Newsbot Posted August 22, 2008 Share Posted August 22, 2008 An Office of Fair Trading investigation finds that Manx customers are not paying excessive charges for their gas. Source : http://news.bbc.co.uk/go/rss/-/1/hi/world/...man/7576382.stm Link to comment Share on other sites More sharing options...
thesultanofsheight Posted August 22, 2008 Share Posted August 22, 2008 An Office of Fair Trading investigation finds that Manx customers are not paying excessive charges for their gas. Source : http://news.bbc.co.uk/go/rss/-/1/hi/world/...man/7576382.stm Forgive me but surely the Office of Fair Trading should be determining whether gas prices are fair not assessing whether they are excessive? Maybe they should be renamed the Office of Excessive Trading? Link to comment Share on other sites More sharing options...
WTF Posted August 22, 2008 Share Posted August 22, 2008 An Office of Fair Trading investigation finds that Manx customers are not paying excessive charges for their gas. Source : http://news.bbc.co.uk/go/rss/-/1/hi/world/...man/7576382.stm Forgive me but surely the Office of Fair Trading should be determining whether gas prices are fair not assessing whether they are excessive? Maybe they should be renamed the Office of Excessive Trading? or the office of fuck you cos we are government employees and can afford it. Link to comment Share on other sites More sharing options...
Celt Posted August 23, 2008 Share Posted August 23, 2008 I think, possibly, that the OFT can only investigate the company trading as Manx Gas. They cannot investigate the End Parent Company, which is Babcock and Brown, based in Australia. Backbock and Browns portfolio and investments/returns can be seen on their site. Read that, then tell me that MG is trading fairly. The best read is how short a time that Babcock and Brown gave to regain the outlay paid for the company who owned MG. £15 million i believe. If you look on Babcock and Brown's own webbie, it classes the IOM as a " Monopoly " that should sum it up. Imo, the IOM Government won't take these guys on as this said company is worth Billions. The IOM Government couldn't afford the Lawyers these guys would bring to the table. Simply, the IOM Government are scared. Link to comment Share on other sites More sharing options...
triskelion Posted August 23, 2008 Share Posted August 23, 2008 This has nothing to do with Manx Gas's parent company. The OFT has no powers as regards pricing, but high prices are not inherently unfair. I'd quite like a hot tub but I can't insist the OFT take action against the mark-up on them, or whatever. The role of the OFT is to make sure people get what they pay for, which in this case is gas. If Manx Gas were putting air or something into their supply in order to expand their volumes, that would be something the OFT could deal with. It is a good thing that the OFT cannot decide on prices, as it would otherwise become the Office of the Mob's Tyranny, and every time prices on something went up it would launch investigations and the company's would have to operate in a somewhat unacceptable environment. Some of the people on here seem to think that the only acceptable position for a company is 'over a barrel.' As someone who has had actual experience with the UK energy 'market' I can tell you know that it is a shambolic farce. Link to comment Share on other sites More sharing options...
Sebrof Posted August 23, 2008 Share Posted August 23, 2008 This has nothing to do with Manx Gas's parent company. The OFT has no powers as regards pricing, but high prices are not inherently unfair. The OFT DOES have powers regarding pricing, in the sense that they are a vital part of a legal mechanism for lowering prices. If it were otherwise, what are they doing investigating a price complaint? From the OFT website: "Where the Commission concludes [following an OFT report made to them] that an excessive price has been charged and it appears to the Council of Ministers that a lower price should be charged they may ask the Office to obtain an undertaking from the person charging the excessive price that he will charge a lower price in future. If the Office fails to obtain the undertaking from the person or the undertaking is not fulfilled, the Council of Ministers may make an Order which may require the person to charge a fixed price or a price to be determined in accordance with the Order." That's power. High prices are not unfair if they simply reflect high costs. But if they are a result of a monopoly charging excessively because it can, then the prices are unfair. The question here is not whether Manx Gas makes excessive profits on the gas it buys, but whether it is paying too much to buy gas (presumably from another group company). It is not clear to me whether the OFT investigation looked at this. G Link to comment Share on other sites More sharing options...
Silentbob Posted August 23, 2008 Share Posted August 23, 2008 The OFT do sweet FA about Manx Telecom's 4x UK pricing structure or Steam Racket's QEII Pricing structure, what makes any of you think they are going to do anything about Manx Gas? Over a week now since I sent an enail to the OFT (CCd to the comms commission) and not a reply from either. Useless. Link to comment Share on other sites More sharing options...
Sebrof Posted August 23, 2008 Share Posted August 23, 2008 The OFT do sweet FA about Manx Telecom's 4x UK pricing structure or Steam Racket's QEII Pricing structure, what makes any of you think they are going to do anything about Manx Gas? Over a week now since I sent an enail to the OFT (CCd to the comms commission) and not a reply from either. Useless. A sharp enail, I hope. Did you hammer home the point? S Link to comment Share on other sites More sharing options...
manshimajin Posted August 23, 2008 Share Posted August 23, 2008 If you look on Babcock and Brown's own webbie, it classes the IOM as a " Monopoly " that should sum it up. Imo, the IOM Government won't take these guys on as this said company is worth Billions. The IOM Government couldn't afford the Lawyers these guys would bring to the table. Simply, the IOM Government are scared. Celt - I think your sentence should read 'this said company used to be worth billions'. Up S**t Creek Babcock and Brown is now worth 6% of what it was 15 months ago. Are they really that smart or just good flanellers? And sounds like a good lawyer might want his/her fee way up front. Link to comment Share on other sites More sharing options...
bluemonday Posted August 24, 2008 Share Posted August 24, 2008 http://business.scotsman.com/energyutiliti...s-on.4421609.jp The price of wholesale gas fell in July and at the beginning of August after reaching an all-time high of 110.75p per therm in June, although a problem with a gas pipeline from Norway saw prices jump 14% on Thursday. Link to comment Share on other sites More sharing options...
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