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3.—(1) The method of calculating what would have been the total cost (in pounds) to each public electricity supplier P of purchasing the electricity mentioned in either paragraph 1 or paragraph 2 of this Schedule if that electricity had been generated by a fossil fuel generating station (which, when combined with the like total cost attributable to every other public electricity supplier, is expressed as By in paragraph 2 of Schedule 2) is given by the formula—
(2) In the formula specified in sub-paragraph (1) above—
Σn signifies the summation over all the qualifying months within period y;
Wn is the reference price (in pence per unit) in respect of the electricity referred to in paragraph 1 or, as the case may be, paragraph 2 of this Schedule within month n, calculated in accordance with paragraph 5 except during a security period, when it shall be the price determined as the Director, after consultation with licensed suppliers, sees fit; and
Vn is the number of units of the electricity referred to in paragraph 1 or, as the case may be, paragraph 2 of this Schedule within month n.
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