Manx Gas MEGA Price Rise

[BriT]

26 minutes ago, SleepyJoe said:

The contract that guarantees them 5% [previously 9%] return on capital employed?

Let’s not forget they put all their staff on a 20% pay cut over covid. So perhaps if they are now getting guaranteed profits they could confirm that they’re back to paying all staff what they were getting before covid? 

[Happier diner]

5 minutes ago, Andy Onchan said:

So you don't think there'll be a termination clause?

Probably. Possibly. It wont be free to invoke. We don't know. That's not the same as refusing to give them gas and putting them out of business though is it?

[Happier diner]

35 minutes ago, BriT said:

Yes it bankrupted many providers which was my point.

We don't have one though do we?

[WTF]

7 minutes ago, Happier diner said:

Probably. Possibly. It wont be free to invoke. We don't know. That's not the same as refusing to give them gas and putting them out of business though is it?

if they where in arrears with payments as claimed somewhere or other the mea have every right to not supply them

[Happier diner]

Just now, WTF said:

if they where in arrears with payments as claimed somewhere or other the mea have every right to not supply them

Well I guess that's possible. I think they would still have to be given an opportunity to pay but yes that would be an escape clause.

[SleepyJoe]

They've said they're currently up-to-date with payments

Their revenue tho' is surely about to enter a downward spiral?

 

Edited August 15, 2022 by SleepyJoe

[Gizo]

Not exactly Manx Gas but anyway I'm not an egotist to start a new thread.

My leccy bill has been estimated over by 23 units and I can't be bothered to call and change for about £4 difference, which got me thinking considering the price of leccy is likely yo increase shortly, can you call up and say the leccy estimate is wrong and add say another 200 odd units to the the bill?

[Happier diner]

11 minutes ago, Gizo said:

Not exactly Manx Gas but anyway I'm not an egotist to start a new thread.

My leccy bill has been estimated over by 23 units and I can't be bothered to call and change for about £4 difference, which got me thinking considering the price of leccy is likely yo increase shortly, can you call up and say the leccy estimate is wrong and add say another 200 odd units to the the bill?

You certainly could

Technically its fraud though so I wouldn't overegg it too much👍

[Bandits]

Looks like Jersey has a grip of the issues

https://www.bailiwickexpress.com/jsy/news/electricity-hikes-expected-uk-will-not-happen-here-says-je-boss/

[Asthehills]

2 minutes ago, Bandits said:

Looks like Jersey has a grip of the issues

https://www.bailiwickexpress.com/jsy/news/electricity-hikes-expected-uk-will-not-happen-here-says-je-boss/

I don’t get the point of this post tbh?  Care to enlighten me?

[Bandits]

9 minutes ago, Asthehills said:

I don’t get the point of this post tbh?  Care to enlighten me?

It’s self explanatory. They haven’t had to subsidize the big consumers to the tune of £18M like the MUA has as they seem to have a very effective hedging strategy to keep electricity costs down. 

[Non-Believer]

They don't have a £180M power station that cost the thick end of £500M, to try and finance either...

[The Phantom]

14 minutes ago, Bandits said:

It’s self explanatory. They haven’t had to subsidize the big consumers to the tune of £18M like the MUA has as they seem to have a very effective hedging strategy to keep electricity costs down. 

 

2 minutes ago, Non-Believer said:

They don't have a £180M power station that cost the thick end of £500M, to try and finance either...

They get their power from France.  It has been threatened to be turned off over the fishing rights before. 

I would have thought that their electricity rates would be dictated by the French grid in that case.  The French have already been described as 'drinking champagne whilst the titanic sinks due' to the following:

In January, the French government forced the state-owned energy provider, Électricité de France (EDF), to cap wholesale price rises to 4% for a year, at a cost of €8.4bn (£7bn).

France had already announced a one-off €100 (£84) payment last year to 5.8 million households receiving energy vouchers. Since then, it has also reduced taxes on electricity.

According to Bruegel, a Brussels-based think tank, France is expected to spend €45bn (£38bn) to support people through the cost of living crisis.

[Bandits]

1 hour ago, The Phantom said:

 

They get their power from France.  It has been threatened to be turned off over the fishing rights before. 

I would have thought that their electricity rates would be dictated by the French grid in that case.  The French have already been described as 'drinking champagne whilst the titanic sinks due' to the following:

It’s mostly nuclear so likely de-linked from the current gas crisis. 

[The Phantom]

3 minutes ago, Bandits said:

It’s mostly nuclear so likely de-linked from the current gas crisis. 

From the Times today:

Meanwhile, the heatwave has caused havoc for power supplies as water levels in the Rhine have fallen so low as to inhibit the transport of coal and diesel to power plants along the river, he said.

“To make matters worse, warm temperatures have rendered cooling operations at riverside power stations inefficient. The reduction in water levels has also stopped several nuclear power plants from drawing more water from the river for crucial cooling processes.”