‘Fair compensation payable to a landowner in respect of the grant of statutory wayleave for an electricity power line, pursuant to paragraphs 6 and 7 of Schedule 4 to the Electricity Act 1989, was to be calculated by reference to the loss in value of the land and the principle of equivalence. Where a landowner had entered into a contract for the sale of land, which was conditional on the termination of an existing contractual wayleave for a power line and the removal of the line, and the Secretary of State had granted a statutory wayleave on the termination of the contractual one, the compensation to which the landowner was entitled was the difference between the contract price for the land in question at the valuation date and the open market value of the land once the statutory wayleave had been granted.’
WLR Daily, 3rd March 2014
Source: www.iclr.co.uk
