Banker Posted February 25, 2022 Share Posted February 25, 2022 Apparently there’s a Tynwald briefing from Crogga & the anti Crogga sides next week so decisions can be made. Given what’s happening in Ukraine & Italy considering reopening coal fired plants it seems a no brainer to explore Crogga 4 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted February 25, 2022 Share Posted February 25, 2022 45 minutes ago, Banker said: Apparently there’s a Tynwald briefing from Crogga & the anti Crogga sides next week so decisions can be made. Given what’s happening in Ukraine & Italy considering reopening coal fired plants it seems a no brainer to explore Crogga If the Ukraine conflict drags on for 10 years then yes, it might just be worth it 1 Quote Link to comment Share on other sites More sharing options...
Banker Posted February 26, 2022 Share Posted February 26, 2022 Prices to be linked to wholesale costs that’s a large rise coming in April https://www.bbc.co.uk/news/world-europe-isle-of-man-60528318?fbclid=IwAR33jcwP8SKaeJFmI_vIpMfzhwWYLrmYr3hyehKqJeONtvvYHO0c5MI_5zg Quote Link to comment Share on other sites More sharing options...
GD4ELI Posted February 26, 2022 Share Posted February 26, 2022 2 hours ago, Banker said: Prices to be linked to wholesale costs that’s a large rise coming in April https://www.bbc.co.uk/news/world-europe-isle-of-man-60528318?fbclid=IwAR33jcwP8SKaeJFmI_vIpMfzhwWYLrmYr3hyehKqJeONtvvYHO0c5MI_5zg yep, also what about the electricity increase? My quote for June with OVO is twice my current rate. Quote Link to comment Share on other sites More sharing options...
Banker Posted February 26, 2022 Share Posted February 26, 2022 6 hours ago, GD4ELI said: yep, also what about the electricity increase? My quote for June with OVO is twice my current rate. Probably 10% plus say 25/30% gas Quote Link to comment Share on other sites More sharing options...
finlo Posted February 26, 2022 Share Posted February 26, 2022 5 minutes ago, Banker said: Probably 10% plus say 25/30% gas I would be amazed if our electricity unit cost doesn't double before the end of the year! 3 Quote Link to comment Share on other sites More sharing options...
A fool and his money..... Posted February 26, 2022 Share Posted February 26, 2022 On 2/25/2022 at 11:57 AM, Banker said: Apparently there’s a Tynwald briefing from Crogga & the anti Crogga sides next week so decisions can be made. Given what’s happening in Ukraine & Italy considering reopening coal fired plants it seems a no brainer to explore Crogga Is it though? Listening to the sanctions debate it seems that almost 50% of UK gas comes from the UK. Yet there is no financial benefit to the UK consumer from this as it is sold at the global market rate, meaning the UK consumer is suffering the same price rises as the rest of the world. Presumably the benefit is only to the gas producers. How will this differ here? Quote Link to comment Share on other sites More sharing options...
Happier diner Posted February 27, 2022 Share Posted February 27, 2022 16 hours ago, A fool and his money..... said: Is it though? Listening to the sanctions debate it seems that almost 50% of UK gas comes from the UK. Yet there is no financial benefit to the UK consumer from this as it is sold at the global market rate, meaning the UK consumer is suffering the same price rises as the rest of the world. Presumably the benefit is only to the gas producers. How will this differ here? That's very true to a large extent. However, as the retail price goes up, the viability of things like the Crogga gas field increases. For the consumer, there is no good news. Like you say it's about producers seeing opportunity. If the gas price goes down, the viability of these schemes falls. 1 Quote Link to comment Share on other sites More sharing options...
Amadeus Posted February 28, 2022 Share Posted February 28, 2022 Popcorn at the ready... Quote Link to comment Share on other sites More sharing options...
0bserver Posted February 28, 2022 Share Posted February 28, 2022 3 minutes ago, Amadeus said: Popcorn at the ready... Is there anyone in that room aged under 65? Quote Link to comment Share on other sites More sharing options...
Amadeus Posted February 28, 2022 Share Posted February 28, 2022 2 minutes ago, 0bserver said: Is there anyone in that room aged under 65? Maybe four or five people. You know it’s always the same people who turn up for these. 1 Quote Link to comment Share on other sites More sharing options...
0bserver Posted February 28, 2022 Share Posted February 28, 2022 On 2/26/2022 at 5:22 PM, A fool and his money..... said: Is it though? Listening to the sanctions debate it seems that almost 50% of UK gas comes from the UK. Yet there is no financial benefit to the UK consumer from this as it is sold at the global market rate, meaning the UK consumer is suffering the same price rises as the rest of the world . Presumably the benefit is only to the gas producers. How will this differ here? Well for starters we could come up with a Manx solution for a Manx problem. Any gas extracted is sold back the IOM at an agreed price. Not subject to international markets. On 2/25/2022 at 11:57 AM, Banker said: Apparently there’s a Tynwald briefing from Crogga & the anti Crogga sides next week so decisions can be made. Given what’s happening in Ukraine & Italy considering reopening coal fired plants it seems a no brainer to explore Crogga It's absolutely a no brained. So-called 'net zero' targets also need to be consigned to the bin if we're serious about sanctioning Russia. It's all fun and games with sanctions at the moment but Russia hasn't played their Ace card and upped gad prices to $2,000 a therm (yet). Quote Link to comment Share on other sites More sharing options...
Amadeus Posted February 28, 2022 Share Posted February 28, 2022 Crogga guy is trying hard to sell this as net zero good for climate project that will create hundreds of jobs in the island, £800 million in infrastructure investment, dangling the prospect of billions in revenue for IOMG in front of everyone. Quote Link to comment Share on other sites More sharing options...
Amadeus Posted February 28, 2022 Share Posted February 28, 2022 Opposing argument: yes there’s gas but a: no new wells should be created, b: gas deposits here are not easy to extract, fracking would be needed. Says Crogga promises not to use fracking which is laudable but means the project has a big risk of failure. Very high risk investment for the yet largely unknown investors. Better off to invest in existing green tech. Three main risks: Engineering and safety risk. Drilling gas wells carries a risk element. Basically can blow up. Reputation and legal risk. IOM is joining Paris agreement through UK. Possibility of legal action against island. Reputation will suffer. In spotlight for all the wrong reasons. Financial risk to island: if project fails, potential for massive cleanup costs, loss of investment benefits. Quote Link to comment Share on other sites More sharing options...
A fool and his money..... Posted February 28, 2022 Share Posted February 28, 2022 Do you get the impression we're witnessing the beginning of the latest in a series of very costly monumental cock ups? 1 Quote Link to comment Share on other sites More sharing options...
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