The Third Schedule
  

                (b) the actual effective capacity of the station on the first day of each such year agreed in accordance with the principles set out in paragraph IX of the First Schedule.

       IX. As soon as practicable after the beginning of each year of account there shall be ascertained in respect of that year such annual charges by way of interest and depreciation attributable to the assets purchased by the Board under this Schedule as would have resulted from the application of clauses (e) and (f) of paragraph 1 of the Eighth Schedule, had those assets remained in the owner ship of the licensee.

       X. The licensee shall be entitled to purchase from the Board in each year of account at a price determined under paragraph XI --

                (a) a number of kilowatts not exceeding the agreed effective capacity ascertained in respect of that year under paragraph VII, and

               (b) a number of kilowatt hours not exceeding the number of kilowatt hours which bear the same proportion to the total number of kilowatt hours required by the licensee in that year for the purposes of his undertaking as the agreed affective capacity ascertained in respect of that year bears to the total maximum  demand of the licensee in that year for the said purposes.

       XI. The price payable by the licensee in respect of each year of account for the quantity of electricity specified in paragraph X shall be --

              (a) in respect of kilowatts, a fixed charge equal to the sum of --

                    (i) an amount calculated from the expression
                                                                          "A + A  * B   ;
                                                                          ---- ----   ---
                                                                            2     2     C"      


                    (ii) an amount calculated from the expression “B X D
                                                                                        --------;
                                                                                           C”
  

                   (iii) the annual charges by way of interest and depreciation ascertained in respect of the year of account  under paragraph IX, where --

                    A = one third of the total costs during the basic years under head (ii), (iii), (iv) and (vi) set in clause (a) of paragraph VIII;
                    B = the agreed effective capacity for the year of account;
                    C = one third of the sum of the actual effective capacities [ascertained under clause (b) of paragraph VIII] for each of the basic years;
                    D = one third of the total costs during the basic years under head
                  (v) set out in clause (a) of paragraph VIII;
                  (b) in respect of kilowatt-hours, a running charge per kilowatt-hour ascertained --

                  (i) by multiplying the total number of tons of fuel consumed in the sttion in the basic years by the estimate agreed between the Board and the licensee of the cost per ton which would have been incurred in delivering and handling the same quantity of fuel of equivalent calorific value to the furnaces in the station during the year of account, had the station remained in the ownership of the licensee, and

                 (ii) by dividing the total cost so found by the total number of units sent out from the station in the basic years.