P.K. Posted March 20, 2023 Share Posted March 20, 2023 8 minutes ago, GD4ELI said: Wasn't a subsidiary company created to take out the loan as it wasn't a statuary body / MEA? It wasn't created it was already in existence. Quote Link to comment Share on other sites More sharing options...
John Wright Posted March 20, 2023 Share Posted March 20, 2023 15 minutes ago, GD4ELI said: Wasn't a subsidiary company created to take out the loan as it wasn't a statuary body / MEA? 7 minutes ago, P.K. said: It wasn't created it was already in existence. No, it wasn’t specifically set up to circumvent Treasury approval, but the loan was taken out by it to circumvent them. It’s a bit chicken & egg. The regulations were circumvented. 1 Quote Link to comment Share on other sites More sharing options...
P.K. Posted March 20, 2023 Share Posted March 20, 2023 Manx Cable Company Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 20, 2023 Share Posted March 20, 2023 35 minutes ago, P.K. said: Errrr the issue may not have been about financial regulations per se, although Mr Proffitt was clearly in a difficult position around having a possible vested interest, but rather it was about accountability. As an ex-pm how there was no project reporting up the food chain is just beyond belief. That's of course very true. It was a scandal there is no doubt. I was merely clarifying how I understood what happened. I wasn't excusing it. If it happened now then Profitt would be committing an offence at worst and gross misconduct at best. 1 Quote Link to comment Share on other sites More sharing options...
asitis Posted March 20, 2023 Share Posted March 20, 2023 1 hour ago, Happier diner said: That's of course very true. It was a scandal there is no doubt. I was merely clarifying how I understood what happened. I wasn't excusing it. If it happened now then Profitt would be committing an offence at worst and gross misconduct at best. His involvement, particularly with Barclays was very questionable to say the least ! 1 Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted March 20, 2023 Share Posted March 20, 2023 It shouldn't be forgotten that no small part of blame was apportioned to Treasury itself for being asleep and not cognisant of what was going on; probably because its head of the time was more interested in convincing himself that he was some sort sort of global influencer. 1 1 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 21, 2023 Share Posted March 21, 2023 On 3/20/2023 at 8:04 AM, Banker said: Gas futures now below 100p per therm plus oil prices tumbling so energy costs should come down in a few months hopefully They used to be nearer 50p a therm not so long ago. But yes its better than going up. Still a long way to go. Looks to have levelled a bit to me Quote Link to comment Share on other sites More sharing options...
Bombay Bad Boy Posted March 24, 2023 Share Posted March 24, 2023 On 3/20/2023 at 8:04 AM, Banker said: Gas futures now below 100p per therm plus oil prices tumbling so energy costs should come down in a few months hopefully Mmm, Manx Energy reducing prices? who are they competing with? What's the roadmap for transitioning away from fossil, in terms of action, not waffle? I guess we're both optimistic 😄 https://www.bbc.co.uk/news/uk-wales-65026300 Quote Link to comment Share on other sites More sharing options...
hissingsid Posted March 24, 2023 Share Posted March 24, 2023 I suspect Banker was right when he wondered if they had forward bought a big amount when prices were sky high. 2 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 24, 2023 Share Posted March 24, 2023 5 hours ago, hissingsid said: I suspect Banker was right when he wondered if they had forward bought a big amount when prices were sky high. You suspect that something that someone wondered was right. Is that a double speculation? Quote Link to comment Share on other sites More sharing options...
CallMeCurious Posted March 24, 2023 Share Posted March 24, 2023 3 minutes ago, Happier diner said: You suspect that something that someone wondered was right. Is that a double speculation? I wonder if a double speculation becomes a fact? Quote Link to comment Share on other sites More sharing options...
cissolt Posted March 24, 2023 Share Posted March 24, 2023 5 hours ago, hissingsid said: I suspect Banker was right when he wondered if they had forward bought a big amount when prices were sky high. Sounds like it. Dr Alex was keen to stress before the pac that the price is to pay off debts and won't be coming down inline with the fall in gas price. No time window provided for the eventual decrease 2 Quote Link to comment Share on other sites More sharing options...
forestboy Posted March 24, 2023 Share Posted March 24, 2023 16 minutes ago, cissolt said: Sounds like it. Dr Alex was keen to stress before the pac that the price is to pay off debts and won't be coming down inline with the fall in gas price. No time window provided for the eventual decrease Eternity! 1 1 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 25, 2023 Share Posted March 25, 2023 7 hours ago, cissolt said: Sounds like it. Dr Alex was keen to stress before the pac that the price is to pay off debts and won't be coming down inline with the fall in gas price. No time window provided for the eventual decrease The price has always been about paying off the debts. It's basic accounting. You have to pay back the capital cost of an asset as well as the cost of operating it. How else could it work? 3 Quote Link to comment Share on other sites More sharing options...
asitis Posted March 25, 2023 Share Posted March 25, 2023 23 minutes ago, Happier diner said: The price has always been about paying off the debts. And once again no one is held accountable and we wonder why stuff like this keeps happening ! What the Isle of Man taxpayers and residents can't afford is our Government ! 3 Quote Link to comment Share on other sites More sharing options...
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