50. Tariffs fixed by public electricity supplier and public gas licensee

Subject to this section and section 54, the prices to be charged by a public electricity supplier and a public gas licensee and to be paid by consumers for the supply of electricity or gas shall be in accordance with such tariffs as may be fixed from time to time by the supplier or licensee in accordance with the conditions of its public licence and with the approval of the Board.

A tariff fixed by a public electricity supplier or a public gas licensee under subsection (1) shall be published in such manner as will secure adequate publicity for it.

In fixing tariffs under subsection (1), a public electricity supplier or a public gas licensee shall neither show undue preference as between consumers similarly situated nor exercise undue discrimination as between persons similarly situated, having regard to the place and time of supply and the quantity supplied.

Nothing in this section shall prevent a public electricity supplier or a public gas licensee from fixing different tariffs for consumers similarly situated for such temporary period as may be approved by the Board.

Until such time when tariffs are fixed by a public electricity supplier or a public gas licensee under subsection (1), any tariff fixed under section 30(1) of the repealed Public Utilities Act [Cap. 261, 1992 Ed] in respect of a supply of electricity or gas which is effective immediately before 1st October 1995 shall have effect as if fixed under subsection (1); and the provisions of this Part and Part VII shall apply accordingly.