O texto apresentado é obtido de forma automática, não levando em conta elementos gráficos e podendo conter erros. Se encontrar algum erro, por favor informe os serviços através da página de contactos.
Não foi possivel carregar a página pretendida. Reportar Erro

Tlie upper value (6.5U/o) is towards the values used by some regulators in the mid-1990s (and interestingly regulators in Portugal and Australia have been increasing rates again to similar levels). The lower bound (4%) reflects the values used coiisistendy tor most of the 2000s. As shown in Figure 3.1, arguably the range of commonly-used values has fallen and narrowed over time, and we reflect this in our assumptions. Our base case is 5.0% for the 2000s.
4.2.3. Equity betas Our estimate of the equity- beta has used several steps: 1. estimate the equity beta of generation companies (which has needed to include integrated energy companies to ensure a sufficient sample size); 2. estimate the asset beta by de-gearing the equity beta estimates; and 3. estimate a generation/integrated company benchmark using the asset betas and a notional level of gearing.
The raw equity betas tor our sample of integrated utility companies are presented in Figure 4.5 below.
II SÉRIE-B — NÚMERO 226
___________________________________________________________________________________________________________________
184


Consultar Diário Original