IOM Energy AKA Manx Gas

[Lilly]

1 hour ago, Andy Onchan said:

https://www.moneysupermarket.com/gas-and-electricity/social-tariffs/#:~:text=Social tariffs were introduced to,by the Warm Home Discount.

Sorry Andy,  but does that apply here too?  

[Non-Believer]

According to the front page of this weekend's Courier, "CURA is consulting on whether IoM Energy should be permitted to increase its costs of debt - and so also increase the maximum return it is allowed to generate".

Moving inside to P2, "By not allowing for the increased cost of debt the authority would be undermining its own credibility, it would incentivise MG to reduce the level of investment in its network over time which would also be detrimental to comsumers".

So there we would appear to have it. CURA recognise that MG are playing games by increasing their debt (or its appearance anyway) but CURA fear that if they intervene too much MG will wind their horns in as regards the upkeep and investment of the infrastructure.

[Fred the shred]

Manx Gas has been behind with their payments to the MEA 22 times in 12 months , sometimes the invoices have been as much as 30 days overdue and the Attorney Generals office have had to intervene .   This situation does not look great.

[John Wright]

10 hours ago, Fred the shred said:

Manx Gas has been behind with their payments to the MEA 22 times in 12 months , sometimes the invoices have been as much as 30 days overdue and the Attorney Generals office have had to intervene .   This situation does not look great.

1. Link thingy?

2. That’s how capitalist business works, often. Extending the credit period against your suppliers terms. It doesn’t signify anything on its own.

[Roger Mexico]

2 hours ago, John Wright said:

1. Link thingy?

2. That’s how capitalist business works, often. Extending the credit period against your suppliers terms. It doesn’t signify anything on its own.

Presumably from this Manx Radio story from yesterday, but that that was itself based on a (rather quick) reply to a Written Question from Watterson.

While large companies unilaterally "extending credit periods" (or not paying their bills as it's known when the rest of us do it) is common enough, they don't usually go out of their way to risk it too often with their main supplier.  The fact that it got to the 'red letter stage' on so many occasions in the last year and to Claim Forms being issued by the High Court on 4 occasions, suggests at least a careless attitude from Manx Gas (as they actually still are).

[John Wright]

34 minutes ago, Roger Mexico said:

Presumably from this Manx Radio story from yesterday, but that that was itself based on a (rather quick) reply to a Written Question from Watterson.

While large companies unilaterally "extending credit periods" (or not paying their bills as it's known when the rest of us do it) is common enough, they don't usually go out of their way to risk it too often with their main supplier.  The fact that it got to the 'red letter stage' on so many occasions in the last year and to Claim Forms being issued by the High Court on 4 occasions, suggests at least a careless attitude from Manx Gas (as they actually still are).

Yes, but in this case the main supplier is realistically unable to cut off supply.

[Fred the shred]

Link story on IOM Today yesterday.    I think there could be problems through the winter when their customers extend their credit periods i.e.  wait until the notice of withdrawal of supply comes because money is tight.    People are not going out as much as they did to restaurants and their response to this has been to increase their prices which in the long run has a negative effect.    Restaurants must be some of the biggest customers of Manx Gas if they start holding back payment there could / will be a big problem.     We have enough problems with the MEA a government run gas company is the last thing we need.   

 

 

their

[Lilly]

9 minutes ago, Fred the shred said:

Link story on IOM Today yesterday.    I think there could be problems through the winter when their customers extend their credit periods i.e.  wait until the notice of withdrawal of supply comes because money is tight.    People are not going out as much as they did to restaurants and their response to this has been to increase their prices which in the long run has a negative effect.    Restaurants must be some of the biggest customers of Manx Gas if they start holding back payment there could / will be a big problem.     We have enough problems with the MEA a government run gas company is the last thing we need.   

 

 

their

So how much longer do they get to pay their energy bills?  I always understood that in past years, businesses could stretch the invoices of suppliers of materials to  6 - 12 weeks period before payment was made.  But does that also apply to energy bills?

[Blade Runner]

2 hours ago, John Wright said:

Yes, but in this case the main supplier is realistically unable to cut off supply.

I would not read too much into this John

From my experience of IOM gov invoicing:-

The invoices will have been raised by a junior staff member called Tracey*, they will be mostly wrong but sometimes correct.

They will expect you to pay on their terms - despite other terms in place like end of month following date of invoice. Or better, when you have a specific contract that says when invoices are to be paid - They will ignore that.

Any payments you do make are not shown on their so called "Statements" that Tracey* makes up and who has no idea of accounting practice or norms.

The statements he/she does raise, even after requests to make them correct are still just a list of the invoices they have raised, nothing more, nothing in the paid column. 

Trying to engage with them does not work, as even if you ask, you cant get a "Manager" (To avoid Tracey) the Managers are "TOO BUSY" and end up dealing with Tracey again who only got the job because their mother works in the DOI/ DHSC/ DEFA or other gov Dept

*Tracy is a made up person - It is not meant to refer to anyone who works in IOMG invoicing called Tracey

 

 

[Ringy Rose]

48 minutes ago, Blade Runner said:

From my experience of IOM gov invoicing

My experience is that it’s Manx Gas who wave a damp finger in the air when it comes to invoicing customers.

The MEA haven’t- yet- sent me an electricity bill that wasn’t correct.

[Ringy Rose]

4 hours ago, Roger Mexico said:

suggests at least a careless attitude from Manx Gas (as they actually still are).

I don’t think it’s carelessness, it’s arrogance. They know the government won’t do anything to stop it, so why not carry on? It’s the vulture capitalist way.

IEG know fine well that this government doesn’t have the desire to do what they should have done long ago and let Manx Gas go bust. 

[Major Rushen]

Cancel the standing order get the bill and pay it by cheque dated the last date due by.

[Fred the shred]

In the meantime Manx Gas are sending a standard letter to all customers inviting them to increase the amount of their Standing Orders.     How many people tried to ring and couldn’t get through said sod it and put the letter in the bin.    Not many would have had the time or persistence Rox did.

[Non-Believer]

32 minutes ago, Major Rushen said:

Cancel the standing order get the bill and pay it by cheque dated the last date due by.

From experience, I wouldn't trust MG's accounting any further than I could spit it, or their estimated readings.

I'm "extending my own credit period" until I get final demands now, particularly since Govt washed their hands of the matter (IMHO) with their last Inquiry.

[SuffolkNGoode]

54 minutes ago, Non-Believer said:

From experience, I wouldn't trust MG's accounting any further than I could spit it, or their estimated readings.

I'm "extending my own credit period" until I get final demands now, particularly since Govt washed their hands of the matter (IMHO) with their last Inquiry.

Absolutely. I sent an actual reading the same day as they sent a bill with a massive overestimate re Apr/May and received email confirmation of sending reading by return. I didn't receive a replacement bill, so was debited the over-estimated amount.

Ordinarily, I'd have eaten this, except knowing the billing issues of the past 18 months I don't trust them going forward and I cancelled the direct debit.

Next bill from them a couple of weeks ago, I again sent them my reading as they almost certainly aren't reading them anymore - the guy who used to come, quite merrily used to laugh with me at how much he was making as he had the meter reading contract and IME were so far behind on instal of automated readers. As the previous bill had been such a huge overestimation I was easily in credit!

Anyhow, the next time I genuinely owe them I too will be extending my credit period until final demands and am proactively looking to replace with oil.

F*** 'em!

Edited October 1, 2023 by SuffolkNGoode