外人「WACC(WHITE ALBUM2〜closing chapter〜）gatide NAKETAO(´；ω；`)」まさに全米が泣いた

the applicable WACC will be reviewed in November 2013, on the basis of a recalculation of the risk free rate,
and will be applied to the last two years of this price cycle (2014-2015). The risk free rate is determined
based on the average past 12 months yield on Italy's 10-year treasuries.

Over the second half of 2011 the risk free rate was subject to an unprecedented increase as a result of the
sovereign debt crisis in European peripheral countries, including Italy. The gap between the 2008-2011 review's
risk free rate and this review's amounts to c. 80 basis points (bps; 4.45% in 2008 and 5.24% in 2011). The inte
rim re-determination underlines the regulation's enhanced flexibility. Whether this will result in an increase of
the WACC at the recalculation date is difficult to determine at this stage, but Fitch's view is that it represen
ts a useful adjustment tool in a downside scenario.
The AEEG's final proposal includes a headline real pre-tax WACC of 7.4% for transmission and 7.6% for distributi
on, an increase of 50bps and 60bps respectively from the previous regulatory cycle (2008-2011). It should be not
ed that the AEEG's corporate tax rate allowance determination does not include the increased tax rate introduced
with the August budget law on Italian energy companies (so called Robin Hood tax) as the charge was not to be p
assed on to consumers.

The review also establishes the recognition of an additional 1% return allowance on new investments (realised f
rom 2012 and remunerated only from 2014) to compensate for the time difference between completion of investment
s and the start of their remuneration in the tariff. This item was heavily negotiated with industry players and
the final rate achieved represents an improvement on the initial AEEG proposal of 0.7%.

http://www.reuters.com/article/2012/01/13/idUSWLA135920120113

MARUTO is god.

>>1
だよな！

あー俺もそう思ったわー

やっぱビートルズはすげぇんだな

ほわるば2は何でやたら評価されてんの？

割れ外人しねと思ったらソースとホワルバ2なんの関係もなくてワラタ

そういや4chanにスレ立ってたな
もう落ちたけど

>>6
信者の声がでかいだけ
普通に良作程度

＞信者の声がでかいだけ

ＹＵ−ＮＯから脈々と受け継がれる傾向だな
Ｃ†Ｃとか酷いもんだ

>>9
信者があれだけ付けば大したもんだよ