ANP Finalizes Decision on WACC for Gas Transportation, Maintaining Rate and Rejecting Transporter Claims.
The National Agency of Petroleum, Natural Gas and Biofuels (ANP) solidified this Friday (4) the return rate to be applied to the natural gas transportation sector for the regulatory cycle of 2026 to 2030.
In a unanimous decision, the agency’s collegiate board rejected a reconsideration request presented by the Association of Natural Gas Pipeline Transportation Companies (ATGás), keeping the Weighted Average Cost of Capital (WACC) at 7.63% per year.
Importance of Tariff Review
This definition represents a crucial step in the tariff review of the natural gas transportation sector. The WACC is a fundamental indicator that establishes the permissible remuneration for investments made by companies in essential infrastructure, such as pipelines and compressor stations.
ATGás had contested six methodological points from the ANP in the calculation of the WACC, including the composition of companies’ capital and the treatment of inflation.
The association’s main objective was to obtain higher remuneration for transportation tariffs, proposing, for example, a capital structure with a greater share of equity (70% versus the current 60%) and the adoption of a 8% remuneration floor, aligned with other infrastructure sectors.
Maintenance of Parameters
However, the ANP maintained its technical assessment, refusing the transporters’ claims. The 7.63% rate will now serve as the basis for the remuneration of regulated assets, directly influencing the attractiveness of future investments in the expansion and modernization of the natural gas transportation network.
The decision concludes a cycle of discussions on the economic parameters that will guide the sector in the coming years.
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