Art. 167. Methods for calculating the estimated value of concessions

1. The value of a concession, for the purposes of Article 35, shall be the total turnover of the concessionaire generated over the duration of the contract, net of VAT, as estimated by the contracting authority or the contracting entity, in consideration for the works and services being the object of the concession, as well as for the supplies incidental to such works and services.

2. The estimated value shall be valid at the moment at which the concession notice is sent or, in cases where such notice is not provided for, at the moment at which the contracting authority or the contracting entity commences the concession award procedure.

3. If the value of the concession at the time of the award is more than 20 % higher than its estimated value, the valid estimate shall be the value of the concession at the time of the award.

4. The estimated value of the concession shall be calculated using an objective method specified in the concession documents. When calculating the estimated value of the concession, contracting authorities and contracting entities shall, where applicable, take into account in particular:

a) the value of any form of option or of other forms, however nominated, of extension of the duration of the relevant effects;

b) revenue from the payment of fees and fines by the users of the works or services other than those collected on behalf of the contracting authority or contracting entity;

c) payments or any financial advantage in any form whatsoever made by the contracting authority or contracting entity or any other public authority to the concessionaire, including compensation for compliance with a public service obligation and public investment subsidies;

d) the value of grants or any other financial advantages, in any form, from third parties for the performance of the concession;

e) revenue from sales of any assets which are part of the concession;

f) the value of all the supplies and services that are made available to the concessionaire by the contracting authorities or contracting entities, provided that they are necessary for executing the works or providing the services;

g) any prizes or payments or different economic advantage however nominated to candidates or tenderers.

5. In the calculation of the estimated value of the concession the contracting authorities or contracting entities shall take account of the acts of adjustment of the independent Authorities.

6. The choice of the method used to calculate the estimated value of a concession shall not be made with the intention of excluding it from the scope of this Code. A concession shall not be subdivided with the effect of preventing it from falling within the scope of this Code, unless justified by objective reasons, evaluated at the moment of the preparation of the contract notice by the contracting authority or contracting entity.

7. Where a proposed work or service may result in concessions being awarded in the form of separate lots, account shall be taken of the total estimated value of all such lots.

8. Where the aggregate value of the lots is equal to or exceeds the threshold laid down in Article 35, this Code shall apply to the awarding of each lot.