In line with our final decision on TasNetworks' electricity distribution and transmission networks, we have updated TasNetworks' return on debt for 2025–26. As a result of this update, the return on debt for 2025–26 is 4.59 per cent and 4.63 per cent for its distribution and transmission networks respectively. This results in an X-factor for 2025–26 of –8.51 per cent and –1.40 per cent for its distribution and transmission networks respectively. 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 TasNetworks' electricity distribution and transmission networks, we have updated TasNetworks' return on debt for 2026–27. As a result of this update, the return on debt for 2026–27 is 4.69 per cent. This results in an X-factor for 2026–27 of –9.13 per cent and –3.16 per cent for its distribution and transmission networks respectively. 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 PTRMs show the updated X-factors.

We have amended TasNetworks’ transmission determination for the 2024-29 regulatory control period. The amendment adds a concessional finance adjustment factor to the MAR formula on page 5 in Attachment 1 to allow for the benefits of a concessional finance agreement between TasNetworks and the Clean Energy Finance Corporation (CEFC) to be shared with costumers through a reduction to allowed revenue. 

This concessional finance agreement relates to TasNetworks' North West Transmission Development. As a result of this concessional finance adjustment, the maximum allowed revenue that TasNetworks can recover from transmission consumers in the 2026-27 financial year will be reduced by $6.9 million (or approximately 4%).