Happier diner Posted March 6, 2023 Share Posted March 6, 2023 20 minutes ago, 0bserver said: The other part of this equation is that Isle of Man Government will be taking extra VAT on people's bills through the increased prices. You can almost guarantee that money will be spaffed away on grandiose projects or sucked into the Public Sector Pensions black hole. That money needs to be put towards the MUA debt mountain. The MUA books are in the public domain. I think we will see that the debt has got bigger as a result of funding selling electricity at a loss for the last year. The latest increase won't cover the cost either. So how can you spaff a negative value. 1 Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted March 6, 2023 Share Posted March 6, 2023 From the Chris Thomas-instigated thread (aptly) titled "Lies, Damned Lies and Experts" of 2020. Lots and lots and lots of debt.... Quote Link to comment Share on other sites More sharing options...
0bserver Posted March 6, 2023 Share Posted March 6, 2023 6 minutes ago, Happier diner said: The MUA books are in the public domain. I think we will see that the debt has got bigger as a result of funding selling electricity at a loss for the last year. The latest increase won't cover the cost either. So how can you spaff a negative value. VAT goes to the government regardless of what the MUA finances look like (except if they were some how withholding it). VAT is charged as a percentage of your bill, not a percentage of MUA 'profits'. So they could spaff it away quite easily. Along with their other ill-gotten gains like refusing to raise the tax allowance. Quote Link to comment Share on other sites More sharing options...
Kopek Posted March 6, 2023 Share Posted March 6, 2023 What about if we could be provided with home pedal driven generators? For every hour on the treadmill you could be given a credit against your bill??? Win win, exercise and bill saving!!! Get us oldies of our asses? Controversial debate in the UK about the cost of 'key meters', 'least ours are standard cost/kwh. Quote Link to comment Share on other sites More sharing options...
cissolt Posted March 6, 2023 Share Posted March 6, 2023 15 minutes ago, mad_manx said: It's worse than that. From July 1st they will buy for 9p and sell for 34p !!! Locally generated renewables are resold below wholesale in the UK I was led to believe by a solar chap Quote Link to comment Share on other sites More sharing options...
Mercenary Posted March 6, 2023 Share Posted March 6, 2023 The debt figures are also before the next imminent round of investment/debt for 2x interconnectors and 30MW renewables (required to meet our 'legal obligations' under Climate Change Bill) Quote Link to comment Share on other sites More sharing options...
Kopek Posted March 6, 2023 Share Posted March 6, 2023 Trouble is, there will be extra costs in dealing with 'home generated' to get it into the grid? When I bought my house it had a key meter, I thought it would be a nuisance but no, turned out to be a simple way to keep track of costs, the key meter shows the £££££ credit, so easy to keep track of use. I use about a quid a day, so some 400 quid a year? Is that good? If I want to check an individual appliance, say, washing machine, take a background reading in quids, run the washing machine and HEY! you have the cost of the machine! Can a smart meter give you that without the same computation? Quote Link to comment Share on other sites More sharing options...
CallMeCurious Posted March 6, 2023 Share Posted March 6, 2023 1 hour ago, Mercenary said: The debt figures are also before the next imminent round of investment/debt for 2x interconnectors and 30MW renewables (required to meet our 'legal obligations' under Climate Change Bill) I'd love to see how China, India and Pakistan are going to meet their obligations in the same time frame? Quote Link to comment Share on other sites More sharing options...
majkul Posted March 6, 2023 Share Posted March 6, 2023 "It will still be cheaper than the UK". Well, that's ok than, as most wages in the Isle of Man are lower than in the UK. Unlike day to day living (food prices, household goods and all that) which is higher than the mainland. Sure way to attract the 15,000 (or how many they have been dreaming of lately) new residents to the island. The Lord Giveth (one of the most beautiful places on Earth), and the Lord Taketh away (putting greedy nincompoops in charge of it all) 2 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 7, 2023 Share Posted March 7, 2023 (edited) 4 hours ago, 0bserver said: VAT goes to the government regardless of what the MUA finances look like (except if they were some how withholding it). VAT is charged as a percentage of your bill, not a percentage of MUA 'profits'. So they could spaff it away quite easily. Along with their other ill-gotten gains like refusing to raise the tax I thought the VAT just came as a % share of UK vat revenue. Edited March 7, 2023 by Happier diner Quote Link to comment Share on other sites More sharing options...
GD4ELI Posted March 7, 2023 Share Posted March 7, 2023 3 hours ago, Happier diner said: I thought the VAT just came as a % share of UK vat revenue. Correct. Quote Link to comment Share on other sites More sharing options...
2112 Posted March 7, 2023 Share Posted March 7, 2023 11 hours ago, asitis said: https://www.manxradio.com/news/isle-of-man-news/campaigner-challenges-manx-utilities-motive-for-price-rise/ Methinks he's not wrong ! Agree. Another piece this morning on the NPM whereby @Bazza Smurfcalls for MUA to be regulated by CURA. Excellent suggestion but will never happen. Look at the Douglas Council and other public sector housing, they can be left to rot, but they are immune to standards and prosecution. CURA unfortunately has zero teeth so it can’t really impose penalties on energy providers. 2 Quote Link to comment Share on other sites More sharing options...
Hoops Posted March 7, 2023 Share Posted March 7, 2023 19 hours ago, Venus said: My electric bill is already over this. And I am in a small household of 2 and do try to keep the electric bills down. Mine averages around £100 a month, what are other people's bills like? Since the smart meter installation, we're doing £20/week. £10/week beforehand, the 20% increase hit us hard............. 1 Quote Link to comment Share on other sites More sharing options...
asitis Posted March 7, 2023 Share Posted March 7, 2023 55 minutes ago, 2112 said: Agree. Another piece this morning on the NPM whereby @Bazza Smurfcalls for MUA to be regulated by CURA. Excellent suggestion but will never happen. Look at the Douglas Council and other public sector housing, they can be left to rot, but they are immune to standards and prosecution. CURA unfortunately has zero teeth so it can’t really impose penalties on energy providers. How everyone walked away from the MEA shambles unscathed is beyond me ! I guess it's the old island adage, no one is ever accountable. 2 Quote Link to comment Share on other sites More sharing options...
Bazza Smurf Posted March 7, 2023 Share Posted March 7, 2023 1 hour ago, 2112 said: Agree. Another piece this morning on the NPM whereby @Bazza Smurfcalls for MUA to be regulated by CURA. Excellent suggestion but will never happen. Look at the Douglas Council and other public sector housing, they can be left to rot, but they are immune to standards and prosecution. CURA unfortunately has zero teeth so it can’t really impose penalties on energy providers. It would be difficult to regulate their pricing now bearing in mind they have run up so much debt. It seems to me that their pricing from this point onwards wil have nothing to do with wholesale markets, but based solely on how much debt they show in the balance book. Is that an abuse of a monopoly position? Borderline at least. 2 Quote Link to comment Share on other sites More sharing options...
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