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© Adapted from Oxera (2019)
Notes
To be accurate, we note that the ordinance has been changed recently. Section 23 still exists formally, but is no longer activated, as it has been replaced by another section arranging an annual CAPEX-true-up.
In the end, the AEMC decided not to proceed to a regulatory reform for the time being due to other reform priorities.
This expression could be slightly refined. Under FOCS, OPEX and CAPEX go into TOTEX; afterwards these are changed into operating costs and capital costs. For capital, expenditure and costs are not the same. We ignore this refinement
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von Bebenburg, C., Brunekreeft, G. & Burger, A. How to deal with a CAPEX-bias: fixed-OPEX-CAPEX-share (FOCS). Z Energiewirtsch 47, 54–63 (2023). https://doi.org/10.1007/s12398-023-0906-4
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DOI: https://doi.org/10.1007/s12398-023-0906-4