AER - Final decision - AGN 2023–28 - PTRM - 2026–27 Return on debt update - March 2026

In line with our final decision on AGN's gas distribution network, we have updated AGN's return on debt for 2026–27. As a result of this update, the return on debt for 2026–27 is 4.72 per cent. This results in an X-factor for 2026–27 of 0.44 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.