AER - Final decision - Transgrid 2024–29 - WSB non-contestable - PTRM - 2025–26 Annual Adjustment – May 2025

Update - 2025–26 annual adjustment

In line with the adjustment mechanisms in our remade final decision (June 2024), we have adjusted revenue for the Waratah Super Battery project by:

• Updating the return on debt for 2025–26. We calculated the applicable rate of return in accordance with the 2022 Rate of return instrument using the return on debt averaging period nominated by Transgrid and accepted by the AER. As a result of this update, the updated return on debt for 2025–26 is 6.07% (nominal).
• Updating inflation for 2025–26. We calculated inflation using the consumer price index as specified in the inflation adjustment mechanism. As a result of this update, the inflation rate for 2025–26 is 2.42%.