Net annual values
4. In the case of a hereditament falling within the class to which Article 3 applies, its net annual value for the year ending on 31st March 2004 and for each subsequent year shall be an amount produced by applying the formula –
M × DNC
where –
M is the amount set out in column 2 of the following Table in relation to the source of energy set out in column 1 thereof which is used by the generating plant in or on the hereditament; and
DNC is the declared net capacity of the generating plant in or on the hereditament (expressed to the nearest hundredth part of a megawatt) on 1st April in the relevant year, or in the event of a change in the source of energy during the relevant year, the date when that change takes place.
TABLE
| 1 | 2 |
|---|---|
| Source of energy | £ per megawatt |
| The burning of coal | 5,000 |
| The burning of oil | 5,000 |
| The burning of natural gas where a steam turbine is used for the purposes of the generating process | 7,700 |
| The burning of natural gas where a steam turbine is not used for the purposes of the generating process | 5,000 |
| Wind Power | 4,000 |
| Water Power | 4,000 |
| Any source of energy not listed above | 5,000 |