On 26 June 2008 the AER published version 01 of the post-tax revenue model (PTRM) for electricity distribution network service providers (DNSP). Since that time the AER has become aware of the following three non-consequential errors in this version of the PTRM:
- the incorrect summation of values in row 37 of the "Input" sheet (has no impact on subsequent calculations)
- the incorrect references to capital expenditure inputs in the formulae of rows 169 to 178 and 182 to 191 of the "Assets" sheet (affects depreciation values)
- the incorrect summation of values in row 479 of the "Assets" sheet (affects tax liability values)
The AER has now issued version 02 of the PTRM which corrects these non-consequential errors.
Correcting these non-consequential errors does not alter the substance or the intended calculations of the PTRM as consulted upon and published by the AER in June 2008. For this reason, the AER has not applied the distribution consultation procedures in the NER in making these corrections. The AER also notes version 01 of the PTRM has not yet been applied by the AER or implemented by DNSPs in the context of any distribution determinations.
The corrections are listed in the amendment record of the “intro” sheet of the latest PTRM version. The accompanying handbook has not been amended. Both are available on the AER's website.