In line with our final decision on Citipower's electricity distribution network, we have updated Citipower's return on debt for 2022–23. As a result of this update, the return on debt for 2022–23 is 4.37 per cent. This results in an X-factor for 2022–23 of 0.83 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.

In line with our final decision on CitiPower's electricity distribution network, we have updated CitiPower's return on debt for 2023–24. As a result of this update, the return on debt for 2023–24 is 4.45 per cent. This results in an X-factor for 2023–24 of 0.20 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.

In line with our final decision on CitiPower's electricity distribution network, we have updated CitiPower's return on debt for 2024-25. As a result of this update, the return on debt for 2024-25 is 4.48 per cent. This results in an X-factor for 2024-25 of -0.91 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.