PTC, through letter 20185530, of 4 March 2011, requested the review of the rate of the cost of capital to be used in 2010, suggesting a figure of 12.02% 1 for that financial year, based on two significant changes that occurred to two of the eligible parameters in 2010 (risk-free interest rate and interest rate), whose quantification is immediate.
In the same letter PTC also sends the analysis justifying the rate it proposes (12.02%), as well as a number of considerations on the methodology to establish the rate of the cost of capital determined by this Authority, which deserves an attentive and careful review. We now present a detailed analysis that duly clarifies each situation.
Notes
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1 At the previous hearing, Grupo PT, to which PTC belongs, proposes a different rate to be used in the 2010 financial year, i.e. 12.3%, rather than 12.02%. This issue is analyzed in detail in the report of the prior hearing, which is part of the present Decision.
