§ Mr. Bryant Godman Irvineasked the Minister of Power if he will now give a general direction to ensure that the rate of interest payable on deposits to elec-
Total Generating Capacity at 1st January Calculated maximum demand in average cold spell weather Winter Megawatts sent out Percentage increase Megawatts Percentage increase Percentage margin 1964–65 … … 33,355 1 32,350 5 3 1965–66 … … 36,670 10 34,300 6 7 1966–67 … … 38,457 5 35,300 3 9 1967–68 … … 41,463 8 35,600 1 16½ The Central Electricity Generating Board's total generating capacity on 1st January this year was 44,343 MW, which gave a gross margin of 21 per cent. over the provisional estimate of maximum demand, adjusted to average cold spell weather, of 36,700 MW. Subsequent information suggests, however, that the estimated weather adjusted demand could be rather higher than had been previously estimated, and if this is confirmed, the plant margin would be about 19 per cent.
On the basis of the Electricity Council's March, 1968, forecast of simultaneous maximum demand in average cold spell weather of 54,000 MW in 1973–74 and the estimate in the C.E.G.B.s 1968 capital development programme of 65,200 MW of plant at the end of 1973, the margin would be 21 per cent. The Electricity Council does not normally publish revised forecasts for intervening years and the actual margins year by year will also depend on the phasing of new plant commissioning
382Wtricity boards shall be increased from 4 per cent. per annum.
§ Mr. MasonNo. I have no powers to vary the 4 per cent. interest rate laid down in Section 71 of the Schedule to the Electric Lighting (Clauses) Act, 1899