Fred the shred Posted January 25 Share Posted January 25 I wonder how much of that 44 million that was put aside for green projections is left, drip, drip, all these preliminary investigations and surveys will be costing plus the salaries of the committee that was formed. All this expensive posturing and willy waving for a couple of oversized windmills which will probably get damaged in the first storm especially as now apparently we are on the cusp of tornados 🤣. By the time they have decided where to put them they will be out of date and ten to one they will buy second hand blades which won’t fit onto the main structures. I am not being cynical just going by the track record of a government who for decades have specialised in trading with snake oil salesmen. 8 1 Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted January 25 Share Posted January 25 2 hours ago, Happier diner said: My research tells me by exploration. Yes they subcontract some aspects like drilling but I reckon they do the exploration themselves as they don't want the risk of having to bid at auction for gas fields. They are known as E&P companies. Exploration and production. Did Crogga even know if we had regulations? Actually I was referring to the fact that big energy companies purchase the smaller companies that have already done the hard bit.... the exploration. The big money is on developing the pay-zone into a full field development and it's the big boys that usually cough up for that after they've purchased wells with confirmed reservoirs. I don't know of any of the majors that operate their own fields, it's all contracted out to service providers. 1 1 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted January 25 Share Posted January 25 2 hours ago, Andy Onchan said: Actually I was referring to the fact that big energy companies purchase the smaller companies that have already done the hard bit.... the exploration. The big money is on developing the pay-zone into a full field development and it's the big boys that usually cough up for that after they've purchased wells with confirmed reservoirs. I don't know of any of the majors that operate their own fields, it's all contracted out to service providers. Contracting out is common in all industries and oil and gas is no different. The company paying the subcontractor is still the entity that is doing the exploring. So, if BP wanted to explore our seas because they thought there might be oil they might engage a small company to do it on their behalf. The crogga situation was not the same. They didn't seem to have any actual money or the know with all because they had not thought about how they would deal with the regulations. It seems a bit amateurish to say they didnt know the IOm had no regulations. Were they just speculating? 1 Quote Link to comment Share on other sites More sharing options...
Blade Runner Posted January 25 Share Posted January 25 28 minutes ago, Happier diner said: Contracting out is common in all industries and oil and gas is no different. The company paying the subcontractor is still the entity that is doing the exploring. So, if BP wanted to explore our seas because they thought there might be oil they might engage a small company to do it on their behalf. The crogga situation was not the same. They didn't seem to have any actual money or the know with all because they had not thought about how they would deal with the regulations. It seems a bit amateurish to say they didnt know the IOm had no regulations. Were they just speculating? Crogga have at least one industry professional, much like the small oil Co's I have bought a few speculative shares in. This is how it works, the little companies raise just enough cash to "prove" a well, then sell out to make a fortune (Return on expenditure type fortunes) for themselves to the big guys who then develop the well and pay the licence holder, i.e. IOM Gov, a percentage of their extraction of gas/ oil revenue. Does anyone really think Chris whatshisname, the ex MHK would be running a fully fledged gas production co? 2 Quote Link to comment Share on other sites More sharing options...
Dirty Buggane Posted January 25 Share Posted January 25 Just call it exploration but at arms length and the whole of the house of keys and comin will start creaming themselves into a frenzied state. 3 Quote Link to comment Share on other sites More sharing options...
Banker Posted January 26 Share Posted January 26 Anyone had electricity bill very recently, mine was 50% up on last quarter so queried it, explanation was winter quarter, they checked against last year similar units consumption but main problem was last winter 22p this winter 30p ! However helpful chap said they hope to reduce this year with gas prices falling!!! 1 Quote Link to comment Share on other sites More sharing options...
Dirty Buggane Posted January 26 Share Posted January 26 Lucky you were unable to see his nose, would of had your eye out 😜 2 Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted January 26 Share Posted January 26 6 minutes ago, Banker said: Anyone had electricity bill very recently, mine was 50% up on last quarter so queried it, explanation was winter quarter, they checked against last year similar units consumption but main problem was last winter 22p this winter 30p ! However helpful chap said they hope to reduce this year with gas prices falling!!! I for one will be very, very surprised if electricity prices here fall in line with wholesale gas price reductions. Some fall, certainly but I don't think that the state of MUA finances will see the potential full reductions. We still have another rise scheduled to come in April yet gas prices have already been falling for some time. Obviously it all pivots on how far ahead MUA purchase though. 1 Quote Link to comment Share on other sites More sharing options...
Fred the shred Posted January 26 Share Posted January 26 Apparently they forward purchased when the cost was very high and now it is hurting also we were told that we were cushioned last winter from the high cost. What really hacks me off is every time there is an increase in unit price the standing charges go up, how can that be justified. The MUA finances are in a mess and how they can even dream of investing in wind power or anything else when they haven’t a feather to fly with is unbelievable. 1 3 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted January 26 Share Posted January 26 1 hour ago, Fred the shred said: Apparently Or actually? Quote Link to comment Share on other sites More sharing options...
finlo Posted January 26 Share Posted January 26 4 hours ago, Fred the shred said: Apparently they forward purchased when the cost was very high and now it is hurting also we were told that we were cushioned last winter from the high cost. What really hacks me off is every time there is an increase in unit price the standing charges go up, how can that be justified. The MUA finances are in a mess and how they can even dream of investing in wind power or anything else when they haven’t a feather to fly with is unbelievable. It's a great plan though, using our money to buy stuff to make cheap (free) electricity that they then sell to up at an eye watering price! 2 Quote Link to comment Share on other sites More sharing options...
CallMeCurious Posted January 26 Share Posted January 26 6 hours ago, Banker said: Anyone had electricity bill very recently, mine was 50% up on last quarter so queried it, explanation was winter quarter, they checked against last year similar units consumption but main problem was last winter 22p this winter 30p ! However helpful chap said they hope to reduce this year with gas prices falling!!! My bet is it'll come about in time to nerf the March inflation figure downwards so Allinson can use it to tell us we've never had it so good whilst once again not raising the tax thresholds. Or reducing NI. Got to keep topping up the pensions trough. Quote Link to comment Share on other sites More sharing options...
finlo Posted January 26 Share Posted January 26 6 hours ago, Banker said: Anyone had electricity bill very recently, mine was 50% up on last quarter so queried it, explanation was winter quarter, they checked against last year similar units consumption but main problem was last winter 22p this winter 30p ! However helpful chap said they hope to reduce this year with gas prices falling!!! 22p to 30p is not a 50% increase! Quote Link to comment Share on other sites More sharing options...
Happier diner Posted January 27 Share Posted January 27 11 hours ago, finlo said: It's a great plan though, using our money to buy stuff to make cheap (free) electricity that they then sell to up at an eye watering price! There is no free electricity. The capital cost of the windfarm and the solar panels has to be paid and the infrastructure has to be maintained. The difference between wind energy and gas derived energy from turbines is that the fuel is free on a wind turbine. That could make it about 50% of the cost. Will bills reduce? Well not in our lifetime as the power station isn't paid for yet and we need to invest in at least 1 new interconnector. Does that make wind energy a poor choice? Personally I don't think so but the margins are right. Quote Link to comment Share on other sites More sharing options...
asitis Posted January 27 Share Posted January 27 11 hours ago, finlo said: It's a great plan though, using our money to buy stuff to make cheap (free) electricity that they then sell to up at an eye watering price! Could be the only way to support the debt sadly ! Quote Link to comment Share on other sites More sharing options...
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