On March 12, 2023, Resolution Nº 0013-2023-CD-OSITRAN was published in the Official Gazette “El Peruano”, by means of which the Supervisory Body of Investment in Transport Infrastructure for Public Use (“OSITRAN”) approves the “General Guidelines to be applied in the tariff procedures under the price cap methodology or RPI-X mechanism” (“Guidelines”).
The main purpose of these Guidelines is to establish methodological criteria applicable to the calculation of the productivity factor, within the framework of the administrative procedures for the revision of maximum tariffs, in which the price cap methodology or RPI-X mechanism is used.
Regarding the productivity factor, it must be noted that it allows quantifying the average change in productivity or efficiency experienced by the company during the provision of services. Thus, once the productivity factor has been determined, the regulator sets this parameter for the purposes of the tariff readjustment for the company’s next regulatory period.
With the issuance of the Guidelines, the regulator seeks to provide greater predictability on the regulatory decisions issued by OSITRAN within the framework of the tariff review procedures.
In this regard, it is worth mentioning that, although there is no single methodology to quantify the productivity factor of an industry or regulated company, in order to ensure the predictability of regulatory decisions, OSITRAN has decided to use a standard set of methodological criteria commonly applied to the different types of infrastructure under its jurisdiction, according to the particular characteristics of each company.
It must be noted that the use of the methodological criteria contemplated in the Guidelines by OSITRAN does not condition or restrict the application of other criteria that are not provided for in the document. Precisely, the regulator may apply other criteria that have not been established in the Guidelines, depending on the specific assumptions and the availability of information presented in each specific case.
Finally, it is important to mention that the Guidelines are indicative and non-binding. Thus, they may be applied as long as they do not contravene the provisions of concession contracts and the General Tariff Regulations.
For further information, please contact Verónica Sattler (vsattler@estudiorodrigo.com), Alejandro Manayalle (amanayalle@estudiorodrigo.com) and/or Diana Briones (Dbriones@estudiorodrigo.com).
