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Manx Gas MEGA Price Rise


James Blonde
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1 minute ago, offshoremanxman said:

They’ve been paid out. It’s standard private equity practice to take everything out through the top as it’s all debt funded at the end of the day. There’s never anything left in the business. No different to the old SPC owners - they all invest on a time cycle and the trick is that by the time you flip your asset to another private equity company at the end of your investment cycle the buyer will be picking up the tab for investments you never made in order to maximize all the dividends the Top Co paid out. That’s why we’re now spending £50M on new SPC ferries - the investment was deferred by the old owner as it meant they could maximize their upstreaming of cash instead.

That's right. They are in it for the money, nothing else. There is no shame in that. Its business. It's what we signed up to. Any profits will be long gone from the business here.

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6 minutes ago, Happier diner said:

That's right. They are in it for the money, nothing else. There is no shame in that. Its business. It's what we signed up to. Any profits will be long gone from the business here.

And that's why we should look to end this ridiculous arrangement. It's simply not sustainable.

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Lets imagine Manx Gas was owned by an old Manx family/ firm.

It had been in their hands since the beginning of time.

Would we be expecting them to charge less for the gas they are selling us than they were paying for it for a couple of years?

It is not sustainable for more than a few weeks. 

Manx gas have been making 10% profit for years on an agreement with our government. I dont actually think 10% is a lot of margin for a company with sales very limited by our small size.

 

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1 hour ago, Happier diner said:

I totally agree. It will need skill and planning though. We need to protect our interests. 


What interests?

Natural gas as a home heating system has no future

Our interests lie in ensuring Tynwald commits to investing in the development of renewable energy production for affordable home heating ASAP

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I'd like to see the gas extractors and refiner's reasons for gas prices being at their current levels. This is the real reason for consumers at the end of the chain paying the prices that they are.

 

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10 minutes ago, SleepyJoe said:


What interests?

Natural gas as a home heating system has no future

Our interests lie in ensuring Tynwald commits to investing in the development of renewable energy production for affordable home heating ASAP

This is true. That's a long term view and it's right. But what about the 20,000 folks who have has boilers. NOW and bills to pay NOW. 

I agree though, It would have helped massively if we had a couple of wind turbines and some solar NOW as well. No sign of anything happening on that front. 

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39 minutes ago, Non-Believer said:

I'd like to see the gas extractors and refiner's reasons for gas prices being at their current levels. This is the real reason for consumers at the end of the chain paying the prices that they are.

 

Good luck with that. It's the Russians. Holding us all to Ransome. And we (Europe) has no other option.

If only we had some gas of our own....oh hang on a minute😅

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1 hour ago, Happier diner said:

This is true. That's a long term view and it's right. But what about the 20,000 folks who have has boilers. NOW and bills to pay NOW. 

I agree though, It would have helped massively if we had a couple of wind turbines and some solar NOW as well. No sign of anything happening on that front. 


Is it the MUA who buy the gas? There should be a question in Tynwald as to what the future holds for citizens who depend on gas heating to keep them warm in winter

Either that, or whoever does the buying should be hauled before a Tynwald committee

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23 minutes ago, SleepyJoe said:


Is it the MUA who buy the gas? There should be a question in Tynwald as to what the future holds for citizens who depend on gas heating to keep them warm in winter

Either that, or whoever does the buying should be hauled before a Tynwald committee

As should the people  who insisted new refurb public sector housing over recent years all had to have Gas heating . Oh wait , it was government who had a vested interest in more than one way.

Edited by Numbnuts
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1 hour ago, Numbnuts said:

As should the people  who insisted new refurb public sector housing over recent years all had to have Gas heating . Oh wait , it was government who had a vested interest in more than one way.

Not  sure that is true, PS housing when refurbed had gas heating put in but I think you will find that is because it meant no oil tanks and associated costs/ space and big bills to fill a tank at once.

New private houses all have gas too, its a cheapness thing from a construction point of view, no conspiracy.

Oil tanks and oil boilers are a LOT more expensive than gas boilers and a free to the house supply of pipes.

 

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9 minutes ago, SleepyJoe said:

Will new buildings standards specify heat pumps rather than gas?

Fossil fuel boilers banned from new builds from 2025 but can see this being pushed out unless prices for air/ground source heat pumps falls

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3 hours ago, SleepyJoe said:

Will new buildings standards specify heat pumps rather than gas?

I wish they would but I don't see it before 2050 if we are lucky.

It makes me sick seeing those new builds in Ballasalla with no solar or heat pumps as standard.

Don't get me wrong, we need to build houses and Dandra build a good house but unless they are made to by Building Regs they will not install any of the planet saving stuff we need.

That site has the space on the bypass route to have ground source heat pumps for all the properties.

Edited by Boris Johnson
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