Transmission network service provider revenue determinations have transitioned to recognising capital expenditure (capex) on a partially as-incurred approach, where the return on capital is calculated based on as-incurred capex and the return of capital (depreciation) is calculated based on as-commissioned capex.
In order to continue with recognising capex under the partially as-incurred approach the AER has amended the transmission post-tax revenue model under clause 6A.5.2.(b) of the National Electricity Rules (NER).