CitiPower - 2018 debt update - PTRM - PUBLIC

On 25 May the AER wrote to CitiPower indicating that it had revoked and substituted the 2016-20 regulatory determinations to correct for the inflation estimation error. As set out in the attached letter, the new determinations will have the effect of reducing the businesses revenue in the 2019 and 2020 regulatory years by the amount of the correction (in NPV terms).

Background

On 15 December 2017 the AER wrote to CitiPower setting out how it proposed to correct a mathematical error in the inflation calculation in its 26 May 2016 decision.