In line with our final decision on AusNet's gas distribution network, we have updated AusNet's return on debt for 2024-25. As a result of this update, the return on debt for 2024-25 is 4.57 per cent. This results in an X-factor for 2024-25 of -2.41 per cent. Holding other things constant, a positive X-factor implies a real revenue decrease and a negative X-factor implies a real revenue increase. The revised PTRM shows the updated X-factor.