Manx Gas MEGA Price Rise

[b4mbi]

If only the island had a massive 1.3trillion cubic feet of natural gas in it's territorial waters and its government had the ability to set the terms under which that gas could be extracted, ensuring a supply for the Island that was not subject to market fluctuations.

Complete fucknuggets.

£multiple Billions of additional tax revenue to government for no government outlay.

Amend the licence terms to consider the above THEN GET ON WITH GRANTING THE  LICENCE EXTENSION AND GET THE FUCKING GAS! 

[b4mbi]

The decision is beyond her pay grade she said at the election hustings in baldrine, and she also said £billions cannot be ignored so it should be looked at.

Why listen to the noisy green minority (remember NO MANDATE) who seem happy to promote policies which will bankrupt the island and which in global terms will make NO difference at all.

[2112]

55 minutes ago, Amadeus said:

Can we have a ban on ManxGas sponsoring anything? 

Someone’s got to sponsor the TT Hospitality Tent, the MHKs watering hole.

[2112]

9 minutes ago, offshoremanxman said:

But that would upset Daphne. And nobody seems to be allowed to upset Daphne. If she was around 300 years ago she’d by the only pirate who didn’t believe in buried treasure. 

Someone would make her walk the plank

[bozinko]

8 minutes ago, 2112 said:

Someone’s got to sponsor the TT Hospitality Tent, the MHKs watering hole.

would love to see her stock portfolio. bet there is lots of mining, oil companys etc in it

[Non-Believer]

They did overtly sponsor leading UK sidecar runners the Birchalls (amongst others) at the TT for a couple of years, this was in the days of the previous, now-questionable regulation arrangement. Quite a  few people made their feelings known at the time and the livery shortly afterwards changed to that of the parent IE Group. Whether the two are connected.....

[Omobono]

Just now, Non-Believer said:

They did overtly sponsor leading UK sidecar runners the Birchalls (amongst others) at the TT for a couple of years, this was in the days of the previous, now-questionable regulation arrangement. Quite a  few people made their feelings known at the time and the livery shortly afterwards changed to that of the parent IE Group. Whether the two are connected.....

And there were more then a few local politicians  regular participants at the Manx Gas corporate hospitality  tent enjoying the special privelage afforded to those with connections to the OFT and the regulator , funny that ! who would have guessed 

[Happier diner]

2 hours ago, Ringy Rose said:

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.

If you think a business can run with a model of 0% return, I'm afraid you know little about business.

I am with you and agree we shouldn't be ripped off....but come on, get real. 

[Happier diner]

1 hour 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 ??

You are probably right. But then why would they if they are not contractually obligated to?

[Banker]

1 minute ago, Happier diner said:

You are probably right. But then why would they if they are not contractually obligated to?

As already answered above, they supply detailed accounts on ongoing basis to CURA

[Happier diner]

Just now, Banker said:

As already answered above, they supply detailed accounts on ongoing basis to CURA

Are they in the public domain?

[Ringy Rose]

18 minutes ago, Happier diner said:

If you think a business can run with a model of 0% return, I'm afraid you know little about business.

Forever? Probably not, as the owners would wander off bored (though would the departure of Ancala Partners LLP be a bad thing?) It also raises the question about whether a monopoly should be a private business. The MUA aren't taking the piss with price rises, after all.

But in the current climate, why should Ancala Partners get a guaranteed percentage return (which bizarrely means fatter profits just when costs are highest) when the rest of us have to tighten our belts?

CURA setting a percentage retail margin without then setting an upper earnings limit (e.g. 3% up to a maximum of £x) is just staggeringly bad judgement. As I feared, Ancala Partners have just played them as idiots.

[Amadeus]

53 minutes ago, Youaintseenme said:

Why?  What would that achieve?

There is ZERO need for a monopoly company to sponsor or advertise anything. Who do you think pays for all the ads and the fancy hospitality and free booze? Their customers. Manx Gas had been taking the piss for way too long. 

[Ringy Rose]

58 minutes ago, Youaintseenme said:

Why?  What would that achieve?

Depends on whether Manx Gas get to call their sponsorships a retail expense, or whether it comes out of their margin.

I'm going to guess that the "advertising" will be a retail expense that, happily, increases their costs (which get passed on in full thanks to CURA) whilst giving their bosses a metric fuckton of free booze.

Edited March 29, 2022 by Ringy Rose

[Expat.]

4 hours ago, Happier diner said:

Its nothing to do with their return is it? Its related to the wholesale gas price. Seems the only way to do it. Why would you expect a commercial company to sell something for less that it pays for something

I don't know, but maybe it would have been better if we hadn't flogged all our north sea hydrocarbons to the Chinese, French, Russians, Italians, Norwegians to name but a few? Maybe if there had been something like, oh, maybe a national energy plan where we didn't snatch cheques out of the hands of any foreign government prepared to buy the proceeds of our own hydrocarbon deposits we could have sold our own gas to our own people at a fair price. Maybe if the spineless twats running the country had fracked the 40 million cubic feet of shale gas in Lancashire, you know, in the national interest, instead of giving in to protesters and as they are presently, pouring concrete down the bore holes to block them off; maybe then we could have energy at a fair price instead of paying the most in Europe.