This excel spreadsheet provides stakeholders with the full WACC model used in preparing the Fact Sheet.

Please note: A version of this calculator was published on 24 February 2023 that contained an error in Table 17.2 on the “Trailing average” worksheet.

The error has been corrected for this version of the calculator.

Changes were made to cells C33:D42 of the “Trailing average” worksheet. See cell F26 and F33 of the “Trailing average” worksheet for more detailed explanation.

We note that this error did not affect the February 2023 biannual market update fact sheet which shows the correct WACC estimates.