1. This Order may be cited as the Valuation (Electricity) Order (Northern Ireland) 2003 and shall come into operation on 1st April 2003.
2. In this Order –
“the Company” means Northern Ireland Electricity plc;
“declared net capacity”, in relation to generating plant, means the highest generation of electricity (at the main alternator terminals) which can be maintained indefinitely without causing damage to the plant, less so much of that capacity as is consumed by the plant, expressed in megawatts to the nearest one hundredth part of a megawatt;
“the Electricity Order” means the Electricity (Northern Ireland) Order 1992;
“exemption” means an exemption under Part II of the Electricity Order;
“generate”, in relation to electricity, means generate for the purpose of giving a supply of electricity to any premises or enabling a supply of electricity to be so given;
“generating plant”, in relation to a hereditament, means plant in or on the hereditament which is used or available for use for the purposes of generating electricity;
“licence” means a licence under Part II of the Electricity Order;
“supply” and “transmit”, in relation to electricity, have the meanings assigned to them by Article 3 of the Electricity Order;
“relevant year” means any year for which a net annual value falls to be determined in accordance with this Order; and
“relevant preceding year” means the year immediately preceding a relevant year.