Setting for 2012 and beyond Sample Clauses

Setting for 2012 and beyond. The text below in this Annex is related to 2012 and beyond, and its relevant provisions will be incorporated in the permanent methodology to be passed by the Energy Regulatory Agency in 2011 in line with Art. 38 paragraph 1, Art. 53 paragraph 1 and Art. 194 paragraph 2 of the Law. Considering the fact that the permanent methodology will envisage a multi-year regulatory period, the RAB value will be adjusted on a yearly basis in order to take into account inflation and the new investments. Application of RAB indexation and depreciation by including the index »Deflator for Investments« in future will be the subject of reviewing relevant provisions of the regulatory framework. Taking into account that the most recent assessment of CGES asset value was made under the assessment of assets of Elektroprivreda Crne Xxxx AD as of 31 December 2003, and Energy Law (Article 44), envisages that regulatory assets value is to be adjusted through establishing the structure and value of assets by an energy entity within the periods not exceeding 5 years, CGES will complete a new assessment of asset value within the shortest period possible, and no later than the first half 2011. The value of assets coming from this assessment will be used as a basis for the yearly update of the RAB. The yearly update of the RAB will be calculated through the following formula: RAB year t = TOSNET year t-1 - KD year t-2 + IT year t-2 + RK year t-1 + Inflationyeart-1 where: RAB year t - regulated asset base (€) for the year t Inflationyeart-1 = RAB (year t-1) * Deflatort-1 for Investments TOSNET year t-1 - RAB for the year t (t-1) in (€). For the first period of the regulatory period (2012), TOSNET year t-1, is the value of assets coming from the abovementioned CGES assessment. KD year t-1 - capital contribution in the previous year (t-1) (grants, donations, assets paid by consumers) (€) IT year t-1 - value of investments at the end of year (t-1) (€), having subtracted Depreciation year t-1 (as referred in section 3) and asset Divestments year t-1 RKyear t-1 - working capital in the amount of 1/12 approved operating costs in the year (t-1) (€) It is understood that, in case the index “Deflator for Investments” as above indicated is not available for Montenegro, the “Deflator for Investments” will be as equal to the consumer price inflation rate officially published by the national Institute for Statistics of Montenegro. Regulatory value of fixed assets does not include: • assets not related ...
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Related to Setting for 2012 and beyond

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