Article 4 Net annual values
(1)
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 1998 and for each subsequent year shall be an amount equal to—
(a)
where the primary source of energy used by a generating plant is wind or tidal power, £2,860 per megawatt of the declared net capacity of the generating plant on 1st April in the year in question;
(b)
in any other case, £5,720 per megawatt of the declared net capacity of the generating plant on 1st April in the year in question.
(2)
In paragraph (1)(a) and (b), amounts in megawatts shall be expressed to the nearest hundredth part of a megawatt.