In line with our final decision on Murraylink's electricity transmission network, we have updated Murraylink's return on debt for 2024-25. As a result of this update, the return on debt for 2024-25 is 4.39 per cent. This results in an X-factor for 2024-25 of -1.24 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.