Financial BurdenATO increased its financing budget by 50% to support the new capex outlook, which could cause concerns about additional financial burden.
Financial RiskConsiderable dependence on external equity could be a risk in case of a market downturn and lead to more EPS dilution.
Regulatory RiskATO forecasts an ~8-9% CAGR in customer bills, above historical inflation levels, which could be a risk if gas prices spike as it could crowd investment headroom and cause regulatory backlash.