments" xlink:label="loc_us-gaap_DeferredTaxAssetsDerivativeInstruments_0DD9E0F0A859CF3935D9ECCAED2E5951" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsDerivativeInstruments_0DD9E0F0A859CF3935D9ECCAED2E5951" xlink:to="lab_us-gaap_DeferredTaxAssetsDerivativeInstruments_0DD9E0F0A859CF3935D9ECCAED2E5951" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAbstract_ED87A862CE3DEE304485ECCAED2F02BF_terseLabel_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAbstract_ED87A862CE3DEE304485ECCAED2F02BF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory liabilities: </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAbstract_ED87A862CE3DEE304485ECCAED2F02BF_label_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAbstract_ED87A862CE3DEE304485ECCAED2F02BF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Regulatory Liabilities [Abstract] </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAbstract_ED87A862CE3DEE304485ECCAED2F02BF_documentation_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAbstract_ED87A862CE3DEE304485ECCAED2F02BF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxAssetsRegulatoryLiabilitiesAbstract" xlink:label="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAbstract_ED87A862CE3DEE304485ECCAED2F02BF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAbstract_ED87A862CE3DEE304485ECCAED2F02BF" xlink:to="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAbstract_ED87A862CE3DEE304485ECCAED2F02BF" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAssetRetirementObligationAndRemovalCosts_2F37E7CA199CA1C18D08ECCAED2FE456_terseLabel_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAssetRetirementObligationAndRemovalCosts_2F37E7CA199CA1C18D08ECCAED2FE456" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Asset retirement obligation and removal costs </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAssetRetirementObligationAndRemovalCosts_2F37E7CA199CA1C18D08ECCAED2FE456_label_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAssetRetirementObligationAndRemovalCosts_2F37E7CA199CA1C18D08ECCAED2FE456" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Regulatory Liabilities, Asset Retirement Obligation and Removal Costs </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAssetRetirementObligationAndRemovalCosts_2F37E7CA199CA1C18D08ECCAED2FE456_documentation_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAssetRetirementObligationAndRemovalCosts_2F37E7CA199CA1C18D08ECCAED2FE456" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The tax effect as of the balance sheet date of the amount of the estimated future tax deductions attributable to regulatory liabilities related to asset retirement obligation and removal costs which can only be realized if sufficient taxable income is generated in future periods to enable the deduction to be taken. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxAssetsRegulatoryLiabilitiesAssetRetirementObligationAndRemovalCosts" xlink:label="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAssetRetirementObligationAndRemovalCosts_2F37E7CA199CA1C18D08ECCAED2FE456" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAssetRetirementObligationAndRemovalCosts_2F37E7CA199CA1C18D08ECCAED2FE456" xlink:to="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesAssetRetirementObligationAndRemovalCosts_2F37E7CA199CA1C18D08ECCAED2FE456" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesUnamortizedInvestmentTaxCredits_C7A75435CEA4D30CA7ACECCAED2F387A_terseLabel_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesUnamortizedInvestmentTaxCredits_C7A75435CEA4D30CA7ACECCAED2F387A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unamortized investment tax credits </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesUnamortizedInvestmentTaxCredits_C7A75435CEA4D30CA7ACECCAED2F387A_label_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesUnamortizedInvestmentTaxCredits_C7A75435CEA4D30CA7ACECCAED2F387A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets Regulatory Liabilities Unamortized Investment Tax Credits </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesUnamortizedInvestmentTaxCredits_C7A75435CEA4D30CA7ACECCAED2F387A_documentation_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesUnamortizedInvestmentTaxCredits_C7A75435CEA4D30CA7ACECCAED2F387A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The tax effect as of the balance sheet date of the amount of the estimated future tax deductions attributable to regulatory liabilities related to unamortized investment tax credits, which can only be realized, if sufficient taxable income is generated in future periods to enable the deduction to be taken. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxAssetsRegulatoryLiabilitiesUnamortizedInvestmentTaxCredits" xlink:label="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesUnamortizedInvestmentTaxCredits_C7A75435CEA4D30CA7ACECCAED2F387A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesUnamortizedInvestmentTaxCredits_C7A75435CEA4D30CA7ACECCAED2F387A" xlink:to="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesUnamortizedInvestmentTaxCredits_C7A75435CEA4D30CA7ACECCAED2F387A" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOtherPostretirementBenefits_E40FC00D9C5678186791ECCAED2F50A4_terseLabel_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOtherPostretirementBenefits_E40FC00D9C5678186791ECCAED2F50A4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other postretirement liabilities </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOtherPostretirementBenefits_E40FC00D9C5678186791ECCAED2F50A4_label_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOtherPostretirementBenefits_E40FC00D9C5678186791ECCAED2F50A4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets Regulatory Liabilities Other Postretirement Benefits </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOtherPostretirementBenefits_E40FC00D9C5678186791ECCAED2F50A4_documentation_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOtherPostretirementBenefits_E40FC00D9C5678186791ECCAED2F50A4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets Regulatory Liabilities Other Postretirement Benefits </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxAssetsRegulatoryLiabilitiesOtherPostretirementBenefits" xlink:label="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOtherPostretirementBenefits_E40FC00D9C5678186791ECCAED2F50A4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOtherPostretirementBenefits_E40FC00D9C5678186791ECCAED2F50A4" xlink:to="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOtherPostretirementBenefits_E40FC00D9C5678186791ECCAED2F50A4" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOther_FDB5256630699D1BFB9EECCAED2FF328_terseLabel_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOther_FDB5256630699D1BFB9EECCAED2FF328" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOther_FDB5256630699D1BFB9EECCAED2FF328_label_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOther_FDB5256630699D1BFB9EECCAED2FF328" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Regulatory Liabilities, Other </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOther_FDB5256630699D1BFB9EECCAED2FF328_documentation_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOther_FDB5256630699D1BFB9EECCAED2FF328" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The tax effect as of the balance sheet date of the amount of the estimated future tax deductions attributable to other regulatory liabilities which can only be realized if sufficient taxable income is generated in future periods to enable the deduction to be taken. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxAssetsRegulatoryLiabilitiesOther" xlink:label="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOther_FDB5256630699D1BFB9EECCAED2FF328" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOther_FDB5256630699D1BFB9EECCAED2FF328" xlink:to="lab_pnw_DeferredTaxAssetsRegulatoryLiabilitiesOther_FDB5256630699D1BFB9EECCAED2FF328" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_A201BFCF0DB9F5883B82ECCAED2F344D_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_A201BFCF0DB9F5883B82ECCAED2F344D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pension liabilities </link:label>

<link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_A201BFCF0DB9F5883B82ECCAED2F344D_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_A201BFCF0DB9F5883B82ECCAED2F344D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_A201BFCF0DB9F5883B82ECCAED2F344D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_A201BFCF0DB9F5883B82ECCAED2F344D" xlink:to="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_A201BFCF0DB9F5883B82ECCAED2F344D" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxAssetsRenewableEnergyIncentives_8CD7792FE6AF42707BE6ECCAED2FDC01_terseLabel_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRenewableEnergyIncentives_8CD7792FE6AF42707BE6ECCAED2FDC01" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Renewable energy incentives </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsRenewableEnergyIncentives_8CD7792FE6AF42707BE6ECCAED2FDC01_label_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRenewableEnergyIncentives_8CD7792FE6AF42707BE6ECCAED2FDC01" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Renewable Energy Incentives </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsRenewableEnergyIncentives_8CD7792FE6AF42707BE6ECCAED2FDC01_documentation_en-US" xlink:label="lab_pnw_DeferredTaxAssetsRenewableEnergyIncentives_8CD7792FE6AF42707BE6ECCAED2FDC01" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The tax effect as of the balance sheet date of the amount of the estimated future tax reductions attributable to renewable energy incentives which can only be realized if sufficient taxable income is generated in future periods to enable the deduction to be taken. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxAssetsRenewableEnergyIncentives" xlink:label="loc_pnw_DeferredTaxAssetsRenewableEnergyIncentives_8CD7792FE6AF42707BE6ECCAED2FDC01" xlink:type="locator"/>

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<link:label id="lab_pnw_DeferredTaxAssetsCreditAndLossCarryforwards_F26FCC0D25D35B839C69ECCAED2F9EB5_terseLabel_en-US" xlink:label="lab_pnw_DeferredTaxAssetsCreditAndLossCarryforwards_F26FCC0D25D35B839C69ECCAED2F9EB5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Credit and loss carryforwards </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsCreditAndLossCarryforwards_F26FCC0D25D35B839C69ECCAED2F9EB5_label_en-US" xlink:label="lab_pnw_DeferredTaxAssetsCreditAndLossCarryforwards_F26FCC0D25D35B839C69ECCAED2F9EB5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Credit and Loss Carryforwards </link:label>

<link:label id="lab_pnw_DeferredTaxAssetsCreditAndLossCarryforwards_F26FCC0D25D35B839C69ECCAED2F9EB5_documentation_en-US" xlink:label="lab_pnw_DeferredTaxAssetsCreditAndLossCarryforwards_F26FCC0D25D35B839C69ECCAED2F9EB5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The tax effect as of the balance sheet date of the amount of the future tax deductions attributable to credit and loss carryforwards. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxAssetsCreditAndLossCarryforwards" xlink:label="loc_pnw_DeferredTaxAssetsCreditAndLossCarryforwards_F26FCC0D25D35B839C69ECCAED2F9EB5" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DeferredTaxAssetsOther_90C3C12694AD1731CC79ECCAED305338_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsOther_90C3C12694AD1731CC79ECCAED305338" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_DeferredTaxAssetsOther_90C3C12694AD1731CC79ECCAED305338_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsOther_90C3C12694AD1731CC79ECCAED305338" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Other </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:label="loc_us-gaap_DeferredTaxAssetsOther_90C3C12694AD1731CC79ECCAED305338" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DeferredTaxAssetsNet_30C36C902B229F117287ECCAED305D18_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNet_30C36C902B229F117287ECCAED305D18" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total deferred tax assets </link:label>

<link:label id="lab_us-gaap_DeferredTaxAssetsNet_30C36C902B229F117287ECCAED305D18_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNet_30C36C902B229F117287ECCAED305D18" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Net of Valuation Allowance </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsNet" xlink:label="loc_us-gaap_DeferredTaxAssetsNet_30C36C902B229F117287ECCAED305D18" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract_07E22B42A516094ED45EECCAED30EBB4_terseLabel_en-US" xlink:label="lab_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract_07E22B42A516094ED45EECCAED30EBB4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> DEFERRED TAX LIABILITIES </link:label>

<link:label id="lab_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract_07E22B42A516094ED45EECCAED30EBB4_label_en-US" xlink:label="lab_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract_07E22B42A516094ED45EECCAED30EBB4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Components of Deferred Tax Liabilities [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xlink:label="loc_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract_07E22B42A516094ED45EECCAED30EBB4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract_07E22B42A516094ED45EECCAED30EBB4" xlink:to="lab_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract_07E22B42A516094ED45EECCAED30EBB4" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_7E934E6BCF90D64A743BECCAED30D83E_negatedLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_7E934E6BCF90D64A743BECCAED30D83E" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Plant-related </link:label>

<link:label id="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_7E934E6BCF90D64A743BECCAED30D83E_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_7E934E6BCF90D64A743BECCAED30D83E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Property, Plant and Equipment </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_7E934E6BCF90D64A743BECCAED30D83E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_7E934E6BCF90D64A743BECCAED30D83E" xlink:to="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_7E934E6BCF90D64A743BECCAED30D83E" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredTaxLiabilitiesDerivatives_242EDE63EE15EBDAFAC0ECCAED30AA00_negatedLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesDerivatives_242EDE63EE15EBDAFAC0ECCAED30AA00" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Risk management activities </link:label>

<link:label id="lab_us-gaap_DeferredTaxLiabilitiesDerivatives_242EDE63EE15EBDAFAC0ECCAED30AA00_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesDerivatives_242EDE63EE15EBDAFAC0ECCAED30AA00" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Derivatives </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxLiabilitiesDerivatives" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesDerivatives_242EDE63EE15EBDAFAC0ECCAED30AA00" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilitiesDerivatives_242EDE63EE15EBDAFAC0ECCAED30AA00" xlink:to="lab_us-gaap_DeferredTaxLiabilitiesDerivatives_242EDE63EE15EBDAFAC0ECCAED30AA00" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxLiabilitiesOtherPostretirementAssets_50B02EDACA301F24E2A8ECCAED30A5B4_negatedTerseLabel_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesOtherPostretirementAssets_50B02EDACA301F24E2A8ECCAED30A5B4" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Other postretirement assets </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesOtherPostretirementAssets_50B02EDACA301F24E2A8ECCAED30A5B4_label_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesOtherPostretirementAssets_50B02EDACA301F24E2A8ECCAED30A5B4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Other Postretirement Assets </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesOtherPostretirementAssets_50B02EDACA301F24E2A8ECCAED30A5B4_documentation_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesOtherPostretirementAssets_50B02EDACA301F24E2A8ECCAED30A5B4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Other Postretirement Assets </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxLiabilitiesOtherPostretirementAssets" xlink:label="loc_pnw_DeferredTaxLiabilitiesOtherPostretirementAssets_50B02EDACA301F24E2A8ECCAED30A5B4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredTaxLiabilitiesOtherPostretirementAssets_50B02EDACA301F24E2A8ECCAED30A5B4" xlink:to="lab_pnw_DeferredTaxLiabilitiesOtherPostretirementAssets_50B02EDACA301F24E2A8ECCAED30A5B4" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAbstract_C1881B2850BA91B1EEC9ECCAED302A99_terseLabel_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAbstract_C1881B2850BA91B1EEC9ECCAED302A99" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Regulatory assets: </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAbstract_C1881B2850BA91B1EEC9ECCAED302A99_label_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAbstract_C1881B2850BA91B1EEC9ECCAED302A99" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Regulatory Assets [Abstract] </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAbstract_C1881B2850BA91B1EEC9ECCAED302A99_documentation_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAbstract_C1881B2850BA91B1EEC9ECCAED302A99" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxLiabilitiesRegulatoryAssetsAbstract" xlink:label="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAbstract_C1881B2850BA91B1EEC9ECCAED302A99" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAbstract_C1881B2850BA91B1EEC9ECCAED302A99" xlink:to="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAbstract_C1881B2850BA91B1EEC9ECCAED302A99" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAllowanceForEquityFundsUsedDuringConstruction_C45C5AD1ACE5081AB61CECCAED306506_negatedLabel_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAllowanceForEquityFundsUsedDuringConstruction_C45C5AD1ACE5081AB61CECCAED306506" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Allowance for equity funds used during construction </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAllowanceForEquityFundsUsedDuringConstruction_C45C5AD1ACE5081AB61CECCAED306506_label_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAllowanceForEquityFundsUsedDuringConstruction_C45C5AD1ACE5081AB61CECCAED306506" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Regulatory Assets Allowance for Equity Funds Used During Construction </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAllowanceForEquityFundsUsedDuringConstruction_C45C5AD1ACE5081AB61CECCAED306506_documentation_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAllowanceForEquityFundsUsedDuringConstruction_C45C5AD1ACE5081AB61CECCAED306506" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The amount as of the balance sheet date of the estimated future tax effects attributable to the difference between the tax basis and the basis in accordance with generally accepted accounting principles of regulatory assets related to allowance for equity funds used during construction which will increase future taxable income when such basis difference reverses. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxLiabilitiesRegulatoryAssetsAllowanceForEquityFundsUsedDuringConstruction" xlink:label="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAllowanceForEquityFundsUsedDuringConstruction_C45C5AD1ACE5081AB61CECCAED306506" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAllowanceForEquityFundsUsedDuringConstruction_C45C5AD1ACE5081AB61CECCAED306506" xlink:to="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsAllowanceForEquityFundsUsedDuringConstruction_C45C5AD1ACE5081AB61CECCAED306506" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPower_278338E6DA9081719560ECCAED30B1E2_negatedLabel_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPower_278338E6DA9081719560ECCAED30B1E2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Deferred fuel and purchased power </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPower_278338E6DA9081719560ECCAED30B1E2_label_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPower_278338E6DA9081719560ECCAED30B1E2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities Regulatory Assets Deferred Fuel and Purchased Power </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPower_278338E6DA9081719560ECCAED30B1E2_documentation_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPower_278338E6DA9081719560ECCAED30B1E2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The amount as of the balance sheet date of the estimated future tax effects attributable to the difference between the tax basis and the basis in accordance with generally accepted accounting principles of regulatory assets related to deferred fuel and purchased power which will increase future taxable income when such basis difference reverses. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPower" xlink:label="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPower_278338E6DA9081719560ECCAED30B1E2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPower_278338E6DA9081719560ECCAED30B1E2" xlink:to="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPower_278338E6DA9081719560ECCAED30B1E2" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPowerMarkToMarket_81940757E80742EF3A04ECCAED300DE6_negatedLabel_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPowerMarkToMarket_81940757E80742EF3A04ECCAED300DE6" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Deferred fuel and purchased power — mark-to-market </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPowerMarkToMarket_81940757E80742EF3A04ECCAED300DE6_label_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPowerMarkToMarket_81940757E80742EF3A04ECCAED300DE6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Regulatory Assets Deferred Fuel and Purchased Power Mark to Market </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPowerMarkToMarket_81940757E80742EF3A04ECCAED300DE6_documentation_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPowerMarkToMarket_81940757E80742EF3A04ECCAED300DE6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The amount as of the balance sheet date of the estimated future tax effects attributable to the difference between the tax basis and the basis in accordance with generally accepted accounting principles of regulatory assets related to deferred fuel and purchased power mark-to-market which will increase future taxable income when such basis difference reverses. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPowerMarkToMarket" xlink:label="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPowerMarkToMarket_81940757E80742EF3A04ECCAED300DE6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPowerMarkToMarket_81940757E80742EF3A04ECCAED300DE6" xlink:to="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsDeferredFuelAndPurchasedPowerMarkToMarket_81940757E80742EF3A04ECCAED300DE6" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsPensionAndOtherPostretirementBenefits_805B73DB025F725C9823ECCAED30695B_negatedLabel_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsPensionAndOtherPostretirementBenefits_805B73DB025F725C9823ECCAED30695B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Pension benefits </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsPensionAndOtherPostretirementBenefits_805B73DB025F725C9823ECCAED30695B_label_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsPensionAndOtherPostretirementBenefits_805B73DB025F725C9823ECCAED30695B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Regulatory Assets, Pension and Other Postretirement Benefits </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsPensionAndOtherPostretirementBenefits_805B73DB025F725C9823ECCAED30695B_documentation_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsPensionAndOtherPostretirementBenefits_805B73DB025F725C9823ECCAED30695B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The amount as of the balance sheet date of the estimated future tax effects attributable to the difference between the tax basis and the basis in accordance with generally accepted accounting principles of regulatory assets related to pension and other postretirement benefits which will increase future taxable income when such basis difference reverses. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxLiabilitiesRegulatoryAssetsPensionAndOtherPostretirementBenefits" xlink:label="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsPensionAndOtherPostretirementBenefits_805B73DB025F725C9823ECCAED30695B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsPensionAndOtherPostretirementBenefits_805B73DB025F725C9823ECCAED30695B" xlink:to="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsPensionAndOtherPostretirementBenefits_805B73DB025F725C9823ECCAED30695B" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsRetiredPowerPlanCosts_2F2A6479D50940225332ECCAED306AA5_negatedTerseLabel_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsRetiredPowerPlanCosts_2F2A6479D50940225332ECCAED306AA5" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Retired power plant costs (see Note 3) </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsRetiredPowerPlanCosts_2F2A6479D50940225332ECCAED306AA5_label_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsRetiredPowerPlanCosts_2F2A6479D50940225332ECCAED306AA5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Regulatory Assets Retired Power Plan Costs </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsRetiredPowerPlanCosts_2F2A6479D50940225332ECCAED306AA5_documentation_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsRetiredPowerPlanCosts_2F2A6479D50940225332ECCAED306AA5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Regulatory Assets Retired Power Plan Costs </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxLiabilitiesRegulatoryAssetsRetiredPowerPlanCosts" xlink:label="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsRetiredPowerPlanCosts_2F2A6479D50940225332ECCAED306AA5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsRetiredPowerPlanCosts_2F2A6479D50940225332ECCAED306AA5" xlink:to="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsRetiredPowerPlanCosts_2F2A6479D50940225332ECCAED306AA5" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsOther_DE2CD2FCE0DF7194D5D2ECCAED31584E_negatedLabel_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsOther_DE2CD2FCE0DF7194D5D2ECCAED31584E" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsOther_DE2CD2FCE0DF7194D5D2ECCAED31584E_label_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsOther_DE2CD2FCE0DF7194D5D2ECCAED31584E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Regulatory Assets, Other </link:label>

<link:label id="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsOther_DE2CD2FCE0DF7194D5D2ECCAED31584E_documentation_en-US" xlink:label="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsOther_DE2CD2FCE0DF7194D5D2ECCAED31584E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The amount as of the balance sheet date of the estimated future tax effects attributable to the difference between the tax basis and the basis in accordance with generally accepted accounting principles of other regulatory assets which will increase future taxable income when such basis difference reverses. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredTaxLiabilitiesRegulatoryAssetsOther" xlink:label="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsOther_DE2CD2FCE0DF7194D5D2ECCAED31584E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredTaxLiabilitiesRegulatoryAssetsOther_DE2CD2FCE0DF7194D5D2ECCAED31584E" xlink:to="lab_pnw_DeferredTaxLiabilitiesRegulatoryAssetsOther_DE2CD2FCE0DF7194D5D2ECCAED31584E" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredTaxLiabilitiesOther_83CCBBB4E5B5FB665479ECCAED31338D_negatedLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesOther_83CCBBB4E5B5FB665479ECCAED31338D" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_DeferredTaxLiabilitiesOther_83CCBBB4E5B5FB665479ECCAED31338D_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesOther_83CCBBB4E5B5FB665479ECCAED31338D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Other </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxLiabilitiesOther" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesOther_83CCBBB4E5B5FB665479ECCAED31338D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilitiesOther_83CCBBB4E5B5FB665479ECCAED31338D" xlink:to="lab_us-gaap_DeferredTaxLiabilitiesOther_83CCBBB4E5B5FB665479ECCAED31338D" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredIncomeTaxLiabilities_C37AA3BBF7820DA7DE97ECCAED31F186_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxLiabilities_C37AA3BBF7820DA7DE97ECCAED31F186" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total deferred tax liabilities </link:label>

<link:label id="lab_us-gaap_DeferredIncomeTaxLiabilities_C37AA3BBF7820DA7DE97ECCAED31F186_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxLiabilities_C37AA3BBF7820DA7DE97ECCAED31F186" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Liabilities, Gross </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilities" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilities_C37AA3BBF7820DA7DE97ECCAED31F186" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_C37AA3BBF7820DA7DE97ECCAED31F186" xlink:to="lab_us-gaap_DeferredIncomeTaxLiabilities_C37AA3BBF7820DA7DE97ECCAED31F186" xlink:type="arc"/>

<link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_E8D1A3F3D33B4E949C0A91C027B1A890_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_E8D1A3F3D33B4E949C0A91C027B1A890" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commitments and Contingencies </link:label>

<link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_E8D1A3F3D33B4E949C0A91C027B1A890_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_E8D1A3F3D33B4E949C0A91C027B1A890" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commitments and Contingencies Disclosure [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_E8D1A3F3D33B4E949C0A91C027B1A890" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_E8D1A3F3D33B4E949C0A91C027B1A890" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_E8D1A3F3D33B4E949C0A91C027B1A890" xlink:type="arc"/>

<link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_E5E73A67793E186F19E0B1877363C99D_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_E5E73A67793E186F19E0B1877363C99D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Summary of Significant Accounting Policies </link:label>

<link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_E5E73A67793E186F19E0B1877363C99D_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_E5E73A67793E186F19E0B1877363C99D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_E5E73A67793E186F19E0B1877363C99D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_E5E73A67793E186F19E0B1877363C99D" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_E5E73A67793E186F19E0B1877363C99D" xlink:type="arc"/>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_B7455FBBE4A38ED7097BECCAEADDEAE4_verboseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_B7455FBBE4A38ED7097BECCAEADDEAE4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Cash Flows from Operating Activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_B7455FBBE4A38ED7097BECCAEADDEAE4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_B7455FBBE4A38ED7097BECCAEADDEAE4" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_B7455FBBE4A38ED7097BECCAEADDEAE4" xlink:type="arc"/>

<link:label id="lab_pnw_EquityInEarningsLossesOfSubsidiaries_65D1583E55FEC3510C17ECCAEADD264B_negatedLabel_en-US" xlink:label="lab_pnw_EquityInEarningsLossesOfSubsidiaries_65D1583E55FEC3510C17ECCAEADD264B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Equity in earnings of subsidiaries - net </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_EquityInEarningsLossesOfSubsidiaries" xlink:label="loc_pnw_EquityInEarningsLossesOfSubsidiaries_65D1583E55FEC3510C17ECCAEADD264B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_EquityInEarningsLossesOfSubsidiaries_65D1583E55FEC3510C17ECCAEADD264B" xlink:to="lab_pnw_EquityInEarningsLossesOfSubsidiaries_65D1583E55FEC3510C17ECCAEADD264B" xlink:type="arc"/>

<link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_56B9B190A21F33E30834ECCAEADD27DF_verboseLabel_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization_56B9B190A21F33E30834ECCAEADD27DF" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Depreciation and amortization </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization_56B9B190A21F33E30834ECCAEADD27DF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationDepletionAndAmortization_56B9B190A21F33E30834ECCAEADD27DF" xlink:to="lab_us-gaap_DepreciationDepletionAndAmortization_56B9B190A21F33E30834ECCAEADD27DF" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInReceivables_CC546A710998F0B7ABF1ECCAEADDEC95_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInReceivables_CC546A710998F0B7ABF1ECCAEADDEC95" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Accounts receivable </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInReceivables" xlink:label="loc_us-gaap_IncreaseDecreaseInReceivables_CC546A710998F0B7ABF1ECCAEADDEC95" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInReceivables_CC546A710998F0B7ABF1ECCAEADDEC95" xlink:to="lab_us-gaap_IncreaseDecreaseInReceivables_CC546A710998F0B7ABF1ECCAEADDEC95" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_06A40875285B578D6988ECCAEADEB89B_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_06A40875285B578D6988ECCAEADEB89B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accrued taxes and income tax receivable - net </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_06A40875285B578D6988ECCAEADEB89B_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_06A40875285B578D6988ECCAEADEB89B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Income Taxes Payable </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_06A40875285B578D6988ECCAEADEB89B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_06A40875285B578D6988ECCAEADEB89B" xlink:to="lab_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_06A40875285B578D6988ECCAEADEB89B" xlink:type="arc"/>

<link:label id="lab_pnw_ProceedsFromDividendsReceivedFromSubsidiaries_CA60E66A1226B5CC6621ECCAEADE2066_terseLabel_en-US" xlink:label="lab_pnw_ProceedsFromDividendsReceivedFromSubsidiaries_CA60E66A1226B5CC6621ECCAEADE2066" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Dividends received from subsidiaries </link:label>

<link:label id="lab_pnw_ProceedsFromDividendsReceivedFromSubsidiaries_CA60E66A1226B5CC6621ECCAEADE2066_label_en-US" xlink:label="lab_pnw_ProceedsFromDividendsReceivedFromSubsidiaries_CA60E66A1226B5CC6621ECCAEADE2066" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Dividends Received from Subsidiaries </link:label>

<link:label id="lab_pnw_ProceedsFromDividendsReceivedFromSubsidiaries_CA60E66A1226B5CC6621ECCAEADE2066_documentation_en-US" xlink:label="lab_pnw_ProceedsFromDividendsReceivedFromSubsidiaries_CA60E66A1226B5CC6621ECCAEADE2066" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents dividends received from subsidiaries. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ProceedsFromDividendsReceivedFromSubsidiaries" xlink:label="loc_pnw_ProceedsFromDividendsReceivedFromSubsidiaries_CA60E66A1226B5CC6621ECCAEADE2066" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ProceedsFromDividendsReceivedFromSubsidiaries_CA60E66A1226B5CC6621ECCAEADE2066" xlink:to="lab_pnw_ProceedsFromDividendsReceivedFromSubsidiaries_CA60E66A1226B5CC6621ECCAEADE2066" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_CBAAEF31CE298B4C53EDECCAEADEDC69_terseLabel_en-US" xlink:label="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_CBAAEF31CE298B4C53EDECCAEADEDC69" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_CBAAEF31CE298B4C53EDECCAEADEDC69_label_en-US" xlink:label="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_CBAAEF31CE298B4C53EDECCAEADEDC69" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Operating Activities, Cash Flow Statement </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:label="loc_us-gaap_OtherOperatingActivitiesCashFlowStatement_CBAAEF31CE298B4C53EDECCAEADEDC69" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherOperatingActivitiesCashFlowStatement_CBAAEF31CE298B4C53EDECCAEADEDC69" xlink:to="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_CBAAEF31CE298B4C53EDECCAEADEDC69" xlink:type="arc"/>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_C9CE3B3F8C81DCA8E4DEECCAEADED3CF_verboseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_C9CE3B3F8C81DCA8E4DEECCAEADED3CF" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Cash flows from investing activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_C9CE3B3F8C81DCA8E4DEECCAEADED3CF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_C9CE3B3F8C81DCA8E4DEECCAEADED3CF" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_C9CE3B3F8C81DCA8E4DEECCAEADED3CF" xlink:type="arc"/>

<link:label id="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_AEEBDE4070D2225AFF9AECCAEADE39D5_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_AEEBDE4070D2225AFF9AECCAEADE39D5" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Construction work in progress </link:label>

<link:label id="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_AEEBDE4070D2225AFF9AECCAEADE39D5_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_AEEBDE4070D2225AFF9AECCAEADE39D5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments to Acquire Property, Plant, and Equipment </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_AEEBDE4070D2225AFF9AECCAEADE39D5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_AEEBDE4070D2225AFF9AECCAEADE39D5" xlink:to="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_AEEBDE4070D2225AFF9AECCAEADE39D5" xlink:type="arc"/>

<link:label id="lab_pnw_PaymentsToConsolidatedSubsidiaries_1105652154056FD70FFCECCAEADE4838_negatedLabel_en-US" xlink:label="lab_pnw_PaymentsToConsolidatedSubsidiaries_1105652154056FD70FFCECCAEADE4838" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Investments in subsidiaries </link:label>

<link:label id="lab_pnw_PaymentsToConsolidatedSubsidiaries_1105652154056FD70FFCECCAEADE4838_label_en-US" xlink:label="lab_pnw_PaymentsToConsolidatedSubsidiaries_1105652154056FD70FFCECCAEADE4838" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments to Consolidated Subsidiaries </link:label>

<link:label id="lab_pnw_PaymentsToConsolidatedSubsidiaries_1105652154056FD70FFCECCAEADE4838_documentation_en-US" xlink:label="lab_pnw_PaymentsToConsolidatedSubsidiaries_1105652154056FD70FFCECCAEADE4838" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the cash outflow associated with the contributions paid to the consolidated subsidiaries of the entity. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PaymentsToConsolidatedSubsidiaries" xlink:label="loc_pnw_PaymentsToConsolidatedSubsidiaries_1105652154056FD70FFCECCAEADE4838" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PaymentsToConsolidatedSubsidiaries_1105652154056FD70FFCECCAEADE4838" xlink:to="lab_pnw_PaymentsToConsolidatedSubsidiaries_1105652154056FD70FFCECCAEADE4838" xlink:type="arc"/>

<link:label id="lab_pnw_RepaymentsOfLoansFromSubsidiaries_32DE58EC398F02D894A7ECCAEADF596B_terseLabel_en-US" xlink:label="lab_pnw_RepaymentsOfLoansFromSubsidiaries_32DE58EC398F02D894A7ECCAEADF596B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Repayments of loans from subsidiaries </link:label>

<link:label id="lab_pnw_RepaymentsOfLoansFromSubsidiaries_32DE58EC398F02D894A7ECCAEADF596B_label_en-US" xlink:label="lab_pnw_RepaymentsOfLoansFromSubsidiaries_32DE58EC398F02D894A7ECCAEADF596B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Repayments of Loans from Subsidiaries </link:label>

<link:label id="lab_pnw_RepaymentsOfLoansFromSubsidiaries_32DE58EC398F02D894A7ECCAEADF596B_documentation_en-US" xlink:label="lab_pnw_RepaymentsOfLoansFromSubsidiaries_32DE58EC398F02D894A7ECCAEADF596B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the cash inflow associated with the repayments of loans from subsidiaries. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RepaymentsOfLoansFromSubsidiaries" xlink:label="loc_pnw_RepaymentsOfLoansFromSubsidiaries_32DE58EC398F02D894A7ECCAEADF596B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RepaymentsOfLoansFromSubsidiaries_32DE58EC398F02D894A7ECCAEADF596B" xlink:to="lab_pnw_RepaymentsOfLoansFromSubsidiaries_32DE58EC398F02D894A7ECCAEADF596B" xlink:type="arc"/>

<link:label id="lab_pnw_AdvancesOfLoansToSubsidiaries_6BC536C441C57D11E58CECCAEADF8B47_negatedTerseLabel_en-US" xlink:label="lab_pnw_AdvancesOfLoansToSubsidiaries_6BC536C441C57D11E58CECCAEADF8B47" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Advances of loans to subsidiaries </link:label>

<link:label id="lab_pnw_AdvancesOfLoansToSubsidiaries_6BC536C441C57D11E58CECCAEADF8B47_label_en-US" xlink:label="lab_pnw_AdvancesOfLoansToSubsidiaries_6BC536C441C57D11E58CECCAEADF8B47" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Advances of Loans to Subsidiaries </link:label>

<link:label id="lab_pnw_AdvancesOfLoansToSubsidiaries_6BC536C441C57D11E58CECCAEADF8B47_documentation_en-US" xlink:label="lab_pnw_AdvancesOfLoansToSubsidiaries_6BC536C441C57D11E58CECCAEADF8B47" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the cash outflow associated with the advances of loans to subsidiaries. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AdvancesOfLoansToSubsidiaries" xlink:label="loc_pnw_AdvancesOfLoansToSubsidiaries_6BC536C441C57D11E58CECCAEADF8B47" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AdvancesOfLoansToSubsidiaries_6BC536C441C57D11E58CECCAEADF8B47" xlink:to="lab_pnw_AdvancesOfLoansToSubsidiaries_6BC536C441C57D11E58CECCAEADF8B47" xlink:type="arc"/>

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<link:label id="lab_pnw_UnrecognizedTaxBenefitsInterestOnIncomeTaxesReceivable_7D54EAA55422E386A7B7ECCAED5656CA_terseLabel_en-US" xlink:label="lab_pnw_UnrecognizedTaxBenefitsInterestOnIncomeTaxesReceivable_7D54EAA55422E386A7B7ECCAED5656CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest income to be received on the overpayment of income taxes for certain adjustments that we have filed, or will file, with the IRS (less than) </link:label>

<link:label id="lab_pnw_UnrecognizedTaxBenefitsInterestOnIncomeTaxesReceivable_7D54EAA55422E386A7B7ECCAED5656CA_label_en-US" xlink:label="lab_pnw_UnrecognizedTaxBenefitsInterestOnIncomeTaxesReceivable_7D54EAA55422E386A7B7ECCAED5656CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecognized Tax Benefits Interest on Income Taxes Receivable </link:label>

<link:label id="lab_pnw_UnrecognizedTaxBenefitsInterestOnIncomeTaxesReceivable_7D54EAA55422E386A7B7ECCAED5656CA_documentation_en-US" xlink:label="lab_pnw_UnrecognizedTaxBenefitsInterestOnIncomeTaxesReceivable_7D54EAA55422E386A7B7ECCAED5656CA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the amount of interest income to be received on the overpayment of income taxes for certain adjustments that the company has filed, or will file, with the IRS. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_UnrecognizedTaxBenefitsInterestOnIncomeTaxesReceivable" xlink:label="loc_pnw_UnrecognizedTaxBenefitsInterestOnIncomeTaxesReceivable_7D54EAA55422E386A7B7ECCAED5656CA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_UnrecognizedTaxBenefitsInterestOnIncomeTaxesReceivable_7D54EAA55422E386A7B7ECCAED5656CA" xlink:to="lab_pnw_UnrecognizedTaxBenefitsInterestOnIncomeTaxesReceivable_7D54EAA55422E386A7B7ECCAED5656CA" xlink:type="arc"/>

<link:label id="lab_pnw_PhaseInPeriodOfCorporateIncomeTaxRateReductions_FF1C13B4C37650FDFBC1ECCAED5603CD_terseLabel_en-US" xlink:label="lab_pnw_PhaseInPeriodOfCorporateIncomeTaxRateReductions_FF1C13B4C37650FDFBC1ECCAED5603CD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Phase-in period of corporate income tax rate reductions beginning in 2014 </link:label>

<link:label id="lab_pnw_PhaseInPeriodOfCorporateIncomeTaxRateReductions_FF1C13B4C37650FDFBC1ECCAED5603CD_label_en-US" xlink:label="lab_pnw_PhaseInPeriodOfCorporateIncomeTaxRateReductions_FF1C13B4C37650FDFBC1ECCAED5603CD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Phase in Period of Corporate Income Tax Rate Reductions </link:label>

<link:label id="lab_pnw_PhaseInPeriodOfCorporateIncomeTaxRateReductions_FF1C13B4C37650FDFBC1ECCAED5603CD_documentation_en-US" xlink:label="lab_pnw_PhaseInPeriodOfCorporateIncomeTaxRateReductions_FF1C13B4C37650FDFBC1ECCAED5603CD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Phase-in period of corporate income tax rate reductions beginning in 2014 by Arizona enacted legislation (H.B. 2001). </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PhaseInPeriodOfCorporateIncomeTaxRateReductions" xlink:label="loc_pnw_PhaseInPeriodOfCorporateIncomeTaxRateReductions_FF1C13B4C37650FDFBC1ECCAED5603CD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PhaseInPeriodOfCorporateIncomeTaxRateReductions_FF1C13B4C37650FDFBC1ECCAED5603CD" xlink:to="lab_pnw_PhaseInPeriodOfCorporateIncomeTaxRateReductions_FF1C13B4C37650FDFBC1ECCAED5603CD" xlink:type="arc"/>

<link:label id="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRateChanges_BE7692C00F01C5887D05ECCAED56CB75_negatedTerseLabel_en-US" xlink:label="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRateChanges_BE7692C00F01C5887D05ECCAED56CB75" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Decrease in long term deferred tax liability due to rate changes </link:label>

<link:label id="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRateChanges_BE7692C00F01C5887D05ECCAED56CB75_label_en-US" xlink:label="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRateChanges_BE7692C00F01C5887D05ECCAED56CB75" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Deferred Income Taxes Due to Rate Changes </link:label>

<link:label id="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRateChanges_BE7692C00F01C5887D05ECCAED56CB75_documentation_en-US" xlink:label="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRateChanges_BE7692C00F01C5887D05ECCAED56CB75" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa, due to rate changes. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRateChanges" xlink:label="loc_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRateChanges_BE7692C00F01C5887D05ECCAED56CB75" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRateChanges_BE7692C00F01C5887D05ECCAED56CB75" xlink:to="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRateChanges_BE7692C00F01C5887D05ECCAED56CB75" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness_32989E3495F47454D20EECCAED56FFE1_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness_32989E3495F47454D20EECCAED56FFE1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> General business tax credit carryforwards that will begin to expire in 2031 </link:label>

<link:label id="lab_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness_32989E3495F47454D20EECCAED56FFE1_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness_32989E3495F47454D20EECCAED56FFE1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Tax Credit Carryforwards, General Business </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness_32989E3495F47454D20EECCAED56FFE1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness_32989E3495F47454D20EECCAED56FFE1" xlink:to="lab_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness_32989E3495F47454D20EECCAED56FFE1" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_5FE7CF8BECF3BBF557CCECCAED56CC96_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_5FE7CF8BECF3BBF557CCECCAED56CC96" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amount of federal and state loss carryforwards which will begin to expire in 2019 </link:label>

<link:label id="lab_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_5FE7CF8BECF3BBF557CCECCAED56CC96_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_5FE7CF8BECF3BBF557CCECCAED56CC96" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Tax Assets, Operating Loss Carryforwards </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:label="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_5FE7CF8BECF3BBF557CCECCAED56CC96" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_5FE7CF8BECF3BBF557CCECCAED56CC96" xlink:to="lab_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_5FE7CF8BECF3BBF557CCECCAED56CC96" xlink:type="arc"/>

<link:label id="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRegulationAdoption_872D1A12C4C2EBFBB038ECCAED57EEBB_negatedTerseLabel_en-US" xlink:label="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRegulationAdoption_872D1A12C4C2EBFBB038ECCAED57EEBB" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Decrease in long term deferred tax liability due to adoption of regulations </link:label>

<link:label id="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRegulationAdoption_872D1A12C4C2EBFBB038ECCAED57EEBB_label_en-US" xlink:label="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRegulationAdoption_872D1A12C4C2EBFBB038ECCAED57EEBB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Deferred Income Taxes Due to Regulation Adoption </link:label>

<link:label id="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRegulationAdoption_872D1A12C4C2EBFBB038ECCAED57EEBB_documentation_en-US" xlink:label="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRegulationAdoption_872D1A12C4C2EBFBB038ECCAED57EEBB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa, due to the adoption of regulations. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRegulationAdoption" xlink:label="loc_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRegulationAdoption_872D1A12C4C2EBFBB038ECCAED57EEBB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRegulationAdoption_872D1A12C4C2EBFBB038ECCAED57EEBB" xlink:to="lab_pnw_IncreaseDecreaseInDeferredIncomeTaxesDueToRegulationAdoption_872D1A12C4C2EBFBB038ECCAED57EEBB" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_75F241839A96AFA14E63A9269489CB08_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock_75F241839A96AFA14E63A9269489CB08" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income Taxes </link:label>

<link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_75F241839A96AFA14E63A9269489CB08_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock_75F241839A96AFA14E63A9269489CB08" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax Disclosure [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="loc_us-gaap_IncomeTaxDisclosureTextBlock_75F241839A96AFA14E63A9269489CB08" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureTextBlock_75F241839A96AFA14E63A9269489CB08" xlink:to="lab_us-gaap_IncomeTaxDisclosureTextBlock_75F241839A96AFA14E63A9269489CB08" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_543BB2B0FA5AB0AF34D091C025A9F221_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_543BB2B0FA5AB0AF34D091C025A9F221" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Components of long-term debt on the Consolidated Balance Sheets </link:label>

<link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_543BB2B0FA5AB0AF34D091C025A9F221_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_543BB2B0FA5AB0AF34D091C025A9F221" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Long-term Debt Instruments [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:label="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock_543BB2B0FA5AB0AF34D091C025A9F221" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock_543BB2B0FA5AB0AF34D091C025A9F221" xlink:to="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_543BB2B0FA5AB0AF34D091C025A9F221" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_FF60F1B4F048E066916C91C025A9129B_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_FF60F1B4F048E066916C91C025A9129B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Principal payments due on Pinnacle West's and APS's total long-term debt </link:label>

<link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_FF60F1B4F048E066916C91C025A9129B_label_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_FF60F1B4F048E066916C91C025A9129B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Maturities of Long-term Debt [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_FF60F1B4F048E066916C91C025A9129B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_FF60F1B4F048E066916C91C025A9129B" xlink:to="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_FF60F1B4F048E066916C91C025A9129B" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_D4BD4EBC4846DB6D2AB291C025A9D26F_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_D4BD4EBC4846DB6D2AB291C025A9D26F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of estimated fair value of long-term debt, including current maturities </link:label>

<link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_D4BD4EBC4846DB6D2AB291C025A9D26F_label_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_D4BD4EBC4846DB6D2AB291C025A9D26F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, by Balance Sheet Grouping [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:label="loc_us-gaap_FairValueByBalanceSheetGroupingTextBlock_D4BD4EBC4846DB6D2AB291C025A9D26F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByBalanceSheetGroupingTextBlock_D4BD4EBC4846DB6D2AB291C025A9D26F" xlink:to="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_D4BD4EBC4846DB6D2AB291C025A9D26F" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShortTermDebtTextBlock_43EC939054D08F9ECE2A91C025B66C81_terseLabel_en-US" xlink:label="lab_us-gaap_ShortTermDebtTextBlock_43EC939054D08F9ECE2A91C025B66C81" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Lines of Credit and Short-Term Borrowings </link:label>

<link:label id="lab_us-gaap_ShortTermDebtTextBlock_43EC939054D08F9ECE2A91C025B66C81_label_en-US" xlink:label="lab_us-gaap_ShortTermDebtTextBlock_43EC939054D08F9ECE2A91C025B66C81" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Short-term Debt [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShortTermDebtTextBlock" xlink:label="loc_us-gaap_ShortTermDebtTextBlock_43EC939054D08F9ECE2A91C025B66C81" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShortTermDebtTextBlock_43EC939054D08F9ECE2A91C025B66C81" xlink:to="lab_us-gaap_ShortTermDebtTextBlock_43EC939054D08F9ECE2A91C025B66C81" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_0A1BF4EEF8FB3C2438D791C026CFB5FF_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_0A1BF4EEF8FB3C2438D791C026CFB5FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of earnings per weighted average common share outstanding </link:label>

<link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_0A1BF4EEF8FB3C2438D791C026CFB5FF_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_0A1BF4EEF8FB3C2438D791C026CFB5FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_0A1BF4EEF8FB3C2438D791C026CFB5FF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_0A1BF4EEF8FB3C2438D791C026CFB5FF" xlink:to="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_0A1BF4EEF8FB3C2438D791C026CFB5FF" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilityPropertyPlantAndEquipmentTable_87886BC2934A68744CC9C6F782B95274_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilityPropertyPlantAndEquipmentTable_87886BC2934A68744CC9C6F782B95274" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Public Utility, Property, Plant and Equipment [Table] </link:label>

<link:label id="lab_us-gaap_PublicUtilityPropertyPlantAndEquipmentTable_87886BC2934A68744CC9C6F782B95274_label_en-US" xlink:label="lab_us-gaap_PublicUtilityPropertyPlantAndEquipmentTable_87886BC2934A68744CC9C6F782B95274" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utility, Property, Plant and Equipment [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilityPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaap_PublicUtilityPropertyPlantAndEquipmentTable_87886BC2934A68744CC9C6F782B95274" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PublicUtilityAxis_0012A69C62E42F1C2963C6F782B969B4_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilityAxis_0012A69C62E42F1C2963C6F782B969B4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Public Utility [Axis] </link:label>

<link:label id="lab_us-gaap_PublicUtilityAxis_0012A69C62E42F1C2963C6F782B969B4_label_en-US" xlink:label="lab_us-gaap_PublicUtilityAxis_0012A69C62E42F1C2963C6F782B969B4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utility [Axis] </link:label>

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<link:label id="lab_us-gaap_UtilityPlantDomain_687207682ABDA34A94C5C6F782B95AFC_terseLabel_en-US" xlink:label="lab_us-gaap_UtilityPlantDomain_687207682ABDA34A94C5C6F782B95AFC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Utility Plant [Domain] </link:label>

<link:label id="lab_us-gaap_UtilityPlantDomain_687207682ABDA34A94C5C6F782B95AFC_label_en-US" xlink:label="lab_us-gaap_UtilityPlantDomain_687207682ABDA34A94C5C6F782B95AFC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Utility Plant [Domain] </link:label>

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<link:label id="lab_us-gaap_ElectricityGenerationPlantNonNuclearMember_30A4547904AF39D0904FC6F782B96C99_terseLabel_en-US" xlink:label="lab_us-gaap_ElectricityGenerationPlantNonNuclearMember_30A4547904AF39D0904FC6F782B96C99" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Electric Service </link:label>

<link:label id="lab_us-gaap_ElectricityGenerationPlantNonNuclearMember_30A4547904AF39D0904FC6F782B96C99_label_en-US" xlink:label="lab_us-gaap_ElectricityGenerationPlantNonNuclearMember_30A4547904AF39D0904FC6F782B96C99" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Electricity Generation Plant, Non-Nuclear [Member] </link:label>

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<link:label id="lab_us-gaap_PublicUtilityPropertyPlantAndEquipmentLineItems_953799FD833F949B1C46C6F782B99FE4_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilityPropertyPlantAndEquipmentLineItems_953799FD833F949B1C46C6F782B99FE4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Utility Plant and Depreciation [Line Items] </link:label>

<link:label id="lab_us-gaap_PublicUtilityPropertyPlantAndEquipmentLineItems_953799FD833F949B1C46C6F782B99FE4_label_en-US" xlink:label="lab_us-gaap_PublicUtilityPropertyPlantAndEquipmentLineItems_953799FD833F949B1C46C6F782B99FE4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utility, Property, Plant and Equipment [Line Items] </link:label>

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<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentGenerationOrProcessing_3078FDF19A473F0CD9B5C6F782B97F4A_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentGenerationOrProcessing_3078FDF19A473F0CD9B5C6F782B97F4A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Generation </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentGenerationOrProcessing_3078FDF19A473F0CD9B5C6F782B97F4A_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentGenerationOrProcessing_3078FDF19A473F0CD9B5C6F782B97F4A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Property, Plant and Equipment, Generation or Processing </link:label>

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<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentTransmission_27AEAF5A8A5B927ECACCC6F782B923F9_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentTransmission_27AEAF5A8A5B927ECACCC6F782B923F9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Transmission </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentTransmission_27AEAF5A8A5B927ECACCC6F782B923F9_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentTransmission_27AEAF5A8A5B927ECACCC6F782B923F9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Property, Plant and Equipment, Transmission </link:label>

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<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDistribution_3CD6C50F58CAE3E546EDC6F782B91C09_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDistribution_3CD6C50F58CAE3E546EDC6F782B91C09" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Distribution </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDistribution_3CD6C50F58CAE3E546EDC6F782B91C09_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDistribution_3CD6C50F58CAE3E546EDC6F782B91C09" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Property, Plant and Equipment, Distribution </link:label>

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<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment_1892D93767A707E5CF49C6F782B909E9_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment_1892D93767A707E5CF49C6F782B909E9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> General plant </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment_1892D93767A707E5CF49C6F782B909E9_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment_1892D93767A707E5CF49C6F782B909E9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Property, Plant and Equipment, Other Property, Plant and Equipment </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment_1892D93767A707E5CF49C6F782B909E9" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_E4FC523FDC9E92BF0281C6F782B95702_totalLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_E4FC523FDC9E92BF0281C6F782B95702" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Plant in service and held for future use </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_E4FC523FDC9E92BF0281C6F782B95702_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_E4FC523FDC9E92BF0281C6F782B95702" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Property, Plant and Equipment, Plant in Service </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentPlantInService_E4FC523FDC9E92BF0281C6F782B95702" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation_B73E84A83CF2AD72A14EC6F782B9428E_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation_B73E84A83CF2AD72A14EC6F782B9428E" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated depreciation and amortization </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation_B73E84A83CF2AD72A14EC6F782B9428E_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation_B73E84A83CF2AD72A14EC6F782B9428E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Property, Plant and Equipment, Accumulated Depreciation </link:label>

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<link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_5D4272F57CA7BCEEB177C6F782B9FAA0_verboseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_5D4272F57CA7BCEEB177C6F782B9FAA0" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Intangible assets, net of accumulated amortization </link:label>

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<link:label id="lab_us-gaap_NuclearFuelNetOfAmortization_8EA16B576CF38B113623C6F782B9DEBC_verboseLabel_en-US" xlink:label="lab_us-gaap_NuclearFuelNetOfAmortization_8EA16B576CF38B113623C6F782B9DEBC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Nuclear fuel, net of accumulated amortization </link:label>

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<link:label id="lab_us-gaap_ScheduleOfValuationAndQualifyingAccountsDisclosureTextBlock_30C4CA162CB12C94A26E91C027A60395_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfValuationAndQualifyingAccountsDisclosureTextBlock_30C4CA162CB12C94A26E91C027A60395" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> SCHEDULE II - RESERVE FOR UNCOLLECTIBLES </link:label>

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<link:label id="lab_us-gaap_ScheduleOfChangeInAssetRetirementObligationTableTextBlock_523236796F4BC2916E1691C027DE11CC_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfChangeInAssetRetirementObligationTableTextBlock_523236796F4BC2916E1691C027DE11CC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in asset retirement obligations </link:label>

<link:label id="lab_us-gaap_ScheduleOfChangeInAssetRetirementObligationTableTextBlock_523236796F4BC2916E1691C027DE11CC_label_en-US" xlink:label="lab_us-gaap_ScheduleOfChangeInAssetRetirementObligationTableTextBlock_523236796F4BC2916E1691C027DE11CC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Change in Asset Retirement Obligation [Table Text Block] </link:label>

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<link:label id="lab_us-gaap_InvestmentIncomeInterest_46456F3D4C1A4E0D942198B2A0F37E67_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest_46456F3D4C1A4E0D942198B2A0F37E67" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest income </link:label>

<link:label id="lab_us-gaap_InvestmentIncomeInterest_46456F3D4C1A4E0D942198B2A0F37E67_label_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest_46456F3D4C1A4E0D942198B2A0F37E67" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investment Income, Interest </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="loc_us-gaap_InvestmentIncomeInterest_46456F3D4C1A4E0D942198B2A0F37E67" xlink:type="locator"/>

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<link:label id="lab_us-gaap_GainLossOnInvestments_A956A5F2E27DE2C4EB5198B2A0F35C04_terseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnInvestments_A956A5F2E27DE2C4EB5198B2A0F35C04" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt return on the purchase of Four Corners units 4 & 5 </link:label>

<link:label id="lab_us-gaap_GainLossOnInvestments_A956A5F2E27DE2C4EB5198B2A0F35C04_label_en-US" xlink:label="lab_us-gaap_GainLossOnInvestments_A956A5F2E27DE2C4EB5198B2A0F35C04" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Gain (Loss) on Investments </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainLossOnInvestments" xlink:label="loc_us-gaap_GainLossOnInvestments_A956A5F2E27DE2C4EB5198B2A0F35C04" xlink:type="locator"/>

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<link:label id="lab_us-gaap_GainOnSaleOfInvestments_18A0AD6ECD769CD68FA798B2A0F38176_terseLabel_en-US" xlink:label="lab_us-gaap_GainOnSaleOfInvestments_18A0AD6ECD769CD68FA798B2A0F38176" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investment gains - net </link:label>

<link:label id="lab_us-gaap_GainOnSaleOfInvestments_18A0AD6ECD769CD68FA798B2A0F38176_label_en-US" xlink:label="lab_us-gaap_GainOnSaleOfInvestments_18A0AD6ECD769CD68FA798B2A0F38176" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Gain on Sale of Investments </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainOnSaleOfInvestments" xlink:label="loc_us-gaap_GainOnSaleOfInvestments_18A0AD6ECD769CD68FA798B2A0F38176" xlink:type="locator"/>

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<link:label id="lab_pnw_MiscellaneousOtherNonoperatingIncome_735B2CB4AE9D167ED3E498B2A0F34975_terseLabel_en-US" xlink:label="lab_pnw_MiscellaneousOtherNonoperatingIncome_735B2CB4AE9D167ED3E498B2A0F34975" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Miscellaneous </link:label>

<link:label id="lab_pnw_MiscellaneousOtherNonoperatingIncome_735B2CB4AE9D167ED3E498B2A0F34975_label_en-US" xlink:label="lab_pnw_MiscellaneousOtherNonoperatingIncome_735B2CB4AE9D167ED3E498B2A0F34975" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Miscellaneous Other Nonoperating Income </link:label>

<link:label id="lab_pnw_MiscellaneousOtherNonoperatingIncome_735B2CB4AE9D167ED3E498B2A0F34975_documentation_en-US" xlink:label="lab_pnw_MiscellaneousOtherNonoperatingIncome_735B2CB4AE9D167ED3E498B2A0F34975" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount of miscellaneous other nonoperating income resulting from ancillary business-related activities (that is, excluding major activities considered as a part of the normal operations of the business). </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_MiscellaneousOtherNonoperatingIncome" xlink:label="loc_pnw_MiscellaneousOtherNonoperatingIncome_735B2CB4AE9D167ED3E498B2A0F34975" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherNonoperatingIncome_0DFD28849DE45011502C98B2A0F3B561_totalLabel_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncome_0DFD28849DE45011502C98B2A0F3B561" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total other income </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherNonoperatingIncome" xlink:label="loc_us-gaap_OtherNonoperatingIncome_0DFD28849DE45011502C98B2A0F3B561" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNonoperatingIncome_0DFD28849DE45011502C98B2A0F3B561" xlink:to="lab_us-gaap_OtherNonoperatingIncome_0DFD28849DE45011502C98B2A0F3B561" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherExpenseDisclosureNonoperatingAbstract_C20A1B13F3053D1D48F498B2A0F3FE6E_terseLabel_en-US" xlink:label="lab_us-gaap_OtherExpenseDisclosureNonoperatingAbstract_C20A1B13F3053D1D48F498B2A0F3FE6E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other expense: </link:label>

<link:label id="lab_us-gaap_OtherExpenseDisclosureNonoperatingAbstract_C20A1B13F3053D1D48F498B2A0F3FE6E_label_en-US" xlink:label="lab_us-gaap_OtherExpenseDisclosureNonoperatingAbstract_C20A1B13F3053D1D48F498B2A0F3FE6E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Expense, Nonoperating [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherExpenseDisclosureNonoperatingAbstract" xlink:label="loc_us-gaap_OtherExpenseDisclosureNonoperatingAbstract_C20A1B13F3053D1D48F498B2A0F3FE6E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherExpenseDisclosureNonoperatingAbstract_C20A1B13F3053D1D48F498B2A0F3FE6E" xlink:to="lab_us-gaap_OtherExpenseDisclosureNonoperatingAbstract_C20A1B13F3053D1D48F498B2A0F3FE6E" xlink:type="arc"/>

<link:label id="lab_pnw_NonoperatingCosts_76B0E4F3E5E1571FF81E98B2A0F3C649_negatedLabel_en-US" xlink:label="lab_pnw_NonoperatingCosts_76B0E4F3E5E1571FF81E98B2A0F3C649" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Non-operating costs </link:label>

<link:label id="lab_pnw_NonoperatingCosts_76B0E4F3E5E1571FF81E98B2A0F3C649_label_en-US" xlink:label="lab_pnw_NonoperatingCosts_76B0E4F3E5E1571FF81E98B2A0F3C649" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Nonoperating Costs </link:label>

<link:label id="lab_pnw_NonoperatingCosts_76B0E4F3E5E1571FF81E98B2A0F3C649_documentation_en-US" xlink:label="lab_pnw_NonoperatingCosts_76B0E4F3E5E1571FF81E98B2A0F3C649" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount of nonoperating costs resulting from the ancillary business-related activities (that is, excluding major activities considered as a part of the normal operations of the business) recognized during the period. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NonoperatingCosts" xlink:label="loc_pnw_NonoperatingCosts_76B0E4F3E5E1571FF81E98B2A0F3C649" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NonoperatingCosts_76B0E4F3E5E1571FF81E98B2A0F3C649" xlink:to="lab_pnw_NonoperatingCosts_76B0E4F3E5E1571FF81E98B2A0F3C649" xlink:type="arc"/>

<link:label id="lab_us-gaap_GainLossOnDispositionOfAssets_4E959C69FC418FA31AF098B2A0F4F553_terseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfAssets_4E959C69FC418FA31AF098B2A0F4F553" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Asset dispositions </link:label>

<link:label id="lab_us-gaap_GainLossOnDispositionOfAssets_4E959C69FC418FA31AF098B2A0F4F553_label_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfAssets_4E959C69FC418FA31AF098B2A0F4F553" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainLossOnDispositionOfAssets" xlink:label="loc_us-gaap_GainLossOnDispositionOfAssets_4E959C69FC418FA31AF098B2A0F4F553" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnDispositionOfAssets_4E959C69FC418FA31AF098B2A0F4F553" xlink:to="lab_us-gaap_GainLossOnDispositionOfAssets_4E959C69FC418FA31AF098B2A0F4F553" xlink:type="arc"/>

<link:label id="lab_us-gaap_LossOnSaleOfInvestments_A637BE455C77305017DF98B2A0F4D7EA_negatedLabel_en-US" xlink:label="lab_us-gaap_LossOnSaleOfInvestments_A637BE455C77305017DF98B2A0F4D7EA" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Investment loss - net </link:label>

<link:label id="lab_us-gaap_LossOnSaleOfInvestments_A637BE455C77305017DF98B2A0F4D7EA_label_en-US" xlink:label="lab_us-gaap_LossOnSaleOfInvestments_A637BE455C77305017DF98B2A0F4D7EA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss on Sale of Investments </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LossOnSaleOfInvestments" xlink:label="loc_us-gaap_LossOnSaleOfInvestments_A637BE455C77305017DF98B2A0F4D7EA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossOnSaleOfInvestments_A637BE455C77305017DF98B2A0F4D7EA" xlink:to="lab_us-gaap_LossOnSaleOfInvestments_A637BE455C77305017DF98B2A0F4D7EA" xlink:type="arc"/>

<link:label id="lab_pnw_MiscellaneousOtherNonoperatingExpense_751CF2D5FC02B21F5CEB98B2A0F4677D_negatedLabel_en-US" xlink:label="lab_pnw_MiscellaneousOtherNonoperatingExpense_751CF2D5FC02B21F5CEB98B2A0F4677D" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Miscellaneous </link:label>

<link:label id="lab_pnw_MiscellaneousOtherNonoperatingExpense_751CF2D5FC02B21F5CEB98B2A0F4677D_label_en-US" xlink:label="lab_pnw_MiscellaneousOtherNonoperatingExpense_751CF2D5FC02B21F5CEB98B2A0F4677D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Miscellaneous Other Nonoperating Expense </link:label>

<link:label id="lab_pnw_MiscellaneousOtherNonoperatingExpense_751CF2D5FC02B21F5CEB98B2A0F4677D_documentation_en-US" xlink:label="lab_pnw_MiscellaneousOtherNonoperatingExpense_751CF2D5FC02B21F5CEB98B2A0F4677D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount of miscellaneous other nonoperating expenses resulting from ancillary business-related activities (that is, excluding major activities considered as a part of the normal operations of the business). </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_MiscellaneousOtherNonoperatingExpense" xlink:label="loc_pnw_MiscellaneousOtherNonoperatingExpense_751CF2D5FC02B21F5CEB98B2A0F4677D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherNonoperatingExpense_8E4A14483D23DF1829A998B2A0F4D04E_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_OtherNonoperatingExpense_8E4A14483D23DF1829A998B2A0F4D04E" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US"> Total other expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherNonoperatingExpense" xlink:label="loc_us-gaap_OtherNonoperatingExpense_8E4A14483D23DF1829A998B2A0F4D04E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNonoperatingExpense_8E4A14483D23DF1829A998B2A0F4D04E" xlink:to="lab_us-gaap_OtherNonoperatingExpense_8E4A14483D23DF1829A998B2A0F4D04E" xlink:type="arc"/>

<link:label id="lab_us-gaap_LeasesOfLesseeDisclosureTextBlock_03A400E63244919AA0F191C0277B81C4_terseLabel_en-US" xlink:label="lab_us-gaap_LeasesOfLesseeDisclosureTextBlock_03A400E63244919AA0F191C0277B81C4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Leases </link:label>

<link:label id="lab_us-gaap_LeasesOfLesseeDisclosureTextBlock_03A400E63244919AA0F191C0277B81C4_label_en-US" xlink:label="lab_us-gaap_LeasesOfLesseeDisclosureTextBlock_03A400E63244919AA0F191C0277B81C4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Leases of Lessee Disclosure [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeasesOfLesseeDisclosureTextBlock" xlink:label="loc_us-gaap_LeasesOfLesseeDisclosureTextBlock_03A400E63244919AA0F191C0277B81C4" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_39C206AC6425D56B0A14C382153A3F53_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_39C206AC6425D56B0A14C382153A3F53" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Summary of Nonvested Restricted Stock, Stock Grants and Stock Units </link:label>

<link:label id="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_39C206AC6425D56B0A14C382153A3F53_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_39C206AC6425D56B0A14C382153A3F53" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_39C206AC6425D56B0A14C382153A3F53" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock_636F7D76968A57545D83C382153AE9FF_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock_636F7D76968A57545D83C382153AE9FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Summary of Nonvested Performance Shares </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock_636F7D76968A57545D83C382153AE9FF_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock_636F7D76968A57545D83C382153AE9FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation, Performance Shares Award Unvested Activity [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock" xlink:label="loc_us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock_636F7D76968A57545D83C382153AE9FF" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_65DD36D58E8246F208DB91C025550448_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_65DD36D58E8246F208DB91C025550448" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative Accounting </link:label>

<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_65DD36D58E8246F208DB91C025550448_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_65DD36D58E8246F208DB91C025550448" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Instruments and Hedging Activities Disclosure [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_65DD36D58E8246F208DB91C025550448" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_65DD36D58E8246F208DB91C025550448" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_65DD36D58E8246F208DB91C025550448" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityRollForward_E11E2BA001DEE23BF73691C025A7589E_terseLabel_en-US" xlink:label="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityRollForward_E11E2BA001DEE23BF73691C025A7589E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in regulatory asset </link:label>

<link:label id="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityRollForward_E11E2BA001DEE23BF73691C025A7589E_label_en-US" xlink:label="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityRollForward_E11E2BA001DEE23BF73691C025A7589E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Fuel and Purchased Power Regulatory Asset (Liability) [Roll Forward] </link:label>

<link:label id="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityRollForward_E11E2BA001DEE23BF73691C025A7589E_documentation_en-US" xlink:label="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityRollForward_E11E2BA001DEE23BF73691C025A7589E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityRollForward" xlink:label="loc_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityRollForward_E11E2BA001DEE23BF73691C025A7589E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityRollForward_E11E2BA001DEE23BF73691C025A7589E" xlink:to="lab_pnw_DeferredFuelAndPurchasedPowerRegulatoryAssetLiabilityRollForward_E11E2BA001DEE23BF73691C025A7589E" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_7622B5865A68D68BB0CB91C025A736FF_periodStartLabel_en-US" xlink:label="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_7622B5865A68D68BB0CB91C025A736FF" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Beginning balance </link:label>

<link:label id="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_7622B5865A68D68BB0CB91C025A736FF_label_en-US" xlink:label="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_7622B5865A68D68BB0CB91C025A736FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Fuel and Purchased Power Regulatory Asset (Liability), Current </link:label>

<link:label id="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_7622B5865A68D68BB0CB91C025A736FF_documentation_en-US" xlink:label="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_7622B5865A68D68BB0CB91C025A736FF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Deferred Fuel and Purchased Power Regulatory Asset (Liability), Current </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent" xlink:label="loc_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_7622B5865A68D68BB0CB91C025A736FF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_7622B5865A68D68BB0CB91C025A736FF" xlink:to="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_7622B5865A68D68BB0CB91C025A736FF" xlink:type="arc"/>

<link:label id="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_D5541ED8C8970D69FF9891C025A775C8_periodEndLabel_en-US" xlink:label="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_D5541ED8C8970D69FF9891C025A775C8" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Ending balance </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent" xlink:label="loc_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_D5541ED8C8970D69FF9891C025A775C8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_D5541ED8C8970D69FF9891C025A775C8" xlink:to="lab_pnw_DeferredFuelandPurchasedPowerRegulatoryAssetLiabilityCurrent_D5541ED8C8970D69FF9891C025A775C8" xlink:type="arc"/>

<link:label id="lab_us-gaap_FossilFuelPlantMember_6FD61CD29A0FB5115DD8A7972DB03D69_terseLabel_en-US" xlink:label="lab_us-gaap_FossilFuelPlantMember_6FD61CD29A0FB5115DD8A7972DB03D69" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fossil plant </link:label>

<link:label id="lab_us-gaap_FossilFuelPlantMember_6FD61CD29A0FB5115DD8A7972DB03D69_label_en-US" xlink:label="lab_us-gaap_FossilFuelPlantMember_6FD61CD29A0FB5115DD8A7972DB03D69" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fossil Fuel Plant [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FossilFuelPlantMember" xlink:label="loc_us-gaap_FossilFuelPlantMember_6FD61CD29A0FB5115DD8A7972DB03D69" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FossilFuelPlantMember_6FD61CD29A0FB5115DD8A7972DB03D69" xlink:to="lab_us-gaap_FossilFuelPlantMember_6FD61CD29A0FB5115DD8A7972DB03D69" xlink:type="arc"/>

<link:label id="lab_us-gaap_NuclearPlantMember_2E72A038CF26AFE3264BA7972DB09E41_terseLabel_en-US" xlink:label="lab_us-gaap_NuclearPlantMember_2E72A038CF26AFE3264BA7972DB09E41" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Nuclear plant </link:label>

<link:label id="lab_us-gaap_NuclearPlantMember_2E72A038CF26AFE3264BA7972DB09E41_label_en-US" xlink:label="lab_us-gaap_NuclearPlantMember_2E72A038CF26AFE3264BA7972DB09E41" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Nuclear Plant [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NuclearPlantMember" xlink:label="loc_us-gaap_NuclearPlantMember_2E72A038CF26AFE3264BA7972DB09E41" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NuclearPlantMember_2E72A038CF26AFE3264BA7972DB09E41" xlink:to="lab_us-gaap_NuclearPlantMember_2E72A038CF26AFE3264BA7972DB09E41" xlink:type="arc"/>

<link:label id="lab_pnw_OtherGenerationMember_8B06B6B09D02E152C359A7972DB07E1A_terseLabel_en-US" xlink:label="lab_pnw_OtherGenerationMember_8B06B6B09D02E152C359A7972DB07E1A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other generation </link:label>

<link:label id="lab_pnw_OtherGenerationMember_8B06B6B09D02E152C359A7972DB07E1A_label_en-US" xlink:label="lab_pnw_OtherGenerationMember_8B06B6B09D02E152C359A7972DB07E1A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other generation [Member] </link:label>

<link:label id="lab_pnw_OtherGenerationMember_8B06B6B09D02E152C359A7972DB07E1A_documentation_en-US" xlink:label="lab_pnw_OtherGenerationMember_8B06B6B09D02E152C359A7972DB07E1A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Plant used in connection with other generation of energy. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_OtherGenerationMember" xlink:label="loc_pnw_OtherGenerationMember_8B06B6B09D02E152C359A7972DB07E1A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_OtherGenerationMember_8B06B6B09D02E152C359A7972DB07E1A" xlink:to="lab_pnw_OtherGenerationMember_8B06B6B09D02E152C359A7972DB07E1A" xlink:type="arc"/>

<link:label id="lab_pnw_TransmissionMember_EBDB26CCA2F65161FEB7A7972DB01BB8_terseLabel_en-US" xlink:label="lab_pnw_TransmissionMember_EBDB26CCA2F65161FEB7A7972DB01BB8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Transmission </link:label>

<link:label id="lab_pnw_TransmissionMember_EBDB26CCA2F65161FEB7A7972DB01BB8_label_en-US" xlink:label="lab_pnw_TransmissionMember_EBDB26CCA2F65161FEB7A7972DB01BB8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Transmission [Member] </link:label>

<link:label id="lab_pnw_TransmissionMember_EBDB26CCA2F65161FEB7A7972DB01BB8_documentation_en-US" xlink:label="lab_pnw_TransmissionMember_EBDB26CCA2F65161FEB7A7972DB01BB8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Plant used in connection with transmission of energy. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_TransmissionMember" xlink:label="loc_pnw_TransmissionMember_EBDB26CCA2F65161FEB7A7972DB01BB8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_TransmissionMember_EBDB26CCA2F65161FEB7A7972DB01BB8" xlink:to="lab_pnw_TransmissionMember_EBDB26CCA2F65161FEB7A7972DB01BB8" xlink:type="arc"/>

<link:label id="lab_pnw_DistributionMember_36518A151AABFE554573A7972DB067F0_terseLabel_en-US" xlink:label="lab_pnw_DistributionMember_36518A151AABFE554573A7972DB067F0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Distribution </link:label>

<link:label id="lab_pnw_DistributionMember_36518A151AABFE554573A7972DB067F0_label_en-US" xlink:label="lab_pnw_DistributionMember_36518A151AABFE554573A7972DB067F0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Distribution [Member] </link:label>

<link:label id="lab_pnw_DistributionMember_36518A151AABFE554573A7972DB067F0_documentation_en-US" xlink:label="lab_pnw_DistributionMember_36518A151AABFE554573A7972DB067F0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Plant used in connection with distribution of energy. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_DistributionMember" xlink:label="loc_pnw_DistributionMember_36518A151AABFE554573A7972DB067F0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_DistributionMember_36518A151AABFE554573A7972DB067F0" xlink:to="lab_pnw_DistributionMember_36518A151AABFE554573A7972DB067F0" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherPlantInServiceMember_10136D2B1C13E1FE79F4A7972DB07D4F_terseLabel_en-US" xlink:label="lab_us-gaap_OtherPlantInServiceMember_10136D2B1C13E1FE79F4A7972DB07D4F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_OtherPlantInServiceMember_10136D2B1C13E1FE79F4A7972DB07D4F_label_en-US" xlink:label="lab_us-gaap_OtherPlantInServiceMember_10136D2B1C13E1FE79F4A7972DB07D4F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Plant in Service [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherPlantInServiceMember" xlink:label="loc_us-gaap_OtherPlantInServiceMember_10136D2B1C13E1FE79F4A7972DB07D4F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherPlantInServiceMember_10136D2B1C13E1FE79F4A7972DB07D4F" xlink:to="lab_us-gaap_OtherPlantInServiceMember_10136D2B1C13E1FE79F4A7972DB07D4F" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAbstract_7824575087EAEBEF0716A7972DB1F590_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAbstract_7824575087EAEBEF0716A7972DB1F590" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Approximate remaining average useful lives of utility property </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAbstract_7824575087EAEBEF0716A7972DB1F590_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAbstract_7824575087EAEBEF0716A7972DB1F590" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Property, Plant and Equipment [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAbstract" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAbstract_7824575087EAEBEF0716A7972DB1F590" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAbstract_7824575087EAEBEF0716A7972DB1F590" xlink:to="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentAbstract_7824575087EAEBEF0716A7972DB1F590" xlink:type="arc"/>

<link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_A83C7438197287DFDA85A7972DB17367_verboseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_A83C7438197287DFDA85A7972DB17367" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Average useful life </link:label>

<link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_A83C7438197287DFDA85A7972DB17367_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_A83C7438197287DFDA85A7972DB17367" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Useful Life </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife_A83C7438197287DFDA85A7972DB17367" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife_A83C7438197287DFDA85A7972DB17367" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_A83C7438197287DFDA85A7972DB17367" xlink:type="arc"/>

<link:label id="lab_us-gaap_CostOfServicesDepreciation_1620BDF0297FD7A37146A80BB0BA1589_terseLabel_en-US" xlink:label="lab_us-gaap_CostOfServicesDepreciation_1620BDF0297FD7A37146A80BB0BA1589" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cost of services, depreciation </link:label>

<link:label id="lab_us-gaap_CostOfServicesDepreciation_1620BDF0297FD7A37146A80BB0BA1589_label_en-US" xlink:label="lab_us-gaap_CostOfServicesDepreciation_1620BDF0297FD7A37146A80BB0BA1589" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cost of Services, Depreciation </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostOfServicesDepreciation" xlink:label="loc_us-gaap_CostOfServicesDepreciation_1620BDF0297FD7A37146A80BB0BA1589" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CostOfServicesDepreciation_1620BDF0297FD7A37146A80BB0BA1589" xlink:to="lab_us-gaap_CostOfServicesDepreciation_1620BDF0297FD7A37146A80BB0BA1589" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService_5B62C2B22D255EE7B9F7A7972DB178C2_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService_5B62C2B22D255EE7B9F7A7972DB178C2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Depreciation rates (as a percent) </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService_5B62C2B22D255EE7B9F7A7972DB178C2_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService_5B62C2B22D255EE7B9F7A7972DB178C2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Property, Plant and Equipment, Disclosure of Composite Depreciation Rate for Plants in Service </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService" xlink:label="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService_5B62C2B22D255EE7B9F7A7972DB178C2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService_5B62C2B22D255EE7B9F7A7972DB178C2" xlink:to="lab_us-gaap_PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService_5B62C2B22D255EE7B9F7A7972DB178C2" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionNetIncreaseAbstract_9F64404DEAE9A9D64B21A7972DB12E00_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionNetIncreaseAbstract_9F64404DEAE9A9D64B21A7972DB12E00" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Allowance for Funds Used During Construction </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionNetIncreaseAbstract_9F64404DEAE9A9D64B21A7972DB12E00_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionNetIncreaseAbstract_9F64404DEAE9A9D64B21A7972DB12E00" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Allowance for Funds Used During Construction, Net Increase [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionNetIncreaseAbstract" xlink:label="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionNetIncreaseAbstract_9F64404DEAE9A9D64B21A7972DB12E00" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionNetIncreaseAbstract_9F64404DEAE9A9D64B21A7972DB12E00" xlink:to="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionNetIncreaseAbstract_9F64404DEAE9A9D64B21A7972DB12E00" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionRate_C425FA2E260C25A31F14A7972DB183AF_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionRate_C425FA2E260C25A31F14A7972DB183AF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Composite rate used to calculate AFUDC (as a percent) </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionRate_C425FA2E260C25A31F14A7972DB183AF_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionRate_C425FA2E260C25A31F14A7972DB183AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Allowance for Funds Used During Construction, Rate </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionRate" xlink:label="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionRate_C425FA2E260C25A31F14A7972DB183AF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionRate_C425FA2E260C25A31F14A7972DB183AF" xlink:to="lab_us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionRate_C425FA2E260C25A31F14A7972DB183AF" xlink:type="arc"/>

<link:label id="lab_pnw_NuclearFuelAbstract_41EB407D93BB51F29F40A7972DB16B45_terseLabel_en-US" xlink:label="lab_pnw_NuclearFuelAbstract_41EB407D93BB51F29F40A7972DB16B45" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Nuclear Fuel </link:label>

<link:label id="lab_pnw_NuclearFuelAbstract_41EB407D93BB51F29F40A7972DB16B45_label_en-US" xlink:label="lab_pnw_NuclearFuelAbstract_41EB407D93BB51F29F40A7972DB16B45" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Nuclear Fuel [Abstract] </link:label>

<link:label id="lab_pnw_NuclearFuelAbstract_41EB407D93BB51F29F40A7972DB16B45_documentation_en-US" xlink:label="lab_pnw_NuclearFuelAbstract_41EB407D93BB51F29F40A7972DB16B45" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_NuclearFuelAbstract" xlink:label="loc_pnw_NuclearFuelAbstract_41EB407D93BB51F29F40A7972DB16B45" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_NuclearFuelAbstract_41EB407D93BB51F29F40A7972DB16B45" xlink:to="lab_pnw_NuclearFuelAbstract_41EB407D93BB51F29F40A7972DB16B45" xlink:type="arc"/>

<link:label id="lab_pnw_PublicUtilitiesDisposalOfSpentNuclearFuelRate_FA788BF2092793A7331CA7972DB130EA_terseLabel_en-US" xlink:label="lab_pnw_PublicUtilitiesDisposalOfSpentNuclearFuelRate_FA788BF2092793A7331CA7972DB130EA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Charges for the permanent disposal of spent nuclear fuel (in dollars per kWh) </link:label>

<link:label id="lab_pnw_PublicUtilitiesDisposalOfSpentNuclearFuelRate_FA788BF2092793A7331CA7972DB130EA_label_en-US" xlink:label="lab_pnw_PublicUtilitiesDisposalOfSpentNuclearFuelRate_FA788BF2092793A7331CA7972DB130EA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities Disposal of Spent Nuclear Fuel Rate </link:label>

<link:label id="lab_pnw_PublicUtilitiesDisposalOfSpentNuclearFuelRate_FA788BF2092793A7331CA7972DB130EA_documentation_en-US" xlink:label="lab_pnw_PublicUtilitiesDisposalOfSpentNuclearFuelRate_FA788BF2092793A7331CA7972DB130EA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the rate charged for the permanent disposal of spent nuclear fuel. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PublicUtilitiesDisposalOfSpentNuclearFuelRate" xlink:label="loc_pnw_PublicUtilitiesDisposalOfSpentNuclearFuelRate_FA788BF2092793A7331CA7972DB130EA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PublicUtilitiesDisposalOfSpentNuclearFuelRate_FA788BF2092793A7331CA7972DB130EA" xlink:to="lab_pnw_PublicUtilitiesDisposalOfSpentNuclearFuelRate_FA788BF2092793A7331CA7972DB130EA" xlink:type="arc"/>

<link:label id="lab_pnw_IncomeTaxesAbstract_657B4202777A83F1C708A841925D29FF_terseLabel_en-US" xlink:label="lab_pnw_IncomeTaxesAbstract_657B4202777A83F1C708A841925D29FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income Taxes </link:label>

<link:label id="lab_pnw_IncomeTaxesAbstract_657B4202777A83F1C708A841925D29FF_label_en-US" xlink:label="lab_pnw_IncomeTaxesAbstract_657B4202777A83F1C708A841925D29FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Taxes [Abstract] </link:label>

<link:label id="lab_pnw_IncomeTaxesAbstract_657B4202777A83F1C708A841925D29FF_documentation_en-US" xlink:label="lab_pnw_IncomeTaxesAbstract_657B4202777A83F1C708A841925D29FF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_IncomeTaxesAbstract" xlink:label="loc_pnw_IncomeTaxesAbstract_657B4202777A83F1C708A841925D29FF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_IncomeTaxesAbstract_657B4202777A83F1C708A841925D29FF" xlink:to="lab_pnw_IncomeTaxesAbstract_657B4202777A83F1C708A841925D29FF" xlink:type="arc"/>

<link:label id="lab_pnw_IncomeTaxPercentageLikelihoodLargestTaxBenefitAmountisRealized_3128BAFCBE86C5246082A83F3D93B7CD_terseLabel_en-US" xlink:label="lab_pnw_IncomeTaxPercentageLikelihoodLargestTaxBenefitAmountisRealized_3128BAFCBE86C5246082A83F3D93B7CD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percent likelihood largest tax benefit amount is realized (greater than) </link:label>

<link:label id="lab_pnw_IncomeTaxPercentageLikelihoodLargestTaxBenefitAmountisRealized_3128BAFCBE86C5246082A83F3D93B7CD_label_en-US" xlink:label="lab_pnw_IncomeTaxPercentageLikelihoodLargestTaxBenefitAmountisRealized_3128BAFCBE86C5246082A83F3D93B7CD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax, Percentage Likelihood Largest Tax Benefit Amount is Realized </link:label>

<link:label id="lab_pnw_IncomeTaxPercentageLikelihoodLargestTaxBenefitAmountisRealized_3128BAFCBE86C5246082A83F3D93B7CD_documentation_en-US" xlink:label="lab_pnw_IncomeTaxPercentageLikelihoodLargestTaxBenefitAmountisRealized_3128BAFCBE86C5246082A83F3D93B7CD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Income Tax, Percentage Likelihood Largest Tax Benefit Amount is Realized </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_IncomeTaxPercentageLikelihoodLargestTaxBenefitAmountisRealized" xlink:label="loc_pnw_IncomeTaxPercentageLikelihoodLargestTaxBenefitAmountisRealized_3128BAFCBE86C5246082A83F3D93B7CD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_IncomeTaxPercentageLikelihoodLargestTaxBenefitAmountisRealized_3128BAFCBE86C5246082A83F3D93B7CD" xlink:to="lab_pnw_IncomeTaxPercentageLikelihoodLargestTaxBenefitAmountisRealized_3128BAFCBE86C5246082A83F3D93B7CD" xlink:type="arc"/>

<link:label id="lab_pnw_FiniteLivedIntangibleAssetAbstract_39E0FEBDFA9079B3B461A7972DB1CBC3_terseLabel_en-US" xlink:label="lab_pnw_FiniteLivedIntangibleAssetAbstract_39E0FEBDFA9079B3B461A7972DB1CBC3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Intangible Assets </link:label>

<link:label id="lab_pnw_FiniteLivedIntangibleAssetAbstract_39E0FEBDFA9079B3B461A7972DB1CBC3_label_en-US" xlink:label="lab_pnw_FiniteLivedIntangibleAssetAbstract_39E0FEBDFA9079B3B461A7972DB1CBC3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Finite Lived Intangible Asset [Abstract] </link:label>

<link:label id="lab_pnw_FiniteLivedIntangibleAssetAbstract_39E0FEBDFA9079B3B461A7972DB1CBC3_documentation_en-US" xlink:label="lab_pnw_FiniteLivedIntangibleAssetAbstract_39E0FEBDFA9079B3B461A7972DB1CBC3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FiniteLivedIntangibleAssetAbstract" xlink:label="loc_pnw_FiniteLivedIntangibleAssetAbstract_39E0FEBDFA9079B3B461A7972DB1CBC3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FiniteLivedIntangibleAssetAbstract_39E0FEBDFA9079B3B461A7972DB1CBC3" xlink:to="lab_pnw_FiniteLivedIntangibleAssetAbstract_39E0FEBDFA9079B3B461A7972DB1CBC3" xlink:type="arc"/>

<link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_F08F2FD9E59E08E5A7EAA7972DB11474_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets_F08F2FD9E59E08E5A7EAA7972DB11474" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amortization expense </link:label>

<link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_F08F2FD9E59E08E5A7EAA7972DB11474_label_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets_F08F2FD9E59E08E5A7EAA7972DB11474" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Amortization of Intangible Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets_F08F2FD9E59E08E5A7EAA7972DB11474" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfIntangibleAssets_F08F2FD9E59E08E5A7EAA7972DB11474" xlink:to="lab_us-gaap_AmortizationOfIntangibleAssets_F08F2FD9E59E08E5A7EAA7972DB11474" xlink:type="arc"/>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_1C9A2A656E9DAABE07D8A7972DB1B024_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_1C9A2A656E9DAABE07D8A7972DB1B024" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Estimated amortization expense on existing intangible assets over the next five years </link:label>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_1C9A2A656E9DAABE07D8A7972DB1B024_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_1C9A2A656E9DAABE07D8A7972DB1B024" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_1C9A2A656E9DAABE07D8A7972DB1B024" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_1C9A2A656E9DAABE07D8A7972DB1B024" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_1C9A2A656E9DAABE07D8A7972DB1B024" xlink:type="arc"/>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_F50581DB55893B07DB48A7972DB15CA6_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_F50581DB55893B07DB48A7972DB15CA6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2016 </link:label>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_F50581DB55893B07DB48A7972DB15CA6_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_F50581DB55893B07DB48A7972DB15CA6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_F50581DB55893B07DB48A7972DB15CA6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_F50581DB55893B07DB48A7972DB15CA6" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_F50581DB55893B07DB48A7972DB15CA6" xlink:type="arc"/>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_E85CC449ACF7E005D96EA7972DB1124E_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_E85CC449ACF7E005D96EA7972DB1124E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2017 </link:label>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_E85CC449ACF7E005D96EA7972DB1124E_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_E85CC449ACF7E005D96EA7972DB1124E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Finite-Lived Intangible Assets, Amortization Expense, Year Two </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_E85CC449ACF7E005D96EA7972DB1124E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_E85CC449ACF7E005D96EA7972DB1124E" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_E85CC449ACF7E005D96EA7972DB1124E" xlink:type="arc"/>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_4F4E3E4233198738DA89A7972DB2B069_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_4F4E3E4233198738DA89A7972DB2B069" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2018 </link:label>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_4F4E3E4233198738DA89A7972DB2B069_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_4F4E3E4233198738DA89A7972DB2B069" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Finite-Lived Intangible Assets, Amortization Expense, Year Three </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_4F4E3E4233198738DA89A7972DB2B069" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_4F4E3E4233198738DA89A7972DB2B069" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_4F4E3E4233198738DA89A7972DB2B069" xlink:type="arc"/>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_1932398B53BF943864B8A7972DB205B2_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_1932398B53BF943864B8A7972DB205B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2019 </link:label>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_1932398B53BF943864B8A7972DB205B2_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_1932398B53BF943864B8A7972DB205B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Finite-Lived Intangible Assets, Amortization Expense, Year Four </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_1932398B53BF943864B8A7972DB205B2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_1932398B53BF943864B8A7972DB205B2" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_1932398B53BF943864B8A7972DB205B2" xlink:type="arc"/>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_53AB45F78955E35549ACA7972DB2D96D_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_53AB45F78955E35549ACA7972DB2D96D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2020 </link:label>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_53AB45F78955E35549ACA7972DB2D96D_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_53AB45F78955E35549ACA7972DB2D96D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Finite-Lived Intangible Assets, Amortization Expense, Year Five </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_53AB45F78955E35549ACA7972DB2D96D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_53AB45F78955E35549ACA7972DB2D96D" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_53AB45F78955E35549ACA7972DB2D96D" xlink:type="arc"/>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetUsefulLife_A0AB2B912166FCB674ACA7972DB20F6C_verboseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetUsefulLife_A0AB2B912166FCB674ACA7972DB20F6C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Weighted average remaining amortization period for intangible assets </link:label>

<link:label id="lab_us-gaap_FiniteLivedIntangibleAssetUsefulLife_A0AB2B912166FCB674ACA7972DB20F6C_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetUsefulLife_A0AB2B912166FCB674ACA7972DB20F6C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Finite-Lived Intangible Asset, Useful Life </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetUsefulLife" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetUsefulLife_A0AB2B912166FCB674ACA7972DB20F6C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetUsefulLife_A0AB2B912166FCB674ACA7972DB20F6C" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetUsefulLife_A0AB2B912166FCB674ACA7972DB20F6C" xlink:type="arc"/>

<link:label id="lab_us-gaap_InvestmentsAbstract_9B34F7A9F447775F5C0EA7972DB21B3A_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsAbstract_9B34F7A9F447775F5C0EA7972DB21B3A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investments </link:label>

<link:label id="lab_us-gaap_InvestmentsAbstract_9B34F7A9F447775F5C0EA7972DB21B3A_label_en-US" xlink:label="lab_us-gaap_InvestmentsAbstract_9B34F7A9F447775F5C0EA7972DB21B3A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investments [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentsAbstract" xlink:label="loc_us-gaap_InvestmentsAbstract_9B34F7A9F447775F5C0EA7972DB21B3A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsAbstract_9B34F7A9F447775F5C0EA7972DB21B3A" xlink:to="lab_us-gaap_InvestmentsAbstract_9B34F7A9F447775F5C0EA7972DB21B3A" xlink:type="arc"/>

<link:label id="lab_pnw_OwnershipPercentageForClassificationAsCostMethodInvestments_D88ED12DB7782B5A52BAA7972DB24875_terseLabel_en-US" xlink:label="lab_pnw_OwnershipPercentageForClassificationAsCostMethodInvestments_D88ED12DB7782B5A52BAA7972DB24875" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Ownership percentage for classification as cost method investments by El Dorado </link:label>

<link:label id="lab_pnw_OwnershipPercentageForClassificationAsCostMethodInvestments_D88ED12DB7782B5A52BAA7972DB24875_label_en-US" xlink:label="lab_pnw_OwnershipPercentageForClassificationAsCostMethodInvestments_D88ED12DB7782B5A52BAA7972DB24875" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Ownership Percentage for Classification as Cost Method Investments </link:label>

<link:label id="lab_pnw_OwnershipPercentageForClassificationAsCostMethodInvestments_D88ED12DB7782B5A52BAA7972DB24875_documentation_en-US" xlink:label="lab_pnw_OwnershipPercentageForClassificationAsCostMethodInvestments_D88ED12DB7782B5A52BAA7972DB24875" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the maximum ownership percentage for the classification of investments as cost method investments. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_OwnershipPercentageForClassificationAsCostMethodInvestments" xlink:label="loc_pnw_OwnershipPercentageForClassificationAsCostMethodInvestments_D88ED12DB7782B5A52BAA7972DB24875" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_OwnershipPercentageForClassificationAsCostMethodInvestments_D88ED12DB7782B5A52BAA7972DB24875" xlink:to="lab_pnw_OwnershipPercentageForClassificationAsCostMethodInvestments_D88ED12DB7782B5A52BAA7972DB24875" xlink:type="arc"/>

<link:label id="lab_us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract_F08FA45E2A068F3C429AA7972DB22E90_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract_F08FA45E2A068F3C429AA7972DB22E90" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Preferred Stock </link:label>

<link:label id="lab_us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract_F08FA45E2A068F3C429AA7972DB22E90_label_en-US" xlink:label="lab_us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract_F08FA45E2A068F3C429AA7972DB22E90" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xlink:label="loc_us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract_F08FA45E2A068F3C429AA7972DB22E90" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract_F08FA45E2A068F3C429AA7972DB22E90" xlink:to="lab_us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract_F08FA45E2A068F3C429AA7972DB22E90" xlink:type="arc"/>

<link:label id="lab_us-gaap_PreferredStockSharesAuthorized_4F373657715A2D8B49E1A7972DB2B6EC_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized_4F373657715A2D8B49E1A7972DB2B6EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Preferred stock, shares authorized (in shares) </link:label>

<link:label id="lab_us-gaap_PreferredStockSharesAuthorized_4F373657715A2D8B49E1A7972DB2B6EC_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized_4F373657715A2D8B49E1A7972DB2B6EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Preferred Stock, Shares Authorized </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="loc_us-gaap_PreferredStockSharesAuthorized_4F373657715A2D8B49E1A7972DB2B6EC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesAuthorized_4F373657715A2D8B49E1A7972DB2B6EC" xlink:to="lab_us-gaap_PreferredStockSharesAuthorized_4F373657715A2D8B49E1A7972DB2B6EC" xlink:type="arc"/>

<link:label id="lab_pnw_PreferredStockParOrStatedValuePerShare1_9DB6876528A5ED0C5962A7972DB2654F_terseLabel_en-US" xlink:label="lab_pnw_PreferredStockParOrStatedValuePerShare1_9DB6876528A5ED0C5962A7972DB2654F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Preferred stock par or stated value per share 1 (in dollars per share) </link:label>

<link:label id="lab_pnw_PreferredStockParOrStatedValuePerShare1_9DB6876528A5ED0C5962A7972DB2654F_label_en-US" xlink:label="lab_pnw_PreferredStockParOrStatedValuePerShare1_9DB6876528A5ED0C5962A7972DB2654F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Preferred Stock Par or Stated Value Per Share 1 </link:label>

<link:label id="lab_pnw_PreferredStockParOrStatedValuePerShare1_9DB6876528A5ED0C5962A7972DB2654F_documentation_en-US" xlink:label="lab_pnw_PreferredStockParOrStatedValuePerShare1_9DB6876528A5ED0C5962A7972DB2654F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Face amount or stated value per share of nonredeemable preferred stock type 1 (or preferred stock redeemable type 1 solely at the option of the issuer); generally not indicative of the fair market value per share. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PreferredStockParOrStatedValuePerShare1" xlink:label="loc_pnw_PreferredStockParOrStatedValuePerShare1_9DB6876528A5ED0C5962A7972DB2654F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PreferredStockParOrStatedValuePerShare1_9DB6876528A5ED0C5962A7972DB2654F" xlink:to="lab_pnw_PreferredStockParOrStatedValuePerShare1_9DB6876528A5ED0C5962A7972DB2654F" xlink:type="arc"/>

<link:label id="lab_pnw_PreferredStockParOrStatedValuePerShare2_FACCF24184FA751777E1A7972DB28F2C_terseLabel_en-US" xlink:label="lab_pnw_PreferredStockParOrStatedValuePerShare2_FACCF24184FA751777E1A7972DB28F2C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Preferred stock par or stated value per share 2 (in dollars per share) </link:label>

<link:label id="lab_pnw_PreferredStockParOrStatedValuePerShare2_FACCF24184FA751777E1A7972DB28F2C_label_en-US" xlink:label="lab_pnw_PreferredStockParOrStatedValuePerShare2_FACCF24184FA751777E1A7972DB28F2C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Preferred Stock Par Or Stated Value Per Share 2 </link:label>

<link:label id="lab_pnw_PreferredStockParOrStatedValuePerShare2_FACCF24184FA751777E1A7972DB28F2C_documentation_en-US" xlink:label="lab_pnw_PreferredStockParOrStatedValuePerShare2_FACCF24184FA751777E1A7972DB28F2C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Face amount or stated value per share of nonredeemable preferred stock type 2 (or preferred stock redeemable type 2 solely at the option of the issuer); generally not indicative of the fair market value per share. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PreferredStockParOrStatedValuePerShare2" xlink:label="loc_pnw_PreferredStockParOrStatedValuePerShare2_FACCF24184FA751777E1A7972DB28F2C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PreferredStockParOrStatedValuePerShare2_FACCF24184FA751777E1A7972DB28F2C" xlink:to="lab_pnw_PreferredStockParOrStatedValuePerShare2_FACCF24184FA751777E1A7972DB28F2C" xlink:type="arc"/>

<link:label id="lab_pnw_PreferredStockParOrStatedValuePerShare3_509E6CDCBB54EF08E815A7972DB2DA62_terseLabel_en-US" xlink:label="lab_pnw_PreferredStockParOrStatedValuePerShare3_509E6CDCBB54EF08E815A7972DB2DA62" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Preferred stock par or stated value per share 3 (in dollars per share) </link:label>

<link:label id="lab_pnw_PreferredStockParOrStatedValuePerShare3_509E6CDCBB54EF08E815A7972DB2DA62_label_en-US" xlink:label="lab_pnw_PreferredStockParOrStatedValuePerShare3_509E6CDCBB54EF08E815A7972DB2DA62" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Preferred Stock Par Or Stated Value Per Share 3 </link:label>

<link:label id="lab_pnw_PreferredStockParOrStatedValuePerShare3_509E6CDCBB54EF08E815A7972DB2DA62_documentation_en-US" xlink:label="lab_pnw_PreferredStockParOrStatedValuePerShare3_509E6CDCBB54EF08E815A7972DB2DA62" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Face amount or stated value per share of nonredeemable preferred stock type 3 (or preferred stock redeemable type 3 solely at the option of the issuer); generally not indicative of the fair market value per share. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PreferredStockParOrStatedValuePerShare3" xlink:label="loc_pnw_PreferredStockParOrStatedValuePerShare3_509E6CDCBB54EF08E815A7972DB2DA62" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PreferredStockParOrStatedValuePerShare3_509E6CDCBB54EF08E815A7972DB2DA62" xlink:to="lab_pnw_PreferredStockParOrStatedValuePerShare3_509E6CDCBB54EF08E815A7972DB2DA62" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_15A1454D605DDD2E1357B19A20D8E2AE_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_15A1454D605DDD2E1357B19A20D8E2AE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair value of assets and liabilities that are measured at fair value on a recurring basis </link:label>

<link:label id="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_15A1454D605DDD2E1357B19A20D8E2AE_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_15A1454D605DDD2E1357B19A20D8E2AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_15A1454D605DDD2E1357B19A20D8E2AE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_15A1454D605DDD2E1357B19A20D8E2AE" xlink:to="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_15A1454D605DDD2E1357B19A20D8E2AE" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueInputsAssetsQuantitativeInformationTableTextBlock_9D65A0380E9F119B1C47B19A20D8A93D_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsAssetsQuantitativeInformationTableTextBlock_9D65A0380E9F119B1C47B19A20D8A93D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Information regarding the entity's internally developed significant unobservable inputs used to value its level 3 instruments </link:label>

<link:label id="lab_us-gaap_FairValueInputsAssetsQuantitativeInformationTableTextBlock_9D65A0380E9F119B1C47B19A20D8A93D_label_en-US" xlink:label="lab_us-gaap_FairValueInputsAssetsQuantitativeInformationTableTextBlock_9D65A0380E9F119B1C47B19A20D8A93D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Assets, Quantitative Information [Table Text Block] </link:label>

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<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsAssetsQuantitativeInformationTableTextBlock_9D65A0380E9F119B1C47B19A20D8A93D" xlink:to="lab_us-gaap_FairValueInputsAssetsQuantitativeInformationTableTextBlock_9D65A0380E9F119B1C47B19A20D8A93D" xlink:type="arc"/>

<link:label id="lab_pnw_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_10BA84BB26C7BD3607CAB1D1B555A099_terseLabel_en-US" xlink:label="lab_pnw_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_10BA84BB26C7BD3607CAB1D1B555A099" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Changes in fair value for assets and liabilities that are measured at fair value on a recurring basis using Level 3 inputs </link:label>

<link:label id="lab_pnw_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_10BA84BB26C7BD3607CAB1D1B555A099_label_en-US" xlink:label="lab_pnw_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_10BA84BB26C7BD3607CAB1D1B555A099" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Table Text Block] </link:label>

<link:label id="lab_pnw_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_10BA84BB26C7BD3607CAB1D1B555A099_documentation_en-US" xlink:label="lab_pnw_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_10BA84BB26C7BD3607CAB1D1B555A099" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Tabular disclosure of the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock" xlink:label="loc_pnw_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_10BA84BB26C7BD3607CAB1D1B555A099" xlink:type="locator"/>

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<link:label id="lab_pnw_BreachofContractforDisposalofSpentNuclearFuelandorHighLevelRadioactiveWasteMember_987DFDFE60978549069EE6250C1D3769_terseLabel_en-US" xlink:label="lab_pnw_BreachofContractforDisposalofSpentNuclearFuelandorHighLevelRadioactiveWasteMember_987DFDFE60978549069EE6250C1D3769" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Breach of Contract for Disposal of Spent Nuclear Fuel and/or High Level Radioactive Waste </link:label>

<link:label id="lab_pnw_BreachofContractforDisposalofSpentNuclearFuelandorHighLevelRadioactiveWasteMember_987DFDFE60978549069EE6250C1D3769_label_en-US" xlink:label="lab_pnw_BreachofContractforDisposalofSpentNuclearFuelandorHighLevelRadioactiveWasteMember_987DFDFE60978549069EE6250C1D3769" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Breach of Contract for Disposal of Spent Nuclear Fuel and/or High Level Radioactive Waste [Member] </link:label>

<link:label id="lab_pnw_BreachofContractforDisposalofSpentNuclearFuelandorHighLevelRadioactiveWasteMember_987DFDFE60978549069EE6250C1D3769_documentation_en-US" xlink:label="lab_pnw_BreachofContractforDisposalofSpentNuclearFuelandorHighLevelRadioactiveWasteMember_987DFDFE60978549069EE6250C1D3769" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Breach of Contract for Disposal of Spent Nuclear Fuel and/or High Level Radioactive Waste [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_BreachofContractforDisposalofSpentNuclearFuelandorHighLevelRadioactiveWasteMember" xlink:label="loc_pnw_BreachofContractforDisposalofSpentNuclearFuelandorHighLevelRadioactiveWasteMember_987DFDFE60978549069EE6250C1D3769" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_BreachofContractforDisposalofSpentNuclearFuelandorHighLevelRadioactiveWasteMember_987DFDFE60978549069EE6250C1D3769" xlink:to="lab_pnw_BreachofContractforDisposalofSpentNuclearFuelandorHighLevelRadioactiveWasteMember_987DFDFE60978549069EE6250C1D3769" xlink:type="arc"/>

<link:label id="lab_pnw_ArizonaPublicServiceCompanyandPaloVerdeOwnersvs.UnitedStatesDepartmentofEnergySpentNuclearFuelandWasteDisposalMember_C9489D0D5240DA96F172E6250C1DEE1F_terseLabel_en-US" xlink:label="lab_pnw_ArizonaPublicServiceCompanyandPaloVerdeOwnersvs.UnitedStatesDepartmentofEnergySpentNuclearFuelandWasteDisposalMember_C9489D0D5240DA96F172E6250C1DEE1F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Arizona Public Service Company and Palo Verde Owners vs. United States Department of Energy - Spent Nuclear Fuel and Waste Disposal [Member] </link:label>

<link:label id="lab_pnw_ArizonaPublicServiceCompanyandPaloVerdeOwnersvs.UnitedStatesDepartmentofEnergySpentNuclearFuelandWasteDisposalMember_C9489D0D5240DA96F172E6250C1DEE1F_label_en-US" xlink:label="lab_pnw_ArizonaPublicServiceCompanyandPaloVerdeOwnersvs.UnitedStatesDepartmentofEnergySpentNuclearFuelandWasteDisposalMember_C9489D0D5240DA96F172E6250C1DEE1F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Arizona Public Service Company and Palo Verde Owners vs. United States Department of Energy - Spent Nuclear Fuel and Waste Disposal [Member] </link:label>

<link:label id="lab_pnw_ArizonaPublicServiceCompanyandPaloVerdeOwnersvs.UnitedStatesDepartmentofEnergySpentNuclearFuelandWasteDisposalMember_C9489D0D5240DA96F172E6250C1DEE1F_documentation_en-US" xlink:label="lab_pnw_ArizonaPublicServiceCompanyandPaloVerdeOwnersvs.UnitedStatesDepartmentofEnergySpentNuclearFuelandWasteDisposalMember_C9489D0D5240DA96F172E6250C1DEE1F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Arizona Public Service Company and Palo Verde Owners vs. United States Department of Energy - Spent Nuclear Fuel and Waste Disposal [Member] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_ArizonaPublicServiceCompanyandPaloVerdeOwnersvs.UnitedStatesDepartmentofEnergySpentNuclearFuelandWasteDisposalMember" xlink:label="loc_pnw_ArizonaPublicServiceCompanyandPaloVerdeOwnersvs.UnitedStatesDepartmentofEnergySpentNuclearFuelandWasteDisposalMember_C9489D0D5240DA96F172E6250C1DEE1F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_ArizonaPublicServiceCompanyandPaloVerdeOwnersvs.UnitedStatesDepartmentofEnergySpentNuclearFuelandWasteDisposalMember_C9489D0D5240DA96F172E6250C1DEE1F" xlink:to="lab_pnw_ArizonaPublicServiceCompanyandPaloVerdeOwnersvs.UnitedStatesDepartmentofEnergySpentNuclearFuelandWasteDisposalMember_C9489D0D5240DA96F172E6250C1DEE1F" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis_0E4E3ED8A274D3BD6A73E6250C1E2286_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis_0E4E3ED8A274D3BD6A73E6250C1E2286" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unrecorded Unconditional Purchase Obligation by Category of Item Purchased [Axis] </link:label>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis_0E4E3ED8A274D3BD6A73E6250C1E2286_label_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis_0E4E3ED8A274D3BD6A73E6250C1E2286" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecorded Unconditional Purchase Obligation by Category of Item Purchased [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis" xlink:label="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis_0E4E3ED8A274D3BD6A73E6250C1E2286" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis_0E4E3ED8A274D3BD6A73E6250C1E2286" xlink:to="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis_0E4E3ED8A274D3BD6A73E6250C1E2286" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnconditionalPurchaseObligationCategoryOfGoodsOrServicesAcquiredDomain_0E70F0BC1F2BA8CA2DABE6250C1E5B18_terseLabel_en-US" xlink:label="lab_us-gaap_UnconditionalPurchaseObligationCategoryOfGoodsOrServicesAcquiredDomain_0E70F0BC1F2BA8CA2DABE6250C1E5B18" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unconditional Purchase Obligation, Category of Goods or Services Acquired [Domain] </link:label>

<link:label id="lab_us-gaap_UnconditionalPurchaseObligationCategoryOfGoodsOrServicesAcquiredDomain_0E70F0BC1F2BA8CA2DABE6250C1E5B18_label_en-US" xlink:label="lab_us-gaap_UnconditionalPurchaseObligationCategoryOfGoodsOrServicesAcquiredDomain_0E70F0BC1F2BA8CA2DABE6250C1E5B18" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unconditional Purchase Obligation, Category of Goods or Services Acquired [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnconditionalPurchaseObligationCategoryOfGoodsOrServicesAcquiredDomain" xlink:label="loc_us-gaap_UnconditionalPurchaseObligationCategoryOfGoodsOrServicesAcquiredDomain_0E70F0BC1F2BA8CA2DABE6250C1E5B18" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnconditionalPurchaseObligationCategoryOfGoodsOrServicesAcquiredDomain_0E70F0BC1F2BA8CA2DABE6250C1E5B18" xlink:to="lab_us-gaap_UnconditionalPurchaseObligationCategoryOfGoodsOrServicesAcquiredDomain_0E70F0BC1F2BA8CA2DABE6250C1E5B18" xlink:type="arc"/>

<link:label id="lab_us-gaap_PublicUtilitiesInventoryFuelMember_BB9104405C46A5F7EE8FE6250C1E35B0_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesInventoryFuelMember_BB9104405C46A5F7EE8FE6250C1E35B0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Coal take-or-pay commitments </link:label>

<link:label id="lab_us-gaap_PublicUtilitiesInventoryFuelMember_BB9104405C46A5F7EE8FE6250C1E35B0_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesInventoryFuelMember_BB9104405C46A5F7EE8FE6250C1E35B0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Public Utilities, Inventory, Fuel [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PublicUtilitiesInventoryFuelMember" xlink:label="loc_us-gaap_PublicUtilitiesInventoryFuelMember_BB9104405C46A5F7EE8FE6250C1E35B0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesInventoryFuelMember_BB9104405C46A5F7EE8FE6250C1E35B0" xlink:to="lab_us-gaap_PublicUtilitiesInventoryFuelMember_BB9104405C46A5F7EE8FE6250C1E35B0" xlink:type="arc"/>

<link:label id="lab_pnw_RenewableEnergyCreditsMember_62225AF2F45BD72CA0B5E6250C1EA2EA_terseLabel_en-US" xlink:label="lab_pnw_RenewableEnergyCreditsMember_62225AF2F45BD72CA0B5E6250C1EA2EA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Renewable energy credits </link:label>

<link:label id="lab_pnw_RenewableEnergyCreditsMember_62225AF2F45BD72CA0B5E6250C1EA2EA_label_en-US" xlink:label="lab_pnw_RenewableEnergyCreditsMember_62225AF2F45BD72CA0B5E6250C1EA2EA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Renewable Energy Credits [Member] </link:label>

<link:label id="lab_pnw_RenewableEnergyCreditsMember_62225AF2F45BD72CA0B5E6250C1EA2EA_documentation_en-US" xlink:label="lab_pnw_RenewableEnergyCreditsMember_62225AF2F45BD72CA0B5E6250C1EA2EA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Renewable Energy Credits or Renewable Energy Certificates ("RECs") are certificates received as proof that one megawatt-hour (MWh) of electricity was generated from a renewable energy resource. RECs can be sold on the open market as a commodity and provide an additional income stream to the energy provider, thus making it a bit more attractive to produce. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RenewableEnergyCreditsMember" xlink:label="loc_pnw_RenewableEnergyCreditsMember_62225AF2F45BD72CA0B5E6250C1EA2EA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RenewableEnergyCreditsMember_62225AF2F45BD72CA0B5E6250C1EA2EA" xlink:to="lab_pnw_RenewableEnergyCreditsMember_62225AF2F45BD72CA0B5E6250C1EA2EA" xlink:type="arc"/>

<link:label id="lab_pnw_CoalMineReclamationObligationsMember_403C34CC09D8F4BFF5C6E6250C1E2B12_terseLabel_en-US" xlink:label="lab_pnw_CoalMineReclamationObligationsMember_403C34CC09D8F4BFF5C6E6250C1E2B12" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Coal Mine Reclamation Obligations </link:label>

<link:label id="lab_pnw_CoalMineReclamationObligationsMember_403C34CC09D8F4BFF5C6E6250C1E2B12_label_en-US" xlink:label="lab_pnw_CoalMineReclamationObligationsMember_403C34CC09D8F4BFF5C6E6250C1E2B12" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Coal Mine Reclamation Obligations [Member] </link:label>

<link:label id="lab_pnw_CoalMineReclamationObligationsMember_403C34CC09D8F4BFF5C6E6250C1E2B12_documentation_en-US" xlink:label="lab_pnw_CoalMineReclamationObligationsMember_403C34CC09D8F4BFF5C6E6250C1E2B12" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the obligations related to reimbursement to certain coal providers for amounts incurred for coal mine reclamation. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_CoalMineReclamationObligationsMember" xlink:label="loc_pnw_CoalMineReclamationObligationsMember_403C34CC09D8F4BFF5C6E6250C1E2B12" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_CoalMineReclamationObligationsMember_403C34CC09D8F4BFF5C6E6250C1E2B12" xlink:to="lab_pnw_CoalMineReclamationObligationsMember_403C34CC09D8F4BFF5C6E6250C1E2B12" xlink:type="arc"/>

<link:label id="lab_pnw_PaloVerdeNuclearGeneratingStationAbstract_46CB940E0CD11C9B0D0DE6250C1F5AAC_terseLabel_en-US" xlink:label="lab_pnw_PaloVerdeNuclearGeneratingStationAbstract_46CB940E0CD11C9B0D0DE6250C1F5AAC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Palo Verde Nuclear Generating Station [Abstract] </link:label>

<link:label id="lab_pnw_PaloVerdeNuclearGeneratingStationAbstract_46CB940E0CD11C9B0D0DE6250C1F5AAC_label_en-US" xlink:label="lab_pnw_PaloVerdeNuclearGeneratingStationAbstract_46CB940E0CD11C9B0D0DE6250C1F5AAC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Palo Verde Nuclear Generating Station [Abstract] </link:label>

<link:label id="lab_pnw_PaloVerdeNuclearGeneratingStationAbstract_46CB940E0CD11C9B0D0DE6250C1F5AAC_documentation_en-US" xlink:label="lab_pnw_PaloVerdeNuclearGeneratingStationAbstract_46CB940E0CD11C9B0D0DE6250C1F5AAC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Palo Verde Nuclear Generating Station [Abstract] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PaloVerdeNuclearGeneratingStationAbstract" xlink:label="loc_pnw_PaloVerdeNuclearGeneratingStationAbstract_46CB940E0CD11C9B0D0DE6250C1F5AAC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PaloVerdeNuclearGeneratingStationAbstract_46CB940E0CD11C9B0D0DE6250C1F5AAC" xlink:to="lab_pnw_PaloVerdeNuclearGeneratingStationAbstract_46CB940E0CD11C9B0D0DE6250C1F5AAC" xlink:type="arc"/>

<link:label id="lab_us-gaap_LitigationSettlementAmount_7AA35ECEE6438C94792BE6250C1FCCAD_terseLabel_en-US" xlink:label="lab_us-gaap_LitigationSettlementAmount_7AA35ECEE6438C94792BE6250C1FCCAD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Litigation settlement, amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LitigationSettlementAmount" xlink:label="loc_us-gaap_LitigationSettlementAmount_7AA35ECEE6438C94792BE6250C1FCCAD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LitigationSettlementAmount_7AA35ECEE6438C94792BE6250C1FCCAD" xlink:to="lab_us-gaap_LitigationSettlementAmount_7AA35ECEE6438C94792BE6250C1FCCAD" xlink:type="arc"/>

<link:label id="lab_us-gaap_ProceedsFromLegalSettlements_B239EE96630B0587E605E6250C1F22A9_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromLegalSettlements_B239EE96630B0587E605E6250C1F22A9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from legal settlements </link:label>

<link:label id="lab_us-gaap_ProceedsFromLegalSettlements_B239EE96630B0587E605E6250C1F22A9_label_en-US" xlink:label="lab_us-gaap_ProceedsFromLegalSettlements_B239EE96630B0587E605E6250C1F22A9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Legal Settlements </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromLegalSettlements" xlink:label="loc_us-gaap_ProceedsFromLegalSettlements_B239EE96630B0587E605E6250C1F22A9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromLegalSettlements_B239EE96630B0587E605E6250C1F22A9" xlink:to="lab_us-gaap_ProceedsFromLegalSettlements_B239EE96630B0587E605E6250C1F22A9" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_7399CA2AFCAFE511F1C1E6250C1FFC90_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_7399CA2AFCAFE511F1C1E6250C1FFC90" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Change in long-term regulatory liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInRegulatoryLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_7399CA2AFCAFE511F1C1E6250C1FFC90" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_7399CA2AFCAFE511F1C1E6250C1FFC90" xlink:to="lab_us-gaap_IncreaseDecreaseInRegulatoryLiabilities_7399CA2AFCAFE511F1C1E6250C1FFC90" xlink:type="arc"/>

<link:label id="lab_pnw_MaximumInsuranceCoveragePerIncident_B21A7FA6B5B553F7F4D2E6250C1FEE36_terseLabel_en-US" xlink:label="lab_pnw_MaximumInsuranceCoveragePerIncident_B21A7FA6B5B553F7F4D2E6250C1FEE36" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maximum insurance against public liability per occurrence for a nuclear incident </link:label>

<link:label id="lab_pnw_MaximumInsuranceCoveragePerIncident_B21A7FA6B5B553F7F4D2E6250C1FEE36_label_en-US" xlink:label="lab_pnw_MaximumInsuranceCoveragePerIncident_B21A7FA6B5B553F7F4D2E6250C1FEE36" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Maximum Insurance Coverage Per Incident </link:label>

<link:label id="lab_pnw_MaximumInsuranceCoveragePerIncident_B21A7FA6B5B553F7F4D2E6250C1FEE36_documentation_en-US" xlink:label="lab_pnw_MaximumInsuranceCoveragePerIncident_B21A7FA6B5B553F7F4D2E6250C1FEE36" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the maximum insurance amount against public liability per occurrence for a nuclear incident. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_MaximumInsuranceCoveragePerIncident" xlink:label="loc_pnw_MaximumInsuranceCoveragePerIncident_B21A7FA6B5B553F7F4D2E6250C1FEE36" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_MaximumInsuranceCoveragePerIncident_B21A7FA6B5B553F7F4D2E6250C1FEE36" xlink:to="lab_pnw_MaximumInsuranceCoveragePerIncident_B21A7FA6B5B553F7F4D2E6250C1FEE36" xlink:type="arc"/>

<link:label id="lab_pnw_MaximumAvailableNuclearLiabilityInsurance_31F7DCCD223C8BBFBAEDE6250C1F0DFC_terseLabel_en-US" xlink:label="lab_pnw_MaximumAvailableNuclearLiabilityInsurance_31F7DCCD223C8BBFBAEDE6250C1F0DFC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maximum available nuclear liability insurance </link:label>

<link:label id="lab_pnw_MaximumAvailableNuclearLiabilityInsurance_31F7DCCD223C8BBFBAEDE6250C1F0DFC_label_en-US" xlink:label="lab_pnw_MaximumAvailableNuclearLiabilityInsurance_31F7DCCD223C8BBFBAEDE6250C1F0DFC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Maximum Available Nuclear Liability Insurance </link:label>

<link:label id="lab_pnw_MaximumAvailableNuclearLiabilityInsurance_31F7DCCD223C8BBFBAEDE6250C1F0DFC_documentation_en-US" xlink:label="lab_pnw_MaximumAvailableNuclearLiabilityInsurance_31F7DCCD223C8BBFBAEDE6250C1F0DFC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the maximum available nuclear liability insurance which is provided by commercial insurance carriers, maintained by Palo Verde as required by the Price Anderson Nuclear Industries Indemnity Act. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_MaximumAvailableNuclearLiabilityInsurance" xlink:label="loc_pnw_MaximumAvailableNuclearLiabilityInsurance_31F7DCCD223C8BBFBAEDE6250C1F0DFC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_MaximumAvailableNuclearLiabilityInsurance_31F7DCCD223C8BBFBAEDE6250C1F0DFC" xlink:to="lab_pnw_MaximumAvailableNuclearLiabilityInsurance_31F7DCCD223C8BBFBAEDE6250C1F0DFC" xlink:type="arc"/>

<link:label id="lab_pnw_RemainingNuclearLiabilityInsuranceThroughMandatoryIndustryWideRetrospectiveAssessmentProgram_086833E82DF60710AABCE6250C1F233C_terseLabel_en-US" xlink:label="lab_pnw_RemainingNuclearLiabilityInsuranceThroughMandatoryIndustryWideRetrospectiveAssessmentProgram_086833E82DF60710AABCE6250C1F233C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Remaining nuclear liability insurance through mandatory industry wide retrospective assessment program </link:label>

<link:label id="lab_pnw_RemainingNuclearLiabilityInsuranceThroughMandatoryIndustryWideRetrospectiveAssessmentProgram_086833E82DF60710AABCE6250C1F233C_label_en-US" xlink:label="lab_pnw_RemainingNuclearLiabilityInsuranceThroughMandatoryIndustryWideRetrospectiveAssessmentProgram_086833E82DF60710AABCE6250C1F233C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Remaining Nuclear Liability Insurance Through Mandatory Industry Wide Retrospective Assessment Program </link:label>

<link:label id="lab_pnw_RemainingNuclearLiabilityInsuranceThroughMandatoryIndustryWideRetrospectiveAssessmentProgram_086833E82DF60710AABCE6250C1F233C_documentation_en-US" xlink:label="lab_pnw_RemainingNuclearLiabilityInsuranceThroughMandatoryIndustryWideRetrospectiveAssessmentProgram_086833E82DF60710AABCE6250C1F233C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the remaining nuclear liability insurance that is provided through mandatory industry wide retrospective assessment program. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_RemainingNuclearLiabilityInsuranceThroughMandatoryIndustryWideRetrospectiveAssessmentProgram" xlink:label="loc_pnw_RemainingNuclearLiabilityInsuranceThroughMandatoryIndustryWideRetrospectiveAssessmentProgram_086833E82DF60710AABCE6250C1F233C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_RemainingNuclearLiabilityInsuranceThroughMandatoryIndustryWideRetrospectiveAssessmentProgram_086833E82DF60710AABCE6250C1F233C" xlink:to="lab_pnw_RemainingNuclearLiabilityInsuranceThroughMandatoryIndustryWideRetrospectiveAssessmentProgram_086833E82DF60710AABCE6250C1F233C" xlink:type="arc"/>

<link:label id="lab_pnw_MaximumAssessmentPerReactorForEachNuclearIncident_6EC44D96920F9612F518E6250C1FEEF6_terseLabel_en-US" xlink:label="lab_pnw_MaximumAssessmentPerReactorForEachNuclearIncident_6EC44D96920F9612F518E6250C1FEEF6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maximum assessment per reactor for each nuclear incident </link:label>

<link:label id="lab_pnw_MaximumAssessmentPerReactorForEachNuclearIncident_6EC44D96920F9612F518E6250C1FEEF6_label_en-US" xlink:label="lab_pnw_MaximumAssessmentPerReactorForEachNuclearIncident_6EC44D96920F9612F518E6250C1FEEF6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Maximum Assessment Per Reactor for Each Nuclear Incident </link:label>

<link:label id="lab_pnw_MaximumAssessmentPerReactorForEachNuclearIncident_6EC44D96920F9612F518E6250C1FEEF6_documentation_en-US" xlink:label="lab_pnw_MaximumAssessmentPerReactorForEachNuclearIncident_6EC44D96920F9612F518E6250C1FEEF6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the maximum assessment per reactor under the program for each nuclear incident. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_MaximumAssessmentPerReactorForEachNuclearIncident" xlink:label="loc_pnw_MaximumAssessmentPerReactorForEachNuclearIncident_6EC44D96920F9612F518E6250C1FEEF6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_MaximumAssessmentPerReactorForEachNuclearIncident_6EC44D96920F9612F518E6250C1FEEF6" xlink:to="lab_pnw_MaximumAssessmentPerReactorForEachNuclearIncident_6EC44D96920F9612F518E6250C1FEEF6" xlink:type="arc"/>

<link:label id="lab_pnw_AnnualLimitPerIncidentWithRespectToMaximumAssessment_C771771CC71689D2DB94E6250C1FAD55_terseLabel_en-US" xlink:label="lab_pnw_AnnualLimitPerIncidentWithRespectToMaximumAssessment_C771771CC71689D2DB94E6250C1FAD55" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Annual limit per incident with respect to maximum assessment </link:label>

<link:label id="lab_pnw_AnnualLimitPerIncidentWithRespectToMaximumAssessment_C771771CC71689D2DB94E6250C1FAD55_label_en-US" xlink:label="lab_pnw_AnnualLimitPerIncidentWithRespectToMaximumAssessment_C771771CC71689D2DB94E6250C1FAD55" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Annual Limit Per Incident with Respect to Maximum Assessment </link:label>

<link:label id="lab_pnw_AnnualLimitPerIncidentWithRespectToMaximumAssessment_C771771CC71689D2DB94E6250C1FAD55_documentation_en-US" xlink:label="lab_pnw_AnnualLimitPerIncidentWithRespectToMaximumAssessment_C771771CC71689D2DB94E6250C1FAD55" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the annual limit per incident with respect to the maximum assessment per reactor under the program for each nuclear incident, to be periodically adjusted for inflation. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AnnualLimitPerIncidentWithRespectToMaximumAssessment" xlink:label="loc_pnw_AnnualLimitPerIncidentWithRespectToMaximumAssessment_C771771CC71689D2DB94E6250C1FAD55" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AnnualLimitPerIncidentWithRespectToMaximumAssessment_C771771CC71689D2DB94E6250C1FAD55" xlink:to="lab_pnw_AnnualLimitPerIncidentWithRespectToMaximumAssessment_C771771CC71689D2DB94E6250C1FAD55" xlink:type="arc"/>

<link:label id="lab_pnw_MaximumPotentialRetrospectiveAssessmentPerIncident_683711749835FBA1F665E6250C1F1A03_terseLabel_en-US" xlink:label="lab_pnw_MaximumPotentialRetrospectiveAssessmentPerIncident_683711749835FBA1F665E6250C1F1A03" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maximum potential retrospective assessment per incident of APS </link:label>

<link:label id="lab_pnw_MaximumPotentialRetrospectiveAssessmentPerIncident_683711749835FBA1F665E6250C1F1A03_label_en-US" xlink:label="lab_pnw_MaximumPotentialRetrospectiveAssessmentPerIncident_683711749835FBA1F665E6250C1F1A03" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Maximum Potential Retrospective Assessment Per Incident </link:label>

<link:label id="lab_pnw_MaximumPotentialRetrospectiveAssessmentPerIncident_683711749835FBA1F665E6250C1F1A03_documentation_en-US" xlink:label="lab_pnw_MaximumPotentialRetrospectiveAssessmentPerIncident_683711749835FBA1F665E6250C1F1A03" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the maximum potential retrospective assessment per incident based on the interest of APS in the three Palo Verde units. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_MaximumPotentialRetrospectiveAssessmentPerIncident" xlink:label="loc_pnw_MaximumPotentialRetrospectiveAssessmentPerIncident_683711749835FBA1F665E6250C1F1A03" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_MaximumPotentialRetrospectiveAssessmentPerIncident_683711749835FBA1F665E6250C1F1A03" xlink:to="lab_pnw_MaximumPotentialRetrospectiveAssessmentPerIncident_683711749835FBA1F665E6250C1F1A03" xlink:type="arc"/>

<link:label id="lab_pnw_AnnualPaymentLimitationWithRespectToMaximumPotentialRetrospectiveAssessment_3A5F62CDF578BC8F49FEE6250C1FC205_terseLabel_en-US" xlink:label="lab_pnw_AnnualPaymentLimitationWithRespectToMaximumPotentialRetrospectiveAssessment_3A5F62CDF578BC8F49FEE6250C1FC205" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Annual payment limitation with respect to maximum potential retrospective assessment </link:label>

<link:label id="lab_pnw_AnnualPaymentLimitationWithRespectToMaximumPotentialRetrospectiveAssessment_3A5F62CDF578BC8F49FEE6250C1FC205_label_en-US" xlink:label="lab_pnw_AnnualPaymentLimitationWithRespectToMaximumPotentialRetrospectiveAssessment_3A5F62CDF578BC8F49FEE6250C1FC205" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Annual Payment Limitation with Respect to Maximum Potential Retrospective Assessment </link:label>

<link:label id="lab_pnw_AnnualPaymentLimitationWithRespectToMaximumPotentialRetrospectiveAssessment_3A5F62CDF578BC8F49FEE6250C1FC205_documentation_en-US" xlink:label="lab_pnw_AnnualPaymentLimitationWithRespectToMaximumPotentialRetrospectiveAssessment_3A5F62CDF578BC8F49FEE6250C1FC205" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the annual payment limitation with respect to maximum potential retrospective assessment. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AnnualPaymentLimitationWithRespectToMaximumPotentialRetrospectiveAssessment" xlink:label="loc_pnw_AnnualPaymentLimitationWithRespectToMaximumPotentialRetrospectiveAssessment_3A5F62CDF578BC8F49FEE6250C1FC205" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AnnualPaymentLimitationWithRespectToMaximumPotentialRetrospectiveAssessment_3A5F62CDF578BC8F49FEE6250C1FC205" xlink:to="lab_pnw_AnnualPaymentLimitationWithRespectToMaximumPotentialRetrospectiveAssessment_3A5F62CDF578BC8F49FEE6250C1FC205" xlink:type="arc"/>

<link:label id="lab_pnw_AllRiskInsuranceForPropertyDamageAndDecontaminationAtPaloVerde_ADD2CA8B66C2F3DE5583E6250C1FAE5D_terseLabel_en-US" xlink:label="lab_pnw_AllRiskInsuranceForPropertyDamageAndDecontaminationAtPaloVerde_ADD2CA8B66C2F3DE5583E6250C1FAE5D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amount of "all risk" (including nuclear hazards) insurance for property damage to, and decontamination of, property at Palo Verde </link:label>

<link:label id="lab_pnw_AllRiskInsuranceForPropertyDamageAndDecontaminationAtPaloVerde_ADD2CA8B66C2F3DE5583E6250C1FAE5D_label_en-US" xlink:label="lab_pnw_AllRiskInsuranceForPropertyDamageAndDecontaminationAtPaloVerde_ADD2CA8B66C2F3DE5583E6250C1FAE5D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> All Risk Insurance for Property Damage and Decontamination at Palo Verde </link:label>

<link:label id="lab_pnw_AllRiskInsuranceForPropertyDamageAndDecontaminationAtPaloVerde_ADD2CA8B66C2F3DE5583E6250C1FAE5D_documentation_en-US" xlink:label="lab_pnw_AllRiskInsuranceForPropertyDamageAndDecontaminationAtPaloVerde_ADD2CA8B66C2F3DE5583E6250C1FAE5D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the "all risk" (including nuclear hazards) insurance for property damage to, and decontamination of, property at Palo Verde of which a substantial portion must first be applied to stabilization and decontamination. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_AllRiskInsuranceForPropertyDamageAndDecontaminationAtPaloVerde" xlink:label="loc_pnw_AllRiskInsuranceForPropertyDamageAndDecontaminationAtPaloVerde_ADD2CA8B66C2F3DE5583E6250C1FAE5D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_AllRiskInsuranceForPropertyDamageAndDecontaminationAtPaloVerde_ADD2CA8B66C2F3DE5583E6250C1FAE5D" xlink:to="lab_pnw_AllRiskInsuranceForPropertyDamageAndDecontaminationAtPaloVerde_ADD2CA8B66C2F3DE5583E6250C1FAE5D" xlink:type="arc"/>

<link:label id="lab_pnw_MaximumAmountthatCouldbeIncurredunderRetrospectiveAssessmentofNEILPolicies_A5065F17FE2E8F2B503AE6250C1FB891_terseLabel_en-US" xlink:label="lab_pnw_MaximumAmountthatCouldbeIncurredunderRetrospectiveAssessmentofNEILPolicies_A5065F17FE2E8F2B503AE6250C1FB891" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maximum amount that APS could incur under the current NEIL policies for each retrospective assessment </link:label>

<link:label id="lab_pnw_MaximumAmountthatCouldbeIncurredunderRetrospectiveAssessmentofNEILPolicies_A5065F17FE2E8F2B503AE6250C1FB891_label_en-US" xlink:label="lab_pnw_MaximumAmountthatCouldbeIncurredunderRetrospectiveAssessmentofNEILPolicies_A5065F17FE2E8F2B503AE6250C1FB891" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Maximum Amount that Could be Incurred under Retrospective Assessment of NEIL Policies </link:label>

<link:label id="lab_pnw_MaximumAmountthatCouldbeIncurredunderRetrospectiveAssessmentofNEILPolicies_A5065F17FE2E8F2B503AE6250C1FB891_documentation_en-US" xlink:label="lab_pnw_MaximumAmountthatCouldbeIncurredunderRetrospectiveAssessmentofNEILPolicies_A5065F17FE2E8F2B503AE6250C1FB891" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Maximum Amount that Could be Incurred under Retrospective Assessment of NEIL Policies </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_MaximumAmountthatCouldbeIncurredunderRetrospectiveAssessmentofNEILPolicies" xlink:label="loc_pnw_MaximumAmountthatCouldbeIncurredunderRetrospectiveAssessmentofNEILPolicies_A5065F17FE2E8F2B503AE6250C1FB891" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_MaximumAmountthatCouldbeIncurredunderRetrospectiveAssessmentofNEILPolicies_A5065F17FE2E8F2B503AE6250C1FB891" xlink:to="lab_pnw_MaximumAmountthatCouldbeIncurredunderRetrospectiveAssessmentofNEILPolicies_A5065F17FE2E8F2B503AE6250C1FB891" xlink:type="arc"/>

<link:label id="lab_pnw_CollateralAssuranceBasedOnRatingTriggers_E0AAA2FC13AC26348F4DE6250C1F546B_terseLabel_en-US" xlink:label="lab_pnw_CollateralAssuranceBasedOnRatingTriggers_E0AAA2FC13AC26348F4DE6250C1F546B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Collateral assurance provided based on rating triggers </link:label>

<link:label id="lab_pnw_CollateralAssuranceBasedOnRatingTriggers_E0AAA2FC13AC26348F4DE6250C1F546B_label_en-US" xlink:label="lab_pnw_CollateralAssuranceBasedOnRatingTriggers_E0AAA2FC13AC26348F4DE6250C1F546B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Collateral Assurance Based on Rating Triggers </link:label>

<link:label id="lab_pnw_CollateralAssuranceBasedOnRatingTriggers_E0AAA2FC13AC26348F4DE6250C1F546B_documentation_en-US" xlink:label="lab_pnw_CollateralAssuranceBasedOnRatingTriggers_E0AAA2FC13AC26348F4DE6250C1F546B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the collateral assurance provided that depends upon rating triggers such as a rating downgrade to non-investment grade under NEIL policies. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_CollateralAssuranceBasedOnRatingTriggers" xlink:label="loc_pnw_CollateralAssuranceBasedOnRatingTriggers_E0AAA2FC13AC26348F4DE6250C1F546B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_CollateralAssuranceBasedOnRatingTriggers_E0AAA2FC13AC26348F4DE6250C1F546B" xlink:to="lab_pnw_CollateralAssuranceBasedOnRatingTriggers_E0AAA2FC13AC26348F4DE6250C1F546B" xlink:type="arc"/>

<link:label id="lab_pnw_PeriodToProvideCollateralAssuranceBasedOnRatingTriggers_992FF571C58679F51EE9E6250C1FCA4F_terseLabel_en-US" xlink:label="lab_pnw_PeriodToProvideCollateralAssuranceBasedOnRatingTriggers_992FF571C58679F51EE9E6250C1FCA4F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Period to provide collateral assurance based on rating triggers </link:label>

<link:label id="lab_pnw_PeriodToProvideCollateralAssuranceBasedOnRatingTriggers_992FF571C58679F51EE9E6250C1FCA4F_label_en-US" xlink:label="lab_pnw_PeriodToProvideCollateralAssuranceBasedOnRatingTriggers_992FF571C58679F51EE9E6250C1FCA4F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Period to Provide Collateral Assurance Based on Rating Triggers </link:label>

<link:label id="lab_pnw_PeriodToProvideCollateralAssuranceBasedOnRatingTriggers_992FF571C58679F51EE9E6250C1FCA4F_documentation_en-US" xlink:label="lab_pnw_PeriodToProvideCollateralAssuranceBasedOnRatingTriggers_992FF571C58679F51EE9E6250C1FCA4F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents the period to provide collateral assurance based on rating triggers such as a rating downgrade to non-investment grade under NEIL policies (in days). </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_PeriodToProvideCollateralAssuranceBasedOnRatingTriggers" xlink:label="loc_pnw_PeriodToProvideCollateralAssuranceBasedOnRatingTriggers_992FF571C58679F51EE9E6250C1FCA4F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_PeriodToProvideCollateralAssuranceBasedOnRatingTriggers_992FF571C58679F51EE9E6250C1FCA4F" xlink:to="lab_pnw_PeriodToProvideCollateralAssuranceBasedOnRatingTriggers_992FF571C58679F51EE9E6250C1FCA4F" xlink:type="arc"/>

<link:label id="lab_pnw_FuelandPurchasedPowerCommitmentsandPurchaseObligationsAbstract_C7D1A3E2BE731CF7584AE6250C1F0ACE_terseLabel_en-US" xlink:label="lab_pnw_FuelandPurchasedPowerCommitmentsandPurchaseObligationsAbstract_C7D1A3E2BE731CF7584AE6250C1F0ACE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fuel and Purchased Power Commitments and Purchase Obligations [Abstract] </link:label>

<link:label id="lab_pnw_FuelandPurchasedPowerCommitmentsandPurchaseObligationsAbstract_C7D1A3E2BE731CF7584AE6250C1F0ACE_label_en-US" xlink:label="lab_pnw_FuelandPurchasedPowerCommitmentsandPurchaseObligationsAbstract_C7D1A3E2BE731CF7584AE6250C1F0ACE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fuel and Purchased Power Commitments and Purchase Obligations [Abstract] </link:label>

<link:label id="lab_pnw_FuelandPurchasedPowerCommitmentsandPurchaseObligationsAbstract_C7D1A3E2BE731CF7584AE6250C1F0ACE_documentation_en-US" xlink:label="lab_pnw_FuelandPurchasedPowerCommitmentsandPurchaseObligationsAbstract_C7D1A3E2BE731CF7584AE6250C1F0ACE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Fuel and Purchased Power Commitments and Purchase Obligations [Abstract] </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_FuelandPurchasedPowerCommitmentsandPurchaseObligationsAbstract" xlink:label="loc_pnw_FuelandPurchasedPowerCommitmentsandPurchaseObligationsAbstract_C7D1A3E2BE731CF7584AE6250C1F0ACE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_FuelandPurchasedPowerCommitmentsandPurchaseObligationsAbstract_C7D1A3E2BE731CF7584AE6250C1F0ACE" xlink:to="lab_pnw_FuelandPurchasedPowerCommitmentsandPurchaseObligationsAbstract_C7D1A3E2BE731CF7584AE6250C1F0ACE" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary_2DDC389ADA8F8C46193AE6250C1FCD28_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary_2DDC389ADA8F8C46193AE6250C1FCD28" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2016 </link:label>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary_2DDC389ADA8F8C46193AE6250C1FCD28_label_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary_2DDC389ADA8F8C46193AE6250C1FCD28" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecorded Unconditional Purchase Obligation, Due in Next Twelve Months </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary" xlink:label="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary_2DDC389ADA8F8C46193AE6250C1FCD28" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary_2DDC389ADA8F8C46193AE6250C1FCD28" xlink:to="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary_2DDC389ADA8F8C46193AE6250C1FCD28" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary_51A81D29E8E98AE570F3E6250C1F7666_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary_51A81D29E8E98AE570F3E6250C1F7666" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2017 </link:label>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary_51A81D29E8E98AE570F3E6250C1F7666_label_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary_51A81D29E8E98AE570F3E6250C1F7666" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecorded Unconditional Purchase Obligation, Due within Two Years </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary" xlink:label="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary_51A81D29E8E98AE570F3E6250C1F7666" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary_51A81D29E8E98AE570F3E6250C1F7666" xlink:to="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary_51A81D29E8E98AE570F3E6250C1F7666" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary_A8201727D078A7091819E6250C1F8837_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary_A8201727D078A7091819E6250C1F8837" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2018 </link:label>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary_A8201727D078A7091819E6250C1F8837_label_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary_A8201727D078A7091819E6250C1F8837" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecorded Unconditional Purchase Obligation, Due within Three Years </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary" xlink:label="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary_A8201727D078A7091819E6250C1F8837" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary_A8201727D078A7091819E6250C1F8837" xlink:to="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary_A8201727D078A7091819E6250C1F8837" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary_7493AAE7619D1DEDC4CBE6250C1F7FD9_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary_7493AAE7619D1DEDC4CBE6250C1F7FD9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2019 </link:label>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary_7493AAE7619D1DEDC4CBE6250C1F7FD9_label_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary_7493AAE7619D1DEDC4CBE6250C1F7FD9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecorded Unconditional Purchase Obligation, Due within Four Years </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary" xlink:label="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary_7493AAE7619D1DEDC4CBE6250C1F7FD9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary_7493AAE7619D1DEDC4CBE6250C1F7FD9" xlink:to="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary_7493AAE7619D1DEDC4CBE6250C1F7FD9" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary_D9D691AB53D03E3235AEE6250C20B281_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary_D9D691AB53D03E3235AEE6250C20B281" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 2020 </link:label>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary_D9D691AB53D03E3235AEE6250C20B281_label_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary_D9D691AB53D03E3235AEE6250C20B281" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecorded Unconditional Purchase Obligation, Due within Five Years </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary" xlink:label="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary_D9D691AB53D03E3235AEE6250C20B281" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary_D9D691AB53D03E3235AEE6250C20B281" xlink:to="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary_D9D691AB53D03E3235AEE6250C20B281" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears_D2DB1B9A6AC6F15186E3E6250C20EB1E_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears_D2DB1B9A6AC6F15186E3E6250C20EB1E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Thereafter </link:label>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears_D2DB1B9A6AC6F15186E3E6250C20EB1E_label_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears_D2DB1B9A6AC6F15186E3E6250C20EB1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecorded Unconditional Purchase Obligation, Due after Five Years </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears" xlink:label="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears_D2DB1B9A6AC6F15186E3E6250C20EB1E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears_D2DB1B9A6AC6F15186E3E6250C20EB1E" xlink:to="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears_D2DB1B9A6AC6F15186E3E6250C20EB1E" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount_2FEBDAE4307444842559E6250C2093EA_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount_2FEBDAE4307444842559E6250C2093EA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total obligation </link:label>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount_2FEBDAE4307444842559E6250C2093EA_label_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount_2FEBDAE4307444842559E6250C2093EA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecorded Unconditional Purchase Obligation </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount" xlink:label="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount_2FEBDAE4307444842559E6250C2093EA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount_2FEBDAE4307444842559E6250C2093EA" xlink:to="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount_2FEBDAE4307444842559E6250C2093EA" xlink:type="arc"/>

<link:label id="lab_pnw_UnrecordedUnconditionalPurchaseObligationPresentValue_3C262CC3AA6C141D77D9E6250C20CF2E_terseLabel_en-US" xlink:label="lab_pnw_UnrecordedUnconditionalPurchaseObligationPresentValue_3C262CC3AA6C141D77D9E6250C20CF2E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Present value of commitments </link:label>

<link:label id="lab_pnw_UnrecordedUnconditionalPurchaseObligationPresentValue_3C262CC3AA6C141D77D9E6250C20CF2E_label_en-US" xlink:label="lab_pnw_UnrecordedUnconditionalPurchaseObligationPresentValue_3C262CC3AA6C141D77D9E6250C20CF2E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecorded Unconditional Purchase Obligation, Present Value </link:label>

<link:label id="lab_pnw_UnrecordedUnconditionalPurchaseObligationPresentValue_3C262CC3AA6C141D77D9E6250C20CF2E_documentation_en-US" xlink:label="lab_pnw_UnrecordedUnconditionalPurchaseObligationPresentValue_3C262CC3AA6C141D77D9E6250C20CF2E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The net present value of an unrecorded unconditional purchase obligation as of the balance sheet date. </link:label>

<link:loc xlink:href="pnw-20151231.xsd#pnw_UnrecordedUnconditionalPurchaseObligationPresentValue" xlink:label="loc_pnw_UnrecordedUnconditionalPurchaseObligationPresentValue_3C262CC3AA6C141D77D9E6250C20CF2E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pnw_UnrecordedUnconditionalPurchaseObligationPresentValue_3C262CC3AA6C141D77D9E6250C20CF2E" xlink:to="lab_pnw_UnrecordedUnconditionalPurchaseObligationPresentValue_3C262CC3AA6C141D77D9E6250C20CF2E" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationPurchases_0CCA822940B415230B1AE6250C209B57_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationPurchases_0CCA822940B415230B1AE6250C209B57" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total purchases </link:label>

<link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationPurchases_0CCA822940B415230B1AE6250C209B57_label_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationPurchases_0CCA822940B415230B1AE6250C209B57" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrecorded Unconditional Purchase Obligation, Purchases </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationPurchases" xlink:label="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationPurchases_0CCA822940B415230B1AE6250C209B57" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationPurchases_0CCA822940B415230B1AE6250C209B57" xlink:to="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationPurchases_0CCA822940B415230B1AE6250C209B57" xlink:type="arc"/>

<link:label id="lab_us-gaap_EarningsPerShareTextBlock_5FA0C08143A3AD6B10B991C027A2B9E9_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock_5FA0C08143A3AD6B10B991C027A2B9E9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Earnings Per Share </link:label>

<link:label id="lab_us-gaap_EarningsPerShareTextBlock_5FA0C08143A3AD6B10B991C027A2B9E9_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock_5FA0C08143A3AD6B10B991C027A2B9E9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Earnings Per Share [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="loc_us-gaap_EarningsPerShareTextBlock_5FA0C08143A3AD6B10B991C027A2B9E9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareTextBlock_5FA0C08143A3AD6B10B991C027A2B9E9" xlink:to="lab_us-gaap_EarningsPerShareTextBlock_5FA0C08143A3AD6B10B991C027A2B9E9" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansDisclosuresTable_447CB26C66579A401AB918EAFDA477BB_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansDisclosuresTable_447CB26C66579A401AB918EAFDA477BB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Table] </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansDisclosuresTable_447CB26C66579A401AB918EAFDA477BB_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansDisclosuresTable_447CB26C66579A401AB918EAFDA477BB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansDisclosuresTable" xlink:label="loc_us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansDisclosuresTable_447CB26C66579A401AB918EAFDA477BB" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansTableTextBlockLineItems_EB8F287A6514A65C8FFB18EAFDA498AB_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansTableTextBlockLineItems_EB8F287A6514A65C8FFB18EAFDA498AB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansTableTextBlockLineItems_EB8F287A6514A65C8FFB18EAFDA498AB_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansTableTextBlockLineItems_EB8F287A6514A65C8FFB18EAFDA498AB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansTableTextBlockLineItems" xlink:label="loc_us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansTableTextBlockLineItems_EB8F287A6514A65C8FFB18EAFDA498AB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansTableTextBlockLineItems_EB8F287A6514A65C8FFB18EAFDA498AB" xlink:to="lab_us-gaap_DefinedBenefitPlansAndOtherPostretirementBenefitPlansTableTextBlockLineItems_EB8F287A6514A65C8FFB18EAFDA498AB" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward_5812AA60F111122BD45418EAFDA52923_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward_5812AA60F111122BD45418EAFDA52923" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in Benefit Obligation </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward_5812AA60F111122BD45418EAFDA52923_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward_5812AA60F111122BD45418EAFDA52923" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward" xlink:label="loc_us-gaap_DefinedBenefitPlanChangeInBenefitObligationRollForward_5812AA60F111122BD45418EAFDA52923" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlanBenefitObligation_937C5436457C5F81F72A18EAFDA563F2_periodStartLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitObligation_937C5436457C5F81F72A18EAFDA563F2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Benefit obligation at the beginning of the period </link:label>

<link:label id="lab_us-gaap_DefinedBenefitPlanBenefitObligation_937C5436457C5F81F72A18EAFDA563F2_label_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitObligation_937C5436457C5F81F72A18EAFDA563F2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan, Benefit Obligation </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanBenefitObligation" xlink:label="loc_us-gaap_DefinedBenefitPlanBenefitObligation_937C5436457C5F81F72A18EAFDA563F2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanBenefitObligation_937C5436457C5F81F72A18EAFDA563F2" xlink:to="lab_us-gaap_DefinedBenefitPlanBenefitObligation_937C5436457C5F81F72A18EAFDA563F2" xlink:type="arc"/>

<link:label id="lab_us-gaap_DefinedBenefitPlanServiceCost_B93BBA1FD54143C7A7AB18EAFDA556A0_verboseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanServiceCost_B93BBA1FD54143C7A7AB18EAFDA556A0" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Service cost </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanServiceCost" xlink:label="loc_us-gaap_DefinedBenefitPlanServiceCost_B93BBA1FD54143C7A7AB18EAFDA556A0" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlanInterestCost_B6620AD9C351D165D22A18EAFDA5E771_verboseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanInterestCost_B6620AD9C351D165D22A18EAFDA5E771" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Interest cost </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedBenefitPlanInterestCost" xlink:label="loc_us-gaap_DefinedBenefitPlanInterestCost_B6620AD9C351D165D22A18EAFDA5E771" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DefinedBenefitPlanBenefitsPaid_3D07AE690351679518DD18EAFDA5B1A4_negatedLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitsPaid_3D07AE690351679518DD18EAFDA5B1A4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Benefit payments </link:label>

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<link:label id="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward_AF4A7E48F78FF4D7B4A018EAFDA54A06_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward_AF4A7E48F78FF4D7B4A018EAFDA54A06" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in Plan Assets </link:label>

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<link:label id="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets_3D7BC1E72BF54A38CA7318EAFDA55E2D_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets_3D7BC1E72BF54A38CA7318EAFDA55E2D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Actual return on plan assets </link:label>

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<link:label id="lab_pnw_DefinedBenefitPlanChangeInFairValueOfPlanAssetsBenefitsPaid_ECF24DF68D7DB79F2C2718EAFDA5D293_label_en-US" xlink:label="lab_pnw_DefinedBenefitPlanChangeInFairValueOfPlanAssetsBenefitsPaid_ECF24DF68D7DB79F2C2718EAFDA5D293" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Defined Benefit Plan Change in Fair Value of Plan Assets, Benefits Paid </link:label>

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<link:label id="lab_us-gaap_DefinedBenefitPlanFundedStatusOfPlan_6F34600B0AD2C5104ACD18EAFDA5D9D2_totalLabel_en-US" xlink:label="lab_us-gaap_DefinedBenefitPlanFundedStatusOfPlan_6F34600B0AD2C5104ACD18EAFDA5D9D2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Funded Status at the end of the period </link:label>

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<link:label id="lab_pnw_DocumentAndEntityInformationAbstract_A2ECA465748482E995C691C025BA7D24_documentation_en-US" xlink:label="lab_pnw_DocumentAndEntityInformationAbstract_A2ECA465748482E995C691C025BA7D24" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"/>

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<link:label id="lab_dei_EntityRegistrantName_8DA59A4B9E3FE92CD37491C025BAE9DD_label_en-US" xlink:label="lab_dei_EntityRegistrantName_8DA59A4B9E3FE92CD37491C025BAE9DD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Entity Registrant Name </link:label>

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<link:label id="lab_dei_EntityWellKnownSeasonedIssuer_64A2B50BE8B7B51D05C291C025BB379F_label_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer_64A2B50BE8B7B51D05C291C025BB379F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Entity Well-known Seasoned Issuer </link:label>

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4 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
 2/27/23  Pinnacle West Capital Corp.       10-K       12/31/22  146:28M
 2/25/22  Pinnacle West Capital Corp.       10-K       12/31/21  150:28M
 2/24/21  Pinnacle West Capital Corp.       10-K       12/31/20  144:26M

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