{"text_format":"1","workbook":"xlsx","n_sheets":14,"sheets":["Cover","Summary","Sc1","Sc2","Sc3","Sc4","Sc5","Sc6","Sc7","Sc8","Sc9","Sc10","Sc11","Sc12"],"not_rendered":{"charts":0,"images":4,"macros":0,"external_links":0,"defined_names":2,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Cover","index":0,"n_rows":25,"n_cols":3,"rows_kept":25,"cut":false,"hidden":false,"merged":[]}
[null,"THE INDEPENDENT PRICING AND REGULATORY TRIBUNAL OF NSW"]
[]
[null,"IPART SCENARIO SUMMARY WORKBOOK FOR COST BUILDING BLOCK TEMPLATE - JULY 2016"]
[]
[null,"Purpose of the SCENARIO SUMMARY workbook"]
[]
[null,"The Scenario Summary workbook can be used to record copies of the 'Scenario' worksheet for a number of different scenarios (nb - pasted  as"]
[null,"values).  This will make it easier to compare different scenarios (inputs and outputs) and the assumptions used to generate them. "]
[]
[null,"The Scenario Summary workbook can be a very useful tool, for example for "]
[null,"g","sensitivity analysis  (ie, testing the impact of different input values)"]
[null,"g","keeping a record of scenario inputs and outputs "]
[null,"g","testing the impact of different tariff structures on bills and target revenue"]
[null,"g","producing comparative tables showing different scenario outcomes"]
[null,"g","analysis of cost drivers."]
[]
[null,"Using the SCENARIO SUMMARY workbook"]
[]
[null,"g","For each scenario run, copy and paste the outputs (from the 'Scenario' worksheet) into the one of the worksheets named 'Sc1' to 'Sc12'. You should paste values (and therefore avoid linking workbooks) to ensure the intended scenario is not affected by other model runs."]
[null,"g","The tables on the 'Summary' worksheet compare a number of the inputs and outputs for each scenario.   "]
[null,null,"These can be used for further analysis, or to produce tables for reports, Tribunal briefings etc."]
[]
[]
[null,"Developed by Bee Thompson"]
[null,"e","Bee_Thompson@IPART.nsw.gov.au"]

{"sheet":"Summary","index":1,"n_rows":461,"n_cols":22,"rows_kept":461,"cut":false,"hidden":false,"merged":[]}
[]
[null,"KEY INPUTS AND DECISIONS"]
[null,"unhide rows to see table contents"]
[]
[]
[null,"Decisions regarding expenditure and depreciation"]
[null,null,null,{"$f":"'Sc1'!B38","v":"Calculate forecast costs and prices in nominal or 2015-16 $?"},null,null,null,null,"Forecast opex","Historical capex","Forecast capex","Historical cash cap cons","Forecast cash cap cons","Historical depreciation"]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!$J$38","v":"2015-16 $"},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!$J$40","v":"Option 1 - Agency forecast"},{"$f":"'Sc1'!$J$43","v":"Option 1 - Agency capex"},{"$f":"'Sc1'!$J$44","v":"Option 1 - Agency capex"},{"$f":"'Sc1'!$J$47","v":"Option 1 - Agency cap cons"},{"$f":"'Sc1'!$J$48","v":"Option 1 - Agency cap cons"},{"$f":"'Sc1'!$J$50","v":"Allowed depreciation"}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!$J$38","v":"2015-16 $"},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!$J$40","v":"Option 2 - Regulator forecast"},{"$f":"'Sc2'!$J$43","v":"Option 1 - Agency capex"},{"$f":"'Sc2'!$J$44","v":"Option 1 - Agency capex"},{"$f":"'Sc2'!$J$47","v":"Option 1 - Agency cap cons"},{"$f":"'Sc2'!$J$48","v":"Option 1 - Agency cap cons"},{"$f":"'Sc2'!$J$50","v":"Allowed depreciation"}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!$J$38","v":"2015-16 $"},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!$J$40","v":"Option 2 - Regulator forecast"},{"$f":"'Sc3'!$J$43","v":"Option 2 - Regulator capex"},{"$f":"'Sc3'!$J$44","v":"Option 2 - Regulator capex"},{"$f":"'Sc3'!$J$47","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc3'!$J$48","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc3'!$J$50","v":"Allowed depreciation"}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!$J$38","v":"2015-16 $"},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!$J$40","v":"Option 2 - Regulator forecast"},{"$f":"'Sc4'!$J$43","v":"Option 2 - Regulator capex"},{"$f":"'Sc4'!$J$44","v":"Option 2 - Regulator capex"},{"$f":"'Sc4'!$J$47","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc4'!$J$48","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc4'!$J$50","v":"Allowed depreciation"}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!$J$38","v":"2015-16 $"},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!$J$40","v":"Option 2 - Regulator forecast"},{"$f":"'Sc5'!$J$43","v":"Option 2 - Regulator capex"},{"$f":"'Sc5'!$J$44","v":"Option 2 - Regulator capex"},{"$f":"'Sc5'!$J$47","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc5'!$J$48","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc5'!$J$50","v":"Allowed depreciation"}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!$J$38","v":"2015-16 $"},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!$J$40","v":"Option 2 - Regulator forecast"},{"$f":"'Sc6'!$J$43","v":"Option 2 - Regulator capex"},{"$f":"'Sc6'!$J$44","v":"Option 2 - Regulator capex"},{"$f":"'Sc6'!$J$47","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc6'!$J$48","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc6'!$J$50","v":"Allowed depreciation"}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!$J$38","v":"2015-16 $"},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!$J$40","v":"Option 2 - Regulator forecast"},{"$f":"'Sc7'!$J$43","v":"Option 2 - Regulator capex"},{"$f":"'Sc7'!$J$44","v":"Option 2 - Regulator capex"},{"$f":"'Sc7'!$J$47","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc7'!$J$48","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc7'!$J$50","v":"Allowed depreciation"}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!$J$38","v":"2015-16 $"},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!$J$40","v":"Option 2 - Regulator forecast"},{"$f":"'Sc8'!$J$43","v":"Option 2 - Regulator capex"},{"$f":"'Sc8'!$J$44","v":"Option 2 - Regulator capex"},{"$f":"'Sc8'!$J$47","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc8'!$J$48","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc8'!$J$50","v":"Allowed depreciation"}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!$J$38","v":"2015-16 $"},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!$J$40","v":"Option 2 - Regulator forecast"},{"$f":"'Sc9'!$J$43","v":"Option 2 - Regulator capex"},{"$f":"'Sc9'!$J$44","v":"Option 2 - Regulator capex"},{"$f":"'Sc9'!$J$47","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc9'!$J$48","v":"Option 2 - Regulator cap cons"},{"$f":"'Sc9'!$J$50","v":"Allowed depreciation"}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!$J$38","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!$J$40","v":0},{"$f":"'Sc10'!$J$43","v":0},{"$f":"'Sc10'!$J$44","v":0},{"$f":"'Sc10'!$J$47","v":0},{"$f":"'Sc10'!$J$48","v":0},{"$f":"'Sc10'!$J$50","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!$J$38","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!$J$40","v":0},{"$f":"'Sc11'!$J$43","v":0},{"$f":"'Sc11'!$J$44","v":0},{"$f":"'Sc11'!$J$47","v":0},{"$f":"'Sc11'!$J$48","v":0},{"$f":"'Sc11'!$J$50","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!$J$38","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!$J$40","v":0},{"$f":"'Sc12'!$J$43","v":0},{"$f":"'Sc12'!$J$44","v":0},{"$f":"'Sc12'!$J$47","v":0},{"$f":"'Sc12'!$J$48","v":0},{"$f":"'Sc12'!$J$50","v":0}]
[]
[]
[null,"Decisions regarding Tax"]
[null,null,null,null,null,null,null,null,"Cash cap cons - historical",null,"Cash cap cons - forecast",null,"Type of business regarding tax"]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},null,null,null,null,null,{"$f":"'Sc1'!$J$53","v":"Use gross amount & include tax in tax allowance"},null,{"$f":"'Sc1'!$J$54","v":"Use net of tax & do not included tax in tax allowance"},null,{"$f":"'Sc1'!$D$29","v":"1. Pays tax and can provide forecast tax depreciation"}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},null,null,null,null,null,{"$f":"'Sc2'!$J$53","v":"Use gross amount & include tax in tax allowance"},null,{"$f":"'Sc2'!$J$54","v":"Use net of tax & do not included tax in tax allowance"},null,{"$f":"'Sc2'!$D$29","v":"1. Pays tax and can provide forecast tax depreciation"}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},null,null,null,null,null,{"$f":"'Sc3'!$J$53","v":"Use gross amount & include tax in tax allowance"},null,{"$f":"'Sc3'!$J$54","v":"Use net of tax & do not included tax in tax allowance"},null,{"$f":"'Sc3'!$D$29","v":"1. Pays tax and can provide forecast tax depreciation"}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},null,null,null,null,null,{"$f":"'Sc4'!$J$53","v":"Use gross amount & include tax in tax allowance"},null,{"$f":"'Sc4'!$J$54","v":"Use net of tax & do not included tax in tax allowance"},null,{"$f":"'Sc4'!$D$29","v":"1. Pays tax and can provide forecast tax depreciation"}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},null,null,null,null,null,{"$f":"'Sc5'!$J$53","v":"Use gross amount & include tax in tax allowance"},null,{"$f":"'Sc5'!$J$54","v":"Use net of tax & do not included tax in tax allowance"},null,{"$f":"'Sc5'!$D$29","v":"1. Pays tax and can provide forecast tax depreciation"}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},null,null,null,null,null,{"$f":"'Sc6'!$J$53","v":"Use gross amount & include tax in tax allowance"},null,{"$f":"'Sc6'!$J$54","v":"Use net of tax & do not included tax in tax allowance"},null,{"$f":"'Sc6'!$D$29","v":"1. Pays tax and can provide forecast tax depreciation"}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},null,null,null,null,null,{"$f":"'Sc7'!$J$53","v":"Use gross amount & include tax in tax allowance"},null,{"$f":"'Sc7'!$J$54","v":"Use net of tax & do not included tax in tax allowance"},null,{"$f":"'Sc7'!$D$29","v":"1. Pays tax and can provide forecast tax depreciation"}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},null,null,null,null,null,{"$f":"'Sc8'!$J$53","v":"Use gross amount & include tax in tax allowance"},null,{"$f":"'Sc8'!$J$54","v":"Use net of tax & do not included tax in tax allowance"},null,{"$f":"'Sc8'!$D$29","v":"1. Pays tax and can provide forecast tax depreciation"}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},null,null,null,null,null,{"$f":"'Sc9'!$J$53","v":"Use gross amount & include tax in tax allowance"},null,{"$f":"'Sc9'!$J$54","v":"Use net of tax & do not included tax in tax allowance"},null,{"$f":"'Sc9'!$D$29","v":"1. Pays tax and can provide forecast tax depreciation"}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},null,null,null,null,null,{"$f":"'Sc10'!$J$53","v":0},null,{"$f":"'Sc10'!$J$54","v":0},null,{"$f":"'Sc10'!$D$29","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},null,null,null,null,null,{"$f":"'Sc11'!$J$53","v":0},null,{"$f":"'Sc11'!$J$54","v":0},null,{"$f":"'Sc11'!$D$29","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},null,null,null,null,null,{"$f":"'Sc12'!$J$53","v":0},null,{"$f":"'Sc12'!$J$54","v":0},null,{"$f":"'Sc12'!$D$29","v":0}]
[]
[]
[null,{"$f":"'Sc1'!$B$171","v":"  Operating expenditure"}]
[null,null,null,"nominal or real?","Selected option",null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!K$169","v":"2015-16 $'000"},{"$f":"'Sc1'!J$40","v":"Option 1 - Agency forecast"},null,null,null,null,{"$f":"'Sc1'!J$171","v":64950},{"$f":"'Sc1'!K$171","v":65000},{"$f":"'Sc1'!L$171","v":65150},{"$f":"'Sc1'!M$171","v":65300},{"$f":"'Sc1'!N$171","v":65450},{"$f":"'Sc1'!O$171","v":65600},{"$f":"'Sc1'!P$171","v":65750},{"$f":"'Sc1'!Q$171","v":65900},{"$f":"'Sc1'!R$171","v":66050},{"$f":"'Sc1'!S$171","v":66200},{"$f":"'Sc1'!T$171","v":66350}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!K$169","v":"2015-16 $'000"},{"$f":"'Sc2'!J$40","v":"Option 2 - Regulator forecast"},null,null,null,null,{"$f":"'Sc2'!J$171","v":63650},{"$f":"'Sc2'!K$171","v":63700},{"$f":"'Sc2'!L$171","v":63850},{"$f":"'Sc2'!M$171","v":63990},{"$f":"'Sc2'!N$171","v":64140},{"$f":"'Sc2'!O$171","v":64290},{"$f":"'Sc2'!P$171","v":64440},{"$f":"'Sc2'!Q$171","v":64580},{"$f":"'Sc2'!R$171","v":64730},{"$f":"'Sc2'!S$171","v":64880},{"$f":"'Sc2'!T$171","v":65020}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!K$169","v":"2015-16 $'000"},{"$f":"'Sc3'!J$40","v":"Option 2 - Regulator forecast"},null,null,null,null,{"$f":"'Sc3'!J$171","v":63650},{"$f":"'Sc3'!K$171","v":63700},{"$f":"'Sc3'!L$171","v":63850},{"$f":"'Sc3'!M$171","v":63990},{"$f":"'Sc3'!N$171","v":64140},{"$f":"'Sc3'!O$171","v":64290},{"$f":"'Sc3'!P$171","v":64440},{"$f":"'Sc3'!Q$171","v":64580},{"$f":"'Sc3'!R$171","v":64730},{"$f":"'Sc3'!S$171","v":64880},{"$f":"'Sc3'!T$171","v":65020}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!K$169","v":"2015-16 $'000"},{"$f":"'Sc4'!J$40","v":"Option 2 - Regulator forecast"},null,null,null,null,{"$f":"'Sc4'!J$171","v":63650},{"$f":"'Sc4'!K$171","v":63700},{"$f":"'Sc4'!L$171","v":63850},{"$f":"'Sc4'!M$171","v":63990},{"$f":"'Sc4'!N$171","v":64140},{"$f":"'Sc4'!O$171","v":64290},{"$f":"'Sc4'!P$171","v":64440},{"$f":"'Sc4'!Q$171","v":64580},{"$f":"'Sc4'!R$171","v":64730},{"$f":"'Sc4'!S$171","v":64880},{"$f":"'Sc4'!T$171","v":65020}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!K$169","v":"2015-16 $'000"},{"$f":"'Sc5'!J$40","v":"Option 2 - Regulator forecast"},null,null,null,null,{"$f":"'Sc5'!J$171","v":63650},{"$f":"'Sc5'!K$171","v":63700},{"$f":"'Sc5'!L$171","v":63850},{"$f":"'Sc5'!M$171","v":63990},{"$f":"'Sc5'!N$171","v":64140},{"$f":"'Sc5'!O$171","v":64290},{"$f":"'Sc5'!P$171","v":64440},{"$f":"'Sc5'!Q$171","v":64580},{"$f":"'Sc5'!R$171","v":64730},{"$f":"'Sc5'!S$171","v":64880},{"$f":"'Sc5'!T$171","v":65020}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!K$169","v":"2015-16 $'000"},{"$f":"'Sc6'!J$40","v":"Option 2 - Regulator forecast"},null,null,null,null,{"$f":"'Sc6'!J$171","v":63650},{"$f":"'Sc6'!K$171","v":63700},{"$f":"'Sc6'!L$171","v":63850},{"$f":"'Sc6'!M$171","v":63990},{"$f":"'Sc6'!N$171","v":64140},{"$f":"'Sc6'!O$171","v":64290},{"$f":"'Sc6'!P$171","v":64440},{"$f":"'Sc6'!Q$171","v":64580},{"$f":"'Sc6'!R$171","v":64730},{"$f":"'Sc6'!S$171","v":64880},{"$f":"'Sc6'!T$171","v":65020}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!K$169","v":"2015-16 $'000"},{"$f":"'Sc7'!J$40","v":"Option 2 - Regulator forecast"},null,null,null,null,{"$f":"'Sc7'!J$171","v":63650},{"$f":"'Sc7'!K$171","v":63700},{"$f":"'Sc7'!L$171","v":63850},{"$f":"'Sc7'!M$171","v":63990},{"$f":"'Sc7'!N$171","v":64140},{"$f":"'Sc7'!O$171","v":64290},{"$f":"'Sc7'!P$171","v":64440},{"$f":"'Sc7'!Q$171","v":64580},{"$f":"'Sc7'!R$171","v":64730},{"$f":"'Sc7'!S$171","v":64880},{"$f":"'Sc7'!T$171","v":65020}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!K$169","v":"2015-16 $'000"},{"$f":"'Sc8'!J$40","v":"Option 2 - Regulator forecast"},null,null,null,null,{"$f":"'Sc8'!J$171","v":63650},{"$f":"'Sc8'!K$171","v":63700},{"$f":"'Sc8'!L$171","v":63850},{"$f":"'Sc8'!M$171","v":63990},{"$f":"'Sc8'!N$171","v":64140},{"$f":"'Sc8'!O$171","v":64290},{"$f":"'Sc8'!P$171","v":64440},{"$f":"'Sc8'!Q$171","v":64580},{"$f":"'Sc8'!R$171","v":64730},{"$f":"'Sc8'!S$171","v":64880},{"$f":"'Sc8'!T$171","v":65020}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!K$169","v":"2015-16 $'000"},{"$f":"'Sc9'!J$40","v":"Option 2 - Regulator forecast"},null,null,null,null,{"$f":"'Sc9'!J$171","v":63650},{"$f":"'Sc9'!K$171","v":63700},{"$f":"'Sc9'!L$171","v":63850},{"$f":"'Sc9'!M$171","v":63990},{"$f":"'Sc9'!N$171","v":64140},{"$f":"'Sc9'!O$171","v":64290},{"$f":"'Sc9'!P$171","v":64440},{"$f":"'Sc9'!Q$171","v":64580},{"$f":"'Sc9'!R$171","v":64730},{"$f":"'Sc9'!S$171","v":64880},{"$f":"'Sc9'!T$171","v":65020}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!K$169","v":0},{"$f":"'Sc10'!J$40","v":0},null,null,null,null,{"$f":"'Sc10'!J$171","v":0},{"$f":"'Sc10'!K$171","v":0},{"$f":"'Sc10'!L$171","v":0},{"$f":"'Sc10'!M$171","v":0},{"$f":"'Sc10'!N$171","v":0},{"$f":"'Sc10'!O$171","v":0},{"$f":"'Sc10'!P$171","v":0},{"$f":"'Sc10'!Q$171","v":0},{"$f":"'Sc10'!R$171","v":0},{"$f":"'Sc10'!S$171","v":0},{"$f":"'Sc10'!T$171","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!K$169","v":0},{"$f":"'Sc11'!J$40","v":0},null,null,null,null,{"$f":"'Sc11'!J$171","v":0},{"$f":"'Sc11'!K$171","v":0},{"$f":"'Sc11'!L$171","v":0},{"$f":"'Sc11'!M$171","v":0},{"$f":"'Sc11'!N$171","v":0},{"$f":"'Sc11'!O$171","v":0},{"$f":"'Sc11'!P$171","v":0},{"$f":"'Sc11'!Q$171","v":0},{"$f":"'Sc11'!R$171","v":0},{"$f":"'Sc11'!S$171","v":0},{"$f":"'Sc11'!T$171","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!K$169","v":0},{"$f":"'Sc12'!J$40","v":0},null,null,null,null,{"$f":"'Sc12'!J$171","v":0},{"$f":"'Sc12'!K$171","v":0},{"$f":"'Sc12'!L$171","v":0},{"$f":"'Sc12'!M$171","v":0},{"$f":"'Sc12'!N$171","v":0},{"$f":"'Sc12'!O$171","v":0},{"$f":"'Sc12'!P$171","v":0},{"$f":"'Sc12'!Q$171","v":0},{"$f":"'Sc12'!R$171","v":0},{"$f":"'Sc12'!S$171","v":0},{"$f":"'Sc12'!T$171","v":0}]
[]
[]
[null,{"$f":"'Sc1'!$B$156","v":"Capex (net of cap cons)"}]
[null,null,null,"forecasts nominal or real?*","Selected option",{"$f":"'Sc1'!F$57","v":"2011-12"},{"$f":"'Sc1'!G$57","v":"2012-13"},{"$f":"'Sc1'!H$57","v":"2013-14"},{"$f":"'Sc1'!I$57","v":"2014-15"},{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc1'!G$156","v":34995},{"$f":"'Sc1'!H$156","v":17992},{"$f":"'Sc1'!I$156","v":34790},{"$f":"'Sc1'!J$156","v":64830},{"$f":"'Sc1'!K$156","v":57285.3},{"$f":"'Sc1'!L$156","v":23844.6},{"$f":"'Sc1'!M$156","v":69633.899999999994},{"$f":"'Sc1'!N$156","v":48703.199999999997},{"$f":"'Sc1'!O$156","v":54000},{"$f":"'Sc1'!P$156","v":43000},{"$f":"'Sc1'!Q$156","v":32000},{"$f":"'Sc1'!R$156","v":32500},{"$f":"'Sc1'!S$156","v":33000},{"$f":"'Sc1'!T$156","v":33500}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc2'!G$156","v":34995},{"$f":"'Sc2'!H$156","v":17992},{"$f":"'Sc2'!I$156","v":34790},{"$f":"'Sc2'!J$156","v":64830},{"$f":"'Sc2'!K$156","v":57285.3},{"$f":"'Sc2'!L$156","v":23844.6},{"$f":"'Sc2'!M$156","v":69633.899999999994},{"$f":"'Sc2'!N$156","v":48703.199999999997},{"$f":"'Sc2'!O$156","v":54000},{"$f":"'Sc2'!P$156","v":43000},{"$f":"'Sc2'!Q$156","v":32000},{"$f":"'Sc2'!R$156","v":32500},{"$f":"'Sc2'!S$156","v":33000},{"$f":"'Sc2'!T$156","v":33500}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc3'!G$156","v":34800},{"$f":"'Sc3'!H$156","v":17902},{"$f":"'Sc3'!I$156","v":34681},{"$f":"'Sc3'!J$156","v":64731},{"$f":"'Sc3'!K$156","v":55179},{"$f":"'Sc3'!L$156","v":25738.3},{"$f":"'Sc3'!M$156","v":69127.600000000006},{"$f":"'Sc3'!N$156","v":48586.9},{"$f":"'Sc3'!O$156","v":53900},{"$f":"'Sc3'!P$156","v":42900},{"$f":"'Sc3'!Q$156","v":31900},{"$f":"'Sc3'!R$156","v":32400},{"$f":"'Sc3'!S$156","v":32900},{"$f":"'Sc3'!T$156","v":33400}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc4'!G$156","v":34800},{"$f":"'Sc4'!H$156","v":17902},{"$f":"'Sc4'!I$156","v":34681},{"$f":"'Sc4'!J$156","v":64731},{"$f":"'Sc4'!K$156","v":55179},{"$f":"'Sc4'!L$156","v":25738.3},{"$f":"'Sc4'!M$156","v":69127.600000000006},{"$f":"'Sc4'!N$156","v":48586.9},{"$f":"'Sc4'!O$156","v":53900},{"$f":"'Sc4'!P$156","v":42900},{"$f":"'Sc4'!Q$156","v":31900},{"$f":"'Sc4'!R$156","v":32400},{"$f":"'Sc4'!S$156","v":32900},{"$f":"'Sc4'!T$156","v":33400}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc5'!G$156","v":34800},{"$f":"'Sc5'!H$156","v":17902},{"$f":"'Sc5'!I$156","v":34681},{"$f":"'Sc5'!J$156","v":64731},{"$f":"'Sc5'!K$156","v":55179},{"$f":"'Sc5'!L$156","v":25738.3},{"$f":"'Sc5'!M$156","v":69127.600000000006},{"$f":"'Sc5'!N$156","v":48586.9},{"$f":"'Sc5'!O$156","v":53900},{"$f":"'Sc5'!P$156","v":42900},{"$f":"'Sc5'!Q$156","v":31900},{"$f":"'Sc5'!R$156","v":32400},{"$f":"'Sc5'!S$156","v":32900},{"$f":"'Sc5'!T$156","v":33400}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc6'!G$156","v":34800},{"$f":"'Sc6'!H$156","v":17902},{"$f":"'Sc6'!I$156","v":34681},{"$f":"'Sc6'!J$156","v":64731},{"$f":"'Sc6'!K$156","v":55179},{"$f":"'Sc6'!L$156","v":25738.3},{"$f":"'Sc6'!M$156","v":69127.600000000006},{"$f":"'Sc6'!N$156","v":48586.9},{"$f":"'Sc6'!O$156","v":53900},{"$f":"'Sc6'!P$156","v":42900},{"$f":"'Sc6'!Q$156","v":31900},{"$f":"'Sc6'!R$156","v":32400},{"$f":"'Sc6'!S$156","v":32900},{"$f":"'Sc6'!T$156","v":33400}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc7'!G$156","v":34800},{"$f":"'Sc7'!H$156","v":17902},{"$f":"'Sc7'!I$156","v":34681},{"$f":"'Sc7'!J$156","v":64731},{"$f":"'Sc7'!K$156","v":55179},{"$f":"'Sc7'!L$156","v":25738.3},{"$f":"'Sc7'!M$156","v":69127.600000000006},{"$f":"'Sc7'!N$156","v":48586.9},{"$f":"'Sc7'!O$156","v":53900},{"$f":"'Sc7'!P$156","v":42900},{"$f":"'Sc7'!Q$156","v":31900},{"$f":"'Sc7'!R$156","v":32400},{"$f":"'Sc7'!S$156","v":32900},{"$f":"'Sc7'!T$156","v":33400}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc8'!G$156","v":34800},{"$f":"'Sc8'!H$156","v":17902},{"$f":"'Sc8'!I$156","v":34681},{"$f":"'Sc8'!J$156","v":64731},{"$f":"'Sc8'!K$156","v":55179},{"$f":"'Sc8'!L$156","v":25738.3},{"$f":"'Sc8'!M$156","v":69127.600000000006},{"$f":"'Sc8'!N$156","v":48586.9},{"$f":"'Sc8'!O$156","v":53900},{"$f":"'Sc8'!P$156","v":42900},{"$f":"'Sc8'!Q$156","v":31900},{"$f":"'Sc8'!R$156","v":32400},{"$f":"'Sc8'!S$156","v":32900},{"$f":"'Sc8'!T$156","v":33400}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc9'!G$156","v":34800},{"$f":"'Sc9'!H$156","v":17902},{"$f":"'Sc9'!I$156","v":34681},{"$f":"'Sc9'!J$156","v":64731},{"$f":"'Sc9'!K$156","v":55179},{"$f":"'Sc9'!L$156","v":25738.3},{"$f":"'Sc9'!M$156","v":69127.600000000006},{"$f":"'Sc9'!N$156","v":48586.9},{"$f":"'Sc9'!O$156","v":53900},{"$f":"'Sc9'!P$156","v":42900},{"$f":"'Sc9'!Q$156","v":31900},{"$f":"'Sc9'!R$156","v":32400},{"$f":"'Sc9'!S$156","v":32900},{"$f":"'Sc9'!T$156","v":33400}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!K$153","v":0},null,null,{"$f":"'Sc10'!G$156","v":0},{"$f":"'Sc10'!H$156","v":0},{"$f":"'Sc10'!I$156","v":0},{"$f":"'Sc10'!J$156","v":0},{"$f":"'Sc10'!K$156","v":0},{"$f":"'Sc10'!L$156","v":0},{"$f":"'Sc10'!M$156","v":0},{"$f":"'Sc10'!N$156","v":0},{"$f":"'Sc10'!O$156","v":0},{"$f":"'Sc10'!P$156","v":0},{"$f":"'Sc10'!Q$156","v":0},{"$f":"'Sc10'!R$156","v":0},{"$f":"'Sc10'!S$156","v":0},{"$f":"'Sc10'!T$156","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!K$153","v":0},null,null,{"$f":"'Sc11'!G$156","v":0},{"$f":"'Sc11'!H$156","v":0},{"$f":"'Sc11'!I$156","v":0},{"$f":"'Sc11'!J$156","v":0},{"$f":"'Sc11'!K$156","v":0},{"$f":"'Sc11'!L$156","v":0},{"$f":"'Sc11'!M$156","v":0},{"$f":"'Sc11'!N$156","v":0},{"$f":"'Sc11'!O$156","v":0},{"$f":"'Sc11'!P$156","v":0},{"$f":"'Sc11'!Q$156","v":0},{"$f":"'Sc11'!R$156","v":0},{"$f":"'Sc11'!S$156","v":0},{"$f":"'Sc11'!T$156","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!K$153","v":0},null,null,{"$f":"'Sc12'!G$156","v":0},{"$f":"'Sc12'!H$156","v":0},{"$f":"'Sc12'!I$156","v":0},{"$f":"'Sc12'!J$156","v":0},{"$f":"'Sc12'!K$156","v":0},{"$f":"'Sc12'!L$156","v":0},{"$f":"'Sc12'!M$156","v":0},{"$f":"'Sc12'!N$156","v":0},{"$f":"'Sc12'!O$156","v":0},{"$f":"'Sc12'!P$156","v":0},{"$f":"'Sc12'!Q$156","v":0},{"$f":"'Sc12'!R$156","v":0},{"$f":"'Sc12'!S$156","v":0},{"$f":"'Sc12'!T$156","v":0}]
[null,"* Historical capex (net of cap cons) is always in nominal prices"]
[]
[]
[null,{"$f":"'Sc1'!$B$84","v":"WACC"}]
[null,null,null,{"$f":"\"Description of \"&'Sc1'!$B$89","v":"Description of WACC used for forecast return on assets"},null,null,null,null,null,null,{"$f":"'Sc1'!$B$89","v":"WACC used for forecast return on assets"},{"$f":"'Sc1'!$B$90","v":"Pre-tax WACC for NPV calculations"},{"$f":"'Sc1'!$B$85","v":"Cost of Debt (nominal pre-tax)"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,null,{"$f":"'Sc1'!$D$89","v":4.7E-2},{"$f":"'Sc1'!$D$90","v":5.7000000000000002E-2},{"$f":"'Sc1'!$D$85","v":6.6500000000000004E-2}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,null,{"$f":"'Sc2'!$D$89","v":4.7E-2},{"$f":"'Sc2'!$D$90","v":5.7000000000000002E-2},{"$f":"'Sc2'!$D$85","v":6.6500000000000004E-2}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,null,{"$f":"'Sc3'!$D$89","v":4.7E-2},{"$f":"'Sc3'!$D$90","v":5.7000000000000002E-2},{"$f":"'Sc3'!$D$85","v":6.6500000000000004E-2}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,null,{"$f":"'Sc4'!$D$89","v":5.0999999999999997E-2},{"$f":"'Sc4'!$D$90","v":6.2E-2},{"$f":"'Sc4'!$D$85","v":7.1500000000000008E-2}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,null,{"$f":"'Sc5'!$D$89","v":5.0999999999999997E-2},{"$f":"'Sc5'!$D$90","v":6.2E-2},{"$f":"'Sc5'!$D$85","v":7.1500000000000008E-2}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,null,{"$f":"'Sc6'!$D$89","v":5.0999999999999997E-2},{"$f":"'Sc6'!$D$90","v":6.2E-2},{"$f":"'Sc6'!$D$85","v":7.1500000000000008E-2}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,null,{"$f":"'Sc7'!$D$89","v":5.0999999999999997E-2},{"$f":"'Sc7'!$D$90","v":6.2E-2},{"$f":"'Sc7'!$D$85","v":7.1500000000000008E-2}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,null,{"$f":"'Sc8'!$D$89","v":5.0999999999999997E-2},{"$f":"'Sc8'!$D$90","v":6.2E-2},{"$f":"'Sc8'!$D$85","v":7.1500000000000008E-2}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,null,{"$f":"'Sc9'!$D$89","v":5.0999999999999997E-2},{"$f":"'Sc9'!$D$90","v":6.2E-2},{"$f":"'Sc9'!$D$85","v":7.1500000000000008E-2}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!$E$89","v":0},null,null,null,null,null,null,{"$f":"'Sc10'!$D$89","v":0},{"$f":"'Sc10'!$D$90","v":0},{"$f":"'Sc10'!$D$85","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!$E$89","v":0},null,null,null,null,null,null,{"$f":"'Sc11'!$D$89","v":0},{"$f":"'Sc11'!$D$90","v":0},{"$f":"'Sc11'!$D$85","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!$E$89","v":0},null,null,null,null,null,null,{"$f":"'Sc12'!$D$89","v":0},{"$f":"'Sc12'!$D$90","v":0},{"$f":"'Sc12'!$D$85","v":0}]
[]
[]
[null,"Cost of debt for financial statement and ratio calculations"]
[null,null,null,null,null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},null,null,null,null,null,null,{"$f":"'Sc1'!J$92","v":6.3E-2},{"$f":"'Sc1'!K$92","v":6.6000000000000003E-2},{"$f":"'Sc1'!L$92","v":6.6000000000000003E-2},{"$f":"'Sc1'!M$92","v":6.6000000000000003E-2},{"$f":"'Sc1'!N$92","v":6.6000000000000003E-2},{"$f":"'Sc1'!O$92","v":6.6000000000000003E-2},{"$f":"'Sc1'!P$92","v":6.6000000000000003E-2},{"$f":"'Sc1'!Q$92","v":6.6000000000000003E-2},{"$f":"'Sc1'!R$92","v":6.6000000000000003E-2},{"$f":"'Sc1'!S$92","v":6.6000000000000003E-2},{"$f":"'Sc1'!T$92","v":6.6000000000000003E-2}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},null,null,null,null,null,null,{"$f":"'Sc2'!J$92","v":6.3E-2},{"$f":"'Sc2'!K$92","v":6.6000000000000003E-2},{"$f":"'Sc2'!L$92","v":6.6000000000000003E-2},{"$f":"'Sc2'!M$92","v":6.6000000000000003E-2},{"$f":"'Sc2'!N$92","v":6.6000000000000003E-2},{"$f":"'Sc2'!O$92","v":6.6000000000000003E-2},{"$f":"'Sc2'!P$92","v":6.6000000000000003E-2},{"$f":"'Sc2'!Q$92","v":6.6000000000000003E-2},{"$f":"'Sc2'!R$92","v":6.6000000000000003E-2},{"$f":"'Sc2'!S$92","v":6.6000000000000003E-2},{"$f":"'Sc2'!T$92","v":6.6000000000000003E-2}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},null,null,null,null,null,null,{"$f":"'Sc3'!J$92","v":6.3E-2},{"$f":"'Sc3'!K$92","v":6.6000000000000003E-2},{"$f":"'Sc3'!L$92","v":6.6000000000000003E-2},{"$f":"'Sc3'!M$92","v":6.6000000000000003E-2},{"$f":"'Sc3'!N$92","v":6.6000000000000003E-2},{"$f":"'Sc3'!O$92","v":6.6000000000000003E-2},{"$f":"'Sc3'!P$92","v":6.6000000000000003E-2},{"$f":"'Sc3'!Q$92","v":6.6000000000000003E-2},{"$f":"'Sc3'!R$92","v":6.6000000000000003E-2},{"$f":"'Sc3'!S$92","v":6.6000000000000003E-2},{"$f":"'Sc3'!T$92","v":6.6000000000000003E-2}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},null,null,null,null,null,null,{"$f":"'Sc4'!J$92","v":6.3E-2},{"$f":"'Sc4'!K$92","v":6.6000000000000003E-2},{"$f":"'Sc4'!L$92","v":6.6000000000000003E-2},{"$f":"'Sc4'!M$92","v":6.6000000000000003E-2},{"$f":"'Sc4'!N$92","v":6.6000000000000003E-2},{"$f":"'Sc4'!O$92","v":6.6000000000000003E-2},{"$f":"'Sc4'!P$92","v":6.6000000000000003E-2},{"$f":"'Sc4'!Q$92","v":6.6000000000000003E-2},{"$f":"'Sc4'!R$92","v":6.6000000000000003E-2},{"$f":"'Sc4'!S$92","v":6.6000000000000003E-2},{"$f":"'Sc4'!T$92","v":6.6000000000000003E-2}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},null,null,null,null,null,null,{"$f":"'Sc5'!J$92","v":6.3E-2},{"$f":"'Sc5'!K$92","v":6.6000000000000003E-2},{"$f":"'Sc5'!L$92","v":6.6000000000000003E-2},{"$f":"'Sc5'!M$92","v":6.6000000000000003E-2},{"$f":"'Sc5'!N$92","v":6.6000000000000003E-2},{"$f":"'Sc5'!O$92","v":6.6000000000000003E-2},{"$f":"'Sc5'!P$92","v":6.6000000000000003E-2},{"$f":"'Sc5'!Q$92","v":6.6000000000000003E-2},{"$f":"'Sc5'!R$92","v":6.6000000000000003E-2},{"$f":"'Sc5'!S$92","v":6.6000000000000003E-2},{"$f":"'Sc5'!T$92","v":6.6000000000000003E-2}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},null,null,null,null,null,null,{"$f":"'Sc6'!J$92","v":6.3E-2},{"$f":"'Sc6'!K$92","v":6.6000000000000003E-2},{"$f":"'Sc6'!L$92","v":6.6000000000000003E-2},{"$f":"'Sc6'!M$92","v":6.6000000000000003E-2},{"$f":"'Sc6'!N$92","v":6.6000000000000003E-2},{"$f":"'Sc6'!O$92","v":6.6000000000000003E-2},{"$f":"'Sc6'!P$92","v":6.6000000000000003E-2},{"$f":"'Sc6'!Q$92","v":6.6000000000000003E-2},{"$f":"'Sc6'!R$92","v":6.6000000000000003E-2},{"$f":"'Sc6'!S$92","v":6.6000000000000003E-2},{"$f":"'Sc6'!T$92","v":6.6000000000000003E-2}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},null,null,null,null,null,null,{"$f":"'Sc7'!J$92","v":6.3E-2},{"$f":"'Sc7'!K$92","v":6.6000000000000003E-2},{"$f":"'Sc7'!L$92","v":6.6000000000000003E-2},{"$f":"'Sc7'!M$92","v":6.6000000000000003E-2},{"$f":"'Sc7'!N$92","v":6.6000000000000003E-2},{"$f":"'Sc7'!O$92","v":6.6000000000000003E-2},{"$f":"'Sc7'!P$92","v":6.6000000000000003E-2},{"$f":"'Sc7'!Q$92","v":6.6000000000000003E-2},{"$f":"'Sc7'!R$92","v":6.6000000000000003E-2},{"$f":"'Sc7'!S$92","v":6.6000000000000003E-2},{"$f":"'Sc7'!T$92","v":6.6000000000000003E-2}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},null,null,null,null,null,null,{"$f":"'Sc8'!J$92","v":6.3E-2},{"$f":"'Sc8'!K$92","v":6.6000000000000003E-2},{"$f":"'Sc8'!L$92","v":6.6000000000000003E-2},{"$f":"'Sc8'!M$92","v":6.6000000000000003E-2},{"$f":"'Sc8'!N$92","v":6.6000000000000003E-2},{"$f":"'Sc8'!O$92","v":6.6000000000000003E-2},{"$f":"'Sc8'!P$92","v":6.6000000000000003E-2},{"$f":"'Sc8'!Q$92","v":6.6000000000000003E-2},{"$f":"'Sc8'!R$92","v":6.6000000000000003E-2},{"$f":"'Sc8'!S$92","v":6.6000000000000003E-2},{"$f":"'Sc8'!T$92","v":6.6000000000000003E-2}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},null,null,null,null,null,null,{"$f":"'Sc9'!J$92","v":5.8000000000000003E-2},{"$f":"'Sc9'!K$92","v":7.1500000000000008E-2},{"$f":"'Sc9'!L$92","v":7.1500000000000008E-2},{"$f":"'Sc9'!M$92","v":7.1500000000000008E-2},{"$f":"'Sc9'!N$92","v":7.1500000000000008E-2},{"$f":"'Sc9'!O$92","v":7.1500000000000008E-2},{"$f":"'Sc9'!P$92","v":7.1500000000000008E-2},{"$f":"'Sc9'!Q$92","v":7.1500000000000008E-2},{"$f":"'Sc9'!R$92","v":7.1500000000000008E-2},{"$f":"'Sc9'!S$92","v":7.1500000000000008E-2},{"$f":"'Sc9'!T$92","v":7.1500000000000008E-2}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},null,null,null,null,null,null,{"$f":"'Sc10'!J$92","v":0},{"$f":"'Sc10'!K$92","v":0},{"$f":"'Sc10'!L$92","v":0},{"$f":"'Sc10'!M$92","v":0},{"$f":"'Sc10'!N$92","v":0},{"$f":"'Sc10'!O$92","v":0},{"$f":"'Sc10'!P$92","v":0},{"$f":"'Sc10'!Q$92","v":0},{"$f":"'Sc10'!R$92","v":0},{"$f":"'Sc10'!S$92","v":0},{"$f":"'Sc10'!T$92","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},null,null,null,null,null,null,{"$f":"'Sc11'!J$92","v":0},{"$f":"'Sc11'!K$92","v":0},{"$f":"'Sc11'!L$92","v":0},{"$f":"'Sc11'!M$92","v":0},{"$f":"'Sc11'!N$92","v":0},{"$f":"'Sc11'!O$92","v":0},{"$f":"'Sc11'!P$92","v":0},{"$f":"'Sc11'!Q$92","v":0},{"$f":"'Sc11'!R$92","v":0},{"$f":"'Sc11'!S$92","v":0},{"$f":"'Sc11'!T$92","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},null,null,null,null,null,null,{"$f":"'Sc12'!J$92","v":0},{"$f":"'Sc12'!K$92","v":0},{"$f":"'Sc12'!L$92","v":0},{"$f":"'Sc12'!M$92","v":0},{"$f":"'Sc12'!N$92","v":0},{"$f":"'Sc12'!O$92","v":0},{"$f":"'Sc12'!P$92","v":0},{"$f":"'Sc12'!Q$92","v":0},{"$f":"'Sc12'!R$92","v":0},{"$f":"'Sc12'!S$92","v":0},{"$f":"'Sc12'!T$92","v":0}]
[]
[]
[null,{"$f":"'Sc1'!$B$179&\" shared with customers (ie, the value subtracted from costs before tariffs are set)\"","v":"   Profit/loss on asset sales shared with customers (ie, the value subtracted from costs before tariffs are set)"}]
[null,null,null,"nominal or real? ",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc1'!J$179","v":0},{"$f":"'Sc1'!K$179","v":0},{"$f":"'Sc1'!L$179","v":0},{"$f":"'Sc1'!M$179","v":0},{"$f":"'Sc1'!N$179","v":0},{"$f":"'Sc1'!O$179","v":0},{"$f":"'Sc1'!P$179","v":0},{"$f":"'Sc1'!Q$179","v":0},{"$f":"'Sc1'!R$179","v":0},{"$f":"'Sc1'!S$179","v":0},{"$f":"'Sc1'!T$179","v":0}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc2'!J$179","v":0},{"$f":"'Sc2'!K$179","v":0},{"$f":"'Sc2'!L$179","v":0},{"$f":"'Sc2'!M$179","v":0},{"$f":"'Sc2'!N$179","v":0},{"$f":"'Sc2'!O$179","v":0},{"$f":"'Sc2'!P$179","v":0},{"$f":"'Sc2'!Q$179","v":0},{"$f":"'Sc2'!R$179","v":0},{"$f":"'Sc2'!S$179","v":0},{"$f":"'Sc2'!T$179","v":0}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc3'!J$179","v":0},{"$f":"'Sc3'!K$179","v":0},{"$f":"'Sc3'!L$179","v":0},{"$f":"'Sc3'!M$179","v":0},{"$f":"'Sc3'!N$179","v":0},{"$f":"'Sc3'!O$179","v":0},{"$f":"'Sc3'!P$179","v":0},{"$f":"'Sc3'!Q$179","v":0},{"$f":"'Sc3'!R$179","v":0},{"$f":"'Sc3'!S$179","v":0},{"$f":"'Sc3'!T$179","v":0}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc4'!J$179","v":0},{"$f":"'Sc4'!K$179","v":0},{"$f":"'Sc4'!L$179","v":0},{"$f":"'Sc4'!M$179","v":0},{"$f":"'Sc4'!N$179","v":0},{"$f":"'Sc4'!O$179","v":0},{"$f":"'Sc4'!P$179","v":0},{"$f":"'Sc4'!Q$179","v":0},{"$f":"'Sc4'!R$179","v":0},{"$f":"'Sc4'!S$179","v":0},{"$f":"'Sc4'!T$179","v":0}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc5'!J$179","v":0},{"$f":"'Sc5'!K$179","v":0},{"$f":"'Sc5'!L$179","v":0},{"$f":"'Sc5'!M$179","v":0},{"$f":"'Sc5'!N$179","v":0},{"$f":"'Sc5'!O$179","v":0},{"$f":"'Sc5'!P$179","v":0},{"$f":"'Sc5'!Q$179","v":0},{"$f":"'Sc5'!R$179","v":0},{"$f":"'Sc5'!S$179","v":0},{"$f":"'Sc5'!T$179","v":0}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc6'!J$179","v":0},{"$f":"'Sc6'!K$179","v":0},{"$f":"'Sc6'!L$179","v":0},{"$f":"'Sc6'!M$179","v":0},{"$f":"'Sc6'!N$179","v":0},{"$f":"'Sc6'!O$179","v":0},{"$f":"'Sc6'!P$179","v":0},{"$f":"'Sc6'!Q$179","v":0},{"$f":"'Sc6'!R$179","v":0},{"$f":"'Sc6'!S$179","v":0},{"$f":"'Sc6'!T$179","v":0}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc7'!J$179","v":0},{"$f":"'Sc7'!K$179","v":0},{"$f":"'Sc7'!L$179","v":0},{"$f":"'Sc7'!M$179","v":0},{"$f":"'Sc7'!N$179","v":0},{"$f":"'Sc7'!O$179","v":0},{"$f":"'Sc7'!P$179","v":0},{"$f":"'Sc7'!Q$179","v":0},{"$f":"'Sc7'!R$179","v":0},{"$f":"'Sc7'!S$179","v":0},{"$f":"'Sc7'!T$179","v":0}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc8'!J$179","v":0},{"$f":"'Sc8'!K$179","v":0},{"$f":"'Sc8'!L$179","v":0},{"$f":"'Sc8'!M$179","v":0},{"$f":"'Sc8'!N$179","v":0},{"$f":"'Sc8'!O$179","v":0},{"$f":"'Sc8'!P$179","v":0},{"$f":"'Sc8'!Q$179","v":0},{"$f":"'Sc8'!R$179","v":0},{"$f":"'Sc8'!S$179","v":0},{"$f":"'Sc8'!T$179","v":0}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc9'!J$179","v":0},{"$f":"'Sc9'!K$179","v":0},{"$f":"'Sc9'!L$179","v":0},{"$f":"'Sc9'!M$179","v":0},{"$f":"'Sc9'!N$179","v":0},{"$f":"'Sc9'!O$179","v":0},{"$f":"'Sc9'!P$179","v":0},{"$f":"'Sc9'!Q$179","v":0},{"$f":"'Sc9'!R$179","v":0},{"$f":"'Sc9'!S$179","v":0},{"$f":"'Sc9'!T$179","v":0}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!K$169","v":0},null,null,null,null,null,{"$f":"'Sc10'!J$179","v":0},{"$f":"'Sc10'!K$179","v":0},{"$f":"'Sc10'!L$179","v":0},{"$f":"'Sc10'!M$179","v":0},{"$f":"'Sc10'!N$179","v":0},{"$f":"'Sc10'!O$179","v":0},{"$f":"'Sc10'!P$179","v":0},{"$f":"'Sc10'!Q$179","v":0},{"$f":"'Sc10'!R$179","v":0},{"$f":"'Sc10'!S$179","v":0},{"$f":"'Sc10'!T$179","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!K$169","v":0},null,null,null,null,null,{"$f":"'Sc11'!J$179","v":0},{"$f":"'Sc11'!K$179","v":0},{"$f":"'Sc11'!L$179","v":0},{"$f":"'Sc11'!M$179","v":0},{"$f":"'Sc11'!N$179","v":0},{"$f":"'Sc11'!O$179","v":0},{"$f":"'Sc11'!P$179","v":0},{"$f":"'Sc11'!Q$179","v":0},{"$f":"'Sc11'!R$179","v":0},{"$f":"'Sc11'!S$179","v":0},{"$f":"'Sc11'!T$179","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!K$169","v":0},null,null,null,null,null,{"$f":"'Sc12'!J$179","v":0},{"$f":"'Sc12'!K$179","v":0},{"$f":"'Sc12'!L$179","v":0},{"$f":"'Sc12'!M$179","v":0},{"$f":"'Sc12'!N$179","v":0},{"$f":"'Sc12'!O$179","v":0},{"$f":"'Sc12'!P$179","v":0},{"$f":"'Sc12'!Q$179","v":0},{"$f":"'Sc12'!R$179","v":0},{"$f":"'Sc12'!S$179","v":0},{"$f":"'Sc12'!T$179","v":0}]
[]
[]
[null,{"$f":"'Sc1'!$B$180&\" shared with customers (ie, the value subtracted from costs before tariffs are set)\"","v":"   Other regulatory revenue shared with customers (ie, the value subtracted from costs before tariffs are set)"}]
[null,null,null,"nominal or real? ",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc1'!J$180","v":1000},{"$f":"'Sc1'!K$180","v":1000},{"$f":"'Sc1'!L$180","v":1000},{"$f":"'Sc1'!M$180","v":1000},{"$f":"'Sc1'!N$180","v":1000},{"$f":"'Sc1'!O$180","v":1000},{"$f":"'Sc1'!P$180","v":1000},{"$f":"'Sc1'!Q$180","v":1000},{"$f":"'Sc1'!R$180","v":1000},{"$f":"'Sc1'!S$180","v":1000},{"$f":"'Sc1'!T$180","v":1000}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc2'!J$180","v":1000},{"$f":"'Sc2'!K$180","v":1000},{"$f":"'Sc2'!L$180","v":1000},{"$f":"'Sc2'!M$180","v":1000},{"$f":"'Sc2'!N$180","v":1000},{"$f":"'Sc2'!O$180","v":1000},{"$f":"'Sc2'!P$180","v":1000},{"$f":"'Sc2'!Q$180","v":1000},{"$f":"'Sc2'!R$180","v":1000},{"$f":"'Sc2'!S$180","v":1000},{"$f":"'Sc2'!T$180","v":1000}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc3'!J$180","v":1000},{"$f":"'Sc3'!K$180","v":1000},{"$f":"'Sc3'!L$180","v":1000},{"$f":"'Sc3'!M$180","v":1000},{"$f":"'Sc3'!N$180","v":1000},{"$f":"'Sc3'!O$180","v":1000},{"$f":"'Sc3'!P$180","v":1000},{"$f":"'Sc3'!Q$180","v":1000},{"$f":"'Sc3'!R$180","v":1000},{"$f":"'Sc3'!S$180","v":1000},{"$f":"'Sc3'!T$180","v":1000}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc4'!J$180","v":1000},{"$f":"'Sc4'!K$180","v":1000},{"$f":"'Sc4'!L$180","v":1000},{"$f":"'Sc4'!M$180","v":1000},{"$f":"'Sc4'!N$180","v":1000},{"$f":"'Sc4'!O$180","v":1000},{"$f":"'Sc4'!P$180","v":1000},{"$f":"'Sc4'!Q$180","v":1000},{"$f":"'Sc4'!R$180","v":1000},{"$f":"'Sc4'!S$180","v":1000},{"$f":"'Sc4'!T$180","v":1000}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc5'!J$180","v":1000},{"$f":"'Sc5'!K$180","v":1000},{"$f":"'Sc5'!L$180","v":1000},{"$f":"'Sc5'!M$180","v":1000},{"$f":"'Sc5'!N$180","v":1000},{"$f":"'Sc5'!O$180","v":1000},{"$f":"'Sc5'!P$180","v":1000},{"$f":"'Sc5'!Q$180","v":1000},{"$f":"'Sc5'!R$180","v":1000},{"$f":"'Sc5'!S$180","v":1000},{"$f":"'Sc5'!T$180","v":1000}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc6'!J$180","v":1000},{"$f":"'Sc6'!K$180","v":1000},{"$f":"'Sc6'!L$180","v":1000},{"$f":"'Sc6'!M$180","v":1000},{"$f":"'Sc6'!N$180","v":1000},{"$f":"'Sc6'!O$180","v":1000},{"$f":"'Sc6'!P$180","v":1000},{"$f":"'Sc6'!Q$180","v":1000},{"$f":"'Sc6'!R$180","v":1000},{"$f":"'Sc6'!S$180","v":1000},{"$f":"'Sc6'!T$180","v":1000}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc7'!J$180","v":1000},{"$f":"'Sc7'!K$180","v":1000},{"$f":"'Sc7'!L$180","v":1000},{"$f":"'Sc7'!M$180","v":1000},{"$f":"'Sc7'!N$180","v":1000},{"$f":"'Sc7'!O$180","v":1000},{"$f":"'Sc7'!P$180","v":1000},{"$f":"'Sc7'!Q$180","v":1000},{"$f":"'Sc7'!R$180","v":1000},{"$f":"'Sc7'!S$180","v":1000},{"$f":"'Sc7'!T$180","v":1000}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc8'!J$180","v":1000},{"$f":"'Sc8'!K$180","v":1000},{"$f":"'Sc8'!L$180","v":1000},{"$f":"'Sc8'!M$180","v":1000},{"$f":"'Sc8'!N$180","v":1000},{"$f":"'Sc8'!O$180","v":1000},{"$f":"'Sc8'!P$180","v":1000},{"$f":"'Sc8'!Q$180","v":1000},{"$f":"'Sc8'!R$180","v":1000},{"$f":"'Sc8'!S$180","v":1000},{"$f":"'Sc8'!T$180","v":1000}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc9'!J$180","v":1000},{"$f":"'Sc9'!K$180","v":1000},{"$f":"'Sc9'!L$180","v":1000},{"$f":"'Sc9'!M$180","v":1000},{"$f":"'Sc9'!N$180","v":1000},{"$f":"'Sc9'!O$180","v":1000},{"$f":"'Sc9'!P$180","v":1000},{"$f":"'Sc9'!Q$180","v":1000},{"$f":"'Sc9'!R$180","v":1000},{"$f":"'Sc9'!S$180","v":1000},{"$f":"'Sc9'!T$180","v":1000}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!K$169","v":0},null,null,null,null,null,{"$f":"'Sc10'!J$180","v":0},{"$f":"'Sc10'!K$180","v":0},{"$f":"'Sc10'!L$180","v":0},{"$f":"'Sc10'!M$180","v":0},{"$f":"'Sc10'!N$180","v":0},{"$f":"'Sc10'!O$180","v":0},{"$f":"'Sc10'!P$180","v":0},{"$f":"'Sc10'!Q$180","v":0},{"$f":"'Sc10'!R$180","v":0},{"$f":"'Sc10'!S$180","v":0},{"$f":"'Sc10'!T$180","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!K$169","v":0},null,null,null,null,null,{"$f":"'Sc11'!J$180","v":0},{"$f":"'Sc11'!K$180","v":0},{"$f":"'Sc11'!L$180","v":0},{"$f":"'Sc11'!M$180","v":0},{"$f":"'Sc11'!N$180","v":0},{"$f":"'Sc11'!O$180","v":0},{"$f":"'Sc11'!P$180","v":0},{"$f":"'Sc11'!Q$180","v":0},{"$f":"'Sc11'!R$180","v":0},{"$f":"'Sc11'!S$180","v":0},{"$f":"'Sc11'!T$180","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!K$169","v":0},null,null,null,null,null,{"$f":"'Sc12'!J$180","v":0},{"$f":"'Sc12'!K$180","v":0},{"$f":"'Sc12'!L$180","v":0},{"$f":"'Sc12'!M$180","v":0},{"$f":"'Sc12'!N$180","v":0},{"$f":"'Sc12'!O$180","v":0},{"$f":"'Sc12'!P$180","v":0},{"$f":"'Sc12'!Q$180","v":0},{"$f":"'Sc12'!R$180","v":0},{"$f":"'Sc12'!S$180","v":0},{"$f":"'Sc12'!T$180","v":0}]
[]
[]
[]
[null,"TARIFFS"]
[null,"unhide rows to see table contents"]
[]
[null,{"$f":"'Sc1'!B$125","v":"Access charge"}]
[null,null,null,"nominal or real?",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!C$127&\" - \"&'Sc1'!$K$220","v":"$/year - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc1'!J$127","v":90},{"$f":"'Sc1'!K$127","v":90.89772509341239},{"$f":"'Sc1'!L$127","v":91.80440474619526},{"$f":"'Sc1'!M$127","v":92.720128277600224},{"$f":"'Sc1'!N$127","v":93.644985897813754},{"$f":"'Sc1'!O$127","v":95.235521444305448},{"$f":"'Sc1'!P$127","v":96.853071820266109},{"$f":"'Sc1'!Q$127","v":98.49809586549523},{"$f":"'Sc1'!R$127","v":100.17106021306607},{"$f":"'Sc1'!S$127","v":101.87243942169235},{"$f":"'Sc1'!T$127","v":103.60271611034318}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!C$127&\" - \"&'Sc2'!$K$220","v":"$/year - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc2'!J$127","v":90},{"$f":"'Sc2'!K$127","v":90.522578972260078},{"$f":"'Sc2'!L$127","v":91.048192264322921},{"$f":"'Sc2'!M$127","v":91.576857494763232},{"$f":"'Sc2'!N$127","v":92.108592384456799},{"$f":"'Sc2'!O$127","v":93.673032689724792},{"$f":"'Sc2'!P$127","v":95.264044603627639},{"$f":"'Sc2'!Q$127","v":96.882079437975108},{"$f":"'Sc2'!R$127","v":98.527596169989792},{"$f":"'Sc2'!S$127","v":100.20106157250213},{"$f":"'Sc2'!T$127","v":101.90295034635679}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!C$127&\" - \"&'Sc3'!$K$220","v":"$/year - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc3'!J$127","v":90},{"$f":"'Sc3'!K$127","v":90.496770344067912},{"$f":"'Sc3'!L$127","v":90.996282696744103},{"$f":"'Sc3'!M$127","v":91.498552193012571},{"$f":"'Sc3'!N$127","v":92.003594051397442},{"$f":"'Sc3'!O$127","v":93.566250987492467},{"$f":"'Sc3'!P$127","v":95.155449242164252},{"$f":"'Sc3'!Q$127","v":96.771639612753887},{"$f":"'Sc3'!R$127","v":98.415280553277128},{"$f":"'Sc3'!S$127","v":100.08683830447109},{"$f":"'Sc3'!T$127","v":101.78678702604961}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!C$127&\" - \"&'Sc4'!$K$220","v":"$/year - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc4'!J$127","v":90},{"$f":"'Sc4'!K$127","v":91.523795923800037},{"$f":"'Sc4'!L$127","v":93.073391336682178},{"$f":"'Sc4'!M$127","v":94.649223051494189},{"$f":"'Sc4'!N$127","v":96.251735276790939},{"$f":"'Sc4'!O$127","v":97.88654577840498},{"$f":"'Sc4'!P$127","v":99.54912310799881},{"$f":"'Sc4'!Q$127","v":101.23993887786958},{"$f":"'Sc4'!R$127","v":102.95947271052572},{"$f":"'Sc4'!S$127","v":104.70821237473827},{"$f":"'Sc4'!T$127","v":106.48665392390305}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!C$127&\" - \"&'Sc5'!$K$220","v":"$/year - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc5'!J$127","v":90},{"$f":"'Sc5'!K$127","v":92.32337790290498},{"$f":"'Sc5'!L$127","v":94.706734526695598},{"$f":"'Sc5'!M$127","v":97.151618240646854},{"$f":"'Sc5'!N$127","v":99.659617385666621},{"$f":"'Sc5'!O$127","v":101.35230987188936},{"$f":"'Sc5'!P$127","v":103.07375229643293},{"$f":"'Sc5'!Q$127","v":104.82443296946599},{"$f":"'Sc5'!R$127","v":106.60484849497747},{"$f":"'Sc5'!S$127","v":108.41550391164492},{"$f":"'Sc5'!T$127","v":110.25691283609547}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!C$127&\" - \"&'Sc6'!$K$220","v":"$/year - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc6'!J$127","v":90},{"$f":"'Sc6'!K$127","v":125.04251022724694},{"$f":"'Sc6'!L$127","v":129.52122669864968},{"$f":"'Sc6'!M$127","v":127.22497889346035},{"$f":"'Sc6'!N$127","v":127.98214530784713},{"$f":"'Sc6'!O$127","v":129.22513134958893},{"$f":"'Sc6'!P$127","v":125.45450627802495},{"$f":"'Sc6'!Q$127","v":119.40156434461129},{"$f":"'Sc6'!R$127","v":114.54365777730149},{"$f":"'Sc6'!S$127","v":106.74589072795402},{"$f":"'Sc6'!T$127","v":99.235404456533601}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!C$127&\" - \"&'Sc7'!$K$220","v":"$/year - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc7'!J$127","v":90},{"$f":"'Sc7'!K$127","v":90.920999554012127},{"$f":"'Sc7'!L$127","v":95.564674815127603},{"$f":"'Sc7'!M$127","v":93.117510769598809},{"$f":"'Sc7'!N$127","v":93.718607239741772},{"$f":"'Sc7'!O$127","v":94.75578599309334},{"$f":"'Sc7'!P$127","v":90.792891436112242},{"$f":"'Sc7'!Q$127","v":84.560750820196972},{"$f":"'Sc7'!R$127","v":79.537739617003893},{"$f":"'Sc7'!S$127","v":71.587005217146483},{"$f":"'Sc7'!T$127","v":63.877807312386878}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!C$127&\" - \"&'Sc8'!$K$220","v":"$/year - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc8'!J$127","v":90},{"$f":"'Sc8'!K$127","v":90.920999554012127},{"$f":"'Sc8'!L$127","v":95.564674815127603},{"$f":"'Sc8'!M$127","v":93.117510769598809},{"$f":"'Sc8'!N$127","v":93.718607239741772},{"$f":"'Sc8'!O$127","v":94.75578599309334},{"$f":"'Sc8'!P$127","v":90.792891436112242},{"$f":"'Sc8'!Q$127","v":84.560750820196972},{"$f":"'Sc8'!R$127","v":79.537739617003893},{"$f":"'Sc8'!S$127","v":71.587005217146483},{"$f":"'Sc8'!T$127","v":63.877807312386878}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!C$127&\" - \"&'Sc9'!$K$220","v":"$/year - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc9'!J$127","v":90},{"$f":"'Sc9'!K$127","v":90.920999554012127},{"$f":"'Sc9'!L$127","v":95.564674815127603},{"$f":"'Sc9'!M$127","v":93.117510769598809},{"$f":"'Sc9'!N$127","v":93.718607239741772},{"$f":"'Sc9'!O$127","v":94.75578599309334},{"$f":"'Sc9'!P$127","v":90.792891436112242},{"$f":"'Sc9'!Q$127","v":84.560750820196972},{"$f":"'Sc9'!R$127","v":79.537739617003893},{"$f":"'Sc9'!S$127","v":71.587005217146483},{"$f":"'Sc9'!T$127","v":63.877807312386878}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!C$127&\" - \"&'Sc10'!$K$220","v":" - "},null,null,null,null,null,{"$f":"'Sc10'!J$127","v":0},{"$f":"'Sc10'!K$127","v":0},{"$f":"'Sc10'!L$127","v":0},{"$f":"'Sc10'!M$127","v":0},{"$f":"'Sc10'!N$127","v":0},{"$f":"'Sc10'!O$127","v":0},{"$f":"'Sc10'!P$127","v":0},{"$f":"'Sc10'!Q$127","v":0},{"$f":"'Sc10'!R$127","v":0},{"$f":"'Sc10'!S$127","v":0},{"$f":"'Sc10'!T$127","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!C$127&\" - \"&'Sc11'!$K$220","v":" - "},null,null,null,null,null,{"$f":"'Sc11'!J$127","v":0},{"$f":"'Sc11'!K$127","v":0},{"$f":"'Sc11'!L$127","v":0},{"$f":"'Sc11'!M$127","v":0},{"$f":"'Sc11'!N$127","v":0},{"$f":"'Sc11'!O$127","v":0},{"$f":"'Sc11'!P$127","v":0},{"$f":"'Sc11'!Q$127","v":0},{"$f":"'Sc11'!R$127","v":0},{"$f":"'Sc11'!S$127","v":0},{"$f":"'Sc11'!T$127","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!C$127&\" - \"&'Sc12'!$K$220","v":" - "},null,null,null,null,null,{"$f":"'Sc12'!J$127","v":0},{"$f":"'Sc12'!K$127","v":0},{"$f":"'Sc12'!L$127","v":0},{"$f":"'Sc12'!M$127","v":0},{"$f":"'Sc12'!N$127","v":0},{"$f":"'Sc12'!O$127","v":0},{"$f":"'Sc12'!P$127","v":0},{"$f":"'Sc12'!Q$127","v":0},{"$f":"'Sc12'!R$127","v":0},{"$f":"'Sc12'!S$127","v":0},{"$f":"'Sc12'!T$127","v":0}]
[]
[]
[null,{"$f":"'Sc1'!B$129","v":"Usage charge for Tier 1 consumption"}]
[null,null,null,"nominal or real?",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!C$129&\" - \"&'Sc1'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc1'!J$129","v":2},{"$f":"'Sc1'!K$129","v":2.0199494465202754},{"$f":"'Sc1'!L$129","v":2.0400978832487837},{"$f":"'Sc1'!M$129","v":2.060447295057783},{"$f":"'Sc1'!N$129","v":2.0809996866180835},{"$f":"'Sc1'!O$129","v":2.1163449209845657},{"$f":"'Sc1'!P$129","v":2.1522904848948028},{"$f":"'Sc1'!Q$129","v":2.1888465747887835},{"$f":"'Sc1'!R$129","v":2.2260235602903578},{"$f":"'Sc1'!S$129","v":2.2638319871487194},{"$f":"'Sc1'!T$129","v":2.302282580229849}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!C$129&\" - \"&'Sc2'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc2'!J$129","v":2},{"$f":"'Sc2'!K$129","v":2.0116128660502239},{"$f":"'Sc2'!L$129","v":2.0232931614293981},{"$f":"'Sc2'!M$129","v":2.0350412776614051},{"$f":"'Sc2'!N$129","v":2.0468576085434842},{"$f":"'Sc2'!O$129","v":2.0816229486605509},{"$f":"'Sc2'!P$129","v":2.1169787689695028},{"$f":"'Sc2'!Q$129","v":2.1529350986216684},{"$f":"'Sc2'!R$129","v":2.1895021371108836},{"$f":"'Sc2'!S$129","v":2.2266902571667133},{"$f":"'Sc2'!T$129","v":2.264510007696817}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!C$129&\" - \"&'Sc3'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc3'!J$129","v":2},{"$f":"'Sc3'!K$129","v":2.0110393409792868},{"$f":"'Sc3'!L$129","v":2.0221396154832023},{"$f":"'Sc3'!M$129","v":2.0333011598447239},{"$f":"'Sc3'!N$129","v":2.0445243122532766},{"$f":"'Sc3'!O$129","v":2.0792500219442771},{"$f":"'Sc3'!P$129","v":2.1145655387147615},{"$f":"'Sc3'!Q$129","v":2.1504808802834199},{"$f":"'Sc3'!R$129","v":2.1870062345172698},{"$f":"'Sc3'!S$129","v":2.2241519623215802},{"$f":"'Sc3'!T$129","v":2.2619286005788806}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!C$129&\" - \"&'Sc4'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc4'!J$129","v":2},{"$f":"'Sc4'!K$129","v":2.0338621316400007},{"$f":"'Sc4'!L$129","v":2.0682975852596037},{"$f":"'Sc4'!M$129","v":2.1033160678109817},{"$f":"'Sc4'!N$129","v":2.1389274505953537},{"$f":"'Sc4'!O$129","v":2.1752565728534434},{"$f":"'Sc4'!P$129","v":2.2122027357333063},{"$f":"'Sc4'!Q$129","v":2.2497764195082124},{"$f":"'Sc4'!R$129","v":2.2879882824561264},{"$f":"'Sc4'!S$129","v":2.3268491638830722},{"$f":"'Sc4'!T$129","v":2.3663700871978453}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!C$129&\" - \"&'Sc5'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc5'!J$129","v":2},{"$f":"'Sc5'!K$129","v":2.0516306200645551},{"$f":"'Sc5'!L$129","v":2.1045941005932356},{"$f":"'Sc5'!M$129","v":2.1589248497921525},{"$f":"'Sc5'!N$129","v":2.2146581641259253},{"$f":"'Sc5'!O$129","v":2.2522735527086528},{"$f":"'Sc5'!P$129","v":2.2905278288096209},{"$f":"'Sc5'!Q$129","v":2.3294318437659114},{"$f":"'Sc5'!R$129","v":2.3689966332217223},{"$f":"'Sc5'!S$129","v":2.4092334202587766},{"$f":"'Sc5'!T$129","v":2.4501536185799}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!C$129&\" - \"&'Sc6'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc6'!J$129","v":2},{"$f":"'Sc6'!K$129","v":2},{"$f":"'Sc6'!L$129","v":2},{"$f":"'Sc6'!M$129","v":2},{"$f":"'Sc6'!N$129","v":2},{"$f":"'Sc6'!O$129","v":2},{"$f":"'Sc6'!P$129","v":2},{"$f":"'Sc6'!Q$129","v":2},{"$f":"'Sc6'!R$129","v":2},{"$f":"'Sc6'!S$129","v":2},{"$f":"'Sc6'!T$129","v":2}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!C$129&\" - \"&'Sc7'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc7'!J$129","v":2},{"$f":"'Sc7'!K$129","v":2.14},{"$f":"'Sc7'!L$129","v":2.14},{"$f":"'Sc7'!M$129","v":2.14},{"$f":"'Sc7'!N$129","v":2.14},{"$f":"'Sc7'!O$129","v":2.14},{"$f":"'Sc7'!P$129","v":2.14},{"$f":"'Sc7'!Q$129","v":2.14},{"$f":"'Sc7'!R$129","v":2.14},{"$f":"'Sc7'!S$129","v":2.14},{"$f":"'Sc7'!T$129","v":2.14}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!C$129&\" - \"&'Sc8'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc8'!J$129","v":2},{"$f":"'Sc8'!K$129","v":2.14},{"$f":"'Sc8'!L$129","v":2.14},{"$f":"'Sc8'!M$129","v":2.14},{"$f":"'Sc8'!N$129","v":2.14},{"$f":"'Sc8'!O$129","v":2.14},{"$f":"'Sc8'!P$129","v":2.14},{"$f":"'Sc8'!Q$129","v":2.14},{"$f":"'Sc8'!R$129","v":2.14},{"$f":"'Sc8'!S$129","v":2.14},{"$f":"'Sc8'!T$129","v":2.14}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!C$129&\" - \"&'Sc9'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc9'!J$129","v":2},{"$f":"'Sc9'!K$129","v":2.14},{"$f":"'Sc9'!L$129","v":2.14},{"$f":"'Sc9'!M$129","v":2.14},{"$f":"'Sc9'!N$129","v":2.14},{"$f":"'Sc9'!O$129","v":2.14},{"$f":"'Sc9'!P$129","v":2.14},{"$f":"'Sc9'!Q$129","v":2.14},{"$f":"'Sc9'!R$129","v":2.14},{"$f":"'Sc9'!S$129","v":2.14},{"$f":"'Sc9'!T$129","v":2.14}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!C$129&\" - \"&'Sc10'!$K$220","v":" - "},null,null,null,null,null,{"$f":"'Sc10'!J$129","v":0},{"$f":"'Sc10'!K$129","v":0},{"$f":"'Sc10'!L$129","v":0},{"$f":"'Sc10'!M$129","v":0},{"$f":"'Sc10'!N$129","v":0},{"$f":"'Sc10'!O$129","v":0},{"$f":"'Sc10'!P$129","v":0},{"$f":"'Sc10'!Q$129","v":0},{"$f":"'Sc10'!R$129","v":0},{"$f":"'Sc10'!S$129","v":0},{"$f":"'Sc10'!T$129","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!C$129&\" - \"&'Sc11'!$K$220","v":" - "},null,null,null,null,null,{"$f":"'Sc11'!J$129","v":0},{"$f":"'Sc11'!K$129","v":0},{"$f":"'Sc11'!L$129","v":0},{"$f":"'Sc11'!M$129","v":0},{"$f":"'Sc11'!N$129","v":0},{"$f":"'Sc11'!O$129","v":0},{"$f":"'Sc11'!P$129","v":0},{"$f":"'Sc11'!Q$129","v":0},{"$f":"'Sc11'!R$129","v":0},{"$f":"'Sc11'!S$129","v":0},{"$f":"'Sc11'!T$129","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!C$129&\" - \"&'Sc12'!$K$220","v":" - "},null,null,null,null,null,{"$f":"'Sc12'!J$129","v":0},{"$f":"'Sc12'!K$129","v":0},{"$f":"'Sc12'!L$129","v":0},{"$f":"'Sc12'!M$129","v":0},{"$f":"'Sc12'!N$129","v":0},{"$f":"'Sc12'!O$129","v":0},{"$f":"'Sc12'!P$129","v":0},{"$f":"'Sc12'!Q$129","v":0},{"$f":"'Sc12'!R$129","v":0},{"$f":"'Sc12'!S$129","v":0},{"$f":"'Sc12'!T$129","v":0}]
[]
[]
[null,{"$f":"'Sc1'!B$130","v":"Usage charge for Tier 2 consumption"}]
[null,null,null,"nominal or real?",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!C$130&\" - \"&'Sc1'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc1'!J$130","v":2.5},{"$f":"'Sc1'!K$130","v":2.5249368081503443},{"$f":"'Sc1'!L$130","v":2.5501223540609792},{"$f":"'Sc1'!M$130","v":2.5755591188222282},{"$f":"'Sc1'!N$130","v":2.601249608272604},{"$f":"'Sc1'!O$130","v":2.6454311512307065},{"$f":"'Sc1'!P$130","v":2.6903631061185025},{"$f":"'Sc1'!Q$130","v":2.7360582184859781},{"$f":"'Sc1'!R$130","v":2.7825294503629459},{"$f":"'Sc1'!S$130","v":2.829789983935898},{"$f":"'Sc1'!T$130","v":2.8778532252873101}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!C$130&\" - \"&'Sc2'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc2'!J$130","v":2.5},{"$f":"'Sc2'!K$130","v":2.5145160825627801},{"$f":"'Sc2'!L$130","v":2.5291164517867477},{"$f":"'Sc2'!M$130","v":2.5438015970767562},{"$f":"'Sc2'!N$130","v":2.5585720106793555},{"$f":"'Sc2'!O$130","v":2.6020286858256885},{"$f":"'Sc2'!P$130","v":2.6462234612118785},{"$f":"'Sc2'!Q$130","v":2.691168873277086},{"$f":"'Sc2'!R$130","v":2.7368776713886049},{"$f":"'Sc2'!S$130","v":2.7833628214583923},{"$f":"'Sc2'!T$130","v":2.8306375096210217}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!C$130&\" - \"&'Sc3'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc3'!J$130","v":2.5},{"$f":"'Sc3'!K$130","v":2.5137991762241088},{"$f":"'Sc3'!L$130","v":2.5276745193540031},{"$f":"'Sc3'!M$130","v":2.5416264498059049},{"$f":"'Sc3'!N$130","v":2.5556553903165957},{"$f":"'Sc3'!O$130","v":2.5990625274303465},{"$f":"'Sc3'!P$130","v":2.6432069233934516},{"$f":"'Sc3'!Q$130","v":2.6881011003542747},{"$f":"'Sc3'!R$130","v":2.7337577931465873},{"$f":"'Sc3'!S$130","v":2.7801899529019751},{"$f":"'Sc3'!T$130","v":2.8274107507236006}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!C$130&\" - \"&'Sc4'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc4'!J$130","v":2.5},{"$f":"'Sc4'!K$130","v":2.542327664550001},{"$f":"'Sc4'!L$130","v":2.5853719815745051},{"$f":"'Sc4'!M$130","v":2.6291450847637279},{"$f":"'Sc4'!N$130","v":2.673659313244193},{"$f":"'Sc4'!O$130","v":2.7190707160668053},{"$f":"'Sc4'!P$130","v":2.7652534196666338},{"$f":"'Sc4'!Q$130","v":2.8122205243852663},{"$f":"'Sc4'!R$130","v":2.8599853530701589},{"$f":"'Sc4'!S$130","v":2.908561454853841},{"$f":"'Sc4'!T$130","v":2.9579626089973075}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!C$130&\" - \"&'Sc5'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc5'!J$130","v":2.5},{"$f":"'Sc5'!K$130","v":2.564538275080694},{"$f":"'Sc5'!L$130","v":2.6307426257415445},{"$f":"'Sc5'!M$130","v":2.6986560622401905},{"$f":"'Sc5'!N$130","v":2.7683227051574062},{"$f":"'Sc5'!O$130","v":2.8153419408858156},{"$f":"'Sc5'!P$130","v":2.8631597860120257},{"$f":"'Sc5'!Q$130","v":2.9117898047073885},{"$f":"'Sc5'!R$130","v":2.9612457915271517},{"$f":"'Sc5'!S$130","v":3.0115417753234697},{"$f":"'Sc5'!T$130","v":3.0626920232248738}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!C$130&\" - \"&'Sc6'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc6'!J$130","v":2.5},{"$f":"'Sc6'!K$130","v":2.5},{"$f":"'Sc6'!L$130","v":2.5},{"$f":"'Sc6'!M$130","v":2.5},{"$f":"'Sc6'!N$130","v":2.5},{"$f":"'Sc6'!O$130","v":2.5},{"$f":"'Sc6'!P$130","v":2.5},{"$f":"'Sc6'!Q$130","v":2.5},{"$f":"'Sc6'!R$130","v":2.5},{"$f":"'Sc6'!S$130","v":2.5},{"$f":"'Sc6'!T$130","v":2.5}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!C$130&\" - \"&'Sc7'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc7'!J$130","v":2.5},{"$f":"'Sc7'!K$130","v":2.6750000000000003},{"$f":"'Sc7'!L$130","v":2.6750000000000003},{"$f":"'Sc7'!M$130","v":2.6750000000000003},{"$f":"'Sc7'!N$130","v":2.6750000000000003},{"$f":"'Sc7'!O$130","v":2.6750000000000003},{"$f":"'Sc7'!P$130","v":2.6750000000000003},{"$f":"'Sc7'!Q$130","v":2.6750000000000003},{"$f":"'Sc7'!R$130","v":2.6750000000000003},{"$f":"'Sc7'!S$130","v":2.6750000000000003},{"$f":"'Sc7'!T$130","v":2.6750000000000003}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!C$130&\" - \"&'Sc8'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc8'!J$130","v":2.5},{"$f":"'Sc8'!K$130","v":2.6750000000000003},{"$f":"'Sc8'!L$130","v":2.6750000000000003},{"$f":"'Sc8'!M$130","v":2.6750000000000003},{"$f":"'Sc8'!N$130","v":2.6750000000000003},{"$f":"'Sc8'!O$130","v":2.6750000000000003},{"$f":"'Sc8'!P$130","v":2.6750000000000003},{"$f":"'Sc8'!Q$130","v":2.6750000000000003},{"$f":"'Sc8'!R$130","v":2.6750000000000003},{"$f":"'Sc8'!S$130","v":2.6750000000000003},{"$f":"'Sc8'!T$130","v":2.6750000000000003}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!C$130&\" - \"&'Sc9'!$K$220","v":"$/kL - real 2015-16 prices"},null,null,null,null,null,{"$f":"'Sc9'!J$130","v":2.5},{"$f":"'Sc9'!K$130","v":2.6750000000000003},{"$f":"'Sc9'!L$130","v":2.6750000000000003},{"$f":"'Sc9'!M$130","v":2.6750000000000003},{"$f":"'Sc9'!N$130","v":2.6750000000000003},{"$f":"'Sc9'!O$130","v":2.6750000000000003},{"$f":"'Sc9'!P$130","v":2.6750000000000003},{"$f":"'Sc9'!Q$130","v":2.6750000000000003},{"$f":"'Sc9'!R$130","v":2.6750000000000003},{"$f":"'Sc9'!S$130","v":2.6750000000000003},{"$f":"'Sc9'!T$130","v":2.6750000000000003}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!C$130&\" - \"&'Sc10'!$K$220","v":" - "},null,null,null,null,null,{"$f":"'Sc10'!J$130","v":0},{"$f":"'Sc10'!K$130","v":0},{"$f":"'Sc10'!L$130","v":0},{"$f":"'Sc10'!M$130","v":0},{"$f":"'Sc10'!N$130","v":0},{"$f":"'Sc10'!O$130","v":0},{"$f":"'Sc10'!P$130","v":0},{"$f":"'Sc10'!Q$130","v":0},{"$f":"'Sc10'!R$130","v":0},{"$f":"'Sc10'!S$130","v":0},{"$f":"'Sc10'!T$130","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!C$130&\" - \"&'Sc11'!$K$220","v":" - "},null,null,null,null,null,{"$f":"'Sc11'!J$130","v":0},{"$f":"'Sc11'!K$130","v":0},{"$f":"'Sc11'!L$130","v":0},{"$f":"'Sc11'!M$130","v":0},{"$f":"'Sc11'!N$130","v":0},{"$f":"'Sc11'!O$130","v":0},{"$f":"'Sc11'!P$130","v":0},{"$f":"'Sc11'!Q$130","v":0},{"$f":"'Sc11'!R$130","v":0},{"$f":"'Sc11'!S$130","v":0},{"$f":"'Sc11'!T$130","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!C$130&\" - \"&'Sc12'!$K$220","v":" - "},null,null,null,null,null,{"$f":"'Sc12'!J$130","v":0},{"$f":"'Sc12'!K$130","v":0},{"$f":"'Sc12'!L$130","v":0},{"$f":"'Sc12'!M$130","v":0},{"$f":"'Sc12'!N$130","v":0},{"$f":"'Sc12'!O$130","v":0},{"$f":"'Sc12'!P$130","v":0},{"$f":"'Sc12'!Q$130","v":0},{"$f":"'Sc12'!R$130","v":0},{"$f":"'Sc12'!S$130","v":0},{"$f":"'Sc12'!T$130","v":0}]
[]
[]
[null,"RAB AND WORKING CAPITAL"]
[null,"unhide rows to see table contents"]
[]
[null,"TABLE 1 - Closing value of RAB"]
[null,null,null,"forecasts nominal or real?*",null,null,{"$f":"'Sc1'!G$57","v":"2012-13"},{"$f":"'Sc1'!H$57","v":"2013-14"},{"$f":"'Sc1'!I$57","v":"2014-15"},{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!$K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc1'!G$160","v":716536.01441951236},{"$f":"'Sc1'!H$160","v":736422.76472955162},{"$f":"'Sc1'!I$160","v":761673.16400960088},{"$f":"'Sc1'!J$160","v":824648.61437947711},{"$f":"'Sc1'!K$160","v":860299.7377928549},{"$f":"'Sc1'!L$160","v":861792.83928828605},{"$f":"'Sc1'!M$160","v":908621.66886577022},{"$f":"'Sc1'!N$160","v":933600.72652530787},{"$f":"'Sc1'!O$160","v":963087.92893356539},{"$f":"'Sc1'!P$160","v":980792.47609054274},{"$f":"'Sc1'!Q$160","v":986897.70132957341},{"$f":"'Sc1'!R$160","v":992991.10465065727},{"$f":"'Sc1'!S$160","v":999064.35272046109},{"$f":"'Sc1'!T$160","v":1005109.1122056515}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!$K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc2'!G$160","v":716536.01441951236},{"$f":"'Sc2'!H$160","v":736422.76472955162},{"$f":"'Sc2'!I$160","v":761673.16400960088},{"$f":"'Sc2'!J$160","v":824648.61437947711},{"$f":"'Sc2'!K$160","v":860299.7377928549},{"$f":"'Sc2'!L$160","v":861792.83928828605},{"$f":"'Sc2'!M$160","v":908621.66886577022},{"$f":"'Sc2'!N$160","v":933600.72652530787},{"$f":"'Sc2'!O$160","v":963087.92893356539},{"$f":"'Sc2'!P$160","v":980792.47609054274},{"$f":"'Sc2'!Q$160","v":986897.70132957341},{"$f":"'Sc2'!R$160","v":992991.10465065727},{"$f":"'Sc2'!S$160","v":999064.35272046109},{"$f":"'Sc2'!T$160","v":1005109.1122056515}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!$K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc3'!G$160","v":716235.66001951229},{"$f":"'Sc3'!H$160","v":736022.04969755153},{"$f":"'Sc3'!I$160","v":761156.62075212086},{"$f":"'Sc3'!J$160","v":824018.92004056007},{"$f":"'Sc3'!K$160","v":857573.82762818877},{"$f":"'Sc3'!L$160","v":860972.50193213264},{"$f":"'Sc3'!M$160","v":907312.02628572506},{"$f":"'Sc3'!N$160","v":932196.90068896604},{"$f":"'Sc3'!O$160","v":961607.95014185563},{"$f":"'Sc3'!P$160","v":979238.0163110604},{"$f":"'Sc3'!Q$160","v":985270.43252991373},{"$f":"'Sc3'!R$160","v":991292.6987984156},{"$f":"'Sc3'!S$160","v":997296.48178323265},{"$f":"'Sc3'!T$160","v":1003273.4481510316}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!$K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc4'!G$160","v":716235.66001951229},{"$f":"'Sc4'!H$160","v":736022.04969755153},{"$f":"'Sc4'!I$160","v":761156.62075212086},{"$f":"'Sc4'!J$160","v":824018.92004056007},{"$f":"'Sc4'!K$160","v":857573.82762818877},{"$f":"'Sc4'!L$160","v":860972.50193213264},{"$f":"'Sc4'!M$160","v":907312.02628572506},{"$f":"'Sc4'!N$160","v":932196.90068896604},{"$f":"'Sc4'!O$160","v":961607.95014185563},{"$f":"'Sc4'!P$160","v":979238.0163110604},{"$f":"'Sc4'!Q$160","v":985270.43252991373},{"$f":"'Sc4'!R$160","v":991292.6987984156},{"$f":"'Sc4'!S$160","v":997296.48178323265},{"$f":"'Sc4'!T$160","v":1003273.4481510316}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!$K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc5'!G$160","v":716235.66001951229},{"$f":"'Sc5'!H$160","v":736022.04969755153},{"$f":"'Sc5'!I$160","v":761156.62075212086},{"$f":"'Sc5'!J$160","v":824018.92004056007},{"$f":"'Sc5'!K$160","v":855286.72652442718},{"$f":"'Sc5'!L$160","v":856342.89534595655},{"$f":"'Sc5'!M$160","v":900272.42650514841},{"$f":"'Sc5'!N$160","v":922664.77454745711},{"$f":"'Sc5'!O$160","v":949512.31220015546},{"$f":"'Sc5'!P$160","v":964508.42128142517},{"$f":"'Sc5'!Q$160","v":967853.10179126635},{"$f":"'Sc5'!R$160","v":971141.80827513349},{"$f":"'Sc5'!S$160","v":974365.44982393575},{"$f":"'Sc5'!T$160","v":977514.93552858208}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!$K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc6'!G$160","v":716235.66001951229},{"$f":"'Sc6'!H$160","v":736022.04969755153},{"$f":"'Sc6'!I$160","v":761156.62075212086},{"$f":"'Sc6'!J$160","v":824018.92004056007},{"$f":"'Sc6'!K$160","v":855286.72652442718},{"$f":"'Sc6'!L$160","v":856342.89534595655},{"$f":"'Sc6'!M$160","v":900272.42650514841},{"$f":"'Sc6'!N$160","v":922664.77454745711},{"$f":"'Sc6'!O$160","v":949512.31220015546},{"$f":"'Sc6'!P$160","v":964508.42128142517},{"$f":"'Sc6'!Q$160","v":967853.10179126635},{"$f":"'Sc6'!R$160","v":971141.80827513349},{"$f":"'Sc6'!S$160","v":974365.44982393575},{"$f":"'Sc6'!T$160","v":977514.93552858208}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!$K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc7'!G$160","v":716235.66001951229},{"$f":"'Sc7'!H$160","v":736022.04969755153},{"$f":"'Sc7'!I$160","v":761156.62075212086},{"$f":"'Sc7'!J$160","v":824018.92004056007},{"$f":"'Sc7'!K$160","v":855286.72652442718},{"$f":"'Sc7'!L$160","v":856342.89534595655},{"$f":"'Sc7'!M$160","v":900272.42650514841},{"$f":"'Sc7'!N$160","v":922664.77454745711},{"$f":"'Sc7'!O$160","v":949512.31220015546},{"$f":"'Sc7'!P$160","v":964508.42128142517},{"$f":"'Sc7'!Q$160","v":967853.10179126635},{"$f":"'Sc7'!R$160","v":971141.80827513349},{"$f":"'Sc7'!S$160","v":974365.44982393575},{"$f":"'Sc7'!T$160","v":977514.93552858208}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!$K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc8'!G$160","v":716235.66001951229},{"$f":"'Sc8'!H$160","v":736022.04969755153},{"$f":"'Sc8'!I$160","v":761156.62075212086},{"$f":"'Sc8'!J$160","v":824018.92004056007},{"$f":"'Sc8'!K$160","v":855286.72652442718},{"$f":"'Sc8'!L$160","v":856342.89534595655},{"$f":"'Sc8'!M$160","v":900272.42650514841},{"$f":"'Sc8'!N$160","v":922664.77454745711},{"$f":"'Sc8'!O$160","v":949512.31220015546},{"$f":"'Sc8'!P$160","v":964508.42128142517},{"$f":"'Sc8'!Q$160","v":967853.10179126635},{"$f":"'Sc8'!R$160","v":971141.80827513349},{"$f":"'Sc8'!S$160","v":974365.44982393575},{"$f":"'Sc8'!T$160","v":977514.93552858208}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!$K$153","v":"2015-16 $'000"},null,null,{"$f":"'Sc9'!G$160","v":716235.66001951229},{"$f":"'Sc9'!H$160","v":736022.04969755153},{"$f":"'Sc9'!I$160","v":761156.62075212086},{"$f":"'Sc9'!J$160","v":824018.92004056007},{"$f":"'Sc9'!K$160","v":855286.72652442718},{"$f":"'Sc9'!L$160","v":856342.89534595655},{"$f":"'Sc9'!M$160","v":900272.42650514841},{"$f":"'Sc9'!N$160","v":922664.77454745711},{"$f":"'Sc9'!O$160","v":949512.31220015546},{"$f":"'Sc9'!P$160","v":964508.42128142517},{"$f":"'Sc9'!Q$160","v":967853.10179126635},{"$f":"'Sc9'!R$160","v":971141.80827513349},{"$f":"'Sc9'!S$160","v":974365.44982393575},{"$f":"'Sc9'!T$160","v":977514.93552858208}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!$K$153","v":0},null,null,{"$f":"'Sc10'!G$160","v":0},{"$f":"'Sc10'!H$160","v":0},{"$f":"'Sc10'!I$160","v":0},{"$f":"'Sc10'!J$160","v":0},{"$f":"'Sc10'!K$160","v":0},{"$f":"'Sc10'!L$160","v":0},{"$f":"'Sc10'!M$160","v":0},{"$f":"'Sc10'!N$160","v":0},{"$f":"'Sc10'!O$160","v":0},{"$f":"'Sc10'!P$160","v":0},{"$f":"'Sc10'!Q$160","v":0},{"$f":"'Sc10'!R$160","v":0},{"$f":"'Sc10'!S$160","v":0},{"$f":"'Sc10'!T$160","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!$K$153","v":0},null,null,{"$f":"'Sc11'!G$160","v":0},{"$f":"'Sc11'!H$160","v":0},{"$f":"'Sc11'!I$160","v":0},{"$f":"'Sc11'!J$160","v":0},{"$f":"'Sc11'!K$160","v":0},{"$f":"'Sc11'!L$160","v":0},{"$f":"'Sc11'!M$160","v":0},{"$f":"'Sc11'!N$160","v":0},{"$f":"'Sc11'!O$160","v":0},{"$f":"'Sc11'!P$160","v":0},{"$f":"'Sc11'!Q$160","v":0},{"$f":"'Sc11'!R$160","v":0},{"$f":"'Sc11'!S$160","v":0},{"$f":"'Sc11'!T$160","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!$K$153","v":0},null,null,{"$f":"'Sc12'!G$160","v":0},{"$f":"'Sc12'!H$160","v":0},{"$f":"'Sc12'!I$160","v":0},{"$f":"'Sc12'!J$160","v":0},{"$f":"'Sc12'!K$160","v":0},{"$f":"'Sc12'!L$160","v":0},{"$f":"'Sc12'!M$160","v":0},{"$f":"'Sc12'!N$160","v":0},{"$f":"'Sc12'!O$160","v":0},{"$f":"'Sc12'!P$160","v":0},{"$f":"'Sc12'!Q$160","v":0},{"$f":"'Sc12'!R$160","v":0},{"$f":"'Sc12'!S$160","v":0},{"$f":"'Sc12'!T$160","v":0}]
[null,"* Historical closing RAB is always in nominal prices"]
[]
[]
[null,"TABLE 2 - Value of working capital (net)"]
[null,null,null,"nominal or real?",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!$K$153","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc1'!J$162","v":5054.5479452054806},{"$f":"'Sc1'!K$162","v":5629.4838356164382},{"$f":"'Sc1'!L$162","v":8499.0582829246905},{"$f":"'Sc1'!M$162","v":5296.086774148951},{"$f":"'Sc1'!N$162","v":7343.8289602489258},{"$f":"'Sc1'!O$162","v":7393.9667713153631},{"$f":"'Sc1'!P$162","v":8846.984890913287},{"$f":"'Sc1'!Q$162","v":10316.904763818511},{"$f":"'Sc1'!R$162","v":10921.939836184323},{"$f":"'Sc1'!S$162","v":11544.819676117777},{"$f":"'Sc1'!T$162","v":12185.848524540999}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!$K$153","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc2'!J$162","v":5154.2739726027394},{"$f":"'Sc2'!K$162","v":5729.2098630136989},{"$f":"'Sc2'!L$162","v":8535.5318478522931},{"$f":"'Sc2'!M$162","v":5267.6907586513062},{"$f":"'Sc2'!N$162","v":7245.7939225563896},{"$f":"'Sc2'!O$162","v":7222.6232921036699},{"$f":"'Sc2'!P$162","v":8665.4580250972886},{"$f":"'Sc2'!Q$162","v":10125.68433479741},{"$f":"'Sc2'!R$162","v":10719.974772395086},{"$f":"'Sc2'!S$162","v":11331.817206037451},{"$f":"'Sc2'!T$162","v":11962.278008382695}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!$K$153","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc3'!J$162","v":5161.868493150685},{"$f":"'Sc3'!K$162","v":5890.7890410958898},{"$f":"'Sc3'!L$162","v":8385.910181704221},{"$f":"'Sc3'!M$162","v":5297.6827226752685},{"$f":"'Sc3'!N$162","v":7241.1179043767788},{"$f":"'Sc3'!O$162","v":7211.7169973121891},{"$f":"'Sc3'!P$162","v":8653.8557897091796},{"$f":"'Sc3'!Q$162","v":10113.367207921638},{"$f":"'Sc3'!R$162","v":10706.923348784672},{"$f":"'Sc3'!S$162","v":11318.011477457774},{"$f":"'Sc3'!T$162","v":11947.697625472611}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!$K$153","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc4'!J$162","v":5161.868493150685},{"$f":"'Sc4'!K$162","v":5890.7890410958898},{"$f":"'Sc4'!L$162","v":8559.0744323110157},{"$f":"'Sc4'!M$162","v":5651.7059728726035},{"$f":"'Sc4'!N$162","v":7788.2297409583716},{"$f":"'Sc4'!O$162","v":7963.3476075669059},{"$f":"'Sc4'!P$162","v":9433.6435511571017},{"$f":"'Sc4'!Q$162","v":10922.078857129785},{"$f":"'Sc4'!R$162","v":11545.34400516676},{"$f":"'Sc4'!S$162","v":12186.950656782694},{"$f":"'Sc4'!T$162","v":12847.978645192175}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!$K$153","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc5'!J$162","v":5161.868493150685},{"$f":"'Sc5'!K$162","v":5890.7890410958898},{"$f":"'Sc5'!L$162","v":8693.8899782358967},{"$f":"'Sc5'!M$162","v":5930.0936574154202},{"$f":"'Sc5'!N$162","v":8222.7689515854272},{"$f":"'Sc5'!O$162","v":8566.3097910882716},{"$f":"'Sc5'!P$162","v":10059.193555256241},{"$f":"'Sc5'!Q$162","v":11570.831762071299},{"$f":"'Sc5'!R$162","v":12217.929638035333},{"$f":"'Sc5'!S$162","v":12884.018415552473},{"$f":"'Sc5'!T$162","v":13570.188999622791}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!$K$153","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc6'!J$162","v":5161.868493150685},{"$f":"'Sc6'!K$162","v":5890.7890410958898},{"$f":"'Sc6'!L$162","v":9223.0249245813575},{"$f":"'Sc6'!M$162","v":6182.0369392640514},{"$f":"'Sc6'!N$162","v":7988.723401164867},{"$f":"'Sc6'!O$162","v":7900.9515521780013},{"$f":"'Sc6'!P$162","v":9104.2111395473639},{"$f":"'Sc6'!Q$162","v":10168.13388471289},{"$f":"'Sc6'!R$162","v":10281.11722295063},{"$f":"'Sc6'!S$162","v":10424.657933618982},{"$f":"'Sc6'!T$162","v":10478.421950742482}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!$K$153","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc7'!J$162","v":5161.868493150685},{"$f":"'Sc7'!K$162","v":5890.7890410958898},{"$f":"'Sc7'!L$162","v":9223.0249245813575},{"$f":"'Sc7'!M$162","v":6182.0369392640514},{"$f":"'Sc7'!N$162","v":7988.723401164867},{"$f":"'Sc7'!O$162","v":7900.9515521780013},{"$f":"'Sc7'!P$162","v":9104.2111395473639},{"$f":"'Sc7'!Q$162","v":10168.13388471289},{"$f":"'Sc7'!R$162","v":10281.11722295063},{"$f":"'Sc7'!S$162","v":10424.657933618982},{"$f":"'Sc7'!T$162","v":10478.421950742482}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!$K$153","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc8'!J$162","v":5161.868493150685},{"$f":"'Sc8'!K$162","v":5890.7890410958898},{"$f":"'Sc8'!L$162","v":9223.0249245813575},{"$f":"'Sc8'!M$162","v":6182.0369392640514},{"$f":"'Sc8'!N$162","v":7988.723401164867},{"$f":"'Sc8'!O$162","v":7900.9515521780013},{"$f":"'Sc8'!P$162","v":9104.2111395473639},{"$f":"'Sc8'!Q$162","v":10168.13388471289},{"$f":"'Sc8'!R$162","v":10281.11722295063},{"$f":"'Sc8'!S$162","v":10424.657933618982},{"$f":"'Sc8'!T$162","v":10478.421950742482}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!$K$153","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc9'!J$162","v":5161.868493150685},{"$f":"'Sc9'!K$162","v":5890.7890410958898},{"$f":"'Sc9'!L$162","v":9223.0249245813575},{"$f":"'Sc9'!M$162","v":6182.0369392640514},{"$f":"'Sc9'!N$162","v":7988.723401164867},{"$f":"'Sc9'!O$162","v":7900.9515521780013},{"$f":"'Sc9'!P$162","v":9104.2111395473639},{"$f":"'Sc9'!Q$162","v":10168.13388471289},{"$f":"'Sc9'!R$162","v":10281.11722295063},{"$f":"'Sc9'!S$162","v":10424.657933618982},{"$f":"'Sc9'!T$162","v":10478.421950742482}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!$K$153","v":0},null,null,null,null,null,{"$f":"'Sc10'!J$162","v":0},{"$f":"'Sc10'!K$162","v":0},{"$f":"'Sc10'!L$162","v":0},{"$f":"'Sc10'!M$162","v":0},{"$f":"'Sc10'!N$162","v":0},{"$f":"'Sc10'!O$162","v":0},{"$f":"'Sc10'!P$162","v":0},{"$f":"'Sc10'!Q$162","v":0},{"$f":"'Sc10'!R$162","v":0},{"$f":"'Sc10'!S$162","v":0},{"$f":"'Sc10'!T$162","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!$K$153","v":0},null,null,null,null,null,{"$f":"'Sc11'!J$162","v":0},{"$f":"'Sc11'!K$162","v":0},{"$f":"'Sc11'!L$162","v":0},{"$f":"'Sc11'!M$162","v":0},{"$f":"'Sc11'!N$162","v":0},{"$f":"'Sc11'!O$162","v":0},{"$f":"'Sc11'!P$162","v":0},{"$f":"'Sc11'!Q$162","v":0},{"$f":"'Sc11'!R$162","v":0},{"$f":"'Sc11'!S$162","v":0},{"$f":"'Sc11'!T$162","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!$K$153","v":0},null,null,null,null,null,{"$f":"'Sc12'!J$162","v":0},{"$f":"'Sc12'!K$162","v":0},{"$f":"'Sc12'!L$162","v":0},{"$f":"'Sc12'!M$162","v":0},{"$f":"'Sc12'!N$162","v":0},{"$f":"'Sc12'!O$162","v":0},{"$f":"'Sc12'!P$162","v":0},{"$f":"'Sc12'!Q$162","v":0},{"$f":"'Sc12'!R$162","v":0},{"$f":"'Sc12'!S$162","v":0},{"$f":"'Sc12'!T$162","v":0}]
[]
[]
[null,"FORECAST BUILDING BLOCK COST AND EXPECTED REVENUE FROM TARIFFS"]
[null,"unhide rows to see table contents"]
[]
[]
[null,{"$f":"\"TABLE 3  -\"&'Sc1'!$B$172&\" in building block revenue requirement\"","v":"TABLE 3  -  Depreciation (regulatory) in building block revenue requirement"}]
[null,null,null,"nominal or real?",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc1'!J$172","v":19995.381365565809},{"$f":"'Sc1'!K$172","v":19970.263776763761},{"$f":"'Sc1'!L$172","v":20573.570765147397},{"$f":"'Sc1'!M$172","v":21310.034498460278},{"$f":"'Sc1'!N$172","v":22208.240920109238},{"$f":"'Sc1'!O$172","v":22978.991497223473},{"$f":"'Sc1'!P$172","v":23743.878291074769},{"$f":"'Sc1'!Q$172","v":24329.593929669587},{"$f":"'Sc1'!R$172","v":24829.796062346537},{"$f":"'Sc1'!S$172","v":25338.142338444239},{"$f":"'Sc1'!T$172","v":25854.632757962689}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc2'!J$172","v":19995.381365565809},{"$f":"'Sc2'!K$172","v":19970.263776763761},{"$f":"'Sc2'!L$172","v":20573.570765147397},{"$f":"'Sc2'!M$172","v":21310.034498460278},{"$f":"'Sc2'!N$172","v":22208.240920109238},{"$f":"'Sc2'!O$172","v":22978.991497223473},{"$f":"'Sc2'!P$172","v":23743.878291074769},{"$f":"'Sc2'!Q$172","v":24329.593929669587},{"$f":"'Sc2'!R$172","v":24829.796062346537},{"$f":"'Sc2'!S$172","v":25338.142338444239},{"$f":"'Sc2'!T$172","v":25854.632757962689}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc3'!J$172","v":19995.381365565809},{"$f":"'Sc3'!K$172","v":19960.408541398298},{"$f":"'Sc3'!L$172","v":20561.967502507119},{"$f":"'Sc3'!M$172","v":21293.425551176893},{"$f":"'Sc3'!N$172","v":22186.626288182742},{"$f":"'Sc3'!O$172","v":22955.685847026118},{"$f":"'Sc3'!P$172","v":23718.938631610497},{"$f":"'Sc3'!Q$172","v":24303.020260938392},{"$f":"'Sc3'!R$172","v":24801.588384348426},{"$f":"'Sc3'!S$172","v":25308.300651179205},{"$f":"'Sc3'!T$172","v":25823.157061430735}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc4'!J$172","v":19995.381365565809},{"$f":"'Sc4'!K$172","v":19922.388681087115},{"$f":"'Sc4'!L$172","v":20522.801814563063},{"$f":"'Sc4'!M$172","v":21252.86660854187},{"$f":"'Sc4'!N$172","v":22144.36600926593},{"$f":"'Sc4'!O$172","v":22911.960691429173},{"$f":"'Sc4'!P$172","v":23673.759659865857},{"$f":"'Sc4'!Q$172","v":24256.728751746872},{"$f":"'Sc4'!R$172","v":24754.347220726318},{"$f":"'Sc4'!S$172","v":25260.094320458295},{"$f":"'Sc4'!T$172","v":25773.9700509428}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc5'!J$172","v":19995.381365565809},{"$f":"'Sc5'!K$172","v":22153.308725028994},{"$f":"'Sc5'!L$172","v":22807.765266842052},{"$f":"'Sc5'!M$172","v":23603.659983749145},{"$f":"'Sc5'!N$172","v":24575.665180741966},{"$f":"'Sc5'!O$172","v":25412.501593850258},{"$f":"'Sc5'!P$172","v":26243.015410165946},{"$f":"'Sc5'!Q$172","v":26878.442088420903},{"$f":"'Sc5'!R$172","v":27420.758996237779},{"$f":"'Sc5'!S$172","v":27971.943501239231},{"$f":"'Sc5'!T$172","v":28531.995603425268}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc6'!J$172","v":19995.381365565809},{"$f":"'Sc6'!K$172","v":22153.308725028994},{"$f":"'Sc6'!L$172","v":22807.765266842052},{"$f":"'Sc6'!M$172","v":23603.659983749145},{"$f":"'Sc6'!N$172","v":24575.665180741966},{"$f":"'Sc6'!O$172","v":25412.501593850258},{"$f":"'Sc6'!P$172","v":26243.015410165946},{"$f":"'Sc6'!Q$172","v":26878.442088420903},{"$f":"'Sc6'!R$172","v":27420.758996237779},{"$f":"'Sc6'!S$172","v":27971.943501239231},{"$f":"'Sc6'!T$172","v":28531.995603425268}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc7'!J$172","v":19995.381365565809},{"$f":"'Sc7'!K$172","v":22153.308725028994},{"$f":"'Sc7'!L$172","v":22807.765266842052},{"$f":"'Sc7'!M$172","v":23603.659983749145},{"$f":"'Sc7'!N$172","v":24575.665180741966},{"$f":"'Sc7'!O$172","v":25412.501593850258},{"$f":"'Sc7'!P$172","v":26243.015410165946},{"$f":"'Sc7'!Q$172","v":26878.442088420903},{"$f":"'Sc7'!R$172","v":27420.758996237779},{"$f":"'Sc7'!S$172","v":27971.943501239231},{"$f":"'Sc7'!T$172","v":28531.995603425268}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc8'!J$172","v":19995.381365565809},{"$f":"'Sc8'!K$172","v":22153.308725028994},{"$f":"'Sc8'!L$172","v":22807.765266842052},{"$f":"'Sc8'!M$172","v":23603.659983749145},{"$f":"'Sc8'!N$172","v":24575.665180741966},{"$f":"'Sc8'!O$172","v":25412.501593850258},{"$f":"'Sc8'!P$172","v":26243.015410165946},{"$f":"'Sc8'!Q$172","v":26878.442088420903},{"$f":"'Sc8'!R$172","v":27420.758996237779},{"$f":"'Sc8'!S$172","v":27971.943501239231},{"$f":"'Sc8'!T$172","v":28531.995603425268}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc9'!J$172","v":19995.381365565809},{"$f":"'Sc9'!K$172","v":22153.308725028994},{"$f":"'Sc9'!L$172","v":22807.765266842052},{"$f":"'Sc9'!M$172","v":23603.659983749145},{"$f":"'Sc9'!N$172","v":24575.665180741966},{"$f":"'Sc9'!O$172","v":25412.501593850258},{"$f":"'Sc9'!P$172","v":26243.015410165946},{"$f":"'Sc9'!Q$172","v":26878.442088420903},{"$f":"'Sc9'!R$172","v":27420.758996237779},{"$f":"'Sc9'!S$172","v":27971.943501239231},{"$f":"'Sc9'!T$172","v":28531.995603425268}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!$K$169","v":0},null,null,null,null,null,{"$f":"'Sc10'!J$172","v":0},{"$f":"'Sc10'!K$172","v":0},{"$f":"'Sc10'!L$172","v":0},{"$f":"'Sc10'!M$172","v":0},{"$f":"'Sc10'!N$172","v":0},{"$f":"'Sc10'!O$172","v":0},{"$f":"'Sc10'!P$172","v":0},{"$f":"'Sc10'!Q$172","v":0},{"$f":"'Sc10'!R$172","v":0},{"$f":"'Sc10'!S$172","v":0},{"$f":"'Sc10'!T$172","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!$K$169","v":0},null,null,null,null,null,{"$f":"'Sc11'!J$172","v":0},{"$f":"'Sc11'!K$172","v":0},{"$f":"'Sc11'!L$172","v":0},{"$f":"'Sc11'!M$172","v":0},{"$f":"'Sc11'!N$172","v":0},{"$f":"'Sc11'!O$172","v":0},{"$f":"'Sc11'!P$172","v":0},{"$f":"'Sc11'!Q$172","v":0},{"$f":"'Sc11'!R$172","v":0},{"$f":"'Sc11'!S$172","v":0},{"$f":"'Sc11'!T$172","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!$K$169","v":0},null,null,null,null,null,{"$f":"'Sc12'!J$172","v":0},{"$f":"'Sc12'!K$172","v":0},{"$f":"'Sc12'!L$172","v":0},{"$f":"'Sc12'!M$172","v":0},{"$f":"'Sc12'!N$172","v":0},{"$f":"'Sc12'!O$172","v":0},{"$f":"'Sc12'!P$172","v":0},{"$f":"'Sc12'!Q$172","v":0},{"$f":"'Sc12'!R$172","v":0},{"$f":"'Sc12'!S$172","v":0},{"$f":"'Sc12'!T$172","v":0}]
[]
[]
[null,{"$f":"\"TABLE 4 -\"&'Sc1'!$B$173&\" in building block revenue requirement\"","v":"TABLE 4 -  Return on RAB in building block revenue requirement"}]
[null,null,null,"nominal or real?",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc1'!J$173","v":35057.254862595611},{"$f":"'Sc1'!K$173","v":39166.641322096686},{"$f":"'Sc1'!L$173","v":40033.891299969626},{"$f":"'Sc1'!M$173","v":41160.98307611404},{"$f":"'Sc1'!N$173","v":42831.265652388771},{"$f":"'Sc1'!O$173","v":44100.276805657682},{"$f":"'Sc1'!P$173","v":45202.080227706865},{"$f":"'Sc1'!Q$173","v":45762.671312621758},{"$f":"'Sc1'!R$173","v":46054.585675834329},{"$f":"'Sc1'!S$173","v":46345.957023257586},{"$f":"'Sc1'!T$173","v":46636.402580150767}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc2'!J$173","v":36350.401389366598},{"$f":"'Sc2'!K$173","v":39166.641322096686},{"$f":"'Sc2'!L$173","v":40033.891299969626},{"$f":"'Sc2'!M$173","v":41160.98307611404},{"$f":"'Sc2'!N$173","v":42831.265652388771},{"$f":"'Sc2'!O$173","v":44100.276805657682},{"$f":"'Sc2'!P$173","v":45202.080227706865},{"$f":"'Sc2'!Q$173","v":45762.671312621758},{"$f":"'Sc2'!R$173","v":46054.585675834329},{"$f":"'Sc2'!S$173","v":46345.957023257586},{"$f":"'Sc2'!T$173","v":46636.402580150767}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc3'!J$173","v":36349.879471020715},{"$f":"'Sc3'!K$173","v":39089.343285425406},{"$f":"'Sc3'!L$173","v":39952.173784767198},{"$f":"'Sc3'!M$173","v":41111.674614776784},{"$f":"'Sc3'!N$173","v":42768.438878357447},{"$f":"'Sc3'!O$173","v":44033.49826874111},{"$f":"'Sc3'!P$173","v":45131.803759460272},{"$f":"'Sc3'!Q$173","v":45688.973711480692},{"$f":"'Sc3'!R$173","v":45977.543740234316},{"$f":"'Sc3'!S$173","v":46265.647551634182},{"$f":"'Sc3'!T$173","v":46552.902370939511}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc4'!J$173","v":36349.879471020715},{"$f":"'Sc4'!K$173","v":42335.30326848093},{"$f":"'Sc4'!L$173","v":43269.782791255333},{"$f":"'Sc4'!M$173","v":44525.568004122142},{"$f":"'Sc4'!N$173","v":46319.909163320393},{"$f":"'Sc4'!O$173","v":47690.018467881186},{"$f":"'Sc4'!P$173","v":48879.526710358354},{"$f":"'Sc4'!Q$173","v":49482.96378318491},{"$f":"'Sc4'!R$173","v":49795.496526246723},{"$f":"'Sc4'!S$173","v":50107.524337493334},{"$f":"'Sc4'!T$173","v":50418.632656756352}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc5'!J$173","v":36349.879471020715},{"$f":"'Sc5'!K$173","v":42335.30326848093},{"$f":"'Sc5'!L$173","v":43156.005869014298},{"$f":"'Sc5'!M$173","v":44295.257945814868},{"$f":"'Sc5'!N$173","v":45969.708642877551},{"$f":"'Sc5'!O$173","v":47215.821689693068},{"$f":"'Sc5'!P$173","v":48277.80234614676},{"$f":"'Sc5'!Q$173","v":48750.207375708007},{"$f":"'Sc5'!R$173","v":48929.032738599446},{"$f":"'Sc5'!S$173","v":49105.073549294968},{"$f":"'Sc5'!T$173","v":49277.877560338165}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc6'!J$173","v":36349.879471020715},{"$f":"'Sc6'!K$173","v":42335.30326848093},{"$f":"'Sc6'!L$173","v":43156.005869014298},{"$f":"'Sc6'!M$173","v":44295.257945814868},{"$f":"'Sc6'!N$173","v":45969.708642877551},{"$f":"'Sc6'!O$173","v":47215.821689693068},{"$f":"'Sc6'!P$173","v":48277.80234614676},{"$f":"'Sc6'!Q$173","v":48750.207375708007},{"$f":"'Sc6'!R$173","v":48929.032738599446},{"$f":"'Sc6'!S$173","v":49105.073549294968},{"$f":"'Sc6'!T$173","v":49277.877560338165}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc7'!J$173","v":36349.879471020715},{"$f":"'Sc7'!K$173","v":42335.30326848093},{"$f":"'Sc7'!L$173","v":43156.005869014298},{"$f":"'Sc7'!M$173","v":44295.257945814868},{"$f":"'Sc7'!N$173","v":45969.708642877551},{"$f":"'Sc7'!O$173","v":47215.821689693068},{"$f":"'Sc7'!P$173","v":48277.80234614676},{"$f":"'Sc7'!Q$173","v":48750.207375708007},{"$f":"'Sc7'!R$173","v":48929.032738599446},{"$f":"'Sc7'!S$173","v":49105.073549294968},{"$f":"'Sc7'!T$173","v":49277.877560338165}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc8'!J$173","v":36349.879471020715},{"$f":"'Sc8'!K$173","v":42335.30326848093},{"$f":"'Sc8'!L$173","v":43156.005869014298},{"$f":"'Sc8'!M$173","v":44295.257945814868},{"$f":"'Sc8'!N$173","v":45969.708642877551},{"$f":"'Sc8'!O$173","v":47215.821689693068},{"$f":"'Sc8'!P$173","v":48277.80234614676},{"$f":"'Sc8'!Q$173","v":48750.207375708007},{"$f":"'Sc8'!R$173","v":48929.032738599446},{"$f":"'Sc8'!S$173","v":49105.073549294968},{"$f":"'Sc8'!T$173","v":49277.877560338165}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc9'!J$173","v":36349.879471020715},{"$f":"'Sc9'!K$173","v":42335.30326848093},{"$f":"'Sc9'!L$173","v":43156.005869014298},{"$f":"'Sc9'!M$173","v":44295.257945814868},{"$f":"'Sc9'!N$173","v":45969.708642877551},{"$f":"'Sc9'!O$173","v":47215.821689693068},{"$f":"'Sc9'!P$173","v":48277.80234614676},{"$f":"'Sc9'!Q$173","v":48750.207375708007},{"$f":"'Sc9'!R$173","v":48929.032738599446},{"$f":"'Sc9'!S$173","v":49105.073549294968},{"$f":"'Sc9'!T$173","v":49277.877560338165}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!$K$169","v":0},null,null,null,null,null,{"$f":"'Sc10'!J$173","v":0},{"$f":"'Sc10'!K$173","v":0},{"$f":"'Sc10'!L$173","v":0},{"$f":"'Sc10'!M$173","v":0},{"$f":"'Sc10'!N$173","v":0},{"$f":"'Sc10'!O$173","v":0},{"$f":"'Sc10'!P$173","v":0},{"$f":"'Sc10'!Q$173","v":0},{"$f":"'Sc10'!R$173","v":0},{"$f":"'Sc10'!S$173","v":0},{"$f":"'Sc10'!T$173","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!$K$169","v":0},null,null,null,null,null,{"$f":"'Sc11'!J$173","v":0},{"$f":"'Sc11'!K$173","v":0},{"$f":"'Sc11'!L$173","v":0},{"$f":"'Sc11'!M$173","v":0},{"$f":"'Sc11'!N$173","v":0},{"$f":"'Sc11'!O$173","v":0},{"$f":"'Sc11'!P$173","v":0},{"$f":"'Sc11'!Q$173","v":0},{"$f":"'Sc11'!R$173","v":0},{"$f":"'Sc11'!S$173","v":0},{"$f":"'Sc11'!T$173","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!$K$169","v":0},null,null,null,null,null,{"$f":"'Sc12'!J$173","v":0},{"$f":"'Sc12'!K$173","v":0},{"$f":"'Sc12'!L$173","v":0},{"$f":"'Sc12'!M$173","v":0},{"$f":"'Sc12'!N$173","v":0},{"$f":"'Sc12'!O$173","v":0},{"$f":"'Sc12'!P$173","v":0},{"$f":"'Sc12'!Q$173","v":0},{"$f":"'Sc12'!R$173","v":0},{"$f":"'Sc12'!S$173","v":0},{"$f":"'Sc12'!T$173","v":0}]
[]
[]
[null,{"$f":"\"TABLE 5 -\"&'Sc1'!$B$175&\" in building block revenue requirement (before adjustment for franking credits)\"","v":"TABLE 5 -  Tax allowance in building block revenue requirement (before adjustment for franking credits)"}]
[null,null,null,"nominal or real?",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc1'!J$175","v":3200},{"$f":"'Sc1'!K$175","v":2952.273903713065},{"$f":"'Sc1'!L$175","v":3767.4759380212299},{"$f":"'Sc1'!M$175","v":3797.7956444602933},{"$f":"'Sc1'!N$175","v":3498.4203792857638},{"$f":"'Sc1'!O$175","v":4510.3861412905189},{"$f":"'Sc1'!P$175","v":4176.8085290302424},{"$f":"'Sc1'!Q$175","v":4187.5376440648461},{"$f":"'Sc1'!R$175","v":5099.606945971891},{"$f":"'Sc1'!S$175","v":5022.1143079883896},{"$f":"'Sc1'!T$175","v":5249.3119584434771}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc2'!J$175","v":3200},{"$f":"'Sc2'!K$175","v":2952.5067981728521},{"$f":"'Sc2'!L$175","v":3767.5611162983723},{"$f":"'Sc2'!M$175","v":3797.7293300300271},{"$f":"'Sc2'!N$175","v":3498.1914338666006},{"$f":"'Sc2'!O$175","v":4509.9859955304701},{"$f":"'Sc2'!P$175","v":4176.3846015716417},{"$f":"'Sc2'!Q$175","v":4187.0910788132342},{"$f":"'Sc2'!R$175","v":5099.135288314862},{"$f":"'Sc2'!S$175","v":5021.6168742040718},{"$f":"'Sc2'!T$175","v":5248.7898446488853}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc3'!J$175","v":3200},{"$f":"'Sc3'!K$175","v":2945.061316868931},{"$f":"'Sc3'!L$175","v":3758.4737088170964},{"$f":"'Sc3'!M$175","v":3788.7318971368131},{"$f":"'Sc3'!N$175","v":3486.4484965802349},{"$f":"'Sc3'!O$175","v":4497.359641160866},{"$f":"'Sc3'!P$175","v":4162.9333470655174},{"$f":"'Sc3'!Q$175","v":4172.818784531285},{"$f":"'Sc3'!R$175","v":5084.0458135566587},{"$f":"'Sc3'!S$175","v":5005.7140768610143},{"$f":"'Sc3'!T$175","v":5232.0775818157199}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc4'!J$175","v":3200},{"$f":"'Sc4'!K$175","v":3212.2926396880362},{"$f":"'Sc4'!L$175","v":4032.7850983645262},{"$f":"'Sc4'!M$175","v":4070.4010744189345},{"$f":"'Sc4'!N$175","v":3780.4829097015981},{"$f":"'Sc4'!O$175","v":4800.4976402429102},{"$f":"'Sc4'!P$175","v":4474.0278585848182},{"$f":"'Sc4'!Q$175","v":4488.1896768610668},{"$f":"'Sc4'!R$175","v":5401.5913242583483},{"$f":"'Sc4'!S$175","v":5325.4375121662088},{"$f":"'Sc4'!T$175","v":5553.9799939274953}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc5'!J$175","v":3200},{"$f":"'Sc5'!K$175","v":4094.8649090883928},{"$f":"'Sc5'!L$175","v":4931.0327196744011},{"$f":"'Sc5'!M$175","v":4988.8632583848939},{"$f":"'Sc5'!N$175","v":4724.8200288209428},{"$f":"'Sc5'!O$175","v":5766.0672964999376},{"$f":"'Sc5'!P$175","v":5460.0469212756207},{"$f":"'Sc5'!Q$175","v":5488.0415378646176},{"$f":"'Sc5'!R$175","v":6412.0655213685004},{"$f":"'Sc5'!S$175","v":6346.7066500796245},{"$f":"'Sc5'!T$175","v":6586.2146987046135}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc6'!J$175","v":3200},{"$f":"'Sc6'!K$175","v":4094.8649090883928},{"$f":"'Sc6'!L$175","v":4932.4352113502819},{"$f":"'Sc6'!M$175","v":4989.5310433384866},{"$f":"'Sc6'!N$175","v":4724.1996824641028},{"$f":"'Sc6'!O$175","v":5764.3037399667628},{"$f":"'Sc6'!P$175","v":5457.5157051881188},{"$f":"'Sc6'!Q$175","v":5484.3236354460223},{"$f":"'Sc6'!R$175","v":6406.9319286835425},{"$f":"'Sc6'!S$175","v":6340.1880244856311},{"$f":"'Sc6'!T$175","v":6578.0198561983852}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc7'!J$175","v":3200},{"$f":"'Sc7'!K$175","v":4094.8649090883928},{"$f":"'Sc7'!L$175","v":4932.4352113502819},{"$f":"'Sc7'!M$175","v":4989.5310433384866},{"$f":"'Sc7'!N$175","v":4724.1996824641028},{"$f":"'Sc7'!O$175","v":5764.3037399667628},{"$f":"'Sc7'!P$175","v":5457.5157051881188},{"$f":"'Sc7'!Q$175","v":5484.3236354460223},{"$f":"'Sc7'!R$175","v":6406.9319286835425},{"$f":"'Sc7'!S$175","v":6340.1880244856311},{"$f":"'Sc7'!T$175","v":6578.0198561983852}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc8'!J$175","v":3200},{"$f":"'Sc8'!K$175","v":4094.8649090883928},{"$f":"'Sc8'!L$175","v":4932.4352113502819},{"$f":"'Sc8'!M$175","v":4989.5310433384866},{"$f":"'Sc8'!N$175","v":4724.1996824641028},{"$f":"'Sc8'!O$175","v":5764.3037399667628},{"$f":"'Sc8'!P$175","v":5457.5157051881188},{"$f":"'Sc8'!Q$175","v":5484.3236354460223},{"$f":"'Sc8'!R$175","v":6406.9319286835425},{"$f":"'Sc8'!S$175","v":6340.1880244856311},{"$f":"'Sc8'!T$175","v":6578.0198561983852}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc9'!J$175","v":3200},{"$f":"'Sc9'!K$175","v":4094.8649090883928},{"$f":"'Sc9'!L$175","v":4932.4352113502819},{"$f":"'Sc9'!M$175","v":4989.5310433384866},{"$f":"'Sc9'!N$175","v":4724.1996824641028},{"$f":"'Sc9'!O$175","v":5764.3037399667628},{"$f":"'Sc9'!P$175","v":5457.5157051881188},{"$f":"'Sc9'!Q$175","v":5484.3236354460223},{"$f":"'Sc9'!R$175","v":6406.9319286835425},{"$f":"'Sc9'!S$175","v":6340.1880244856311},{"$f":"'Sc9'!T$175","v":6578.0198561983852}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!$K$169","v":0},null,null,null,null,null,{"$f":"'Sc10'!J$175","v":0},{"$f":"'Sc10'!K$175","v":0},{"$f":"'Sc10'!L$175","v":0},{"$f":"'Sc10'!M$175","v":0},{"$f":"'Sc10'!N$175","v":0},{"$f":"'Sc10'!O$175","v":0},{"$f":"'Sc10'!P$175","v":0},{"$f":"'Sc10'!Q$175","v":0},{"$f":"'Sc10'!R$175","v":0},{"$f":"'Sc10'!S$175","v":0},{"$f":"'Sc10'!T$175","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!$K$169","v":0},null,null,null,null,null,{"$f":"'Sc11'!J$175","v":0},{"$f":"'Sc11'!K$175","v":0},{"$f":"'Sc11'!L$175","v":0},{"$f":"'Sc11'!M$175","v":0},{"$f":"'Sc11'!N$175","v":0},{"$f":"'Sc11'!O$175","v":0},{"$f":"'Sc11'!P$175","v":0},{"$f":"'Sc11'!Q$175","v":0},{"$f":"'Sc11'!R$175","v":0},{"$f":"'Sc11'!S$175","v":0},{"$f":"'Sc11'!T$175","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!$K$169","v":0},null,null,null,null,null,{"$f":"'Sc12'!J$175","v":0},{"$f":"'Sc12'!K$175","v":0},{"$f":"'Sc12'!L$175","v":0},{"$f":"'Sc12'!M$175","v":0},{"$f":"'Sc12'!N$175","v":0},{"$f":"'Sc12'!O$175","v":0},{"$f":"'Sc12'!P$175","v":0},{"$f":"'Sc12'!Q$175","v":0},{"$f":"'Sc12'!R$175","v":0},{"$f":"'Sc12'!S$175","v":0},{"$f":"'Sc12'!T$175","v":0}]
[]
[]
[null,"TABLE 6 - Adjustment for franking credits (gamma) in building block revenue requirement"]
[null,null,null,"nominal or real?",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc1'!J$176","v":-800},{"$f":"'Sc1'!K$176","v":-738.06847592826625},{"$f":"'Sc1'!L$176","v":-941.86898450530748},{"$f":"'Sc1'!M$176","v":-949.44891111507332},{"$f":"'Sc1'!N$176","v":-874.60509482144096},{"$f":"'Sc1'!O$176","v":-1127.5965353226297},{"$f":"'Sc1'!P$176","v":-1044.2021322575606},{"$f":"'Sc1'!Q$176","v":-1046.8844110162115},{"$f":"'Sc1'!R$176","v":-1274.9017364929728},{"$f":"'Sc1'!S$176","v":-1255.5285769970974},{"$f":"'Sc1'!T$176","v":-1312.3279896108693}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc2'!J$176","v":-800},{"$f":"'Sc2'!K$176","v":-738.12669954321302},{"$f":"'Sc2'!L$176","v":-941.89027907459308},{"$f":"'Sc2'!M$176","v":-949.43233250750677},{"$f":"'Sc2'!N$176","v":-874.54785846665015},{"$f":"'Sc2'!O$176","v":-1127.4964988826175},{"$f":"'Sc2'!P$176","v":-1044.0961503929104},{"$f":"'Sc2'!Q$176","v":-1046.7727697033085},{"$f":"'Sc2'!R$176","v":-1274.7838220787155},{"$f":"'Sc2'!S$176","v":-1255.4042185510179},{"$f":"'Sc2'!T$176","v":-1312.1974611622213}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc3'!J$176","v":-800},{"$f":"'Sc3'!K$176","v":-736.26532921723276},{"$f":"'Sc3'!L$176","v":-939.6184272042741},{"$f":"'Sc3'!M$176","v":-947.18297428420328},{"$f":"'Sc3'!N$176","v":-871.61212414505871},{"$f":"'Sc3'!O$176","v":-1124.3399102902165},{"$f":"'Sc3'!P$176","v":-1040.7333367663794},{"$f":"'Sc3'!Q$176","v":-1043.2046961328213},{"$f":"'Sc3'!R$176","v":-1271.0114533891647},{"$f":"'Sc3'!S$176","v":-1251.4285192152536},{"$f":"'Sc3'!T$176","v":-1308.01939545393}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc4'!J$176","v":-800},{"$f":"'Sc4'!K$176","v":-803.07315992200904},{"$f":"'Sc4'!L$176","v":-1008.1962745911316},{"$f":"'Sc4'!M$176","v":-1017.6002686047336},{"$f":"'Sc4'!N$176","v":-945.12072742539954},{"$f":"'Sc4'!O$176","v":-1200.1244100607275},{"$f":"'Sc4'!P$176","v":-1118.5069646462046},{"$f":"'Sc4'!Q$176","v":-1122.0474192152667},{"$f":"'Sc4'!R$176","v":-1350.3978310645871},{"$f":"'Sc4'!S$176","v":-1331.3593780415522},{"$f":"'Sc4'!T$176","v":-1388.4949984818738}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc5'!J$176","v":-800},{"$f":"'Sc5'!K$176","v":-1023.7162272720982},{"$f":"'Sc5'!L$176","v":-1232.7581799186003},{"$f":"'Sc5'!M$176","v":-1247.2158145962235},{"$f":"'Sc5'!N$176","v":-1181.2050072052357},{"$f":"'Sc5'!O$176","v":-1441.5168241249844},{"$f":"'Sc5'!P$176","v":-1365.0117303189052},{"$f":"'Sc5'!Q$176","v":-1372.0103844661544},{"$f":"'Sc5'!R$176","v":-1603.0163803421251},{"$f":"'Sc5'!S$176","v":-1586.6766625199061},{"$f":"'Sc5'!T$176","v":-1646.5536746761534}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc6'!J$176","v":-800},{"$f":"'Sc6'!K$176","v":-1023.7162272720982},{"$f":"'Sc6'!L$176","v":-1233.1088028375705},{"$f":"'Sc6'!M$176","v":-1247.3827608346216},{"$f":"'Sc6'!N$176","v":-1181.0499206160257},{"$f":"'Sc6'!O$176","v":-1441.0759349916907},{"$f":"'Sc6'!P$176","v":-1364.3789262970297},{"$f":"'Sc6'!Q$176","v":-1371.0809088615056},{"$f":"'Sc6'!R$176","v":-1601.7329821708856},{"$f":"'Sc6'!S$176","v":-1585.0470061214078},{"$f":"'Sc6'!T$176","v":-1644.5049640495963}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc7'!J$176","v":-800},{"$f":"'Sc7'!K$176","v":-1023.7162272720982},{"$f":"'Sc7'!L$176","v":-1233.1088028375705},{"$f":"'Sc7'!M$176","v":-1247.3827608346216},{"$f":"'Sc7'!N$176","v":-1181.0499206160257},{"$f":"'Sc7'!O$176","v":-1441.0759349916907},{"$f":"'Sc7'!P$176","v":-1364.3789262970297},{"$f":"'Sc7'!Q$176","v":-1371.0809088615056},{"$f":"'Sc7'!R$176","v":-1601.7329821708856},{"$f":"'Sc7'!S$176","v":-1585.0470061214078},{"$f":"'Sc7'!T$176","v":-1644.5049640495963}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc8'!J$176","v":-800},{"$f":"'Sc8'!K$176","v":-1023.7162272720982},{"$f":"'Sc8'!L$176","v":-1233.1088028375705},{"$f":"'Sc8'!M$176","v":-1247.3827608346216},{"$f":"'Sc8'!N$176","v":-1181.0499206160257},{"$f":"'Sc8'!O$176","v":-1441.0759349916907},{"$f":"'Sc8'!P$176","v":-1364.3789262970297},{"$f":"'Sc8'!Q$176","v":-1371.0809088615056},{"$f":"'Sc8'!R$176","v":-1601.7329821708856},{"$f":"'Sc8'!S$176","v":-1585.0470061214078},{"$f":"'Sc8'!T$176","v":-1644.5049640495963}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!$K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc9'!J$176","v":-800},{"$f":"'Sc9'!K$176","v":-1023.7162272720982},{"$f":"'Sc9'!L$176","v":-1233.1088028375705},{"$f":"'Sc9'!M$176","v":-1247.3827608346216},{"$f":"'Sc9'!N$176","v":-1181.0499206160257},{"$f":"'Sc9'!O$176","v":-1441.0759349916907},{"$f":"'Sc9'!P$176","v":-1364.3789262970297},{"$f":"'Sc9'!Q$176","v":-1371.0809088615056},{"$f":"'Sc9'!R$176","v":-1601.7329821708856},{"$f":"'Sc9'!S$176","v":-1585.0470061214078},{"$f":"'Sc9'!T$176","v":-1644.5049640495963}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!$K$169","v":0},null,null,null,null,null,{"$f":"'Sc10'!J$176","v":0},{"$f":"'Sc10'!K$176","v":0},{"$f":"'Sc10'!L$176","v":0},{"$f":"'Sc10'!M$176","v":0},{"$f":"'Sc10'!N$176","v":0},{"$f":"'Sc10'!O$176","v":0},{"$f":"'Sc10'!P$176","v":0},{"$f":"'Sc10'!Q$176","v":0},{"$f":"'Sc10'!R$176","v":0},{"$f":"'Sc10'!S$176","v":0},{"$f":"'Sc10'!T$176","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!$K$169","v":0},null,null,null,null,null,{"$f":"'Sc11'!J$176","v":0},{"$f":"'Sc11'!K$176","v":0},{"$f":"'Sc11'!L$176","v":0},{"$f":"'Sc11'!M$176","v":0},{"$f":"'Sc11'!N$176","v":0},{"$f":"'Sc11'!O$176","v":0},{"$f":"'Sc11'!P$176","v":0},{"$f":"'Sc11'!Q$176","v":0},{"$f":"'Sc11'!R$176","v":0},{"$f":"'Sc11'!S$176","v":0},{"$f":"'Sc11'!T$176","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!$K$169","v":0},null,null,null,null,null,{"$f":"'Sc12'!J$176","v":0},{"$f":"'Sc12'!K$176","v":0},{"$f":"'Sc12'!L$176","v":0},{"$f":"'Sc12'!M$176","v":0},{"$f":"'Sc12'!N$176","v":0},{"$f":"'Sc12'!O$176","v":0},{"$f":"'Sc12'!P$176","v":0},{"$f":"'Sc12'!Q$176","v":0},{"$f":"'Sc12'!R$176","v":0},{"$f":"'Sc12'!S$176","v":0},{"$f":"'Sc12'!T$176","v":0}]
[]
[]
[null,{"$f":"\"TABLE 7 - \"&'Sc1'!B$181","v":"TABLE 7 - Revenue required from tariffs (ie, notional revenue requirement)"}]
[null,null,null,"nominal or real?",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc1'!J$181","v":121750},{"$f":"'Sc1'!K$181","v":125609.68943255041},{"$f":"'Sc1'!L$181","v":127973.45599836255},{"$f":"'Sc1'!M$181","v":129862.62929697127},{"$f":"'Sc1'!N$181","v":132450.64572414913},{"$f":"'Sc1'!O$181","v":135401.68475455191},{"$f":"'Sc1'!P$181","v":137234.9331973457},{"$f":"'Sc1'!Q$181","v":138606.80454092874},{"$f":"'Sc1'!R$181","v":140260.76407040676},{"$f":"'Sc1'!S$181","v":141180.97293575181},{"$f":"'Sc1'!T$181","v":142337.75150815889}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc2'!J$181","v":121750},{"$f":"'Sc2'!K$181","v":124314.4448159095},{"$f":"'Sc2'!L$181","v":126675.19522119363},{"$f":"'Sc2'!M$181","v":128551.27524785203},{"$f":"'Sc2'!N$181","v":131135.97097474799},{"$f":"'Sc2'!O$181","v":134083.51433053124},{"$f":"'Sc2'!P$181","v":135916.27718387102},{"$f":"'Sc2'!Q$181","v":137277.68629497214},{"$f":"'Sc2'!R$181","v":138931.13347217147},{"$f":"'Sc2'!S$181","v":139850.81602458126},{"$f":"'Sc2'!T$181","v":140997.09066524883}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc3'!J$181","v":121750},{"$f":"'Sc3'!K$181","v":124229.12924425543},{"$f":"'Sc3'!L$181","v":126568.18632040305},{"$f":"'Sc3'!M$181","v":128479.98738451203},{"$f":"'Sc3'!N$181","v":131042.50758242782},{"$f":"'Sc3'!O$181","v":133983.45941914077},{"$f":"'Sc3'!P$181","v":135810.43969016336},{"$f":"'Sc3'!Q$181","v":137166.14504218273},{"$f":"'Sc3'!R$181","v":138813.96726186996},{"$f":"'Sc3'!S$181","v":139728.1036295841},{"$f":"'Sc3'!T$181","v":140868.91084210612}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc4'!J$181","v":121750},{"$f":"'Sc4'!K$181","v":127659.96180894553},{"$f":"'Sc4'!L$181","v":130092.96359013111},{"$f":"'Sc4'!M$181","v":132102.39208004737},{"$f":"'Sc4'!N$181","v":134827.08013479688},{"$f":"'Sc4'!O$181","v":137888.50679649902},{"$f":"'Sc4'!P$181","v":139818.10480724231},{"$f":"'Sc4'!Q$181","v":141229.17785458494},{"$f":"'Sc4'!R$181","v":142905.38601073989},{"$f":"'Sc4'!S$181","v":143847.96371003267},{"$f":"'Sc4'!T$181","v":145017.23892600252}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc5'!J$181","v":121750},{"$f":"'Sc5'!K$181","v":130552.81105493769},{"$f":"'Sc5'!L$181","v":132944.5425348017},{"$f":"'Sc5'!M$181","v":134925.5710483673},{"$f":"'Sc5'!N$181","v":137638.04874296859},{"$f":"'Sc5'!O$181","v":140669.02385544399},{"$f":"'Sc5'!P$181","v":142556.26986415233},{"$f":"'Sc5'!Q$181","v":143900.29733315579},{"$f":"'Sc5'!R$181","v":145496.64891202206},{"$f":"'Sc5'!S$181","v":146357.99113934397},{"$f":"'Sc5'!T$181","v":147444.61336818617}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc6'!J$181","v":121750},{"$f":"'Sc6'!K$181","v":130552.81105493769},{"$f":"'Sc6'!L$181","v":132971.91739625286},{"$f":"'Sc6'!M$181","v":134938.6053650039},{"$f":"'Sc6'!N$181","v":137625.94036766604},{"$f":"'Sc6'!O$181","v":140634.60146521751},{"$f":"'Sc6'!P$181","v":142506.86373156009},{"$f":"'Sc6'!Q$181","v":143827.72858615511},{"$f":"'Sc6'!R$181","v":145396.44768379844},{"$f":"'Sc6'!S$181","v":146230.75582268904},{"$f":"'Sc6'!T$181","v":147284.66042010181}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc7'!J$181","v":121750},{"$f":"'Sc7'!K$181","v":130552.81105493769},{"$f":"'Sc7'!L$181","v":132971.91739625286},{"$f":"'Sc7'!M$181","v":134938.6053650039},{"$f":"'Sc7'!N$181","v":137625.94036766604},{"$f":"'Sc7'!O$181","v":140634.60146521751},{"$f":"'Sc7'!P$181","v":142506.86373156009},{"$f":"'Sc7'!Q$181","v":143827.72858615511},{"$f":"'Sc7'!R$181","v":145396.44768379844},{"$f":"'Sc7'!S$181","v":146230.75582268904},{"$f":"'Sc7'!T$181","v":147284.66042010181}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc8'!J$181","v":121750},{"$f":"'Sc8'!K$181","v":130552.81105493769},{"$f":"'Sc8'!L$181","v":132971.91739625286},{"$f":"'Sc8'!M$181","v":134938.6053650039},{"$f":"'Sc8'!N$181","v":137625.94036766604},{"$f":"'Sc8'!O$181","v":140634.60146521751},{"$f":"'Sc8'!P$181","v":142506.86373156009},{"$f":"'Sc8'!Q$181","v":143827.72858615511},{"$f":"'Sc8'!R$181","v":145396.44768379844},{"$f":"'Sc8'!S$181","v":146230.75582268904},{"$f":"'Sc8'!T$181","v":147284.66042010181}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc9'!J$181","v":121750},{"$f":"'Sc9'!K$181","v":130552.81105493769},{"$f":"'Sc9'!L$181","v":132971.91739625286},{"$f":"'Sc9'!M$181","v":134938.6053650039},{"$f":"'Sc9'!N$181","v":137625.94036766604},{"$f":"'Sc9'!O$181","v":140634.60146521751},{"$f":"'Sc9'!P$181","v":142506.86373156009},{"$f":"'Sc9'!Q$181","v":143827.72858615511},{"$f":"'Sc9'!R$181","v":145396.44768379844},{"$f":"'Sc9'!S$181","v":146230.75582268904},{"$f":"'Sc9'!T$181","v":147284.66042010181}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!K$169","v":0},null,null,null,null,null,{"$f":"'Sc10'!J$181","v":0},{"$f":"'Sc10'!K$181","v":0},{"$f":"'Sc10'!L$181","v":0},{"$f":"'Sc10'!M$181","v":0},{"$f":"'Sc10'!N$181","v":0},{"$f":"'Sc10'!O$181","v":0},{"$f":"'Sc10'!P$181","v":0},{"$f":"'Sc10'!Q$181","v":0},{"$f":"'Sc10'!R$181","v":0},{"$f":"'Sc10'!S$181","v":0},{"$f":"'Sc10'!T$181","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!K$169","v":0},null,null,null,null,null,{"$f":"'Sc11'!J$181","v":0},{"$f":"'Sc11'!K$181","v":0},{"$f":"'Sc11'!L$181","v":0},{"$f":"'Sc11'!M$181","v":0},{"$f":"'Sc11'!N$181","v":0},{"$f":"'Sc11'!O$181","v":0},{"$f":"'Sc11'!P$181","v":0},{"$f":"'Sc11'!Q$181","v":0},{"$f":"'Sc11'!R$181","v":0},{"$f":"'Sc11'!S$181","v":0},{"$f":"'Sc11'!T$181","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!K$169","v":0},null,null,null,null,null,{"$f":"'Sc12'!J$181","v":0},{"$f":"'Sc12'!K$181","v":0},{"$f":"'Sc12'!L$181","v":0},{"$f":"'Sc12'!M$181","v":0},{"$f":"'Sc12'!N$181","v":0},{"$f":"'Sc12'!O$181","v":0},{"$f":"'Sc12'!P$181","v":0},{"$f":"'Sc12'!Q$181","v":0},{"$f":"'Sc12'!R$181","v":0},{"$f":"'Sc12'!S$181","v":0},{"$f":"'Sc12'!T$181","v":0}]
[]
[]
[null,{"$f":"\"TABLE 8 - \"&'Sc1'!B$184","v":"TABLE 8 - Target revenue from tariffs"}]
[null,null,null,"nominal or real?",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc1'!J$184","v":121750},{"$f":"'Sc1'!K$184","v":124311.22385038916},{"$f":"'Sc1'!L$184","v":126916.01939031927},{"$f":"'Sc1'!M$184","v":130595.27045535241},{"$f":"'Sc1'!N$184","v":134391.06381178019},{"$f":"'Sc1'!O$184","v":139425.54411518553},{"$f":"'Sc1'!P$184","v":144597.11641763902},{"$f":"'Sc1'!Q$184","v":149909.06756016175},{"$f":"'Sc1'!R$184","v":155365.75959517754},{"$f":"'Sc1'!S$184","v":160969.66025461032},{"$f":"'Sc1'!T$184","v":166954.51075639893}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc2'!J$184","v":121750},{"$f":"'Sc2'!K$184","v":123798.17609924637},{"$f":"'Sc2'!L$184","v":125870.58504239393},{"$f":"'Sc2'!M$184","v":128984.98626073517},{"$f":"'Sc2'!N$184","v":132186.16670261865},{"$f":"'Sc2'!O$184","v":137138.04842578911},{"$f":"'Sc2'!P$184","v":142224.7729378012},{"$f":"'Sc2'!Q$184","v":147449.57315387126},{"$f":"'Sc2'!R$184","v":152816.73956008157},{"$f":"'Sc2'!S$184","v":158328.6994013263},{"$f":"'Sc2'!T$184","v":164215.3590026497}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc3'!J$184","v":121750},{"$f":"'Sc3'!K$184","v":123762.88036271202},{"$f":"'Sc3'!L$184","v":125798.82208392162},{"$f":"'Sc3'!M$184","v":128874.6941132783},{"$f":"'Sc3'!N$184","v":132035.48231153222},{"$f":"'Sc3'!O$184","v":136981.71918319666},{"$f":"'Sc3'!P$184","v":142062.64513091993},{"$f":"'Sc3'!Q$184","v":147281.48938458678},{"$f":"'Sc3'!R$184","v":152642.53753937973},{"$f":"'Sc3'!S$184","v":158148.21407327784},{"$f":"'Sc3'!T$184","v":164028.16323174862}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc4'!J$184","v":121750},{"$f":"'Sc4'!K$184","v":125167.43483985603},{"$f":"'Sc4'!L$184","v":128670.3440021889},{"$f":"'Sc4'!M$184","v":133312.37900999567},{"$f":"'Sc4'!N$184","v":138132.04170582048},{"$f":"'Sc4'!O$184","v":143306.66435938538},{"$f":"'Sc4'!P$184","v":148622.19517449714},{"$f":"'Sc4'!Q$184","v":154082.01248635261},{"$f":"'Sc4'!R$184","v":159690.59977168185},{"$f":"'Sc4'!S$184","v":165450.49345544766},{"$f":"'Sc4'!T$184","v":171601.94129482179}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc5'!J$184","v":121750},{"$f":"'Sc5'!K$184","v":126260.93871235783},{"$f":"'Sc5'!L$184","v":130928.37744348063},{"$f":"'Sc5'!M$184","v":136836.97482952621},{"$f":"'Sc5'!N$184","v":143022.73497216046},{"$f":"'Sc5'!O$184","v":148380.56994818948},{"$f":"'Sc5'!P$184","v":153884.30207013385},{"$f":"'Sc5'!Q$184","v":159537.42928628658},{"$f":"'Sc5'!R$184","v":165344.59381503673},{"$f":"'Sc5'!S$184","v":171308.4218858293},{"$f":"'Sc5'!T$184","v":177677.66745087766}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc6'!J$184","v":121750},{"$f":"'Sc6'!K$184","v":130552.81105493769},{"$f":"'Sc6'!L$184","v":132971.91739625286},{"$f":"'Sc6'!M$184","v":134938.6053650039},{"$f":"'Sc6'!N$184","v":137625.94036766604},{"$f":"'Sc6'!O$184","v":140634.60146521751},{"$f":"'Sc6'!P$184","v":142506.86373156009},{"$f":"'Sc6'!Q$184","v":143827.72858615511},{"$f":"'Sc6'!R$184","v":145396.44768379844},{"$f":"'Sc6'!S$184","v":146230.75582268904},{"$f":"'Sc6'!T$184","v":147284.66042010181}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc7'!J$184","v":121750},{"$f":"'Sc7'!K$184","v":130552.81105493769},{"$f":"'Sc7'!L$184","v":132971.91739625286},{"$f":"'Sc7'!M$184","v":134938.6053650039},{"$f":"'Sc7'!N$184","v":137625.94036766604},{"$f":"'Sc7'!O$184","v":140634.60146521751},{"$f":"'Sc7'!P$184","v":142506.86373156009},{"$f":"'Sc7'!Q$184","v":143827.72858615511},{"$f":"'Sc7'!R$184","v":145396.44768379844},{"$f":"'Sc7'!S$184","v":146230.75582268904},{"$f":"'Sc7'!T$184","v":147284.66042010181}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc8'!J$184","v":121750},{"$f":"'Sc8'!K$184","v":130552.81105493769},{"$f":"'Sc8'!L$184","v":132971.91739625286},{"$f":"'Sc8'!M$184","v":134938.6053650039},{"$f":"'Sc8'!N$184","v":137625.94036766604},{"$f":"'Sc8'!O$184","v":140634.60146521751},{"$f":"'Sc8'!P$184","v":142506.86373156009},{"$f":"'Sc8'!Q$184","v":143827.72858615511},{"$f":"'Sc8'!R$184","v":145396.44768379844},{"$f":"'Sc8'!S$184","v":146230.75582268904},{"$f":"'Sc8'!T$184","v":147284.66042010181}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!K$169","v":"2015-16 $'000"},null,null,null,null,null,{"$f":"'Sc9'!J$184","v":121750},{"$f":"'Sc9'!K$184","v":130552.81105493769},{"$f":"'Sc9'!L$184","v":132971.91739625286},{"$f":"'Sc9'!M$184","v":134938.6053650039},{"$f":"'Sc9'!N$184","v":137625.94036766604},{"$f":"'Sc9'!O$184","v":140634.60146521751},{"$f":"'Sc9'!P$184","v":142506.86373156009},{"$f":"'Sc9'!Q$184","v":143827.72858615511},{"$f":"'Sc9'!R$184","v":145396.44768379844},{"$f":"'Sc9'!S$184","v":146230.75582268904},{"$f":"'Sc9'!T$184","v":147284.66042010181}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!K$169","v":0},null,null,null,null,null,{"$f":"'Sc10'!J$184","v":0},{"$f":"'Sc10'!K$184","v":0},{"$f":"'Sc10'!L$184","v":0},{"$f":"'Sc10'!M$184","v":0},{"$f":"'Sc10'!N$184","v":0},{"$f":"'Sc10'!O$184","v":0},{"$f":"'Sc10'!P$184","v":0},{"$f":"'Sc10'!Q$184","v":0},{"$f":"'Sc10'!R$184","v":0},{"$f":"'Sc10'!S$184","v":0},{"$f":"'Sc10'!T$184","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!K$169","v":0},null,null,null,null,null,{"$f":"'Sc11'!J$184","v":0},{"$f":"'Sc11'!K$184","v":0},{"$f":"'Sc11'!L$184","v":0},{"$f":"'Sc11'!M$184","v":0},{"$f":"'Sc11'!N$184","v":0},{"$f":"'Sc11'!O$184","v":0},{"$f":"'Sc11'!P$184","v":0},{"$f":"'Sc11'!Q$184","v":0},{"$f":"'Sc11'!R$184","v":0},{"$f":"'Sc11'!S$184","v":0},{"$f":"'Sc11'!T$184","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!K$169","v":0},null,null,null,null,null,{"$f":"'Sc12'!J$184","v":0},{"$f":"'Sc12'!K$184","v":0},{"$f":"'Sc12'!L$184","v":0},{"$f":"'Sc12'!M$184","v":0},{"$f":"'Sc12'!N$184","v":0},{"$f":"'Sc12'!O$184","v":0},{"$f":"'Sc12'!P$184","v":0},{"$f":"'Sc12'!Q$184","v":0},{"$f":"'Sc12'!R$184","v":0},{"$f":"'Sc12'!S$184","v":0},{"$f":"'Sc12'!T$184","v":0}]
[]
[]
[null,"TABLE 9 - Implied real return on RAB (from target revenue from tariffs)"]
[null,null,null,null,null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"},"NPV difference between target "]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"and expected revenue from tariffs"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"<0 means under-recovery"]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,{"$f":"'Sc1'!J$185","v":4.72518708687567E-2},{"$f":"'Sc1'!K$185","v":4.5441840293128505E-2},{"$f":"'Sc1'!L$185","v":4.5758563832687664E-2},{"$f":"'Sc1'!M$185","v":4.7836572206748286E-2},{"$f":"'Sc1'!N$185","v":4.9129277496929927E-2},{"$f":"'Sc1'!O$185","v":5.1288439974724105E-2},{"$f":"'Sc1'!P$185","v":5.465501520307664E-2},{"$f":"'Sc1'!Q$185","v":5.8607853009171665E-2},{"$f":"'Sc1'!R$185","v":6.2415072771716297E-2},{"$f":"'Sc1'!S$185","v":6.7067949045040057E-2},{"$f":"'Sc1'!T$185","v":7.1808682073597932E-2},{"$f":"'Sc1'!K$189","v":-6.8661756813526154E-6},{"$f":"IF(ROUND(U327,0)>0,\"Over recovering\",IF(ROUND(U327,0)<0,\"Under recovering\",\"ok\"))","v":"ok"}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,{"$f":"'Sc2'!J$185","v":4.8994836566922599E-2},{"$f":"'Sc2'!K$185","v":4.6380477139113828E-2},{"$f":"'Sc2'!L$185","v":4.6055383397026549E-2},{"$f":"'Sc2'!M$185","v":4.7495236412789597E-2},{"$f":"'Sc2'!N$185","v":4.8152410475340884E-2},{"$f":"'Sc2'!O$185","v":5.0255378715870144E-2},{"$f":"'Sc2'!P$185","v":5.3559417153836657E-2},{"$f":"'Sc2'!Q$185","v":5.7446913797980177E-2},{"$f":"'Sc2'!R$185","v":6.1170651555209163E-2},{"$f":"'Sc2'!S$185","v":6.5738646787921587E-2},{"$f":"'Sc2'!T$185","v":7.0399287927115917E-2},{"$f":"'Sc2'!K$189","v":2.5433837436139584E-6},"ok"]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,{"$f":"'Sc3'!J$185","v":4.9024370024107637E-2},{"$f":"'Sc3'!K$185","v":4.6439394587099378E-2},{"$f":"'Sc3'!L$185","v":4.6094914852207243E-2},{"$f":"'Sc3'!M$185","v":4.7451239615652785E-2},{"$f":"'Sc3'!N$185","v":4.8091220850979506E-2},{"$f":"'Sc3'!O$185","v":5.0200250137987928E-2},{"$f":"'Sc3'!P$185","v":5.3511010667371434E-2},{"$f":"'Sc3'!Q$185","v":5.7405599983383432E-2},{"$f":"'Sc3'!R$185","v":6.1136092321830662E-2},{"$f":"'Sc3'!S$185","v":6.5712484027969129E-2},{"$f":"'Sc3'!T$185","v":7.0381675617988498E-2},{"$f":"'Sc3'!K$189","v":2.8010108508169651E-6},"ok"]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,{"$f":"'Sc4'!J$185","v":4.9024370024107637E-2},{"$f":"'Sc4'!K$185","v":4.7997331645000731E-2},{"$f":"'Sc4'!L$185","v":4.9323227104349672E-2},{"$f":"'Sc4'!M$185","v":5.2385930291145306E-2},{"$f":"'Sc4'!N$185","v":5.4638889694880392E-2},{"$f":"'Sc4'!O$185","v":5.6794211128127554E-2},{"$f":"'Sc4'!P$185","v":6.0186026112540994E-2},{"$f":"'Sc4'!Q$185","v":6.4246873592541359E-2},{"$f":"'Sc4'!R$185","v":6.819123136681296E-2},{"$f":"'Sc4'!S$185","v":7.2987296949567876E-2},{"$f":"'Sc4'!T$185","v":7.7891245346537477E-2},{"$f":"'Sc4'!K$189","v":-9.821384446695447E-5},"ok"]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,{"$f":"'Sc5'!J$185","v":4.9024370024107637E-2},{"$f":"'Sc5'!K$185","v":4.582971722008343E-2},{"$f":"'Sc5'!L$185","v":4.8617378680282285E-2},{"$f":"'Sc5'!M$185","v":5.3200722997444792E-2},{"$f":"'Sc5'!N$185","v":5.6973912078107883E-2},{"$f":"'Sc5'!O$185","v":5.9329598779721632E-2},{"$f":"'Sc5'!P$185","v":6.2966775918315329E-2},{"$f":"'Sc5'!Q$185","v":6.7358776147628419E-2},{"$f":"'Sc5'!R$185","v":7.1688027810842062E-2},{"$f":"'Sc5'!S$185","v":7.6913248389565286E-2},{"$f":"'Sc5'!T$185","v":8.2289613809549869E-2},{"$f":"'Sc5'!K$189","v":1.6705598682165146E-8},"ok"]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,{"$f":"'Sc6'!J$185","v":4.9024370024107637E-2},{"$f":"'Sc6'!K$185","v":5.0999999999999997E-2},{"$f":"'Sc6'!L$185","v":5.0999999999999955E-2},{"$f":"'Sc6'!M$185","v":5.0999999999999976E-2},{"$f":"'Sc6'!N$185","v":5.0999999999999997E-2},{"$f":"'Sc6'!O$185","v":5.1000000000000031E-2},{"$f":"'Sc6'!P$185","v":5.0999999999999969E-2},{"$f":"'Sc6'!Q$185","v":5.0999999999999983E-2},{"$f":"'Sc6'!R$185","v":5.1000000000000011E-2},{"$f":"'Sc6'!S$185","v":5.1000000000000004E-2},{"$f":"'Sc6'!T$185","v":5.0999999999999997E-2},{"$f":"'Sc6'!K$189","v":0},"ok"]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,{"$f":"'Sc7'!J$185","v":4.9024370024107637E-2},{"$f":"'Sc7'!K$185","v":5.0999999999999997E-2},{"$f":"'Sc7'!L$185","v":5.0999999999999955E-2},{"$f":"'Sc7'!M$185","v":5.0999999999999976E-2},{"$f":"'Sc7'!N$185","v":5.0999999999999997E-2},{"$f":"'Sc7'!O$185","v":5.1000000000000031E-2},{"$f":"'Sc7'!P$185","v":5.0999999999999969E-2},{"$f":"'Sc7'!Q$185","v":5.0999999999999983E-2},{"$f":"'Sc7'!R$185","v":5.1000000000000011E-2},{"$f":"'Sc7'!S$185","v":5.1000000000000004E-2},{"$f":"'Sc7'!T$185","v":5.0999999999999997E-2},{"$f":"'Sc7'!K$189","v":0},"ok"]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,{"$f":"'Sc8'!J$185","v":4.9024370024107637E-2},{"$f":"'Sc8'!K$185","v":5.0999999999999997E-2},{"$f":"'Sc8'!L$185","v":5.0999999999999955E-2},{"$f":"'Sc8'!M$185","v":5.0999999999999976E-2},{"$f":"'Sc8'!N$185","v":5.0999999999999997E-2},{"$f":"'Sc8'!O$185","v":5.1000000000000031E-2},{"$f":"'Sc8'!P$185","v":5.0999999999999969E-2},{"$f":"'Sc8'!Q$185","v":5.0999999999999983E-2},{"$f":"'Sc8'!R$185","v":5.1000000000000011E-2},{"$f":"'Sc8'!S$185","v":5.1000000000000004E-2},{"$f":"'Sc8'!T$185","v":5.0999999999999997E-2},{"$f":"'Sc8'!K$189","v":0},"ok"]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!$E$89","v":"Real post-tax WACC (rounded)"},null,null,null,null,null,{"$f":"'Sc9'!J$185","v":4.9024370024107637E-2},{"$f":"'Sc9'!K$185","v":5.0999999999999997E-2},{"$f":"'Sc9'!L$185","v":5.0999999999999955E-2},{"$f":"'Sc9'!M$185","v":5.0999999999999976E-2},{"$f":"'Sc9'!N$185","v":5.0999999999999997E-2},{"$f":"'Sc9'!O$185","v":5.1000000000000031E-2},{"$f":"'Sc9'!P$185","v":5.0999999999999969E-2},{"$f":"'Sc9'!Q$185","v":5.0999999999999983E-2},{"$f":"'Sc9'!R$185","v":5.1000000000000011E-2},{"$f":"'Sc9'!S$185","v":5.1000000000000004E-2},{"$f":"'Sc9'!T$185","v":5.0999999999999997E-2},{"$f":"'Sc9'!K$189","v":0},"ok"]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!$E$89","v":0},null,null,null,null,null,{"$f":"'Sc10'!J$185","v":0},{"$f":"'Sc10'!K$185","v":0},{"$f":"'Sc10'!L$185","v":0},{"$f":"'Sc10'!M$185","v":0},{"$f":"'Sc10'!N$185","v":0},{"$f":"'Sc10'!O$185","v":0},{"$f":"'Sc10'!P$185","v":0},{"$f":"'Sc10'!Q$185","v":0},{"$f":"'Sc10'!R$185","v":0},{"$f":"'Sc10'!S$185","v":0},{"$f":"'Sc10'!T$185","v":0},{"$f":"'Sc10'!K$189","v":0},"ok"]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!$E$89","v":0},null,null,null,null,null,{"$f":"'Sc11'!J$185","v":0},{"$f":"'Sc11'!K$185","v":0},{"$f":"'Sc11'!L$185","v":0},{"$f":"'Sc11'!M$185","v":0},{"$f":"'Sc11'!N$185","v":0},{"$f":"'Sc11'!O$185","v":0},{"$f":"'Sc11'!P$185","v":0},{"$f":"'Sc11'!Q$185","v":0},{"$f":"'Sc11'!R$185","v":0},{"$f":"'Sc11'!S$185","v":0},{"$f":"'Sc11'!T$185","v":0},{"$f":"'Sc11'!K$189","v":0},"ok"]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!$E$89","v":0},null,null,null,null,null,{"$f":"'Sc12'!J$185","v":0},{"$f":"'Sc12'!K$185","v":0},{"$f":"'Sc12'!L$185","v":0},{"$f":"'Sc12'!M$185","v":0},{"$f":"'Sc12'!N$185","v":0},{"$f":"'Sc12'!O$185","v":0},{"$f":"'Sc12'!P$185","v":0},{"$f":"'Sc12'!Q$185","v":0},{"$f":"'Sc12'!R$185","v":0},{"$f":"'Sc12'!S$185","v":0},{"$f":"'Sc12'!T$185","v":0},{"$f":"'Sc12'!K$189","v":0},{"$f":"IF(ROUND(U338,0)>0,\"Over recovering\",IF(ROUND(U338,0)<0,\"Under recovering\",\"ok\"))","v":"ok"}]
[]
[]
[null,"CUSTOMER BILLS"]
[null,"unhide rows to see table contents"]
[]
[null,"TABLE 10 - Increase in bills of non-pensioner residential customers"]
[null,null,null,null,null,null,null,null,null,null,{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!B$241","v":"Medium customer (200 kL pa)"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!C$242","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc1'!K$242","v":9.9747232601377078E-3},{"$f":"'Sc1'!L$242","v":9.9747232601377078E-3},{"$f":"'Sc1'!M$242","v":9.9747232601374858E-3},{"$f":"'Sc1'!N$242","v":9.9747232601377078E-3},{"$f":"'Sc1'!O$242","v":1.6984737957324247E-2},{"$f":"'Sc1'!P$242","v":1.6984737957324247E-2},{"$f":"'Sc1'!Q$242","v":1.6984737957324247E-2},{"$f":"'Sc1'!R$242","v":1.6984737957324247E-2},{"$f":"'Sc1'!S$242","v":1.6984737957324247E-2},{"$f":"'Sc1'!T$242","v":1.6984737957324247E-2}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!C$242","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc2'!K$242","v":5.8064330251119678E-3},{"$f":"'Sc2'!L$242","v":5.8064330251121898E-3},{"$f":"'Sc2'!M$242","v":5.8064330251119678E-3},{"$f":"'Sc2'!N$242","v":5.8064330251119678E-3},{"$f":"'Sc2'!O$242","v":1.6984737957324469E-2},{"$f":"'Sc2'!P$242","v":1.6984737957324247E-2},{"$f":"'Sc2'!Q$242","v":1.6984737957324247E-2},{"$f":"'Sc2'!R$242","v":1.6984737957324247E-2},{"$f":"'Sc2'!S$242","v":1.6984737957324247E-2},{"$f":"'Sc2'!T$242","v":1.6984737957324469E-2}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!C$242","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc3'!K$242","v":5.5196704896434134E-3},{"$f":"'Sc3'!L$242","v":5.5196704896434134E-3},{"$f":"'Sc3'!M$242","v":5.5196704896434134E-3},{"$f":"'Sc3'!N$242","v":5.5196704896434134E-3},{"$f":"'Sc3'!O$242","v":1.6984737957324469E-2},{"$f":"'Sc3'!P$242","v":1.6984737957324469E-2},{"$f":"'Sc3'!Q$242","v":1.6984737957324247E-2},{"$f":"'Sc3'!R$242","v":1.6984737957324247E-2},{"$f":"'Sc3'!S$242","v":1.6984737957324469E-2},{"$f":"'Sc3'!T$242","v":1.6984737957324025E-2}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!C$242","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc4'!K$242","v":1.6931065820000146E-2},{"$f":"'Sc4'!L$242","v":1.693106582000059E-2},{"$f":"'Sc4'!M$242","v":1.6931065820000368E-2},{"$f":"'Sc4'!N$242","v":1.6931065820000368E-2},{"$f":"'Sc4'!O$242","v":1.6984737957324247E-2},{"$f":"'Sc4'!P$242","v":1.6984737957324247E-2},{"$f":"'Sc4'!Q$242","v":1.6984737957324247E-2},{"$f":"'Sc4'!R$242","v":1.6984737957324247E-2},{"$f":"'Sc4'!S$242","v":1.6984737957324247E-2},{"$f":"'Sc4'!T$242","v":1.6984737957324469E-2}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!C$242","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc5'!K$242","v":2.5815310032277772E-2},{"$f":"'Sc5'!L$242","v":2.5815310032277328E-2},{"$f":"'Sc5'!M$242","v":2.5815310032277772E-2},{"$f":"'Sc5'!N$242","v":2.581531003227755E-2},{"$f":"'Sc5'!O$242","v":1.6984737957324247E-2},{"$f":"'Sc5'!P$242","v":1.6984737957324247E-2},{"$f":"'Sc5'!Q$242","v":1.6984737957324247E-2},{"$f":"'Sc5'!R$242","v":1.6984737957324247E-2},{"$f":"'Sc5'!S$242","v":1.6984737957324247E-2},{"$f":"'Sc5'!T$242","v":1.6984737957324247E-2}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!C$242","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc6'!K$242","v":6.8043709179120171E-2},{"$f":"'Sc6'!L$242","v":8.142491513160266E-3},{"$f":"'Sc6'!M$242","v":-4.1409556471986297E-3},{"$f":"'Sc6'!N$242","v":1.3711194591448095E-3},{"$f":"'Sc6'!O$242","v":2.247786935417162E-3},{"$f":"'Sc6'!P$242","v":-6.8034177056933709E-3},{"$f":"'Sc6'!Q$242","v":-1.0996261933327589E-2},{"$f":"'Sc6'!R$242","v":-8.9233883322104024E-3},{"$f":"'Sc6'!S$242","v":-1.4452522862507755E-2},{"$f":"'Sc6'!T$242","v":-1.4124201808383807E-2}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!C$242","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc7'!K$242","v":5.9555338939829339E-2},{"$f":"'Sc7'!L$242","v":8.5100275897211919E-3},{"$f":"'Sc7'!M$242","v":-4.4468449734705873E-3},{"$f":"'Sc7'!N$242","v":1.0971566269710742E-3},{"$f":"'Sc7'!O$242","v":1.8910448832638593E-3},{"$f":"'Sc7'!P$242","v":-7.2117430935130233E-3},{"$f":"'Sc7'!Q$242","v":-1.1423740852913422E-2},{"$f":"'Sc7'!R$242","v":-9.3137605648578869E-3},{"$f":"'Sc7'!S$242","v":-1.4880997279774322E-2},{"$f":"'Sc7'!T$242","v":-1.4646885604365112E-2}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!C$242","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc8'!K$242","v":5.9555338939829339E-2},{"$f":"'Sc8'!L$242","v":8.5100275897211919E-3},{"$f":"'Sc8'!M$242","v":-4.4468449734705873E-3},{"$f":"'Sc8'!N$242","v":1.0971566269710742E-3},{"$f":"'Sc8'!O$242","v":1.8910448832638593E-3},{"$f":"'Sc8'!P$242","v":-7.2117430935130233E-3},{"$f":"'Sc8'!Q$242","v":-1.1423740852913422E-2},{"$f":"'Sc8'!R$242","v":-9.3137605648578869E-3},{"$f":"'Sc8'!S$242","v":-1.4880997279774322E-2},{"$f":"'Sc8'!T$242","v":-1.4646885604365112E-2}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!C$242","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc9'!K$242","v":5.9555338939829339E-2},{"$f":"'Sc9'!L$242","v":8.5100275897211919E-3},{"$f":"'Sc9'!M$242","v":-4.4468449734705873E-3},{"$f":"'Sc9'!N$242","v":1.0971566269710742E-3},{"$f":"'Sc9'!O$242","v":1.8910448832638593E-3},{"$f":"'Sc9'!P$242","v":-7.2117430935130233E-3},{"$f":"'Sc9'!Q$242","v":-1.1423740852913422E-2},{"$f":"'Sc9'!R$242","v":-9.3137605648578869E-3},{"$f":"'Sc9'!S$242","v":-1.4880997279774322E-2},{"$f":"'Sc9'!T$242","v":-1.4646885604365112E-2}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!C$242","v":0},null,null,null,null,null,null,{"$f":"'Sc10'!K$242","v":0},{"$f":"'Sc10'!L$242","v":0},{"$f":"'Sc10'!M$242","v":0},{"$f":"'Sc10'!N$242","v":0},{"$f":"'Sc10'!O$242","v":0},{"$f":"'Sc10'!P$242","v":0},{"$f":"'Sc10'!Q$242","v":0},{"$f":"'Sc10'!R$242","v":0},{"$f":"'Sc10'!S$242","v":0},{"$f":"'Sc10'!T$242","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!C$242","v":0},null,null,null,null,null,null,{"$f":"'Sc11'!K$242","v":0},{"$f":"'Sc11'!L$242","v":0},{"$f":"'Sc11'!M$242","v":0},{"$f":"'Sc11'!N$242","v":0},{"$f":"'Sc11'!O$242","v":0},{"$f":"'Sc11'!P$242","v":0},{"$f":"'Sc11'!Q$242","v":0},{"$f":"'Sc11'!R$242","v":0},{"$f":"'Sc11'!S$242","v":0},{"$f":"'Sc11'!T$242","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!C$242","v":0},null,null,null,null,null,null,{"$f":"'Sc12'!K$242","v":0},{"$f":"'Sc12'!L$242","v":0},{"$f":"'Sc12'!M$242","v":0},{"$f":"'Sc12'!N$242","v":0},{"$f":"'Sc12'!O$242","v":0},{"$f":"'Sc12'!P$242","v":0},{"$f":"'Sc12'!Q$242","v":0},{"$f":"'Sc12'!R$242","v":0},{"$f":"'Sc12'!S$242","v":0},{"$f":"'Sc12'!T$242","v":0}]
[]
[]
[null,"TABLE 11 - Increase in pensioner bills"]
[null,null,null,null,null,null,null,null,null,null,{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!B$249","v":"Medium customer (200 kL pa)"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!C$250","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc1'!K$250","v":1.2087017597578686E-2},{"$f":"'Sc1'!L$250","v":1.2061791171012581E-2},{"$f":"'Sc1'!M$250","v":1.2036917415753301E-2},{"$f":"'Sc1'!N$250","v":1.2012390187231103E-2},{"$f":"'Sc1'!O$250","v":2.0413247498659137E-2},{"$f":"'Sc1'!P$250","v":2.0344660566854245E-2},{"$f":"'Sc1'!Q$250","v":2.027766704234879E-2},{"$f":"'Sc1'!R$250","v":2.0212221211535208E-2},{"$f":"'Sc1'!S$250","v":2.0148279019769122E-2},{"$f":"'Sc1'!T$250","v":2.0085797996836074E-2}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!C$250","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc2'!K$250","v":7.0360306069003897E-3},{"$f":"'Sc2'!L$250","v":7.0274395674971846E-3},{"$f":"'Sc2'!M$250","v":7.0189188963105664E-3},{"$f":"'Sc2'!N$250","v":7.0104678733624581E-3},{"$f":"'Sc2'!O$250","v":2.048221201396716E-2},{"$f":"'Sc2'!P$250","v":2.0412013823054576E-2},{"$f":"'Sc2'!Q$250","v":2.0343455631462337E-2},{"$f":"'Sc2'!R$250","v":2.0276490019436988E-2},{"$f":"'Sc2'!S$250","v":2.0211071303543049E-2},{"$f":"'Sc2'!T$250","v":2.0147155457946653E-2}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!C$250","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc3'!K$250","v":6.6885418874502722E-3},{"$f":"'Sc3'!L$250","v":6.6807757860394279E-3},{"$f":"'Sc3'!M$250","v":6.6730701813078053E-3},{"$f":"'Sc3'!N$250","v":6.6654244844897015E-3},{"$f":"'Sc3'!O$250","v":2.0487026525060958E-2},{"$f":"'Sc3'!P$250","v":2.0416715509907757E-2},{"$f":"'Sc3'!Q$250","v":2.0348047770284428E-2},{"$f":"'Sc3'!R$250","v":2.0280975765893716E-2},{"$f":"'Sc3'!S$250","v":2.0215453698245733E-2},{"$f":"'Sc3'!T$250","v":2.0151437431646047E-2}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!C$250","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc4'!K$250","v":2.0516467993647369E-2},{"$f":"'Sc4'!L$250","v":2.0444387051059332E-2},{"$f":"'Sc4'!M$250","v":2.0373998404706661E-2},{"$f":"'Sc4'!N$250","v":2.0305252726065204E-2},{"$f":"'Sc4'!O$250","v":2.0302258082581348E-2},{"$f":"'Sc4'!P$250","v":2.0236245144509724E-2},{"$f":"'Sc4'!Q$250","v":2.0171751948113048E-2},{"$f":"'Sc4'!R$250","v":2.010873544569125E-2},{"$f":"'Sc4'!S$250","v":2.0047154129068989E-2},{"$f":"'Sc4'!T$250","v":1.9986967961445723E-2}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!C$250","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc5'!K$250","v":3.1282081568524855E-2},{"$f":"'Sc5'!L$250","v":3.1116256915725948E-2},{"$f":"'Sc5'!M$250","v":3.0956288896586193E-2},{"$f":"'Sc5'!N$250","v":3.0801921899023643E-2},{"$f":"'Sc5'!O$250","v":2.0167556300852318E-2},{"$f":"'Sc5'!P$250","v":2.0104635589698328E-2},{"$f":"'Sc5'!Q$250","v":2.0043147382716953E-2},{"$f":"'Sc5'!R$250","v":1.9983051737716861E-2},{"$f":"'Sc5'!S$250","v":1.9924310115199351E-2},{"$f":"'Sc5'!T$250","v":1.9866885317399552E-2}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!C$250","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc6'!K$250","v":8.2452965240580989E-2},{"$f":"'Sc6'!L$250","v":9.7354404687306495E-3},{"$f":"'Sc6'!M$250","v":-4.9432569992736708E-3},{"$f":"'Sc6'!N$250","v":1.6380906462460931E-3},{"$f":"'Sc6'!O$250","v":2.6847386110655513E-3},{"$f":"'Sc6'!P$250","v":-8.1224061709070927E-3},{"$f":"'Sc6'!Q$250","v":-1.3145580835642545E-2},{"$f":"'Sc6'!R$250","v":-1.0690778704330328E-2},{"$f":"'Sc6'!S$250","v":-1.7345961653429498E-2},{"$f":"'Sc6'!T$250","v":-1.7001824870501614E-2}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!C$250","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc7'!K$250","v":7.2167057774146226E-2},{"$f":"'Sc7'!L$250","v":1.0190850999208578E-2},{"$f":"'Sc7'!M$250","v":-5.3162850967365394E-3},{"$f":"'Sc7'!N$250","v":1.3128174766816603E-3},{"$f":"'Sc7'!O$250","v":2.2622677692067938E-3},{"$f":"'Sc7'!P$250","v":-8.6242538783629641E-3},{"$f":"'Sc7'!Q$250","v":-1.3680688982475875E-2},{"$f":"'Sc7'!R$250","v":-1.1179370166468861E-2},{"$f":"'Sc7'!S$250","v":-1.7895462086600311E-2},{"$f":"'Sc7'!T$250","v":-1.7667990137401057E-2}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!C$250","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc8'!K$250","v":7.2167057774146226E-2},{"$f":"'Sc8'!L$250","v":1.0190850999208578E-2},{"$f":"'Sc8'!M$250","v":-5.3162850967365394E-3},{"$f":"'Sc8'!N$250","v":1.3128174766816603E-3},{"$f":"'Sc8'!O$250","v":2.2622677692067938E-3},{"$f":"'Sc8'!P$250","v":-8.6242538783629641E-3},{"$f":"'Sc8'!Q$250","v":-1.3680688982475875E-2},{"$f":"'Sc8'!R$250","v":-1.1179370166468861E-2},{"$f":"'Sc8'!S$250","v":-1.7895462086600311E-2},{"$f":"'Sc8'!T$250","v":-1.7667990137401057E-2}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!C$250","v":"real % pa"},null,null,null,null,null,null,{"$f":"'Sc9'!K$250","v":7.2167057774146226E-2},{"$f":"'Sc9'!L$250","v":1.0190850999208578E-2},{"$f":"'Sc9'!M$250","v":-5.3162850967365394E-3},{"$f":"'Sc9'!N$250","v":1.3128174766816603E-3},{"$f":"'Sc9'!O$250","v":2.2622677692067938E-3},{"$f":"'Sc9'!P$250","v":-8.6242538783629641E-3},{"$f":"'Sc9'!Q$250","v":-1.3680688982475875E-2},{"$f":"'Sc9'!R$250","v":-1.1179370166468861E-2},{"$f":"'Sc9'!S$250","v":-1.7895462086600311E-2},{"$f":"'Sc9'!T$250","v":-1.7667990137401057E-2}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!C$250","v":0},null,null,null,null,null,null,{"$f":"'Sc10'!K$250","v":0},{"$f":"'Sc10'!L$250","v":0},{"$f":"'Sc10'!M$250","v":0},{"$f":"'Sc10'!N$250","v":0},{"$f":"'Sc10'!O$250","v":0},{"$f":"'Sc10'!P$250","v":0},{"$f":"'Sc10'!Q$250","v":0},{"$f":"'Sc10'!R$250","v":0},{"$f":"'Sc10'!S$250","v":0},{"$f":"'Sc10'!T$250","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!C$250","v":0},null,null,null,null,null,null,{"$f":"'Sc11'!K$250","v":0},{"$f":"'Sc11'!L$250","v":0},{"$f":"'Sc11'!M$250","v":0},{"$f":"'Sc11'!N$250","v":0},{"$f":"'Sc11'!O$250","v":0},{"$f":"'Sc11'!P$250","v":0},{"$f":"'Sc11'!Q$250","v":0},{"$f":"'Sc11'!R$250","v":0},{"$f":"'Sc11'!S$250","v":0},{"$f":"'Sc11'!T$250","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!C$250","v":0},null,null,null,null,null,null,{"$f":"'Sc12'!K$250","v":0},{"$f":"'Sc12'!L$250","v":0},{"$f":"'Sc12'!M$250","v":0},{"$f":"'Sc12'!N$250","v":0},{"$f":"'Sc12'!O$250","v":0},{"$f":"'Sc12'!P$250","v":0},{"$f":"'Sc12'!Q$250","v":0},{"$f":"'Sc12'!R$250","v":0},{"$f":"'Sc12'!S$250","v":0},{"$f":"'Sc12'!T$250","v":0}]
[]
[]
[null,"TABLE 12 - Bills for non-pensioner residential customers ($/year)"]
[null,null,null,"nominal or real?",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!B$241","v":"Medium customer (200 kL pa)"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc1'!J$241","v":515},{"$f":"'Sc1'!K$241","v":520.13698247897094},{"$f":"'Sc1'!L$241","v":525.32520493656182},{"$f":"'Sc1'!M$241","v":530.56517847737905},{"$f":"'Sc1'!N$241","v":535.85741930415645},{"$f":"'Sc1'!O$241","v":544.95881715352562},{"$f":"'Sc1'!P$241","v":554.21479986041163},{"$f":"'Sc1'!Q$241","v":563.62799300811162},{"$f":"'Sc1'!R$241","v":573.20106677476701},{"$f":"'Sc1'!S$241","v":582.9367366907951},{"$f":"'Sc1'!T$241","v":592.83776440918598}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc2'!J$241","v":515},{"$f":"'Sc2'!K$241","v":517.99031300793263},{"$f":"'Sc2'!L$241","v":520.99798906807007},{"$f":"'Sc2'!M$241","v":524.0231289978118},{"$f":"'Sc2'!N$241","v":527.06583419994718},{"$f":"'Sc2'!O$241","v":536.01790928009189},{"$f":"'Sc2'!P$241","v":545.122033009647},{"$f":"'Sc2'!Q$241","v":554.38078789507972},{"$f":"'Sc2'!R$241","v":563.79680030605255},{"$f":"'Sc2'!S$241","v":573.37274122042868},{"$f":"'Sc2'!T$241","v":583.11132698193046}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc3'!J$241","v":515},{"$f":"'Sc3'!K$241","v":517.84263030216641},{"$f":"'Sc3'!L$241","v":520.70095098692457},{"$f":"'Sc3'!M$241","v":523.57504866001636},{"$f":"'Sc3'!N$241","v":526.46501040521866},{"$f":"'Sc3'!O$241","v":535.40688065065137},{"$f":"'Sc3'!P$241","v":544.50062621905113},{"$f":"'Sc3'!Q$241","v":553.74882667298061},{"$f":"'Sc3'!R$241","v":563.15410538819697},{"$f":"'Sc3'!S$241","v":572.71913029780694},{"$f":"'Sc3'!T$241","v":582.44661464906176}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc4'!J$241","v":515},{"$f":"'Sc4'!K$241","v":523.71949889730013},{"$f":"'Sc4'!L$241","v":532.58662820434802},{"$f":"'Sc4'!M$241","v":541.60388746132787},{"$f":"'Sc4'!N$241","v":550.77381852830365},{"$f":"'Sc4'!O$241","v":560.12856750976175},{"$f":"'Sc4'!P$241","v":569.64220445132651},{"$f":"'Sc4'!Q$241","v":579.31742802336476},{"$f":"'Sc4'!R$241","v":589.15698273245266},{"$f":"'Sc4'!S$241","v":599.16365969989113},{"$f":"'Sc4'!T$241","v":609.34029745344526}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc5'!J$241","v":515},{"$f":"'Sc5'!K$241","v":528.29488466662303},{"$f":"'Sc5'!L$241","v":541.93298090275812},{"$f":"'Sc5'!M$241","v":555.92314882147923},{"$f":"'Sc5'!N$241","v":570.27447726242565},{"$f":"'Sc5'!O$241","v":579.96043982247807},{"$f":"'Sc5'!P$241","v":589.81091591847735},{"$f":"'Sc5'!Q$241","v":599.82869976972211},{"$f":"'Sc5'!R$241","v":610.0166330545934},{"$f":"'Sc5'!S$241","v":620.37760571663489},{"$f":"'Sc5'!T$241","v":630.91455678432419}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc6'!J$241","v":515},{"$f":"'Sc6'!K$241","v":550.04251022724691},{"$f":"'Sc6'!L$241","v":554.52122669864968},{"$f":"'Sc6'!M$241","v":552.22497889346039},{"$f":"'Sc6'!N$241","v":552.98214530784708},{"$f":"'Sc6'!O$241","v":554.22513134958899},{"$f":"'Sc6'!P$241","v":550.45450627802495},{"$f":"'Sc6'!Q$241","v":544.4015643446113},{"$f":"'Sc6'!R$241","v":539.54365777730152},{"$f":"'Sc6'!S$241","v":531.74589072795402},{"$f":"'Sc6'!T$241","v":524.23540445653362}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc7'!J$241","v":515},{"$f":"'Sc7'!K$241","v":545.67099955401216},{"$f":"'Sc7'!L$241","v":550.31467481512755},{"$f":"'Sc7'!M$241","v":547.86751076959877},{"$f":"'Sc7'!N$241","v":548.4686072397418},{"$f":"'Sc7'!O$241","v":549.50578599309335},{"$f":"'Sc7'!P$241","v":545.5428914361122},{"$f":"'Sc7'!Q$241","v":539.31075082019697},{"$f":"'Sc7'!R$241","v":534.28773961700392},{"$f":"'Sc7'!S$241","v":526.3370052171465},{"$f":"'Sc7'!T$241","v":518.62780731238684}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc8'!J$241","v":515},{"$f":"'Sc8'!K$241","v":545.67099955401216},{"$f":"'Sc8'!L$241","v":550.31467481512755},{"$f":"'Sc8'!M$241","v":547.86751076959877},{"$f":"'Sc8'!N$241","v":548.4686072397418},{"$f":"'Sc8'!O$241","v":549.50578599309335},{"$f":"'Sc8'!P$241","v":545.5428914361122},{"$f":"'Sc8'!Q$241","v":539.31075082019697},{"$f":"'Sc8'!R$241","v":534.28773961700392},{"$f":"'Sc8'!S$241","v":526.3370052171465},{"$f":"'Sc8'!T$241","v":518.62780731238684}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc9'!J$241","v":515},{"$f":"'Sc9'!K$241","v":545.67099955401216},{"$f":"'Sc9'!L$241","v":550.31467481512755},{"$f":"'Sc9'!M$241","v":547.86751076959877},{"$f":"'Sc9'!N$241","v":548.4686072397418},{"$f":"'Sc9'!O$241","v":549.50578599309335},{"$f":"'Sc9'!P$241","v":545.5428914361122},{"$f":"'Sc9'!Q$241","v":539.31075082019697},{"$f":"'Sc9'!R$241","v":534.28773961700392},{"$f":"'Sc9'!S$241","v":526.3370052171465},{"$f":"'Sc9'!T$241","v":518.62780731238684}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!J$38","v":0},null,null,null,null,null,{"$f":"'Sc10'!J$241","v":0},{"$f":"'Sc10'!K$241","v":0},{"$f":"'Sc10'!L$241","v":0},{"$f":"'Sc10'!M$241","v":0},{"$f":"'Sc10'!N$241","v":0},{"$f":"'Sc10'!O$241","v":0},{"$f":"'Sc10'!P$241","v":0},{"$f":"'Sc10'!Q$241","v":0},{"$f":"'Sc10'!R$241","v":0},{"$f":"'Sc10'!S$241","v":0},{"$f":"'Sc10'!T$241","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!J$38","v":0},null,null,null,null,null,{"$f":"'Sc11'!J$241","v":0},{"$f":"'Sc11'!K$241","v":0},{"$f":"'Sc11'!L$241","v":0},{"$f":"'Sc11'!M$241","v":0},{"$f":"'Sc11'!N$241","v":0},{"$f":"'Sc11'!O$241","v":0},{"$f":"'Sc11'!P$241","v":0},{"$f":"'Sc11'!Q$241","v":0},{"$f":"'Sc11'!R$241","v":0},{"$f":"'Sc11'!S$241","v":0},{"$f":"'Sc11'!T$241","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!J$38","v":0},null,null,null,null,null,{"$f":"'Sc12'!J$241","v":0},{"$f":"'Sc12'!K$241","v":0},{"$f":"'Sc12'!L$241","v":0},{"$f":"'Sc12'!M$241","v":0},{"$f":"'Sc12'!N$241","v":0},{"$f":"'Sc12'!O$241","v":0},{"$f":"'Sc12'!P$241","v":0},{"$f":"'Sc12'!Q$241","v":0},{"$f":"'Sc12'!R$241","v":0},{"$f":"'Sc12'!S$241","v":0},{"$f":"'Sc12'!T$241","v":0}]
[]
[]
[null,"TABLE 13 - Bills for pensioner residential customers ($/year)"]
[null,null,null,"nominal or real?",null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!B$249","v":"Medium customer (200 kL pa)"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},{"$f":"'Sc1'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc1'!J$249","v":425},{"$f":"'Sc1'!K$249","v":430.13698247897094},{"$f":"'Sc1'!L$249","v":435.32520493656182},{"$f":"'Sc1'!M$249","v":440.56517847737905},{"$f":"'Sc1'!N$249","v":445.85741930415645},{"$f":"'Sc1'!O$249","v":454.95881715352562},{"$f":"'Sc1'!P$249","v":464.21479986041163},{"$f":"'Sc1'!Q$249","v":473.62799300811162},{"$f":"'Sc1'!R$249","v":483.20106677476701},{"$f":"'Sc1'!S$249","v":492.9367366907951},{"$f":"'Sc1'!T$249","v":502.83776440918598}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},{"$f":"'Sc2'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc2'!J$249","v":425},{"$f":"'Sc2'!K$249","v":427.99031300793263},{"$f":"'Sc2'!L$249","v":430.99798906807007},{"$f":"'Sc2'!M$249","v":434.0231289978118},{"$f":"'Sc2'!N$249","v":437.06583419994718},{"$f":"'Sc2'!O$249","v":446.01790928009189},{"$f":"'Sc2'!P$249","v":455.122033009647},{"$f":"'Sc2'!Q$249","v":464.38078789507972},{"$f":"'Sc2'!R$249","v":473.79680030605255},{"$f":"'Sc2'!S$249","v":483.37274122042868},{"$f":"'Sc2'!T$249","v":493.11132698193046}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},{"$f":"'Sc3'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc3'!J$249","v":425},{"$f":"'Sc3'!K$249","v":427.84263030216641},{"$f":"'Sc3'!L$249","v":430.70095098692457},{"$f":"'Sc3'!M$249","v":433.57504866001636},{"$f":"'Sc3'!N$249","v":436.46501040521866},{"$f":"'Sc3'!O$249","v":445.40688065065137},{"$f":"'Sc3'!P$249","v":454.50062621905113},{"$f":"'Sc3'!Q$249","v":463.74882667298061},{"$f":"'Sc3'!R$249","v":473.15410538819697},{"$f":"'Sc3'!S$249","v":482.71913029780694},{"$f":"'Sc3'!T$249","v":492.44661464906176}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},{"$f":"'Sc4'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc4'!J$249","v":425},{"$f":"'Sc4'!K$249","v":433.71949889730013},{"$f":"'Sc4'!L$249","v":442.58662820434802},{"$f":"'Sc4'!M$249","v":451.60388746132787},{"$f":"'Sc4'!N$249","v":460.77381852830365},{"$f":"'Sc4'!O$249","v":470.12856750976175},{"$f":"'Sc4'!P$249","v":479.64220445132651},{"$f":"'Sc4'!Q$249","v":489.31742802336476},{"$f":"'Sc4'!R$249","v":499.15698273245266},{"$f":"'Sc4'!S$249","v":509.16365969989113},{"$f":"'Sc4'!T$249","v":519.34029745344526}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},{"$f":"'Sc5'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc5'!J$249","v":425},{"$f":"'Sc5'!K$249","v":438.29488466662303},{"$f":"'Sc5'!L$249","v":451.93298090275812},{"$f":"'Sc5'!M$249","v":465.92314882147923},{"$f":"'Sc5'!N$249","v":480.27447726242565},{"$f":"'Sc5'!O$249","v":489.96043982247807},{"$f":"'Sc5'!P$249","v":499.81091591847735},{"$f":"'Sc5'!Q$249","v":509.82869976972211},{"$f":"'Sc5'!R$249","v":520.0166330545934},{"$f":"'Sc5'!S$249","v":530.37760571663489},{"$f":"'Sc5'!T$249","v":540.91455678432419}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},{"$f":"'Sc6'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc6'!J$249","v":425},{"$f":"'Sc6'!K$249","v":460.04251022724691},{"$f":"'Sc6'!L$249","v":464.52122669864968},{"$f":"'Sc6'!M$249","v":462.22497889346039},{"$f":"'Sc6'!N$249","v":462.98214530784708},{"$f":"'Sc6'!O$249","v":464.22513134958899},{"$f":"'Sc6'!P$249","v":460.45450627802495},{"$f":"'Sc6'!Q$249","v":454.4015643446113},{"$f":"'Sc6'!R$249","v":449.54365777730152},{"$f":"'Sc6'!S$249","v":441.74589072795402},{"$f":"'Sc6'!T$249","v":434.23540445653362}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},{"$f":"'Sc7'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc7'!J$249","v":425},{"$f":"'Sc7'!K$249","v":455.67099955401216},{"$f":"'Sc7'!L$249","v":460.31467481512755},{"$f":"'Sc7'!M$249","v":457.86751076959877},{"$f":"'Sc7'!N$249","v":458.4686072397418},{"$f":"'Sc7'!O$249","v":459.50578599309335},{"$f":"'Sc7'!P$249","v":455.5428914361122},{"$f":"'Sc7'!Q$249","v":449.31075082019697},{"$f":"'Sc7'!R$249","v":444.28773961700392},{"$f":"'Sc7'!S$249","v":436.3370052171465},{"$f":"'Sc7'!T$249","v":428.62780731238684}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},{"$f":"'Sc8'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc8'!J$249","v":425},{"$f":"'Sc8'!K$249","v":455.67099955401216},{"$f":"'Sc8'!L$249","v":460.31467481512755},{"$f":"'Sc8'!M$249","v":457.86751076959877},{"$f":"'Sc8'!N$249","v":458.4686072397418},{"$f":"'Sc8'!O$249","v":459.50578599309335},{"$f":"'Sc8'!P$249","v":455.5428914361122},{"$f":"'Sc8'!Q$249","v":449.31075082019697},{"$f":"'Sc8'!R$249","v":444.28773961700392},{"$f":"'Sc8'!S$249","v":436.3370052171465},{"$f":"'Sc8'!T$249","v":428.62780731238684}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},{"$f":"'Sc9'!J$38","v":"2015-16 $"},null,null,null,null,null,{"$f":"'Sc9'!J$249","v":425},{"$f":"'Sc9'!K$249","v":455.67099955401216},{"$f":"'Sc9'!L$249","v":460.31467481512755},{"$f":"'Sc9'!M$249","v":457.86751076959877},{"$f":"'Sc9'!N$249","v":458.4686072397418},{"$f":"'Sc9'!O$249","v":459.50578599309335},{"$f":"'Sc9'!P$249","v":455.5428914361122},{"$f":"'Sc9'!Q$249","v":449.31075082019697},{"$f":"'Sc9'!R$249","v":444.28773961700392},{"$f":"'Sc9'!S$249","v":436.3370052171465},{"$f":"'Sc9'!T$249","v":428.62780731238684}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},{"$f":"'Sc10'!J$38","v":0},null,null,null,null,null,{"$f":"'Sc10'!J$249","v":0},{"$f":"'Sc10'!K$249","v":0},{"$f":"'Sc10'!L$249","v":0},{"$f":"'Sc10'!M$249","v":0},{"$f":"'Sc10'!N$249","v":0},{"$f":"'Sc10'!O$249","v":0},{"$f":"'Sc10'!P$249","v":0},{"$f":"'Sc10'!Q$249","v":0},{"$f":"'Sc10'!R$249","v":0},{"$f":"'Sc10'!S$249","v":0},{"$f":"'Sc10'!T$249","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},{"$f":"'Sc11'!J$38","v":0},null,null,null,null,null,{"$f":"'Sc11'!J$249","v":0},{"$f":"'Sc11'!K$249","v":0},{"$f":"'Sc11'!L$249","v":0},{"$f":"'Sc11'!M$249","v":0},{"$f":"'Sc11'!N$249","v":0},{"$f":"'Sc11'!O$249","v":0},{"$f":"'Sc11'!P$249","v":0},{"$f":"'Sc11'!Q$249","v":0},{"$f":"'Sc11'!R$249","v":0},{"$f":"'Sc11'!S$249","v":0},{"$f":"'Sc11'!T$249","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},{"$f":"'Sc12'!J$38","v":0},null,null,null,null,null,{"$f":"'Sc12'!J$249","v":0},{"$f":"'Sc12'!K$249","v":0},{"$f":"'Sc12'!L$249","v":0},{"$f":"'Sc12'!M$249","v":0},{"$f":"'Sc12'!N$249","v":0},{"$f":"'Sc12'!O$249","v":0},{"$f":"'Sc12'!P$249","v":0},{"$f":"'Sc12'!Q$249","v":0},{"$f":"'Sc12'!R$249","v":0},{"$f":"'Sc12'!S$249","v":0},{"$f":"'Sc12'!T$249","v":0}]
[]
[]
[]
[null,"FINANCIAL RATIOS"]
[null,"unhide rows to see table contents"]
[]
[null,{"$f":"\"TABLE 14 - \"&'Sc1'!B$198","v":"TABLE 14 - 1. FFO Interest Cover"}]
[null,null,null,null,null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},null,null,null,null,null,null,{"$f":"'Sc1'!J$199","v":2.5818197817010624},{"$f":"'Sc1'!K$199","v":2.626370445879318},{"$f":"'Sc1'!L$199","v":2.5925423051114977},{"$f":"'Sc1'!M$199","v":2.8030387304639222},{"$f":"'Sc1'!N$199","v":2.7316489420682846},{"$f":"'Sc1'!O$199","v":2.8080210667222776},{"$f":"'Sc1'!P$199","v":2.8888697794965852},{"$f":"'Sc1'!Q$199","v":3.0499277183612024},{"$f":"'Sc1'!R$199","v":3.3190509575464531},{"$f":"'Sc1'!S$199","v":3.6378716962488418},{"$f":"'Sc1'!T$199","v":4.019630469074511}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},null,null,null,null,null,null,{"$f":"'Sc2'!J$199","v":2.6250279485194064},{"$f":"'Sc2'!K$199","v":2.6519598759709235},{"$f":"'Sc2'!L$199","v":2.60236248820061},{"$f":"'Sc2'!M$199","v":2.7964393040376194},{"$f":"'Sc2'!N$199","v":2.7073259022988854},{"$f":"'Sc2'!O$199","v":2.7803740512746904},{"$f":"'Sc2'!P$199","v":2.8578457728975266},{"$f":"'Sc2'!Q$199","v":3.0140346618932092},{"$f":"'Sc2'!R$199","v":3.2756794409691095},{"$f":"'Sc2'!S$199","v":3.5849667611947895},{"$f":"'Sc2'!T$199","v":3.9546309195683191}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},null,null,null,null,null,null,{"$f":"'Sc3'!J$199","v":2.62466234095402},{"$f":"'Sc3'!K$199","v":2.6509642818551789},{"$f":"'Sc3'!L$199","v":2.6131693487164651},{"$f":"'Sc3'!M$199","v":2.7952255851590242},{"$f":"'Sc3'!N$199","v":2.7067119216416207},{"$f":"'Sc3'!O$199","v":2.7799901343901303},{"$f":"'Sc3'!P$199","v":2.8576573671527377},{"$f":"'Sc3'!Q$199","v":3.014132471695127},{"$f":"'Sc3'!R$199","v":3.2762878472081391},{"$f":"'Sc3'!S$199","v":3.5862384110721823},{"$f":"'Sc3'!T$199","v":3.9567710592380871}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},null,null,null,null,null,null,{"$f":"'Sc4'!J$199","v":2.62466234095402},{"$f":"'Sc4'!K$199","v":2.6966363650786791},{"$f":"'Sc4'!L$199","v":2.7074633556434038},{"$f":"'Sc4'!M$199","v":2.9500975667070914},{"$f":"'Sc4'!N$199","v":2.9095434861185718},{"$f":"'Sc4'!O$199","v":2.998738872494445},{"$f":"'Sc4'!P$199","v":3.0923645802107647},{"$f":"'Sc4'!Q$199","v":3.2767544647651694},{"$f":"'Sc4'!R$199","v":3.5841235825718898},{"$f":"'Sc4'!S$199","v":3.9527443473203387},{"$f":"'Sc4'!T$199","v":4.4004145616706101}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},null,null,null,null,null,null,{"$f":"'Sc5'!J$199","v":2.62466234095402},{"$f":"'Sc5'!K$199","v":2.764066818317346},{"$f":"'Sc5'!L$199","v":2.8245678847030282},{"$f":"'Sc5'!M$199","v":3.1333946462428566},{"$f":"'Sc5'!N$199","v":3.1431962699909963},{"$f":"'Sc5'!O$199","v":3.2612751773608339},{"$f":"'Sc5'!P$199","v":3.3847188923351079},{"$f":"'Sc5'!Q$199","v":3.6169200445893326},{"$f":"'Sc5'!R$199","v":4.0013825905158047},{"$f":"'Sc5'!S$199","v":4.4738060676843165},{"$f":"'Sc5'!T$199","v":5.0638905935245528}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},null,null,null,null,null,null,{"$f":"'Sc6'!J$199","v":2.62466234095402},{"$f":"'Sc6'!K$199","v":2.9036261974690403},{"$f":"'Sc6'!L$199","v":2.9011190002163727},{"$f":"'Sc6'!M$199","v":3.0848991879245578},{"$f":"'Sc6'!N$199","v":2.986291059719175},{"$f":"'Sc6'!O$199","v":3.0242864811060697},{"$f":"'Sc6'!P$199","v":3.0256299370548794},{"$f":"'Sc6'!Q$199","v":3.0899965816242112},{"$f":"'Sc6'!R$199","v":3.2595715549477928},{"$f":"'Sc6'!S$199","v":3.4320550630321107},{"$f":"'Sc6'!T$199","v":3.630441011883736}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},null,null,null,null,null,null,{"$f":"'Sc7'!J$199","v":2.62466234095402},{"$f":"'Sc7'!K$199","v":2.9036261974690403},{"$f":"'Sc7'!L$199","v":2.9011190002163727},{"$f":"'Sc7'!M$199","v":3.0848991879245578},{"$f":"'Sc7'!N$199","v":2.986291059719175},{"$f":"'Sc7'!O$199","v":3.0242864811060697},{"$f":"'Sc7'!P$199","v":3.0256299370548794},{"$f":"'Sc7'!Q$199","v":3.0899965816242112},{"$f":"'Sc7'!R$199","v":3.2595715549477928},{"$f":"'Sc7'!S$199","v":3.4320550630321107},{"$f":"'Sc7'!T$199","v":3.630441011883736}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},null,null,null,null,null,null,{"$f":"'Sc8'!J$199","v":1.872190621716689},{"$f":"'Sc8'!K$199","v":2.0608967921296837},{"$f":"'Sc8'!L$199","v":2.0693904318733467},{"$f":"'Sc8'!M$199","v":2.1723735271119962},{"$f":"'Sc8'!N$199","v":2.1478752586560277},{"$f":"'Sc8'!O$199","v":2.1853969110319817},{"$f":"'Sc8'!P$199","v":2.2004489504122433},{"$f":"'Sc8'!Q$199","v":2.2419911850867078},{"$f":"'Sc8'!R$199","v":2.3351105547200346},{"$f":"'Sc8'!S$199","v":2.4231572304576328},{"$f":"'Sc8'!T$199","v":2.5228102849834566}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},null,null,null,null,null,null,{"$f":"'Sc9'!J$199","v":2.0060990103716785},{"$f":"'Sc9'!K$199","v":1.9268584449756505},{"$f":"'Sc9'!L$199","v":1.9306639207996554},{"$f":"'Sc9'!M$199","v":2.0222193419452581},{"$f":"'Sc9'!N$199","v":1.9969552608829739},{"$f":"'Sc9'!O$199","v":2.0283522531042943},{"$f":"'Sc9'!P$199","v":2.0391627740714995},{"$f":"'Sc9'!Q$199","v":2.0737981116172377},{"$f":"'Sc9'!R$199","v":2.154761823297858},{"$f":"'Sc9'!S$199","v":2.230532537695038},{"$f":"'Sc9'!T$199","v":2.3162883678405222}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},null,null,null,null,null,null,{"$f":"'Sc10'!J$199","v":0},{"$f":"'Sc10'!K$199","v":0},{"$f":"'Sc10'!L$199","v":0},{"$f":"'Sc10'!M$199","v":0},{"$f":"'Sc10'!N$199","v":0},{"$f":"'Sc10'!O$199","v":0},{"$f":"'Sc10'!P$199","v":0},{"$f":"'Sc10'!Q$199","v":0},{"$f":"'Sc10'!R$199","v":0},{"$f":"'Sc10'!S$199","v":0},{"$f":"'Sc10'!T$199","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},null,null,null,null,null,null,{"$f":"'Sc11'!J$199","v":0},{"$f":"'Sc11'!K$199","v":0},{"$f":"'Sc11'!L$199","v":0},{"$f":"'Sc11'!M$199","v":0},{"$f":"'Sc11'!N$199","v":0},{"$f":"'Sc11'!O$199","v":0},{"$f":"'Sc11'!P$199","v":0},{"$f":"'Sc11'!Q$199","v":0},{"$f":"'Sc11'!R$199","v":0},{"$f":"'Sc11'!S$199","v":0},{"$f":"'Sc11'!T$199","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},null,null,null,null,null,null,{"$f":"'Sc12'!J$199","v":0},{"$f":"'Sc12'!K$199","v":0},{"$f":"'Sc12'!L$199","v":0},{"$f":"'Sc12'!M$199","v":0},{"$f":"'Sc12'!N$199","v":0},{"$f":"'Sc12'!O$199","v":0},{"$f":"'Sc12'!P$199","v":0},{"$f":"'Sc12'!Q$199","v":0},{"$f":"'Sc12'!R$199","v":0},{"$f":"'Sc12'!S$199","v":0},{"$f":"'Sc12'!T$199","v":0}]
[]
[]
[null,{"$f":"\"TABLE 15 - \"&'Sc1'!B$201","v":"TABLE 15 - 2. Debt / RAB"}]
[null,null,null,null,null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},null,null,null,null,null,null,{"$f":"'Sc1'!J$202","v":0.40567581654366947},{"$f":"'Sc1'!K$202","v":0.40222516465567276},{"$f":"'Sc1'!L$202","v":0.38882150428907758},{"$f":"'Sc1'!M$202","v":0.39899164613578958},{"$f":"'Sc1'!N$202","v":0.39877744222513345},{"$f":"'Sc1'!O$202","v":0.39786004532389091},{"$f":"'Sc1'!P$202","v":0.38965141099775902},{"$f":"'Sc1'!Q$202","v":0.37290400274412222},{"$f":"'Sc1'!R$202","v":0.35385634411693467},{"$f":"'Sc1'!S$202","v":0.3333626948168138},{"$f":"'Sc1'!T$202","v":0.31131641233218604}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},null,null,null,null,null,null,{"$f":"'Sc2'!J$202","v":0.40567581654366947},{"$f":"'Sc2'!K$202","v":0.40190783229698951},{"$f":"'Sc2'!L$202","v":0.38833134821705773},{"$f":"'Sc2'!M$202","v":0.39857286843132478},{"$f":"'Sc2'!N$202","v":0.39863078126394724},{"$f":"'Sc2'!O$202","v":0.39799477339549749},{"$f":"'Sc2'!P$202","v":0.39014791988418357},{"$f":"'Sc2'!Q$202","v":0.37378633481690943},{"$f":"'Sc2'!R$202","v":0.35514931224124946},{"$f":"'Sc2'!S$202","v":0.33509221187294475},{"$f":"'Sc2'!T$202","v":0.31350735435287413}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},null,null,null,null,null,null,{"$f":"'Sc3'!J$202","v":0.40598582370357855},{"$f":"'Sc3'!K$202","v":0.40093105663417972},{"$f":"'Sc3'!L$202","v":0.38834087096937758},{"$f":"'Sc3'!M$202","v":0.39849738458905098},{"$f":"'Sc3'!N$202","v":0.39850967625009481},{"$f":"'Sc3'!O$202","v":0.3978716878827056},{"$f":"'Sc3'!P$202","v":0.39001798907144014},{"$f":"'Sc3'!Q$202","v":0.3736355275071026},{"$f":"'Sc3'!R$202","v":0.35497423849362092},{"$f":"'Sc3'!S$202","v":0.33489071463842524},{"$f":"'Sc3'!T$202","v":0.31327706233565256}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},null,null,null,null,null,null,{"$f":"'Sc4'!J$202","v":0.40598582370357855},{"$f":"'Sc4'!K$202","v":0.40035781844620932},{"$f":"'Sc4'!L$202","v":0.38680475775173079},{"$f":"'Sc4'!M$202","v":0.39553455945290728},{"$f":"'Sc4'!N$202","v":0.39355868752125034},{"$f":"'Sc4'!O$202","v":0.39100547071927366},{"$f":"'Sc4'!P$202","v":0.38099084470806155},{"$f":"'Sc4'!Q$202","v":0.36231317708704558},{"$f":"'Sc4'!R$202","v":0.34130291156757869},{"$f":"'Sc4'!S$202","v":0.31881525912208836},{"$f":"'Sc4'!T$202","v":0.29473718742704175}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},null,null,null,null,null,null,{"$f":"'Sc5'!J$202","v":0.40598582370357855},{"$f":"'Sc5'!K$202","v":0.39924277335691144},{"$f":"'Sc5'!L$202","v":0.38417351291835805},{"$f":"'Sc5'!M$202","v":0.39119660112782617},{"$f":"'Sc5'!N$202","v":0.3869529936903936},{"$f":"'Sc5'!O$202","v":0.38219915212721695},{"$f":"'Sc5'!P$202","v":0.3696155407814688},{"$f":"'Sc5'!Q$202","v":0.34799270562062151},{"$f":"'Sc5'!R$202","v":0.32382683367886272},{"$f":"'Sc5'!S$202","v":0.29797008613858061},{"$f":"'Sc5'!T$202","v":0.27028681007051075}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},null,null,null,null,null,null,{"$f":"'Sc6'!J$202","v":0.40598582370357855},{"$f":"'Sc6'!K$202","v":0.39748645553586071},{"$f":"'Sc6'!L$202","v":0.38220528864376441},{"$f":"'Sc6'!M$202","v":0.3897723575734609},{"$f":"'Sc6'!N$202","v":0.3870930270098204},{"$f":"'Sc6'!O$202","v":0.38472995887186456},{"$f":"'Sc6'!P$202","v":0.37591390855171564},{"$f":"'Sc6'!Q$202","v":0.35945204341204789},{"$f":"'Sc6'!R$202","v":0.34183030247940949},{"$f":"'Sc6'!S$202","v":0.3243040532953661},{"$f":"'Sc6'!T$202","v":0.30666119689619259}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},null,null,null,null,null,null,{"$f":"'Sc7'!J$202","v":0.40598582370357855},{"$f":"'Sc7'!K$202","v":0.39748645553586071},{"$f":"'Sc7'!L$202","v":0.38220528864376441},{"$f":"'Sc7'!M$202","v":0.3897723575734609},{"$f":"'Sc7'!N$202","v":0.3870930270098204},{"$f":"'Sc7'!O$202","v":0.38472995887186456},{"$f":"'Sc7'!P$202","v":0.37591390855171564},{"$f":"'Sc7'!Q$202","v":0.35945204341204789},{"$f":"'Sc7'!R$202","v":0.34183030247940949},{"$f":"'Sc7'!S$202","v":0.3243040532953661},{"$f":"'Sc7'!T$202","v":0.30666119689619259}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},null,null,null,null,null,null,{"$f":"'Sc8'!J$202","v":0.60015612259929374},{"$f":"'Sc8'!K$202","v":0.58421145626529181},{"$f":"'Sc8'!L$202","v":0.56835429496195011},{"$f":"'Sc8'!M$202","v":0.56650985113972951},{"$f":"'Sc8'!N$202","v":0.55922158057686522},{"$f":"'Sc8'!O$202","v":0.55168151772209684},{"$f":"'Sc8'!P$202","v":0.5399650567638371},{"$f":"'Sc8'!Q$202","v":0.52263322418503011},{"$f":"'Sc8'!R$202","v":0.50415742329451141},{"$f":"'Sc8'!S$202","v":0.48579421904196157},{"$f":"'Sc8'!T$202","v":0.46733266931955786}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},null,null,null,null,null,null,{"$f":"'Sc9'!J$202","v":0.60015612259929374},{"$f":"'Sc9'!K$202","v":0.58526544598204722},{"$f":"'Sc9'!L$202","v":0.57049287813822569},{"$f":"'Sc9'!M$202","v":0.56954997174033062},{"$f":"'Sc9'!N$202","v":0.56321686351157696},{"$f":"'Sc9'!O$202","v":0.55657549832563635},{"$f":"'Sc9'!P$202","v":0.54579419934848616},{"$f":"'Sc9'!Q$202","v":0.52944413100249288},{"$f":"'Sc9'!R$202","v":0.51191485808441139},{"$f":"'Sc9'!S$202","v":0.49446112633321065},{"$f":"'Sc9'!T$202","v":0.47687254640067056}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},null,null,null,null,null,null,{"$f":"'Sc10'!J$202","v":0},{"$f":"'Sc10'!K$202","v":0},{"$f":"'Sc10'!L$202","v":0},{"$f":"'Sc10'!M$202","v":0},{"$f":"'Sc10'!N$202","v":0},{"$f":"'Sc10'!O$202","v":0},{"$f":"'Sc10'!P$202","v":0},{"$f":"'Sc10'!Q$202","v":0},{"$f":"'Sc10'!R$202","v":0},{"$f":"'Sc10'!S$202","v":0},{"$f":"'Sc10'!T$202","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},null,null,null,null,null,null,{"$f":"'Sc11'!J$202","v":0},{"$f":"'Sc11'!K$202","v":0},{"$f":"'Sc11'!L$202","v":0},{"$f":"'Sc11'!M$202","v":0},{"$f":"'Sc11'!N$202","v":0},{"$f":"'Sc11'!O$202","v":0},{"$f":"'Sc11'!P$202","v":0},{"$f":"'Sc11'!Q$202","v":0},{"$f":"'Sc11'!R$202","v":0},{"$f":"'Sc11'!S$202","v":0},{"$f":"'Sc11'!T$202","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},null,null,null,null,null,null,{"$f":"'Sc12'!J$202","v":0},{"$f":"'Sc12'!K$202","v":0},{"$f":"'Sc12'!L$202","v":0},{"$f":"'Sc12'!M$202","v":0},{"$f":"'Sc12'!N$202","v":0},{"$f":"'Sc12'!O$202","v":0},{"$f":"'Sc12'!P$202","v":0},{"$f":"'Sc12'!Q$202","v":0},{"$f":"'Sc12'!R$202","v":0},{"$f":"'Sc12'!S$202","v":0},{"$f":"'Sc12'!T$202","v":0}]
[]
[]
[null,{"$f":"\"TABLE 16 - \"&'Sc1'!B$204","v":"TABLE 16 -  3. FFO / Debt"}]
[null,null,null,null,null,null,null,null,null,{"$f":"'Sc1'!J$57","v":"2015-16"},{"$f":"'Sc1'!K$57","v":"2016-17"},{"$f":"'Sc1'!L$57","v":"2017-18"},{"$f":"'Sc1'!M$57","v":"2018-19"},{"$f":"'Sc1'!N$57","v":"2019-20"},{"$f":"'Sc1'!O$57","v":"2020-21"},{"$f":"'Sc1'!P$57","v":"2021-22"},{"$f":"'Sc1'!Q$57","v":"2022-23"},{"$f":"'Sc1'!R$57","v":"2023-24"},{"$f":"'Sc1'!S$57","v":"2024-25"},{"$f":"'Sc1'!T$57","v":"2025-26"}]
[null,{"$f":"'Sc1'!$D$26","v":1},{"$f":"'Sc1'!$D$27","v":"Base case"},null,null,null,null,null,null,{"$f":"'Sc1'!J$205","v":9.9582838482022457E-2},{"$f":"'Sc1'!K$205","v":0.10117803769320977},{"$f":"'Sc1'!L$205","v":0.10582882748619864},{"$f":"'Sc1'!M$205","v":0.10723820433845231},{"$f":"'Sc1'!N$205","v":0.10851119332787876},{"$f":"'Sc1'!O$205","v":0.11304864966987349},{"$f":"'Sc1'!P$205","v":0.12187608758676723},{"$f":"'Sc1'!Q$205","v":0.13699215324813865},{"$f":"'Sc1'!R$205","v":0.15630417333310018},{"$f":"'Sc1'!S$205","v":0.17908814443551932},{"$f":"'Sc1'!T$205","v":0.2068166622842921}]
[null,{"$f":"'Sc2'!$D$26","v":2},{"$f":"'Sc2'!$D$27","v":"1 + regulator opex"},null,null,null,null,null,null,{"$f":"'Sc2'!J$205","v":0.10230299152799603},{"$f":"'Sc2'!K$205","v":0.10285112382754975},{"$f":"'Sc2'!L$205","v":0.10653164114931092},{"$f":"'Sc2'!M$205","v":0.10682303555914335},{"$f":"'Sc2'!N$205","v":0.10691398692758736},{"$f":"'Sc2'!O$205","v":0.1112413527656699},{"$f":"'Sc2'!P$205","v":0.1197623272102649},{"$f":"'Sc2'!Q$205","v":0.13444698479436137},{"$f":"'Sc2'!R$205","v":0.15318433563632536},{"$f":"'Sc2'!S$205","v":0.17522891275771471},{"$f":"'Sc2'!T$205","v":0.20199380414550092}]
[null,{"$f":"'Sc3'!$D$26","v":3},{"$f":"'Sc3'!$D$27","v":"2 + regulator capex and cap cons"},null,null,null,null,null,null,{"$f":"'Sc3'!J$205","v":0.10227997484837624},{"$f":"'Sc3'!K$205","v":0.10336708467408608},{"$f":"'Sc3'!L$205","v":0.10674908970397949},{"$f":"'Sc3'!M$205","v":0.1068259742645943},{"$f":"'Sc3'!N$205","v":0.106894337277993},{"$f":"'Sc3'!O$205","v":0.11122153435651656},{"$f":"'Sc3'!P$205","v":0.11975868450270483},{"$f":"'Sc3'!Q$205","v":0.13447145642667166},{"$f":"'Sc3'!R$205","v":0.15324826783527778},{"$f":"'Sc3'!S$205","v":0.17534427126755811},{"$f":"'Sc3'!T$205","v":0.20217826300054781}]
[null,{"$f":"'Sc4'!$D$26","v":4},{"$f":"'Sc4'!$D$27","v":"3 + higher WACC"},null,null,null,null,null,null,{"$f":"'Sc4'!J$205","v":0.10227997484837624},{"$f":"'Sc4'!K$205","v":0.10637871647119833},{"$f":"'Sc4'!L$205","v":0.11327527515988363},{"$f":"'Sc4'!M$205","v":0.11644820496312151},{"$f":"'Sc4'!N$205","v":0.12020164201030094},{"$f":"'Sc4'!O$205","v":0.12550325270480409},{"$f":"'Sc4'!P$205","v":0.13570139834816927},{"$f":"'Sc4'!Q$205","v":0.15312508753382209},{"$f":"'Sc4'!R$205","v":0.17545528806841851},{"$f":"'Sc4'!S$205","v":0.20218329964348244},{"$f":"'Sc4'!T$205","v":0.23526862916782909}]
[null,{"$f":"'Sc5'!$D$26","v":5},{"$f":"'Sc5'!$D$27","v":"4 + shorter asset lives"},null,null,null,null,null,null,{"$f":"'Sc5'!J$205","v":0.10227997484837624},{"$f":"'Sc5'!K$205","v":0.1112121001835836},{"$f":"'Sc5'!L$205","v":0.12186449351431702},{"$f":"'Sc5'!M$205","v":0.12823609436229785},{"$f":"'Sc5'!N$205","v":0.13604441489078309},{"$f":"'Sc5'!O$205","v":0.14315970307313114},{"$f":"'Sc5'!P$205","v":0.15621800620855689},{"$f":"'Sc5'!Q$205","v":0.17824701350522096},{"$f":"'Sc5'!R$205","v":0.20684504213926397},{"$f":"'Sc5'!S$205","v":0.24211754036534608},{"$f":"'Sc5'!T$205","v":0.28733137169840506}]
[null,{"$f":"'Sc6'!$D$26","v":6},{"$f":"'Sc6'!$D$27","v":"5 + constant usage charges"},null,null,null,null,null,null,{"$f":"'Sc6'!J$205","v":0.10227997484837624},{"$f":"'Sc6'!K$205","v":0.12054061788256151},{"$f":"'Sc6'!L$205","v":0.12706947592765153},{"$f":"'Sc6'!M$205","v":0.1251341860313866},{"$f":"'Sc6'!N$205","v":0.12557971873667495},{"$f":"'Sc6'!O$205","v":0.12735919178648325},{"$f":"'Sc6'!P$205","v":0.1313360144782463},{"$f":"'Sc6'!Q$205","v":0.14016809772681357},{"$f":"'Sc6'!R$205","v":0.15238137507894725},{"$f":"'Sc6'!S$205","v":0.16440988509806889},{"$f":"'Sc6'!T$205","v":0.17841927397857493}]
[null,{"$f":"'Sc7'!$D$26","v":7},{"$f":"'Sc7'!$D$27","v":"5 + higher usage charges"},null,null,null,null,null,null,{"$f":"'Sc7'!J$205","v":0.10227997484837624},{"$f":"'Sc7'!K$205","v":0.12054061788256151},{"$f":"'Sc7'!L$205","v":0.12706947592765153},{"$f":"'Sc7'!M$205","v":0.1251341860313866},{"$f":"'Sc7'!N$205","v":0.12557971873667495},{"$f":"'Sc7'!O$205","v":0.12735919178648325},{"$f":"'Sc7'!P$205","v":0.1313360144782463},{"$f":"'Sc7'!Q$205","v":0.14016809772681357},{"$f":"'Sc7'!R$205","v":0.15238137507894725},{"$f":"'Sc7'!S$205","v":0.16440988509806889},{"$f":"'Sc7'!T$205","v":0.17841927397857493}]
[null,{"$f":"'Sc8'!$D$26","v":8},{"$f":"'Sc8'!$D$27","v":"7 + higher Debt/RAB "},null,null,null,null,null,null,{"$f":"'Sc8'!J$205","v":5.4921225352399787E-2},{"$f":"'Sc8'!K$205","v":6.7580573425575011E-2},{"$f":"'Sc8'!L$205","v":7.0661413936676826E-2},{"$f":"'Sc8'!M$205","v":7.2007456729125119E-2},{"$f":"'Sc8'!N$205","v":7.3026948705286449E-2},{"$f":"'Sc8'!O$205","v":7.5151848336921748E-2},{"$f":"'Sc8'!P$205","v":7.7714282853384789E-2},{"$f":"'Sc8'!Q$205","v":8.230429063180561E-2},{"$f":"'Sc8'!R$205","v":8.8778591319382344E-2},{"$f":"'Sc8'!S$205","v":9.4744644788301829E-2},{"$f":"'Sc8'!T$205","v":0.10155259719792933}]
[null,{"$f":"'Sc9'!$D$26","v":9},{"$f":"'Sc9'!$D$27","v":"8 + notional cost of debt used for financial analysis"},null,null,null,null,null,null,{"$f":"'Sc9'!J$205","v":5.8343597657976684E-2},{"$f":"'Sc9'!K$205","v":6.3829651244743144E-2},{"$f":"'Sc9'!L$205","v":6.6471511543256534E-2},{"$f":"'Sc9'!M$205","v":6.7889823498290994E-2},{"$f":"'Sc9'!N$205","v":6.8571732986824133E-2},{"$f":"'Sc9'!O$205","v":7.048943808446255E-2},{"$f":"'Sc9'!P$205","v":7.2721944913203065E-2},{"$f":"'Sc9'!Q$205","v":7.6898703876521507E-2},{"$f":"'Sc9'!R$205","v":8.2970687466827342E-2},{"$f":"'Sc9'!S$205","v":8.8510202197303794E-2},{"$f":"'Sc9'!T$205","v":9.4829485655387555E-2}]
[null,{"$f":"'Sc10'!$D$26","v":0},{"$f":"'Sc10'!$D$27","v":0},null,null,null,null,null,null,{"$f":"'Sc10'!J$205","v":0},{"$f":"'Sc10'!K$205","v":0},{"$f":"'Sc10'!L$205","v":0},{"$f":"'Sc10'!M$205","v":0},{"$f":"'Sc10'!N$205","v":0},{"$f":"'Sc10'!O$205","v":0},{"$f":"'Sc10'!P$205","v":0},{"$f":"'Sc10'!Q$205","v":0},{"$f":"'Sc10'!R$205","v":0},{"$f":"'Sc10'!S$205","v":0},{"$f":"'Sc10'!T$205","v":0}]
[null,{"$f":"'Sc11'!$D$26","v":0},{"$f":"'Sc11'!$D$27","v":0},null,null,null,null,null,null,{"$f":"'Sc11'!J$205","v":0},{"$f":"'Sc11'!K$205","v":0},{"$f":"'Sc11'!L$205","v":0},{"$f":"'Sc11'!M$205","v":0},{"$f":"'Sc11'!N$205","v":0},{"$f":"'Sc11'!O$205","v":0},{"$f":"'Sc11'!P$205","v":0},{"$f":"'Sc11'!Q$205","v":0},{"$f":"'Sc11'!R$205","v":0},{"$f":"'Sc11'!S$205","v":0},{"$f":"'Sc11'!T$205","v":0}]
[null,{"$f":"'Sc12'!$D$26","v":0},{"$f":"'Sc12'!$D$27","v":0},null,null,null,null,null,null,{"$f":"'Sc12'!J$205","v":0},{"$f":"'Sc12'!K$205","v":0},{"$f":"'Sc12'!L$205","v":0},{"$f":"'Sc12'!M$205","v":0},{"$f":"'Sc12'!N$205","v":0},{"$f":"'Sc12'!O$205","v":0},{"$f":"'Sc12'!P$205","v":0},{"$f":"'Sc12'!Q$205","v":0},{"$f":"'Sc12'!R$205","v":0},{"$f":"'Sc12'!S$205","v":0},{"$f":"'Sc12'!T$205","v":0}]

{"sheet":"Sc1","index":2,"n_rows":269,"n_cols":24,"rows_kept":269,"cut":false,"hidden":false,"merged":[]}
[null,"THE INDEPENDENT PRICING AND REGULATORY TRIBUNAL OF NSW",null,null,null,"IPART TEMPLATE FOR COST BUILDING BLOCKS, SIMPLE TARIFF SETTING AND FINANCIAL RATIO ANALYSIS"]
[]
[null,"4   SCENARIO INPUTS, TARIFFS AND OUTPUT TABLES"]
[]
[null,"On this worksheet enter your key decisions about costs and other inputs, then set the tariffs. The worksheet also contains the main output tables for easy reference."]
[null,"To use the Summary workbook, copy and past the values of this worksheet onto one of the worksheets S1 to S12. Copy and paste values for each scenario onto a different worksheet."]
[]
[]
[null,"List of tables",null,null,null,null,null,null,null,"row number"]
[null," DECISIONS"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,null,null,null,null,null,36]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT",null,null,null,null,null,null,null,76]
[null,"SETTING TARIFFS "]
[null,"TABLE 3 - SETTING TARIFFS",null,null,null,null,null,null,null,114]
[]
[null,"OUTPUT TABLES"]
[null,"Table 4 - Regulatory asset base ",null,null,null,null,null,null,null,150]
[null,"Table 5 - Notional revenue requirement and target revenue",null,null,null,null,null,null,null,167]
[null,"Table 6 - Financial indicators",null,null,null,null,null,null,null,195]
[null,"Table 7 - Tariffs",null,null,null,null,null,null,null,218]
[null,"Table 8 - Annual bills",null,null,null,null,null,null,null,234]
[]
[]
[]
[null,"Name of regulated business",null,"A  Regulated Business"]
[null,"Scenario number",null,1,null,null,null,null,null,null,"These are useful for keeping track of model runs. They are particularly useful if a Scenario Summary workbook is used."]
[null,"Scenario description",null,"Base case",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DATA FOR SELECTIONS - DO NOT DELETE"]
[]
[null,"Type of business with regard to tax (select option)",null,"1. Pays tax and can provide forecast tax depreciation",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"1. Pays tax and can provide forecast tax depreciation"]
[null,null,null,"ok",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2. Pays tax or tax equivalent and can provide tax value of assets but not forecast tax depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"3. Does not pay tax or tax equivalents and has a previously established regulatory tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"4. Does not pay tax or tax equivalents and does not have a previously established tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null," DECISIONS",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DO NOT DELETE"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"nominal","nominal $'000"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,"beware hidden columns",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2015-16 $","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Calculate forecast costs and prices in nominal or 2015-16 $?",null,null,null,null,null,null,null,"2015-16 $",null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency forecast"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast"]
[null,"Select forecast operating expenditure from 2015-16",null,null,null,null,null,null,null,"Option 1 - Agency forecast",null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Checked - see X54",null,null,null,null,null,null,null,null,"Option 1 - Agency capex"]
[null,"Select capital expenditure",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator capex"]
[null,"  - historical capex up to and including 2014-15",null,null,null,null,null,null,null,"Option 1 - Agency capex",null,null,null,"new titles",null,null,null,null,null,null,null,null,1]
[null,"  - forecast capex from 2015-16",null,null,null,null,null,null,null,"Option 1 - Agency capex",null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency cap cons"]
[null,"Select cash capital contributions",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator cap cons"]
[null,"  - historical cash cap cons up to and including 2014-15",null,null,null,null,null,null,null,"Option 1 - Agency cap cons",null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"  - forecast cash cap cons from 2015-16",null,null,null,null,null,null,null,"Option 1 - Agency cap cons",null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Allowed depreciation"]
[null,"Use allowed or actual depreciation to roll forward historical RAB?",null,null,null,null,null,null,null,"Allowed depreciation",null,null,"-",null,null,null,null,null,null,null,null,null,"Actual (calculated) depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Tax treatment of cash capital contributions (see comment)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance"]
[null,"  - historical period, up to and including 2015-16",null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance",null,null,null,"Checked - corrected spelling mistake",null,null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance"]
[null,"  - forecast period, from 2016-17",null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance",null,null,null,null,null,null,null,null,null,null,null,null,2,"Is this a trick? It is right but I needed to look at it a 2nd time"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Selected costs"]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[]
[null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency forecast",null,null,null,null,null,null,null,null,null,null,"Suggestion to move to Scenario sheet and use as sole source of data"]
[null,"Selected operating expenditure","$'000",null,null,"na","na","na","na",64950,65000,65150,65300,65450,65600,65750,65900,66050,66200,66350,null,"moved"]
[]
[null,"Selected capital expenditure",null,null,null,null,null,null,"Option 1 - Agency capex",null,"Option 1 - Agency capex"]
[null," - depreciating assets","$'000",null,null,34000,33000,21000,35000,65000,54000,24000,70000,44000,54000,43000,32000,32500,33000,33500,null,"Historical capex needs to link to Scenario W43 (like cap cons)"]
[null," - non-depreciating assets","$'000",null,null,0,2000,0,0,200,4000,0,0,5000,0,0,0,0,0,0,null,"corrected"]
[]
[null,"Selected cash capital contributions (before tax)",null,null,null,null,null,null,"Option 1 - Agency cap cons",null,"Option 1 - Agency cap cons"]
[null," - depreciating assets","$'000",null,null,0,0,3000,200,350,1000,200,500,400,0,0,0,0,0,0]
[null," - non-depreciating assets","$'000",null,null,0,5,8,10,20,21,22,23,24,0,0,0,0,0,0]
[]
[]
[]
[]
[]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Pre-tax WACC"]
[null,"Pre- or post-tax WACC for forecast period?",null,null,null,null,null,null,null,"Post-tax WACC",null,null,null,null,null,null,null,null,null,null,null,null,"Post-tax WACC"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Use actual or notional cost of debt?",null,null,null,null,null,null,null,"Expected actual cost of debt",null,null,null,null,null,null,null,null,null,null,null,null,"Expected actual cost of debt"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Notional cost of debt (WACC risk free rate + debt margin)"]
[null,"Selected options",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[]
[null,"WACC"]
[null,"Cost of Debt (nominal pre-tax)",null,6.6500000000000004E-2]
[null,"Real pre-tax WACC",null,5.745231928420047E-2]
[null,"Real post-tax WACC",null,4.7240875912408685E-2]
[]
[null,"WACC used for forecast return on assets",null,4.7E-2,"Real post-tax WACC (rounded)"]
[null,"Pre-tax WACC for NPV calculations",null,5.7000000000000002E-2,"rounded"]
[]
[null,"Nominal cost of debt used for financial ratios = Expected actual cost of debt",null,null,null,"na","na","na","na",6.3E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2]
[]
[]
[]
[null,"Spare rows for additional inputs  or outputs"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"SETTING TARIFFS "]
[]
[null,"TABLE 3 - SETTING TARIFFS"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,null,"real 2015-16 prices"]
[null,null,null,null,null,null,null,null,null,null,"Next determination period",null,null,null,"Subsequent determinations"]
[null,"This model uses a very simple tariff structure. Most models will require more tariffs and a more complicated tariff structure.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the first 4 year period"]
[null,"Instructions:",null,null,null,null,null,null,null,null,0.2]
[null,"Step 1. Enter the usage charges",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the second 4 year period"]
[null,"Step 2. The model calculates the default access charges such that required revenue from tariffs = expected revenue from tariffs"]
[null,"Step 3. If you wish to change the access charges, enter alternative charges in the light blue cells. You can use Goal seek or Solver to set the tariffs, eg for NPV neutrality or a glide-path approach.",null,null,null,null,null,null,null,null,null,null,null,"This option gives an average increase for a Weighted Average Price Cap (WAPC)",null,null,null,null,null,null,null,"This macro keeps usage charges unchanged in real terms"]
[null,"Step 4. If you use Goal seek or Solver, consider developing a macro to automate the calculations. Remember to describe what the macros do. Two examples of a tariff-setting macro are provided."]
[null,null,null,null,null,null,null,null,null,null,9.9747232601376384E-3,null,null,null,1.6984737957324258E-2]
[null,"Access charge","$/year",null,null,null,null,null,null,90,90.89772509341239,91.80440474619526,92.720128277600224,93.644985897813754,95.235521444305448,96.853071820266109,98.49809586549523,100.17106021306607,101.87243942169235,103.60271611034318]
[null,"Default = the tariff that equates required revenue with expected revenue each year",null,null,null,null,null,null,null,null,96.989517644016445,96.692024843460246,89.383875279507606,84.939265194188479,77.448935400749662,64.790606789810056,50.00301726241878,36.318356777274751,19.457349176144394,2.5943075582113848]
[null,"Applicable access charge  ","$/year",null,null,null,null,null,null,90,90.89772509341239,91.80440474619526,92.720128277600224,93.644985897813754,95.235521444305448,96.853071820266109,98.49809586549523,100.17106021306607,101.87243942169235,103.60271611034318]
[]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0199494465202754,2.0400978832487837,2.060447295057783,2.0809996866180835,2.1163449209845657,2.1522904848948028,2.1888465747887835,2.2260235602903578,2.2638319871487194,2.302282580229849]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.5249368081503443,2.5501223540609792,2.5755591188222282,2.601249608272604,2.6454311512307065,2.6903631061185025,2.7360582184859781,2.7825294503629459,2.829789983935898,2.8778532252873101]
[null,null,null,null,null,null,null,null,null,null,"ok",null,null,null,"ok"]
[null,null,null,null,null,null,null,null,null,null,"ok"]
[null,"   Expected revenue from access charges","$'000",null,null,null,null,null,null,18900,19374.85010366085,19861.882966839345,20361.34016976101,20872.530906763706,21545.132016345222,22239.402351369503,22955.966222412317,23696.466004002908,24460.59142954255,25249.017943251736]
[null,"   Expected revenue from Tier 1 sales","$'000",null,null,null,null,null,null,81600,83221.917196635346,84868.071943149407,87569.010039955785,90107.286430563021,93542.445507517812,97068.300868755599,100686.94244028404,104400.50497761778,108211.16898570879,112351.38991521663]
[null,"   Expected revenue from Tier 2 sales","$'000",null,null,null,null,null,null,21250,21714.45655009296,22186.064480330519,22664.920245635607,23411.246474453437,24337.9665913225,25289.413197513924,26266.15889746539,27268.78861355687,28297.899839358979,29354.102897930563]
[null,"Total expected revenue from tariffs",null,null,null,null,null,null,null,121750,124311.22385038916,126916.01939031927,130595.27045535241,134391.06381178019,139425.54411518553,144597.11641763902,149909.06756016175,155365.75959517754,160969.66025461032,166954.51075639893]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,462087.02473526919,null,null,null,527148.46961760207]
[]
[null,"Revenue required from tariffs (ie, notional revenue requirement)",null,null,null,null,null,null,null,null,125609.68943255041,127973.45599836255,129862.62929697127,132450.64572414913,135401.68475455191,137234.9331973457,138606.80454092874,140260.76407040676,141180.97293575181,142337.75150815889]
[]
[null,"Difference between required and expected revenue",null,null,null,null,null,null,null,null,-1298.4655821612541,-1057.436608043281,732.6411583811423,1940.4180876310566,4023.8593606336217,7362.1832202933147,11302.263019233011,15104.995524770784,19788.687318858516,24616.759248240036]
[null,"WACC (for NPV calculations)",null,5.7000000000000002E-2]
[null,"NPV of difference between required and revenue expected from tariffs",null,null,null,null,null,null,null,null,-6.8663053584132623E-6,null,null,null,32068.042665915866]
[]
[]
[]
[]
[null,"OUTPUT TABLES"]
[]
[null,"Table 4 - Regulatory asset base "]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"Opening value","$'000",null,null,660000,683696.8,716536.01441951236,736422.76472955162,761673.16400960088,824648.61437947711,860299.7377928549,861792.83928828605,908621.66886577022,933600.72652530787,963087.92893356539,980792.47609054274,986897.70132957341,992991.10465065727,999064.35272046109]
[null,"Capex (net of cap cons)","$'000",null,null,34000,34995,17992,34790,64830,57285.3,23844.6,69633.899999999994,48703.199999999997,54000,43000,32000,32500,33000,33500]
[null,"Disposals","$'000",null,null,1700,1000,1000,1300,1000,1200,1300,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Allowed depreciation","$'000",null,null,16717,17972.448780487808,18856.210122546112,19537.117190893929,20694.253730363755,20434.176586622183,21051.498504568939,21805.070422515695,22724.142340462447,23512.797591742536,24295.452843022624,24894.77476096938,25406.596678916132,25926.751930196224,26455.240514809644]
[null,"Indexation","$'000",null,null,8113.8,16816.663200000003,21750.960432585369,11297.516470943274,19839.704100240022,0,0,0,0,0,0,0,0,0,0]
[null,"Closing value","$'000",null,null,683696.8,716536.01441951236,736422.76472955162,761673.16400960088,824648.61437947711,860299.7377928549,861792.83928828605,908621.66886577022,933600.72652530787,963087.92893356539,980792.47609054274,986897.70132957341,992991.10465065727,999064.35272046109,1005109.1122056515]
[]
[null,"Value of working capital (net)","$'000",null,null,null,null,null,null,5054.5479452054806,5629.4838356164382,8499.0582829246905,5296.086774148951,7343.8289602489258,7393.9667713153631,8846.984890913287,10316.904763818511,10921.939836184323,11544.819676117777,12185.848524540999]
[null,"check = 0",null,null,null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[]
[null,"Table 5 - Notional revenue requirement and target revenue"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"  Operating expenditure","$'000",null,null,null,null,null,null,64950,65000,65150,65300,65450,65600,65750,65900,66050,66200,66350]
[null,"  Depreciation (regulatory)","$'000",null,null,null,null,null,null,19995.381365565809,19970.263776763761,20573.570765147397,21310.034498460278,22208.240920109238,22978.991497223473,23743.878291074769,24329.593929669587,24829.796062346537,25338.142338444239,25854.632757962689]
[null,"  Return on RAB","$'000",null,null,null,null,null,null,35057.254862595611,39166.641322096686,40033.891299969626,41160.98307611404,42831.265652388771,44100.276805657682,45202.080227706865,45762.671312621758,46054.585675834329,46345.957023257586,46636.402580150767]
[null,"  Return on working capital","$'000",null,null,null,null,null,null,347.36377183857797,258.57890590515655,390.38697972958573,243.26498905174458,337.32386718680959,339.62684570288866,406.36828179138166,473.88606558877655,501.67712274694441,530.2878430587001,559.73220121285556]
[null,"  Tax allowance","$'000",null,null,null,null,null,null,3200,2952.273903713065,3767.4759380212299,3797.7956444602933,3498.4203792857638,4510.3861412905189,4176.8085290302424,4187.5376440648461,5099.606945971891,5022.1143079883896,5249.3119584434771]
[null,"     less adjustment for franking credits (gamma)","$'000",null,null,null,null,null,null,-800,-738.06847592826625,-941.86898450530748,-949.44891111507332,-874.60509482144096,-1127.5965353226297,-1044.2021322575606,-1046.8844110162115,-1274.9017364929728,-1255.5285769970974,-1312.3279896108693]
[null,"Total revenue requirement ","$'000",null,null,null,null,null,null,122750,126609.68943255041,128973.45599836255,130862.62929697127,133450.64572414913,136401.68475455191,138234.9331973457,139606.80454092874,141260.76407040676,142180.97293575181,143337.75150815889]
[null,"   less"]
[null,"   Profit/loss on asset sales","$'000",null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"   Other regulatory revenue","$'000",null,null,null,null,null,null,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Revenue required from tariffs (ie, notional revenue requirement)","$'000",null,null,null,null,null,null,121750,125609.68943255041,127973.45599836255,129862.62929697127,132450.64572414913,135401.68475455191,137234.9331973457,138606.80454092874,140260.76407040676,141180.97293575181,142337.75150815889]
[]
[]
[null,"Target revenue from tariffs","$'000",null,null,null,null,null,null,121750,124311.22385038916,126916.01939031927,130595.27045535241,134391.06381178019,139425.54411518553,144597.11641763902,149909.06756016175,155365.75959517754,160969.66025461032,166954.51075639893]
[null,"Implied real return on RAB (post-tax)","%",null,null,null,null,null,null,4.72518708687567E-2,4.5441840293128505E-2,4.5758563832687664E-2,4.7836572206748286E-2,4.9129277496929927E-2,5.1288439974724105E-2,5.465501520307664E-2,5.8607853009171665E-2,6.2415072771716297E-2,6.7067949045040057E-2,7.1808682073597932E-2]
[]
[null,"NPV of required revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,462087.02474213537]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,462087.02473526919]
[null,"Difference",null,null,null,null,null,null,null,null,-6.8661756813526154E-6]
[null,"check required revenue = 0",null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"Check NPVs = 0",null,null,null,null,null,null,null,null,0,0]
[]
[]
[]
[null,"Table 6 - Financial indicators"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,"Formula = (Adjusted FFO + Adjusted interest payments) / Adjusted interest payments",null,null,null,null,null,null,null,null,null,null,null,"This is a coverage ratio and measures a utility’s ability to service its debt prior to repayment."]
[null," - ratio (times)",null,null,null,null,null,null,null,2.5818197817010624,2.626370445879318,2.5925423051114977,2.8030387304639222,2.7316489420682846,2.8080210667222776,2.8888697794965852,3.0499277183612024,3.3190509575464531,3.6378716962488418,4.019630469074511]
[]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"Formula = Adjusted Debt / RAB",null,null,null,null,null,null,null,null,null,null,null,"This is a leverage ratio and measures a utility’s ability to repay its debt."]
[null," - ratio (%)",null,null,null,null,null,null,null,0.40567581654366947,0.40222516465567276,0.38882150428907758,0.39899164613578958,0.39877744222513345,0.39786004532389091,0.38965141099775902,0.37290400274412222,0.35385634411693467,0.3333626948168138,0.31131641233218604]
[]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,"Formula = Adjusted FFO /  Adjusted Debt",null,null,null,null,null,null,null,null,null,null,null,"This is a more dynamic measure of leverage than debt gearing and a useful indicator of a "]
[null," - ratio (%)",null,null,null,null,null,null,null,9.9582838482022457E-2,0.10117803769320977,0.10582882748619864,0.10723820433845231,0.10851119332787876,0.11304864966987349,0.12187608758676723,0.13699215324813865,0.15630417333310018,0.17908814443551932,0.2068166622842921,null,"utility’s ability to generate cash flows."]
[]
[]
[null,"Financial Ratio Benchmarks (for water utilities)",null,null,null,null,null,null,null,null,null,"Credit Rating Range"]
[null,null,null,null,null,null,null,null,null,"A3","Baa1","Baa2","Baa3","Ba1"]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,">2.9","2.3 - 2.9","1.7 - 2.5","1.4 / 1.5 - 1.7","<1.4 / 1.5"]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"<60%","80-85%","60-91%","90-100%",">100%"]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,">10%",">10%","6-10%","5-8%","<4%"]
[null,null,null,null,null,null,null,null,null,"Source: Kanangra Ratings Advisory Services advice to IPART, see IPART, Financeability tests in price regulation Research — Final Decision December 2013, p18"]
[]
[]
[]
[]
[null,"Table 7 - Tariffs"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,90.89772509341239,91.80440474619526,92.720128277600224,93.644985897813754,95.235521444305448,96.853071820266109,98.49809586549523,100.17106021306607,101.87243942169235,103.60271611034318]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0199494465202754,2.0400978832487837,2.060447295057783,2.0809996866180835,2.1163449209845657,2.1522904848948028,2.1888465747887835,2.2260235602903578,2.2638319871487194,2.302282580229849]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.5249368081503443,2.5501223540609792,2.5755591188222282,2.601249608272604,2.6454311512307065,2.6903631061185025,2.7360582184859781,2.7825294503629459,2.829789983935898,2.8778532252873101]
[]
[null,"Nominal prices",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,93.170168220747698,96.452002736471385,99.849436890945071,103.36654257640313,107.75025112100839,112.31986992366295,117.08328331876002,122.04871001024011,127.22471725198831,132.62023562961318]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0704481826832821,2.1433778385882531,2.218876375354335,2.2970342794756253,2.3944500249112979,2.4959971094147329,2.6018507404168902,2.7121935557831143,2.8272159389330742,2.9471163473247382]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.5880602283541028,2.6792222982353162,2.7735954691929181,2.8712928493445311,2.9930625311391212,3.1199963867684146,3.2523134255211112,3.3902419447288912,3.5340199236663414,3.6838954341559211]
[]
[]
[]
[null,"Table 8 - Annual bills"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,292.89266974543989,295.81419307107365,298.76485778337849,301.7449545596221,306.87001354276202,312.08212030974641,317.38275334437355,322.77341624210186,328.25563813656424,333.83097413332808]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,9.9747232601374858E-3,9.9747232601379299E-3,9.9747232601374858E-3,9.9747232601377078E-3,1.6984737957324247E-2,1.6984737957324469E-2,1.6984737957324025E-2,1.6984737957324469E-2,1.6984737957324025E-2,1.6984737957324469E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,520.13698247897094,525.32520493656182,530.56517847737905,535.85741930415645,544.95881715352562,554.21479986041163,563.62799300811162,573.20106677476701,582.9367366907951,592.83776440918598]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,9.9747232601377078E-3,9.9747232601377078E-3,9.9747232601374858E-3,9.9747232601377078E-3,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1025.1243441090398,1035.3496757487576,1045.6770022418248,1056.1073409586772,1074.0450473996668,1092.2874210841121,1110.8396367053074,1129.7069568473562,1148.8947334779748,1168.408409466648]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,9.9747232601377078E-3,9.9747232601377078E-3,9.9747232601377078E-3,9.9747232601374858E-3,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324469E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,202.89266974543989,205.81419307107365,208.76485778337849,211.7449545596221,216.87001354276202,222.08212030974641,227.38275334437355,232.77341624210186,238.25563813656424,243.83097413332808]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,1.4463348727199454E-2,1.4399353753387301E-2,1.4336546320135923E-2,1.4274896684651095E-2,2.4203924923730913E-2,2.4033321535974705E-2,2.3867896376503106E-2,2.3707439629619076E-2,2.3551752528134351E-2,2.3400646634721634E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,430.13698247897094,435.32520493656182,440.56517847737905,445.85741930415645,454.95881715352562,464.21479986041163,473.62799300811162,483.20106677476701,492.9367366907951,502.83776440918598]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,1.2087017597578686E-2,1.2061791171012581E-2,1.2036917415753301E-2,1.2012390187231103E-2,2.0413247498659137E-2,2.0344660566854245E-2,2.027766704234879E-2,2.0212221211535208E-2,2.0148279019769122E-2,2.0085797996836074E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,935.12434410903984,945.34967574875759,955.67700224182477,966.10734095867724,984.04504739966683,1002.2874210841121,1020.8396367053074,1039.7069568473562,1058.8947334779748,1078.408409466648]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,1.0945236874637665E-2,1.0934729380251751E-2,1.0924345517850265E-2,1.0914083620705561E-2,1.8566991141160116E-2,1.8538148972601087E-2,1.8509875741160586E-2,1.8482158669839599E-2,1.8454985324711792E-2,1.8428343603693165E-2]
[null,"nominal prices'",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,300.21498648907584,310.78978659529673,321.73707442637851,333.06997052396565,347.19525361213817,361.91958086513625,377.26835736044899,393.26806558855156,409.94631114529568,427.33187036208699]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.522409134164084E-2,3.5224091341641506E-2,3.522409134164084E-2,3.5224091341641062E-2,4.2409356406257537E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257537E-2,4.2409356406256871E-2,4.2409356406257315E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,533.14040704094521,551.91979343647517,571.36066665374119,591.4863269649735,616.57088141465908,642.71925567429355,669.97656565734906,698.38984061415181,728.00810427526642,758.88245943611992]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.5224091341641284E-2,3.5224091341641062E-2,3.5224091341641062E-2,3.5224091341641062E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257315E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1050.7524527117657,1087.7642530835383,1126.079760492325,1165.7448968338797,1215.1833876424832,1266.7185330279765,1320.4392507615714,1376.4382295599301,1434.8120890085349,1495.6615462673042]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.5224091341641062E-2,3.5224091341641062E-2,3.5224091341641284E-2,3.522409134164084E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257315E-2,4.2409356406257093E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,207.96498648907587,216.23353659529673,224.81691817637855,233.7268103677157,245.36851445198195,257.54717322597617,270.28663953030991,283.61180481265899,297.54864385000582,312.12426138441492]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.9824932445379435E-2,3.9759337597221833E-2,3.9694959978139321E-2,3.9631769101767356E-2,4.9809023046824219E-2,4.9634154574374145E-2,4.94645937859155E-2,4.9300125620359347E-2,4.9140546341337465E-2,4.898566280058958E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,440.89040704094515,457.3635434364752,474.4405104037412,492.14316680872349,514.74414225450289,538.34684803513346,562.99484782720992,588.73357983825929,615.61043697997661,643.67485045844785]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.7389193037518087E-2,3.7363335950288068E-2,3.7337840351147067E-2,3.7312699941911776E-2,4.5923578686125399E-2,4.5853277081025601E-2,4.5784608718407283E-2,4.57175267418235E-2,4.56519859952631E-2,4.5587942946756943E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,958.50245271176573,993.20800308353842,1029.159604242325,1066.4017366776297,1113.356648482327,1162.3461253888163,1213.4575329314323,1266.7819687840374,1322.414421713245,1380.453937289632]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.6218867796503407E-2,3.6208097614758072E-2,3.619745415579656E-2,3.6186935711223001E-2,4.403116591968903E-2,4.4001602696915887E-2,4.3972622634689484E-2,4.3944212636585434E-2,4.3916359957829387E-2,4.3889052193785361E-2]

{"sheet":"Sc2","index":3,"n_rows":269,"n_cols":24,"rows_kept":269,"cut":false,"hidden":false,"merged":[]}
[null,"THE INDEPENDENT PRICING AND REGULATORY TRIBUNAL OF NSW",null,null,null,"IPART TEMPLATE FOR COST BUILDING BLOCKS, SIMPLE TARIFF SETTING AND FINANCIAL RATIO ANALYSIS"]
[]
[null,"4   SCENARIO INPUTS, TARIFFS AND OUTPUT TABLES"]
[]
[null,"On this worksheet enter your key decisions about costs and other inputs, then set the tariffs. The worksheet also contains the main output tables for easy reference."]
[null,"To use the Summary workbook, copy and past the values of this worksheet onto one of the worksheets S1 to S12. Copy and paste values for each scenario onto a different worksheet."]
[]
[]
[null,"List of tables",null,null,null,null,null,null,null,"row number"]
[null," DECISIONS"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,null,null,null,null,null,36]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT",null,null,null,null,null,null,null,76]
[null,"SETTING TARIFFS "]
[null,"TABLE 3 - SETTING TARIFFS",null,null,null,null,null,null,null,114]
[]
[null,"OUTPUT TABLES"]
[null,"Table 4 - Regulatory asset base ",null,null,null,null,null,null,null,150]
[null,"Table 5 - Notional revenue requirement and target revenue",null,null,null,null,null,null,null,167]
[null,"Table 6 - Financial indicators",null,null,null,null,null,null,null,195]
[null,"Table 7 - Tariffs",null,null,null,null,null,null,null,218]
[null,"Table 8 - Annual bills",null,null,null,null,null,null,null,234]
[]
[]
[]
[null,"Name of regulated business",null,"A  Regulated Business"]
[null,"Scenario number",null,2,null,null,null,null,null,null,"These are useful for keeping track of model runs. They are particularly useful if a Scenario Summary workbook is used."]
[null,"Scenario description",null,"1 + regulator opex",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DATA FOR SELECTIONS - DO NOT DELETE"]
[]
[null,"Type of business with regard to tax (select option)",null,"1. Pays tax and can provide forecast tax depreciation",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"1. Pays tax and can provide forecast tax depreciation"]
[null,null,null,"ok",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2. Pays tax or tax equivalent and can provide tax value of assets but not forecast tax depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"3. Does not pay tax or tax equivalents and has a previously established regulatory tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"4. Does not pay tax or tax equivalents and does not have a previously established tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null," DECISIONS",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DO NOT DELETE"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"nominal","nominal $'000"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,"beware hidden columns",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2015-16 $","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Calculate forecast costs and prices in nominal or 2015-16 $?",null,null,null,null,null,null,null,"2015-16 $",null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency forecast"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast"]
[null,"Select forecast operating expenditure from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Checked - see X54",null,null,null,null,null,null,null,null,"Option 1 - Agency capex"]
[null,"Select capital expenditure",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator capex"]
[null,"  - historical capex up to and including 2014-15",null,null,null,null,null,null,null,"Option 1 - Agency capex",null,null,null,"new titles",null,null,null,null,null,null,null,null,1]
[null,"  - forecast capex from 2015-16",null,null,null,null,null,null,null,"Option 1 - Agency capex",null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency cap cons"]
[null,"Select cash capital contributions",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator cap cons"]
[null,"  - historical cash cap cons up to and including 2014-15",null,null,null,null,null,null,null,"Option 1 - Agency cap cons",null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"  - forecast cash cap cons from 2015-16",null,null,null,null,null,null,null,"Option 1 - Agency cap cons",null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Allowed depreciation"]
[null,"Use allowed or actual depreciation to roll forward historical RAB?",null,null,null,null,null,null,null,"Allowed depreciation",null,null,"-",null,null,null,null,null,null,null,null,null,"Actual (calculated) depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Tax treatment of cash capital contributions (see comment)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance"]
[null,"  - historical period, up to and including 2015-16",null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance",null,null,null,"Checked - corrected spelling mistake",null,null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance"]
[null,"  - forecast period, from 2016-17",null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance",null,null,null,null,null,null,null,null,null,null,null,null,2,"Is this a trick? It is right but I needed to look at it a 2nd time"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Selected costs"]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[]
[null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,"Suggestion to move to Scenario sheet and use as sole source of data"]
[null,"Selected operating expenditure","$'000",null,null,"na","na","na","na",63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020,null,"moved"]
[]
[null,"Selected capital expenditure",null,null,null,null,null,null,"Option 1 - Agency capex",null,"Option 1 - Agency capex"]
[null," - depreciating assets","$'000",null,null,34000,33000,21000,35000,65000,54000,24000,70000,44000,54000,43000,32000,32500,33000,33500,null,"Historical capex needs to link to Scenario W43 (like cap cons)"]
[null," - non-depreciating assets","$'000",null,null,0,2000,0,0,200,4000,0,0,5000,0,0,0,0,0,0,null,"corrected"]
[]
[null,"Selected cash capital contributions (before tax)",null,null,null,null,null,null,"Option 1 - Agency cap cons",null,"Option 1 - Agency cap cons"]
[null," - depreciating assets","$'000",null,null,0,0,3000,200,350,1000,200,500,400,0,0,0,0,0,0]
[null," - non-depreciating assets","$'000",null,null,0,5,8,10,20,21,22,23,24,0,0,0,0,0,0]
[]
[]
[]
[]
[]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Pre-tax WACC"]
[null,"Pre- or post-tax WACC for forecast period?",null,null,null,null,null,null,null,"Post-tax WACC",null,null,null,null,null,null,null,null,null,null,null,null,"Post-tax WACC"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Use actual or notional cost of debt?",null,null,null,null,null,null,null,"Expected actual cost of debt",null,null,null,null,null,null,null,null,null,null,null,null,"Expected actual cost of debt"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Notional cost of debt (WACC risk free rate + debt margin)"]
[null,"Selected options",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[]
[null,"WACC"]
[null,"Cost of Debt (nominal pre-tax)",null,6.6500000000000004E-2]
[null,"Real pre-tax WACC",null,5.745231928420047E-2]
[null,"Real post-tax WACC",null,4.7240875912408685E-2]
[]
[null,"WACC used for forecast return on assets",null,4.7E-2,"Real post-tax WACC (rounded)"]
[null,"Pre-tax WACC for NPV calculations",null,5.7000000000000002E-2,"rounded"]
[]
[null,"Nominal cost of debt used for financial ratios = Expected actual cost of debt",null,null,null,"na","na","na","na",6.3E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2]
[]
[]
[]
[null,"Spare rows for additional inputs  or outputs"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"SETTING TARIFFS "]
[]
[null,"TABLE 3 - SETTING TARIFFS"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,null,"real 2015-16 prices"]
[null,null,null,null,null,null,null,null,null,null,"Next determination period",null,null,null,"Subsequent determinations"]
[null,"This model uses a very simple tariff structure. Most models will require more tariffs and a more complicated tariff structure.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the first 4 year period"]
[null,"Instructions:",null,null,null,null,null,null,null,null,0.2]
[null,"Step 1. Enter the usage charges",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the second 4 year period"]
[null,"Step 2. The model calculates the default access charges such that required revenue from tariffs = expected revenue from tariffs"]
[null,"Step 3. If you wish to change the access charges, enter alternative charges in the light blue cells. You can use Goal seek or Solver to set the tariffs, eg for NPV neutrality or a glide-path approach.",null,null,null,null,null,null,null,null,null,null,null,"This option gives an average increase for a Weighted Average Price Cap (WAPC)",null,null,null,null,null,null,null,"This macro keeps usage charges unchanged in real terms"]
[null,"Step 4. If you use Goal seek or Solver, consider developing a macro to automate the calculations. Remember to describe what the macros do. Two examples of a tariff-setting macro are provided."]
[null,null,null,null,null,null,null,null,null,null,5.8064330251119504E-3,null,null,null,1.6984737957324258E-2]
[null,"Access charge","$/year",null,null,null,null,null,null,90,90.522578972260078,91.048192264322921,91.576857494763232,92.108592384456799,93.673032689724792,95.264044603627639,96.882079437975108,98.527596169989792,100.20106157250213,101.90295034635679]
[null,"Default = the tariff that equates required revenue with expected revenue each year",null,null,null,null,null,null,null,null,92.944670066152327,94.767213197069424,89.601852882362749,87.396870333801047,80.171135968432822,67.790410974456876,53.237151698770106,39.829565700298829,23.245152294483475,6.6328820791503391]
[null,"Applicable access charge  ","$/year",null,null,null,null,null,null,90,90.522578972260078,91.048192264322921,91.576857494763232,92.108592384456799,93.673032689724792,95.264044603627639,96.882079437975108,98.527596169989792,100.20106157250213,101.90295034635679]
[]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0116128660502239,2.0232931614293981,2.0350412776614051,2.0468576085434842,2.0816229486605509,2.1169787689695028,2.1529350986216684,2.1895021371108836,2.2266902571667133,2.264510007696817]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.5145160825627801,2.5291164517867477,2.5438015970767562,2.5585720106793555,2.6020286858256885,2.6462234612118785,2.691168873277086,2.7368776713886049,2.7833628214583923,2.8306375096210217]
[null,null,null,null,null,null,null,null,null,null,"ok",null,null,null,"ok"]
[null,null,null,null,null,null,null,null,null,null,"ok"]
[null,"   Expected revenue from access charges","$'000",null,null,null,null,null,null,18900,19294.887707937236,19698.276396386267,20110.277905850005,20530.084156571575,21191.65018539644,21874.52992188498,22579.337433814479,23307.688149972786,24059.276894173483,24834.768028910614]
[null,"   Expected revenue from Tier 1 sales","$'000",null,null,null,null,null,null,81600,82878.450081269228,84168.995515462957,86489.254300609711,88628.934449932873,92007.734330796346,95475.742480524568,99035.014536596747,102687.65023050044,106435.7942925689,110508.08837560467]
[null,"   Expected revenue from Tier 2 sales","$'000",null,null,null,null,null,null,21250,21624.838310039908,22003.313130544706,22385.454054275455,23027.148096114201,23938.663909596333,24874.500535391657,25835.221183460024,26821.401179608329,27833.628214583921,28872.502598134422]
[null,"Total expected revenue from tariffs",null,null,null,null,null,null,null,121750,123798.17609924637,125870.58504239393,128984.98626073517,132186.16670261865,137138.04842578911,142224.7729378012,147449.57315387126,152816.73956008157,158328.6994013263,164215.3590026497]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,457408.04607571696,null,null,null,518499.76855227951]
[]
[null,"Revenue required from tariffs (ie, notional revenue requirement)",null,null,null,null,null,null,null,null,124314.4448159095,126675.19522119363,128551.27524785203,131135.97097474799,134083.51433053124,135916.27718387102,137277.68629497214,138931.13347217147,139850.81602458126,140997.09066524883]
[]
[null,"Difference between required and expected revenue",null,null,null,null,null,null,null,null,-516.26871666313673,-804.61017879970314,433.71101288314094,1050.1957278706541,3054.5340952578699,6308.4957539301831,10171.886858899117,13885.606087910099,18477.883376745041,23218.268337400863]
[null,"WACC (for NPV calculations)",null,5.7000000000000002E-2]
[null,"NPV of difference between required and revenue expected from tariffs",null,null,null,null,null,null,null,null,2.5434430417332148E-6,null,null,null,28273.807981780879]
[]
[]
[]
[]
[null,"OUTPUT TABLES"]
[]
[null,"Table 4 - Regulatory asset base "]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"Opening value","$'000",null,null,660000,683696.8,716536.01441951236,736422.76472955162,761673.16400960088,824648.61437947711,860299.7377928549,861792.83928828605,908621.66886577022,933600.72652530787,963087.92893356539,980792.47609054274,986897.70132957341,992991.10465065727,999064.35272046109]
[null,"Capex (net of cap cons)","$'000",null,null,34000,34995,17992,34790,64830,57285.3,23844.6,69633.899999999994,48703.199999999997,54000,43000,32000,32500,33000,33500]
[null,"Disposals","$'000",null,null,1700,1000,1000,1300,1000,1200,1300,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Allowed depreciation","$'000",null,null,16717,17972.448780487808,18856.210122546112,19537.117190893929,20694.253730363755,20434.176586622183,21051.498504568939,21805.070422515695,22724.142340462447,23512.797591742536,24295.452843022624,24894.77476096938,25406.596678916132,25926.751930196224,26455.240514809644]
[null,"Indexation","$'000",null,null,8113.8,16816.663200000003,21750.960432585369,11297.516470943274,19839.704100240022,0,0,0,0,0,0,0,0,0,0]
[null,"Closing value","$'000",null,null,683696.8,716536.01441951236,736422.76472955162,761673.16400960088,824648.61437947711,860299.7377928549,861792.83928828605,908621.66886577022,933600.72652530787,963087.92893356539,980792.47609054274,986897.70132957341,992991.10465065727,999064.35272046109,1005109.1122056515]
[]
[null,"Value of working capital (net)","$'000",null,null,null,null,null,null,5154.2739726027394,5729.2098630136989,8535.5318478522931,5267.6907586513062,7245.7939225563896,7222.6232921036699,8665.4580250972886,10125.68433479741,10719.974772395086,11331.817206037451,11962.278008382695]
[null,"check = 0",null,null,null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[]
[null,"Table 5 - Notional revenue requirement and target revenue"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"  Operating expenditure","$'000",null,null,null,null,null,null,63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020]
[null,"  Depreciation (regulatory)","$'000",null,null,null,null,null,null,19995.381365565809,19970.263776763761,20573.570765147397,21310.034498460278,22208.240920109238,22978.991497223473,23743.878291074769,24329.593929669587,24829.796062346537,25338.142338444239,25854.632757962689]
[null,"  Return on RAB","$'000",null,null,null,null,null,null,36350.401389366598,39166.641322096686,40033.891299969626,41160.98307611404,42831.265652388771,44100.276805657682,45202.080227706865,45762.671312621758,46054.585675834329,46345.957023257586,46636.402580150767]
[null,"  Return on working capital","$'000",null,null,null,null,null,null,354.21724506758324,263.15961841941993,392.06231885282313,241.96067575520539,332.82082685005179,331.75653100223525,398.03021391060713,465.10274357083938,492.40026775443556,520.504007226363,549.46294364875871]
[null,"  Tax allowance","$'000",null,null,null,null,null,null,3200,2952.5067981728521,3767.5611162983723,3797.7293300300271,3498.1914338666006,4509.9859955304701,4176.3846015716417,4187.0910788132342,5099.135288314862,5021.6168742040718,5248.7898446488853]
[null,"     less adjustment for franking credits (gamma)","$'000",null,null,null,null,null,null,-800,-738.12669954321302,-941.89027907459308,-949.43233250750677,-874.54785846665015,-1127.4964988826175,-1044.0961503929104,-1046.7727697033085,-1274.7838220787155,-1255.4042185510179,-1312.1974611622213]
[null,"Total revenue requirement ","$'000",null,null,null,null,null,null,122750,125314.4448159095,127675.19522119363,129551.27524785203,132135.97097474799,135083.51433053124,136916.27718387102,138277.68629497214,139931.13347217147,140850.81602458126,141997.09066524883]
[null,"   less"]
[null,"   Profit/loss on asset sales","$'000",null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"   Other regulatory revenue","$'000",null,null,null,null,null,null,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Revenue required from tariffs (ie, notional revenue requirement)","$'000",null,null,null,null,null,null,121750,124314.4448159095,126675.19522119363,128551.27524785203,131135.97097474799,134083.51433053124,135916.27718387102,137277.68629497214,138931.13347217147,139850.81602458126,140997.09066524883]
[]
[]
[null,"Target revenue from tariffs","$'000",null,null,null,null,null,null,121750,123798.17609924637,125870.58504239393,128984.98626073517,132186.16670261865,137138.04842578911,142224.7729378012,147449.57315387126,152816.73956008157,158328.6994013263,164215.3590026497]
[null,"Implied real return on RAB (post-tax)","%",null,null,null,null,null,null,4.8994836566922599E-2,4.6380477139113828E-2,4.6055383397026549E-2,4.7495236412789597E-2,4.8152410475340884E-2,5.0255378715870144E-2,5.3559417153836657E-2,5.7446913797980177E-2,6.1170651555209163E-2,6.5738646787921587E-2,7.0399287927115917E-2]
[]
[null,"NPV of required revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,457408.04607317358]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,457408.04607571696]
[null,"Difference",null,null,null,null,null,null,null,null,2.5433837436139584E-6]
[null,"check required revenue = 0",null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"Check NPVs = 0",null,null,null,null,null,null,null,null,0,0]
[]
[]
[]
[null,"Table 6 - Financial indicators"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,"Formula = (Adjusted FFO + Adjusted interest payments) / Adjusted interest payments",null,null,null,null,null,null,null,null,null,null,null,"This is a coverage ratio and measures a utility’s ability to service its debt prior to repayment."]
[null," - ratio (times)",null,null,null,null,null,null,null,2.6250279485194064,2.6519598759709235,2.60236248820061,2.7964393040376194,2.7073259022988854,2.7803740512746904,2.8578457728975266,3.0140346618932092,3.2756794409691095,3.5849667611947895,3.9546309195683191]
[]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"Formula = Adjusted Debt / RAB",null,null,null,null,null,null,null,null,null,null,null,"This is a leverage ratio and measures a utility’s ability to repay its debt."]
[null," - ratio (%)",null,null,null,null,null,null,null,0.40567581654366947,0.40190783229698951,0.38833134821705773,0.39857286843132478,0.39863078126394724,0.39799477339549749,0.39014791988418357,0.37378633481690943,0.35514931224124946,0.33509221187294475,0.31350735435287413]
[]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,"Formula = Adjusted FFO /  Adjusted Debt",null,null,null,null,null,null,null,null,null,null,null,"This is a more dynamic measure of leverage than debt gearing and a useful indicator of a "]
[null," - ratio (%)",null,null,null,null,null,null,null,0.10230299152799603,0.10285112382754975,0.10653164114931092,0.10682303555914335,0.10691398692758736,0.1112413527656699,0.1197623272102649,0.13444698479436137,0.15318433563632536,0.17522891275771471,0.20199380414550092,null,"utility’s ability to generate cash flows."]
[]
[]
[null,"Financial Ratio Benchmarks (for water utilities)",null,null,null,null,null,null,null,null,null,"Credit Rating Range"]
[null,null,null,null,null,null,null,null,null,"A3","Baa1","Baa2","Baa3","Ba1"]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,">2.9","2.3 - 2.9","1.7 - 2.5","1.4 / 1.5 - 1.7","<1.4 / 1.5"]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"<60%","80-85%","60-91%","90-100%",">100%"]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,">10%",">10%","6-10%","5-8%","<4%"]
[null,null,null,null,null,null,null,null,null,"Source: Kanangra Ratings Advisory Services advice to IPART, see IPART, Financeability tests in price regulation Research — Final Decision December 2013, p18"]
[]
[]
[]
[]
[null,"Table 7 - Tariffs"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,90.522578972260078,91.048192264322921,91.576857494763232,92.108592384456799,93.673032689724792,95.264044603627639,96.882079437975108,98.527596169989792,100.20106157250213,101.90295034635679]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0116128660502239,2.0232931614293981,2.0350412776614051,2.0468576085434842,2.0816229486605509,2.1169787689695028,2.1529350986216684,2.1895021371108836,2.2266902571667133,2.264510007696817]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.5145160825627801,2.5291164517867477,2.5438015970767562,2.5585720106793555,2.6020286858256885,2.6462234612118785,2.691168873277086,2.7368776713886049,2.7833628214583923,2.8306375096210217]
[]
[null,"Nominal prices",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,92.785643446566567,95.65750699770426,98.618259303071497,101.6706516112871,105.9824385115266,110.47708551916617,115.16234761367305,120.04630865820261,125.13739534734387,130.44439174638009]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0619031877014793,2.1257223777267611,2.1915168734015888,2.2593478135841574,2.3551653002561466,2.4550463448703588,2.5591632803038449,2.6676957479600572,2.7808310077187519,2.8987642610306681]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.5773789846268493,2.6571529721584515,2.7393960917519857,2.8241847669801969,2.9439566253201828,3.0688079310879486,3.1989541003798068,3.3346196849500722,3.476038759648441,3.6234553262883358]
[]
[]
[]
[null,"Table 8 - Annual bills"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,291.68386557728246,293.37750840726272,295.08098526090373,296.79435323880523,301.83532755577988,306.96192150057789,312.17558930014195,317.47780988107814,322.87008728917345,328.3539511160385]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,5.8064330251119678E-3,5.8064330251119678E-3,5.8064330251119678E-3,5.8064330251119678E-3,1.6984737957324247E-2,1.6984737957324025E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,517.99031300793263,520.99798906807007,524.0231289978118,527.06583419994718,536.01790928009189,545.122033009647,554.38078789507972,563.79680030605255,573.37274122042868,583.11132698193046]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,5.8064330251119678E-3,5.8064330251121898E-3,5.8064330251119678E-3,5.8064330251119678E-3,1.6984737957324469E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324469E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1020.8935295204888,1026.8212794254196,1032.7834484131631,1038.7802363358185,1056.4236464452297,1074.3667252520227,1092.6145625504969,1111.1723345837736,1130.0453055121072,1149.2388289061348]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,5.8064330251119678E-3,5.8064330251119678E-3,5.8064330251119678E-3,5.8064330251121898E-3,1.6984737957324247E-2,1.6984737957324025E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,201.68386557728246,203.37750840726272,205.08098526090373,206.79435323880523,211.83532755577988,216.96192150057789,222.17558930014195,227.47780988107814,232.87008728917345,238.3539511160385]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,8.4193278864121979E-3,8.3975127367403868E-3,8.375935308587712E-3,8.3545920930785389E-3,2.4376750322352203E-2,2.4200845080705857E-2,2.4030335662150737E-2,2.3865000640431733E-2,2.370463040291404E-2,2.3549026372181814E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,427.99031300793263,430.99798906807007,434.0231289978118,437.06583419994718,446.01790928009189,455.122033009647,464.38078789507972,473.79680030605255,483.37274122042868,493.11132698193046]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,7.0360306069003897E-3,7.0274395674971846E-3,7.0189188963105664E-3,7.0104678733624581E-3,2.048221201396716E-2,2.0412013823054576E-2,2.0343455631462337E-2,2.0276490019436988E-2,2.0211071303543049E-2,2.0147155457946653E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,930.89352952048876,936.82127942541956,942.78344841316311,948.78023633581847,966.42364644522968,984.36672525202266,1002.6145625504969,1021.1723345837736,1040.0453055121072,1059.2388289061348]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,6.3713832653933267E-3,6.3678065395773586E-3,6.364254440719197E-3,6.3607267742649132E-3,1.8595887049196902E-2,1.8566473277834783E-2,1.8537641338701505E-2,1.8509378106446706E-2,1.8481670810271522E-2,1.845450702224638E-2]
[null,"nominal prices'",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,298.97596221671449,308.22974477038036,317.76994664323036,327.60543296970286,341.49896853714125,355.98172000620201,371.07867564405751,386.81588345420835,403.22049611921909,420.32081784944694]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.0951593850739645E-2,3.0951593850739867E-2,3.0951593850739867E-2,3.0951593850739645E-2,4.2409356406257315E-2,4.2409356406256871E-2,4.2409356406257315E-2,4.2409356406257537E-2,4.2409356406257093E-2,4.2409356406257315E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,530.9400708331309,547.37351226464102,564.3155949009091,581.78206199792055,606.45506481595771,632.17443380411748,658.98454467824013,686.9316550997147,716.06398448757864,746.43179721539718]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.0951593850739645E-2,3.0951593850739867E-2,3.0951593850739645E-2,3.0951593850739645E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257093E-2,4.2409356406257093E-2,4.2409356406257537E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1046.4158677585008,1078.8041066963312,1112.1948132513064,1146.6190153939601,1195.2463898799945,1245.9360200217072,1298.7753647542015,1353.8555920897293,1411.271736417267,1471.1228624730643]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.0951593850739645E-2,3.0951593850739645E-2,3.0951593850739867E-2,3.0951593850739645E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257093E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,206.72596221671449,213.67349477038039,220.84979039323039,228.26227281345288,239.672229376985,251.60931236704192,264.09695781391844,277.15962267831577,290.82282882392923,305.11320887177482]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.3629811083572436E-2,3.3607450555158902E-2,3.3585333691302566E-2,3.3563456895405297E-2,4.9986169080410869E-2,4.9805866207723426E-2,4.9631094053704361E-2,4.9461625656442632E-2,4.9297246162986808E-2,4.9137752031486182E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,438.6900708331309,452.8172622646411,467.39543865090911,482.4389018416706,504.62832565580152,527.8020261649574,552.00282684810111,577.27539432382218,603.66631719228883,631.224188237725]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.2211931372072788E-2,3.2203125556684586E-2,3.2194391868718197E-2,3.2185729570196386E-2,4.5994267314316106E-2,4.5922314168630907E-2,4.5852042022248796E-2,4.5783402269922613E-2,4.5716348086131342E-2,4.5650834344394875E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,954.16586775850089,984.24785669633138,1015.2746570013064,1047.2758552377102,1093.4196507198383,1141.563612382547,1191.7936469240624,1244.1993313138366,1298.8740691219771,1355.9152534953921]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.153066784702796E-2,3.1527001703066881E-2,3.1523360801737343E-2,3.1519744943621308E-2,4.4060784225426808E-2,4.4030635109780336E-2,4.4001082372169043E-2,4.3972112559107712E-2,4.3943712580527983E-2,4.3915869697802368E-2]

{"sheet":"Sc3","index":4,"n_rows":269,"n_cols":24,"rows_kept":269,"cut":false,"hidden":false,"merged":[]}
[null,"THE INDEPENDENT PRICING AND REGULATORY TRIBUNAL OF NSW",null,null,null,"IPART TEMPLATE FOR COST BUILDING BLOCKS, SIMPLE TARIFF SETTING AND FINANCIAL RATIO ANALYSIS"]
[]
[null,"4   SCENARIO INPUTS, TARIFFS AND OUTPUT TABLES"]
[]
[null,"On this worksheet enter your key decisions about costs and other inputs, then set the tariffs. The worksheet also contains the main output tables for easy reference."]
[null,"To use the Summary workbook, copy and past the values of this worksheet onto one of the worksheets S1 to S12. Copy and paste values for each scenario onto a different worksheet."]
[]
[]
[null,"List of tables",null,null,null,null,null,null,null,"row number"]
[null," DECISIONS"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,null,null,null,null,null,36]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT",null,null,null,null,null,null,null,76]
[null,"SETTING TARIFFS "]
[null,"TABLE 3 - SETTING TARIFFS",null,null,null,null,null,null,null,114]
[]
[null,"OUTPUT TABLES"]
[null,"Table 4 - Regulatory asset base ",null,null,null,null,null,null,null,150]
[null,"Table 5 - Notional revenue requirement and target revenue",null,null,null,null,null,null,null,167]
[null,"Table 6 - Financial indicators",null,null,null,null,null,null,null,195]
[null,"Table 7 - Tariffs",null,null,null,null,null,null,null,218]
[null,"Table 8 - Annual bills",null,null,null,null,null,null,null,234]
[]
[]
[]
[null,"Name of regulated business",null,"A  Regulated Business"]
[null,"Scenario number",null,3,null,null,null,null,null,null,"These are useful for keeping track of model runs. They are particularly useful if a Scenario Summary workbook is used."]
[null,"Scenario description",null,"2 + regulator capex and cap cons",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DATA FOR SELECTIONS - DO NOT DELETE"]
[]
[null,"Type of business with regard to tax (select option)",null,"1. Pays tax and can provide forecast tax depreciation",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"1. Pays tax and can provide forecast tax depreciation"]
[null,null,null,"ok",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2. Pays tax or tax equivalent and can provide tax value of assets but not forecast tax depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"3. Does not pay tax or tax equivalents and has a previously established regulatory tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"4. Does not pay tax or tax equivalents and does not have a previously established tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null," DECISIONS",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DO NOT DELETE"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"nominal","nominal $'000"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,"beware hidden columns",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2015-16 $","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Calculate forecast costs and prices in nominal or 2015-16 $?",null,null,null,null,null,null,null,"2015-16 $",null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency forecast"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast"]
[null,"Select forecast operating expenditure from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Checked - see X54",null,null,null,null,null,null,null,null,"Option 1 - Agency capex"]
[null,"Select capital expenditure",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator capex"]
[null,"  - historical capex up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,"new titles",null,null,null,null,null,null,null,null,2]
[null,"  - forecast capex from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency cap cons"]
[null,"Select cash capital contributions",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator cap cons"]
[null,"  - historical cash cap cons up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"  - forecast cash cap cons from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Allowed depreciation"]
[null,"Use allowed or actual depreciation to roll forward historical RAB?",null,null,null,null,null,null,null,"Allowed depreciation",null,null,"-",null,null,null,null,null,null,null,null,null,"Actual (calculated) depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Tax treatment of cash capital contributions (see comment)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance"]
[null,"  - historical period, up to and including 2015-16",null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance",null,null,null,"Checked - corrected spelling mistake",null,null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance"]
[null,"  - forecast period, from 2016-17",null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance",null,null,null,null,null,null,null,null,null,null,null,null,2,"Is this a trick? It is right but I needed to look at it a 2nd time"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Selected costs"]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[]
[null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,"Suggestion to move to Scenario sheet and use as sole source of data"]
[null,"Selected operating expenditure","$'000",null,null,"na","na","na","na",63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020,null,"moved"]
[]
[null,"Selected capital expenditure",null,null,null,null,null,null,"Option 2 - Regulator capex",null,"Option 2 - Regulator capex"]
[null," - depreciating assets","$'000",null,null,33900,32900,20900,34900,64900,53900,23900,69500,43900,53900,42900,31900,32400,32900,33400,null,"Historical capex needs to link to Scenario W43 (like cap cons)"]
[null," - non-depreciating assets","$'000",null,null,0,1900,0,0,190,2000,2000,0,4990,0,0,0,0,0,0,null,"corrected"]
[]
[null,"Selected cash capital contributions (before tax)",null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,"Option 2 - Regulator cap cons"]
[null," - depreciating assets","$'000",null,null,0,0,2990,210,340,1010,210,510,410,0,0,0,0,0,0]
[null," - non-depreciating assets","$'000",null,null,0,0,8,9,19,20,21,22,23,0,0,0,0,0,0]
[]
[]
[]
[]
[]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Pre-tax WACC"]
[null,"Pre- or post-tax WACC for forecast period?",null,null,null,null,null,null,null,"Post-tax WACC",null,null,null,null,null,null,null,null,null,null,null,null,"Post-tax WACC"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Use actual or notional cost of debt?",null,null,null,null,null,null,null,"Expected actual cost of debt",null,null,null,null,null,null,null,null,null,null,null,null,"Expected actual cost of debt"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Notional cost of debt (WACC risk free rate + debt margin)"]
[null,"Selected options",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[]
[null,"WACC"]
[null,"Cost of Debt (nominal pre-tax)",null,6.6500000000000004E-2]
[null,"Real pre-tax WACC",null,5.745231928420047E-2]
[null,"Real post-tax WACC",null,4.7240875912408685E-2]
[]
[null,"WACC used for forecast return on assets",null,4.7E-2,"Real post-tax WACC (rounded)"]
[null,"Pre-tax WACC for NPV calculations",null,5.7000000000000002E-2,"rounded"]
[]
[null,"Nominal cost of debt used for financial ratios = Expected actual cost of debt",null,null,null,"na","na","na","na",6.3E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2]
[]
[]
[]
[null,"Spare rows for additional inputs  or outputs"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"SETTING TARIFFS "]
[]
[null,"TABLE 3 - SETTING TARIFFS"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,null,"real 2015-16 prices"]
[null,null,null,null,null,null,null,null,null,null,"Next determination period",null,null,null,"Subsequent determinations"]
[null,"This model uses a very simple tariff structure. Most models will require more tariffs and a more complicated tariff structure.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the first 4 year period"]
[null,"Instructions:",null,null,null,null,null,null,null,null,0.2]
[null,"Step 1. Enter the usage charges",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the second 4 year period"]
[null,"Step 2. The model calculates the default access charges such that required revenue from tariffs = expected revenue from tariffs"]
[null,"Step 3. If you wish to change the access charges, enter alternative charges in the light blue cells. You can use Goal seek or Solver to set the tariffs, eg for NPV neutrality or a glide-path approach.",null,null,null,null,null,null,null,null,null,null,null,"This option gives an average increase for a Weighted Average Price Cap (WAPC)",null,null,null,null,null,null,null,"This macro keeps usage charges unchanged in real terms"]
[null,"Step 4. If you use Goal seek or Solver, consider developing a macro to automate the calculations. Remember to describe what the macros do. Two examples of a tariff-setting macro are provided."]
[null,null,null,null,null,null,null,null,null,null,5.5196704896433215E-3,null,null,null,1.6984737957324258E-2]
[null,"Access charge","$/year",null,null,null,null,null,null,90,90.496770344067912,90.996282696744103,91.498552193012571,92.003594051397442,93.566250987492467,95.155449242164252,96.771639612753887,98.415280553277128,100.08683830447109,101.78678702604961]
[null,"Default = the tariff that equates required revenue with expected revenue each year",null,null,null,null,null,null,null,null,92.684191791609081,94.552391947871584,89.701162717756375,87.548595042449492,80.313102580756464,67.926961128077551,53.369321143672771,39.95835513262363,23.371539301123772,6.7588752060893071]
[null,"Applicable access charge  ","$/year",null,null,null,null,null,null,90,90.496770344067912,90.996282696744103,91.498552193012571,92.003594051397442,93.566250987492467,95.155449242164252,96.771639612753887,98.415280553277128,100.08683830447109,101.78678702604961]
[]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0110393409792868,2.0221396154832023,2.0333011598447239,2.0445243122532766,2.0792500219442771,2.1145655387147615,2.1504808802834199,2.1870062345172698,2.2241519623215802,2.2619286005788806]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.5137991762241088,2.5276745193540031,2.5416264498059049,2.5556553903165957,2.5990625274303465,2.6432069233934516,2.6881011003542747,2.7337577931465873,2.7801899529019751,2.8274107507236006]
[null,null,null,null,null,null,null,null,null,null,"ok",null,null,null,"ok"]
[null,null,null,null,null,null,null,null,null,null,"ok"]
[null,"   Expected revenue from access charges","$'000",null,null,null,null,null,null,18900,19289.386598838075,19687.045761440586,20093.082061585559,20506.681078115977,21167.492960900421,21849.594254985757,22553.598328148422,23281.118767683238,24031.850745286552,24806.457866118551]
[null,"   Expected revenue from Tier 1 sales","$'000",null,null,null,null,null,null,81600,82854.820848346615,84121.008004101212,86415.299293400763,88527.902720566883,91902.850969937048,95366.905796035746,98922.120493037321,102570.59239885995,106314.46379897153,110382.11570824937]
[null,"   Expected revenue from Tier 2 sales","$'000",null,null,null,null,null,null,21250,21618.672915527335,21990.768318379825,22366.312758291962,23000.898512849362,23911.375252359187,24846.145079898444,25805.770563401038,26790.826372836556,27801.899529019753,28839.589657380726]
[null,"Total expected revenue from tariffs",null,null,null,null,null,null,null,121750,123762.88036271202,125798.82208392162,128874.6941132783,132035.48231153222,136981.71918319666,142062.64513091993,147281.48938458678,152642.53753937973,158148.21407327784,164028.16323174862]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,457087.54941858316,null,null,null,517908.70956440119]
[]
[null,"Revenue required from tariffs (ie, notional revenue requirement)",null,null,null,null,null,null,null,null,124229.12924425543,126568.18632040305,128479.98738451203,131042.50758242782,133983.45941914077,135810.43969016336,137166.14504218273,138813.96726186996,139728.1036295841,140868.91084210612]
[]
[null,"Difference between required and expected revenue",null,null,null,null,null,null,null,null,-466.24888154340442,-769.36423648142954,394.70672876626486,992.9747291044041,2998.2597640558961,6252.2054407565738,10115.344342404045,13828.570277509774,18420.110443693731,23159.252389642497]
[null,"WACC (for NPV calculations)",null,5.7000000000000002E-2]
[null,"NPV of difference between required and revenue expected from tariffs",null,null,null,null,null,null,null,null,2.8010814061160268E-6,null,null,null,28076.61299913378]
[]
[]
[]
[]
[null,"OUTPUT TABLES"]
[]
[null,"Table 4 - Regulatory asset base "]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"Opening value","$'000",null,null,660000,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,857573.82762818877,860972.50193213264,907312.02628572506,932196.90068896604,961607.95014185563,979238.0163110604,985270.43252991373,991292.6987984156,997296.48178323265]
[null,"Capex (net of cap cons)","$'000",null,null,33900,34800,17902,34681,64731,55179,25738.3,69127.600000000006,48586.9,53900,42900,31900,32400,32900,33400]
[null,"Disposals","$'000",null,null,1700,1000,1000,1300,1000,1200,1300,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Allowed depreciation","$'000",null,null,16717,17972.448780487808,18856.210122546112,19537.117190893929,20694.253730363755,20424.092412371319,21039.625696056104,21788.075646407557,22702.025596759006,23488.95054711046,24269.933830795246,24867.583781146695,25377.733731498149,25896.217015182934,26423.033632201052]
[null,"Indexation","$'000",null,null,8113.2000000000007,16811.908800000001,21740.599800585369,11290.688245463272,19825.553018803021,0,0,0,0,0,0,0,0,0,0]
[null,"Closing value","$'000",null,null,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,857573.82762818877,860972.50193213264,907312.02628572506,932196.90068896604,961607.95014185563,979238.0163110604,985270.43252991373,991292.6987984156,997296.48178323265,1003273.4481510316]
[]
[null,"Value of working capital (net)","$'000",null,null,null,null,null,null,5161.868493150685,5890.7890410958898,8385.910181704221,5297.6827226752685,7241.1179043767788,7211.7169973121891,8653.8557897091796,10113.367207921638,10706.923348784672,11318.011477457774,11947.697625472611]
[null,"check = 0",null,null,null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[]
[null,"Table 5 - Notional revenue requirement and target revenue"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"  Operating expenditure","$'000",null,null,null,null,null,null,63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020]
[null,"  Depreciation (regulatory)","$'000",null,null,null,null,null,null,19995.381365565809,19960.408541398298,20561.967502507119,21293.425551176893,22186.626288182742,22955.685847026118,23718.938631610497,24303.020260938392,24801.588384348426,25308.300651179205,25823.157061430735]
[null,"  Return on RAB","$'000",null,null,null,null,null,null,36349.879471020715,39089.343285425406,39952.173784767198,41111.674614776784,42768.438878357447,44033.49826874111,45131.803759460272,45688.973711480692,45977.543740234316,46265.647551634182,46552.902370939511]
[null,"  Return on working capital","$'000",null,null,null,null,null,null,354.73916341348445,270.58142978002974,385.18975151592116,243.33829570575878,332.60604345246452,331.25557250283998,397.49728879343553,464.53698136520308,491.80077711972876,519.86986912496718,548.79322337410144]
[null,"  Tax allowance","$'000",null,null,null,null,null,null,3200,2945.061316868931,3758.4737088170964,3788.7318971368131,3486.4484965802349,4497.359641160866,4162.9333470655174,4172.818784531285,5084.0458135566587,5005.7140768610143,5232.0775818157199]
[null,"     less adjustment for franking credits (gamma)","$'000",null,null,null,null,null,null,-800,-736.26532921723276,-939.6184272042741,-947.18297428420328,-871.61212414505871,-1124.3399102902165,-1040.7333367663794,-1043.2046961328213,-1271.0114533891647,-1251.4285192152536,-1308.01939545393]
[null,"Total revenue requirement ","$'000",null,null,null,null,null,null,122750,125229.12924425543,127568.18632040305,129479.98738451203,132042.50758242782,134983.45941914077,136810.43969016336,138166.14504218273,139813.96726186996,140728.1036295841,141868.91084210612]
[null,"   less"]
[null,"   Profit/loss on asset sales","$'000",null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"   Other regulatory revenue","$'000",null,null,null,null,null,null,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Revenue required from tariffs (ie, notional revenue requirement)","$'000",null,null,null,null,null,null,121750,124229.12924425543,126568.18632040305,128479.98738451203,131042.50758242782,133983.45941914077,135810.43969016336,137166.14504218273,138813.96726186996,139728.1036295841,140868.91084210612]
[]
[]
[null,"Target revenue from tariffs","$'000",null,null,null,null,null,null,121750,123762.88036271202,125798.82208392162,128874.6941132783,132035.48231153222,136981.71918319666,142062.64513091993,147281.48938458678,152642.53753937973,158148.21407327784,164028.16323174862]
[null,"Implied real return on RAB (post-tax)","%",null,null,null,null,null,null,4.9024370024107637E-2,4.6439394587099378E-2,4.6094914852207243E-2,4.7451239615652785E-2,4.8091220850979506E-2,5.0200250137987928E-2,5.3511010667371434E-2,5.7405599983383432E-2,6.1136092321830662E-2,6.5712484027969129E-2,7.0381675617988498E-2]
[]
[null,"NPV of required revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,457087.54941578215]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,457087.54941858316]
[null,"Difference",null,null,null,null,null,null,null,null,2.8010108508169651E-6]
[null,"check required revenue = 0",null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"Check NPVs = 0",null,null,null,null,null,null,null,null,0,0]
[]
[]
[]
[null,"Table 6 - Financial indicators"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,"Formula = (Adjusted FFO + Adjusted interest payments) / Adjusted interest payments",null,null,null,null,null,null,null,null,null,null,null,"This is a coverage ratio and measures a utility’s ability to service its debt prior to repayment."]
[null," - ratio (times)",null,null,null,null,null,null,null,2.62466234095402,2.6509642818551789,2.6131693487164651,2.7952255851590242,2.7067119216416207,2.7799901343901303,2.8576573671527377,3.014132471695127,3.2762878472081391,3.5862384110721823,3.9567710592380871]
[]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"Formula = Adjusted Debt / RAB",null,null,null,null,null,null,null,null,null,null,null,"This is a leverage ratio and measures a utility’s ability to repay its debt."]
[null," - ratio (%)",null,null,null,null,null,null,null,0.40598582370357855,0.40093105663417972,0.38834087096937758,0.39849738458905098,0.39850967625009481,0.3978716878827056,0.39001798907144014,0.3736355275071026,0.35497423849362092,0.33489071463842524,0.31327706233565256]
[]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,"Formula = Adjusted FFO /  Adjusted Debt",null,null,null,null,null,null,null,null,null,null,null,"This is a more dynamic measure of leverage than debt gearing and a useful indicator of a "]
[null," - ratio (%)",null,null,null,null,null,null,null,0.10227997484837624,0.10336708467408608,0.10674908970397949,0.1068259742645943,0.106894337277993,0.11122153435651656,0.11975868450270483,0.13447145642667166,0.15324826783527778,0.17534427126755811,0.20217826300054781,null,"utility’s ability to generate cash flows."]
[]
[]
[null,"Financial Ratio Benchmarks (for water utilities)",null,null,null,null,null,null,null,null,null,"Credit Rating Range"]
[null,null,null,null,null,null,null,null,null,"A3","Baa1","Baa2","Baa3","Ba1"]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,">2.9","2.3 - 2.9","1.7 - 2.5","1.4 / 1.5 - 1.7","<1.4 / 1.5"]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"<60%","80-85%","60-91%","90-100%",">100%"]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,">10%",">10%","6-10%","5-8%","<4%"]
[null,null,null,null,null,null,null,null,null,"Source: Kanangra Ratings Advisory Services advice to IPART, see IPART, Financeability tests in price regulation Research — Final Decision December 2013, p18"]
[]
[]
[]
[]
[null,"Table 7 - Tariffs"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,90.496770344067912,90.996282696744103,91.498552193012571,92.003594051397442,93.566250987492467,95.155449242164252,96.771639612753887,98.415280553277128,100.08683830447109,101.78678702604961]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0110393409792868,2.0221396154832023,2.0333011598447239,2.0445243122532766,2.0792500219442771,2.1145655387147615,2.1504808802834199,2.1870062345172698,2.2241519623215802,2.2619286005788806]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.5137991762241088,2.5276745193540031,2.5416264498059049,2.5556553903165957,2.5990625274303465,2.6432069233934516,2.6881011003542747,2.7337577931465873,2.7801899529019751,2.8274107507236006]
[]
[null,"Nominal prices",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,92.759189602669608,95.602969508266767,98.533933057728419,101.55475309776205,105.86162481663449,110.35114819322864,115.03106936679498,119.90946298536429,124.99474613759351,130.29569287545235]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0613153245037688,2.1245104335170391,2.1896429568384095,2.2567722910613788,2.3524805514807667,2.4522477376273035,2.5562459859287774,2.6646547330080956,2.7776610252798561,2.8954598416767192]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.5766441556297113,2.6556380418962995,2.7370536960480116,2.8209653638267236,2.9406006893509584,3.0653096720341289,3.1953074824109717,3.3308184162601195,3.4720762815998203,3.6193248020958988]
[]
[]
[]
[null,"Table 8 - Annual bills"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,291.60070444199658,293.21024424506436,294.82866817748499,296.45602527672509,301.49125318192017,306.61200311364041,311.81972764109588,317.1159040050041,322.50203453662914,327.97964708393766]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,5.5196704896434134E-3,5.5196704896436355E-3,5.5196704896434134E-3,5.5196704896431914E-3,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324469E-2,1.6984737957324025E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,517.84263030216641,520.70095098692457,523.57504866001636,526.46501040521866,535.40688065065137,544.50062621905113,553.74882667298061,563.15410538819697,572.71913029780694,582.44661464906176]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,5.5196704896434134E-3,5.5196704896434134E-3,5.5196704896434134E-3,5.5196704896434134E-3,1.6984737957324469E-2,1.6984737957324469E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324469E-2,1.6984737957324025E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1020.6024655469881,1026.2358548577254,1031.9003386211973,1037.5960884685378,1055.2193861367207,1073.1420108977413,1091.3690467438355,1109.9056640175145,1128.7571208782019,1147.9287647937817]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,5.5196704896434134E-3,5.5196704896436355E-3,5.5196704896431914E-3,5.5196704896434134E-3,1.6984737957324469E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324469E-2,1.6984737957324247E-2,1.6984737957324025E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,201.60070444199658,203.21024424506436,204.82866817748499,206.45602527672509,211.49125318192017,216.61200311364041,221.81972764109588,227.1159040050041,232.50203453662914,237.97964708393766]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,8.0035222099830161E-3,7.9838004907908378E-3,7.9642831907078548E-3,7.9449674389817648E-3,2.4388863916400938E-2,2.4212584939933501E-2,2.4041717229877468E-2,2.3876038530159072E-2,2.371533845338436E-2,2.3559417698108653E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,427.84263030216641,430.70095098692457,433.57504866001636,436.46501040521866,445.40688065065137,454.50062621905113,463.74882667298061,473.15410538819697,482.71913029780694,492.44661464906176]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,6.6885418874502722E-3,6.6807757860394279E-3,6.6730701813078053E-3,6.6654244844897015E-3,2.0487026525060958E-2,2.0416715509907757E-2,2.0348047770284428E-2,2.0280975765893716E-2,2.0215453698245733E-2,2.0151437431646047E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,930.60246554698813,936.23585485772537,941.90033862119731,947.5960884685378,965.21938613672069,983.14201089774133,1001.3690467438355,1019.9056640175145,1038.7571208782019,1057.9287647937817]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,6.0567195102574356E-3,6.0534863373975512E-3,6.0502743342731868E-3,6.0470833418302394E-3,1.8597900395161959E-2,1.856844673702196E-2,1.8539575813112164E-2,1.8511274473636652E-2,1.848352992415947E-2,1.8456329713890662E-2]
[null,"nominal prices'",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,298.89072205304649,308.05401285997073,317.49822874156939,327.23198220389992,341.10967996471118,355.57592195595896,370.65566795967271,386.37493628617386,402.76084866557915,419.84167704312426]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.0657662251884377E-2,3.0657662251884599E-2,3.0657662251884599E-2,3.0657662251884155E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257093E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,530.78869605972056,547.06143663063756,563.83306138589035,581.11886494830503,605.76374200629743,631.45379243903062,658.23334137666018,686.14859374958462,715.24771400956308,745.58090923175519]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.0657662251884599E-2,3.0657662251884377E-2,3.0657662251884377E-2,3.0657662251884599E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406256871E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1046.1175271856628,1078.1890450098977,1111.2438005954928,1145.3119377136497,1193.8838798764891,1244.5157268458563,1297.2948378588544,1352.3122770016087,1409.6629703295271,1469.4458696509348]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.0657662251884599E-2,3.0657662251884821E-2,3.0657662251884377E-2,3.0657662251884377E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257093E-2,4.2409356406257537E-2,4.2409356406257093E-2,4.2409356406256871E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,206.64072205304649,213.49776285997072,220.5780724915694,227.88882204764994,239.28294080455493,251.20351431679887,263.67395012953364,276.71867551028129,290.36318137028928,304.63406806545214]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.3203610265232442E-2,3.3183395503060487E-2,3.3163390270475768E-2,3.3143591624956059E-2,4.99985855143108E-2,4.9817899563431967E-2,4.9642760160624189E-2,4.9472939493413026E-2,4.9308221914718731E-2,4.9148403140561125E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,438.53869605972051,452.50518663063758,466.91290513589036,481.77570479205502,503.93700284614124,527.08138479987053,551.25162354652116,576.4923329736921,602.85004671427316,630.37330025408312]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.185575543463659E-2,3.1847795180690586E-2,3.1839896935840439E-2,3.1832060096602E-2,4.5999202188187427E-2,4.5927133397655195E-2,4.5856748964541616E-2,4.5788000160041031E-2,4.5720840040701649E-2,4.5655223367436992E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,953.86752718566277,983.63279500989768,1014.3236443454927,1045.9687775573998,1092.0571407163329,1140.1433192066961,1190.3131200287153,1242.656016225716,1297.2653030342371,1354.2382606732626]
[null," ---- percentage change","%",null,null,null,null,null,null,null,3.1208137498013766E-2,3.1204823495832645E-2,3.1201531192629917E-2,3.119826042537599E-2,4.406284790504067E-2,4.4032657905447303E-2,4.4003065208439773E-2,4.3974056335477574E-2,4.3945618172263279E-2,4.3917737956737701E-2]

{"sheet":"Sc4","index":5,"n_rows":269,"n_cols":24,"rows_kept":269,"cut":false,"hidden":false,"merged":[]}
[null,"THE INDEPENDENT PRICING AND REGULATORY TRIBUNAL OF NSW",null,null,null,"IPART TEMPLATE FOR COST BUILDING BLOCKS, SIMPLE TARIFF SETTING AND FINANCIAL RATIO ANALYSIS"]
[]
[null,"4   SCENARIO INPUTS, TARIFFS AND OUTPUT TABLES"]
[]
[null,"On this worksheet enter your key decisions about costs and other inputs, then set the tariffs. The worksheet also contains the main output tables for easy reference."]
[null,"To use the Summary workbook, copy and past the values of this worksheet onto one of the worksheets S1 to S12. Copy and paste values for each scenario onto a different worksheet."]
[]
[]
[null,"List of tables",null,null,null,null,null,null,null,"row number"]
[null," DECISIONS"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,null,null,null,null,null,36]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT",null,null,null,null,null,null,null,76]
[null,"SETTING TARIFFS "]
[null,"TABLE 3 - SETTING TARIFFS",null,null,null,null,null,null,null,114]
[]
[null,"OUTPUT TABLES"]
[null,"Table 4 - Regulatory asset base ",null,null,null,null,null,null,null,150]
[null,"Table 5 - Notional revenue requirement and target revenue",null,null,null,null,null,null,null,167]
[null,"Table 6 - Financial indicators",null,null,null,null,null,null,null,195]
[null,"Table 7 - Tariffs",null,null,null,null,null,null,null,218]
[null,"Table 8 - Annual bills",null,null,null,null,null,null,null,234]
[]
[]
[]
[null,"Name of regulated business",null,"A  Regulated Business"]
[null,"Scenario number",null,4,null,null,null,null,null,null,"These are useful for keeping track of model runs. They are particularly useful if a Scenario Summary workbook is used."]
[null,"Scenario description",null,"3 + higher WACC",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DATA FOR SELECTIONS - DO NOT DELETE"]
[]
[null,"Type of business with regard to tax (select option)",null,"1. Pays tax and can provide forecast tax depreciation",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"1. Pays tax and can provide forecast tax depreciation"]
[null,null,null,"ok",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2. Pays tax or tax equivalent and can provide tax value of assets but not forecast tax depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"3. Does not pay tax or tax equivalents and has a previously established regulatory tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"4. Does not pay tax or tax equivalents and does not have a previously established tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null," DECISIONS",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DO NOT DELETE"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"nominal","nominal $'000"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,"beware hidden columns",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2015-16 $","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Calculate forecast costs and prices in nominal or 2015-16 $?",null,null,null,null,null,null,null,"2015-16 $",null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency forecast"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast"]
[null,"Select forecast operating expenditure from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Checked - see X54",null,null,null,null,null,null,null,null,"Option 1 - Agency capex"]
[null,"Select capital expenditure",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator capex"]
[null,"  - historical capex up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,"new titles",null,null,null,null,null,null,null,null,2]
[null,"  - forecast capex from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency cap cons"]
[null,"Select cash capital contributions",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator cap cons"]
[null,"  - historical cash cap cons up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"  - forecast cash cap cons from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Allowed depreciation"]
[null,"Use allowed or actual depreciation to roll forward historical RAB?",null,null,null,null,null,null,null,"Allowed depreciation",null,null,"-",null,null,null,null,null,null,null,null,null,"Actual (calculated) depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Tax treatment of cash capital contributions (see comment)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance"]
[null,"  - historical period, up to and including 2015-16",null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance",null,null,null,"Checked - corrected spelling mistake",null,null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance"]
[null,"  - forecast period, from 2016-17",null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance",null,null,null,null,null,null,null,null,null,null,null,null,2,"Is this a trick? It is right but I needed to look at it a 2nd time"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Selected costs"]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[]
[null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,"Suggestion to move to Scenario sheet and use as sole source of data"]
[null,"Selected operating expenditure","$'000",null,null,"na","na","na","na",63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020,null,"moved"]
[]
[null,"Selected capital expenditure",null,null,null,null,null,null,"Option 2 - Regulator capex",null,"Option 2 - Regulator capex"]
[null," - depreciating assets","$'000",null,null,33900,32900,20900,34900,64900,53900,23900,69500,43900,53900,42900,31900,32400,32900,33400,null,"Historical capex needs to link to Scenario W43 (like cap cons)"]
[null," - non-depreciating assets","$'000",null,null,0,1900,0,0,190,2000,2000,0,4990,0,0,0,0,0,0,null,"corrected"]
[]
[null,"Selected cash capital contributions (before tax)",null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,"Option 2 - Regulator cap cons"]
[null," - depreciating assets","$'000",null,null,0,0,2990,210,340,1010,210,510,410,0,0,0,0,0,0]
[null," - non-depreciating assets","$'000",null,null,0,0,8,9,19,20,21,22,23,0,0,0,0,0,0]
[]
[]
[]
[]
[]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Pre-tax WACC"]
[null,"Pre- or post-tax WACC for forecast period?",null,null,null,null,null,null,null,"Post-tax WACC",null,null,null,null,null,null,null,null,null,null,null,null,"Post-tax WACC"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Use actual or notional cost of debt?",null,null,null,null,null,null,null,"Expected actual cost of debt",null,null,null,null,null,null,null,null,null,null,null,null,"Expected actual cost of debt"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Notional cost of debt (WACC risk free rate + debt margin)"]
[null,"Selected options",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[]
[null,"WACC"]
[null,"Cost of Debt (nominal pre-tax)",null,7.1500000000000008E-2]
[null,"Real pre-tax WACC",null,6.1954320696962384E-2]
[null,"Real post-tax WACC",null,5.1386861313868423E-2]
[]
[null,"WACC used for forecast return on assets",null,5.0999999999999997E-2,"Real post-tax WACC (rounded)"]
[null,"Pre-tax WACC for NPV calculations",null,6.2E-2,"rounded"]
[]
[null,"Nominal cost of debt used for financial ratios = Expected actual cost of debt",null,null,null,"na","na","na","na",6.3E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2]
[]
[]
[]
[null,"Spare rows for additional inputs  or outputs"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"SETTING TARIFFS "]
[]
[null,"TABLE 3 - SETTING TARIFFS"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,null,"real 2015-16 prices"]
[null,null,null,null,null,null,null,null,null,null,"Next determination period",null,null,null,"Subsequent determinations"]
[null,"This model uses a very simple tariff structure. Most models will require more tariffs and a more complicated tariff structure.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the first 4 year period"]
[null,"Instructions:",null,null,null,null,null,null,null,null,0.2]
[null,"Step 1. Enter the usage charges",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the second 4 year period"]
[null,"Step 2. The model calculates the default access charges such that required revenue from tariffs = expected revenue from tariffs"]
[null,"Step 3. If you wish to change the access charges, enter alternative charges in the light blue cells. You can use Goal seek or Solver to set the tariffs, eg for NPV neutrality or a glide-path approach.",null,null,null,null,null,null,null,null,null,null,null,"This option gives an average increase for a Weighted Average Price Cap (WAPC)",null,null,null,null,null,null,null,"This macro keeps usage charges unchanged in real terms"]
[null,"Step 4. If you use Goal seek or Solver, consider developing a macro to automate the calculations. Remember to describe what the macros do. Two examples of a tariff-setting macro are provided."]
[null,null,null,null,null,null,null,null,null,null,1.6931065820000327E-2,null,null,null,1.6984737957324258E-2]
[null,"Access charge","$/year",null,null,null,null,null,null,90,91.523795923800037,93.073391336682178,94.649223051494189,96.251735276790939,97.88654577840498,99.54912310799881,101.23993887786958,102.95947271052572,104.70821237473827,106.48665392390305]
[null,"Default = the tariff that equates required revenue with expected revenue each year",null,null,null,null,null,null,null,null,103.21756542457183,99.648938311224455,89.139264354097605,81.423965654898495,73.936770934722162,61.207121682796974,46.091759731865672,32.004054377155903,14.738907700151589,-2.5966925486228205]
[null,"Applicable access charge  ","$/year",null,null,null,null,null,null,90,91.523795923800037,93.073391336682178,94.649223051494189,96.251735276790939,97.88654577840498,99.54912310799881,101.23993887786958,102.95947271052572,104.70821237473827,106.48665392390305]
[]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0338621316400007,2.0682975852596037,2.1033160678109817,2.1389274505953537,2.1752565728534434,2.2122027357333063,2.2497764195082124,2.2879882824561264,2.3268491638830722,2.3663700871978453]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.542327664550001,2.5853719815745051,2.6291450847637279,2.673659313244193,2.7190707160668053,2.7652534196666338,2.8122205243852663,2.8599853530701589,2.908561454853841,2.9579626089973075]
[null,null,null,null,null,null,null,null,null,null,"ok",null,null,null,"ok"]
[null,null,null,null,null,null,null,null,null,null,"ok"]
[null,"   Expected revenue from access charges","$'000",null,null,null,null,null,null,18900,19508.297101157979,20136.42821569119,20784.969382108127,21453.549275843932,22144.873251448556,22858.469648058686,23594.980154876284,24356.092864401962,25141.488873298407,25951.862427794411]
[null,"   Expected revenue from Tier 1 sales","$'000",null,null,null,null,null,null,81600,83795.119823568035,86041.179546799511,89390.932881966728,92615.558610778811,96146.340520122205,99770.343381572107,103489.71529737777,107306.65044719233,111223.39003361085,115478.86025525485]
[null,"   Expected revenue from Tier 2 sales","$'000",null,null,null,null,null,null,21250,21864.017915130007,22492.736239698195,23136.476745920805,24062.933819197737,25015.450587814608,25993.382144866358,26997.317034098556,28027.856460087558,29085.614548538411,30171.218611772536]
[null,"Total expected revenue from tariffs",null,null,null,null,null,null,null,121750,125167.43483985603,128670.3440021889,133312.37900999567,138132.04170582048,143306.66435938538,148622.19517449714,154082.01248635261,159690.59977168185,165450.49345544766,171601.94129482179]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,465633.75752884866,null,null,null,536801.27371499548]
[]
[null,"Revenue required from tariffs (ie, notional revenue requirement)",null,null,null,null,null,null,null,null,127659.96180894553,130092.96359013111,132102.39208004737,134827.08013479688,137888.50679649902,139818.10480724231,141229.17785458494,142905.38601073989,143847.96371003267,145017.23892600252]
[]
[null,"Difference between required and expected revenue",null,null,null,null,null,null,null,null,-2492.5269690895075,-1422.6195879422157,1209.9869299482962,3304.9615710235958,5418.1575628863648,8804.0903672548302,12852.834631767677,16785.213760941959,21602.529745414999,26584.702368819271]
[null,"WACC (for NPV calculations)",null,6.2E-2]
[null,"NPV of difference between required and revenue expected from tariffs",null,null,null,null,null,null,null,null,-9.8213878813214979E-5,null,null,null,36834.191076572257]
[]
[]
[]
[]
[null,"OUTPUT TABLES"]
[]
[null,"Table 4 - Regulatory asset base "]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"Opening value","$'000",null,null,660000,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,857573.82762818877,860972.50193213264,907312.02628572506,932196.90068896604,961607.95014185563,979238.0163110604,985270.43252991373,991292.6987984156,997296.48178323265]
[null,"Capex (net of cap cons)","$'000",null,null,33900,34800,17902,34681,64731,55179,25738.3,69127.600000000006,48586.9,53900,42900,31900,32400,32900,33400]
[null,"Disposals","$'000",null,null,1700,1000,1000,1300,1000,1200,1300,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Allowed depreciation","$'000",null,null,16717,17972.448780487808,18856.210122546112,19537.117190893929,20694.253730363755,20424.092412371319,21039.625696056104,21788.075646407557,22702.025596759006,23488.95054711046,24269.933830795246,24867.583781146695,25377.733731498149,25896.217015182934,26423.033632201052]
[null,"Indexation","$'000",null,null,8113.2000000000007,16811.908800000001,21740.599800585369,11290.688245463272,19825.553018803021,0,0,0,0,0,0,0,0,0,0]
[null,"Closing value","$'000",null,null,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,857573.82762818877,860972.50193213264,907312.02628572506,932196.90068896604,961607.95014185563,979238.0163110604,985270.43252991373,991292.6987984156,997296.48178323265,1003273.4481510316]
[]
[null,"Value of working capital (net)","$'000",null,null,null,null,null,null,5161.868493150685,5890.7890410958898,8559.0744323110157,5651.7059728726035,7788.2297409583716,7963.3476075669059,9433.6435511571017,10922.078857129785,11545.34400516676,12186.950656782694,12847.978645192175]
[null,"check = 0",null,null,null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[]
[null,"Table 5 - Notional revenue requirement and target revenue"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"  Operating expenditure","$'000",null,null,null,null,null,null,63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020]
[null,"  Depreciation (regulatory)","$'000",null,null,null,null,null,null,19995.381365565809,19922.388681087115,20522.801814563063,21252.86660854187,22144.36600926593,22911.960691429173,23673.759659865857,24256.728751746872,24754.347220726318,25260.094320458295,25773.9700509428]
[null,"  Return on RAB","$'000",null,null,null,null,null,null,36349.879471020715,42335.30326848093,43269.782791255333,44525.568004122142,46319.909163320393,47690.018467881186,48879.526710358354,49482.96378318491,49795.496526246723,50107.524337493334,50418.632656756352]
[null,"  Return on working capital","$'000",null,null,null,null,null,null,354.73916341348445,293.05037961146377,425.79016053932531,281.15666156915665,387.4427799343751,396.15440700646479,469.29754307947979,543.34306200732351,574.34877057312406,606.2669179563668,639.15122285776295]
[null,"  Tax allowance","$'000",null,null,null,null,null,null,3200,3212.2926396880362,4032.7850983645262,4070.4010744189345,3780.4829097015981,4800.4976402429102,4474.0278585848182,4488.1896768610668,5401.5913242583483,5325.4375121662088,5553.9799939274953]
[null,"     less adjustment for franking credits (gamma)","$'000",null,null,null,null,null,null,-800,-803.07315992200904,-1008.1962745911316,-1017.6002686047336,-945.12072742539954,-1200.1244100607275,-1118.5069646462046,-1122.0474192152667,-1350.3978310645871,-1331.3593780415522,-1388.4949984818738]
[null,"Total revenue requirement ","$'000",null,null,null,null,null,null,122750,128659.96180894553,131092.96359013111,133102.39208004737,135827.08013479688,138888.50679649902,140818.10480724231,142229.17785458494,143905.38601073989,144847.96371003267,146017.23892600252]
[null,"   less"]
[null,"   Profit/loss on asset sales","$'000",null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"   Other regulatory revenue","$'000",null,null,null,null,null,null,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Revenue required from tariffs (ie, notional revenue requirement)","$'000",null,null,null,null,null,null,121750,127659.96180894553,130092.96359013111,132102.39208004737,134827.08013479688,137888.50679649902,139818.10480724231,141229.17785458494,142905.38601073989,143847.96371003267,145017.23892600252]
[]
[]
[null,"Target revenue from tariffs","$'000",null,null,null,null,null,null,121750,125167.43483985603,128670.3440021889,133312.37900999567,138132.04170582048,143306.66435938538,148622.19517449714,154082.01248635261,159690.59977168185,165450.49345544766,171601.94129482179]
[null,"Implied real return on RAB (post-tax)","%",null,null,null,null,null,null,4.9024370024107637E-2,4.7997331645000731E-2,4.9323227104349672E-2,5.2385930291145306E-2,5.4638889694880392E-2,5.6794211128127554E-2,6.0186026112540994E-2,6.4246873592541359E-2,6.819123136681296E-2,7.2987296949567876E-2,7.7891245346537477E-2]
[]
[null,"NPV of required revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,465633.7576270625]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,465633.75752884866]
[null,"Difference",null,null,null,null,null,null,null,null,-9.821384446695447E-5]
[null,"check required revenue = 0",null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"Check NPVs = 0",null,null,null,null,null,null,null,null,0,0]
[]
[]
[]
[null,"Table 6 - Financial indicators"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,"Formula = (Adjusted FFO + Adjusted interest payments) / Adjusted interest payments",null,null,null,null,null,null,null,null,null,null,null,"This is a coverage ratio and measures a utility’s ability to service its debt prior to repayment."]
[null," - ratio (times)",null,null,null,null,null,null,null,2.62466234095402,2.6966363650786791,2.7074633556434038,2.9500975667070914,2.9095434861185718,2.998738872494445,3.0923645802107647,3.2767544647651694,3.5841235825718898,3.9527443473203387,4.4004145616706101]
[]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"Formula = Adjusted Debt / RAB",null,null,null,null,null,null,null,null,null,null,null,"This is a leverage ratio and measures a utility’s ability to repay its debt."]
[null," - ratio (%)",null,null,null,null,null,null,null,0.40598582370357855,0.40035781844620932,0.38680475775173079,0.39553455945290728,0.39355868752125034,0.39100547071927366,0.38099084470806155,0.36231317708704558,0.34130291156757869,0.31881525912208836,0.29473718742704175]
[]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,"Formula = Adjusted FFO /  Adjusted Debt",null,null,null,null,null,null,null,null,null,null,null,"This is a more dynamic measure of leverage than debt gearing and a useful indicator of a "]
[null," - ratio (%)",null,null,null,null,null,null,null,0.10227997484837624,0.10637871647119833,0.11327527515988363,0.11644820496312151,0.12020164201030094,0.12550325270480409,0.13570139834816927,0.15312508753382209,0.17545528806841851,0.20218329964348244,0.23526862916782909,null,"utility’s ability to generate cash flows."]
[]
[]
[null,"Financial Ratio Benchmarks (for water utilities)",null,null,null,null,null,null,null,null,null,"Credit Rating Range"]
[null,null,null,null,null,null,null,null,null,"A3","Baa1","Baa2","Baa3","Ba1"]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,">2.9","2.3 - 2.9","1.7 - 2.5","1.4 / 1.5 - 1.7","<1.4 / 1.5"]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"<60%","80-85%","60-91%","90-100%",">100%"]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,">10%",">10%","6-10%","5-8%","<4%"]
[null,null,null,null,null,null,null,null,null,"Source: Kanangra Ratings Advisory Services advice to IPART, see IPART, Financeability tests in price regulation Research — Final Decision December 2013, p18"]
[]
[]
[]
[]
[null,"Table 7 - Tariffs"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,91.523795923800037,93.073391336682178,94.649223051494189,96.251735276790939,97.88654577840498,99.54912310799881,101.23993887786958,102.95947271052572,104.70821237473827,106.48665392390305]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0338621316400007,2.0682975852596037,2.1033160678109817,2.1389274505953537,2.1752565728534434,2.2122027357333063,2.2497764195082124,2.2879882824561264,2.3268491638830722,2.3663700871978453]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.542327664550001,2.5853719815745051,2.6291450847637279,2.673659313244193,2.7190707160668053,2.7652534196666338,2.8122205243852663,2.8599853530701589,2.908561454853841,2.9579626089973075]
[]
[null,"Nominal prices",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,93.811890821895034,97.7852317731017,101.92686096768797,106.24390614354687,110.7496418251815,115.44646285721096,120.34247304636415,125.44611987659781,130.76620908422649,136.31191985117459]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0847086849310004,2.173005150513371,2.2650413548375101,2.360975692078819,2.4611031516706992,2.5654769523824648,2.6742771788080915,2.7876915528132837,2.9059157574272549,3.0291537744705463]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.6058858561637508,2.716256438141714,2.8313016935468887,2.9512196150985246,3.0763789395883752,3.2068461904780823,3.3428464735101153,3.484614441016606,3.6323946967840697,3.786442218088184]
[]
[]
[]
[null,"Table 8 - Annual bills"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,294.91000908780012,299.90314986264252,304.98082983259235,310.1444803363263,315.4122030637493,320.76939668132945,326.21758082869081,331.75830095613833,337.39312876304547,343.12366264368757]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,1.6931065820000368E-2,1.6931065820000146E-2,1.6931065820000368E-2,1.6931065820000368E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324025E-2,1.6984737957324247E-2,1.6984737957324247E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,523.71949889730013,532.58662820434802,541.60388746132787,550.77381852830365,560.12856750976175,569.64220445132651,579.31742802336476,589.15698273245266,599.16365969989113,609.34029745344526]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,1.6931065820000146E-2,1.693106582000059E-2,1.6931065820000368E-2,1.6931065820000368E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324469E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1032.1850318073004,1049.6610245192489,1067.4329044140734,1085.5056811771422,1103.9427107231229,1122.6928883846533,1141.7615329004179,1161.1540533464843,1180.8759506706592,1200.9328192529067]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,1.6931065820000368E-2,1.6931065820000368E-2,1.6931065820000368E-2,1.6931065820000368E-2,1.6984737957324469E-2,1.6984737957324247E-2,1.6984737957324025E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324469E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,204.91000908780012,209.90314986264252,214.98082983259235,220.1444803363263,225.4122030637493,230.76939668132945,236.21758082869081,241.75830095613833,247.39312876304547,253.12366264368757]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,2.4550045439000634E-2,2.4367481105829869E-2,2.4190584911529811E-2,2.4019120717670095E-2,2.3928479693768434E-2,2.3766209392244164E-2,2.3608780998308765E-2,2.34560023348378E-2,2.3307691130446173E-2,2.3163674388591682E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,433.71949889730013,442.58662820434802,451.60388746132787,460.77381852830365,470.12856750976175,479.64220445132651,489.31742802336476,499.15698273245266,509.16365969989113,519.34029745344526]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,2.0516467993647369E-2,2.0444387051059332E-2,2.0373998404706661E-2,2.0305252726065204E-2,2.0302258082581348E-2,2.0236245144509724E-2,2.0171751948113048E-2,2.010873544569125E-2,2.0047154129068989E-2,1.9986967961445723E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,942.18503180730045,959.66102451924894,977.43290441407339,995.50568117714215,1013.9427107231229,1032.6928883846533,1051.7615329004179,1071.1540533464843,1090.8759506706592,1110.9328192529067]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,1.857841276464911E-2,1.8548365896267738E-2,1.8518913908926793E-2,1.8490043338476037E-2,1.852026552392938E-2,1.8492344254990689E-2,1.8464971270976793E-2,1.8438134348370827E-2,1.8411821588650179E-2,1.8386021407765796E-2]
[null,"nominal prices'",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,302.28275931499508,315.08574682443879,328.430996451439,342.34147535142876,356.8599569922514,371.99415809545746,387.7701909271733,404.21527515792616,421.35778482695201,439.22729729822925]
[null," ---- percentage change","%",null,null,null,null,null,null,null,4.2354342465500183E-2,4.2354342465500405E-2,4.2354342465500405E-2,4.2354342465500183E-2,4.2409356406257093E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257093E-2,4.2409356406257315E-2,4.2409356406257093E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,536.8124863697326,559.54882625719313,583.24814887065895,607.95124071029591,633.73406155520513,660.61031523848487,688.62637354308367,717.83057484942071,748.27330753751824,780.0070969261659]
[null," ---- percentage change","%",null,null,null,null,null,null,null,4.2354342465500183E-2,4.2354342465500627E-2,4.2354342465500183E-2,4.2354342465500183E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257093E-2,4.2409356406257093E-2,4.2409356406257315E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1057.9896576024828,1102.8001138855359,1149.5084875800367,1198.1951637300008,1249.0098494728802,1301.9795533341014,1357.1956682451066,1414.7534630527416,1474.7522468943321,1537.2955405438026]
[null," ---- percentage change","%",null,null,null,null,null,null,null,4.2354342465500183E-2,4.2354342465500405E-2,4.2354342465500405E-2,4.2354342465500183E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257093E-2,4.2409356406257315E-2,4.2409356406257315E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,210.0327593149951,220.52949682443878,231.51084020143898,242.99831519517875,255.03321783209518,267.62175045629738,280.78847309703417,294.55901438203358,308.96011753166215,324.01968832055712]
[null," ---- percentage change","%",null,null,null,null,null,null,null,5.0163796574975494E-2,4.9976668133475677E-2,4.9795349534317968E-2,4.9619598735611836E-2,4.9526691686112567E-2,4.9360364627050402E-2,4.9199000523266312E-2,4.9042402393208784E-2,4.8890383408707327E-2,4.874276624830598E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,444.5624863697326,464.99257625719309,486.32799262065896,508.60808055404596,531.90732239504894,556.23790759932479,581.64465571294454,608.17431407352819,635.87564024222831,664.79948794849372]
[null," ---- percentage change","%",null,null,null,null,null,null,null,4.6029379693488526E-2,4.5955496727335676E-2,4.5883348364824217E-2,4.5812884044216906E-2,4.5809814534645721E-2,4.5742151273122422E-2,4.5676045746815719E-2,4.5611453831833515E-2,4.5548332982295436E-2,4.5486642160481594E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,965.73965760248291,1008.2438638855358,1052.5883313300367,1098.8520035737506,1147.183110312724,1197.6071456949412,1250.2139504149675,1305.0972022768492,1362.3545795990422,1422.0879315661305]
[null," ---- percentage change","%",null,null,null,null,null,null,null,4.4042873083765199E-2,4.4012075043674326E-2,4.3981886756649935E-2,4.395229442193771E-2,4.3983272162027465E-2,4.3954652861365462E-2,4.3926595552751024E-2,4.3899087707080175E-2,4.387211712836625E-2,4.384567194295963E-2]

{"sheet":"Sc5","index":6,"n_rows":269,"n_cols":24,"rows_kept":269,"cut":false,"hidden":false,"merged":[]}
[null,"THE INDEPENDENT PRICING AND REGULATORY TRIBUNAL OF NSW",null,null,null,"IPART TEMPLATE FOR COST BUILDING BLOCKS, SIMPLE TARIFF SETTING AND FINANCIAL RATIO ANALYSIS"]
[]
[null,"4   SCENARIO INPUTS, TARIFFS AND OUTPUT TABLES"]
[]
[null,"On this worksheet enter your key decisions about costs and other inputs, then set the tariffs. The worksheet also contains the main output tables for easy reference."]
[null,"To use the Summary workbook, copy and past the values of this worksheet onto one of the worksheets S1 to S12. Copy and paste values for each scenario onto a different worksheet."]
[]
[]
[null,"List of tables",null,null,null,null,null,null,null,"row number"]
[null," DECISIONS"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,null,null,null,null,null,36]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT",null,null,null,null,null,null,null,76]
[null,"SETTING TARIFFS "]
[null,"TABLE 3 - SETTING TARIFFS",null,null,null,null,null,null,null,114]
[]
[null,"OUTPUT TABLES"]
[null,"Table 4 - Regulatory asset base ",null,null,null,null,null,null,null,150]
[null,"Table 5 - Notional revenue requirement and target revenue",null,null,null,null,null,null,null,167]
[null,"Table 6 - Financial indicators",null,null,null,null,null,null,null,195]
[null,"Table 7 - Tariffs",null,null,null,null,null,null,null,218]
[null,"Table 8 - Annual bills",null,null,null,null,null,null,null,234]
[]
[]
[]
[null,"Name of regulated business",null,"A  Regulated Business"]
[null,"Scenario number",null,5,null,null,null,null,null,null,"These are useful for keeping track of model runs. They are particularly useful if a Scenario Summary workbook is used."]
[null,"Scenario description",null,"4 + shorter asset lives",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DATA FOR SELECTIONS - DO NOT DELETE"]
[]
[null,"Type of business with regard to tax (select option)",null,"1. Pays tax and can provide forecast tax depreciation",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"1. Pays tax and can provide forecast tax depreciation"]
[null,null,null,"ok",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2. Pays tax or tax equivalent and can provide tax value of assets but not forecast tax depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"3. Does not pay tax or tax equivalents and has a previously established regulatory tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"4. Does not pay tax or tax equivalents and does not have a previously established tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null," DECISIONS",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DO NOT DELETE"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"nominal","nominal $'000"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,"beware hidden columns",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2015-16 $","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Calculate forecast costs and prices in nominal or 2015-16 $?",null,null,null,null,null,null,null,"2015-16 $",null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency forecast"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast"]
[null,"Select forecast operating expenditure from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Checked - see X54",null,null,null,null,null,null,null,null,"Option 1 - Agency capex"]
[null,"Select capital expenditure",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator capex"]
[null,"  - historical capex up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,"new titles",null,null,null,null,null,null,null,null,2]
[null,"  - forecast capex from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency cap cons"]
[null,"Select cash capital contributions",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator cap cons"]
[null,"  - historical cash cap cons up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"  - forecast cash cap cons from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Allowed depreciation"]
[null,"Use allowed or actual depreciation to roll forward historical RAB?",null,null,null,null,null,null,null,"Allowed depreciation",null,null,"-",null,null,null,null,null,null,null,null,null,"Actual (calculated) depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Tax treatment of cash capital contributions (see comment)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance"]
[null,"  - historical period, up to and including 2015-16",null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance",null,null,null,"Checked - corrected spelling mistake",null,null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance"]
[null,"  - forecast period, from 2016-17",null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance",null,null,null,null,null,null,null,null,null,null,null,null,2,"Is this a trick? It is right but I needed to look at it a 2nd time"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Selected costs"]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[]
[null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,"Suggestion to move to Scenario sheet and use as sole source of data"]
[null,"Selected operating expenditure","$'000",null,null,"na","na","na","na",63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020,null,"moved"]
[]
[null,"Selected capital expenditure",null,null,null,null,null,null,"Option 2 - Regulator capex",null,"Option 2 - Regulator capex"]
[null," - depreciating assets","$'000",null,null,33900,32900,20900,34900,64900,53900,23900,69500,43900,53900,42900,31900,32400,32900,33400,null,"Historical capex needs to link to Scenario W43 (like cap cons)"]
[null," - non-depreciating assets","$'000",null,null,0,1900,0,0,190,2000,2000,0,4990,0,0,0,0,0,0,null,"corrected"]
[]
[null,"Selected cash capital contributions (before tax)",null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,"Option 2 - Regulator cap cons"]
[null," - depreciating assets","$'000",null,null,0,0,2990,210,340,1010,210,510,410,0,0,0,0,0,0]
[null," - non-depreciating assets","$'000",null,null,0,0,8,9,19,20,21,22,23,0,0,0,0,0,0]
[]
[]
[]
[]
[]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Pre-tax WACC"]
[null,"Pre- or post-tax WACC for forecast period?",null,null,null,null,null,null,null,"Post-tax WACC",null,null,null,null,null,null,null,null,null,null,null,null,"Post-tax WACC"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Use actual or notional cost of debt?",null,null,null,null,null,null,null,"Expected actual cost of debt",null,null,null,null,null,null,null,null,null,null,null,null,"Expected actual cost of debt"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Notional cost of debt (WACC risk free rate + debt margin)"]
[null,"Selected options",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[]
[null,"WACC"]
[null,"Cost of Debt (nominal pre-tax)",null,7.1500000000000008E-2]
[null,"Real pre-tax WACC",null,6.1954320696962384E-2]
[null,"Real post-tax WACC",null,5.1386861313868423E-2]
[]
[null,"WACC used for forecast return on assets",null,5.0999999999999997E-2,"Real post-tax WACC (rounded)"]
[null,"Pre-tax WACC for NPV calculations",null,6.2E-2,"rounded"]
[]
[null,"Nominal cost of debt used for financial ratios = Expected actual cost of debt",null,null,null,"na","na","na","na",6.3E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2]
[]
[]
[]
[null,"Spare rows for additional inputs  or outputs"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"SETTING TARIFFS "]
[]
[null,"TABLE 3 - SETTING TARIFFS"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,null,"real 2015-16 prices"]
[null,null,null,null,null,null,null,null,null,null,"Next determination period",null,null,null,"Subsequent determinations"]
[null,"This model uses a very simple tariff structure. Most models will require more tariffs and a more complicated tariff structure.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the first 4 year period"]
[null,"Instructions:",null,null,null,null,null,null,null,null,0.2]
[null,"Step 1. Enter the usage charges",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the second 4 year period"]
[null,"Step 2. The model calculates the default access charges such that required revenue from tariffs = expected revenue from tariffs"]
[null,"Step 3. If you wish to change the access charges, enter alternative charges in the light blue cells. You can use Goal seek or Solver to set the tariffs, eg for NPV neutrality or a glide-path approach.",null,null,null,null,null,null,null,null,null,null,null,"This option gives an average increase for a Weighted Average Price Cap (WAPC)",null,null,null,null,null,null,null,"This macro keeps usage charges unchanged in real terms"]
[null,"Step 4. If you use Goal seek or Solver, consider developing a macro to automate the calculations. Remember to describe what the macros do. Two examples of a tariff-setting macro are provided."]
[null,null,null,null,null,null,null,null,null,null,2.5815310032277574E-2,null,null,null,1.6984737957324258E-2]
[null,"Access charge","$/year",null,null,null,null,null,null,90,92.32337790290498,94.706734526695598,97.151618240646854,99.659617385666621,101.35230987188936,103.07375229643293,104.82443296946599,106.60484849497747,108.41550391164492,110.25691283609547]
[null,"Default = the tariff that equates required revenue with expected revenue each year",null,null,null,null,null,null,null,null,112.45883341582945,104.02573194440336,88.447593736280282,75.501125622052854,67.265115013800212,53.739930303655562,37.729556314824308,22.70247741358305,4.5030023644985571,-13.796487035438323]
[null,"Applicable access charge  ","$/year",null,null,null,null,null,null,90,92.32337790290498,94.706734526695598,97.151618240646854,99.659617385666621,101.35230987188936,103.07375229643293,104.82443296946599,106.60484849497747,108.41550391164492,110.25691283609547]
[]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0516306200645551,2.1045941005932356,2.1589248497921525,2.2146581641259253,2.2522735527086528,2.2905278288096209,2.3294318437659114,2.3689966332217223,2.4092334202587766,2.4501536185799]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.564538275080694,2.6307426257415445,2.6986560622401905,2.7683227051574062,2.8153419408858156,2.8631597860120257,2.9117898047073885,2.9612457915271517,3.0115417753234697,3.0626920232248738]
[null,null,null,null,null,null,null,null,null,null,"ok",null,null,null,"ok"]
[null,null,null,null,null,null,null,null,null,null,"ok"]
[null,"   Expected revenue from access charges","$'000",null,null,null,null,null,null,18900,19678.728000004194,20489.802014850593,21334.495365646049,22213.132119091231,22928.93306231753,23667.795002306932,24430.382347863746,25218.442959971871,26031.64664422506,26870.712227284825]
[null,"   Expected revenue from Tier 1 sales","$'000",null,null,null,null,null,null,81600,84527.181546659674,87551.114584678595,91754.306116166481,95894.698506652567,99550.491029722456,103302.8050793139,107153.86481323192,111105.94209809878,115161.35748836953,119567.49658669913]
[null,"   Expected revenue from Tier 2 sales","$'000",null,null,null,null,null,null,21250,22055.02916569397,22887.460843951438,23748.173347713677,24914.904346416657,25901.145856149502,26913.701988513043,27953.182125190928,29020.208756966087,30115.417753234698,31239.458636893713]
[null,"Total expected revenue from tariffs",null,null,null,null,null,null,null,121750,126260.93871235783,130928.37744348063,136836.97482952621,143022.73497216046,148380.56994818948,153884.30207013385,159537.42928628658,165344.59381503673,171308.4218858293,177677.66745087766]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475752.73695499427,null,null,null,555807.22151899454]
[]
[null,"Revenue required from tariffs (ie, notional revenue requirement)",null,null,null,null,null,null,null,null,130552.81105493769,132944.5425348017,134925.5710483673,137638.04874296859,140669.02385544399,142556.26986415233,143900.29733315579,145496.64891202206,146357.99113934397,147444.61336818617]
[]
[null,"Difference between required and expected revenue",null,null,null,null,null,null,null,null,-4291.8723425798526,-2016.165091321076,1911.4037811589078,5384.686229191866,7711.5460927454988,11328.032205981523,15637.131953130796,19847.944903014664,24950.430746485334,30233.054082691495]
[null,"WACC (for NPV calculations)",null,6.2E-2]
[null,"NPV of difference between required and revenue expected from tariffs",null,null,null,null,null,null,null,null,1.6770160876560624E-8,null,null,null,45963.850929217777]
[]
[]
[]
[]
[null,"OUTPUT TABLES"]
[]
[null,"Table 4 - Regulatory asset base "]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"Opening value","$'000",null,null,660000,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,855286.72652442718,856342.89534595655,900272.42650514841,922664.77454745711,949512.31220015546,964508.42128142517,967853.10179126635,971141.80827513349,974365.44982393575]
[null,"Capex (net of cap cons)","$'000",null,null,33900,34800,17902,34681,64731,55179,25738.3,69127.600000000006,48586.9,53900,42900,31900,32400,32900,33400]
[null,"Disposals","$'000",null,null,1700,1000,1000,1300,1000,1200,1300,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Allowed depreciation","$'000",null,null,16717,17972.448780487808,18856.210122546112,19537.117190893929,20694.253730363755,22711.19351613284,23382.131178470503,24198.068840808166,25194.551957691281,26052.462347301673,26903.890918730245,27555.319490158818,28111.293516132842,28676.358451197775,29250.51429535362]
[null,"Indexation","$'000",null,null,8113.2000000000007,16811.908800000001,21740.599800585369,11290.688245463272,19825.553018803021,0,0,0,0,0,0,0,0,0,0]
[null,"Closing value","$'000",null,null,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,855286.72652442718,856342.89534595655,900272.42650514841,922664.77454745711,949512.31220015546,964508.42128142517,967853.10179126635,971141.80827513349,974365.44982393575,977514.93552858208]
[]
[null,"Value of working capital (net)","$'000",null,null,null,null,null,null,5161.868493150685,5890.7890410958898,8693.8899782358967,5930.0936574154202,8222.7689515854272,8566.3097910882716,10059.193555256241,11570.831762071299,12217.929638035333,12884.018415552473,13570.188999622791]
[null,"check = 0",null,null,null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[]
[null,"Table 5 - Notional revenue requirement and target revenue"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"  Operating expenditure","$'000",null,null,null,null,null,null,63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020]
[null,"  Depreciation (regulatory)","$'000",null,null,null,null,null,null,19995.381365565809,22153.308725028994,22807.765266842052,23603.659983749145,24575.665180741966,25412.501593850258,26243.015410165946,26878.442088420903,27420.758996237779,27971.943501239231,28531.995603425268]
[null,"  Return on RAB","$'000",null,null,null,null,null,null,36349.879471020715,42335.30326848093,43156.005869014298,44295.257945814868,45969.708642877551,47215.821689693068,48277.80234614676,48750.207375708007,48929.032738599446,49105.073549294968,49277.877560338165]
[null,"  Return on working capital","$'000",null,null,null,null,null,null,354.73916341348445,293.05037961146377,432.49685918957323,295.00567501460364,409.0598977333575,426.15009952568317,500.41691688294259,575.61671562839808,607.80803615848345,640.94410125003196,675.07918039430535]
[null,"  Tax allowance","$'000",null,null,null,null,null,null,3200,4094.8649090883928,4931.0327196744011,4988.8632583848939,4724.8200288209428,5766.0672964999376,5460.0469212756207,5488.0415378646176,6412.0655213685004,6346.7066500796245,6586.2146987046135]
[null,"     less adjustment for franking credits (gamma)","$'000",null,null,null,null,null,null,-800,-1023.7162272720982,-1232.7581799186003,-1247.2158145962235,-1181.2050072052357,-1441.5168241249844,-1365.0117303189052,-1372.0103844661544,-1603.0163803421251,-1586.6766625199061,-1646.5536746761534]
[null,"Total revenue requirement ","$'000",null,null,null,null,null,null,122750,131552.81105493769,133944.5425348017,135925.5710483673,138638.04874296859,141669.02385544399,143556.26986415233,144900.29733315579,146496.64891202206,147357.99113934397,148444.61336818617]
[null,"   less"]
[null,"   Profit/loss on asset sales","$'000",null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"   Other regulatory revenue","$'000",null,null,null,null,null,null,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Revenue required from tariffs (ie, notional revenue requirement)","$'000",null,null,null,null,null,null,121750,130552.81105493769,132944.5425348017,134925.5710483673,137638.04874296859,140669.02385544399,142556.26986415233,143900.29733315579,145496.64891202206,146357.99113934397,147444.61336818617]
[]
[]
[null,"Target revenue from tariffs","$'000",null,null,null,null,null,null,121750,126260.93871235783,130928.37744348063,136836.97482952621,143022.73497216046,148380.56994818948,153884.30207013385,159537.42928628658,165344.59381503673,171308.4218858293,177677.66745087766]
[null,"Implied real return on RAB (post-tax)","%",null,null,null,null,null,null,4.9024370024107637E-2,4.582971722008343E-2,4.8617378680282285E-2,5.3200722997444792E-2,5.6973912078107883E-2,5.9329598779721632E-2,6.2966775918315329E-2,6.7358776147628419E-2,7.1688027810842062E-2,7.6913248389565286E-2,8.2289613809549869E-2]
[]
[null,"NPV of required revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475752.73695497756]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475752.73695499427]
[null,"Difference",null,null,null,null,null,null,null,null,1.6705598682165146E-8]
[null,"check required revenue = 0",null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"Check NPVs = 0",null,null,null,null,null,null,null,null,0,0]
[]
[]
[]
[null,"Table 6 - Financial indicators"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,"Formula = (Adjusted FFO + Adjusted interest payments) / Adjusted interest payments",null,null,null,null,null,null,null,null,null,null,null,"This is a coverage ratio and measures a utility’s ability to service its debt prior to repayment."]
[null," - ratio (times)",null,null,null,null,null,null,null,2.62466234095402,2.764066818317346,2.8245678847030282,3.1333946462428566,3.1431962699909963,3.2612751773608339,3.3847188923351079,3.6169200445893326,4.0013825905158047,4.4738060676843165,5.0638905935245528]
[]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"Formula = Adjusted Debt / RAB",null,null,null,null,null,null,null,null,null,null,null,"This is a leverage ratio and measures a utility’s ability to repay its debt."]
[null," - ratio (%)",null,null,null,null,null,null,null,0.40598582370357855,0.39924277335691144,0.38417351291835805,0.39119660112782617,0.3869529936903936,0.38219915212721695,0.3696155407814688,0.34799270562062151,0.32382683367886272,0.29797008613858061,0.27028681007051075]
[]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,"Formula = Adjusted FFO /  Adjusted Debt",null,null,null,null,null,null,null,null,null,null,null,"This is a more dynamic measure of leverage than debt gearing and a useful indicator of a "]
[null," - ratio (%)",null,null,null,null,null,null,null,0.10227997484837624,0.1112121001835836,0.12186449351431702,0.12823609436229785,0.13604441489078309,0.14315970307313114,0.15621800620855689,0.17824701350522096,0.20684504213926397,0.24211754036534608,0.28733137169840506,null,"utility’s ability to generate cash flows."]
[]
[]
[null,"Financial Ratio Benchmarks (for water utilities)",null,null,null,null,null,null,null,null,null,"Credit Rating Range"]
[null,null,null,null,null,null,null,null,null,"A3","Baa1","Baa2","Baa3","Ba1"]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,">2.9","2.3 - 2.9","1.7 - 2.5","1.4 / 1.5 - 1.7","<1.4 / 1.5"]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"<60%","80-85%","60-91%","90-100%",">100%"]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,">10%",">10%","6-10%","5-8%","<4%"]
[null,null,null,null,null,null,null,null,null,"Source: Kanangra Ratings Advisory Services advice to IPART, see IPART, Financeability tests in price regulation Research — Final Decision December 2013, p18"]
[]
[]
[]
[]
[null,"Table 7 - Tariffs"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,92.32337790290498,94.706734526695598,97.151618240646854,99.659617385666621,101.35230987188936,103.07375229643293,104.82443296946599,106.60484849497747,108.41550391164492,110.25691283609547]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0516306200645551,2.1045941005932356,2.1589248497921525,2.2146581641259253,2.2522735527086528,2.2905278288096209,2.3294318437659114,2.3689966332217223,2.4092334202587766,2.4501536185799]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.564538275080694,2.6307426257415445,2.6986560622401905,2.7683227051574062,2.8153419408858156,2.8631597860120257,2.9117898047073885,2.9612457915271517,3.0115417753234697,3.0626920232248738]
[]
[null,"Nominal prices",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,94.631462350477591,99.50126296210955,104.62166688693158,110.00557034505415,114.67083578449116,119.53395212867905,124.60331010715268,129.88765629488631,135.39610820346959,141.13817001229069]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.1029213855661686,2.211139176935768,2.3249259308207018,2.4445682298900926,2.5482407952109152,2.6563100473039789,2.7689624468256158,2.8863923621085856,3.0088024045215471,3.1364037780509051]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.628651731957711,2.7639239711697101,2.9061574135258774,3.0557102873626154,3.1853009940136432,3.3203875591299732,3.4612030585320186,3.6079904526357307,3.7610030056519328,3.92050472256363]
[]
[]
[]
[null,"Table 8 - Annual bills"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,297.48643990936046,305.16614458601913,313.04410321986211,321.12543379825911,326.57966514275461,332.126535177395,337.76761734605714,343.50451181714971,349.33884593752259,355.27227469408547]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,2.5815310032277328E-2,2.581531003227755E-2,2.5815310032277772E-2,2.581531003227755E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324469E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,528.29488466662303,541.93298090275812,555.92314882147923,570.27447726242565,579.96043982247807,589.81091591847735,599.82869976972211,610.0166330545934,620.37760571663489,630.91455678432419]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,2.5815310032277772E-2,2.5815310032277328E-2,2.5815310032277772E-2,2.581531003227755E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1041.2025396827617,1068.081506051067,1095.6543612695173,1123.9390182939071,1143.0288279996412,1162.4428731208825,1182.1866607111999,1202.2657913600237,1222.685960781329,1243.4529614292992]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,2.581531003227755E-2,2.581531003227755E-2,2.581531003227755E-2,2.5815310032277772E-2,1.6984737957324025E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324247E-2,1.6984737957324469E-2,1.6984737957324247E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,207.48643990936046,215.16614458601913,223.04410321986211,231.12543379825911,236.57966514275461,242.126535177395,247.76761734605714,253.50451181714971,259.33884593752259,265.27227469408547]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,3.7432199546802325E-2,3.7013043744032137E-2,3.6613374511125896E-2,3.6231984893279057E-2,2.3598576992856168E-2,2.3446098088326206E-2,2.3298074969474891E-2,2.315433522969168E-2,2.301471511710651E-2,2.2879058997556712E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,438.29488466662303,451.93298090275812,465.92314882147923,480.27447726242565,489.96043982247807,499.81091591847735,509.82869976972211,520.0166330545934,530.37760571663489,540.91455678432419]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,3.1282081568524855E-2,3.1116256915725948E-2,3.0956288896586193E-2,3.0801921899023643E-2,2.0167556300852318E-2,2.0104635589698328E-2,2.0043147382716953E-2,1.9983051737716861E-2,1.9924310115199351E-2,1.9866885317399552E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,951.20253968276165,978.08150605106698,1005.6543612695173,1033.9390182939071,1053.0288279996412,1072.4428731208825,1092.1866607111999,1112.2657913600237,1132.685960781329,1153.4529614292992]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,2.8327069927309934E-2,2.8257879102456807E-2,2.8190754091418802E-2,2.8125624582072017E-2,1.8463187255699065E-2,1.843638522045099E-2,1.8410106575524665E-2,1.8384339757225199E-2,1.8359073505566093E-2,1.8334296854571441E-2]
[null,"nominal prices'",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,304.92360090709445,320.61518065568634,337.11425996900181,354.46239333406339,369.49491530558259,385.16495685907694,401.49955478971424,418.52689250574491,436.2763486556243,454.7785478173812]
[null," ---- percentage change","%",null,null,null,null,null,null,null,5.1460692783084294E-2,5.1460692783084516E-2,5.1460692783084738E-2,5.1460692783084294E-2,4.2409356406257093E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257537E-2,4.2409356406257093E-2,4.2409356406257093E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,541.50225678328854,569.36833806096024,598.66842718633075,629.4763191966988,656.17200476681057,683.99983718077453,713.00783005759592,743.24603324296072,774.76661916429828,807.623972848108]
[null," ---- percentage change","%",null,null,null,null,null,null,null,5.1460692783084516E-2,5.1460692783084516E-2,5.1460692783084516E-2,5.1460692783084294E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257315E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1067.2326031748305,1122.1531322949022,1179.899909891506,1240.618376669222,1293.2322035695393,1348.0773490067693,1405.2484417639998,1464.8441237701068,1526.9672202946849,1591.7249173608343]
[null," ---- percentage change","%",null,null,null,null,null,null,null,5.1460692783084294E-2,5.1460692783084738E-2,5.1460692783084294E-2,5.1460692783084516E-2,4.2409356406257093E-2,4.2409356406257315E-2,4.2409356406257315E-2,4.2409356406257093E-2,4.2409356406257315E-2,4.2409356406257315E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,212.67360090709445,226.05893065568634,240.19410371900179,255.11923317781341,267.6681761454264,280.79254921991679,294.51783695957516,308.87063172985233,323.87868136033444,339.57093883970913]
[null," ---- percentage change","%",null,null,null,null,null,null,null,6.3368004535472311E-2,6.2938369837633124E-2,6.2528708873903938E-2,6.2137784515610806E-2,4.9188541417677367E-2,4.9032250540534283E-2,4.888052684371158E-2,4.8733193610433823E-2,4.859008299503409E-2,4.8451035472495629E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,449.25225678328854,474.81208806096021,501.7482709363307,530.13315904044873,554.34526560665438,579.62742954161445,606.02611222745679,633.58977246706809,662.36895186900847,692.41636387043593]
[null," ---- percentage change","%",null,null,null,null,null,null,null,5.7064133607737766E-2,5.6894163338619075E-2,5.6730196119000764E-2,5.6571969946499268E-2,4.5671745208373693E-2,4.560725147944078E-2,4.5544226067284477E-2,4.5482628031159766E-2,4.5422417868079101E-2,4.536355745033438E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,974.98260317483061,1027.5968822949021,1082.979753641506,1141.2752165129721,1191.4054644093831,1243.7049413676091,1298.2667239338607,1355.1878629942144,1414.5695529993952,1476.5173083831621]
[null," ---- percentage change","%",null,null,null,null,null,null,null,5.4035246675492532E-2,5.3964326080018221E-2,5.3895522943704366E-2,5.3828765196623829E-2,4.3924766937091464E-2,4.3897294850961943E-2,4.3870359239912782E-2,4.3843948251155673E-2,4.3818050343205073E-2,4.3792654275935261E-2]

{"sheet":"Sc6","index":7,"n_rows":269,"n_cols":24,"rows_kept":269,"cut":false,"hidden":false,"merged":[]}
[null,"THE INDEPENDENT PRICING AND REGULATORY TRIBUNAL OF NSW",null,null,null,"IPART TEMPLATE FOR COST BUILDING BLOCKS, SIMPLE TARIFF SETTING AND FINANCIAL RATIO ANALYSIS"]
[]
[null,"4   SCENARIO INPUTS, TARIFFS AND OUTPUT TABLES"]
[]
[null,"On this worksheet enter your key decisions about costs and other inputs, then set the tariffs. The worksheet also contains the main output tables for easy reference."]
[null,"To use the Summary workbook, copy and past the values of this worksheet onto one of the worksheets S1 to S12. Copy and paste values for each scenario onto a different worksheet."]
[]
[]
[null,"List of tables",null,null,null,null,null,null,null,"row number"]
[null," DECISIONS"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,null,null,null,null,null,36]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT",null,null,null,null,null,null,null,76]
[null,"SETTING TARIFFS "]
[null,"TABLE 3 - SETTING TARIFFS",null,null,null,null,null,null,null,114]
[]
[null,"OUTPUT TABLES"]
[null,"Table 4 - Regulatory asset base ",null,null,null,null,null,null,null,150]
[null,"Table 5 - Notional revenue requirement and target revenue",null,null,null,null,null,null,null,167]
[null,"Table 6 - Financial indicators",null,null,null,null,null,null,null,195]
[null,"Table 7 - Tariffs",null,null,null,null,null,null,null,218]
[null,"Table 8 - Annual bills",null,null,null,null,null,null,null,234]
[]
[]
[]
[null,"Name of regulated business",null,"A  Regulated Business"]
[null,"Scenario number",null,6,null,null,null,null,null,null,"These are useful for keeping track of model runs. They are particularly useful if a Scenario Summary workbook is used."]
[null,"Scenario description",null,"5 + constant usage charges",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DATA FOR SELECTIONS - DO NOT DELETE"]
[]
[null,"Type of business with regard to tax (select option)",null,"1. Pays tax and can provide forecast tax depreciation",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"1. Pays tax and can provide forecast tax depreciation"]
[null,null,null,"ok",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2. Pays tax or tax equivalent and can provide tax value of assets but not forecast tax depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"3. Does not pay tax or tax equivalents and has a previously established regulatory tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"4. Does not pay tax or tax equivalents and does not have a previously established tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null," DECISIONS",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DO NOT DELETE"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"nominal","nominal $'000"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,"beware hidden columns",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2015-16 $","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Calculate forecast costs and prices in nominal or 2015-16 $?",null,null,null,null,null,null,null,"2015-16 $",null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency forecast"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast"]
[null,"Select forecast operating expenditure from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Checked - see X54",null,null,null,null,null,null,null,null,"Option 1 - Agency capex"]
[null,"Select capital expenditure",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator capex"]
[null,"  - historical capex up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,"new titles",null,null,null,null,null,null,null,null,2]
[null,"  - forecast capex from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency cap cons"]
[null,"Select cash capital contributions",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator cap cons"]
[null,"  - historical cash cap cons up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"  - forecast cash cap cons from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Allowed depreciation"]
[null,"Use allowed or actual depreciation to roll forward historical RAB?",null,null,null,null,null,null,null,"Allowed depreciation",null,null,"-",null,null,null,null,null,null,null,null,null,"Actual (calculated) depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Tax treatment of cash capital contributions (see comment)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance"]
[null,"  - historical period, up to and including 2015-16",null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance",null,null,null,"Checked - corrected spelling mistake",null,null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance"]
[null,"  - forecast period, from 2016-17",null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance",null,null,null,null,null,null,null,null,null,null,null,null,2,"Is this a trick? It is right but I needed to look at it a 2nd time"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Selected costs"]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[]
[null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,"Suggestion to move to Scenario sheet and use as sole source of data"]
[null,"Selected operating expenditure","$'000",null,null,"na","na","na","na",63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020,null,"moved"]
[]
[null,"Selected capital expenditure",null,null,null,null,null,null,"Option 2 - Regulator capex",null,"Option 2 - Regulator capex"]
[null," - depreciating assets","$'000",null,null,33900,32900,20900,34900,64900,53900,23900,69500,43900,53900,42900,31900,32400,32900,33400,null,"Historical capex needs to link to Scenario W43 (like cap cons)"]
[null," - non-depreciating assets","$'000",null,null,0,1900,0,0,190,2000,2000,0,4990,0,0,0,0,0,0,null,"corrected"]
[]
[null,"Selected cash capital contributions (before tax)",null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,"Option 2 - Regulator cap cons"]
[null," - depreciating assets","$'000",null,null,0,0,2990,210,340,1010,210,510,410,0,0,0,0,0,0]
[null," - non-depreciating assets","$'000",null,null,0,0,8,9,19,20,21,22,23,0,0,0,0,0,0]
[]
[]
[]
[]
[]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Pre-tax WACC"]
[null,"Pre- or post-tax WACC for forecast period?",null,null,null,null,null,null,null,"Post-tax WACC",null,null,null,null,null,null,null,null,null,null,null,null,"Post-tax WACC"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Use actual or notional cost of debt?",null,null,null,null,null,null,null,"Expected actual cost of debt",null,null,null,null,null,null,null,null,null,null,null,null,"Expected actual cost of debt"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Notional cost of debt (WACC risk free rate + debt margin)"]
[null,"Selected options",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[]
[null,"WACC"]
[null,"Cost of Debt (nominal pre-tax)",null,7.1500000000000008E-2]
[null,"Real pre-tax WACC",null,6.1954320696962384E-2]
[null,"Real post-tax WACC",null,5.1386861313868423E-2]
[]
[null,"WACC used for forecast return on assets",null,5.0999999999999997E-2,"Real post-tax WACC (rounded)"]
[null,"Pre-tax WACC for NPV calculations",null,6.2E-2,"rounded"]
[]
[null,"Nominal cost of debt used for financial ratios = Expected actual cost of debt",null,null,null,"na","na","na","na",6.3E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2]
[]
[]
[]
[null,"Spare rows for additional inputs  or outputs"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"SETTING TARIFFS "]
[]
[null,"TABLE 3 - SETTING TARIFFS"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,null,"real 2015-16 prices"]
[null,null,null,null,null,null,null,null,null,null,"Next determination period",null,null,null,"Subsequent determinations"]
[null,"This model uses a very simple tariff structure. Most models will require more tariffs and a more complicated tariff structure.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the first 4 year period"]
[null,"Instructions:",null,null,null,null,null,null,null,null,0.2]
[null,"Step 1. Enter the usage charges",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the second 4 year period"]
[null,"Step 2. The model calculates the default access charges such that required revenue from tariffs = expected revenue from tariffs"]
[null,"Step 3. If you wish to change the access charges, enter alternative charges in the light blue cells. You can use Goal seek or Solver to set the tariffs, eg for NPV neutrality or a glide-path approach.",null,null,null,null,null,null,null,null,null,null,null,"This option gives an average increase for a Weighted Average Price Cap (WAPC)",null,null,null,null,null,null,null,"This macro keeps usage charges unchanged in real terms"]
[null,"Step 4. If you use Goal seek or Solver, consider developing a macro to automate the calculations. Remember to describe what the macros do. Two examples of a tariff-setting macro are provided."]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,1.6984737957324258E-2]
[null,"Access charge","$/year",null,null,null,null,null,null,90]
[null,"Default = the tariff that equates required revenue with expected revenue each year",null,null,null,null,null,null,null,null,125.04251022724694,129.52122669864968,127.22497889346035,127.98214530784713,129.22513134958893,125.45450627802495,119.40156434461129,114.54365777730149,106.74589072795402,99.235404456533601]
[null,"Applicable access charge  ","$/year",null,null,null,null,null,null,90,125.04251022724694,129.52122669864968,127.22497889346035,127.98214530784713,129.22513134958893,125.45450627802495,119.40156434461129,114.54365777730149,106.74589072795402,99.235404456533601]
[]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2,2,2,2,2,2,2,2,2,2]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.5,2.5,2.5,2.5,2.5,2.5,2.5,2.5,2.5,2.5]
[null,null,null,null,null,null,null,null,null,null,"ok",null,null,null,"ok"]
[null,null,null,null,null,null,null,null,null,null,"ok"]
[null,"   Expected revenue from access charges","$'000",null,null,null,null,null,null,18900,26652.811054937683,28021.917396252858,27938.605365003892,28525.940367666048,29234.601465217504,28806.86373156009,27827.728586155106,27096.44768379844,25630.755822689043,24184.660420101802]
[null,"   Expected revenue from Tier 1 sales","$'000",null,null,null,null,null,null,81600,82400,83200,85000,86600,88400,90200,92000,93800,95600,97600]
[null,"   Expected revenue from Tier 2 sales","$'000",null,null,null,null,null,null,21250,21500,21750,22000,22500,23000,23500,24000,24500,25000,25500]
[null,"Total expected revenue from tariffs",null,null,null,null,null,null,null,121750,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475779.15477072983,null,null,null,508217.75749042735]
[]
[null,"Revenue required from tariffs (ie, notional revenue requirement)",null,null,null,null,null,null,null,null,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[]
[null,"Difference between required and expected revenue",null,null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0]
[null,"WACC (for NPV calculations)",null,6.2E-2]
[null,"NPV of difference between required and revenue expected from tariffs",null,null,null,null,null,null,null,null,0,null,null,null,0]
[]
[]
[]
[]
[null,"OUTPUT TABLES"]
[]
[null,"Table 4 - Regulatory asset base "]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"Opening value","$'000",null,null,660000,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,855286.72652442718,856342.89534595655,900272.42650514841,922664.77454745711,949512.31220015546,964508.42128142517,967853.10179126635,971141.80827513349,974365.44982393575]
[null,"Capex (net of cap cons)","$'000",null,null,33900,34800,17902,34681,64731,55179,25738.3,69127.600000000006,48586.9,53900,42900,31900,32400,32900,33400]
[null,"Disposals","$'000",null,null,1700,1000,1000,1300,1000,1200,1300,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Allowed depreciation","$'000",null,null,16717,17972.448780487808,18856.210122546112,19537.117190893929,20694.253730363755,22711.19351613284,23382.131178470503,24198.068840808166,25194.551957691281,26052.462347301673,26903.890918730245,27555.319490158818,28111.293516132842,28676.358451197775,29250.51429535362]
[null,"Indexation","$'000",null,null,8113.2000000000007,16811.908800000001,21740.599800585369,11290.688245463272,19825.553018803021,0,0,0,0,0,0,0,0,0,0]
[null,"Closing value","$'000",null,null,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,855286.72652442718,856342.89534595655,900272.42650514841,922664.77454745711,949512.31220015546,964508.42128142517,967853.10179126635,971141.80827513349,974365.44982393575,977514.93552858208]
[]
[null,"Value of working capital (net)","$'000",null,null,null,null,null,null,5161.868493150685,5890.7890410958898,9223.0249245813575,6182.0369392640514,7988.723401164867,7900.9515521780013,9104.2111395473639,10168.13388471289,10281.11722295063,10424.657933618982,10478.421950742482]
[null,"check = 0",null,null,null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[]
[null,"Table 5 - Notional revenue requirement and target revenue"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"  Operating expenditure","$'000",null,null,null,null,null,null,63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020]
[null,"  Depreciation (regulatory)","$'000",null,null,null,null,null,null,19995.381365565809,22153.308725028994,22807.765266842052,23603.659983749145,24575.665180741966,25412.501593850258,26243.015410165946,26878.442088420903,27420.758996237779,27971.943501239231,28531.995603425268]
[null,"  Return on RAB","$'000",null,null,null,null,null,null,36349.879471020715,42335.30326848093,43156.005869014298,44295.257945814868,45969.708642877551,47215.821689693068,48277.80234614676,48750.207375708007,48929.032738599446,49105.073549294968,49277.877560338165]
[null,"  Return on working capital","$'000",null,null,null,null,null,null,354.73916341348445,293.05037961146377,458.81985188383914,307.5391529360204,397.41678219847159,393.05037669907927,452.9091963563057,505.83639544168085,511.45700244854464,518.59775379061523,521.27236418958944]
[null,"  Tax allowance","$'000",null,null,null,null,null,null,3200,4094.8649090883928,4932.4352113502819,4989.5310433384866,4724.1996824641028,5764.3037399667628,5457.5157051881188,5484.3236354460223,6406.9319286835425,6340.1880244856311,6578.0198561983852]
[null,"     less adjustment for franking credits (gamma)","$'000",null,null,null,null,null,null,-800,-1023.7162272720982,-1233.1088028375705,-1247.3827608346216,-1181.0499206160257,-1441.0759349916907,-1364.3789262970297,-1371.0809088615056,-1601.7329821708856,-1585.0470061214078,-1644.5049640495963]
[null,"Total revenue requirement ","$'000",null,null,null,null,null,null,122750,131552.81105493769,133971.91739625286,135938.6053650039,138625.94036766604,141634.60146521751,143506.86373156009,144827.72858615511,146396.44768379844,147230.75582268904,148284.66042010181]
[null,"   less"]
[null,"   Profit/loss on asset sales","$'000",null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"   Other regulatory revenue","$'000",null,null,null,null,null,null,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Revenue required from tariffs (ie, notional revenue requirement)","$'000",null,null,null,null,null,null,121750,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[]
[]
[null,"Target revenue from tariffs","$'000",null,null,null,null,null,null,121750,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[null,"Implied real return on RAB (post-tax)","%",null,null,null,null,null,null,4.9024370024107637E-2,5.0999999999999997E-2,5.0999999999999955E-2,5.0999999999999976E-2,5.0999999999999997E-2,5.1000000000000031E-2,5.0999999999999969E-2,5.0999999999999983E-2,5.1000000000000011E-2,5.1000000000000004E-2,5.0999999999999997E-2]
[]
[null,"NPV of required revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475779.15477072983]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475779.15477072983]
[null,"Difference",null,null,null,null,null,null,null,null,0]
[null,"check required revenue = 0",null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"Check NPVs = 0",null,null,null,null,null,null,null,null,0,0]
[]
[]
[]
[null,"Table 6 - Financial indicators"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,"Formula = (Adjusted FFO + Adjusted interest payments) / Adjusted interest payments",null,null,null,null,null,null,null,null,null,null,null,"This is a coverage ratio and measures a utility’s ability to service its debt prior to repayment."]
[null," - ratio (times)",null,null,null,null,null,null,null,2.62466234095402,2.9036261974690403,2.9011190002163727,3.0848991879245578,2.986291059719175,3.0242864811060697,3.0256299370548794,3.0899965816242112,3.2595715549477928,3.4320550630321107,3.630441011883736]
[]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"Formula = Adjusted Debt / RAB",null,null,null,null,null,null,null,null,null,null,null,"This is a leverage ratio and measures a utility’s ability to repay its debt."]
[null," - ratio (%)",null,null,null,null,null,null,null,0.40598582370357855,0.39748645553586071,0.38220528864376441,0.3897723575734609,0.3870930270098204,0.38472995887186456,0.37591390855171564,0.35945204341204789,0.34183030247940949,0.3243040532953661,0.30666119689619259]
[]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,"Formula = Adjusted FFO /  Adjusted Debt",null,null,null,null,null,null,null,null,null,null,null,"This is a more dynamic measure of leverage than debt gearing and a useful indicator of a "]
[null," - ratio (%)",null,null,null,null,null,null,null,0.10227997484837624,0.12054061788256151,0.12706947592765153,0.1251341860313866,0.12557971873667495,0.12735919178648325,0.1313360144782463,0.14016809772681357,0.15238137507894725,0.16440988509806889,0.17841927397857493,null,"utility’s ability to generate cash flows."]
[]
[]
[null,"Financial Ratio Benchmarks (for water utilities)",null,null,null,null,null,null,null,null,null,"Credit Rating Range"]
[null,null,null,null,null,null,null,null,null,"A3","Baa1","Baa2","Baa3","Ba1"]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,">2.9","2.3 - 2.9","1.7 - 2.5","1.4 / 1.5 - 1.7","<1.4 / 1.5"]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"<60%","80-85%","60-91%","90-100%",">100%"]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,">10%",">10%","6-10%","5-8%","<4%"]
[null,null,null,null,null,null,null,null,null,"Source: Kanangra Ratings Advisory Services advice to IPART, see IPART, Financeability tests in price regulation Research — Final Decision December 2013, p18"]
[]
[]
[]
[]
[null,"Table 7 - Tariffs"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,125.04251022724694,129.52122669864968,127.22497889346035,127.98214530784713,129.22513134958893,125.45450627802495,119.40156434461129,114.54365777730149,106.74589072795402,99.235404456533601]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2,2,2,2,2,2,2,2,2,2]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.5,2.5,2.5,2.5,2.5,2.5,2.5,2.5,2.5,2.5]
[]
[null,"Nominal prices",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,128.16857298292811,136.07823880026882,137.00738703619029,141.26834176064349,146.20637492079464,145.48876521577324,141.93093850213782,139.56032452724853,133.3109901242216,127.02970748188291]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.0499999999999998,2.1012499999999998,2.1537812499999998,2.2076257812499995,2.2628164257812493,2.3193868364257804,2.3773715073364245,2.436805795019835,2.4977259398953304,2.5601690883927133]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.5625,2.6265624999999999,2.6922265624999997,2.7595322265624995,2.8285205322265616,2.8992335455322253,2.9717143841705305,3.0460072437747936,3.122157424869163,3.2002113604908917]
[]
[]
[]
[null,"Table 8 - Annual bills"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,325.04251022724691,329.52122669864968,327.22497889346033,327.98214530784713,329.22513134958893,325.45450627802495,319.4015643446113,314.54365777730152,306.74589072795402,299.23540445653362]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,0.12083624216292033,1.3778863780837591E-2,-6.9684366867488468E-3,2.3139016371771515E-3,3.7897978884646744E-3,-1.1453029287609717E-2,-1.8598427173851517E-2,-1.5209401297948677E-2,-2.4790730496522584E-2,-2.4484390821330582E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,550.04251022724691,554.52122669864968,552.22497889346039,552.98214530784708,554.22513134958899,550.45450627802495,544.4015643446113,539.54365777730152,531.74589072795402,524.23540445653362]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,6.8043709179120171E-2,8.142491513160266E-3,-4.1409556471986297E-3,1.3711194591448095E-3,2.247786935417162E-3,-6.8034177056933709E-3,-1.0996261933327589E-2,-8.9233883322104024E-3,-1.4452522862507755E-2,-1.4124201808383807E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1050.042510227247,1054.5212266986496,1052.2249788934603,1052.9821453078471,1054.225131349589,1050.4545062780248,1044.4015643446112,1039.5436577773014,1031.745890727954,1024.2354044565336]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,3.4524640617977331E-2,4.2652715749891268E-3,-2.1775263949670443E-3,7.1958604820721028E-4,1.1804436070266267E-3,-3.5766791735813985E-3,-5.7622123540223003E-3,-4.6513781031707335E-3,-7.5011443636914255E-3,-7.2793953810867951E-3]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,235.04251022724691,239.52122669864968,237.22497889346033,237.98214530784713,239.22513134958893,235.45450627802495,229.4015643446113,224.54365777730152,216.74589072795402,209.23540445653362]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,0.17521255113623457,1.9054921031402383E-2,-9.5868238353602475E-3,3.1917651248980494E-3,5.2230222571274521E-3,-1.5761826737400009E-2,-2.570747967026088E-2,-2.1176431735278611E-2,-3.4727175670582477E-2,-3.4651112628691583E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,460.04251022724691,464.52122669864968,462.22497889346039,462.98214530784708,464.22513134958899,460.45450627802495,454.4015643446113,449.54365777730152,441.74589072795402,434.23540445653362]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,8.2452965240580989E-2,9.7354404687306495E-3,-4.9432569992736708E-3,1.6380906462460931E-3,2.6847386110655513E-3,-8.1224061709070927E-3,-1.3145580835642545E-2,-1.0690778704330328E-2,-1.7345961653429498E-2,-1.7001824870501614E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,960.04251022724702,964.52122669864957,962.22497889346027,962.98214530784708,964.22513134958899,960.45450627802484,954.40156434461119,949.54365777730141,941.74589072795402,934.23540445653362]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,3.7883794840267049E-2,4.6651230791252551E-3,-2.3807125666366336E-3,7.8689124788411391E-4,1.2907674849407247E-3,-3.9105235374715663E-3,-6.3021641252641869E-3,-5.0900027292449801E-3,-8.2121206176032358E-3,-7.9750666770788126E-3]
[null,"nominal prices'",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,333.16857298292803,346.20323880026882,352.38551203619028,362.03091988564347,372.48801749891959,377.42744885835128,379.66808923578026,383.24090402923207,383.08358411375463,383.04661632115426]
[null," ---- percentage change","%",null,null,null,null,null,null,null,0.14885714821699314,3.9123335375358836E-2,1.7857352396082327E-2,2.7371749178106475E-2,2.8884542835676097E-2,1.3260644980199965E-2,5.9366121468020783E-3,9.4103636696025728E-3,-4.1049875893583998E-4,-9.6500591864057128E-5]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,563.79357298292803,582.59386380026876,594.68590266119031,610.38882027626835,627.05486539931019,638.35846795625162,647.12238381112809,657.38155596896354,664.07775235197926,671.06563876533448]
[null," ---- percentage change","%",null,null,null,null,null,null,null,9.4744801908598131E-2,3.3346053800989317E-2,2.0755520461621435E-2,2.6405397445623313E-2,2.7303981608802319E-2,1.8026496851664353E-2,1.3728831518339035E-2,1.5853526959484388E-2,1.0186164065929315E-2,1.0522693146406636E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1076.293572982928,1107.9063638002685,1133.1312151611901,1162.2952655887682,1192.7589718446225,1218.2051770626965,1241.4652606452341,1266.5830047239222,1288.5092373258119,1311.1079108635129]
[null," ---- percentage change","%",null,null,null,null,null,null,null,6.0387756633426548E-2,2.9371903364363794E-2,2.276803544515893E-2,2.5737575699412263E-2,2.6209954697202331E-2,2.1333903847079005E-2,1.9093732337126967E-2,2.0232337444249904E-2,1.731132702721605E-2,1.7538619734385863E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,240.91857298292805,251.64698880026882,255.46535578619029,262.68775972939346,270.66127833876334,273.05504121919114,272.68637140564118,273.58464325333949,270.68591681846476,267.83900734348214]
[null," ---- percentage change","%",null,null,null,null,null,null,null,0.20459286491464024,4.4531294057187587E-2,1.517350556875563E-2,2.8271559253020273E-2,3.03535978135554E-2,8.8441275941648634E-3,-1.3501666620174824E-3,3.2941574713394317E-3,-1.0595355062347211E-2,-1.0517390444409025E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,471.54357298292803,488.03761380026879,497.76574641119032,511.04566012001834,525.22812623915399,533.98606031709141,540.14066598098896,547.72529519307091,551.68008505668945,555.85802978766242]
[null," ---- percentage change","%",null,null,null,null,null,null,null,0.10951428937159546,3.4978826480448921E-2,1.993316157574454E-2,2.6679042912402195E-2,2.7751857076342201E-2,1.6674533674819969E-2,1.1525779643466461E-2,1.4041951828061228E-2,7.2203893052347201E-3,7.5731295077356986E-3]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,984.04357298292814,1013.3501138002687,1036.2110589111901,1062.9521054325182,1090.9322326844663,1113.8327694235363,1134.483542815095,1156.9267439480295,1176.111570030522,1195.9003018858407]
[null," ---- percentage change","%",null,null,null,null,null,null,null,6.3830889711273597E-2,2.9781751156103597E-2,2.2559769619197256E-2,2.5806563529081172E-2,2.6323036672064148E-2,2.0991713374091558E-2,1.8540281771604272E-2,1.978274720252382E-2,1.6582576366956481E-2,1.6825556655994056E-2]

{"sheet":"Sc7","index":8,"n_rows":269,"n_cols":24,"rows_kept":269,"cut":false,"hidden":false,"merged":[]}
[null,"THE INDEPENDENT PRICING AND REGULATORY TRIBUNAL OF NSW",null,null,null,"IPART TEMPLATE FOR COST BUILDING BLOCKS, SIMPLE TARIFF SETTING AND FINANCIAL RATIO ANALYSIS"]
[]
[null,"4   SCENARIO INPUTS, TARIFFS AND OUTPUT TABLES"]
[]
[null,"On this worksheet enter your key decisions about costs and other inputs, then set the tariffs. The worksheet also contains the main output tables for easy reference."]
[null,"To use the Summary workbook, copy and past the values of this worksheet onto one of the worksheets S1 to S12. Copy and paste values for each scenario onto a different worksheet."]
[]
[]
[null,"List of tables",null,null,null,null,null,null,null,"row number"]
[null," DECISIONS"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,null,null,null,null,null,36]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT",null,null,null,null,null,null,null,76]
[null,"SETTING TARIFFS "]
[null,"TABLE 3 - SETTING TARIFFS",null,null,null,null,null,null,null,114]
[]
[null,"OUTPUT TABLES"]
[null,"Table 4 - Regulatory asset base ",null,null,null,null,null,null,null,150]
[null,"Table 5 - Notional revenue requirement and target revenue",null,null,null,null,null,null,null,167]
[null,"Table 6 - Financial indicators",null,null,null,null,null,null,null,195]
[null,"Table 7 - Tariffs",null,null,null,null,null,null,null,218]
[null,"Table 8 - Annual bills",null,null,null,null,null,null,null,234]
[]
[]
[]
[null,"Name of regulated business",null,"A  Regulated Business"]
[null,"Scenario number",null,7,null,null,null,null,null,null,"These are useful for keeping track of model runs. They are particularly useful if a Scenario Summary workbook is used."]
[null,"Scenario description",null,"5 + higher usage charges",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DATA FOR SELECTIONS - DO NOT DELETE"]
[]
[null,"Type of business with regard to tax (select option)",null,"1. Pays tax and can provide forecast tax depreciation",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"1. Pays tax and can provide forecast tax depreciation"]
[null,null,null,"ok",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2. Pays tax or tax equivalent and can provide tax value of assets but not forecast tax depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"3. Does not pay tax or tax equivalents and has a previously established regulatory tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"4. Does not pay tax or tax equivalents and does not have a previously established tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null," DECISIONS",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DO NOT DELETE"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"nominal","nominal $'000"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,"beware hidden columns",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2015-16 $","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Calculate forecast costs and prices in nominal or 2015-16 $?",null,null,null,null,null,null,null,"2015-16 $",null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency forecast"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast"]
[null,"Select forecast operating expenditure from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Checked - see X54",null,null,null,null,null,null,null,null,"Option 1 - Agency capex"]
[null,"Select capital expenditure",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator capex"]
[null,"  - historical capex up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,"new titles",null,null,null,null,null,null,null,null,2]
[null,"  - forecast capex from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency cap cons"]
[null,"Select cash capital contributions",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator cap cons"]
[null,"  - historical cash cap cons up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"  - forecast cash cap cons from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Allowed depreciation"]
[null,"Use allowed or actual depreciation to roll forward historical RAB?",null,null,null,null,null,null,null,"Allowed depreciation",null,null,"-",null,null,null,null,null,null,null,null,null,"Actual (calculated) depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Tax treatment of cash capital contributions (see comment)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance"]
[null,"  - historical period, up to and including 2015-16",null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance",null,null,null,"Checked - corrected spelling mistake",null,null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance"]
[null,"  - forecast period, from 2016-17",null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance",null,null,null,null,null,null,null,null,null,null,null,null,2,"Is this a trick? It is right but I needed to look at it a 2nd time"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Selected costs"]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[]
[null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,"Suggestion to move to Scenario sheet and use as sole source of data"]
[null,"Selected operating expenditure","$'000",null,null,"na","na","na","na",63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020,null,"moved"]
[]
[null,"Selected capital expenditure",null,null,null,null,null,null,"Option 2 - Regulator capex",null,"Option 2 - Regulator capex"]
[null," - depreciating assets","$'000",null,null,33900,32900,20900,34900,64900,53900,23900,69500,43900,53900,42900,31900,32400,32900,33400,null,"Historical capex needs to link to Scenario W43 (like cap cons)"]
[null," - non-depreciating assets","$'000",null,null,0,1900,0,0,190,2000,2000,0,4990,0,0,0,0,0,0,null,"corrected"]
[]
[null,"Selected cash capital contributions (before tax)",null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,"Option 2 - Regulator cap cons"]
[null," - depreciating assets","$'000",null,null,0,0,2990,210,340,1010,210,510,410,0,0,0,0,0,0]
[null," - non-depreciating assets","$'000",null,null,0,0,8,9,19,20,21,22,23,0,0,0,0,0,0]
[]
[]
[]
[]
[]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Pre-tax WACC"]
[null,"Pre- or post-tax WACC for forecast period?",null,null,null,null,null,null,null,"Post-tax WACC",null,null,null,null,null,null,null,null,null,null,null,null,"Post-tax WACC"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Use actual or notional cost of debt?",null,null,null,null,null,null,null,"Expected actual cost of debt",null,null,null,null,null,null,null,null,null,null,null,null,"Expected actual cost of debt"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Notional cost of debt (WACC risk free rate + debt margin)"]
[null,"Selected options",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[]
[null,"WACC"]
[null,"Cost of Debt (nominal pre-tax)",null,7.1500000000000008E-2]
[null,"Real pre-tax WACC",null,6.1954320696962384E-2]
[null,"Real post-tax WACC",null,5.1386861313868423E-2]
[]
[null,"WACC used for forecast return on assets",null,5.0999999999999997E-2,"Real post-tax WACC (rounded)"]
[null,"Pre-tax WACC for NPV calculations",null,6.2E-2,"rounded"]
[]
[null,"Nominal cost of debt used for financial ratios = Expected actual cost of debt",null,null,null,"na","na","na","na",6.3E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2]
[]
[]
[]
[null,"Spare rows for additional inputs  or outputs"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"SETTING TARIFFS "]
[]
[null,"TABLE 3 - SETTING TARIFFS"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,null,"real 2015-16 prices"]
[null,null,null,null,null,null,null,null,null,null,"Next determination period",null,null,null,"Subsequent determinations"]
[null,"This model uses a very simple tariff structure. Most models will require more tariffs and a more complicated tariff structure.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the first 4 year period"]
[null,"Instructions:",null,null,null,null,null,null,null,null,0.2]
[null,"Step 1. Enter the usage charges",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the second 4 year period"]
[null,"Step 2. The model calculates the default access charges such that required revenue from tariffs = expected revenue from tariffs"]
[null,"Step 3. If you wish to change the access charges, enter alternative charges in the light blue cells. You can use Goal seek or Solver to set the tariffs, eg for NPV neutrality or a glide-path approach.",null,null,null,null,null,null,null,null,null,null,null,"This option gives an average increase for a Weighted Average Price Cap (WAPC)",null,null,null,null,null,null,null,"This macro keeps usage charges unchanged in real terms"]
[null,"Step 4. If you use Goal seek or Solver, consider developing a macro to automate the calculations. Remember to describe what the macros do. Two examples of a tariff-setting macro are provided."]
[null,null,null,null,null,null,null,null,null,null,7.0000000000000007E-2,null,null,null,1.6984737957324258E-2]
[null,"Access charge","$/year",null,null,null,null,null,null,90]
[null,"Default = the tariff that equates required revenue with expected revenue each year",null,null,null,null,null,null,null,null,90.920999554012127,95.564674815127603,93.117510769598809,93.718607239741772,94.75578599309334,90.792891436112242,84.560750820196972,79.537739617003893,71.587005217146483,63.877807312386878]
[null,"Applicable access charge  ","$/year",null,null,null,null,null,null,90,90.920999554012127,95.564674815127603,93.117510769598809,93.718607239741772,94.75578599309334,90.792891436112242,84.560750820196972,79.537739617003893,71.587005217146483,63.877807312386878]
[]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003]
[null,null,null,null,null,null,null,null,null,null,"ok",null,null,null,"ok"]
[null,null,null,null,null,null,null,null,null,null,"ok"]
[null,"   Expected revenue from access charges","$'000",null,null,null,null,null,null,18900,19379.811054937683,20675.417396252855,20448.605365003899,20888.940367666044,21436.601465217504,20847.863731560094,19707.728586155106,18815.44768379844,17188.755822689043,15567.660420101807]
[null,"   Expected revenue from Tier 1 sales","$'000",null,null,null,null,null,null,81600,88168,89024,90950,92662,94588,96514,98440,100366,102292,104432]
[null,"   Expected revenue from Tier 2 sales","$'000",null,null,null,null,null,null,21250,23005.000000000004,23272.500000000004,23540.000000000004,24075.000000000004,24610.000000000004,25145.000000000004,25680.000000000004,26215.000000000004,26750.000000000004,27285.000000000004]
[null,"Total expected revenue from tariffs",null,null,null,null,null,null,null,121750,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475779.15477072983,null,null,null,508217.75749042735]
[]
[null,"Revenue required from tariffs (ie, notional revenue requirement)",null,null,null,null,null,null,null,null,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[]
[null,"Difference between required and expected revenue",null,null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0]
[null,"WACC (for NPV calculations)",null,6.2E-2]
[null,"NPV of difference between required and revenue expected from tariffs",null,null,null,null,null,null,null,null,0,null,null,null,0]
[]
[]
[]
[]
[null,"OUTPUT TABLES"]
[]
[null,"Table 4 - Regulatory asset base "]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"Opening value","$'000",null,null,660000,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,855286.72652442718,856342.89534595655,900272.42650514841,922664.77454745711,949512.31220015546,964508.42128142517,967853.10179126635,971141.80827513349,974365.44982393575]
[null,"Capex (net of cap cons)","$'000",null,null,33900,34800,17902,34681,64731,55179,25738.3,69127.600000000006,48586.9,53900,42900,31900,32400,32900,33400]
[null,"Disposals","$'000",null,null,1700,1000,1000,1300,1000,1200,1300,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Allowed depreciation","$'000",null,null,16717,17972.448780487808,18856.210122546112,19537.117190893929,20694.253730363755,22711.19351613284,23382.131178470503,24198.068840808166,25194.551957691281,26052.462347301673,26903.890918730245,27555.319490158818,28111.293516132842,28676.358451197775,29250.51429535362]
[null,"Indexation","$'000",null,null,8113.2000000000007,16811.908800000001,21740.599800585369,11290.688245463272,19825.553018803021,0,0,0,0,0,0,0,0,0,0]
[null,"Closing value","$'000",null,null,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,855286.72652442718,856342.89534595655,900272.42650514841,922664.77454745711,949512.31220015546,964508.42128142517,967853.10179126635,971141.80827513349,974365.44982393575,977514.93552858208]
[]
[null,"Value of working capital (net)","$'000",null,null,null,null,null,null,5161.868493150685,5890.7890410958898,9223.0249245813575,6182.0369392640514,7988.723401164867,7900.9515521780013,9104.2111395473639,10168.13388471289,10281.11722295063,10424.657933618982,10478.421950742482]
[null,"check = 0",null,null,null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[]
[null,"Table 5 - Notional revenue requirement and target revenue"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"  Operating expenditure","$'000",null,null,null,null,null,null,63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020]
[null,"  Depreciation (regulatory)","$'000",null,null,null,null,null,null,19995.381365565809,22153.308725028994,22807.765266842052,23603.659983749145,24575.665180741966,25412.501593850258,26243.015410165946,26878.442088420903,27420.758996237779,27971.943501239231,28531.995603425268]
[null,"  Return on RAB","$'000",null,null,null,null,null,null,36349.879471020715,42335.30326848093,43156.005869014298,44295.257945814868,45969.708642877551,47215.821689693068,48277.80234614676,48750.207375708007,48929.032738599446,49105.073549294968,49277.877560338165]
[null,"  Return on working capital","$'000",null,null,null,null,null,null,354.73916341348445,293.05037961146377,458.81985188383914,307.5391529360204,397.41678219847159,393.05037669907927,452.9091963563057,505.83639544168085,511.45700244854464,518.59775379061523,521.27236418958944]
[null,"  Tax allowance","$'000",null,null,null,null,null,null,3200,4094.8649090883928,4932.4352113502819,4989.5310433384866,4724.1996824641028,5764.3037399667628,5457.5157051881188,5484.3236354460223,6406.9319286835425,6340.1880244856311,6578.0198561983852]
[null,"     less adjustment for franking credits (gamma)","$'000",null,null,null,null,null,null,-800,-1023.7162272720982,-1233.1088028375705,-1247.3827608346216,-1181.0499206160257,-1441.0759349916907,-1364.3789262970297,-1371.0809088615056,-1601.7329821708856,-1585.0470061214078,-1644.5049640495963]
[null,"Total revenue requirement ","$'000",null,null,null,null,null,null,122750,131552.81105493769,133971.91739625286,135938.6053650039,138625.94036766604,141634.60146521751,143506.86373156009,144827.72858615511,146396.44768379844,147230.75582268904,148284.66042010181]
[null,"   less"]
[null,"   Profit/loss on asset sales","$'000",null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"   Other regulatory revenue","$'000",null,null,null,null,null,null,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Revenue required from tariffs (ie, notional revenue requirement)","$'000",null,null,null,null,null,null,121750,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[]
[]
[null,"Target revenue from tariffs","$'000",null,null,null,null,null,null,121750,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[null,"Implied real return on RAB (post-tax)","%",null,null,null,null,null,null,4.9024370024107637E-2,5.0999999999999997E-2,5.0999999999999955E-2,5.0999999999999976E-2,5.0999999999999997E-2,5.1000000000000031E-2,5.0999999999999969E-2,5.0999999999999983E-2,5.1000000000000011E-2,5.1000000000000004E-2,5.0999999999999997E-2]
[]
[null,"NPV of required revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475779.15477072983]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475779.15477072983]
[null,"Difference",null,null,null,null,null,null,null,null,0]
[null,"check required revenue = 0",null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"Check NPVs = 0",null,null,null,null,null,null,null,null,0,0]
[]
[]
[]
[null,"Table 6 - Financial indicators"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,"Formula = (Adjusted FFO + Adjusted interest payments) / Adjusted interest payments",null,null,null,null,null,null,null,null,null,null,null,"This is a coverage ratio and measures a utility’s ability to service its debt prior to repayment."]
[null," - ratio (times)",null,null,null,null,null,null,null,2.62466234095402,2.9036261974690403,2.9011190002163727,3.0848991879245578,2.986291059719175,3.0242864811060697,3.0256299370548794,3.0899965816242112,3.2595715549477928,3.4320550630321107,3.630441011883736]
[]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"Formula = Adjusted Debt / RAB",null,null,null,null,null,null,null,null,null,null,null,"This is a leverage ratio and measures a utility’s ability to repay its debt."]
[null," - ratio (%)",null,null,null,null,null,null,null,0.40598582370357855,0.39748645553586071,0.38220528864376441,0.3897723575734609,0.3870930270098204,0.38472995887186456,0.37591390855171564,0.35945204341204789,0.34183030247940949,0.3243040532953661,0.30666119689619259]
[]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,"Formula = Adjusted FFO /  Adjusted Debt",null,null,null,null,null,null,null,null,null,null,null,"This is a more dynamic measure of leverage than debt gearing and a useful indicator of a "]
[null," - ratio (%)",null,null,null,null,null,null,null,0.10227997484837624,0.12054061788256151,0.12706947592765153,0.1251341860313866,0.12557971873667495,0.12735919178648325,0.1313360144782463,0.14016809772681357,0.15238137507894725,0.16440988509806889,0.17841927397857493,null,"utility’s ability to generate cash flows."]
[]
[]
[null,"Financial Ratio Benchmarks (for water utilities)",null,null,null,null,null,null,null,null,null,"Credit Rating Range"]
[null,null,null,null,null,null,null,null,null,"A3","Baa1","Baa2","Baa3","Ba1"]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,">2.9","2.3 - 2.9","1.7 - 2.5","1.4 / 1.5 - 1.7","<1.4 / 1.5"]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"<60%","80-85%","60-91%","90-100%",">100%"]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,">10%",">10%","6-10%","5-8%","<4%"]
[null,null,null,null,null,null,null,null,null,"Source: Kanangra Ratings Advisory Services advice to IPART, see IPART, Financeability tests in price regulation Research — Final Decision December 2013, p18"]
[]
[]
[]
[]
[null,"Table 7 - Tariffs"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,90.920999554012127,95.564674815127603,93.117510769598809,93.718607239741772,94.75578599309334,90.792891436112242,84.560750820196972,79.537739617003893,71.587005217146483,63.877807312386878]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003]
[]
[null,"Nominal prices",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,93.194024542862422,100.40263647764343,100.27737437111747,103.4478067626484,107.20747449149222,105.29191861897685,100.51615981945574,96.909012410746897,89.402359945144568,81.76899385773946]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.1934999999999998,2.2483374999999999,2.3045459374999999,2.3621595859374995,2.421213575585937,2.4817439149755853,2.5437875128499745,2.6073822006712235,2.6725667556880035,2.7393809245802032]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.7418749999999998,2.8104218749999998,2.880682421875,2.9526994824218749,3.0265169694824214,3.1021798937194816,3.179734391062468,3.2592277508390297,3.3407084446100046,3.4242261557252545]
[]
[]
[]
[null,"Table 8 - Annual bills"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,304.92099955401216,309.5646748151276,307.11751076959882,307.7186072397418,308.75578599309335,304.79289143611226,298.56075082019697,293.53773961700392,285.5870052171465,277.87780731238689]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,5.1451722600041938E-2,1.5229109401803997E-2,-7.90517860925255E-3,1.9572197906811972E-3,3.3705428561994211E-3,-1.2835045485009133E-2,-2.0447132433275894E-2,-1.6824084175143583E-2,-2.7085901834057902E-2,-2.6994218097906475E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,545.67099955401216,550.31467481512755,547.86751076959877,548.4686072397418,549.50578599309335,545.5428914361122,539.31075082019697,534.28773961700392,526.3370052171465,518.62780731238684]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,5.9555338939829339E-2,8.5100275897211919E-3,-4.4468449734705873E-3,1.0971566269710742E-3,1.8910448832638593E-3,-7.2117430935130233E-3,-1.1423740852913422E-2,-9.3137605648578869E-3,-1.4880997279774322E-2,-1.4646885604365112E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1080.6709995540123,1085.3146748151278,1082.867510769599,1083.4686072397419,1084.5057859930935,1080.5428914361123,1074.310750820197,1069.287739617004,1061.3370052171465,1053.6278073123869]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,6.4700492171440693E-2,4.2970295890534249E-3,-2.2547967905672817E-3,5.5509696630906546E-4,9.5727623894337199E-4,-3.6541018113169788E-3,-5.7676013282845773E-3,-4.6755663567157324E-3,-7.4355424693313132E-3,-7.2636663631475695E-3]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,214.92099955401216,219.5646748151276,217.11751076959882,217.7186072397418,218.75578599309335,214.79289143611226,208.56075082019697,203.53773961700392,195.5870052171465,187.87780731238689]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,7.4604997770060688E-2,2.1606428737776406E-2,-1.1145527155446477E-2,2.7685305897819923E-3,4.7638498449948941E-3,-1.8115610240847402E-2,-2.9014650225372862E-2,-2.4084163407732673E-2,-3.906270362841946E-2,-3.9415695823966534E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,455.67099955401216,460.31467481512755,457.86751076959877,458.4686072397418,459.50578599309335,455.5428914361122,449.31075082019697,444.28773961700392,436.3370052171465,428.62780731238684]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,7.2167057774146226E-2,1.0190850999208578E-2,-5.3162850967365394E-3,1.3128174766816603E-3,2.2622677692067938E-3,-8.6242538783629641E-3,-1.3680688982475875E-2,-1.1179370166468861E-2,-1.7895462086600311E-2,-1.7667990137401057E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,990.67099955401227,995.31467481512777,992.86751076959899,993.46860723974191,994.50578599309347,990.54289143611231,984.31075082019697,979.28773961700404,971.3370052171465,963.62780731238695]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,7.0995675193526786E-2,4.6874040556410534E-3,-2.4586837785580684E-3,6.0541458313712049E-4,1.0439975111375954E-3,-3.9847878341139342E-3,-6.2916413512188463E-3,-5.1030746123694737E-3,-8.1188950685393557E-3,-7.9366871264583416E-3]
[null,"nominal prices'",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,312.54402454286242,325.23638647764341,330.73196812111746,339.66376535639836,349.32883205008591,353.46631011653534,354.89491110445317,357.6472324778693,356.65903551394496,355.7070863157598]
[null," ---- percentage change","%",null,null,null,null,null,null,null,7.7738015665042903E-2,4.060983713684907E-2,1.6897191925516086E-2,2.700615028544795E-2,2.8454806427604451E-2,1.1844078377865497E-2,4.0416892558921003E-3,7.7553137204777745E-3,-2.7630493799095657E-3,-2.669073550354395E-3]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,559.31277454286237,578.17435522764333,589.99338608986739,605.40671877436705,621.71535930350376,632.66250055128864,641.07100630007528,650.97773005338195,657.32279552884529,663.88744033103262]
[null," ---- percentage change","%",null,null,null,null,null,null,null,8.60442224133251E-2,3.3722778279464238E-2,2.044198390219254E-2,2.6124585542645296E-2,2.6938321005345323E-2,1.7607963329149046E-2,1.3290665625763642E-2,1.5453395421020533E-2,9.7469777882310815E-3,9.9869422555256548E-3]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1107.6877745428624,1140.2587302276436,1166.1298704648675,1195.946615258742,1227.0187531999882,1253.0984792951849,1277.0178845125688,1302.8232802211878,1325.4644844508462,1348.7326714760836]
[null," ---- percentage change","%",null,null,null,null,null,null,null,9.1318004475726466E-2,2.9404455328779999E-2,2.268883328966842E-2,2.5568974390466792E-2,2.598120814491689E-2,2.1254545643399902E-2,1.9088208638508242E-2,2.0207544484366347E-2,1.7378568968935193E-2,1.7554741977773736E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,220.29402454286245,230.68013647764343,233.81181187111747,240.32060520014841,247.50209288992968,249.09390247737525,247.91319327431407,247.99097170197669,244.26136821865506,240.4994773380877]
[null," ---- percentage change","%",null,null,null,null,null,null,null,0.10147012271431222,4.7146589456220855E-2,1.3575834665667141E-2,2.7837743854526531E-2,2.9882946091119633E-2,6.4314995031313771E-3,-4.7400164810073031E-3,3.1373250707389388E-4,-1.5039271219130068E-2,-1.5401088219565873E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,467.06277454286243,483.61810522764335,493.07322983986739,506.0635586181171,519.88862014334757,528.29009291212844,534.08928846993615,541.32146927748931,544.92512823355548,548.67983135336044]
[null," ---- percentage change","%",null,null,null,null,null,null,null,9.8971234218499848E-2,3.5445622274188793E-2,1.9550807775845058E-2,2.6345637913598452E-2,2.7318824463436808E-2,1.6160139774677784E-2,1.0977293792962195E-2,1.3541145579369251E-2,6.6571513612345701E-3,6.8903101091637442E-3]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,1015.4377745428625,1045.7024802276435,1069.2097142148675,1096.603455102492,1125.192014039832,1148.7260716560249,1170.0361666824297,1193.1670194452954,1213.0668171555565,1233.5250624984114]
[null," ---- percentage change","%",null,null,null,null,null,null,null,9.7770567073364845E-2,2.9804589157031991E-2,2.247984912697798E-2,2.5620549947715343E-2,2.6070097448916085E-2,2.0915592470033273E-2,1.8551067615000472E-2,1.9769348522321373E-2,1.6678132554746927E-2,1.6864895695379856E-2]

{"sheet":"Sc8","index":9,"n_rows":269,"n_cols":24,"rows_kept":269,"cut":false,"hidden":false,"merged":[]}
[null,"THE INDEPENDENT PRICING AND REGULATORY TRIBUNAL OF NSW",null,null,null,"IPART TEMPLATE FOR COST BUILDING BLOCKS, SIMPLE TARIFF SETTING AND FINANCIAL RATIO ANALYSIS"]
[]
[null,"4   SCENARIO INPUTS, TARIFFS AND OUTPUT TABLES"]
[]
[null,"On this worksheet enter your key decisions about costs and other inputs, then set the tariffs. The worksheet also contains the main output tables for easy reference."]
[null,"To use the Summary workbook, copy and past the values of this worksheet onto one of the worksheets S1 to S12. Copy and paste values for each scenario onto a different worksheet."]
[]
[]
[null,"List of tables",null,null,null,null,null,null,null,"row number"]
[null," DECISIONS"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,null,null,null,null,null,36]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT",null,null,null,null,null,null,null,76]
[null,"SETTING TARIFFS "]
[null,"TABLE 3 - SETTING TARIFFS",null,null,null,null,null,null,null,114]
[]
[null,"OUTPUT TABLES"]
[null,"Table 4 - Regulatory asset base ",null,null,null,null,null,null,null,150]
[null,"Table 5 - Notional revenue requirement and target revenue",null,null,null,null,null,null,null,167]
[null,"Table 6 - Financial indicators",null,null,null,null,null,null,null,195]
[null,"Table 7 - Tariffs",null,null,null,null,null,null,null,218]
[null,"Table 8 - Annual bills",null,null,null,null,null,null,null,234]
[]
[]
[]
[null,"Name of regulated business",null,"A  Regulated Business"]
[null,"Scenario number",null,8,null,null,null,null,null,null,"These are useful for keeping track of model runs. They are particularly useful if a Scenario Summary workbook is used."]
[null,"Scenario description",null,"7 + higher Debt/RAB ",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DATA FOR SELECTIONS - DO NOT DELETE"]
[]
[null,"Type of business with regard to tax (select option)",null,"1. Pays tax and can provide forecast tax depreciation",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"1. Pays tax and can provide forecast tax depreciation"]
[null,null,null,"ok",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2. Pays tax or tax equivalent and can provide tax value of assets but not forecast tax depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"3. Does not pay tax or tax equivalents and has a previously established regulatory tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"4. Does not pay tax or tax equivalents and does not have a previously established tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null," DECISIONS",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DO NOT DELETE"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"nominal","nominal $'000"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,"beware hidden columns",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2015-16 $","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Calculate forecast costs and prices in nominal or 2015-16 $?",null,null,null,null,null,null,null,"2015-16 $",null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency forecast"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast"]
[null,"Select forecast operating expenditure from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Checked - see X54",null,null,null,null,null,null,null,null,"Option 1 - Agency capex"]
[null,"Select capital expenditure",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator capex"]
[null,"  - historical capex up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,"new titles",null,null,null,null,null,null,null,null,2]
[null,"  - forecast capex from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency cap cons"]
[null,"Select cash capital contributions",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator cap cons"]
[null,"  - historical cash cap cons up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"  - forecast cash cap cons from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Allowed depreciation"]
[null,"Use allowed or actual depreciation to roll forward historical RAB?",null,null,null,null,null,null,null,"Allowed depreciation",null,null,"-",null,null,null,null,null,null,null,null,null,"Actual (calculated) depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Tax treatment of cash capital contributions (see comment)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance"]
[null,"  - historical period, up to and including 2015-16",null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance",null,null,null,"Checked - corrected spelling mistake",null,null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance"]
[null,"  - forecast period, from 2016-17",null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance",null,null,null,null,null,null,null,null,null,null,null,null,2,"Is this a trick? It is right but I needed to look at it a 2nd time"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Selected costs"]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[]
[null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,"Suggestion to move to Scenario sheet and use as sole source of data"]
[null,"Selected operating expenditure","$'000",null,null,"na","na","na","na",63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020,null,"moved"]
[]
[null,"Selected capital expenditure",null,null,null,null,null,null,"Option 2 - Regulator capex",null,"Option 2 - Regulator capex"]
[null," - depreciating assets","$'000",null,null,33900,32900,20900,34900,64900,53900,23900,69500,43900,53900,42900,31900,32400,32900,33400,null,"Historical capex needs to link to Scenario W43 (like cap cons)"]
[null," - non-depreciating assets","$'000",null,null,0,1900,0,0,190,2000,2000,0,4990,0,0,0,0,0,0,null,"corrected"]
[]
[null,"Selected cash capital contributions (before tax)",null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,"Option 2 - Regulator cap cons"]
[null," - depreciating assets","$'000",null,null,0,0,2990,210,340,1010,210,510,410,0,0,0,0,0,0]
[null," - non-depreciating assets","$'000",null,null,0,0,8,9,19,20,21,22,23,0,0,0,0,0,0]
[]
[]
[]
[]
[]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Pre-tax WACC"]
[null,"Pre- or post-tax WACC for forecast period?",null,null,null,null,null,null,null,"Post-tax WACC",null,null,null,null,null,null,null,null,null,null,null,null,"Post-tax WACC"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Use actual or notional cost of debt?",null,null,null,null,null,null,null,"Expected actual cost of debt",null,null,null,null,null,null,null,null,null,null,null,null,"Expected actual cost of debt"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Notional cost of debt (WACC risk free rate + debt margin)"]
[null,"Selected options",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[]
[null,"WACC"]
[null,"Cost of Debt (nominal pre-tax)",null,7.1500000000000008E-2]
[null,"Real pre-tax WACC",null,6.1954320696962384E-2]
[null,"Real post-tax WACC",null,5.1386861313868423E-2]
[]
[null,"WACC used for forecast return on assets",null,5.0999999999999997E-2,"Real post-tax WACC (rounded)"]
[null,"Pre-tax WACC for NPV calculations",null,6.2E-2,"rounded"]
[]
[null,"Nominal cost of debt used for financial ratios = Expected actual cost of debt",null,null,null,"na","na","na","na",6.3E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2,6.6000000000000003E-2]
[]
[]
[]
[null,"Spare rows for additional inputs  or outputs"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"SETTING TARIFFS "]
[]
[null,"TABLE 3 - SETTING TARIFFS"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,null,"real 2015-16 prices"]
[null,null,null,null,null,null,null,null,null,null,"Next determination period",null,null,null,"Subsequent determinations"]
[null,"This model uses a very simple tariff structure. Most models will require more tariffs and a more complicated tariff structure.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the first 4 year period"]
[null,"Instructions:",null,null,null,null,null,null,null,null,0.2]
[null,"Step 1. Enter the usage charges",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the second 4 year period"]
[null,"Step 2. The model calculates the default access charges such that required revenue from tariffs = expected revenue from tariffs"]
[null,"Step 3. If you wish to change the access charges, enter alternative charges in the light blue cells. You can use Goal seek or Solver to set the tariffs, eg for NPV neutrality or a glide-path approach.",null,null,null,null,null,null,null,null,null,null,null,"This option gives an average increase for a Weighted Average Price Cap (WAPC)",null,null,null,null,null,null,null,"This macro keeps usage charges unchanged in real terms"]
[null,"Step 4. If you use Goal seek or Solver, consider developing a macro to automate the calculations. Remember to describe what the macros do. Two examples of a tariff-setting macro are provided."]
[null,null,null,null,null,null,null,null,null,null,7.0000000000000007E-2,null,null,null,1.6984737957324258E-2]
[null,"Access charge","$/year",null,null,null,null,null,null,90]
[null,"Default = the tariff that equates required revenue with expected revenue each year",null,null,null,null,null,null,null,null,90.920999554012127,95.564674815127603,93.117510769598809,93.718607239741772,94.75578599309334,90.792891436112242,84.560750820196972,79.537739617003893,71.587005217146483,63.877807312386878]
[null,"Applicable access charge  ","$/year",null,null,null,null,null,null,90,90.920999554012127,95.564674815127603,93.117510769598809,93.718607239741772,94.75578599309334,90.792891436112242,84.560750820196972,79.537739617003893,71.587005217146483,63.877807312386878]
[]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003]
[null,null,null,null,null,null,null,null,null,null,"ok",null,null,null,"ok"]
[null,null,null,null,null,null,null,null,null,null,"ok"]
[null,"   Expected revenue from access charges","$'000",null,null,null,null,null,null,18900,19379.811054937683,20675.417396252855,20448.605365003899,20888.940367666044,21436.601465217504,20847.863731560094,19707.728586155106,18815.44768379844,17188.755822689043,15567.660420101807]
[null,"   Expected revenue from Tier 1 sales","$'000",null,null,null,null,null,null,81600,88168,89024,90950,92662,94588,96514,98440,100366,102292,104432]
[null,"   Expected revenue from Tier 2 sales","$'000",null,null,null,null,null,null,21250,23005.000000000004,23272.500000000004,23540.000000000004,24075.000000000004,24610.000000000004,25145.000000000004,25680.000000000004,26215.000000000004,26750.000000000004,27285.000000000004]
[null,"Total expected revenue from tariffs",null,null,null,null,null,null,null,121750,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475779.15477072983,null,null,null,508217.75749042735]
[]
[null,"Revenue required from tariffs (ie, notional revenue requirement)",null,null,null,null,null,null,null,null,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[]
[null,"Difference between required and expected revenue",null,null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0]
[null,"WACC (for NPV calculations)",null,6.2E-2]
[null,"NPV of difference between required and revenue expected from tariffs",null,null,null,null,null,null,null,null,0,null,null,null,0]
[]
[]
[]
[]
[null,"OUTPUT TABLES"]
[]
[null,"Table 4 - Regulatory asset base "]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"Opening value","$'000",null,null,660000,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,855286.72652442718,856342.89534595655,900272.42650514841,922664.77454745711,949512.31220015546,964508.42128142517,967853.10179126635,971141.80827513349,974365.44982393575]
[null,"Capex (net of cap cons)","$'000",null,null,33900,34800,17902,34681,64731,55179,25738.3,69127.600000000006,48586.9,53900,42900,31900,32400,32900,33400]
[null,"Disposals","$'000",null,null,1700,1000,1000,1300,1000,1200,1300,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Allowed depreciation","$'000",null,null,16717,17972.448780487808,18856.210122546112,19537.117190893929,20694.253730363755,22711.19351613284,23382.131178470503,24198.068840808166,25194.551957691281,26052.462347301673,26903.890918730245,27555.319490158818,28111.293516132842,28676.358451197775,29250.51429535362]
[null,"Indexation","$'000",null,null,8113.2000000000007,16811.908800000001,21740.599800585369,11290.688245463272,19825.553018803021,0,0,0,0,0,0,0,0,0,0]
[null,"Closing value","$'000",null,null,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,855286.72652442718,856342.89534595655,900272.42650514841,922664.77454745711,949512.31220015546,964508.42128142517,967853.10179126635,971141.80827513349,974365.44982393575,977514.93552858208]
[]
[null,"Value of working capital (net)","$'000",null,null,null,null,null,null,5161.868493150685,5890.7890410958898,9223.0249245813575,6182.0369392640514,7988.723401164867,7900.9515521780013,9104.2111395473639,10168.13388471289,10281.11722295063,10424.657933618982,10478.421950742482]
[null,"check = 0",null,null,null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[]
[null,"Table 5 - Notional revenue requirement and target revenue"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"  Operating expenditure","$'000",null,null,null,null,null,null,63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020]
[null,"  Depreciation (regulatory)","$'000",null,null,null,null,null,null,19995.381365565809,22153.308725028994,22807.765266842052,23603.659983749145,24575.665180741966,25412.501593850258,26243.015410165946,26878.442088420903,27420.758996237779,27971.943501239231,28531.995603425268]
[null,"  Return on RAB","$'000",null,null,null,null,null,null,36349.879471020715,42335.30326848093,43156.005869014298,44295.257945814868,45969.708642877551,47215.821689693068,48277.80234614676,48750.207375708007,48929.032738599446,49105.073549294968,49277.877560338165]
[null,"  Return on working capital","$'000",null,null,null,null,null,null,354.73916341348445,293.05037961146377,458.81985188383914,307.5391529360204,397.41678219847159,393.05037669907927,452.9091963563057,505.83639544168085,511.45700244854464,518.59775379061523,521.27236418958944]
[null,"  Tax allowance","$'000",null,null,null,null,null,null,3200,4094.8649090883928,4932.4352113502819,4989.5310433384866,4724.1996824641028,5764.3037399667628,5457.5157051881188,5484.3236354460223,6406.9319286835425,6340.1880244856311,6578.0198561983852]
[null,"     less adjustment for franking credits (gamma)","$'000",null,null,null,null,null,null,-800,-1023.7162272720982,-1233.1088028375705,-1247.3827608346216,-1181.0499206160257,-1441.0759349916907,-1364.3789262970297,-1371.0809088615056,-1601.7329821708856,-1585.0470061214078,-1644.5049640495963]
[null,"Total revenue requirement ","$'000",null,null,null,null,null,null,122750,131552.81105493769,133971.91739625286,135938.6053650039,138625.94036766604,141634.60146521751,143506.86373156009,144827.72858615511,146396.44768379844,147230.75582268904,148284.66042010181]
[null,"   less"]
[null,"   Profit/loss on asset sales","$'000",null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"   Other regulatory revenue","$'000",null,null,null,null,null,null,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Revenue required from tariffs (ie, notional revenue requirement)","$'000",null,null,null,null,null,null,121750,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[]
[]
[null,"Target revenue from tariffs","$'000",null,null,null,null,null,null,121750,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[null,"Implied real return on RAB (post-tax)","%",null,null,null,null,null,null,4.9024370024107637E-2,5.0999999999999997E-2,5.0999999999999955E-2,5.0999999999999976E-2,5.0999999999999997E-2,5.1000000000000031E-2,5.0999999999999969E-2,5.0999999999999983E-2,5.1000000000000011E-2,5.1000000000000004E-2,5.0999999999999997E-2]
[]
[null,"NPV of required revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475779.15477072983]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475779.15477072983]
[null,"Difference",null,null,null,null,null,null,null,null,0]
[null,"check required revenue = 0",null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"Check NPVs = 0",null,null,null,null,null,null,null,null,0,0]
[]
[]
[]
[null,"Table 6 - Financial indicators"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,"Formula = (Adjusted FFO + Adjusted interest payments) / Adjusted interest payments",null,null,null,null,null,null,null,null,null,null,null,"This is a coverage ratio and measures a utility’s ability to service its debt prior to repayment."]
[null," - ratio (times)",null,null,null,null,null,null,null,1.872190621716689,2.0608967921296837,2.0693904318733467,2.1723735271119962,2.1478752586560277,2.1853969110319817,2.2004489504122433,2.2419911850867078,2.3351105547200346,2.4231572304576328,2.5228102849834566]
[]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"Formula = Adjusted Debt / RAB",null,null,null,null,null,null,null,null,null,null,null,"This is a leverage ratio and measures a utility’s ability to repay its debt."]
[null," - ratio (%)",null,null,null,null,null,null,null,0.60015612259929374,0.58421145626529181,0.56835429496195011,0.56650985113972951,0.55922158057686522,0.55168151772209684,0.5399650567638371,0.52263322418503011,0.50415742329451141,0.48579421904196157,0.46733266931955786]
[]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,"Formula = Adjusted FFO /  Adjusted Debt",null,null,null,null,null,null,null,null,null,null,null,"This is a more dynamic measure of leverage than debt gearing and a useful indicator of a "]
[null," - ratio (%)",null,null,null,null,null,null,null,5.4921225352399787E-2,6.7580573425575011E-2,7.0661413936676826E-2,7.2007456729125119E-2,7.3026948705286449E-2,7.5151848336921748E-2,7.7714282853384789E-2,8.230429063180561E-2,8.8778591319382344E-2,9.4744644788301829E-2,0.10155259719792933,null,"utility’s ability to generate cash flows."]
[]
[]
[null,"Financial Ratio Benchmarks (for water utilities)",null,null,null,null,null,null,null,null,null,"Credit Rating Range"]
[null,null,null,null,null,null,null,null,null,"A3","Baa1","Baa2","Baa3","Ba1"]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,">2.9","2.3 - 2.9","1.7 - 2.5","1.4 / 1.5 - 1.7","<1.4 / 1.5"]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"<60%","80-85%","60-91%","90-100%",">100%"]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,">10%",">10%","6-10%","5-8%","<4%"]
[null,null,null,null,null,null,null,null,null,"Source: Kanangra Ratings Advisory Services advice to IPART, see IPART, Financeability tests in price regulation Research — Final Decision December 2013, p18"]
[]
[]
[]
[]
[null,"Table 7 - Tariffs"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,90.920999554012127,95.564674815127603,93.117510769598809,93.718607239741772,94.75578599309334,90.792891436112242,84.560750820196972,79.537739617003893,71.587005217146483,63.877807312386878]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003]
[]
[null,"Nominal prices",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,93.194024542862422,100.40263647764343,100.27737437111747,103.4478067626484,107.20747449149222,105.29191861897685,100.51615981945574,96.909012410746897,89.402359945144568,81.76899385773946]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.1934999999999998,2.2483374999999999,2.3045459374999999,2.3621595859374995,2.421213575585937,2.4817439149755853,2.5437875128499745,2.6073822006712235,2.6725667556880035,2.7393809245802032]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.7418749999999998,2.8104218749999998,2.880682421875,2.9526994824218749,3.0265169694824214,3.1021798937194816,3.179734391062468,3.2592277508390297,3.3407084446100046,3.4242261557252545]
[]
[]
[]
[null,"Table 8 - Annual bills"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,304.92099955401216,309.5646748151276,307.11751076959882,307.7186072397418,308.75578599309335,304.79289143611226,298.56075082019697,293.53773961700392,285.5870052171465,277.87780731238689]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,5.1451722600041938E-2,1.5229109401803997E-2,-7.90517860925255E-3,1.9572197906811972E-3,3.3705428561994211E-3,-1.2835045485009133E-2,-2.0447132433275894E-2,-1.6824084175143583E-2,-2.7085901834057902E-2,-2.6994218097906475E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,545.67099955401216,550.31467481512755,547.86751076959877,548.4686072397418,549.50578599309335,545.5428914361122,539.31075082019697,534.28773961700392,526.3370052171465,518.62780731238684]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,5.9555338939829339E-2,8.5100275897211919E-3,-4.4468449734705873E-3,1.0971566269710742E-3,1.8910448832638593E-3,-7.2117430935130233E-3,-1.1423740852913422E-2,-9.3137605648578869E-3,-1.4880997279774322E-2,-1.4646885604365112E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1080.6709995540123,1085.3146748151278,1082.867510769599,1083.4686072397419,1084.5057859930935,1080.5428914361123,1074.310750820197,1069.287739617004,1061.3370052171465,1053.6278073123869]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,6.4700492171440693E-2,4.2970295890534249E-3,-2.2547967905672817E-3,5.5509696630906546E-4,9.5727623894337199E-4,-3.6541018113169788E-3,-5.7676013282845773E-3,-4.6755663567157324E-3,-7.4355424693313132E-3,-7.2636663631475695E-3]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,214.92099955401216,219.5646748151276,217.11751076959882,217.7186072397418,218.75578599309335,214.79289143611226,208.56075082019697,203.53773961700392,195.5870052171465,187.87780731238689]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,7.4604997770060688E-2,2.1606428737776406E-2,-1.1145527155446477E-2,2.7685305897819923E-3,4.7638498449948941E-3,-1.8115610240847402E-2,-2.9014650225372862E-2,-2.4084163407732673E-2,-3.906270362841946E-2,-3.9415695823966534E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,455.67099955401216,460.31467481512755,457.86751076959877,458.4686072397418,459.50578599309335,455.5428914361122,449.31075082019697,444.28773961700392,436.3370052171465,428.62780731238684]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,7.2167057774146226E-2,1.0190850999208578E-2,-5.3162850967365394E-3,1.3128174766816603E-3,2.2622677692067938E-3,-8.6242538783629641E-3,-1.3680688982475875E-2,-1.1179370166468861E-2,-1.7895462086600311E-2,-1.7667990137401057E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,990.67099955401227,995.31467481512777,992.86751076959899,993.46860723974191,994.50578599309347,990.54289143611231,984.31075082019697,979.28773961700404,971.3370052171465,963.62780731238695]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,7.0995675193526786E-2,4.6874040556410534E-3,-2.4586837785580684E-3,6.0541458313712049E-4,1.0439975111375954E-3,-3.9847878341139342E-3,-6.2916413512188463E-3,-5.1030746123694737E-3,-8.1188950685393557E-3,-7.9366871264583416E-3]
[null,"nominal prices'",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,312.54402454286242,325.23638647764341,330.73196812111746,339.66376535639836,349.32883205008591,353.46631011653534,354.89491110445317,357.6472324778693,356.65903551394496,355.7070863157598]
[null," ---- percentage change","%",null,null,null,null,null,null,null,7.7738015665042903E-2,4.060983713684907E-2,1.6897191925516086E-2,2.700615028544795E-2,2.8454806427604451E-2,1.1844078377865497E-2,4.0416892558921003E-3,7.7553137204777745E-3,-2.7630493799095657E-3,-2.669073550354395E-3]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,559.31277454286237,578.17435522764333,589.99338608986739,605.40671877436705,621.71535930350376,632.66250055128864,641.07100630007528,650.97773005338195,657.32279552884529,663.88744033103262]
[null," ---- percentage change","%",null,null,null,null,null,null,null,8.60442224133251E-2,3.3722778279464238E-2,2.044198390219254E-2,2.6124585542645296E-2,2.6938321005345323E-2,1.7607963329149046E-2,1.3290665625763642E-2,1.5453395421020533E-2,9.7469777882310815E-3,9.9869422555256548E-3]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1107.6877745428624,1140.2587302276436,1166.1298704648675,1195.946615258742,1227.0187531999882,1253.0984792951849,1277.0178845125688,1302.8232802211878,1325.4644844508462,1348.7326714760836]
[null," ---- percentage change","%",null,null,null,null,null,null,null,9.1318004475726466E-2,2.9404455328779999E-2,2.268883328966842E-2,2.5568974390466792E-2,2.598120814491689E-2,2.1254545643399902E-2,1.9088208638508242E-2,2.0207544484366347E-2,1.7378568968935193E-2,1.7554741977773736E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,220.29402454286245,230.68013647764343,233.81181187111747,240.32060520014841,247.50209288992968,249.09390247737525,247.91319327431407,247.99097170197669,244.26136821865506,240.4994773380877]
[null," ---- percentage change","%",null,null,null,null,null,null,null,0.10147012271431222,4.7146589456220855E-2,1.3575834665667141E-2,2.7837743854526531E-2,2.9882946091119633E-2,6.4314995031313771E-3,-4.7400164810073031E-3,3.1373250707389388E-4,-1.5039271219130068E-2,-1.5401088219565873E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,467.06277454286243,483.61810522764335,493.07322983986739,506.0635586181171,519.88862014334757,528.29009291212844,534.08928846993615,541.32146927748931,544.92512823355548,548.67983135336044]
[null," ---- percentage change","%",null,null,null,null,null,null,null,9.8971234218499848E-2,3.5445622274188793E-2,1.9550807775845058E-2,2.6345637913598452E-2,2.7318824463436808E-2,1.6160139774677784E-2,1.0977293792962195E-2,1.3541145579369251E-2,6.6571513612345701E-3,6.8903101091637442E-3]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,1015.4377745428625,1045.7024802276435,1069.2097142148675,1096.603455102492,1125.192014039832,1148.7260716560249,1170.0361666824297,1193.1670194452954,1213.0668171555565,1233.5250624984114]
[null," ---- percentage change","%",null,null,null,null,null,null,null,9.7770567073364845E-2,2.9804589157031991E-2,2.247984912697798E-2,2.5620549947715343E-2,2.6070097448916085E-2,2.0915592470033273E-2,1.8551067615000472E-2,1.9769348522321373E-2,1.6678132554746927E-2,1.6864895695379856E-2]

{"sheet":"Sc9","index":10,"n_rows":269,"n_cols":24,"rows_kept":269,"cut":false,"hidden":false,"merged":[]}
[null,"THE INDEPENDENT PRICING AND REGULATORY TRIBUNAL OF NSW",null,null,null,"IPART TEMPLATE FOR COST BUILDING BLOCKS, SIMPLE TARIFF SETTING AND FINANCIAL RATIO ANALYSIS"]
[]
[null,"4   SCENARIO INPUTS, TARIFFS AND OUTPUT TABLES"]
[]
[null,"On this worksheet enter your key decisions about costs and other inputs, then set the tariffs. The worksheet also contains the main output tables for easy reference."]
[null,"To use the Summary workbook, copy and past the values of this worksheet onto one of the worksheets S1 to S12. Copy and paste values for each scenario onto a different worksheet."]
[]
[]
[null,"List of tables",null,null,null,null,null,null,null,"row number"]
[null," DECISIONS"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,null,null,null,null,null,36]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT",null,null,null,null,null,null,null,76]
[null,"SETTING TARIFFS "]
[null,"TABLE 3 - SETTING TARIFFS",null,null,null,null,null,null,null,114]
[]
[null,"OUTPUT TABLES"]
[null,"Table 4 - Regulatory asset base ",null,null,null,null,null,null,null,150]
[null,"Table 5 - Notional revenue requirement and target revenue",null,null,null,null,null,null,null,167]
[null,"Table 6 - Financial indicators",null,null,null,null,null,null,null,195]
[null,"Table 7 - Tariffs",null,null,null,null,null,null,null,218]
[null,"Table 8 - Annual bills",null,null,null,null,null,null,null,234]
[]
[]
[]
[null,"Name of regulated business",null,"A  Regulated Business"]
[null,"Scenario number",null,9,null,null,null,null,null,null,"These are useful for keeping track of model runs. They are particularly useful if a Scenario Summary workbook is used."]
[null,"Scenario description",null,"8 + notional cost of debt used for financial analysis",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DATA FOR SELECTIONS - DO NOT DELETE"]
[]
[null,"Type of business with regard to tax (select option)",null,"1. Pays tax and can provide forecast tax depreciation",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"1. Pays tax and can provide forecast tax depreciation"]
[null,null,null,"ok",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2. Pays tax or tax equivalent and can provide tax value of assets but not forecast tax depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"3. Does not pay tax or tax equivalents and has a previously established regulatory tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"4. Does not pay tax or tax equivalents and does not have a previously established tax value of assets"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null," DECISIONS",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"DO NOT DELETE"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"nominal","nominal $'000"]
[null,"TABLE 1   SELECT COST OPTIONS",null,null,"beware hidden columns",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2015-16 $","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Calculate forecast costs and prices in nominal or 2015-16 $?",null,null,null,null,null,null,null,"2015-16 $",null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency forecast"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast"]
[null,"Select forecast operating expenditure from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Checked - see X54",null,null,null,null,null,null,null,null,"Option 1 - Agency capex"]
[null,"Select capital expenditure",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator capex"]
[null,"  - historical capex up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,"new titles",null,null,null,null,null,null,null,null,2]
[null,"  - forecast capex from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator capex",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 1 - Agency cap cons"]
[null,"Select cash capital contributions",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator cap cons"]
[null,"  - historical cash cap cons up to and including 2014-15",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"  - forecast cash cap cons from 2015-16",null,null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Allowed depreciation"]
[null,"Use allowed or actual depreciation to roll forward historical RAB?",null,null,null,null,null,null,null,"Allowed depreciation",null,null,"-",null,null,null,null,null,null,null,null,null,"Actual (calculated) depreciation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Tax treatment of cash capital contributions (see comment)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance"]
[null,"  - historical period, up to and including 2015-16",null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance",null,null,null,"Checked - corrected spelling mistake",null,null,null,null,null,null,null,null,"Use gross amount & include tax in tax allowance"]
[null,"  - forecast period, from 2016-17",null,null,null,null,null,null,null,"Use net of tax & do not included tax in tax allowance",null,null,null,null,null,null,null,null,null,null,null,null,2,"Is this a trick? It is right but I needed to look at it a 2nd time"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,"Selected costs"]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[]
[null,null,null,null,null,null,null,null,null,null,"Option 2 - Regulator forecast",null,null,null,null,null,null,null,null,null,null,"Suggestion to move to Scenario sheet and use as sole source of data"]
[null,"Selected operating expenditure","$'000",null,null,"na","na","na","na",63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020,null,"moved"]
[]
[null,"Selected capital expenditure",null,null,null,null,null,null,"Option 2 - Regulator capex",null,"Option 2 - Regulator capex"]
[null," - depreciating assets","$'000",null,null,33900,32900,20900,34900,64900,53900,23900,69500,43900,53900,42900,31900,32400,32900,33400,null,"Historical capex needs to link to Scenario W43 (like cap cons)"]
[null," - non-depreciating assets","$'000",null,null,0,1900,0,0,190,2000,2000,0,4990,0,0,0,0,0,0,null,"corrected"]
[]
[null,"Selected cash capital contributions (before tax)",null,null,null,null,null,null,"Option 2 - Regulator cap cons",null,"Option 2 - Regulator cap cons"]
[null," - depreciating assets","$'000",null,null,0,0,2990,210,340,1010,210,510,410,0,0,0,0,0,0]
[null," - non-depreciating assets","$'000",null,null,0,0,8,9,19,20,21,22,23,0,0,0,0,0,0]
[]
[]
[]
[]
[]
[null,"TABLE 2 -  SELECT WACC AND COST OF DEBT"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Pre-tax WACC"]
[null,"Pre- or post-tax WACC for forecast period?",null,null,null,null,null,null,null,"Post-tax WACC",null,null,null,null,null,null,null,null,null,null,null,null,"Post-tax WACC"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[null,"Use actual or notional cost of debt?",null,null,null,null,null,null,null,"Notional cost of debt (WACC risk free rate + debt margin)",null,null,null,null,null,null,null,null,null,null,null,null,"Expected actual cost of debt"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Notional cost of debt (WACC risk free rate + debt margin)"]
[null,"Selected options",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2]
[]
[null,"WACC"]
[null,"Cost of Debt (nominal pre-tax)",null,7.1500000000000008E-2]
[null,"Real pre-tax WACC",null,6.1954320696962384E-2]
[null,"Real post-tax WACC",null,5.1386861313868423E-2]
[]
[null,"WACC used for forecast return on assets",null,5.0999999999999997E-2,"Real post-tax WACC (rounded)"]
[null,"Pre-tax WACC for NPV calculations",null,6.2E-2,"rounded"]
[]
[null,"Nominal cost of debt used for financial ratios = Notional cost of debt (WACC risk free rate + debt margin)",null,null,null,"na","na","na","na",5.8000000000000003E-2,7.1500000000000008E-2,7.1500000000000008E-2,7.1500000000000008E-2,7.1500000000000008E-2,7.1500000000000008E-2,7.1500000000000008E-2,7.1500000000000008E-2,7.1500000000000008E-2,7.1500000000000008E-2,7.1500000000000008E-2]
[]
[]
[]
[null,"Spare rows for additional inputs  or outputs"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"SETTING TARIFFS "]
[]
[null,"TABLE 3 - SETTING TARIFFS"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,null,"real 2015-16 prices"]
[null,null,null,null,null,null,null,null,null,null,"Next determination period",null,null,null,"Subsequent determinations"]
[null,"This model uses a very simple tariff structure. Most models will require more tariffs and a more complicated tariff structure.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the first 4 year period"]
[null,"Instructions:",null,null,null,null,null,null,null,null,0.2]
[null,"Step 1. Enter the usage charges",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This macro increases the tariffs by a constant % each year, and sets the increase so that NPV cost = NPV revenue for the second 4 year period"]
[null,"Step 2. The model calculates the default access charges such that required revenue from tariffs = expected revenue from tariffs"]
[null,"Step 3. If you wish to change the access charges, enter alternative charges in the light blue cells. You can use Goal seek or Solver to set the tariffs, eg for NPV neutrality or a glide-path approach.",null,null,null,null,null,null,null,null,null,null,null,"This option gives an average increase for a Weighted Average Price Cap (WAPC)",null,null,null,null,null,null,null,"This macro keeps usage charges unchanged in real terms"]
[null,"Step 4. If you use Goal seek or Solver, consider developing a macro to automate the calculations. Remember to describe what the macros do. Two examples of a tariff-setting macro are provided."]
[null,null,null,null,null,null,null,null,null,null,7.0000000000000007E-2,null,null,null,1.6984737957324258E-2]
[null,"Access charge","$/year",null,null,null,null,null,null,90]
[null,"Default = the tariff that equates required revenue with expected revenue each year",null,null,null,null,null,null,null,null,90.920999554012127,95.564674815127603,93.117510769598809,93.718607239741772,94.75578599309334,90.792891436112242,84.560750820196972,79.537739617003893,71.587005217146483,63.877807312386878]
[null,"Applicable access charge  ","$/year",null,null,null,null,null,null,90,90.920999554012127,95.564674815127603,93.117510769598809,93.718607239741772,94.75578599309334,90.792891436112242,84.560750820196972,79.537739617003893,71.587005217146483,63.877807312386878]
[]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003]
[null,null,null,null,null,null,null,null,null,null,"ok",null,null,null,"ok"]
[null,null,null,null,null,null,null,null,null,null,"ok"]
[null,"   Expected revenue from access charges","$'000",null,null,null,null,null,null,18900,19379.811054937683,20675.417396252855,20448.605365003899,20888.940367666044,21436.601465217504,20847.863731560094,19707.728586155106,18815.44768379844,17188.755822689043,15567.660420101807]
[null,"   Expected revenue from Tier 1 sales","$'000",null,null,null,null,null,null,81600,88168,89024,90950,92662,94588,96514,98440,100366,102292,104432]
[null,"   Expected revenue from Tier 2 sales","$'000",null,null,null,null,null,null,21250,23005.000000000004,23272.500000000004,23540.000000000004,24075.000000000004,24610.000000000004,25145.000000000004,25680.000000000004,26215.000000000004,26750.000000000004,27285.000000000004]
[null,"Total expected revenue from tariffs",null,null,null,null,null,null,null,121750,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475779.15477072983,null,null,null,508217.75749042735]
[]
[null,"Revenue required from tariffs (ie, notional revenue requirement)",null,null,null,null,null,null,null,null,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[]
[null,"Difference between required and expected revenue",null,null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0]
[null,"WACC (for NPV calculations)",null,6.2E-2]
[null,"NPV of difference between required and revenue expected from tariffs",null,null,null,null,null,null,null,null,0,null,null,null,0]
[]
[]
[]
[]
[null,"OUTPUT TABLES"]
[]
[null,"Table 4 - Regulatory asset base "]
[null,"Financial year",null,null,null,"2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"Previous determinations","Next determination period",null,null,null,"Subsequent determinations"]
[null,null,null,null,null,"nominal","nominal","nominal","nominal","nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"Opening value","$'000",null,null,660000,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,855286.72652442718,856342.89534595655,900272.42650514841,922664.77454745711,949512.31220015546,964508.42128142517,967853.10179126635,971141.80827513349,974365.44982393575]
[null,"Capex (net of cap cons)","$'000",null,null,33900,34800,17902,34681,64731,55179,25738.3,69127.600000000006,48586.9,53900,42900,31900,32400,32900,33400]
[null,"Disposals","$'000",null,null,1700,1000,1000,1300,1000,1200,1300,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Allowed depreciation","$'000",null,null,16717,17972.448780487808,18856.210122546112,19537.117190893929,20694.253730363755,22711.19351613284,23382.131178470503,24198.068840808166,25194.551957691281,26052.462347301673,26903.890918730245,27555.319490158818,28111.293516132842,28676.358451197775,29250.51429535362]
[null,"Indexation","$'000",null,null,8113.2000000000007,16811.908800000001,21740.599800585369,11290.688245463272,19825.553018803021,0,0,0,0,0,0,0,0,0,0]
[null,"Closing value","$'000",null,null,683596.20000000007,716235.66001951229,736022.04969755153,761156.62075212086,824018.92004056007,855286.72652442718,856342.89534595655,900272.42650514841,922664.77454745711,949512.31220015546,964508.42128142517,967853.10179126635,971141.80827513349,974365.44982393575,977514.93552858208]
[]
[null,"Value of working capital (net)","$'000",null,null,null,null,null,null,5161.868493150685,5890.7890410958898,9223.0249245813575,6182.0369392640514,7988.723401164867,7900.9515521780013,9104.2111395473639,10168.13388471289,10281.11722295063,10424.657933618982,10478.421950742482]
[null,"check = 0",null,null,null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[]
[null,"Table 5 - Notional revenue requirement and target revenue"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,null,null,null,null,null,null,null,null,"nominal","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000","2015-16 $'000"]
[]
[null,"  Operating expenditure","$'000",null,null,null,null,null,null,63650,63700,63850,63990,64140,64290,64440,64580,64730,64880,65020]
[null,"  Depreciation (regulatory)","$'000",null,null,null,null,null,null,19995.381365565809,22153.308725028994,22807.765266842052,23603.659983749145,24575.665180741966,25412.501593850258,26243.015410165946,26878.442088420903,27420.758996237779,27971.943501239231,28531.995603425268]
[null,"  Return on RAB","$'000",null,null,null,null,null,null,36349.879471020715,42335.30326848093,43156.005869014298,44295.257945814868,45969.708642877551,47215.821689693068,48277.80234614676,48750.207375708007,48929.032738599446,49105.073549294968,49277.877560338165]
[null,"  Return on working capital","$'000",null,null,null,null,null,null,354.73916341348445,293.05037961146377,458.81985188383914,307.5391529360204,397.41678219847159,393.05037669907927,452.9091963563057,505.83639544168085,511.45700244854464,518.59775379061523,521.27236418958944]
[null,"  Tax allowance","$'000",null,null,null,null,null,null,3200,4094.8649090883928,4932.4352113502819,4989.5310433384866,4724.1996824641028,5764.3037399667628,5457.5157051881188,5484.3236354460223,6406.9319286835425,6340.1880244856311,6578.0198561983852]
[null,"     less adjustment for franking credits (gamma)","$'000",null,null,null,null,null,null,-800,-1023.7162272720982,-1233.1088028375705,-1247.3827608346216,-1181.0499206160257,-1441.0759349916907,-1364.3789262970297,-1371.0809088615056,-1601.7329821708856,-1585.0470061214078,-1644.5049640495963]
[null,"Total revenue requirement ","$'000",null,null,null,null,null,null,122750,131552.81105493769,133971.91739625286,135938.6053650039,138625.94036766604,141634.60146521751,143506.86373156009,144827.72858615511,146396.44768379844,147230.75582268904,148284.66042010181]
[null,"   less"]
[null,"   Profit/loss on asset sales","$'000",null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"   Other regulatory revenue","$'000",null,null,null,null,null,null,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000]
[null,"Revenue required from tariffs (ie, notional revenue requirement)","$'000",null,null,null,null,null,null,121750,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[]
[]
[null,"Target revenue from tariffs","$'000",null,null,null,null,null,null,121750,130552.81105493769,132971.91739625286,134938.6053650039,137625.94036766604,140634.60146521751,142506.86373156009,143827.72858615511,145396.44768379844,146230.75582268904,147284.66042010181]
[null,"Implied real return on RAB (post-tax)","%",null,null,null,null,null,null,4.9024370024107637E-2,5.0999999999999997E-2,5.0999999999999955E-2,5.0999999999999976E-2,5.0999999999999997E-2,5.1000000000000031E-2,5.0999999999999969E-2,5.0999999999999983E-2,5.1000000000000011E-2,5.1000000000000004E-2,5.0999999999999997E-2]
[]
[null,"NPV of required revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475779.15477072983]
[null,"NPV of expected revenue from tariffs over next determination period",null,null,null,null,null,null,null,null,475779.15477072983]
[null,"Difference",null,null,null,null,null,null,null,null,0]
[null,"check required revenue = 0",null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,"Check NPVs = 0",null,null,null,null,null,null,null,null,0,0]
[]
[]
[]
[null,"Table 6 - Financial indicators"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,"Formula = (Adjusted FFO + Adjusted interest payments) / Adjusted interest payments",null,null,null,null,null,null,null,null,null,null,null,"This is a coverage ratio and measures a utility’s ability to service its debt prior to repayment."]
[null," - ratio (times)",null,null,null,null,null,null,null,2.0060990103716785,1.9268584449756505,1.9306639207996554,2.0222193419452581,1.9969552608829739,2.0283522531042943,2.0391627740714995,2.0737981116172377,2.154761823297858,2.230532537695038,2.3162883678405222]
[]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"Formula = Adjusted Debt / RAB",null,null,null,null,null,null,null,null,null,null,null,"This is a leverage ratio and measures a utility’s ability to repay its debt."]
[null," - ratio (%)",null,null,null,null,null,null,null,0.60015612259929374,0.58526544598204722,0.57049287813822569,0.56954997174033062,0.56321686351157696,0.55657549832563635,0.54579419934848616,0.52944413100249288,0.51191485808441139,0.49446112633321065,0.47687254640067056]
[]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,"Formula = Adjusted FFO /  Adjusted Debt",null,null,null,null,null,null,null,null,null,null,null,"This is a more dynamic measure of leverage than debt gearing and a useful indicator of a "]
[null," - ratio (%)",null,null,null,null,null,null,null,5.8343597657976684E-2,6.3829651244743144E-2,6.6471511543256534E-2,6.7889823498290994E-2,6.8571732986824133E-2,7.048943808446255E-2,7.2721944913203065E-2,7.6898703876521507E-2,8.2970687466827342E-2,8.8510202197303794E-2,9.4829485655387555E-2,null,"utility’s ability to generate cash flows."]
[]
[]
[null,"Financial Ratio Benchmarks (for water utilities)",null,null,null,null,null,null,null,null,null,"Credit Rating Range"]
[null,null,null,null,null,null,null,null,null,"A3","Baa1","Baa2","Baa3","Ba1"]
[null,"1. FFO Interest Cover",null,null,null,null,null,null,null,">2.9","2.3 - 2.9","1.7 - 2.5","1.4 / 1.5 - 1.7","<1.4 / 1.5"]
[null,"2. Debt / RAB",null,null,null,null,null,null,null,"<60%","80-85%","60-91%","90-100%",">100%"]
[null," 3. FFO / Debt",null,null,null,null,null,null,null,">10%",">10%","6-10%","5-8%","<4%"]
[null,null,null,null,null,null,null,null,null,"Source: Kanangra Ratings Advisory Services advice to IPART, see IPART, Financeability tests in price regulation Research — Final Decision December 2013, p18"]
[]
[]
[]
[]
[null,"Table 7 - Tariffs"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,90.920999554012127,95.564674815127603,93.117510769598809,93.718607239741772,94.75578599309334,90.792891436112242,84.560750820196972,79.537739617003893,71.587005217146483,63.877807312386878]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14,2.14]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003,2.6750000000000003]
[]
[null,"Nominal prices",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Access charge","$/year",null,null,null,null,null,null,90,93.194024542862422,100.40263647764343,100.27737437111747,103.4478067626484,107.20747449149222,105.29191861897685,100.51615981945574,96.909012410746897,89.402359945144568,81.76899385773946]
[null,"Usage charge for Tier 1 consumption","$/kL",null,null,null,null,null,null,2,2.1934999999999998,2.2483374999999999,2.3045459374999999,2.3621595859374995,2.421213575585937,2.4817439149755853,2.5437875128499745,2.6073822006712235,2.6725667556880035,2.7393809245802032]
[null,"Usage charge for Tier 2 consumption","$/kL",null,null,null,null,null,null,2.5,2.7418749999999998,2.8104218749999998,2.880682421875,2.9526994824218749,3.0265169694824214,3.1021798937194816,3.179734391062468,3.2592277508390297,3.3407084446100046,3.4242261557252545]
[]
[]
[]
[null,"Table 8 - Annual bills"]
[null,"Financial year",null,null,null,null,null,null,null,"2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24","2024-25","2025-26"]
[null,"real 2015-16 prices",null,null,null,null,null,null,null,null,"real 2015-16 prices",null,null,null,"real 2015-16 prices"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,304.92099955401216,309.5646748151276,307.11751076959882,307.7186072397418,308.75578599309335,304.79289143611226,298.56075082019697,293.53773961700392,285.5870052171465,277.87780731238689]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,5.1451722600041938E-2,1.5229109401803997E-2,-7.90517860925255E-3,1.9572197906811972E-3,3.3705428561994211E-3,-1.2835045485009133E-2,-2.0447132433275894E-2,-1.6824084175143583E-2,-2.7085901834057902E-2,-2.6994218097906475E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,545.67099955401216,550.31467481512755,547.86751076959877,548.4686072397418,549.50578599309335,545.5428914361122,539.31075082019697,534.28773961700392,526.3370052171465,518.62780731238684]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,5.9555338939829339E-2,8.5100275897211919E-3,-4.4468449734705873E-3,1.0971566269710742E-3,1.8910448832638593E-3,-7.2117430935130233E-3,-1.1423740852913422E-2,-9.3137605648578869E-3,-1.4880997279774322E-2,-1.4646885604365112E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1080.6709995540123,1085.3146748151278,1082.867510769599,1083.4686072397419,1084.5057859930935,1080.5428914361123,1074.310750820197,1069.287739617004,1061.3370052171465,1053.6278073123869]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,6.4700492171440693E-2,4.2970295890534249E-3,-2.2547967905672817E-3,5.5509696630906546E-4,9.5727623894337199E-4,-3.6541018113169788E-3,-5.7676013282845773E-3,-4.6755663567157324E-3,-7.4355424693313132E-3,-7.2636663631475695E-3]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,214.92099955401216,219.5646748151276,217.11751076959882,217.7186072397418,218.75578599309335,214.79289143611226,208.56075082019697,203.53773961700392,195.5870052171465,187.87780731238689]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,7.4604997770060688E-2,2.1606428737776406E-2,-1.1145527155446477E-2,2.7685305897819923E-3,4.7638498449948941E-3,-1.8115610240847402E-2,-2.9014650225372862E-2,-2.4084163407732673E-2,-3.906270362841946E-2,-3.9415695823966534E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,455.67099955401216,460.31467481512755,457.86751076959877,458.4686072397418,459.50578599309335,455.5428914361122,449.31075082019697,444.28773961700392,436.3370052171465,428.62780731238684]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,7.2167057774146226E-2,1.0190850999208578E-2,-5.3162850967365394E-3,1.3128174766816603E-3,2.2622677692067938E-3,-8.6242538783629641E-3,-1.3680688982475875E-2,-1.1179370166468861E-2,-1.7895462086600311E-2,-1.7667990137401057E-2]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,990.67099955401227,995.31467481512777,992.86751076959899,993.46860723974191,994.50578599309347,990.54289143611231,984.31075082019697,979.28773961700404,971.3370052171465,963.62780731238695]
[null," ---- percentage change","real % pa",null,null,null,null,null,null,null,7.0995675193526786E-2,4.6874040556410534E-3,-2.4586837785580684E-3,6.0541458313712049E-4,1.0439975111375954E-3,-3.9847878341139342E-3,-6.2916413512188463E-3,-5.1030746123694737E-3,-8.1188950685393557E-3,-7.9366871264583416E-3]
[null,"nominal prices'",null,null,null,null,null,null,null,null,"nominal prices'",null,null,null,"nominal prices'"]
[]
[null,"Bills for non-pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,290,312.54402454286242,325.23638647764341,330.73196812111746,339.66376535639836,349.32883205008591,353.46631011653534,354.89491110445317,357.6472324778693,356.65903551394496,355.7070863157598]
[null," ---- percentage change","%",null,null,null,null,null,null,null,7.7738015665042903E-2,4.060983713684907E-2,1.6897191925516086E-2,2.700615028544795E-2,2.8454806427604451E-2,1.1844078377865497E-2,4.0416892558921003E-3,7.7553137204777745E-3,-2.7630493799095657E-3,-2.669073550354395E-3]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,515,559.31277454286237,578.17435522764333,589.99338608986739,605.40671877436705,621.71535930350376,632.66250055128864,641.07100630007528,650.97773005338195,657.32279552884529,663.88744033103262]
[null," ---- percentage change","%",null,null,null,null,null,null,null,8.60442224133251E-2,3.3722778279464238E-2,2.044198390219254E-2,2.6124585542645296E-2,2.6938321005345323E-2,1.7607963329149046E-2,1.3290665625763642E-2,1.5453395421020533E-2,9.7469777882310815E-3,9.9869422555256548E-3]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,1015,1107.6877745428624,1140.2587302276436,1166.1298704648675,1195.946615258742,1227.0187531999882,1253.0984792951849,1277.0178845125688,1302.8232802211878,1325.4644844508462,1348.7326714760836]
[null," ---- percentage change","%",null,null,null,null,null,null,null,9.1318004475726466E-2,2.9404455328779999E-2,2.268883328966842E-2,2.5568974390466792E-2,2.598120814491689E-2,2.1254545643399902E-2,1.9088208638508242E-2,2.0207544484366347E-2,1.7378568968935193E-2,1.7554741977773736E-2]
[]
[null,"Bills for pensioners"]
[null,"Small customer (100 kL pa)","$/year",null,null,null,null,null,null,200,220.29402454286245,230.68013647764343,233.81181187111747,240.32060520014841,247.50209288992968,249.09390247737525,247.91319327431407,247.99097170197669,244.26136821865506,240.4994773380877]
[null," ---- percentage change","%",null,null,null,null,null,null,null,0.10147012271431222,4.7146589456220855E-2,1.3575834665667141E-2,2.7837743854526531E-2,2.9882946091119633E-2,6.4314995031313771E-3,-4.7400164810073031E-3,3.1373250707389388E-4,-1.5039271219130068E-2,-1.5401088219565873E-2]
[null,"Medium customer (200 kL pa)","$/year",null,null,null,null,null,null,425,467.06277454286243,483.61810522764335,493.07322983986739,506.0635586181171,519.88862014334757,528.29009291212844,534.08928846993615,541.32146927748931,544.92512823355548,548.67983135336044]
[null," ---- percentage change","%",null,null,null,null,null,null,null,9.8971234218499848E-2,3.5445622274188793E-2,1.9550807775845058E-2,2.6345637913598452E-2,2.7318824463436808E-2,1.6160139774677784E-2,1.0977293792962195E-2,1.3541145579369251E-2,6.6571513612345701E-3,6.8903101091637442E-3]
[null,"Large customer (400 kL pa)","$/year",null,null,null,null,null,null,925,1015.4377745428625,1045.7024802276435,1069.2097142148675,1096.603455102492,1125.192014039832,1148.7260716560249,1170.0361666824297,1193.1670194452954,1213.0668171555565,1233.5250624984114]
[null," ---- percentage change","%",null,null,null,null,null,null,null,9.7770567073364845E-2,2.9804589157031991E-2,2.247984912697798E-2,2.5620549947715343E-2,2.6070097448916085E-2,2.0915592470033273E-2,1.8551067615000472E-2,1.9769348522321373E-2,1.6678132554746927E-2,1.6864895695379856E-2]

{"sheet":"Sc10","index":11,"n_rows":0,"n_cols":0,"rows_kept":0,"cut":false,"hidden":false,"merged":[]}

{"sheet":"Sc11","index":12,"n_rows":0,"n_cols":0,"rows_kept":0,"cut":false,"hidden":false,"merged":[]}

{"sheet":"Sc12","index":13,"n_rows":0,"n_cols":0,"rows_kept":0,"cut":false,"hidden":false,"merged":[]}