Part of the debate – in the House of Commons am ar 25 Gorffennaf 1922.
The views expressed by the hon. and learned Member (Mr. Macquisten) who moved the Amendment are not those which I can commend to the House. Section Hi deals with the charges which are to be made by the joint electricity authority. The joint electricity authority will be a public body and they are to fix their charges in such a way as to give a supply as cheaply as may be to the authorities whom they serve, not. to the ultimate consumer, but to those who will distribute energy to the ultimate consumer. But when you are dealing with electrical energy it is common knowledge to anyone who has studied the matter at all that you may have a short period where you do not get your return immediately. You have just laid down a little additional plant which does not become fully productive in the first year or two. What are you to do? You know that over a very short term of years it will be fully productive. It is not a question of having estimated at all, but of perfectly accurate forecasting. You know the customers who are coming to you, and you know that over a short term you will be able to get a return on that capital.