Blixo Posted July 6, 2005 Share Posted July 6, 2005 "No worries I'll do it." Same here Sorry to go off topic here but would somebody please answer the following questions as I'm at a loss. If the MEA/Government are allowed to put up prices in this way aren't they abusing their position as the sole provider of electricity to the Isle of Man? Increased fuel costs I could understand but a clerical error?? & If we can export power to the national grid then why can't we import it? can't seem to find the MEA threads The rise of the Internet forum.. the decline of the public demo Link to comment Share on other sites More sharing options...
Declan Posted July 6, 2005 Share Posted July 6, 2005 If people don't want the debt repayments to go onto electricity bills, where would they like the money to come from? Link to comment Share on other sites More sharing options...
ButterflyMaiden Posted July 6, 2005 Share Posted July 6, 2005 If people don't want the debt repayments to go onto electricity bills, where would they like the money to come from? <{POST_SNAPBACK}> I guess an answer to that would depend on an individual's financial circumstances? Undoubtedly some folk would think it should be drawn from general revenue others may think otherwise. First .. MEA is a state owned, albeit quasi autonomous, organisation. It has statutory obligations but is accountable to the body politic. Nothing unusual about this arrangement. I mention this because responsibilty under the current political system lies with Government. On that basis and setting aside questions of blame or any other recriminations it is for Government to support the MEA and to put together a recovery package. In a democracy the politicians are accountable to the people ... so on a big issue such as this it would be legitimate for people to demonstrate in favour or against one proposal or another. Secondly .. There are surely a good number of Isle of Man citizens who would not be able to afford large electricity price increases. It might also be the case that any manufacturing industry on the Island would become less competitive if faced with large energy price increases. In short and it is only my opinion ... people should let their MHKs know that it would not be acceptable to simply pass the debt on via price hikes but .. subject to a satisfactory, cost effective refinancing package being available ... the debt should be funded from general revenue. Link to comment Share on other sites More sharing options...
simon Posted July 6, 2005 Share Posted July 6, 2005 If people don't want the debt repayments to go onto electricity bills, where would they like the money to come from? Barclays Bank? Windfall Tax. Link to comment Share on other sites More sharing options...
ButterflyMaiden Posted July 6, 2005 Share Posted July 6, 2005 If people don't want the debt repayments to go onto electricity bills, where would they like the money to come from? Barclays Bank? Windfall Tax. <{POST_SNAPBACK}> I think you could justify a windfall tax just on the basis of our mortgage with Barclays Link to comment Share on other sites More sharing options...
simon Posted July 6, 2005 Share Posted July 6, 2005 The mortgage comparison is interesting. If Barclays lend me money to buy a house - and I default on the loan - then it's between myself and Barclays. They take back the property and I'm in the doo daa. Unless someone else has guaranteed my mortgage. But if someone else has guaranteed my mortgage - then that third party will have been required to know about that guarantee and will have signed documents etc. A Barclays board member was effectively borrowing the money from Barclays on behalf of the Treasury (via the MEA). And yet, apparently, The Treasury didn't know. And Barclays make a tidy profit on the deal. Sounds to me like an obvious candidate for an external (off island) financial and legal audit. Link to comment Share on other sites More sharing options...
ButterflyMaiden Posted July 7, 2005 Share Posted July 7, 2005 The mortgage comparison is interesting. If Barclays lend me money to buy a house - and I default on the loan - then it's between myself and Barclays. They take back the property and I'm in the doo daa. Unless someone else has guaranteed my mortgage. But if someone else has guaranteed my mortgage - then that third party will have been required to know about that guarantee and will have signed documents etc. A Barclays board member was effectively borrowing the money from Barclays on behalf of the Treasury (via the MEA). And yet, apparently, The Treasury didn't know. And Barclays make a tidy profit on the deal. Sounds to me like an obvious candidate for an external (off island) financial and legal audit. <{POST_SNAPBACK}> The big difference is that the relationship between MEA and Government is defined by statute. In a nutshell ... Government is responsible. A better comparison than the mortgage one might be the case when a wife goes out on a massive shopping spree ... the husband has responsibility whether he knew about the shopping spree or not ! (get out there girls!) Link to comment Share on other sites More sharing options...
nipper Posted July 7, 2005 Share Posted July 7, 2005 Sounds to me like an obvious candidate for an external (off island) financial and legal audit. This Island desperately needs an Ombudsman. To hell with independent pride. Link to comment Share on other sites More sharing options...
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