Manx Gas MEGA Price Rise

[finlo]

1 minute ago, Non-Believer said:

Look on the bright side, at least we're heading into summer, it's warming up.

Unless the twats ask for another rise because they're not selling enough, like they did before....

Watch this space on the daily standing charges.

[Happier diner]

9 minutes ago, cissolt said:

Because, unlike you, I actually read the CURA press release.  

Do you use gas? 

I have read it yes. I have also understood it. The return is not specified. The phrase is merely to point out that they need to be able to make a profit by charging more than the cost of the raw material. If they could not they would make no return and their business would be unsustainable. 

[Happier diner]

5 minutes ago, Ringy Rose said:

When wholesale prices were low in early 2020 Ancala Partners LLP couldn't drop the price as, apparently, they weren't selling enough to cover their costs. It's almost as though Ancala Partners LLP's pricing strategy has nothing to do with the wholesale price.

If you believe Ancala Partners LLP will put prices back down when wholesale prices ease off, you're either a) deluded or b) a shill.

Given your previous posts defending the indefensible, I know what I reckon...

As for CURA, Manx Gas have always shafted us; CURA have just said they don't now even have to supply the KY Jelly. I've never seen such a spineless regulator.

Let's go to the market and find a company that wants to come here and sell us gas at a loss.

I am no 'shills and no fan of manx gas. I am just pointing out the obvious. I do use gas. I am angry. But my anger is not just at manx gas. 

[Andy Onchan]

22 minutes ago, Happier diner said:

And there is a contract. The price is based upon the cost of the raw material. It's a right pain in the arse I'll grant you. Bit not really related to the issue with Manx Gas. Do you really believe if there was competition it would make much difference? Do you think companies would be knocking at the door to volunteer to make a loss?

I didn't say it would make any difference. Presumably the reason for the existence of CURA is to provide some protection for the end user.

Having said that, they gave away £10 million to Manx Telecom for extending fibre around the Island but I'm not sure anyone (either CURA, Cabinet Office or Treasury) is monitoring the progress or if we're getting value for money. Apparently, some addresses in Onchan won't be getting fibre until 2024. Yet if you go to Laxey Valley it's already installed. Not quite sure how that works.

Edited March 29, 2022 by Andy Onchan

[Ringy Rose]

7 minutes ago, Happier diner said:

The phrase is merely to point out that they need to be able to make a profit by charging more than the cost of the raw material. If they could not they would make no return and their business would be unsustainable.

The regulations state what return they can have. Amusingly, this return is on top of the cost of any finance/loans that they have (i.e. the cost of any investment.)

I can't think of any justifiable reason why a return of 0% is "unsustainable".

I can think of plenty of unjustifiable reasons though.

My anger is as much at our spineless MHKs for voting for these regulations, and CURA for proposing these regulations, as it is at Ancala Partners LLP. Manx Gas will always take a mile if you give them an inch. CURA clearly have neither the spine nor the brains to stand up to them.

Edited March 29, 2022 by Ringy Rose

[Ringy Rose]

13 minutes ago, offshoremanxman said:

This is the issue profitability is linked to volume. If people use less the margin will come down so they'll put up the price to compensate.

Depends if you want to measure your profit by percentage or not.

It's funny how Manx Gas want a percentage when demand is high and they want a fixed return when demand is low.

It's almost as though they're a set of thieving shysters.

My anger isn't with the snakes though. A snake does as a snake is.

My anger is at CURA for being so pathetically supine about it all. 

I genuinely can't believe we're in a position where Manx Gas' profits are set as a percentage of the wholesale price. The higher the wholesale price, the higher the profit. That's how percentages work. If my bill's £100 and they take 3% then they make £3, but if my bill's £1000 then they make £30. The higher the wholesale price, the bigger the profits for Ancala Partners LLP. Trebles all round, there's one for Ivan Kiely too.

The whole thing is just shambolic. 

Edited March 29, 2022 by Ringy Rose

[Andy Onchan]

17 minutes ago, Ringy Rose said:

Depends if you want to measure your profit by percentage or not.

It's funny how Manx Gas want a percentage when demand is high and they want a fixed return when demand is low.

It's almost as though they're a set of thieving shysters.

My anger isn't with the snakes though. A snake does as a snake is.

My anger is at CURA for being so pathetically supine about it all. 

I genuinely can't believe we're in a position where Manx Gas' profits are set as a percentage of the wholesale price. The higher the wholesale price, the higher the profit. That's how percentages work. If my bill's £100 and they take 3% then they make £3, but if my bill's £1000 then they make £30. The higher the wholesale price, the bigger the profits for Ancala Partners LLP. Trebles all round, there's one for Ivan Kiely too.

The whole thing is just shambolic. 

I think we're in a better place with CURA than we were before the administration of the regulations was passed over to them. If I remember correctly the sponsoring department looking after the regs before CURA was the DOI....   

[Numbnuts]

Question , am I right in thinking to this day Manx Gas have never submitted their accounts to any organisation or the likes of CURA or similar ??

[Non-Believer]

23 minutes ago, Andy Onchan said:

I think we're in a better place with CURA than we were before the administration of the regulations was passed over to them. If I remember correctly the sponsoring department looking after the regs before CURA was the DOI....   

And the OFT and Mr Perkins IIRC?

[Amadeus]

Can we have a ban on ManxGas sponsoring anything? 

[cissolt]

7 minutes ago, Amadeus said:

Can we have a ban on ManxGas sponsoring anything? 

Yes!  And no freebies for MHKs!

Wonder how much more government will pay for their gas?

[Banker]

30 minutes ago, Numbnuts said:

Question , am I right in thinking to this day Manx Gas have never submitted their accounts to any organisation or the likes of CURA or similar ??

Manx Gas have provided full detailed accounts to CURA & continue to do so in order that the agreed return is not exceeded.

[Banker]

8 minutes ago, Amadeus said:

Can we have a ban on ManxGas sponsoring anything? 

Why? If they sponsor local sporting teams & events surely that’s a good thing they’re doing

[2112]

1 hour ago, Ringy Rose said:

When wholesale prices were low in early 2020 Ancala Partners LLP couldn't drop the price as, apparently, they weren't selling enough to cover their costs. It's almost as though Ancala Partners LLP's pricing strategy has nothing to do with the wholesale price.

If you believe Ancala Partners LLP will put prices back down when wholesale prices ease off, you're either a) deluded or b) a shill.

Given your previous posts defending the indefensible, I know what I reckon...

As for CURA, Manx Gas have always shafted us; CURA have just said they don't now even have to supply the KY Jelly. I've never seen such a spineless regulator.

…………. As well as a spineless Government.

As an aside Rob Callister is getting some stick on social media, as apparently in the HOK he made a dogs breakfast of answering a question posed to him as Head of MUA. He is blaming the fact that he couldn’t hear, as there was the noise from other MHKs. 

[Banker]

Just now, 2112 said:

…………. As well as a spineless Government.

As an aside Rob Callister is getting some stick on social media, as apparently in the HOK he made a dogs breakfast of answering a question posed to him as Head of MUA. He is blaming the fact that he couldn’t hear, as there was the noise from other MHKs. 

Were they laughing at him😂