Review of rate of return guideline

Rate of return
Date initiated: 
31 July 2017
Effective date: 
17 December 2018
General inquiries - Rate of return
AER reference: 


Our rate of return guideline (Guideline) sets out the approach by which we will estimate the rate of return, and comprises the return on debt and the return on equity, as well as the value of imputation credits.

Estimation of the rate of return is complex, and the rate of return is a significant driver of regulated revenue.

On 10 July 2018 the AER released its draft rate of return guideline. Submissions on the draft closed on 25 September 2018.

Independent Panel to review the rate of return guideline

On 20 June 2018 the AER established an Independent Panel to review the rate of return guideline. More information on the Panel including their CVs are on our rate of return guideline webpage under the draft decision.

On 7 September 2018 we received the Independent Panel report. This was published on 11 September 2018.

Register your interest

Interested stakeholders can register their interest and be kept informed of developments in this area by sending us an email at