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{"sheet":"Index","index":0,"n_rows":14,"n_cols":4,"rows_kept":14,"cut":false,"hidden":false,"merged":[]}
[null,{"$f":"'Input | General'!$B$1","v":"TransGrid 2018-23 Revised Proposal - Capital expenditure sharing scheme model"}]
[null,"Index"]
[]
[null,null,"Model index"]
[]
[null,null,"Sheet Name","Sheet Description"]
[null,null,"Input | General","Inputs NSP name, regulatory years for the prior and forecast regulatory control period etc."]
[null,null,"Input | Inflation and Disc Rate","Inputs the inflation and discount rate"]
[null,null,"Input | Reported Capex","Inputs the reported capital expenditure from the prior regulatory control period as well as the AER's forecast etc."]
[null,null,"Calc | CESS Revenue Increments","Calculates the CESS payments from the prior regulatory control period"]
[null,null,"Output | Models","Outputs the CESS revenue increments needed as a post tax revenue model input"]
[null,null,"Lookup | Tables","Includes the lookup tables used within the CESS model."]
[]
[null,null,"End"]

{"sheet":"Input | General","index":1,"n_rows":20,"n_cols":9,"rows_kept":20,"cut":false,"hidden":false,"merged":[]}
[null,{"$f":"$D$6&\" \"&$D$8&\" \"&D7&\" - \"&\"Capital expenditure sharing scheme model\"","v":"TransGrid 2018-23 Revised Proposal - Capital expenditure sharing scheme model"},null,null,null,null,"Key:","Input","Internal Link"]
[null,"Input | General"]
[]
[null,"Input | General"]
[]
[null,null,"NSP Name","TransGrid"]
[null,null,"Determination stage","Revised Proposal"]
[null,null,"Determination years","2018-23"]
[]
[null,null,"Regulatory control period details"]
[null,null,null,"Year 1","Year 2","Year 3","Year 4","Year 5"]
[null,null,"Regulatory control period CESS applied in (regulatory years)","2014-15","2015-16","2016-17","2017-18","n/a"]
[null,null,"CESS to apply to this year's expenditure (Yes/No)","No","Yes","Yes","Yes","No"]
[null,null,"Actual or estimate year","Actual","Actual","Actual","Estimate","n/a"]
[]
[null,null,null,"Year 1","Year 2","Year 3","Year 4","Year 5"]
[null,null,"Regulatory control period CESS revenue increment applied in (regulatory years)","2018-19","2019-20","2020-21","2021-22","2022-23"]
[null,null,"Regulatory control period prior to CESS applied in (regulatory years)","2009-10","2010-11","2011-12","2012-13","2013-14"]
[]
[null,"End"]

{"sheet":"Input | Inflation and Disc Rate","index":2,"n_rows":20,"n_cols":16,"rows_kept":20,"cut":false,"hidden":false,"merged":[]}
[null,{"$f":"'Input | General'!$B$1","v":"TransGrid 2018-23 Revised Proposal - Capital expenditure sharing scheme model"},null,null,null,null,null,"Key:","Input","Internal Link"]
[null,null,"Input | Inflation and Discount rate"]
[]
[null,null,"Input | Inflation"]
[]
[null,null,null,"Source","Unit"]
[null,null,null,null,null,{"$f":"'Lookup | Tables'!$E$27","v":"2013-14"},{"$f":"'Lookup | Tables'!$E$28","v":"2014-15"},{"$f":"'Lookup | Tables'!$E$29","v":"2015-16"},{"$f":"'Lookup | Tables'!$E$30","v":"2016-17"},{"$f":"'Lookup | Tables'!$E$31","v":"2017-18"},{"$f":"'Lookup | Tables'!$E$32","v":"2018-19"},{"$f":"'Lookup | Tables'!$E$33","v":"2019-20"},{"$f":"'Lookup | Tables'!$E$34","v":"2020-21"},{"$f":"'Lookup | Tables'!$E$35","v":"2021-22"},{"$f":"'Lookup | Tables'!$E$36","v":"2022-23"},{"$f":"'Lookup | Tables'!$E$37","v":"2023-24"}]
[null,null,"Actual CPI Inflation Rate","TNSP","Per cent",null,1.7175572519083901E-2,1.6885553470919398E-2,1.4760147601476E-2,0.02]
[null,null,"Forecast CPI Inflation Rate","TNSP","Per cent",null,null,null,null,null,2.473798145515536E-2,2.473798145515536E-2,2.473798145515536E-2,2.473798145515536E-2,2.473798145515536E-2,2.473798145515536E-2]
[null,null,{"$f":"\"CPI Index (base year \"&F7&\")\"","v":"CPI Index (base year 2013-14)"},"TNSP","Index",1]
[null,null,"CPI Index","TNSP","Index",null,{"$f":"IF(G7<>\"\",(F10*(1+G8)),\"\")","v":1.0171755725190839},{"$f":"IF(H7<>\"\",(G11*(1+H8)),\"\")","v":1.0343511450381679},{"$f":"IF(I7<>\"\",(H11*(1+I8)),\"\")","v":1.0496183206106871},{"$f":"IF(J7<>\"\",(I11*(1+J8)),\"\")","v":1.0706106870229009},{"$f":"IF(K7<>\"\",(J11*(1+K9)),\"\")","v":1.0970954343441646},1.1242353608535061,1.1520466743615301,1.1805459836273591,1.2097503082772909,1.2396770889688231]
[]
[null,null,"Input | Discount rate"]
[]
[null,null,null,"Source","Unit",null,{"$f":"'Lookup | Tables'!$E$28","v":"2014-15"},{"$f":"'Lookup | Tables'!$E$29","v":"2015-16"},{"$f":"'Lookup | Tables'!$E$30","v":"2016-17"},{"$f":"'Lookup | Tables'!$E$31","v":"2017-18"},{"$f":"'Lookup | Tables'!$E$32","v":"2018-19"},{"$f":"'Lookup | Tables'!$E$33","v":"2019-20"},{"$f":"'Lookup | Tables'!$E$34","v":"2020-21"},{"$f":"'Lookup | Tables'!$E$35","v":"2021-22"},{"$f":"'Lookup | Tables'!$E$36","v":"2022-23"}]
[null,null,"Real Vanilla WACC","AER","Per cent",null,null,4.2670876489658394E-2,4.1872840151219171E-2,4.0826204640587838E-2]
[null,null,null,"TNSP","Per cent",null,null,null,null,null,3.9157799748564107E-2,3.9157799748564107E-2,3.9157799748564107E-2,3.9157799748564107E-2,3.9157799748564107E-2]
[null,null,"Nominal Vanilla WACC (fixed, real, time varying)","Calculated","Per cent",null,{"$f":"IF(AND('Input | Inflation and Disc Rate'!H8<>\"\",G16<>\"\"),((1+G16)*(1+'Input | Inflation and Disc Rate'!H8)-1),\"\")","v":""},{"$f":"IF(AND(H8<>\"\",H16<>\"\"),((1+H16)*(1+H8)-1),\"\")","v":6.0276951327194794E-2},{"$f":"IF(AND(I8<>\"\",I16<>\"\"),((1+I16)*(1+I8)-1),\"\")","v":5.7251037053820175E-2},{"$f":"IF(AND(J8<>\"\",J16<>\"\"),((1+J16)*(1+J8)-1),\"\")","v":6.1642728733399599E-2},{"$f":"IF(AND(K9<>\"\",K17<>\"\"),((1+K17)*(1+K9)-1),\"\")","v":6.486446612772423E-2},{"$f":"IF(AND(L9<>\"\",L17<>\"\"),((1+L17)*(1+L9)-1),\"\")","v":6.486446612772423E-2},{"$f":"IF(AND(M9<>\"\",M17<>\"\"),((1+M17)*(1+M9)-1),\"\")","v":6.486446612772423E-2},{"$f":"IF(AND(N9<>\"\",N17<>\"\"),((1+N17)*(1+N9)-1),\"\")","v":6.486446612772423E-2},{"$f":"IF(AND(O9<>\"\",O17<>\"\"),((1+O17)*(1+O9)-1),\"\")","v":6.486446612772423E-2}]
[]
[null,"End"]

{"sheet":"Input | Reported Capex","index":3,"n_rows":30,"n_cols":12,"rows_kept":30,"cut":false,"hidden":false,"merged":[]}
[null,{"$f":"'Input | General'!$B$1","v":"TransGrid 2018-23 Revised Proposal - Capital expenditure sharing scheme model"},null,null,null,null,null,null,"Key:","Input","Internal Link"]
[null,"Input | Capex"]
[]
[null,"Input | Capex Allowance"]
[]
[null,null,null,"Source","Unit","Basis",null,"n/a","2015-16","2016-17","2017-18","n/a"]
[]
[null,null,"Total capex allowance","AER","$millions","2013-14",null,null,304.60562586047001,235.329574147042,219.78423032238899]
[null,null,"Total excludable capex","AER","$millions","2013-14",null,null,2.6572200605991099,2.6572200605991099,2.6572200605991099]
[]
[null,null,"Total capex allowance applicable to CESS","Calculated","$millions","2013-14",null,{"$f":"IF(H6=\"\", \"\", H8-H9)","v":0},{"$f":"IF(I6=\"\", \"\", I8-I9)","v":301.9484057998709},{"$f":"IF(J6=\"\", \"\", J8-J9)","v":232.67235408644288},217.12701026178988,0]
[]
[null,"Input | Actual / Estimate Capex"]
[]
[null,null,null,"Source","Unit","Basis",null,"n/a","2015-16","2016-17","2017-18","n/a"]
[]
[null,null,"Total capex","TNSP","$millions","nominal",null,null,247.26483301340801,184.75,227.48152321176545]
[null,null,"Asset Disposals","TNSP","$millions","nominal",null,null,2.8681799100000003,1.9167664099999999,3.8838265341818179]
[null,null,"NCIPAP","TNSP","$millions","nominal",null,null,7.1001515599999987,8.1106276900000012,3.16916597046239]
[null,null,"Total excludable capex","TNSP","$millions","nominal",null,null,{"$f":"I18+I19","v":9.968331469999999},{"$f":"J18+J19","v":10.0273941},{"$f":"K18+K19","v":7.0529925046442079}]
[]
[null,null,"Total actual capex applicable to CESS","Calculated","$millions","nominal",null,{"$f":"IF(H15=\"\", \"\", H17-H20)","v":0},{"$f":"IF(I15=\"\", \"\", I17-I20)","v":237.296501543408},{"$f":"IF(J15=\"\", \"\", J17-J20)","v":174.72260589999999},{"$f":"IF(K15=\"\", \"\", K17-K20)","v":220.42853070712124},{"$f":"IF(L15=\"\", \"\", L17-L20)","v":0}]
[]
[null,"Input | Capex Deferred to following regulatory period"]
[]
[null,null,null,null,null,null,null,{"$f":"'Input | General'!D17","v":"2018-19"},{"$f":"'Input | General'!E17","v":"2019-20"},{"$f":"'Input | General'!F17","v":"2020-21"},{"$f":"'Input | General'!G17","v":"2021-22"},{"$f":"'Input | General'!H17","v":"2022-23"}]
[]
[null,null,"Capex deferred and re-proposed","TNSP","$millions","nominal",null,13.031505317655901,26.627304979359501,0,0,0]
[]
[null,"End"]

{"sheet":"Calc | CESS Revenue Increments","index":4,"n_rows":51,"n_cols":13,"rows_kept":51,"cut":false,"hidden":false,"merged":[[47,2,47,14],[48,2,48,14]]}
[null,{"$f":"'Input | General'!$B$1","v":"TransGrid 2018-23 Revised Proposal - Capital expenditure sharing scheme model"},null,null,null,null,null,null,null,null,"Key:","Input","Internal Link"]
[null,"Input | CESS Payments"]
[]
[null,"Calc | NPV of CESS payments"]
[]
[null,null,"Regulatory period 1"]
[null,null,"Year","n/a","2015-16","2016-17","2017-18","n/a"]
[null,null,"Finance rate (Real WACC):",null,{"$f":"'Input | Inflation and Disc Rate'!H16","v":4.2670876489658394E-2},{"$f":"'Input | Inflation and Disc Rate'!I16","v":4.1872840151219171E-2},{"$f":"'Input | Inflation and Disc Rate'!J16","v":4.0826204640587838E-2}]
[null,null,"Discount rate:",null,{"$f":"'Input | Inflation and Disc Rate'!H18","v":6.0276951327194794E-2},{"$f":"'Input | Inflation and Disc Rate'!I18","v":5.7251037053820175E-2},{"$f":"'Input | Inflation and Disc Rate'!J18","v":6.1642728733399599E-2}]
[null,null,"Capex allowance",null,{"$f":"'Input | Reported Capex'!I11*'Input | Inflation and Disc Rate'!G11*(1+'Input | Inflation and Disc Rate'!H8)^0.5","v":309.71675601610724},{"$f":"'Input | Reported Capex'!J11*'Input | Inflation and Disc Rate'!H11*(1+'Input | Inflation and Disc Rate'!I8)^0.5","v":242.43453466930001},{"$f":"'Input | Reported Capex'!K11*'Input | Inflation and Disc Rate'!I11*(1+'Input | Inflation and Disc Rate'!J8)^0.5","v":230.16821027002047}]
[null,null,"Actual capex",null,{"$f":"'Input | Reported Capex'!I22","v":237.296501543408},{"$f":"'Input | Reported Capex'!J22","v":174.72260589999999},{"$f":"'Input | Reported Capex'!K22","v":220.42853070712124}]
[null,null,"Underspend",null,{"$f":"(E10-E11)","v":72.420254472699241},{"$f":"(F10-F11)","v":67.711928769300016},9.7396795628992265]
[null,null,"Underspend + 1/2 Nominal WACC",null,{"$f":"E12*(1+E9)^0.5","v":74.570955325263526},{"$f":"F12*(1+F9)^0.5","v":69.623242388898248},{"$f":"G12*(1+G9)^0.5","v":10.035380956679742}]
[null,null,"Year 1 benefit",null,{"$f":"$D$12*E$8","v":0},{"$f":"$D$12*F$8","v":0},{"$f":"$D$12*G$8","v":0}]
[null,null,"Year 2 benefit",null,null,{"$f":"$E$13*$F$8","v":3.1224976922584657},{"$f":"$E$13*G$8","v":3.0444490823533421}]
[null,null,"Year 3 benefit",null,null,null,{"$f":"$F$13*G$8","v":2.8424527415104097}]
[null,null,"Year 4 benefit"]
[null,null,"Year 5 benefit"]
[null,null,"Total financing benefit",null,{"$f":"SUM(E14:E18)","v":0},{"$f":"SUM(F14:F18)","v":3.1224976922584657},5.8869018238637523]
[null,null,"Discount factor (middle of year)*",null,{"$f":"(1+E$9)^(0.5)*(1+F$9)*(1+G$9)","v":1.1557560346447509},{"$f":"(1+F$9)^(0.5)*(1+G$9)","v":1.0916098592443173},{"$f":"(1+G$9)^(0.5)","v":1.0303604848466383}]
[null,null,"Discount factor (end of year)**",null,{"$f":"F21*(1+F$9)","v":1.1224228759340342},{"$f":"G21*(1+G$9)","v":1.0616427287333996},1]
[null,null,"NPV underspend",null,{"$f":"E12*E20","v":83.700146137330663},73.91500903301683,{"$f":"G12*G20","v":10.035380956679742}]
[null,null,"NPV financing benefit",null,{"$f":"E19*E21","v":0},{"$f":"F19*F21","v":3.3149769704730208},{"$f":"G19*G21","v":5.8869018238637523}]
[]
[null,null,"Regulatory period 2"]
[null,null,"Year",{"$f":"'Input | General'!$D$17","v":"2018-19"},{"$f":"'Input | General'!$E$17","v":"2019-20"},{"$f":"'Input | General'!$F$17","v":"2020-21"},{"$f":"'Input | General'!$G$17","v":"2021-22"},{"$f":"'Input | General'!$H$17","v":"2022-23"}]
[null,null,"Discount rate:",{"$f":"'Input | Inflation and Disc Rate'!$K$18","v":6.486446612772423E-2},{"$f":"'Input | Inflation and Disc Rate'!$L$18","v":6.486446612772423E-2},{"$f":"'Input | Inflation and Disc Rate'!$M$18","v":6.486446612772423E-2},{"$f":"'Input | Inflation and Disc Rate'!$N$18","v":6.486446612772423E-2},{"$f":"'Input | Inflation and Disc Rate'!$O$18","v":6.486446612772423E-2}]
[null,null,"Increase in forecast capex in regulatory period 2 attributable to capex deferred in regulatory period 1",{"$f":"'Input | Reported Capex'!H28","v":13.031505317655901},{"$f":"'Input | Reported Capex'!I28","v":26.627304979359501},{"$f":"'Input | Reported Capex'!J28","v":0},{"$f":"'Input | Reported Capex'!K28","v":0},{"$f":"'Input | Reported Capex'!L28","v":0}]
[null,null,"Discount factor (middle of year 5)",{"$f":"1/(1+D27)^(0.5)","v":0.96906483067744664},{"$f":"1/((1+E27)^(0.5)*(1+D27))","v":0.91003584165162021},{"$f":"1/((1+F27)^(0.5)*(1+E27)*(1+D27))","v":0.85460250632728574},{"$f":"1/((1+G27)^(0.5)*(1+F27)*(1+E27)*(1+D27))","v":0.80254580137786402},{"$f":"1/((1+H27)^(0.5)*(1+G27)*(1+F27)*(1+E27)*(1+D27))","v":0.75366004492218952}]
[null,null,"NPV of increase in forecast capex from deferred capex",{"$f":"D28*D29","v":12.62837349412646},{"$f":"E28*E29","v":24.231801897805802},0,0,0]
[]
[null,null,"CESS calculation (post-adjustment)"]
[null,null,"Total underspend (NPV) adjusted for deferrals",{"$f":"SUM(D22:H22)-SUM(D30:H30)","v":130.79036073509496}]
[null,null,"Relevant sharing ratio",0.3]
[null,null,"Consumer share",{"$f":"(1-D34)*D33","v":91.553252514566466}]
[null,null,"NSP share",{"$f":"D34*D33","v":39.237108220528491}]
[null,null,"Total NSP financing benefit (NPV)",{"$f":"SUM(D23:H23)","v":9.201878794336773}]
[null,null,"NPV of CESS payments (post-adjustment)",{"$f":"D36-D37","v":30.035229426191719}]
[]
[null,"Calc | Total CESS Payments"]
[]
[null,null,null,{"$f":"'Input | General'!D17","v":"2018-19"},{"$f":"'Input | General'!E17","v":"2019-20"},{"$f":"'Input | General'!F17","v":"2020-21"},{"$f":"'Input | General'!G17","v":"2021-22"},{"$f":"'Input | General'!H17","v":"2022-23"}]
[null,null,{"$f":"CONCATENATE(\"CESS Payment Per Year ($\", 'Output | Models'!F4,\" million)\")","v":"CESS Payment Per Year ($2017-18 million)"},{"$f":"-PMT('Input | Inflation and Disc Rate'!K17,5,'Calc | CESS Revenue Increments'!$D$38)","v":6.7307725215645497},{"$f":"-PMT('Input | Inflation and Disc Rate'!L17,5,'Calc | CESS Revenue Increments'!$D$38)","v":6.7307725215645497},{"$f":"-PMT('Input | Inflation and Disc Rate'!M17,5,'Calc | CESS Revenue Increments'!$D$38)","v":6.7307725215645497},{"$f":"-PMT('Input | Inflation and Disc Rate'!N17,5,'Calc | CESS Revenue Increments'!$D$38)","v":6.7307725215645497},{"$f":"-PMT('Input | Inflation and Disc Rate'!O17,5,'Calc | CESS Revenue Increments'!$D$38)","v":6.7307725215645497}]
[]
[null,null,{"$f":"CONCATENATE(\"Total CESS Payment ($\", 'Output | Models'!$F$4,\" million)\")","v":"Total CESS Payment ($2017-18 million)"},{"$f":"SUM(D43:H43)","v":33.653862607822745}]
[]
[null,null,"Notes"]
[null,null,"* Capex is assumed to occur mid-year. Hence, a mid-year discount rate is required for capex allowance, actual capex and underspend."]
[null,null,"** The financing benefit is calculated on an end of year basis. Hence, an end of year discount rate is required."]
[]
[null,"End"]

{"sheet":"Output | Models","index":5,"n_rows":11,"n_cols":15,"rows_kept":11,"cut":false,"hidden":false,"merged":[[2,9,2,11],[2,13,2,19]]}
[null,{"$f":"'Input | General'!$B$1","v":"TransGrid 2018-23 Revised Proposal - Capital expenditure sharing scheme model"},null,null,null,null,null,null,null,null,"Key:","Input","Internal Link"]
[null,"Output | Models"]
[]
[null,"Inputs for Post Tax Revenue Model",null,null,"$millions","2017-18",null,null,null,"Note. The dollar base should be consistent with the post tax revenue model"]
[]
[null,null,"Revenue Adjustments","Source","Unit","Basis",null,null,null,{"$f":"'Calc | CESS Revenue Increments'!D42","v":"2018-19"},{"$f":"'Calc | CESS Revenue Increments'!E42","v":"2019-20"},{"$f":"'Calc | CESS Revenue Increments'!F42","v":"2020-21"},{"$f":"'Calc | CESS Revenue Increments'!G42","v":"2021-22"},{"$f":"'Calc | CESS Revenue Increments'!H42","v":"2022-23"},"Total"]
[]
[null,null,"CESS increments as per NER 6A.5.4(a)(5)","Calc | CESS Revenue Increments",{"$f":"$E$4","v":"$millions"},{"$f":"$F$4","v":"2017-18"},null,null,null,{"$f":"'Calc | CESS Revenue Increments'!D43","v":6.7307725215645497},{"$f":"'Calc | CESS Revenue Increments'!E43","v":6.7307725215645497},{"$f":"'Calc | CESS Revenue Increments'!F43","v":6.7307725215645497},{"$f":"'Calc | CESS Revenue Increments'!G43","v":6.7307725215645497},{"$f":"'Calc | CESS Revenue Increments'!H43","v":6.7307725215645497},{"$f":"SUM(J8:N8)","v":33.653862607822745}]
[]
[]
[null,"End"]

{"sheet":"Lookup | Tables","index":6,"n_rows":39,"n_cols":11,"rows_kept":39,"cut":false,"hidden":false,"merged":[]}
[null,{"$f":"'Input | General'!$B$1","v":"TransGrid 2018-23 Revised Proposal - Capital expenditure sharing scheme model"},null,null,null,null,null,null,"Key:","Input","Internal Link"]
[null,"Lookup | Tables"]
[]
[null,"Unit Denominations"]
[]
[null,null,"Denominations",null,"Ref"]
[null,null,"Dollars",null,"$dollars"]
[null,null,"Thousands",null,"$000"]
[null,null,"Millions",null,"$millions"]
[]
[null,null,"Actual",null,"Actual"]
[null,null,"Estimate",null,"Estimate"]
[null,null,"not applicable",null,"n/a"]
[]
[]
[null,"Years"]
[]
[null,null,{"$f":"B16","v":"Years"},null,"Ref"]
[null,null,"not applicable",null,"n/a"]
[null,null,"nominal",null,"nominal"]
[null,null,"2007-08",null,"2007-08"]
[null,null,"2008-09",null,"2008-09"]
[null,null,"2009-10",null,"2009-10"]
[null,null,"2010-11",null,"2010-11"]
[null,null,"2011-12",null,"2011-12"]
[null,null,"2012-13",null,"2012-13"]
[null,null,"2013-14",null,"2013-14"]
[null,null,"2014-15",null,"2014-15"]
[null,null,"2015-16",null,"2015-16"]
[null,null,"2016-17",null,"2016-17"]
[null,null,"2017-18",null,"2017-18"]
[null,null,"2018-19",null,"2018-19"]
[null,null,"2019-20",null,"2019-20"]
[null,null,"2020-21",null,"2020-21"]
[null,null,"2021-22",null,"2021-22"]
[null,null,"2022-23",null,"2022-23"]
[null,null,"2023-24",null,"2023-24"]
[]
[null,"End"]