Redetermination of net annual value
8. For the year ending on 31st March 2005 and for each subsequent year the net annual value of the hereditament occupied by the Company and specified in Part B of the Schedule shall be the amount determined in accordance with the formula –
where –
E is the estimated installed transformer capacity (measured in kilovoltamperes) of all the electricity transformation plant in or on the hereditament specified in Part B of the Schedule on 31st March in the relevant preceding year; and
F is the estimated installed transformer capacity (measured in kilovoltamperes) of all the electricity transformation plant in or on the hereditament specified in Part B of the Schedule on 31st March 2003.