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Manx Gas MEGA Price Rise


James Blonde
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2 hours ago, Non-Believer said:

Tell Alex Allinson. I'm sure he'll be more than willing to incorporate that into his next good news release. Remind him to tell us why we're paying our "Toilet Tax" Sewage Charge too.

Hamstrung by the MEA antics coupled with the current situation ....... a perfect storm !

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2 hours ago, Non-Believer said:

And yet our Gas comes from an interconnector on the UK/Ireland pipeline. It's not like we have our own, particularly rare and expensive type of Gas. In fact, the only thing that makes it that expensive is the involvement and interaction of the MUA and MG.

So perhaps people need to be seeing some figures from both MG and IoMG explaining the huge disparity?

MG make 5% profit regardless of price.  This is based on EBITDA, which is easily manipulated.  

Gas prices have been volatile, but one thing's for sure Manx gas are making at least 5% profit guaranteed by government 

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I just pulled this shot off FB, the shown poster had posted it in a discussion about Gas prices. It purports to show recent years turnover for Ancala LLP, though what contribution MG makes to this is unclear.

 

Screenshot_20220806-110537_Facebook.jpg

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1 hour ago, cissolt said:

MG make 5% profit regardless of price.  This is based on EBITDA, which is easily manipulated.  

Gas prices have been volatile, but one thing's for sure Manx gas are making at least 5% profit guaranteed by government 

That's the trouble with contracts, companies run with them.

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11 minutes ago, SleepyJoe said:

Does the contract allow for 44% price increases?

I have no idea. I thought it was a formula based upon the wholesale price. Its been discussed on here many times. Didn't our resident stato @Roger Mexico explain it once. 

Whatever the formula, if they can only put it up 44% I'd say we were doing pretty well out of it. 

Screenshot_20220806-163111_Chrome.jpg

Edited by Happier diner
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9 hours ago, Roxanne said:

Yesterday on radio 4 it stated that in the period May/August 2.4 million U.K. customers used far less power than usual for the time of year. It was thought that most of them were ‘disadvantaged’ financially.

While there are people who can, relatively easily, budget for huge amounts of power and it still not affect their overall cash flow, then ‘we have no problem’. As ever, it’s the ones at the bottom who will suffer the most. They are also the ones least likely to take to the streets. 

Also the ones most likely to be ignored or attacked by authority.

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