# Valuation (Electricity) Order (Northern Ireland) 2003, Article 4: Net annual values

Extent: N.I.

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

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Source: https://www.legislation.gov.uk/nisr/2003/77/article/4 (the official version)
Page: https://openlegislation.uk/valuation-electricity-order-northern-ireland-2003/article-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.