§ 39 and 41. Mr. HOROBINasked the Minister of Transport (1) what provision is made for obsolescence and renewals in the latest accounts of the Central Electricity Board;
(2) what is the actuarial basis, including the anticipated sales and revenue, underlying the financial provisions which are being made to meet out of revenue as they become due the interest and sinking fund on the capital of the Central Electricity Board?
§ The PARLIAMENTARY SECRETARY to the MINISTRY of TRANSPORT (Captain Austin Hudson)I will circulate such information as I have in the OFFICIAL REPORT.
§ Following is the information:
§ The Act of 1926, which set up the board, prescribed that the tariff should be so fixed that over a term of years to be approved by the Electricity Commissioners the receipts on income account should be sufficient to cover the expenditure on income account, including interest and sinking fund charges, with such margin as the Electricity Commissioners may allow. The Electricity Commissioners have approved a term of 10 years and appropriate margins for the grid tariffs; and after consultation with the Treasury have also approved the suspension of sinking fund payments and the payment of interest out of capital in accordance with the provisions of the Act.
§ As was explained by the board in their Fifth Annual Report (for the year 1932) in order to ensure an economic basis for the formulation of their tariffs, they made surveys of the probable increase in demand for electricity over the tariff decade.
§ 40. Mr. HOROBINasked the Minister of Transport what is the average revenue per unit sold in each area of general trading under the Central Electricity Board?
§ Captain HUDSONThe Board is a national undertaking for the country as a whole, and they do not publish figures relating to individual areas. I understand that the average gross revenue per unit sold by the Board in 1934 was approximately 0.4 of a penny.
§ Mr. HOROBINDoes not the Parliamentary Secretary think that as the Act lays a responsibility on the Minister this information should be available?
§ Captain HUDSONI have given the hon. Member such information as we have; that is the average for the whole country. We have not figures for separate areas of the country.
§ Mr. HOROBINIn view of the unsatisfactory nature of the reply, I beg to give notice that I shall raise this matter at an early date on the Adjournment.