In line with our final decision on Multinet's gas distribution network, we have updated Multinet's return on debt for 2024-25. As a result of this update, the return on debt for 2024-25 is 4.42 per cent. This results in an X-factor for 2024-25 of -1.69 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.

In line with our final decision on Multinet's gas distribution network, we have updated Multinet's return on debt for 2025–26. As a result of this update, the return on debt for 2025–26 is 4.54 per cent. This results in an X-factor for 2025–26 of –1.57 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.

In line with our final decision on Multinet's gas distribution network, we have updated Multinet's return on debt for 2026–27. As a result of this update, the return on debt for 2026–27 is 4.67 per cent. This results in an X-factor for 2026–27 of –1.35 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.