AER - AusNet Services transmission 2022–27 PTRM - 2025–26 Return on debt update - March 2025

In line with our final decision on AusNet Services' electricity transmission network, we have updated AusNet Services' return on debt for 2025–26. As a result of this update, the return on debt for 2025–26 is 4.52 per cent. This results in an X-factor for 2025–26 of 0.51 per cent. 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.