Celt Posted January 10, 2006 Share Posted January 10, 2006 During My research into Manx gas prices I came across something which I found supprising. I always though and was led to believe that Manx Gas was owned by International Energy Group Ltd who are based in Guernsey and Jersey. However it seems that they were bought out in May 2005 by Babcock and Brown Infrastructure from Downunder. http://www.i-e-g.com/ I can't seem to remember anything about this being mentioned in any Local Media and would have thought that as it would directly effect the Public and the Government with regards gas pricing it would have. The good thing about Babcock and Brown is that they seem to have a very good website where you can see how they use and where they earn their monies. It makes a good read. http://www.primeinfrastructure.com.au/repo...x?NavItemID=339 Pity I can't find out how much profit Manx Gas made last year. If anyone has any ideas on how to find this out, (legally), I would love to know. Nice to be kept informed as to what is going on with a Monopoly company in the Isle of Man. What background infomation can a Australian based company have about the Manx Publics living costs apart from " Charge what you like and they'll pay it " mentallity. Link to comment Share on other sites More sharing options...
manxchatterbox Posted January 10, 2006 Share Posted January 10, 2006 Celt - think you might have a "scoop" there...I'm getting on a bit and maybe my memory isn't the greatest but I think I'm sure I didn't see anything in either IOM Newspapers or hear anything about it by the alleged "voice of the nation"....its not surprising really as when did you ever read/hear a story due to 'investigative journalism' 'cos there aren't any.... only reporters..who unless someone says to the contrary aren't even able to do that job.... ...back to the subject of Babacock & Brown....another investment co like the current owners of IOMSPCo... ....neither will have any great altruistic intentions towards the well being of the public...the directors of those companies are only interested in generating the maximum return they can for their shareholders and in the meantime collecting whatever performance bonuses they can along the way.....who pays for this?...JoeP!!! Link to comment Share on other sites More sharing options...
cheesemonster2005 Posted January 10, 2006 Share Posted January 10, 2006 During My research into Manx gas prices I came across something which I found supprising. I always though and was led to believe that Manx Gas was owned by International Energy Group Ltd who are based in Guernsey and Jersey. However it seems that they were bought out in May 2005 by Babcock and Brown Infrastructure from Downunder. Nice to be kept informed as to what is going on with a Monopoly company in the Isle of Man. What background infomation can a Australian based company have about the Manx Publics living costs apart from " Charge what you like and they'll pay it " mentallity. Surely any energy monopoly should be government owned and operated? What's the advantage for the island of having a private company operating an energy monopoly? How about a compulsory purchase for the benefit of the island? Link to comment Share on other sites More sharing options...
Gladys Posted January 10, 2006 Share Posted January 10, 2006 The takeover was reported by MR and they interviewed the new CEO (I think). Not much of a scoop I'm afraid! One way to get hold of the results is to 'phone Manx Gas and ask if they publish their accounts. If they are an IOM registered company they do not have to file accounts at the Companies Registry, but some companies may be happy to provide their accounts on request in the interests of openness. Bit of a long shot, but worth a try! Link to comment Share on other sites More sharing options...
Alias Posted January 10, 2006 Share Posted January 10, 2006 Surely any energy monopoly should be government owned and operated? What's the advantage for the island of having a private company operating an energy monopoly? How about a compulsory purchase for the benefit of the island? Regulation and no £250m public money debts..? Link to comment Share on other sites More sharing options...
LoneWolf Posted January 11, 2006 Share Posted January 11, 2006 The takeover was reported by MR and they interviewed the new CEO (I think). Not much of a scoop I'm afraid! One way to get hold of the results is to 'phone Manx Gas and ask if they publish their accounts. If they are an IOM registered company they do not have to file accounts at the Companies Registry, but some companies may be happy to provide their accounts on request in the interests of openness. Bit of a long shot, but worth a try! We shouldnt have to wait too long for the energy price enquiry to report. Link to comment Share on other sites More sharing options...
Celt Posted January 11, 2006 Author Share Posted January 11, 2006 How about a compulsory purchase for the benefit of the island? The only compulsory purchase needed would be the possesion of the Mains Network. Manx Gas would be left as a company in it's own right but would then have to compete in an open market with the MEA who sell them the gas. However much it cost to buy the Mains Network, the Government through the MEA would eventually get their money back and make profits. Something which is rarely seen in a Government run system at the moment. Once I've finished My research I will be submiting it to OFT for the survey ongoing at present and also passing it on to the Media. The results so far beggar belief into what the Manx Public are having to pay compered to mainland UK, Northern Ireland and Eire. It will be interesting to see if anything is done about it and how many job losses will have to happen before the Government do anything about it. It's a sorry state off affairs when, imo, these extortionate prices are allowed to be charged unabated by the present Government. It's the Electorate who is bearing the brunt of these prices, the man on the street, yet the picture presented is one of Global unrest so thats the price We have to pay. Absolute garbage. In fact I'll post the results on here as well and everyone can make their own minds up. If anyone wants a headstart try checking the prices on the UK suppliers sites, you'll be supprised. Link to comment Share on other sites More sharing options...
LoneWolf Posted January 11, 2006 Share Posted January 11, 2006 Once I've finished My research I will be submiting it to OFT for the survey ongoing at present and also passing it on to the Media. The results so far beggar belief into what the Manx Public are having to pay compered to mainland UK, Northern Ireland and Eire. It will be interesting to see if anything is done about it and how many job losses will have to happen before the Government do anything about it. It's a sorry state off affairs when, imo, these extortionate prices are allowed to be charged unabated by the present Government. It's the Electorate who is bearing the brunt of these prices, the man on the street, yet the picture presented is one of Global unrest so thats the price We have to pay. Absolute garbage. Sounds as if you are doing a grand job here. It will be really interesting to see the difference between wholesale gas prices and the price charged at our meters. Could you let us know where you are getting information from for the wholesale gas prices ? Ive tried myself but just cant find a source on the net which doesnt require an arm and leg for data subscription charges. Link to comment Share on other sites More sharing options...
LoneWolf Posted January 21, 2006 Share Posted January 21, 2006 In fact I'll post the results on here as well and everyone can make their own minds up. If anyone wants a headstart try checking the prices on the UK suppliers sites, you'll be supprised. Celt, Ive been checking this thread every day to see your latest, any news as yet ? Link to comment Share on other sites More sharing options...
Celt Posted January 21, 2006 Author Share Posted January 21, 2006 Just need to need to sort out my final price checks and then I should be sorted. As you can imagine this is a biggy but hopefully I should have a draft by the end off the week. But it's looking very interesting, I just hope all the hard work will make a difference. The good thing is as we're in an election year it should be albe to be used. I just hope it's not for the wrong reasons thought. Link to comment Share on other sites More sharing options...
LoneWolf Posted January 22, 2006 Share Posted January 22, 2006 Just need to need to sort out my final price checks and then I should be sorted. As you can imagine this is a biggy but hopefully I should have a draft by the end off the week. But it's looking very interesting, I just hope all the hard work will make a difference. The good thing is as we're in an election year it should be albe to be used. I just hope it's not for the wrong reasons thought. Dont worry about people using your work for the wrong reasons. It sounds as if you are putting considerable effort into this and an internet forum is one place where you can be certain your data will reach a wider audience than just one or two civil servants who may or may not decide to place some value on what you've done. Ill keep looking .Cheers Link to comment Share on other sites More sharing options...
Beckett Posted January 22, 2006 Share Posted January 22, 2006 Will you be posting a copy on the Board? Link to comment Share on other sites More sharing options...
Hugh Jampton Posted January 22, 2006 Share Posted January 22, 2006 Manx gas goes walkabout. I thought it may be about their meter readers. I saw one the other day looking cold and wet on my doorstep but he was cheerful enough Link to comment Share on other sites More sharing options...
manxchatterbox Posted January 22, 2006 Share Posted January 22, 2006 how can Scottish Power offer a capped fixed price till Sept 2007??? - who supplies Manx Gas??? Link to comment Share on other sites More sharing options...
LoneWolf Posted January 22, 2006 Share Posted January 22, 2006 how can Scottish Power offer a capped fixed price till Sept 2007??? - who supplies Manx Gas??? You would need to ask Scottish Power the first part of your question. You would have to guess they have hedged a good part of their projected gas requirement over the next 2 years or so. Wont look such a good deal if the price of wholesale gas falls though. As for the second part of your question dont you ever read the newspapers, listen to Manx Radio or read the posts on this forum ? Have you not read the PKF report ? Manx Gas buy their gas on the gas markets through MEA who seem to act as a broker for them. According to PKF (page 26) MEA do not add any premium or profit margin to the gas cost but just pass it through at whatever cost it has been bought for. Sorry to be so incredulous on this one at your apparent lack of knowledge. But this particular question has been dealt with so many times by so many different people that I would have thought everyone on the Island would have been fully informed. Link to comment Share on other sites More sharing options...
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