In line with our final decision on AGN's gas distribution network, we have updated AGN's return on debt for 2022–23. As a result of this update, the return on debt for 2022–23 is 4.54 per cent. This results in an X-factor for 2022–23 of -1.10 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 AGN's gas distribution network, we have updated AGN's return on debt for 2023–24. As a result of this update, the return on debt for 2023–24 is 4.64 per cent. This results in an X-factor for 2023–24 of -1.82 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 AGN's gas distribution network, we have updated AGN's return on debt for 2024-25. As a result of this update, the return on debt for 2024-25 is 4.67 per cent. This results in an X-factor for 2024-25 of -3.06 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 AGN's gas distribution network, we have updated AGN's return on debt for 2025–26. As a result of this update, the return on debt for 2025–26 is 4.7 per cent. This results in an X-factor for 2025–26 of –6.67 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.