CallMeCurious Posted March 15, 2023 Share Posted March 15, 2023 Manx inflation for Feb 2023 at CPI @ 9% (+1% on Jan 23) or RPI @10.2% (+1.5% on Jan 23) and that is without electricity hike. Eggs up 56.2% Gas up 60.4% Air Travel -13.1% Bus/Coach -10.2% 'Housing, water, electricity, gas and other fuels' continues to be the biggest contributor to the rate of inflation with an increase of 20.2%, with 'Gas' seeing the biggest increase in this category of 60.9%. 'Food and non-alcoholic beverages', has seen the second biggest increase contributing 18.3% to the overall CPI, with prices rising 5.4% on the previous month. Around three quarters of all subcategories in 'Food and non-alcoholic beverages' exhibit increases higher than the overall rate of inflation, with eggs, milk, and dairy products all seeing large rises. 'Biscuits and cakes', has seen the single biggest increase in this category, up 62.2% compared to 12 months ago. The third biggest contributor to the rate of inflation was 'Restaurants and Hotels' contributing 12.1% to the overall CPI. 'Catering' has seen the biggest increase in this category (12.5%). Quote Link to comment Share on other sites More sharing options...
Ham_N_Eggs Posted March 15, 2023 Share Posted March 15, 2023 1 hour ago, TheTeapot said: https://www.manxradio.com/news/isle-of-man-news/manx-utilities-records-30-million-loss-during-2021-22/ They lost £30m. The year before they made a £26m profit, although no one talks about that. Pay up suckers. Just goes to show they have no intention of ever passing on a reduction in gas prices to the consumer. They shouldn't be making a profit they should reduce the price of the electric to end up cost neutral. 1 Quote Link to comment Share on other sites More sharing options...
NoTailT Posted March 15, 2023 Share Posted March 15, 2023 (edited) 4 minutes ago, Ham_N_Eggs said: Just goes to show they have no intention of ever passing on a reduction in gas prices to the consumer. They shouldn't be making a profit they should reduce the price of the electric to end up cost neutral. Is Manx Gas still buying via MUA? So it'll mean Manx Gas customers continue to be penalised too? How do you expect renewable investment to happen without profits to pay for it? Edited March 15, 2023 by NoTailT Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 15, 2023 Share Posted March 15, 2023 8 minutes ago, Ham_N_Eggs said: Just goes to show they have no intention of ever passing on a reduction in gas prices to the consumer. They shouldn't be making a profit they should reduce the price of the electric to end up cost neutral. I'm sorry to say this isnt right. Gas is still more than double what it cost last time electricity tariffs were altered. How can you pass on a saving you haven't made? 1 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 15, 2023 Share Posted March 15, 2023 5 minutes ago, NoTailT said: Is Manx Gas still buying via MUA? So it'll mean Manx Gas customers continue to be penalised too? How do you expect renewable investment to happen without profits to pay for it? Renewable investment will have to come from government. To say MUA have no money would be a massive understatement. Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 15, 2023 Share Posted March 15, 2023 (edited) 44 minutes ago, Banker said: Oil & gas prices are continuing to fall so hopefully that will feed through to lower gas prices unless they’ve purchased a large amount of gas forward at very high prices Still some way to go Edited March 15, 2023 by Happier diner Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted March 15, 2023 Share Posted March 15, 2023 2 minutes ago, Happier diner said: Renewable investment will have to come from government. To say MUA have no money would be a massive understatement. They can take a sharp axe to their culture, benefits and perks. There are savings to be made there, some notable. What is lacking is the political stomach, spine and testicles. 2 1 1 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 15, 2023 Share Posted March 15, 2023 3 minutes ago, Non-Believer said: They can take a sharp axe to their culture, benefits and perks. There are savings to be made there, some notable. What is lacking is the political stomach, spine and testicles. They will never save 1/2 a billion quid by making cuts. Never 1 Quote Link to comment Share on other sites More sharing options...
Ham_N_Eggs Posted March 15, 2023 Share Posted March 15, 2023 19 minutes ago, Happier diner said: I'm sorry to say this isnt right. Gas is still more than double what it cost last time electricity tariffs were altered. How can you pass on a saving you haven't made? Are you okay because you're coming across a bit Notwell? My point was about the £26 million profit that was made off the back of us, their customers. As a state owned entity at the time they were paying less for gas that should have been passed on to us by a reduction in the price we pay for electric. It wasn't and as far as I can recall it never has been. Instead they profited off us. 2 Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted March 15, 2023 Share Posted March 15, 2023 23 minutes ago, Happier diner said: They will never save 1/2 a billion quid by making cuts. Never They can start somewhere, every little helps, as the man said. If nothing else it would show some willing, except of course it would impact upon themselves and we could never have that. At present they have a Rolls Royce culture with the operational finances of a battered Ford Fiesta, expecting somebody else to continue to pay for the running of that Rolls Royce. 3 Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted March 15, 2023 Share Posted March 15, 2023 10 hours ago, GD4ELI said: I actually agree with the original proposal, what was wrong was the barely legal way they went about it. I wouldn't replace the station today, I'd get the interconnectors upgraded and add onshore wind. I'd also put incentives in place to get solar panels on rooves. I just had this done, VAT free. Well, if the press reports at the time the power station was built are to be believed it will need to be either replaced or substantially renewed in 2035. Where's the money coming from to do that (whilst we wait for the wind turbines to be procured, built, installed and operating)?? Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 15, 2023 Share Posted March 15, 2023 1 hour ago, Ham_N_Eggs said: Are you okay because you're coming across a bit Notwell? My point was about the £26 million profit that was made off the back of us, their customers. As a state owned entity at the time they were paying less for gas that should have been passed on to us by a reduction in the price we pay for electric. It wasn't and as far as I can recall it never has been. Instead they profited off us. The profit was operating profit and if you read the report you will see it was used to pay off some of the bond. It was not net profit. Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 15, 2023 Share Posted March 15, 2023 43 minutes ago, Andy Onchan said: Well, if the press reports at the time the power station was built are to be believed it will need to be either replaced or substantially renewed in 2035. Where's the money coming from to do that (whilst we wait for the wind turbines to be procured, built, installed and operating)?? There won't be anymore power stations. Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 15, 2023 Share Posted March 15, 2023 1 hour ago, Non-Believer said: They can start somewhere, every little helps, as the man said. If nothing else it would show some willing, except of course it would impact upon themselves and we could never have that. At present they have a Rolls Royce culture with the operational finances of a battered Ford Fiesta, expecting somebody else to continue to pay for the running of that Rolls Royce. Yes I don't disagree with that. All organisations should be efficient. I don't know enough about them to comment but it seems to be a compelling arguement. What I was saying though is that it's not going to turn things around for them and us. It isn't going to make electricity much cheaper But yes, it would help to some extent. Quote Link to comment Share on other sites More sharing options...
0bserver Posted March 15, 2023 Share Posted March 15, 2023 2 hours ago, Ham_N_Eggs said: Just goes to show they have no intention of ever passing on a reduction in gas prices to the consumer. They shouldn't be making a profit they should reduce the price of the electric to end up cost neutral. They'll be lumping that £26m into their legacy debt payments. They have several hundred million to to. Quote Link to comment Share on other sites More sharing options...
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