content: <?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
  <submissionType>144</submissionType>
  <filerInfo>
  <filer>
  <filerCredentials>
  <cik>0001799703</cik>
  <ccc>XXXXXXXX</ccc>
  </filerCredentials>
  </filer>
  <liveTestFlag>LIVE</liveTestFlag>
  </filerInfo>
  </headerData>
  <formData>
  <issuerInfo>
  <issuerCik>0000764622</issuerCik>
  <issuerName>Pinnacle West Capital Corporation</issuerName>
  <secFileNumber>001-08962</secFileNumber>
  <issuerAddress>
  <street1 xmlns="http://www.sec.gov/edgar/common">400 North Fifth Street, P.O. Box 53999</street1>
  <city xmlns="http://www.sec.gov/edgar/common">Phoenix</city>
  <stateOrCountry xmlns="http://www.sec.gov/edgar/common">AZ</stateOrCountry>
  <zipCode xmlns="http://www.sec.gov/edgar/common">85072-3999</zipCode>
  </issuerAddress>
  <issuerContactPhone>(602)-250-1000</issuerContactPhone>
  <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>The Geisler Family Trust/Theodore N. Geisler</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
  <relationshipsToIssuer>
  <relationshipToIssuer>Self</relationshipToIssuer>
  </relationshipsToIssuer>
  </issuerInfo>
  <securitiesInformation>
  <securitiesClassTitle>Common Stock</securitiesClassTitle>
  <brokerOrMarketmakerDetails>
  <name>TD Ameritrade Institutional</name>
  <address>
  <street1 xmlns="http://www.sec.gov/edgar/common">7801 Mesquite Bend Drive</street1>
  <street2 xmlns="http://www.sec.gov/edgar/common">Suite 112</street2>
  <city xmlns="http://www.sec.gov/edgar/common">Irving</city>
  <stateOrCountry xmlns="http://www.sec.gov/edgar/common">TX</stateOrCountry>
  <zipCode xmlns="http://www.sec.gov/edgar/common">75063-6043</zipCode>
  </address>
  </brokerOrMarketmakerDetails>
  <noOfUnitsSold>1491</noOfUnitsSold>
  <aggregateMarketValue>115820.88</aggregateMarketValue>
  <noOfUnitsOutstanding>113312203</noOfUnitsOutstanding>
  <approxSaleDate>08/24/2023</approxSaleDate>
  <securitiesExchangeName>NYSE</securitiesExchangeName>
  </securitiesInformation>
  <securitiesToBeSold>
  <securitiesClassTitle>Common Stock</securitiesClassTitle>
  <acquiredDate>11/09/2020</acquiredDate>
  <natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long Term Incentive Plan</natureOfAcquisitionTransaction>
  <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
  <isGiftTransaction>N</isGiftTransaction>
  <amountOfSecuritiesAcquired>238</amountOfSecuritiesAcquired>
  <paymentDate>11/09/2020</paymentDate>
  <natureOfPayment>N/A</natureOfPayment>
  </securitiesToBeSold>
  <securitiesToBeSold>
  <securitiesClassTitle>Common Stock</securitiesClassTitle>
  <acquiredDate>02/19/2021</acquiredDate>
  <natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long Term Incentive Plan</natureOfAcquisitionTransaction>
  <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
  <isGiftTransaction>N</isGiftTransaction>
  <amountOfSecuritiesAcquired>298</amountOfSecuritiesAcquired>
  <paymentDate>02/19/2021</paymentDate>
  <natureOfPayment>N/A</natureOfPayment>
  </securitiesToBeSold>
  <securitiesToBeSold>
  <securitiesClassTitle>Common Stock</securitiesClassTitle>
  <acquiredDate>02/18/2022</acquiredDate>
  <natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long Term Incentive Plan</natureOfAcquisitionTransaction>
  <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
  <isGiftTransaction>N</isGiftTransaction>
  <amountOfSecuritiesAcquired>948</amountOfSecuritiesAcquired>
  <paymentDate>02/18/2022</paymentDate>
  <natureOfPayment>N/A</natureOfPayment>
  </securitiesToBeSold>
  <securitiesToBeSold>
  <securitiesClassTitle>Common Stock</securitiesClassTitle>
  <acquiredDate>01/01/2002</acquiredDate>
  <natureOfAcquisitionTransaction>Initial Gift and Dividend Reinvest </natureOfAcquisitionTransaction>
  <nameOfPersonfromWhomAcquired>Family Member</nameOfPersonfromWhomAcquired>
  <isGiftTransaction>Y</isGiftTransaction>
  <donarAcquiredDate>01/01/2002</donarAcquiredDate>
  <amountOfSecuritiesAcquired>6</amountOfSecuritiesAcquired>
  <paymentDate>01/01/2002</paymentDate>
  <natureOfPayment>N/A</natureOfPayment>
  </securitiesToBeSold>
  <securitiesToBeSold>
  <securitiesClassTitle>Common Stock</securitiesClassTitle>
  <acquiredDate>12/01/2022</acquiredDate>
  <natureOfAcquisitionTransaction>Dividend Reinvest</natureOfAcquisitionTransaction>
  <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
  <isGiftTransaction>N</isGiftTransaction>
  <amountOfSecuritiesAcquired>1</amountOfSecuritiesAcquired>
  <paymentDate>12/01/2022</paymentDate>
  <natureOfPayment>N/A</natureOfPayment>
  </securitiesToBeSold>
  <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
  <remarks>Aggregate value based off 8/21/2023 stock price. Number of shares outstanding as of 7/28/2023. Form 144 is providing information regarding proposed sales on behalf of The Geisler Family Trust, for which Theodore Geisler is a trustee for 1484 of the shares.  The remaining 7 shares are on behalf of Theodore N. Geisler. Due to the age of the gifted shares, dates are approximate.  The filing of this Form 144 shall not be construed as an admission that the undersigned is an Affiliate of the Issuer.</remarks>
  <noticeSignature>
  <noticeDate>08/24/2023</noticeDate>
  <signature>/s/ Theodore N. Geisler</signature>
  </noticeSignature>
  </formData>
  </edgarSubmission>
metadata_documents: [{"type": "144", "sequence": "1", "filename": "primary_doc.xml", "secsgml_size_bytes": 5594}]
text: 144
  0001799703
  XXXXXXXX
  LIVE
  0000764622
  Pinnacle West Capital Corporation
  001-08962
  400 North Fifth Street, P.O. Box 53999
  Phoenix
  AZ
  85072-3999
  (602)-250-1000
  The Geisler Family Trust/Theodore N. Geisler
  Self
  Common Stock
  TD Ameritrade Institutional
  7801 Mesquite Bend Drive
  Suite 112
  Irving
  TX
  75063-6043
  1491
  115820.88
  113312203
  08/24/2023
  NYSE
  Common Stock
  11/09/2020
  Stock issued in connection with awards granted under the Company's Long Term Incentive Plan
  Pinnacle West Capital Corporation
  N
  238
  11/09/2020
  N/A
  Common Stock
  02/19/2021
  Stock issued in connection with awards granted under the Company's Long Term Incentive Plan
  Pinnacle West Capital Corporation
  N
  298
  02/19/2021
  N/A
  Common Stock
  02/18/2022
  Stock issued in connection with awards granted under the Company's Long Term Incentive Plan
  Pinnacle West Capital Corporation
  N
  948
  02/18/2022
  N/A
  Common Stock
  01/01/2002
  Initial Gift and Dividend Reinvest
  Family Member
  Y
  01/01/2002
  6
  01/01/2002
  N/A
  Common Stock
  12/01/2022
  Dividend Reinvest
  Pinnacle West Capital Corporation
  N
  1
  12/01/2022
  N/A
  Y
  Aggregate value based off 8/21/2023 stock price. Number of shares outstanding as of 7/28/2023. Form 144 is providing information regarding proposed sales on behalf of The Geisler Family Trust, for which Theodore Geisler is a trustee for 1484 of the shares.  The remaining 7 shares are on behalf of Theodore N. Geisler. Due to the age of the gifted shares, dates are approximate.  The filing of this Form 144 shall not be construed as an admission that the undersigned is an Affiliate of the Issuer.
  08/24/2023
  /s/ Theodore N. Geisler