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{"sheet":"Coversheet","index":0,"n_rows":17,"n_cols":1,"rows_kept":17,"cut":false,"hidden":false,"merged":[]}
[]
[]
["Financial Model"]
["Powerco Customised Price-Quality Path Proposal"]
["Draft Determination 16 November 2017"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
["Draft Decision v1"]

{"sheet":"Description","index":1,"n_rows":7,"n_cols":2,"rows_kept":7,"cut":false,"hidden":false,"merged":[]}
["Description"]
[]
[null,"This model is published alongside the Commerce Commission's draft determination \"[DRAFT] Powerco Limited Electricity Distribution Customised Price-Quality Path Determination 2018\", and calculates the draft starting price of $278,559,000 that is set out in Schedule 1.1 of the draft determination."]
[]
[null,"The model applies the price path methodologies set out in the Electricity Distributionj Input Methodologies (EDB IMs). It is derived from the model used in 2013 to calculate the CPP for Orion New Zealand Ltd, adjusted to include the applicable methodologies in subsequent EDB IM amendment determinations. The model calculates the starting price, and estimates the prices in each subsequent year of the regulatory period."]
[]
[null,"Entry cell C2 of the Inputs worksheet is used to switch the model between one of two scenarios.\n●  Scenario 1 reproduces Powerco's calculations of its proposed price path with the alternative WACC described in section 18.3.7 of \"Customised price-quality path (CPP) Main Proposal\", Powerco, 12 May 2017.\n●  Scenario 2 is the draft price path determined by the Commission."]

{"sheet":"Table of Contents","index":2,"n_rows":28,"n_cols":3,"rows_kept":28,"cut":false,"hidden":false,"merged":[]}
["Table of Contents"]
[]
[]
[null,"Sheet Name","Link"]
[null,"Inputs","CPP Inputs Module"]
[null,"RABx","Regulatory Asset Base (RAB) Module"]
[null,null,"Total Opening RAB value"]
[null,null,"RAB roll-forward without revaluations"]
[null,null,"TFVCA"]
[null,null,"RAB proportionate investment"]
[null,null,"Total revaluation "]
[null,null,"Total depreciation"]
[null,null,"Total opening RAB value without revaluations"]
[null,null,"Total adjusted depreciation"]
[null,"TAXx","Regulatory Tax Module"]
[null,null,"Forecast regulatory tax allowance"]
[null,null,"Regulatory profit / (loss) before tax"]
[null,null,"Permanent differences"]
[null,null,"Regulatory tax adjustments"]
[null,"DTAXx","Deferred Tax Module"]
[null,"BBARx","Building Blocks Allowable Revenue (BBAR) Module"]
[null,null,"Building Blocks Allowable Revenue Before Tax (BBAR Before Tax)"]
[null,null,"Building Blocks Allowable Revenue After Tax (BBAR After Tax)"]
[null,null,"Regulatory Investment Value"]
[null,"MARx","Maximum Allowable Revenue (MAR) Module"]
[null,null,"Maximum Allowable Revenue Before Tax (MAR Before Tax)"]
[null,null,"Maximum Allowable Revenue After Tax (MAR After Tax)"]
[null,"Output","CPP Outputs Module"]

{"sheet":"Inputs","index":3,"n_rows":65,"n_cols":12,"rows_kept":65,"cut":false,"hidden":false,"merged":[]}
["CPP Inputs Module"]
["Scenario (enter 1 or 2)",null,"Draft determination",{"$f":"IF(C2=\"Proposed\",1,IF(C2=\"Draft determination\",2,NA()))","v":2},"Note: To recalculate, click the 'MAR Goal Seek' macro button located on the MAR worksheet"]
[]
[null,null,null,"Assessment Period",null,"CPP Regulatory Period"]
["Ref.","Input Name","Discrete Input",{"$f":"E5-1","v":2017},{"$f":"$F$6-1","v":2018},{"$f":"$F$6","v":2019},{"$f":"F5+1","v":2020},{"$f":"G5+1","v":2021},{"$f":"IF($C$6>3,H5+1,\"\")","v":2022},{"$f":"IF($C$6>4,I5+1,\"\")","v":2023},"Description","Input source"]
["Input1","CPP regulatory period",5,null,null,2019,null,null,null,null,"The period of continuous disclosure years in respect of which the customised price-quality path applies, and which follows the assessment period. Input the number of years in the regulatory period and the first year in the regulatory period.","Commerce Commission decision."]
["Input2","Allowed controllable opex",null,null,null,null,null,null,null,null,"A series of values ($000) for the CPP regulatory period where a single value for a disclosure year represents the allowance for operating expenditure for that year in categories specified by the Commission as controllable by the supplier.","Not required in this model."]
["Input3","‘X’ factor",0,null,null,null,null,null,null,null,"A single value (percentage 3 d.p.) representing the rate of change allowed for the maximum allowable revenue path where the path is expressed in ‘CPI-X’ terms.","Commerce Commission decision."]
["Input4","Pass-through costs",null,null,null,0,0,0,0,0,"Future uncontrollable costs of the supplier which are to be treated as pass-through costs in each year of the CPP regulatory period in addition to those rates or levies already specified in cl. 3.1.2 of the EDB input methodologies.","Not required in this model."]
["Input5","Recoverable costs",null,null,null,0,0,0,0,0,"A series of values ($000) which are the nominal amounts of verifier fees, auditor’s costs or engineer fees associated with the CPP process that are treated as recoverable costs for each of the disclosure years of the CPP regulatory period.","Not required in this model."]
["Input6","Cost of capital",null,7.1900000000000006E-2,7.1900000000000006E-2,7.1900000000000006E-2,7.1900000000000006E-2,6.7799999999999999E-2,6.7799999999999999E-2,6.7799999999999999E-2,"Discount rate (calculated as the 75th percentile estimate of WACC published most recently by the Commission prior to the submission of the CPP proposal in respect of the CPP regulatory period).","For 2017– 2020: from \"Cost of capital determination for electricity distribution businesses' DPPs\", [2014] NZCC 28, 31 October 2014.  For 2021–2023: CPP applicant proposal."]
["Input7","Inflation rate",null,null,null,2.1069692058346856E-2,2.1528794788826966E-2,2.0972404712461312E-2,2.0276533232868932E-2,2.000000000000024E-2,"Series of values (percentage 3 d.p.) defined in cl. 3.3.1 of the EDB input methodologies.","For 2017– 2020: from EDB DPP reset determination [2014] NZCC33. For 2021–2023: CPP applicant proposal."]
["Input8","ΔQ",null,null,null,0,0,0,0,0,"A series of values (percentage 3 d.p.) for the CPP regulatory period where a single value for a disclosure year represents the forecast weighted average growth in quantities from the preceding disclosure year to the current disclosure year.","Not required in this model."]
["Input9","Claw-back",0,null,null,null,null,null,null,null,"A value ($000) representing the amount of shortfall (negative amount) or over-recovery (positive amount) of revenues relating to prices previously charged by the supplier to be recovered or returned from consumers during the CPP regulatory period. It is expressed in present value terms as at the commencement of the CPP regulatory period.","Not required in this model."]
["Input10","Term Credit Spread Differential Allowance",null,{"$f":"CHOOSE($D$2,D16,D17)","v":1859.6674726388042},1949.4373433176227,2103.1560558259471,2283.154945078717,2432.5036093312824,2604.7329219585413,2798.0306605946275,"A series of values ($000) for the next period where a single value for a disclosure year relates to financing costs from long term debt."]
["Input10.1",null,null,1859.6674726388042,1949.4373433176227,2106.8738822584623,2297.8358306761165,2461.0254718818496,2645.1857845069208,2849.5087575378107,null,"CPP applicant data."]
["Input10.2",null,null,1859.6674726388042,1949.4373433176227,2103.1560558259471,2283.154945078717,2432.5036093312824,2604.7329219585413,2798.0306605946275,null,"Commerce Commission analysis."]
["Input11","TF",null,1.0352275669181401,1.0352275669181401,1.0352275669181401,1.0352275669181401,1.0332512300770342,1.0332512300770342,1.0332512300770342,"A series of values (3 d.p.) for the next period where a single value for a disclosure year represents the timing factor for cash flows, calculated as: (1 + cost of capital)182/365","Calculated from Input6."]
["Input12","TFrev",null,1.0285536205330978,1.0285536205330978,1.0285536205330978,1.0285536205330978,1.026956565439086,1.026956565439086,1.026956565439086,"A series of values (3 d.p.) for the next period where a single value for a disclosure year represents the timing factor for revenue cash flows, calculated as: (1 + cost of capital)148/365","Calculated from Input6."]
["Input13","Forecast operating expenditure",null,{"$f":"CHOOSE($D$2,D21,D22)","v":77513.912980030291},80778.807711446352,92072.659175853827,97311.471413802035,99333.943788883073,98112.797477771237,97793.023014836348,"A series of values ($000) for the next period where a single value for a disclosure year represents the EDB’s operating expenditure for that disclosure year expressed in nominal terms."]
["Input13.1",null,null,77513.912980030291,80778.807711446352,93297.964160733667,98919.418994311738,101339.89916381802,100528.78820220218,100257.44476786106,null,"CPP applicant data."]
["Input13.2",null,null,77513.912980030291,80778.807711446352,92072.659175853827,97311.471413802035,99333.943788883073,98112.797477771237,97793.023014836348,null,"Commerce Commission analysis."]
["Input14","Other regulated income",null,0,0,0,0,0,0,0,"No longer required following IM amendments [2016]NZCC24"]
["Input15","Corporate tax rate",null,0.28000000000000003,0.28000000000000003,0.28000000000000003,0.28000000000000003,0.28000000000000003,0.28000000000000003,0.28000000000000003,"A series of values (3 d.p.) for the next period where a single value for a disclosure year represents the rate of taxation applying to companies in that year.","Defined in EDB IMs."]
["Input16","Opening tax losses in the first year of the next period",null,0,null,null,null,null,null,null,"A value ($000) for the first year of the next period which represents the carry forward tax losses from prior years that the Commission is satisfied that an EDB has incurred.","CPP applicant data."]
["Input17","Positive permanent differences",null,133.389518955206,135.31631761943723,137.51837323570146,140.32599414643835,143.22046676427149,146.14198207211095,149.08976539018838,"A series of values ($000) for the next period where a single value for a disclosure year represents amounts of income which are permanently taxable but not included as regulatory profit / (loss) before tax, or amounts of expenditure which are permanently not tax deductible, in nominal terms for that year.","CPP applicant data."]
["Input18","Discretionary discounts and customer rebates",null,0,0,0,0,0,0,0,"A series of values ($000) for the next period where a single value for a disclosure year represents the sum of expenditure allowed as a tax deduction in respect of payments or credits given to persons by an EDB because of those person’s direct or indirect ownership in the EDB, in nominal terms for that year.","CPP applicant data."]
["Input19","Negative permanent differences",null,0,0,0,0,0,0,0,"A series of values ($000) for the next period where a single value for a disclosure year represents amounts of income which are permanently not taxable, or amounts of expenditure which are permanently tax deductible but not included as regulatory profit / (loss) before tax, in nominal terms for that year.","CPP applicant data."]
["Input20","Leverage",0.42,null,null,null,null,null,null,null,"A value (percentage 0 d.p.) representing the assumed ratio of debt capital to total capital of the supplier, specified in the input methodologies for all EDBs as 44%.","Specified by input methodologies."]
["Input21","Cost of debt",null,6.0900000000000003E-2,6.0900000000000003E-2,6.0900000000000003E-2,6.0900000000000003E-2,5.7000000000000002E-2,5.7000000000000002E-2,5.7000000000000002E-2,"A value (percentage 3 d.p.) representing the assumed cost of debt to the supplier for the next period, comprised of the risk free rate plus the debt premium.","Defined in EDB IMs."]
["Input22","Opening unamortised initial differences in asset values for most recent ID year",null,271614.54301280086,null,null,null,null,null,null,"A value ($000) which represents the amount of the opening unamortised initial differences in asset values for a supplier for the first disclosure year in the next period.","CPP applicant data."]
["Input23","Adjustment to opening unamortised initial differences in asset values for sold or acquired assets",null,-1823.7868825101275,-1741.3952077825504,-1660.0466023846427,-1579.7314213708119,-1500.4401594068327,-1422.1634570953977,-1344.8921086872633,"A series of values ($000) for the next period where a single value for a disclosure year represents the adjustment required to the opening unamortised initial differences in asset values to account for assets sold or acquired in that year calculated with effect from their date of sale or acquisition.","CPP applicant data."]
["Input24","Weighted average remaining useful life of relevant assets",null,26,25,24,23,22,21,20,"A series of values (2 d.p.) for the next period where a single value for a disclosure year represents the weighted average remaining useful life of all asset at the commencement of the year.","CPP applicant data."]
["Input25","Opening deferred tax for most recent ID year",null,-49319.42728444824,null,null,null,null,null,null,"A value ($000) which represents the amount of the opening deferred tax balance for a supplier for the first disclosure year of the next period.","CPP applicant data."]
["Input26","Tax depreciation",null,{"$f":"CHOOSE($D$2,D36,D37)","v":86116.09283984272},65402.580885808755,75326.748140480369,94860.597117586556,108117.71216278325,123871.3694732951,137838.04734225495,"A series of values ($000) for the next period where a single value for a disclosure year represents the sum of the amounts determined for all assets of the EDB of the tax depreciation rules to the regulatory tax asset value for each asset in that disclosure year."]
["Input26.1",null,null,86116.09283984272,65402.580885808755,75529.05375279508,95656.024922262121,109659.68791419589,126054.98324336865,140612.66367496058,null,"CPP applicant data."]
["Input26.2",null,null,86116.09283984272,65402.580885808755,75326.748140480369,94860.597117586556,108117.71216278325,123871.3694732951,137838.04734225495,null,"Commerce Commission analysis."]
["Input27","Positive temporary differences",null,1029.3006733109935,1040.6455416740002,1159.8646973059538,1313.9944492713989,1393.9499456398512,1437.8512279229635,1465.0326849154649,"A series of values ($000) for the next period where a single value for a disclosure year represents amounts of income which are temporarily taxable but not included as regulatory profit / (loss) before tax, or amounts of expenditure which are temporarily not tax deductible, in nominal terms for that year.","CPP applicant data."]
["Input28","Negative temporary differences",null,0,0,0,0,0,0,0,"A series of values ($000) for the next period where a single value for a disclosure year represents amounts of income which are temporarily not taxable, or amounts of expenditure which are temporarily tax deductible but not included as regulatory profit / (loss) before tax, in nominal terms for that year.","CPP applicant data."]
["Input29","Deferred tax balance relating to assets acquired in disclosure year",null,0,0,0,0,0,0,0,"A series of values ($000) for the next period where a single value for a disclosure year represents the sum of the adjustment required to the opening deferred tax balance to account for assets that have been acquired by an EDB from another regulated supplier, in nominal terms for that year.","CPP applicant data."]
["Input30","Cost allocation adjustment",null,0,0,0,0,0,0,0,"A series of values ($000) for the next period where a single value for a disclosure year represents the tax effect of the change in the opening deferred tax balance to account for the effect of changes in cost allocation on tax asset values, in nominal terms for that year.","CPP applicant data."]
["Input31","Opening or closing RAB values for ID years",null,1528013.01067536,null,null,null,null,null,null,"A series of values ($000) for the first year of the next period where a value for that disclosure year represents the opening regulatory asset value in nominal terms of all regulated assets held by a supplier for that disclosure year. Up to nine seperate classes of assets can be entered.","CPP applicant data."]
["Input32","Disposals",null,9381.322670455038,9476.7861803366341,10962.836632004495,12853.750141274671,13805.949448181686,14295.003992473552,14566.074836854827,"A series of values ($000) for the next period, where a single value represents the opening RAB value of the relevant asset category that are forecast to be disposed of in that year.","CPP applicant data."]
["Input33","Total value of commissioned assets",null,{"$f":"CHOOSE($D$2,D45,D46)","v":110925.62013017751},116022.14949761658,220283.9493767856,166853.98475312142,175576.69115506724,211734.9783027441,216264.75514559916,"A series of values ($000) for the next period where a single value for a disclosure year represents the actual or forecast cost of all assets to be acquired for that year."]
["Input33.1",null,null,110925.62013017751,116022.14949761658,226538.09574287751,179141.75440896503,186939.06500659377,221145.30010576107,226429.72338762428,null,"CPP applicant data."]
["Input33.2",null,null,110925.62013017751,116022.14949761658,220283.9493767856,166853.98475312142,175576.69115506724,211734.9783027441,216264.75514559916,null,"Commerce Commission analysis."]
["Input34","PVVCA",null,{"$f":"CHOOSE($D$2,D48,D49)","v":107140.76176538762},112063.39404949173,211165.79635289186,160965.71855551802,169413.42934682258,204060.08542069513,207465.909239053,"A series of values ($000) for the next period where a single value for a disclosure represents the sum of the present value of each item making up the Total Value of Commissioned Assets, where each present value is determined by discounting each closing RAB value by the cost of capital from its relevant commissioning date to the commencement of the disclosure year."]
["Input34.1",null,null,107140.76176538762,112063.39404949173,217206.54694837148,172834.2210690013,180409.16059050549,213166.75369394885,217302.87291851026,null,"CPP applicant data."]
["Input34.2",null,null,107140.76176538762,112063.39404949173,211165.79635289186,160965.71855551802,169413.42934682258,204060.08542069513,207465.909239053,null,"Commerce Commission analysis."]
["Input35","Revaluation rate",null,2.1138211382113914E-2,2.1669341894061001E-2,2.1112894596040599E-2,2.0556447298020419E-2,2.045611243701928E-2,2.022805621850976E-2,2.0000000000000018E-2,"Defined in cl. 5.3.10(4) of the EDB input methodologies. Uses latest Statistics New Zealand data and RBNZ forecasts prior to the date for which the vanilla WACC was determined.","For 2017– 2020: from : from DPP model http://www.comcom.govt.nz/dmsdocument/12739. For 2021–2023: CPP applicant proposal."]
["Input36","Remaining asset lives",null,{"$f":"CHOOSE($D$2,D52,D53)","v":24.969256919702254},25.722335148336438,26.031686475226692,27.01688147842982,27.002201113238741,27.00626233426895,27.47202988781325,"A series of values (2 d.p.) for the next period where a single value for a disclosure year represents the term remaining of an asset’s or group of asset’s physical asset life at the commencement of the disclosure year as specified by cl. 2.2.8 of the EDB input methodologies."]
["Input36.1",null,null,24.969256919702254,25.722335148336438,26.031686475226692,27.018104329413784,27.01633404426607,27.027041602115315,27.484572314654361,null,"CPP applicant data."]
["Input36.2",null,null,24.969256919702254,25.722335148336438,26.031686475226692,27.01688147842982,27.002201113238741,27.00626233426895,27.47202988781325,null,"Commerce Commission analysis."]
["Input37","Opening or closing RAB values for ID years without revaluations",null,1429342.5247058757,null,null,null,null,null,null,"As for Opening or closing RAB values for ID years (Input31) but is a series of values ($000) for the next period where a single value for a disclosure year represents the total depreciation amount for all assets for that year as if no indexed revaluation had ever been applied in respect of any asset.","CPP applicant data."]
["Input38","RAB proportionate investment",null,{"$f":"CHOOSE($D$2,D56,D57)","v":50772.148729861241},53272.681658639973,80169.54279110684,73974.384321316655,72915.807937514197,85043.620139465813,71701.624888733306,"A series of values ($000) for the next period where a single value for a disclosure year represents the proportion of the value of assets commissioned or disposed."]
["Input38.1",null,null,50772.148729861241,53272.681658639973,83296.615974152795,80118.269149238491,78596.994863277461,89748.781040974296,76784.109009745865,null,"CPP applicant data."]
["Input38.2",null,null,50772.148729861241,53272.681658639973,80169.54279110684,73974.384321316655,72915.807937514197,85043.620139465813,71701.624888733306,null,"Commerce Commission analysis."]
["Input39","Disposals without revaluations",null,8796.5632288666402,8886.0762783823193,10279.497783918079,12052.54630051988,12945.392832285566,13403.963480833494,13658.137855371504,"A series of values ($000) for the next period, where a single value for an asset or aggregated asset group for a disclosure year represents the opening RAB value of those assets that are disposed of in that year. The value is calculated such that it does not include any revaluation amount which has been added to the RAB since the initial RAB date (31 March 2009).","CPP applicant data."]
["Input40","Fully depreciated assets",null,{"$f":"CHOOSE($D$2,D60,D61)","v":6325.2853576029993},4946.5999330745608,7030.1337730098076,11626.830333464077,14804.114747118765,15103.628639063911,19002.199749712214,"A series of values ($000) for the next period where a single value for an asset or aggregated asset group for a disclosure year represents the opening RAB value of those assets that are fully depreciated in that year."]
["Input40.1",null,null,6325.2853576029993,4946.5999330745608,7030.1337730098076,11626.830333464077,14804.114747118765,15103.628639063911,19002.199749712214,null,"CPP applicant data."]
["Input40.2",null,null,6325.2853576029993,4946.5999330745608,7030.1337730098076,11626.830333464077,14804.114747118765,15103.628639063911,19002.199749712214,null,"Commerce Commission analysis."]
["Input41","Weighted average remaining life of assets based on RAB excluding revaluations",null,{"$f":"CHOOSE($D$2,D63,D64)","v":25.033500021391959},25.953951515564523,26.387588695035298,27.491794899572,27.563112121167492,27.64800854475595,28.237423533535839,"A series of values (2 d.p.) for the next period where a single value for a disclosure year represents the term remaining of an asset’s or group of asset’s weighted average physical asset life at the commencement of the disclosure year with weightings based on opening RAB excluding revaluations. "]
["Input41",null,null,25.033500021391959,25.953951515564523,26.387588695035298,27.491402326838415,27.573764641498197,27.6625136723212,28.238384848880671,null,"CPP applicant data."]
["Input41",null,null,25.033500021391959,25.953951515564523,26.387588695035298,27.491794899572,27.563112121167492,27.64800854475595,28.237423533535839,null,"Commerce Commission analysis."]
["Input42","Deferred tax balance relating to assets disposed of in disclosure year",null,-699.32930607124217,-706.44561924645495,-817.22302960295019,-958.18089649769172,-1029.1624525034349,-1065.6189509210526,-1085.8258867824916,"A series of values ($000) for the next period where a single value for a disclosure year represents the sum of the adjustment required to the opening deferred tax balance to account for assets that have been disposed of by an EDB from another regulated supplier, in nominal terms for that year. (IM amendments determination [2016]NZCC24)","CPP applicant data."]

{"sheet":"RABx","index":4,"n_rows":66,"n_cols":11,"rows_kept":66,"cut":false,"hidden":false,"merged":[]}
["Regulatory Asset Base (RAB) Module"]
[]
[]
[null,null,null,"Assessment Period",null,"CPP Regulatory Period"]
[null,null,null,{"$f":"Inputs!D5","v":2017},{"$f":"Inputs!E5","v":2018},{"$f":"Inputs!F5","v":2019},{"$f":"Inputs!G5","v":2020},{"$f":"Inputs!H5","v":2021},{"$f":"Inputs!I5","v":2022},{"$f":"Inputs!J5","v":2023},"Input reference"]
[]
["Total Opening RAB value"]
[]
["Opening RAB value",null,null,{"$f":"IF(D$5=Inputs!$D$5,Inputs!D$42,B14)","v":1528013.01067536},{"$f":"IF(E$5=Inputs!$D$5,Inputs!#REF!,D14)","v":1600328.9862576346},{"$f":"IF(F$5=Inputs!$D$5,Inputs!#REF!,E14)","v":1679024.3396552145},{"$f":"IF(G$5=Inputs!$D$5,Inputs!#REF!,F14)","v":1858915.37932494},{"$f":"IF(H$5=Inputs!$D$5,Inputs!#REF!,G14)","v":1981819.3785186475},{"$f":"IF(I$5=Inputs!$D$5,Inputs!#REF!,H14)","v":2110150.4551872853},{"$f":"IF(J$5=Inputs!$D$5,Inputs!#REF!,I14)","v":2271544.3964167293},"Σ(INPUT31) | CALC"]
["less Depreciation",null,null,{"$f":"D52","v":61195.774291130998},62215.540580931047,64499.253294751936,68805.697682358019,73394.734385079209,78135.59792425108,82685.713640126734,"Σ(RAB)"]
["less Disposals",null,null,{"$f":"Inputs!D$43","v":9381.322670455038},{"$f":"Inputs!E$43","v":9476.7861803366341},{"$f":"Inputs!F$43","v":10962.836632004495},{"$f":"Inputs!G$43","v":12853.750141274671},{"$f":"Inputs!H$43","v":13805.949448181686},{"$f":"Inputs!I$43","v":14295.003992473552},{"$f":"Inputs!J$43","v":14566.074836854827},"Σ(INPUT32)"]
["add Revaluation",null,null,{"$f":"D46","v":31967.452413682942},34365.530661231169,35069.180219696471,37709.462264218855,39955.069346831719,42089.564843424319,44759.522436603285,"Σ(RAB)"]
["add Total value of commissioned assets",null,null,{"$f":"Inputs!D$44","v":110925.62013017751},{"$f":"Inputs!E$44","v":116022.14949761658},{"$f":"Inputs!F$44","v":220283.9493767856},{"$f":"Inputs!G$44","v":166853.98475312142},{"$f":"Inputs!H$44","v":175576.69115506724},{"$f":"Inputs!I$44","v":211734.9783027441},{"$f":"Inputs!J$44","v":216264.75514559916},"Σ(INPUT33)"]
["Closing RAB value",null,null,{"$f":"D9-D10-D11+D12+D13","v":1600328.9862576346},{"$f":"E9-E10-E11+E12+E13","v":1679024.3396552145},1858915.37932494,1981819.3785186475,2110150.4551872853,2271544.3964167293,2435316.8855219502,"CALC"]
[]
[]
["RAB roll-forward without revaluations"]
[]
["Opening RAB value without revaluations",null,null,{"$f":"D56","v":1429342.5247058757},1474374.3909033516,1524703.1455907943,1676926.5258166648,1770730.6182632123,1869119.1485531579,1999846.048397765,"Σ(INPUT37) | CALC"]
["less Adjusted depreciation",null,null,{"$f":"D66","v":57097.190703835062},56807.318531791694,57781.071366996861,60997.346006054031,64242.768032835949,67604.114977303761,70822.539670542959,"Σ(INPUT36) | CALC"]
["less Disposals without revaluations",null,null,{"$f":"D58","v":8796.5632288666402},8886.0762783823193,10279.497783918079,12052.54630051988,12945.392832285566,13403.963480833494,13658.137855371504,"Σ(INPUT32)"]
["add Total value of commissioned assets",null,null,110925.62013017751,116022.14949761658,220283.9493767856,166853.98475312142,175576.69115506724,211734.9783027441,216264.75514559916,"Σ(RAB)"]
["Closing RAB value without revaluations",null,null,{"$f":"D19-D20-D21+D22","v":1474374.3909033516},{"$f":"E19-E20-E21+E22","v":1524703.1455907943},1676926.5258166648,1770730.6182632123,1869119.1485531579,1999846.048397765,2131630.1260174499,"CALC"]
[null,null,null,{"$f":"D60-D23","v":0},{"$f":"E60+0-E23","v":0},0,0,0,0,0]
[]
["TFVCA"]
[]
["PVVCA",null,null,{"$f":"Inputs!D47","v":107140.76176538762},{"$f":"Inputs!E47","v":112063.39404949173},{"$f":"Inputs!F47","v":211165.79635289186},{"$f":"Inputs!G47","v":160965.71855551802},{"$f":"Inputs!H47","v":169413.42934682258},{"$f":"Inputs!I47","v":204060.08542069513},{"$f":"Inputs!J47","v":207465.909239053},"INPUT34"]
["multiply by (1 + Cost of capital)",null,null,{"$f":"1+Inputs!D11","v":1.0719000000000001},{"$f":"1+Inputs!E11","v":1.0719000000000001},{"$f":"1+Inputs!F11","v":1.0719000000000001},{"$f":"1+Inputs!G11","v":1.0719000000000001},{"$f":"1+Inputs!H11","v":1.0678000000000001},{"$f":"1+Inputs!I11","v":1.0678000000000001},{"$f":"1+Inputs!J11","v":1.0678000000000001},"INPUT6 | CALC"]
["divide by Total value of commissioned assets",null,null,{"$f":"D13","v":110925.62013017751},{"$f":"E13","v":116022.14949761658},220283.9493767856,166853.98475312142,175576.69115506724,211734.9783027441,216264.75514559916,"Σ(INPUT33)"]
["TFVCA",null,null,{"$f":"D28*D29/D30","v":1.035326035604244},{"$f":"E28*E29/E30","v":1.0353260356042431},1.0275311376568153,1.0340727191798877,1.0303170578420842,1.0290947719590569,1.0243559924330501,"CALC"]
[]
[]
["RAB proportionate investment"]
[]
["RAB proportionate investment",null,null,{"$f":"Inputs!D55","v":50772.148729861241},{"$f":"Inputs!E55","v":53272.681658639973},{"$f":"Inputs!F55","v":80169.54279110684},{"$f":"Inputs!G55","v":73974.384321316655},{"$f":"Inputs!H55","v":72915.807937514197},{"$f":"Inputs!I55","v":85043.620139465813},{"$f":"Inputs!J55","v":71701.624888733306},"INPUT38"]
[]
[]
["Total revaluation "]
[]
["Opening RAB value",null,null,{"$f":"D9","v":1528013.01067536},1600328.9862576346,1679024.3396552145,1858915.37932494,1981819.3785186475,2110150.4551872853,{"$f":"J9","v":2271544.3964167293},"RAB"]
["less Fully depreciated assets",null,null,{"$f":"Inputs!D$59","v":6325.2853576029993},{"$f":"Inputs!E$59","v":4946.5999330745608},{"$f":"Inputs!F$59","v":7030.1337730098076},{"$f":"Inputs!G$59","v":11626.830333464077},{"$f":"Inputs!H$59","v":14804.114747118765},{"$f":"Inputs!I$59","v":15103.628639063911},{"$f":"Inputs!J$59","v":19002.199749712214},"INPUT40"]
["less Disposals",null,null,{"$f":"Inputs!D$43","v":9381.322670455038},{"$f":"Inputs!E$43","v":9476.7861803366341},{"$f":"Inputs!F$43","v":10962.836632004495},{"$f":"Inputs!G$43","v":12853.750141274671},{"$f":"Inputs!H$43","v":13805.949448181686},{"$f":"Inputs!I$43","v":14295.003992473552},{"$f":"Inputs!J$43","v":14566.074836854827},"INPUT32"]
["Adjusted RAB value",null,null,{"$f":"D41-D42-D43","v":1512306.4026473018},1585905.6001442233,1661031.3692502002,1834434.7988502013,1953209.3143233471,2080751.822555748,2237976.1218301621,"CALC"]
["multiply by Revaluation rate",null,null,{"$f":"Inputs!D$50","v":2.1138211382113914E-2},{"$f":"Inputs!E$50","v":2.1669341894061001E-2},{"$f":"Inputs!F$50","v":2.1112894596040599E-2},{"$f":"Inputs!G$50","v":2.0556447298020419E-2},{"$f":"Inputs!H$50","v":2.045611243701928E-2},{"$f":"Inputs!I$50","v":2.022805621850976E-2},{"$f":"Inputs!J$50","v":2.0000000000000018E-2},"INPUT35"]
["Total Revaluation",null,null,{"$f":"D44*D45","v":31967.452413682942},{"$f":"E44*E45","v":34365.530661231169},35069.180219696471,37709.462264218855,39955.069346831719,42089.564843424319,44759.522436603285,"CALC | RAB"]
[]
["Total depreciation"]
[]
["Opening RAB value",null,null,{"$f":"D9","v":1528013.01067536},{"$f":"E9","v":1600328.9862576346},1679024.3396552145,1858915.37932494,1981819.3785186475,2110150.4551872853,2271544.3964167293,"RAB"]
["multiply by (1 / Remaining asset life)",null,null,{"$f":"IFERROR(1/Inputs!D$51,0)","v":4.0049249491719535E-2},{"$f":"IFERROR(1/Inputs!E$51,0)","v":3.887671917161354E-2},{"$f":"IFERROR(1/Inputs!F$51,0)","v":3.8414722033152167E-2},{"$f":"IFERROR(1/Inputs!G$51,0)","v":3.701389447181002E-2},{"$f":"IFERROR(1/Inputs!H$51,0)","v":3.7034017923439445E-2},{"$f":"IFERROR(1/Inputs!I$51,0)","v":3.7028448721357264E-2},{"$f":"IFERROR(1/Inputs!J$51,0)","v":3.6400659291784106E-2},"INPUT36 | CALC"]
["Total depreciation",null,null,{"$f":"IFERROR(D50*D51,0)","v":61195.774291130998},{"$f":"IFERROR(E50*E51,0)","v":62215.540580931047},64499.253294751936,68805.697682358019,73394.734385079209,78135.59792425108,82685.713640126734]
[]
["Total opening RAB value without revaluations"]
[]
["Opening RAB value without revaluations",null,null,{"$f":"IF(D$5=Inputs!$D$5,Inputs!$D$54,B60)","v":1429342.5247058757},{"$f":"IF(E$5=Inputs!$D$5,Inputs!$D$54,D60)","v":1474374.3909033516},{"$f":"IF(F$5=Inputs!$D$5,Inputs!$D$54,E60)","v":1524703.1455907943},{"$f":"IF(G$5=Inputs!$D$5,Inputs!$D$54,F60)","v":1676926.5258166648},{"$f":"IF(H$5=Inputs!$D$5,Inputs!$D$54,G60)","v":1770730.6182632123},{"$f":"IF(I$5=Inputs!$D$5,Inputs!$D$54,H60)","v":1869119.1485531579},{"$f":"IF(J$5=Inputs!$D$5,Inputs!$D$54,I60)","v":1999846.048397765},"INPUT37 | CALC"]
["less Adjusted depreciation",null,null,{"$f":"D66","v":57097.190703835062},{"$f":"E66","v":56807.318531791694},57781.071366996861,60997.346006054031,64242.768032835949,67604.114977303761,70822.539670542959,"RAB6"]
["less Disposals without revaluations",null,null,{"$f":"Inputs!D$58","v":8796.5632288666402},{"$f":"Inputs!E$58","v":8886.0762783823193},{"$f":"Inputs!F$58","v":10279.497783918079},{"$f":"Inputs!G$58","v":12052.54630051988},{"$f":"Inputs!H$58","v":12945.392832285566},{"$f":"Inputs!I$58","v":13403.963480833494},{"$f":"Inputs!J$58","v":13658.137855371504},"INPUT39"]
["add Total value of commissioned assets",null,null,{"$f":"D13","v":110925.62013017751},{"$f":"E13","v":116022.14949761658},220283.9493767856,166853.98475312142,175576.69115506724,211734.9783027441,216264.75514559916,"INPUT33"]
["Closing RAB value without revaluations",null,null,{"$f":"D56-D57-D58+D59","v":1474374.3909033516},{"$f":"E56-E57-E58+E59","v":1524703.1455907943},1676926.5258166648,1770730.6182632123,1869119.1485531579,1999846.048397765,2131630.1260174499,"CALC"]
[]
["Total adjusted depreciation"]
[]
["Opening RAB value",null,null,{"$f":"D56","v":1429342.5247058757},{"$f":"E56","v":1474374.3909033516},1524703.1455907943,1676926.5258166648,1770730.6182632123,1869119.1485531579,1999846.048397765,"INPUT37 | CALC"]
["multiply by (1 / Remaining asset life)",null,null,{"$f":"1/Inputs!D62","v":3.9946471693749049E-2},{"$f":"1/Inputs!E62","v":3.8529778380771901E-2},{"$f":"1/Inputs!F62","v":3.7896604026882733E-2},{"$f":"1/Inputs!G62","v":3.6374489321378149E-2},{"$f":"1/Inputs!H62","v":3.6280373406457081E-2},{"$f":"1/Inputs!I62","v":3.6168970303276038E-2},{"$f":"1/Inputs!J62","v":3.5413995855973261E-2},"INPUT41"]
["Total depreciation",null,null,{"$f":"IFERROR(D64*D65,0)","v":57097.190703835062},{"$f":"IFERROR(E64*E65,0)","v":56807.318531791694},57781.071366996861,60997.346006054031,64242.768032835949,67604.114977303761,70822.539670542959]

{"sheet":"TAXx","index":5,"n_rows":77,"n_cols":11,"rows_kept":77,"cut":false,"hidden":false,"merged":[]}
["Regulatory Tax Module"]
[]
[]
[null,null,null,"Assessment Period",null,"CPP Regulatory Period"]
[null,null,null,{"$f":"Inputs!D5","v":2017},{"$f":"Inputs!E5","v":2018},{"$f":"Inputs!F5","v":2019},{"$f":"Inputs!G5","v":2020},{"$f":"Inputs!H5","v":2021},{"$f":"Inputs!I5","v":2022},{"$f":"Inputs!J5","v":2023},"Input reference"]
[]
["Forecast regulatory tax allowance"]
[]
["Regulatory taxable income",null,null,{"$f":"D20","v":71457.389210229216},{"$f":"E20","v":74268.440179520665},81351.124722041612,89452.087659035315,88497.809721349942,94661.930246193631,100314.0469443457,"TAX"]
["less Utilised tax losses",null,null,{"$f":"D33","v":0},{"$f":"E33","v":0},0,0,0,0,0,"TAX"]
["Adjusted regulatory taxable income (nil if <0)",null,null,{"$f":"MAX(D9-D10,0)","v":71457.389210229216},{"$f":"MAX(E9-E10,0)","v":74268.440179520665},81351.124722041612,89452.087659035315,88497.809721349942,94661.930246193631,100314.0469443457,"CALC"]
["multiply by Corporate tax rate",null,null,{"$f":"D74","v":0.28000000000000003},{"$f":"E74","v":0.28000000000000003},0.28000000000000003,0.28000000000000003,0.28000000000000003,0.28000000000000003,0.28000000000000003,"TAX"]
["Forecast regulatory tax allowance",null,null,{"$f":"D11*D12","v":20008.068978864183},{"$f":"E11*E12","v":20795.163250265789},22778.314922171652,25046.584544529891,24779.386721977986,26505.340468934221,28087.933144416798,"CALC"]
[]
["Regulatory taxable income"]
[]
["Regulatory profit/(loss) before tax",null,null,{"$f":"D27","v":96565.442686735245},{"$f":"E27","v":99833.063593744606},108340.44109619291,119743.4831204381,117362.3028463542,125334.3852961665,132960.02659166901,"TAX"]
["add permanent differences",null,null,{"$f":"D41","v":133.389518955206},{"$f":"E41","v":135.31631761943723},137.51837323570146,140.32599414643835,143.22046676427149,146.14198207211095,149.08976539018838,"TAX"]
["add regulatory tax adjustments",null,null,{"$f":"D63","v":-25241.44299546125},{"$f":"E63","v":-25699.939731843384},-27126.834747386994,-30431.721455549232,-29007.71359176853,-30818.597032044971,-32795.069412713485,"TAX"]
["Regulatory taxable income",null,null,{"$f":"SUM(D17:D19)","v":71457.389210229216},{"$f":"SUM(E17:E19)","v":74268.440179520665},81351.124722041612,89452.087659035315,88497.809721349942,94661.930246193631,100314.0469443457,"CALC"]
[]
["Regulatory profit / (loss) before tax"]
[]
["Building blocks allowable revenue before tax",null,null,{"$f":"BBARx!D33","v":235275.12995789654},{"$f":"BBARx!E33","v":242827.41188612202},{"$f":"BBARx!F33","v":264912.35356679867},{"$f":"BBARx!G33","v":285860.65221659816},{"$f":"BBARx!H33","v":290090.98102031648},{"$f":"BBARx!I33","v":301582.78069818881},{"$f":"BBARx!J33","v":313438.76324663212},"BBAR"]
["less Forecast operating expenditure",null,null,{"$f":"Inputs!D20","v":77513.912980030291},{"$f":"Inputs!E20","v":80778.807711446352},{"$f":"Inputs!F20","v":92072.659175853827},{"$f":"Inputs!G20","v":97311.471413802035},{"$f":"Inputs!H20","v":99333.943788883073},{"$f":"Inputs!I20","v":98112.797477771237},{"$f":"Inputs!J20","v":97793.023014836348},"INPUT13"]
["less Total depreciation",null,null,{"$f":"RABx!D10","v":61195.774291130998},{"$f":"RABx!E10","v":62215.540580931047},{"$f":"RABx!F10","v":64499.253294751936},{"$f":"RABx!G10","v":68805.697682358019},{"$f":"RABx!H10","v":73394.734385079209},{"$f":"RABx!I10","v":78135.59792425108},{"$f":"RABx!J10","v":82685.713640126734},"RAB"]
["Regulatory profit/(loss) before tax",null,null,{"$f":"D24-D25-D26","v":96565.442686735245},{"$f":"E24-E25-E26","v":99833.063593744606},108340.44109619291,119743.4831204381,117362.3028463542,125334.3852961665,132960.02659166901,"CALC"]
[]
["Utilised tax losses"]
[]
["Opening tax losses",null,null,{"$f":"IF(D5=Inputs!$D$5,Inputs!$D$25,B34)","v":0},{"$f":"IF(E5=Inputs!$D$5,Inputs!$D$25,D34)","v":0},{"$f":"IF(F5=Inputs!$D$5,Inputs!$D$25,E34)","v":0},{"$f":"IF(G5=Inputs!$D$5,Inputs!$D$25,F34)","v":0},{"$f":"IF(H5=Inputs!$D$5,Inputs!$D$25,G34)","v":0},{"$f":"IF(I5=Inputs!$D$5,Inputs!$D$25,H34)","v":0},{"$f":"IF(J5=Inputs!$D$5,Inputs!$D$25,I34)","v":0},"INPUT16 | CALC"]
["add Regulatory taxable income losses",null,null,{"$f":"-MIN(D27,0)","v":0},0,0,0,0,0,0,"TAX"]
["less Utilised tax losses",null,null,{"$f":"MIN(D31,MAX(D27,0))","v":0},{"$f":"MIN(E31,MAX(E27,0))","v":0},0,0,0,0,0,"TAX"]
["Closing tax losses",null,null,{"$f":"D31+D32-D33","v":0},{"$f":"E31+E32-E33","v":0},0,0,0,0,0,"CALC"]
[]
["Permanent differences"]
[]
["Positive permanent differences",null,null,{"$f":"Inputs!D26","v":133.389518955206},{"$f":"Inputs!E26","v":135.31631761943723},{"$f":"Inputs!F26","v":137.51837323570146},{"$f":"Inputs!G26","v":140.32599414643835},{"$f":"Inputs!H26","v":143.22046676427149},{"$f":"Inputs!I26","v":146.14198207211095},{"$f":"Inputs!J26","v":149.08976539018838},"INPUT17"]
["less Discretionary discounts and customer rebates",null,null,{"$f":"Inputs!D27","v":0},{"$f":"Inputs!E27","v":0},{"$f":"Inputs!F27","v":0},{"$f":"Inputs!G27","v":0},{"$f":"Inputs!H27","v":0},{"$f":"Inputs!I27","v":0},{"$f":"Inputs!J27","v":0},"INPUT18"]
["less Negative permanent differences",null,null,{"$f":"Inputs!D28","v":0},{"$f":"Inputs!E28","v":0},{"$f":"Inputs!F28","v":0},{"$f":"Inputs!G28","v":0},{"$f":"Inputs!H28","v":0},{"$f":"Inputs!I28","v":0},{"$f":"Inputs!J28","v":0},"INPUT19"]
["Permanent Differences",null,null,{"$f":"D38-D39-D40","v":133.389518955206},{"$f":"E38-E39-E40","v":135.31631761943723},137.51837323570146,140.32599414643835,143.22046676427149,146.14198207211095,149.08976539018838,"CALC"]
[]
["Regulatory tax adjustments"]
[]
["Amortisation of initial differences in asset values",null,null,{"$f":"D68","v":10446.713192800033},{"$f":"E68","v":10373.761717499629},10301.203583842022,10229.027644607906,10157.221670909234,10085.772139508908,10014.663966654138,"TAX"]
["add:"]
["Amortisation of revaluations"]
["Total depreciation",null,null,{"$f":"RABx!D10","v":61195.774291130998},{"$f":"RABx!E10","v":62215.540580931047},{"$f":"RABx!F10","v":64499.253294751936},{"$f":"RABx!G10","v":68805.697682358019},{"$f":"RABx!H10","v":73394.734385079209},{"$f":"RABx!I10","v":78135.59792425108},{"$f":"RABx!J10","v":82685.713640126734},"RAB"]
["less Adjusted Depreciation",null,null,{"$f":"RABx!D20","v":57097.190703835062},{"$f":"RABx!E20","v":56807.318531791694},{"$f":"RABx!F20","v":57781.071366996861},{"$f":"RABx!G20","v":60997.346006054031},{"$f":"RABx!H20","v":64242.768032835949},{"$f":"RABx!I20","v":67604.114977303761},{"$f":"RABx!J20","v":70822.539670542959},"RAB"]
["Amortisation of revaluations",null,null,{"$f":"D48-D49","v":4098.583587295936},{"$f":"E48-E49","v":5408.2220491393527},6718.1819277550749,7808.3516763039879,9151.9663522432602,10531.482946947319,11863.173969583775,"CALC"]
["less:"]
["Notional deductible interest"]
["regulatory investment value",null,null,{"$f":"BBARx!D45","v":1478693.5833909118},{"$f":"BBARx!E45","v":1540946.7201757184},{"$f":"BBARx!F45","v":1615328.5732041888},{"$f":"BBARx!G45","v":1788564.4715187119},{"$f":"BBARx!H45","v":1900448.7320029938},{"$f":"BBARx!I45","v":2015070.2706846744},{"$f":"BBARx!J45","v":2159353.5817509177},"BBAR"]
["add RAB proportionate investment",null,null,{"$f":"RABx!D36","v":50772.148729861241},{"$f":"RABx!E36","v":53272.681658639973},{"$f":"RABx!F36","v":80169.54279110684},{"$f":"RABx!G36","v":73974.384321316655},{"$f":"RABx!H36","v":72915.807937514197},{"$f":"RABx!I36","v":85043.620139465813},{"$f":"RABx!J36","v":71701.624888733306},"RAB"]
["Asset Base",null,null,{"$f":"D53+D54","v":1529465.7321207731},{"$f":"E53+E54","v":1594219.4018343585},1695498.1159952956,1862538.8558400285,1973364.5399405081,2100113.89082414,2231055.2066396512,"CALC"]
["multiply by Company Debt leverage",null,null,{"$f":"Inputs!$C$29","v":0.42},{"$f":"Inputs!$C$29","v":0.42},{"$f":"Inputs!$C$29","v":0.42},{"$f":"Inputs!$C$29","v":0.42},{"$f":"Inputs!$C$29","v":0.42},{"$f":"Inputs!$C$29","v":0.42},{"$f":"Inputs!$C$29","v":0.42},"INPUT20"]
["Proportion of Asset base funded by Debt",null,null,{"$f":"D55*D56","v":642375.60749072465},{"$f":"E55*E56","v":669572.14877043047},712109.20871802408,782266.31945281196,828813.10677501338,882047.83414613875,937043.18678865349,"CALC"]
["multiply by cost of debt",null,null,{"$f":"Inputs!D30","v":6.0900000000000003E-2},{"$f":"Inputs!E30","v":6.0900000000000003E-2},{"$f":"Inputs!F30","v":6.0900000000000003E-2},{"$f":"Inputs!G30","v":6.0900000000000003E-2},{"$f":"Inputs!H30","v":5.7000000000000002E-2},{"$f":"Inputs!I30","v":5.7000000000000002E-2},{"$f":"Inputs!J30","v":5.7000000000000002E-2},"INPUT21"]
["Notional interest",null,null,{"$f":"D57*D58","v":39120.674496185136},{"$f":"E57*E58","v":40776.943860119216},43367.450810927665,47640.018854676251,47242.347086175767,50276.726546329912,53411.461646953248,"CALC"]
["add term credit spread differential",null,null,{"$f":"Inputs!D15","v":1859.6674726388042},{"$f":"Inputs!E15","v":1949.4373433176227},{"$f":"Inputs!F15","v":2103.1560558259471},{"$f":"Inputs!G15","v":2283.154945078717},{"$f":"Inputs!H15","v":2432.5036093312824},{"$f":"Inputs!I15","v":2604.7329219585413},{"$f":"Inputs!J15","v":2798.0306605946275},"INPUT10"]
["Notional deductible interest",null,null,{"$f":"(D59+D60)/(SQRT(1+Inputs!D30))","v":39786.739775557216},{"$f":"(E59+E60)/(SQRT(1+Inputs!E30))","v":41481.923498482363},{"$f":"(F59+F60)/(SQRT(1+Inputs!F30))","v":44146.220258984089},{"$f":"(G59+G60)/(SQRT(1+Inputs!G30))","v":48469.100776461128},{"$f":"(H59+H60)/(SQRT(1+Inputs!H30))","v":48316.901614921022},{"$f":"(I59+I60)/(SQRT(1+Inputs!I30))","v":51435.8521185012},{"$f":"(J59+J60)/(SQRT(1+Inputs!J30))","v":54672.907348951398},"CALC ¹"]
[]
["Regulatory tax adjustments",null,null,{"$f":"D45+D50-D61","v":-25241.44299546125},{"$f":"E45+E50-E61","v":-25699.939731843384},-27126.834747386994,-30431.721455549232,-29007.71359176853,-30818.597032044971,-32795.069412713485]
[]
["Amortisation of initial differences in asset values"]
[]
["Opening unamortised initial difference in asset values",null,null,{"$f":"IF(D5=Inputs!$D$5,Inputs!$D$31,B70)","v":271614.54301280086},{"$f":"IF(E5=Inputs!$D$5,Inputs!$D$31,D70)","v":259344.04293749071},{"$f":"IF(F5=Inputs!$D$5,Inputs!$D$31,E70)","v":247228.88601220853},{"$f":"IF(G5=Inputs!$D$5,Inputs!$D$31,F70)","v":235267.63582598185},{"$f":"IF(H5=Inputs!$D$5,Inputs!$D$31,G70)","v":223458.87676000313},{"$f":"IF(I5=Inputs!$D$5,Inputs!$D$31,H70)","v":211801.21492968706},{"$f":"IF(J5=Inputs!$D$5,Inputs!$D$31,I70)","v":200293.27933308276},"INPUT22 | CALC"]
["less Amortisation based on weighted average remaining useful life of relevant assets",null,null,{"$f":"D67/Inputs!D33","v":10446.713192800033},{"$f":"E67/Inputs!E33","v":10373.761717499629},{"$f":"F67/Inputs!F33","v":10301.203583842022},{"$f":"G67/Inputs!G33","v":10229.027644607906},{"$f":"H67/Inputs!H33","v":10157.221670909234},{"$f":"I67/Inputs!I33","v":10085.772139508908},{"$f":"J67/Inputs!J33","v":10014.663966654138},"INPUT24 | CALC"]
["add Adjustment to opening unamortised initial differences in asset values for sold or acquired assets",null,null,{"$f":"Inputs!D32","v":-1823.7868825101275},{"$f":"Inputs!E32","v":-1741.3952077825504},{"$f":"Inputs!F32","v":-1660.0466023846427},{"$f":"Inputs!G32","v":-1579.7314213708119},{"$f":"Inputs!H32","v":-1500.4401594068327},{"$f":"Inputs!I32","v":-1422.1634570953977},{"$f":"Inputs!J32","v":-1344.8921086872633},"INPUT23"]
["Closing unamortised initial difference in asset values",null,null,{"$f":"D67-D68+D69","v":259344.04293749071},{"$f":"E67-E68+E69","v":247228.88601220853},235267.63582598185,223458.87676000313,211801.21492968706,200293.27933308276,188933.72325774137,"CALC "]
[]
["Corporate tax rate"]
[]
["Corporate Tax Rate",null,null,{"$f":"Inputs!D24","v":0.28000000000000003},{"$f":"Inputs!E24","v":0.28000000000000003},{"$f":"Inputs!F24","v":0.28000000000000003},{"$f":"Inputs!G24","v":0.28000000000000003},{"$f":"Inputs!H24","v":0.28000000000000003},{"$f":"Inputs!I24","v":0.28000000000000003},{"$f":"Inputs!J24","v":0.28000000000000003},"INPUT15"]
[]
["Notes:"]
["¹   Incorporates IM amendment [2014] NZCC 31 IM clause 5.3.16(2) definition of 'Notional deductible interest'."]

{"sheet":"DTAXx","index":6,"n_rows":26,"n_cols":11,"rows_kept":26,"cut":false,"hidden":false,"merged":[]}
["Deferred Tax Module"]
[]
[]
[null,null,null,"Assessment Period",null,"CPP Regulatory Period"]
[null,null,null,{"$f":"Inputs!D5","v":2017},{"$f":"Inputs!E5","v":2018},{"$f":"Inputs!F5","v":2019},{"$f":"Inputs!G5","v":2020},{"$f":"Inputs!H5","v":2021},{"$f":"Inputs!I5","v":2022},{"$f":"Inputs!J5","v":2023},"Input reference"]
[]
["Opening Deferred Tax",null,null,{"$f":"IF(D5=Inputs!$D$5,Inputs!$D$34,B23)","v":-49319.42728444824},{"$f":"IF(E5=Inputs!$D$5,Inputs!$D$34,D23)","v":-59382.266081916074},{"$f":"IF(F5=Inputs!$D$5,Inputs!$D$34,E23)","v":-63695.766451025571},{"$f":"IF(G5=Inputs!$D$5,Inputs!$D$34,F23)","v":-70350.907806228104},{"$f":"IF(H5=Inputs!$D$5,Inputs!$D$34,G23)","v":-81370.646515653731},{"$f":"IF(I5=Inputs!$D$5,Inputs!$D$34,H23)","v":-95080.18450261098},{"$f":"IF(J5=Inputs!$D$5,Inputs!$D$34,I23)","v":-112190.81466581157},"INPUT25 | CALC"]
[]
["Less:"]
["tax effect of amortisation of initial difference in asset values",null,null,{"$f":"TAXx!D68*TAXx!D74","v":2925.0796939840093},{"$f":"TAXx!E68*TAXx!E74","v":2904.6532808998963},{"$f":"TAXx!F68*TAXx!F74","v":2884.3370034757663},{"$f":"TAXx!G68*TAXx!G74","v":2864.1277404902139},{"$f":"TAXx!H68*TAXx!H74","v":2844.0220678545857},{"$f":"TAXx!I68*TAXx!I74","v":2824.0161990624947},{"$f":"TAXx!J68*TAXx!J74","v":2804.1059106631587},"TAX | CALC"]
["Deferred tax balance relating to assets disposed of in the disclosure year in question",null,null,{"$f":"Inputs!D65","v":-699.32930607124217},{"$f":"Inputs!E65","v":-706.44561924645495},{"$f":"Inputs!F65","v":-817.22302960295019},{"$f":"Inputs!G65","v":-958.18089649769172},{"$f":"Inputs!H65","v":-1029.1624525034349},{"$f":"Inputs!I65","v":-1065.6189509210526},{"$f":"Inputs!J65","v":-1085.8258867824916},"INPUT42 ¹"]
["Add:"]
["Tax Effect of Temporary Differences"]
["Adjusted Depreciation",null,null,{"$f":"RABx!D20*TAXx!D74","v":15987.21339707382},{"$f":"RABx!E20*TAXx!E74","v":15906.049188901676},{"$f":"RABx!F20*TAXx!F74","v":16178.699982759123},{"$f":"RABx!G20*TAXx!G74","v":17079.256881695132},{"$f":"RABx!H20*TAXx!H74","v":17987.975049194069},{"$f":"RABx!I20*TAXx!I74","v":18929.152193645055},{"$f":"RABx!J20*TAXx!J74","v":19830.31110775203},"RAB, TAX | CALC"]
["less Tax depreciation",null,null,{"$f":"Inputs!D35*TAXx!D74","v":24112.505995155963},{"$f":"Inputs!E35*TAXx!E74","v":18312.722648026454},{"$f":"Inputs!F35*TAXx!F74","v":21091.489479334505},{"$f":"Inputs!G35*TAXx!G74","v":26560.967192924239},{"$f":"Inputs!H35*TAXx!H74","v":30272.959405579313},{"$f":"Inputs!I35*TAXx!I74","v":34683.983452522632},{"$f":"Inputs!J35*TAXx!J74","v":38594.653255831392},"INPUT26, TAX | CALC"]
["Tax effect of Depreciation temporary differences",null,null,{"$f":"D14-D15","v":-8125.2925980821437},{"$f":"E14-E15","v":-2406.6734591247787},-4912.7894965753821,-9481.7103112291079,-12284.984356385245,-15754.831258877577,-18764.342148079362,"CALC"]
["Tax effect of positive temporary differences",null,null,{"$f":"Inputs!D38*TAXx!D74","v":288.2041885270782},{"$f":"Inputs!E38*TAXx!E74","v":291.38075166872011},{"$f":"Inputs!F38*TAXx!F74","v":324.76211524566708},{"$f":"Inputs!G38*TAXx!G74","v":367.91844579599172},{"$f":"Inputs!H38*TAXx!H74","v":390.30598477915839},{"$f":"Inputs!I38*TAXx!I74","v":402.59834381842984},{"$f":"Inputs!J38*TAXx!J74","v":410.2091517763302},"INPUT27, TAX | CALC"]
["less Tax effect of negative temporary differences",null,null,{"$f":"-Inputs!D39*TAXx!D74","v":0},{"$f":"-Inputs!E39*TAXx!E74","v":0},{"$f":"-Inputs!F39*TAXx!F74","v":0},{"$f":"-Inputs!G39*TAXx!G74","v":0},{"$f":"-Inputs!H39*TAXx!H74","v":0},{"$f":"-Inputs!I39*TAXx!I74","v":0},{"$f":"-Inputs!J39*TAXx!J74","v":0},"INPUT28, TAX | CALC"]
["tax effect of temporary differences",null,null,{"$f":"SUM(D16:D18)","v":-7837.0884095550655},{"$f":"SUM(E16:E18)","v":-2115.2927074560585},-4588.0273813297154,-9113.791865433117,-11894.678371606085,-15352.232915059147,-18354.132996303033,"CALC"]
["deferred tax balance relating to assets acquired in the disclosure year in question",null,null,{"$f":"Inputs!D40","v":0},{"$f":"Inputs!E40","v":0},{"$f":"Inputs!F40","v":0},{"$f":"Inputs!G40","v":0},{"$f":"Inputs!H40","v":0},{"$f":"Inputs!I40","v":0},{"$f":"Inputs!J40","v":0},"INPUT29"]
["cost allocation adjustment",null,null,{"$f":"Inputs!D41","v":0},{"$f":"Inputs!E41","v":0},{"$f":"Inputs!F41","v":0},{"$f":"Inputs!G41","v":0},{"$f":"Inputs!H41","v":0},{"$f":"Inputs!I41","v":0},{"$f":"Inputs!J41","v":0},"INPUT30"]
[]
["Closing Deferred Tax",null,null,{"$f":"D7-D10-D11+SUM(D19:D22)","v":-59382.266081916074},-63695.766451025571,-70350.907806228104,-81370.646515653731,-95080.18450261098,-112190.81466581157,{"$f":"J7-J10-J11+SUM(J19:J22)","v":-132263.22768599528},"CALC"]
[]
["Notes:"]
["¹   Incorporates IM amendment [2016] NZCC 24 IM clause 5.3.19(2) definition of 'Closing Deferred Tax'."]

{"sheet":"BBARx","index":7,"n_rows":45,"n_cols":11,"rows_kept":45,"cut":false,"hidden":false,"merged":[]}
["Building Blocks Allowable Revenue (BBAR) Module"]
[]
[]
[null,null,null,"Assessment Period",null,"CPP Regulatory Period"]
[null,null,null,{"$f":"Inputs!D5","v":2017},{"$f":"Inputs!E5","v":2018},{"$f":"Inputs!F5","v":2019},{"$f":"Inputs!G5","v":2020},{"$f":"Inputs!H5","v":2021},{"$f":"Inputs!I5","v":2022},{"$f":"Inputs!J5","v":2023},"Input reference"]
[]
["Building Blocks Allowable Revenue Before Tax (BBAR Before Tax)"]
[]
["Calculation A"]
["Regulatory investment value x Cost of capital",null,null,{"$f":"D45*Inputs!D11","v":106318.06864580656},{"$f":"E45*Inputs!E11","v":110794.06918063416},{"$f":"F45*Inputs!F11","v":116142.12441338119},{"$f":"G45*Inputs!G11","v":128597.78550219539},{"$f":"H45*Inputs!H11","v":128850.42402980298},{"$f":"I45*Inputs!I11","v":136621.76435242093},{"$f":"J45*Inputs!J11","v":146404.17284271223},"BBAR, INPUT6 | CALC"]
["add (Total value of commissioned assets x (TFVCA - 1))",null,null,{"$f":"RABx!D13*(RABx!D31-1)","v":3918.5624061414919},{"$f":"RABx!E13*(RABx!E31-1)","v":4098.6025840336169},{"$f":"RABx!F13*(RABx!F31-1)","v":6064.6677338792069},{"$f":"RABx!G13*(RABx!G31-1)","v":5685.1689665383774},{"$f":"RABx!H13*(RABx!H31-1)","v":5322.9687014699202},{"$f":"RABx!I13*(RABx!I31-1)","v":6160.38090947419},{"$f":"RABx!J13*(RABx!J31-1)","v":5267.3427398616432},"RAB | CALC"]
["add (Term credit spread differential allowance x TF)",null,null,{"$f":"Inputs!D15*Inputs!D18","v":1925.1790329766761},{"$f":"Inputs!E15*Inputs!E18","v":2018.1112777820656},{"$f":"Inputs!F15*Inputs!F18","v":2177.2451265218474},{"$f":"Inputs!G15*Inputs!G18","v":2363.5849386909599},{"$f":"Inputs!H15*Inputs!H18","v":2513.387346508373},{"$f":"Inputs!I15*Inputs!I18","v":2691.3434956358105},{"$f":"Inputs!J15*Inputs!J18","v":2891.0686218526557},"INPUT10, INPUT11 | CALC"]
["less Total revaluation",null,null,{"$f":"RABx!D12","v":31967.452413682942},{"$f":"RABx!E12","v":34365.530661231169},{"$f":"RABx!F12","v":35069.180219696471},{"$f":"RABx!G12","v":37709.462264218855},{"$f":"RABx!H12","v":39955.069346831719},{"$f":"RABx!I12","v":42089.564843424319},{"$f":"RABx!J12","v":44759.522436603285},"RAB"]
[null,null,null,{"$f":"D10+D11+D12-D13","v":80194.357671241785},{"$f":"E10+E11+E12-E13","v":82545.252381218685},89314.857054085762,98937.077143205883,96731.710730949548,103383.92391410661,109803.06176782324,"CALC"]
["divide by TFrev - Corporate tax rate x TF",null,null,{"$f":"Inputs!D19-TAXx!D74*Inputs!D18","v":0.73868990179601857},{"$f":"Inputs!E19-TAXx!E74*Inputs!E18","v":0.73868990179601857},{"$f":"Inputs!F19-TAXx!F74*Inputs!F18","v":0.73868990179601857},{"$f":"Inputs!G19-TAXx!G74*Inputs!G18","v":0.73868990179601857},{"$f":"Inputs!H19-TAXx!H74*Inputs!H18","v":0.73764622101751631},{"$f":"Inputs!I19-TAXx!I74*Inputs!I18","v":0.73764622101751631},{"$f":"Inputs!J19-TAXx!J74*Inputs!J18","v":0.73764622101751631},"INPUT12, TAX, INPUT11 | CALC"]
["Subtotal A",null,null,{"$f":"D14/D15","v":108562.95378650866},111745.47287098652,120909.81186683275,133935.87336533851,131135.64195789804,140153.80404375668,148855.99443098865,"CALC"]
[]
["Calculation B"]
["add Total depreciation x (1 - Corporate tax rate x TF)",null,null,{"$f":"RABx!D10*(1-TAXx!D74*Inputs!D18)","v":43457.339584108813},{"$f":"RABx!E10*(1-TAXx!E74*Inputs!E18)","v":44181.51262490471},{"$f":"RABx!F10*(1-TAXx!F74*Inputs!F18)","v":45803.259878970326},{"$f":"RABx!G10*(1-TAXx!G74*Inputs!G18)","v":48861.422281850486},{"$f":"RABx!H10*(1-TAXx!H74*Inputs!H18)","v":52160.878501402323},{"$f":"RABx!I10*(1-TAXx!I74*Inputs!I18)","v":55530.161177200716},{"$f":"RABx!J10*(1-TAXx!J74*Inputs!J18)","v":58763.881348158386},"RAB, TAX, INPUT11 | CALC"]
["add Forecast operating expenditure x TF x (1 - Corporate tax rate)",null,null,{"$f":"Inputs!D20*Inputs!D18*(1-TAXx!D74)","v":57776.068466367266},{"$f":"Inputs!E20*Inputs!E18*(1-TAXx!E74)","v":60209.602967281608},{"$f":"Inputs!F20*Inputs!F18*(1-TAXx!F74)","v":68627.631555577667},{"$f":"Inputs!G20*Inputs!G18*(1-TAXx!G74)","v":72532.452805152774},{"$f":"Inputs!H20*Inputs!H18*(1-TAXx!H74)","v":73898.58211795181},{"$f":"Inputs!I20*Inputs!I18*(1-TAXx!I74)","v":72990.121449748374},{"$f":"Inputs!J20*Inputs!J18*(1-TAXx!J74)","v":72752.228152582582},"INPUT13, TAX, INPUT11 | CALC"]
["add (Closing deferred tax - Opening deferred tax) x (TF - 1)",null,null,{"$f":"(DTAXx!D23-DTAXx!D7)*(Inputs!D18-1)","v":-354.48932712425466},{"$f":"(DTAXx!E23-DTAXx!E7)*(Inputs!E18-1)","v":-151.95412290422686},{"$f":"(DTAXx!F23-DTAXx!F7)*(Inputs!F18-1)","v":-234.44443744007887},{"$f":"(DTAXx!G23-DTAXx!G7)*(Inputs!G18-1)","v":-388.19858280671014},{"$f":"(DTAXx!H23-DTAXx!H7)*(Inputs!H18-1)","v":-455.85900185415625},{"$f":"(DTAXx!I23-DTAXx!I7)*(Inputs!I18-1)","v":-568.94950031962469},{"$f":"(DTAXx!J23-DTAXx!J7)*(Inputs!J18-1)","v":-667.43242353538619},"DTAX, DTAX, INPUT11 | CALC"]
["Add"]
["Permanent differences",null,null,{"$f":"TAXx!D41","v":133.389518955206},{"$f":"TAXx!E41","v":135.31631761943723},{"$f":"TAXx!F41","v":137.51837323570146},{"$f":"TAXx!G41","v":140.32599414643835},{"$f":"TAXx!H41","v":143.22046676427149},{"$f":"TAXx!I41","v":146.14198207211095},{"$f":"TAXx!J41","v":149.08976539018838},"TAX"]
["add Regulatory tax adjustments",null,null,{"$f":"TAXx!D63","v":-25241.44299546125},{"$f":"TAXx!E63","v":-25699.939731843384},{"$f":"TAXx!F63","v":-27126.834747386994},{"$f":"TAXx!G63","v":-30431.721455549232},{"$f":"TAXx!H63","v":-29007.71359176853},{"$f":"TAXx!I63","v":-30818.597032044971},{"$f":"TAXx!J63","v":-32795.069412713485},"TAX"]
["less Utilised tax losses",null,null,{"$f":"TAXx!D31","v":0},{"$f":"TAXx!E31","v":0},{"$f":"TAXx!F31","v":0},{"$f":"TAXx!G31","v":0},{"$f":"TAXx!H31","v":0},{"$f":"TAXx!I31","v":0},{"$f":"TAXx!J31","v":0},"TAX"]
[null,null,null,{"$f":"D23+D24-D25","v":-25108.053476506044},{"$f":"E23+E24-E25","v":-25564.623414223948},-26989.316374151294,-30291.395461402793,-28864.493125004257,-30672.455049972861,-32645.979647323296,"CALC"]
["multiply by (Corporate tax rate x TF)",null,null,{"$f":"TAXx!D74*Inputs!D18","v":0.28986371873707928},{"$f":"TAXx!E74*Inputs!E18","v":0.28986371873707928},{"$f":"TAXx!F74*Inputs!F18","v":0.28986371873707928},{"$f":"TAXx!G74*Inputs!G18","v":0.28986371873707928},{"$f":"TAXx!H74*Inputs!H18","v":0.28931034442156961},{"$f":"TAXx!I74*Inputs!I18","v":0.28931034442156961},{"$f":"TAXx!J74*Inputs!J18","v":0.28931034442156961},"TAX, INPUT11 | CALC"]
[null,null,null,{"$f":"D26*D27","v":-7277.9137509494931},{"$f":"E26*E27","v":-7410.2568109599615},-7823.2236103830392,-8780.3765341776998,-8350.7964475490098,-8873.8585347627613,-9444.8196157466537,"CALC"]
["Subtotal",null,null,{"$f":"D28+D19+D20+D21","v":93601.004972402327},{"$f":"E28+E19+E20+E21","v":96828.904658322135},106373.22338672489,112225.29997001885,117252.80516995097,119077.4745918667,121403.85746145893,"CALC"]
["divide by (TFrev - Corporate tax rate x TF)",null,null,{"$f":"Inputs!D19-TAXx!D74*Inputs!D18","v":0.73868990179601857},{"$f":"Inputs!E19-TAXx!E74*Inputs!E18","v":0.73868990179601857},{"$f":"Inputs!F19-TAXx!F74*Inputs!F18","v":0.73868990179601857},{"$f":"Inputs!G19-TAXx!G74*Inputs!G18","v":0.73868990179601857},{"$f":"Inputs!H19-TAXx!H74*Inputs!H18","v":0.73764622101751631},{"$f":"Inputs!I19-TAXx!I74*Inputs!I18","v":0.73764622101751631},{"$f":"Inputs!J19-TAXx!J74*Inputs!J18","v":0.73764622101751631},"INPUT12, TAX, INPUT11 | CALC"]
["Subtotal B",null,null,{"$f":"D29/D30","v":126712.1761713879},131081.93901513549,144002.54169996592,151924.77885125967,158955.33906241844,161428.9766544321,164582.76881564347,"CALC"]
[]
["BBAR before tax (A+B)",null,null,{"$f":"D31+D16","v":235275.12995789654},242827.41188612202,264912.35356679867,285860.65221659816,290090.98102031648,301582.78069818881,313438.76324663212,"CALC"]
[]
["Building Blocks Allowable Revenue After Tax (BBAR After Tax)"]
[]
["BBAR before tax",null,null,{"$f":"D33","v":235275.12995789654},242827.41188612202,264912.35356679867,285860.65221659816,290090.98102031648,301582.78069818881,313438.76324663212,"BBAR"]
["less Forecast regulatory tax allowance",null,null,{"$f":"TAXx!D13","v":20008.068978864183},{"$f":"TAXx!E13","v":20795.163250265789},{"$f":"TAXx!F13","v":22778.314922171652},{"$f":"TAXx!G13","v":25046.584544529891},{"$f":"TAXx!H13","v":24779.386721977986},{"$f":"TAXx!I13","v":26505.340468934221},{"$f":"TAXx!J13","v":28087.933144416798},"TAX"]
["BBAR after tax",null,null,{"$f":"D37-D38","v":215267.06097903237},{"$f":"E37-E38","v":222032.24863585623},242134.03864462703,260814.06767206825,265311.59429833852,275077.4402292546,285350.83010221535,"CALC"]
[]
["Regulatory Investment Value"]
[]
["Total opening RAB value",null,null,{"$f":"RABx!D9","v":1528013.01067536},{"$f":"RABx!E9","v":1600328.9862576346},{"$f":"RABx!F9","v":1679024.3396552145},{"$f":"RABx!G9","v":1858915.37932494},{"$f":"RABx!H9","v":1981819.3785186475},{"$f":"RABx!I9","v":2110150.4551872853},{"$f":"RABx!J9","v":2271544.3964167293},"RAB"]
["add Opening deferred tax",null,null,{"$f":"DTAXx!D7","v":-49319.42728444824},{"$f":"DTAXx!E7","v":-59382.266081916074},{"$f":"DTAXx!F7","v":-63695.766451025571},{"$f":"DTAXx!G7","v":-70350.907806228104},{"$f":"DTAXx!H7","v":-81370.646515653731},{"$f":"DTAXx!I7","v":-95080.18450261098},{"$f":"DTAXx!J7","v":-112190.81466581157},"DTAX"]
["Regulatory investment value",null,null,{"$f":"D43+D44","v":1478693.5833909118},{"$f":"E43+E44","v":1540946.7201757184},1615328.5732041888,1788564.4715187119,1900448.7320029938,2015070.2706846744,2159353.5817509177,"CALC"]

{"sheet":"MARx","index":8,"n_rows":45,"n_cols":20,"rows_kept":45,"cut":false,"hidden":false,"merged":[]}
["Maximum Allowable Revenue (MAR) Module"]
[]
[]
[null,null,null,null,null,"CPP Regulatory Period"]
[null,null,null,null,null,{"$f":"Inputs!F5","v":2019},{"$f":"Inputs!G5","v":2020},{"$f":"Inputs!H5","v":2021},{"$f":"Inputs!I5","v":2022},{"$f":"Inputs!J5","v":2023},"Input reference"]
[]
["Maximum Allowable Revenue Before Tax (MAR Before Tax)"]
[]
["Prior year's MAR",null,null,null,null,null,{"$f":"F12","v":278558.7435040308},{"$f":"G12","v":284555.77752956259},{"$f":"H12","v":290523.59645918169},{"$f":"I12","v":296414.40781771886},"CALC"]
["multiply by (1 + ΔCPI)",null,null,null,null,null,{"$f":"1+Inputs!G12","v":1.021528794788827},{"$f":"1+Inputs!H12","v":1.0209724047124613},{"$f":"1+Inputs!I12","v":1.0202765332328689},{"$f":"1+Inputs!J12","v":1.0200000000000002},"INPUT7 | CALC"]
["multiply by (1 - X)",null,null,null,null,null,{"$f":"1-Inputs!$C$8","v":1},{"$f":"1-Inputs!$C$8","v":1},{"$f":"1-Inputs!$C$8","v":1},{"$f":"1-Inputs!$C$8","v":1},"INPUT3 | CALC"]
["MAR before tax",null,null,null,null,278558.7435040308,{"$f":"G9*G10*G11","v":284555.77752956259},{"$f":"H9*H10*H11","v":290523.59645918169},296414.40781771886,302342.69597407331,"CALC"]
[]
["Maximum Allowable Revenue After Tax (MAR After Tax)"]
[]
["MAR before tax",null,null,null,null,{"$f":"F12","v":278558.7435040308},{"$f":"G12","v":284555.77752956259},{"$f":"H12","v":290523.59645918169},{"$f":"I12","v":296414.40781771886},{"$f":"J12","v":302342.69597407331},"MAR"]
["less Forecast regulatory tax allowance",null,null,null,null,{"$f":"TAXx!F13","v":22778.314922171652},{"$f":"TAXx!G13","v":25046.584544529891},{"$f":"TAXx!H13","v":24779.386721977986},{"$f":"TAXx!I13","v":26505.340468934221},{"$f":"TAXx!J13","v":28087.933144416798},"TAX"]
["MAR after tax",null,null,null,null,{"$f":"(F16-F17)*F26","v":263083.88587937871},{"$f":"(G16-G17)*G26","v":266919.12000637775},{"$f":"(H16-H17)*H26","v":272907.76091704285},{"$f":"(I16-I17)*I26","v":277184.88878537482},{"$f":"(J16-J17)*J26","v":281647.72929085518},"INPUT12 | CALC"]
[]
["Claw-back"]
[]
["Claw-back",{"$f":"Inputs!$C$14","v":0},null,null,null,null,null,null,null,null,"INPUT9"]
[]
["TFrev"]
[]
["TFrev",null,null,null,null,{"$f":"Inputs!F19","v":1.0285536205330978},{"$f":"Inputs!G19","v":1.0285536205330978},{"$f":"Inputs!H19","v":1.026956565439086},{"$f":"Inputs!I19","v":1.026956565439086},{"$f":"Inputs!J19","v":1.026956565439086},"INPUT12"]
[]
["Validation"]
[]
["Check that NPV of BBAR after tax agrees to NPV of MAR after tax"]
["MAR after tax",null,null,null,null,{"$f":"F18","v":263083.88587937871},{"$f":"G18","v":266919.12000637775},{"$f":"H18","v":272907.76091704285},{"$f":"I18","v":277184.88878537482},{"$f":"J18","v":281647.72929085518},"MAR"]
["Number of years used to discount to present value",null,null,null,null,1,{"$f":"F32+1","v":2},{"$f":"G32+1","v":3},{"$f":"H32+1","v":4},{"$f":"I32+1","v":5},"CALC"]
["Present Value of MAR after tax using WACC",null,null,null,null,{"$f":"F31/(1+Inputs!F11)^F32","v":245436.96788821596},{"$f":"G31/(1+Inputs!G11)^G32","v":232311.73190592718},{"$f":"H31/(1+Inputs!H11)^H32","v":224153.81599375044},{"$f":"I31/(1+Inputs!I11)^I32","v":213211.13603405698},{"$f":"J31/(1+Inputs!J11)^J32","v":202888.14507999914},"CALC"]
[{"$f":"\"NPV of MAR after tax (A) [\"&Inputs!$C$6&\" year regulatory period]\"","v":"NPV of MAR after tax (A) [5 year regulatory period]"},null,null,null,null,{"$f":"SUM(OFFSET($F33:$J33,0,0,1,Inputs!$C$6))","v":1118001.7969019497}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"MAR after tax results check (remove for final publication)"]
["BBAR after tax",null,null,null,null,{"$f":"BBARx!F39*F26","v":249047.84210223216},{"$f":"BBARx!G39*G26","v":268261.25359007018},{"$f":"BBARx!H39*H26","v":272463.48365178989},{"$f":"BBARx!I39*I26","v":282492.58324761078},{"$f":"BBARx!J39*J26","v":293042.9084269632},"INPUT12 | CALC | I-BBAR",null,null,null,"NPV",2019,2020,2021,2022,2023]
["Number of years used to discount to present value",null,null,null,null,{"$f":"F32","v":1},{"$f":"G32","v":2},{"$f":"H32","v":3},{"$f":"I32","v":4},{"$f":"J32","v":5},null,null,null,"Result",{"$f":"+F34","v":1118001.7969019497},{"$f":"+F31","v":263083.88587937871},{"$f":"+G31","v":266919.12000637775},272907.76091704285,277184.88878537482,281647.72929085518]
["Present Value of BBAR after tax using WACC",null,null,null,null,{"$f":"F36/(1+Inputs!F11)^F37","v":232342.42196308624},{"$f":"G36/(1+Inputs!G11)^G37","v":233479.85121213965},{"$f":"H36/(1+Inputs!H11)^H37","v":223788.90719075018},{"$f":"I36/(1+Inputs!I11)^I37","v":217293.82456362993},{"$f":"J36/(1+Inputs!J11)^J37","v":211096.79197234364},"INPUT6 | CALC"]
[{"$f":"\"NPV of BBAR after tax [\"&Inputs!$C$6&\" year regulatory period]\"","v":"NPV of BBAR after tax [5 year regulatory period]"},null,null,null,null,{"$f":"SUM(OFFSET($F38:$J38,0,0,1,Inputs!$C$6))","v":1118001.7969019497},null,null,null,null,"CALC"]
["less/(add) Claw-back",null,null,null,null,{"$f":"B22","v":0},null,null,null,null,"MAR",null,null,"Scenario 1",1133386.6295514298,266855.87593291968,270661.40063334728,276638.78993984993,280911.80538626353,285364.66319613048]
[{"$f":"\"NPV of BBAR after tax including Clawback (B) [\"&Inputs!$C$6&\" year regulatory period]\"","v":"NPV of BBAR after tax including Clawback (B) [5 year regulatory period]"},null,null,null,null,{"$f":"F39-F40","v":1118001.7969019497},null,null,null,null,null,null,null,"Difference",{"$f":"O40-O$37","v":15384.832649480086},{"$f":"P40-P$37","v":3771.9900535409688},3742.2806269695284,3731.0290228070808,3726.9166008887114,3716.9339052753057]
[]
["A-B (difference should be nil)",null,null,null,null,{"$f":"F41-F34","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Scenario 2",1118001.7969019504,263083.88587937877,266919.12000637787,272907.76091704291,277184.88878537493,281647.72929085523]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Difference",{"$f":"O44-O$37","v":0},{"$f":"P44-P$37","v":0},{"$f":"Q44-Q$37","v":0},{"$f":"R44-R$37","v":0},{"$f":"S44-S$37","v":0},{"$f":"T44-T$37","v":0}]

{"sheet":"Output","index":9,"n_rows":12,"n_cols":11,"rows_kept":12,"cut":false,"hidden":false,"merged":[]}
["CPP Outputs Module"]
[]
[]
[null,null,null,"Assessment Period",null,"CPP Regulatory Period"]
["Ref.","Output Name","Discrete Output",{"$f":"Inputs!D5","v":2017},{"$f":"Inputs!E5","v":2018},{"$f":"Inputs!F5","v":2019},{"$f":"Inputs!G5","v":2020},{"$f":"Inputs!H5","v":2021},{"$f":"Inputs!I5","v":2022},{"$f":"Inputs!J5","v":2023},"Description"]
["OUT1","CPP regulatory period",null,null,null,{"$f":"Inputs!F5","v":2019},{"$f":"Inputs!G5","v":2020},{"$f":"Inputs!H5","v":2021},{"$f":"Inputs!I5","v":2022},{"$f":"Inputs!J5","v":2023},"The period of continuous disclosure years in respect of which the customised price-quality path applies, and which follows the assessment period."]
["OUT2","Allowed Controllable Opex",null,null,null,{"$f":"Inputs!F7","v":0},{"$f":"Inputs!G7","v":0},{"$f":"Inputs!H7","v":0},{"$f":"Inputs!I7","v":0},{"$f":"Inputs!J7","v":0},"A series of values ($000) for the CPP regulatory period where a single value for a disclosure year represents the allowance for operating expenditure for that year in categories specified by the Commission as controllable by the supplier."]
["OUT3","Building Blocks Allowable Revenue Before Tax",null,{"$f":"BBARx!D33","v":235275.12995789654},{"$f":"BBARx!E33","v":242827.41188612202},{"$f":"BBARx!F33","v":264912.35356679867},{"$f":"BBARx!G33","v":285860.65221659816},{"$f":"BBARx!H33","v":290090.98102031648},{"$f":"BBARx!I33","v":301582.78069818881},{"$f":"BBARx!J33","v":313438.76324663212},"A series of values ($000) for the next period where a single value for a disclosure year represents the revenue required to be generated by a supplier in that year in compensate it for its economic costs for that year expressed in nominal terms and excluding claw-back or pass through or recoverable costs."]
["OUT4","Building Blocks Allowable Revenue After Tax",null,{"$f":"BBARx!D39","v":215267.06097903237},{"$f":"BBARx!E39","v":222032.24863585623},{"$f":"BBARx!F39","v":242134.03864462703},{"$f":"BBARx!G39","v":260814.06767206825},{"$f":"BBARx!H39","v":265311.59429833852},{"$f":"BBARx!I39","v":275077.4402292546},{"$f":"BBARx!J39","v":285350.83010221535},"A series of values ($000) for the next period where a single value for a disclosure year represents the Building Blocks Allowable Revenue Before Tax less the forecast regulatory tax allowance for that year."]
["OUT5","Maximum Allowable Revenue Before Tax",null,null,null,{"$f":"MARx!F12","v":278558.7435040308},{"$f":"MARx!G12","v":284555.77752956259},{"$f":"MARx!H12","v":290523.59645918169},{"$f":"MARx!I12","v":296414.40781771886},{"$f":"MARx!J12","v":302342.69597407331},"A series of values ($000) which determine the  revenue path for a supplier for the CPP regulatory period whereby a single value for a disclosure year represents the maximum allowable revenue in nominal terms that the supplier may recover from customers through prices for that year allowing for claw-back amounts, and net of pass through costs and recoverable costs."]
["OUT6","Maximum Allowable Revenue After Tax",null,null,null,{"$f":"MARx!F16-MARx!F17","v":255780.42858185916},{"$f":"MARx!G16-MARx!G17","v":259509.19298503269},{"$f":"MARx!H16-MARx!H17","v":265744.20973720372},{"$f":"MARx!I16-MARx!I17","v":269909.06734878465},{"$f":"MARx!J16-MARx!J17","v":274254.76282965654},"A series of values ($000) for the CPP regulatory period where a single value for a disclosure year represents the maximum allowable revenue that the supplier may recover through prices for that year, less a forecast amount of tax."]
["OUT7","‘X’ factor",{"$f":"Inputs!C8","v":0},null,null,null,null,null,null,null,"A single value (percentage 3 d.p.) representing the rate of change allowed for the maximum allowable revenue path where the path is expressed in ‘CPI-X’ terms."]