AER - Ausgrid distribution 2019-24 - Post-tax revenue model - 2022-23 Return on debt update - January 2022

In line with our final decision on Ausgrid's electricity distribution and transmission networks, we have updated Ausgrid's return on debt for 2022-23. As a result of this update, the return on debt for 2022-23 is 4.62 per cent for its distribution and transmission networks. This results in an X-factor for 2022-23 of 3.69 per cent and -13.56 for its distribution and transmission networks respectively. Holding other things constant, a positive X-factor implies a real revenue decrease and a negative X-factor implies a real revenue increase. The revised PTRM shows the updated X-factor.