In line with our final decision on AGN's electricity 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.