ManxTaxPayer Posted September 21, 2021 Share Posted September 21, 2021 Ok, we already have the most expensive gas in the world so which way do we thing the imminent gas crisis is going to send our bills? I think I know. Quote Link to comment Share on other sites More sharing options...
Ham_N_Eggs Posted September 21, 2021 Share Posted September 21, 2021 The cost of electricity could rise as well. It all depends how far in advance the MUA have bought. 1 Quote Link to comment Share on other sites More sharing options...
CallMeCurious Posted September 21, 2021 Share Posted September 21, 2021 Anyone want to bet that our new government will negotiate a better gas deal with Manx gas right as the price peaks. Sure MG will love that. Quote Link to comment Share on other sites More sharing options...
John Wright Posted September 21, 2021 Share Posted September 21, 2021 38 minutes ago, CallMeCurious said: Anyone want to bet that our new government will negotiate a better gas deal with Manx gas right as the price peaks. Sure MG will love that. As it’s based on return on capital invested the cost of the raw product is irrelevant. The new deal is only just completed. It won’t be reviewed. Yes, we face higher prices, but so does everywhere. I got my minuscule regulatory credit, £12.15, back on the most recent bill. Smallest bill ever. Usage was £20 less than same period last year. Quote Link to comment Share on other sites More sharing options...
b4mbi Posted September 21, 2021 Share Posted September 21, 2021 If only we had an estimated 1.3Trillion cubic foot natural gas field in our territorial waters.... I think it'd be a great idea to find out for certain...... 3 Quote Link to comment Share on other sites More sharing options...
Cambon Posted September 21, 2021 Share Posted September 21, 2021 (edited) The spike in gas price is one thing, and it will affect us here. However, the overall energy situation will be worse in the uk. A large power cable used to purchase nuclear electricity from France has burnt oua Edited September 21, 2021 by Cambon Quote Link to comment Share on other sites More sharing options...
John Wright Posted September 21, 2021 Share Posted September 21, 2021 34 minutes ago, b4mbi said: If only we had an estimated 1.3Trillion cubic foot natural gas field in our territorial waters.... I think it'd be a great idea to find out for certain...... And that will affect the world wholesale price of gas, how? Quote Link to comment Share on other sites More sharing options...
b4mbi Posted September 21, 2021 Share Posted September 21, 2021 11 minutes ago, John Wright said: And that will affect the world wholesale price of gas, how? It won't, clearly. You'd like to think if it was our gas, a mechanism and terms could be secured by IOMG as a condition of extraction by which domestic supply needs could be purchased on a long term contract at a heavily discounted price to the prevalent world wholesale price. Thus cheaper energy over the longer term for IOM. 1 Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted September 21, 2021 Share Posted September 21, 2021 7 minutes ago, b4mbi said: It won't, clearly. You'd like to think if it was our gas, a mechanism and terms could be secured by IOMG as a condition of extraction by which domestic supply needs could be purchased on a long term contract at a heavily discounted price to the prevalent world wholesale price. Thus cheaper energy over the longer term for IOM. If..... the volume is there, and If..... Crogga (or whoever) can get into full field production sooner rather than later then I hope to God that IOMG will ensure that the Production Sharing Agreement (PSA) is negotiated by a competent legal and commercial team, ie not Manx CS! 3 3 Quote Link to comment Share on other sites More sharing options...
mad_manx Posted September 21, 2021 Share Posted September 21, 2021 (edited) In the past when natural gas prices fell they didn't pass on the lower prices to us. And from what I remember we were told that it's because they buy in advance so that prices remain stable. So they couldn't pass on the lower prices. Let's see what happens now after natural gas prices have increased .. Edited September 21, 2021 by mad_manx Quote Link to comment Share on other sites More sharing options...
P.K. Posted September 21, 2021 Share Posted September 21, 2021 2 1 Quote Link to comment Share on other sites More sharing options...
TheTeapot Posted September 21, 2021 Share Posted September 21, 2021 The obvious problem is speculation and futures trading, all that completely made up stuff to make certain people rich. We should totally licence a well or two, let the company sell it for whatever they want if they supply the whole island with gas for nothing. We're a tiny place, it shouldn't be too hard. 1 Quote Link to comment Share on other sites More sharing options...
2112 Posted September 23, 2021 Share Posted September 23, 2021 According to the Manx Independent, Electricity prices on the island could rise, and Manx Gas are in emergency talks with the Government. No doubt if they are up shit creek, us taxpayers will be bailing them out - probably out of the £400 million that was borrowed. This has been in the news for days, and as ever, our National Government has its fingers on the button - Last minute panic more like. I’ll bet there will be a nice little debate for the new idiots to hand wring and emote, but prices will rise and all will suffer, and the green lobby will be happy. Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted September 23, 2021 Share Posted September 23, 2021 This Island is fast becoming a very expensive place to reside. Many factors are outwith its control, such as gas, just now. Others are not and are born of failed Govt policies and/or present and past incompetence. Regardless, the buck stops with the man in the street who is ever harder pressed to match the demands. It does nothing towards making the place an attractive place to live. 1 Quote Link to comment Share on other sites More sharing options...
2112 Posted September 23, 2021 Share Posted September 23, 2021 I can see Manx Gas running rings around our Government, and it’s Civil Service. If MG are in financial straits, and they fold, how are our IOMG going to provide gas to its residents? I foresee bailout galore, bills increasing, people freezing and a toasty warm House of Keys and Tynpotwald Chamber. Quote Link to comment Share on other sites More sharing options...
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