Formula Year definition
Examples of Formula Year in a sentence
For the purposes of paragraph 5.12 the transportation revenue information is forecast revenue and actual revenue, for the immediately preceding month and each calendar month prior thereto in the relevant Formula Year, in each case in respect of each of the categories of charges referred to in Table 1 below.
The Designated Parameters and the Determination Values applying in respect of each Formula Year t will be established in accordance with the process set out below (a “Review”).
The Profile Adjustment is an adjustment to reflect the long-term nature of the price control set out in this Condition 2.3. The Determined Revenue Per Therm values are established at each Review by reference to the period to Formula Year t=q and not by reference to the period to Formula Year t=n.
A Review will take place at scheduled intervals by reference to the end of Formula Year t=n.
This will change if the Formula Year SMPAQ and/or load factor changes in the future.PLCSEPThis is the aggregated Peak Load obtained from the CSEP AQ for ESP’s network which is normally calculated by the GDNs applying the Domestic load factor to the AIGTS AQ.
If the Authority has so satisfied itself, it will direct that the formula set out in this Part B is to apply for the purposes of calculating the RBt term in the specific Formula Year and in each of the subsequent Formula Years.
For the purposes of Condition 2.3.8 the following Best Available Values shall be submitted by the Licensee, in respect of each Formula Year t from t=a submitted at the preceding Review up to and including t=q for the current Review.
Such compensation shall represent the real value of the investment in question, including the payment of interest at the normal commercial rate until the date of payment, and shall, in order to be effective for the claimants, be paid and made transferable without delay, to the country designated by the claimants and in the currency of the country of which the claimants are nationals, or in any freely convertible currency accepted by the claimants.
For the avoidance of doubt, regulatory tax losses are not carried back and offset against tax liability allowances for Formula Years earlier than the Formula Year to which the regulatory tax loss concerned is attributable.
In the formulae describing the charges, there are terms which are defined as follows: PLSP /SOQThis is the Peak Load of the individual Supply Points on ESP’s networks (also known asthe SOQ) which are calculated from the EUC load factors (applicable at the time) and the Supply Point’s Formula Year SMPAQ.