30% increase in electricity prices

[finlo]

8 minutes ago, SleepyJoe said:

My impression is that the Climate Board only has about £3m to utilise - the £42m is surely already allocated in department budgets?

The £42m is the wage bill of those tasked with spending the £3m!

[SleepyJoe]

In the UK money saving expert Martin Lewis is at the point of despair

[Eris]

17 minutes ago, Happier diner said:

You have changed the subject. Your sums dont add up. Now you want to build a nuclear power plant and install a new DC cable.

I dont disagree with your comments about the interconnector but surely we couldn't afford to do both these things. It's either a couple fo new cables or a nuclear power plant. Doing both is not an option. Our price would be too high.

That's the point.  Take Hinkley Point.  Funding is provided by EDF and CGNP.  It's by sale of electricity to the market that the investment is recovered.  Of course on the Island the breaking of the electricity monopoly would be invaluable, and the gas monopoly is just indefensible.  Monopolies are NEVER good for consumers.

[Andy Onchan]

1 hour ago, SleepyJoe said:

Cost of Rolls Royce Small Modular Reactors anticipated to be in the region of £2bn ea

A mere piffle. DOI have already put in a bid for three! But no budget for maintenance.

[Albert Tatlock]

5 hours ago, Youaintseenme said:

 

Sun is out and I don’t care anymore.  Have a super sunny fun filled Sunday.  I am going to park the car somewhere sunny and stay in it out of the wind to keep warm rather than out the heating on.

Tried that today. Took the family and grandkids on the steam train to Castletown and back and then Jaks for a late lunch. Cost me £180...should have just clung to a radiator on max all day for half of that 😀

[WTF]

5 hours ago, Albert Tatlock said:

Tried that today. Took the family and grandkids on the steam train to Castletown and back and then Jaks for a late lunch. Cost me £180...should have just clung to a radiator on max all day for half of that 😀

i bet the train cost more than jaks.

[wrighty]

13 hours ago, Youaintseenme said:

 

Why not cap the duty per litre of duel and help people out that way rather than profiting more each time the oil price goes up?  

Duty is a fixed amount, as opposed to tax which is a rate. So oil price going up doesn’t affect the duty collected by government (except people using less fuel means it goes down)

[cissolt]

7 hours ago, wrighty said:

Duty is a fixed amount, as opposed to tax which is a rate. So oil price going up doesn’t affect the duty collected by government (except people using less fuel means it goes down)

But the vat paid on fuels increases with the price. 

Government are never going to take a universal approach to help households, but if we followed Ireland and Italy we would be looking to reduce duty on fuels.  I would hope they would at least crunch the numbers on the benefits to the economy and not just government coffers.

[Banker]

Looks like Sunak May cut fuel duty which will automatically apply here

https://www.dailymail.co.uk/news/article-10633787/amp/Rishi-Sunak-set-CUT-tax-fuel-cost-living-fears-Spring-Statement.html

[Happier diner]

19 hours ago, Roger Mexico said:

But who is mandating it?  And on what grounds? This looks like the MUA doing the usual Manx Civil Service trick of copying what the UK is doing, even though it's been widely criticised and even the potential consumer advantages (which are disputed) may not apply here.   

I think its more that old trick of copying what the whole world is doing

[cissolt]

1 hour ago, Banker said:

Looks like Sunak May cut fuel duty which will automatically apply here

https://www.dailymail.co.uk/news/article-10633787/amp/Rishi-Sunak-set-CUT-tax-fuel-cost-living-fears-Spring-Statement.html

5p a litre is a token gesture at best.  Has Mr Ashford conceded that the economists are no longer split on whether this period of inflation is deemed transitory?

No doubt he will be claiming its his idea on manx radio.

[Jarndyce]

19 hours ago, Roger Mexico said:

But who is mandating it?  And on what grounds? This looks like the MUA doing the usual Manx Civil Service trick of copying what the UK is doing, even though it's been widely criticised and even the potential consumer advantages (which are disputed) may not apply here.   

Swap MUA for DHSC in the statement above and you have the creation of Manx Care in a nutshell.

Edited March 21, 2022 by Jarndyce
One word added

[Banker]

Rob is on Mannin line Wednesday so ring your questions in!

[Amadeus]

[Andy Onchan]

On 3/20/2022 at 2:19 PM, Eris said:

That's the point.  Take Hinkley Point.  Funding is provided by EDF and CGNP.  It's by sale of electricity to the market that the investment is recovered.  Of course on the Island the breaking of the electricity monopoly would be invaluable, and the gas monopoly is just indefensible.  Monopolies are NEVER good for consumers.

https://www.wsj.com/articles/u-s-rethinks-uranium-supply-for-nuclear-plants-after-russias-invasion-of-ukraine-11647941401

It's a pay wall but the first few paragraphs are enough so you get the message.