Gas deposit

[A fool and his money.....]

1 hour ago, Stu Peters said:

My understanding is that the 'local' gas supply from Crogga would be at a contractually lower price averaged over a rolling 5 year period, rather than a 5 year discount period as such.

Ok, indefinitely?

[manxman1980]

7 minutes ago, A fool and his money..... said:

Ok, indefinitely?

I can't see that being the case.  Would a company really give away potential future profit?

[Happier diner]

1 hour ago, Stu Peters said:

My understanding is that the 'local' gas supply from Crogga would be at a contractually lower price averaged over a rolling 5 year period, rather than a 5 year discount period as such.

 

21 minutes ago, manxman1980 said:

I can't see that being the case.  Would a company really give away potential future profit?

 

29 minutes ago, A fool and his money..... said:

Ok, indefinitely?

Its hard to believe any company would take such a risk, making a massive investment in Gas Infrastructure, for one customer. 

[A fool and his money.....]

Because they will make money selling the rest of it to across.

[Happier diner]

5 minutes ago, A fool and his money..... said:

Because they will make money selling the rest of it to across.

How will they get it across? That'll cost em a pretty packet!

[manxman1980]

5 minutes ago, A fool and his money..... said:

Because they will make money selling the rest of it to across.

I understand that but for how long will they be willing to do that?  How many companies do you know that would be willing to give away potential profits?  What happens if the gas price falls and they start losing money on the Isle of Man supply if the UK moves away from using gas as part of their zero carbon initiatives?  

[Stu Peters]

1 hour ago, Manx17 said:

So has there been any improvement in pollution since getting rid of open fires Stu?  That has now left a lot of families not able to heat their homes properly, and now we have electricity going to go sky high too. 
I’m  not even sure what difference our small island will make in climate change. Seems all a farce to me and a waste of money, money that we don’t have to waste. until we see huge changes in big countries. I would say we would be hitting a brick wall.

Yes, in all honesty. I grew up in East Manchester in the late 50s/early 60s and remember having to wear a mask to school often because of thick industrial smog. Those of course were the good old days of dark satanic mills on every street corner, and I think the clean air act definitely did a lot of good. I agree about the difference the IOM will make to global warming, even if we went net zero tomorrow at any crippling cost. It's a decimal point with a lot of zeroes before you get to an integer.

Just spoke to Paul Craine - apparently our individual carbon footprint is so high here because in the UK a percentage of their power is from renewables, and ours isn't. Which makes sense even if it does appear to be accounting for CO2 using magic beans...

[finlo]

5 minutes ago, Stu Peters said:

Yes, in all honesty. I grew up in East Manchester in the late 50s/early 60s and remember having to wear a mask to school often because of thick industrial smog. Those of course were the good old days of dark satanic mills on every street corner, and I think the clean air act definitely did a lot of good. I agree about the difference the IOM will make to global warming, even if we went net zero tomorrow at any crippling cost. It's a decimal point with a lot of zeroes before you get to an integer.

Just spoke to Paul Craine - apparently our individual carbon footprint is so high here because in the UK a percentage of their power is from renewables, and ours isn't. Which makes sense even if it does appear to be accounting for CO2 using magic beans...

And the power than comes across the interconnector?

[Stu Peters]

3 minutes ago, finlo said:

And the power than comes across the interconnector?

I think we grow most of our own volts from gas, so the interconnector 'top up' probably won't make much difference.

[cissolt]

11 minutes ago, Stu Peters said:

I think we grow most of our own volts from gas, so the interconnector 'top up' probably won't make much difference.

Thanks Stu for continuing to post on here despite the abuse you receive. The other MHKs are not as brave.

We also seem to be exporting electricity, which is gas generated.  How is that so profitable?

Operating surplus of 26 million would suggest that the MUA can afford to absorb some of this incoming increase.  I fear for many families with the current cost of living crisis, and it's only going to get worse.

[0bserver]

1 hour ago, cissolt said:

Thanks Stu for continuing to post on here despite the abuse you receive. The other MHKs are not as brave.

We also seem to be exporting electricity, which is gas generated.  How is that so profitable?

Operating surplus of 26 million would suggest that the MUA can afford to absorb some of this incoming increase.  I fear for many families with the current cost of living crisis, and it's only going to get worse.

I think they had already planned to sink that towards the illegal MEA loan costs. 

[A fool and his money.....]

2 hours ago, cissolt said:

Thanks Stu for continuing to post on here despite the abuse you receive. The other MHKs are not as brave.

 

He loves the abuse, that's why he keeps posting.

Whatever you think of the old bugger, he's got skin like a Rhino hide, you've got to give him that.

[TheTeapot]

4 hours ago, Stu Peters said:

My understanding is that the 'local' gas supply from Crogga would be at a contractually lower price averaged over a rolling 5 year period, rather than a 5 year discount period as such.

That's allowing Crogga to dictate the licence. That's not how this should work/

[Stu Peters]

36 minutes ago, TheTeapot said:

That's allowing Crogga to dictate the licence. That's not how this should work/

Not at all, their approach seems to me to be totally transparent and honest. I'm sure any licence will be based on international best practice and subject to Tynwald approval. They care about the IOM and are trying to agree a deal which obviously rewards their shareholders well, but also serves the Island.

[Happier diner]

7 minutes ago, Stu Peters said:

Not at all, their approach seems to me to be totally transparent and honest. I'm sure any licence will be based on international best practice and subject to Tynwald approval. They care about the IOM and are trying to agree a deal which obviously rewards their shareholders well, but also serves the Island.

I would love you to be right.