Table А2.І: AlkimiWACCßrKiiM (ISO).
Nomina] interest rate \ without risk Debt risk premium В Debt cost before taxes Debt cost after taxes Gearing Debt/(Equity + Debt) Equity risk premium Equity Beta C=A+B D-Cx(l-J) i: F G Cost of Equity after taxes 1 l=.\+(FxG) Cost of 1 equity before taxes Tax rate I=H/(1-J) 1 Cost of Capital before к raxes Cost of Capital defined for the Regulatory Period (Pre-tax nominal) Cxjst of capital (Pre-tax real based on С )ECDreported outturn inflation) 1999-2013 19992001 8.50% 5.21% 5.0% 1.0% 6.0% 4.0% 42% 4.0% 34"6.4% 9.5% 33% 8.1% 2002-2004 5.7% 5.1% l.i г.. 1.0% 6.7% 6.1% 4.5% 4.1% і 42% 54% 5.0% 4.0% 44% 41% 7.9% 6.8% 11.7% 10.1% 33% 33% 9.6% 8.0% 9.(10% 5.67% 5.8% 1.0% 6.8° • 4.5% 54% 5.0% 54% S31'..
12.6% 33% 9.5% 2005 3.9% 0.5% 4.4% 3.2% 46% 4.3% 35 • 5.4% 7.5% 28% 6.1% 4.4% 0.5% 4.9% 3.6% 46% 5.3% 45% 6.8% 9.4% 28% 7.3% 8.01)" 5.75% 2006-2008 3.8% 0.7% 4.5% 3.2% 45% 3.5% 30% 4.9% 6.7% 4.4% 0.7% 5.0"; VÍV ..
45% 4.5% 40% 6,2% 8.5% 28% 28% 5.7% 6.9% 7.00% 4.18% 2009-2011 4.5% 0.5".'.
5.0% 3.7% 61% 3.5% K'J% 7.7% 111.4"-.
27% 7.2% 4.5% 0.9% 5.4% 4.0% 61% 4.5% 93% 8.7% 11.9% 27% 8.0% Indexed ro lOvr Govr. Bonds 2009 = 7.55% 2010 - 7.39% 2011 = 7.56% 2009 = 6.12% 2010 = 5.96% 2011 -6.13% 2012-2014 3.4% 4.3% 7.7% 5.3% 50% 6.5% 51% 6.7% 9.8% 32% 8.8% 3.4% 4.3% 7.7% 5.3% 50% 6.5% 60% 7.3% 10.7% 32% 9.2% 9.00% N/A 5 DE JUNHO DE 2012
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