This Act may be cited as the Finance Act 1974.

Notwithstanding anything in section 34 of the Electricity Act 1968, the prices charged for all electricity supplied and sold to Electrical Supply Authorities under the Electricity Act 1968 in respect of the period commencing with the 1st day of April 1975 and ending with the 31st day of March 1976, may be so calculated and charged, or may be so reduced, by the Minister of Electricity, as to produce in respect of that period less revenue than is sufficient to comply with the provisions of subsection (1) of the said section 34 if the Minister is satisfied that the calculation and charge or reduction is advisable in the interests of restricting inflation or of stabilising prices to consumers or is otherwise in the national interest.