Electricity (Supply) Act, 1927
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Fixing of rates and scales of charges for electricity, etc. |
21.—(1) All charges made by the Board on or before the appointed day for electricity (whether derived from the Shannon works or otherwise) sold by it in bulk or direct to consumers and for goods sold or services rendered by it shall be fixed at such rates and on such scales as are in the opinion of the Board most conducive to the Board being from and after the said appointed day in a position to comply with the next following sub-section of this section. | |
(2) All charges made by the Board after the appointed day for electricity (whether derived from the Shannon works or otherwise) sold by it in bulk or direct to consumers and for goods sold and services rendered by it shall be fixed at such rates and on such scales that the revenue derived in any year by the Board from such sales and services together with its revenue (if any) in such year from other sources will be sufficient and only sufficient (as nearly as may be) to pay all salaries, working expenses, and other outgoings of the Board properly chargeable to income in that year (including the payments falling to be made in such year by the Board to the Minister for Finance in respect of interest and sinking fund payments on advances out of the Central Fund) and such sums as the Board may think proper to set aside in that year for reserve fund, extensions, renewals, depreciation, loans, and other like purposes. | ||
(3) In this section the expression “the appointed day” has the same meaning as it has in section 12 (which relates to advances from the Central Fund to the Board) of this Act. |