Happier diner Posted April 27, 2022 Share Posted April 27, 2022 22 minutes ago, Andy Onchan said: https://www.manxradio.com/news/isle-of-man-news/manx-gas-says-plea-for-change-of-payment-terms-was-to-aid-cash-flow/ In the private sector (which MG is) where additional funding is required (especially cashflow) the first people you should look to are, or should be, the shareholders. Did that happen? Or perhaps the parent company. Which is probably the same thing I guess. 1 Quote Link to comment Share on other sites More sharing options...
Banker Posted April 27, 2022 Share Posted April 27, 2022 Not good news for gas prices On Wednesday, early trading saw European gas prices rise by 19% - nearly a fifth - to 117 euros per megawatt hour, following Gazprom's announcement. The UK also has limited gas storage facilities, which means it is more affected by short-term price fluctuations in the wholesale market than countries which can hold greater reserves. If Russian gas supplies to the wider EU were cut off, there would be increased competition for alternative supplies. A third of the UK's gas comes through pipelines from Norway - this morning Vaar Energi company said it's currently directing as much gas as it can to the European continent, where prices are higher than they are in the UK. Currently energy bills in the UK are predicted to reach as high as £3,000 a year, at a time when many households are struggling Quote Link to comment Share on other sites More sharing options...
GD4ELI Posted April 27, 2022 Share Posted April 27, 2022 22 minutes ago, Banker said: Not good news for gas prices On Wednesday, early trading saw European gas prices rise by 19% - nearly a fifth - to 117 euros per megawatt hour, following Gazprom's announcement. The UK also has limited gas storage facilities, which means it is more affected by short-term price fluctuations in the wholesale market than countries which can hold greater reserves. If Russian gas supplies to the wider EU were cut off, there would be increased competition for alternative supplies. A third of the UK's gas comes through pipelines from Norway - this morning Vaar Energi company said it's currently directing as much gas as it can to the European continent, where prices are higher than they are in the UK. Currently energy bills in the UK are predicted to reach as high as £3,000 a year, at a time when many households are struggling Good news for the planet overall. I just hope we get on with the new nuclear power plants. Next year I get a full solar array. Quote Link to comment Share on other sites More sharing options...
Gladys Posted April 27, 2022 Share Posted April 27, 2022 4 hours ago, Happier diner said: Or perhaps the parent company. Which is probably the same thing I guess. The thing is that PE have no emotional investment, it is purely a financial model which gives a return. If it doesn't, they will hang on in until a remodelling shows it does and they can exit. Often the plans for PE consider the exit ( because that where the real value is) as much as the entry. There will be a vehicle which is the investor, but it has derived the funds to invest from multiple investors/funds. If you think there is any loyalty or desire to see MG prosper whilst serving the people of the IOM, then you are sadly mistaken. Also, there is absolutely no obligation for a shareholder to stump up more money. 1 Quote Link to comment Share on other sites More sharing options...
0bserver Posted April 27, 2022 Share Posted April 27, 2022 1 hour ago, Banker said: Not good news for gas prices On Wednesday, early trading saw European gas prices rise by 19% - nearly a fifth - to 117 euros per megawatt hour, following Gazprom's announcement. The UK also has limited gas storage facilities, which means it is more affected by short-term price fluctuations in the wholesale market than countries which can hold greater reserves. If Russian gas supplies to the wider EU were cut off, there would be increased competition for alternative supplies. A third of the UK's gas comes through pipelines from Norway - this morning Vaar Energi company said it's currently directing as much gas as it can to the European continent, where prices are higher than they are in the UK. Currently energy bills in the UK are predicted to reach as high as £3,000 a year, at a time when many households are struggling If only we had a nearby supply of the stuff... 3 1 Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted April 27, 2022 Share Posted April 27, 2022 1 minute ago, 0bserver said: If only we had a nearby supply of the stuff... But have we !!???. Quote Link to comment Share on other sites More sharing options...
Gladys Posted April 27, 2022 Share Posted April 27, 2022 2 minutes ago, Numbnuts said: But have we !!???. Even if it is there, it will be years until it is extracted and is really irrelevant to the current debate. 3 Quote Link to comment Share on other sites More sharing options...
The Phantom Posted April 27, 2022 Share Posted April 27, 2022 (edited) The only winners in a PE scenario is the PE entity itself, its shareholders and the shareholders of the asset purchased by PE. I've seen a few times in business, the Directors of a company will undertake a management buy-out backed by PE. The PE company realizes they can get a better return if they input their own directors, or streamline the board, fire the directors and ultimately the people that 'sold' the company actually get screwed over themselves (albeit they would have had a handsome payout beforehand). It's usually the guys who are minority shareholders. The customers of the company that was PE'd then find out that the service goes out the window and their fees go up. If you're ever a customer of a company that gets PE'd, I'd shift out ASAP before you start getting screwed. Unfortunately that is us, the Gas users... Edited April 27, 2022 by The Phantom 2 1 Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted April 27, 2022 Share Posted April 27, 2022 Just now, Gladys said: Even if it is there, it will be years until it is extracted and is really irrelevant to the current debate. Totally agree...Thats the point I was making 1 Quote Link to comment Share on other sites More sharing options...
0bserver Posted April 27, 2022 Share Posted April 27, 2022 20 minutes ago, Numbnuts said: But have we !!???. One way to find out. 1 Quote Link to comment Share on other sites More sharing options...
Kopek Posted April 27, 2022 Share Posted April 27, 2022 Ask those guys who dig Lugworms on Douglas beach? 1 Quote Link to comment Share on other sites More sharing options...
GD4ELI Posted April 27, 2022 Share Posted April 27, 2022 5 minutes ago, Youaintseenme said: That’s nice if you are fortunate enough to afford one. In the mean time gas prices rocket and the number of customers decreases, leaving those who can’t afford to switch with even more of a burden. It’s a bit like the smug folk in electric cars talking about savings who can’t grasp that for a lot of people it is a struggle to find ten quid for fuel for a trip to the shops never mind 30k to buy a new toy to jolly around the island in. Something needs to give because at the minute the middle earners with high outgoings are getting shafted. I have no idea what though. It’s a nightmare for thousands of people - me included. Looks like it may get better in 2014. Sadly, many older Manx houses are damp and cold, exceedingly difficult to heat. Unless revenue is generated with progressive tax so that government can help the truly poor I'm afraid it'll be the same through 2013. Quote Link to comment Share on other sites More sharing options...
cissolt Posted April 28, 2022 Share Posted April 28, 2022 Lots of weasel words from Alf. You would expect a chief minister to be actively involved in the islands only gas supplier going bust. https://youtu.be/VCNEWy6vths 1 Quote Link to comment Share on other sites More sharing options...
SleepyJoe Posted April 28, 2022 Share Posted April 28, 2022 On 4/27/2022 at 4:58 PM, GD4ELI said: Looks like it may get better in 2014. Sadly, many older Manx houses are damp and cold, exceedingly difficult to heat. Unless revenue is generated with progressive tax so that government can help the truly poor I'm afraid it'll be the same through 2013. Has the space/time continuum shifted, or is it me? 2 Quote Link to comment Share on other sites More sharing options...
b4mbi Posted April 28, 2022 Share Posted April 28, 2022 (edited) 3 minutes ago, SleepyJoe said: Has the space/time continuum shifted, or is it me? They're 8/9 years behind in Cornwall. Edited April 28, 2022 by b4mbi 1 Quote Link to comment Share on other sites More sharing options...
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