This Act may be cited as the Electricity Amendment Act 1966, and shall be read together with and deemed part of the Electricity Act 1945.

Notwithstanding the provisions of any other enactment, where any Electrical Supply Authority supplies electrical energy to a municipal corporation, or to the corporation of any county, which is an Electrical Supply Authority, the price charged to that corporation for the electrical energy shall not be greater than the actual cost to the supplying Supply Authority of purchasing the electrical energy and delivering it to the corporation:

Provided that where, at the commencement of this Act, the price charged by a Supply Authority to a corporation for electrical energy is in excess of the actual cost of purchase and delivery as aforesaid, the amount of the excess charge shall be reduced by equal annual amounts during a period of not more than five years commencing with the first day of April, nineteen hundred and sixty-seven, until no such excess charge exists.

The actual cost calculated for the purposes of subsection (1) of this section shall be determined upon a basis agreed upon between the Supply Authority and the corporation concerned. If no agreement can be reached, the basis shall be determined by the Department.