Residents urged to expect a very tough 12 months

[offshoremanxman]

Typical bad reporting but it’s also a perfect example of the now default cycle of press negativity and claims of the need for further government intervention (quite how in this case) in our lives in order to allegedly make things better for us. 

https://www.manxradio.com/news/isle-of-man-news/residents-urged-to-expect-very-tough-12-months

I doubt Alf is actually ‘urging’ us to expect the worst at all as that suggests he’s rubbing his hands with glee. And making us all feel like we have to be dependents on government for anything is just bad conditioning - but it seems that governments are the answer to everything now they’ve ‘saved’ us from the viral apocalypse. One thing we can all rely on though is that we will in fact get next to bugger all from our government or anyone else to help us deal with inflation so let’s stop pretending. 

[Non-Believer]

I think the population would have more tolerance and empathy towards the situation if there was any evidence of the Government turning the knife upon itself and sharing some of the pain. As yet, it remains to be seen in any meaningful respect.

[cissolt]

Or perhaps delving into the agreements between government and manxgas? If manxgas won't show their accounts to the government, maybe some legislation is required to get the information.

Chairman Rob was keen to talk down a potential 39% electric price increase yesterday on Paul Moultons show, not sure where the 39% figure came from. 

[quilp]

He was, and here he is...

 

 

[Passing Time]

1 minute ago, quilp said:

He was, and here he is...

 

 

Thanks - as if the weather wasn't ruining my Sunday enough...

[offshoremanxman]

36 minutes ago, cissolt said:

Or perhaps delving into the agreements between government and manxgas? If manxgas won't show their accounts to the government, maybe some legislation is required to get the information.

Regardless of that though what can government actually do? This is a global gas and oil supply and demand issue that’s going to get even worse if it kicks off in the Ukraine. In effect there’s very little that can and will be done. The only net result will be more money thrown at Manx Gas to allegedly stop it going bust. If some old lady in Pully thinks there’s going to be any support with her gas bill then she’s misguided.

[TheTeapot]

Good thing the old MEA made a £20m 'surplus' last year eh? Be able to use that money to offset rising costs and help every islander out.

Edited February 20, 2022 by TheTeapot

[cissolt]

3 minutes ago, offshoremanxman said:

Regardless of that though what can government actually do? This is a global gas and oil supply and demand issue that’s going to get even worse if it kicks off in the Ukraine. In effect there’s very little that can and will be done. The only net result will be more money thrown at Manx Gas to allegedly stop it going bust. If some old lady in Pully thinks there’s going to be any support with her gas bill then she’s misguided.

Agreed, but when the company reselling the gas to us is a venture capital firm, do you believe that they are not still making a profit?  Even CEO Jo Cox stated that if there 'PROFIT' moves by more than 10% then they can request a review.  

The private Tynwald briefing by Manx Gas laying out doomsday scenarios should be made public, and by not providing their accounts to the regulator or tynwald i would suggest they are not being entirely honest with their projections of doom.

If the MUA have hedged gas prices at 50p per therm for 70% of the gas as stated by Chairman Rob, how much extra are manx gas adding on? Bearing in mind that Rob said they are not making money on the gas provided to manxgas.

[cissolt]

2 minutes ago, TheTeapot said:

Good thing the old MEA made a £20m 'surplus' last year eh? Be able to use that money to offset rising costs and help every islander out.

Be interesting to see what they are doing with the surplus.

[finlo]

3 minutes ago, cissolt said:

Be interesting to see what they are doing with the surplus.

 

[offshoremanxman]

11 minutes ago, cissolt said:

The private Tynwald briefing by Manx Gas laying out doomsday scenarios should be made public, and by not providing their accounts to the regulator or tynwald i would suggest they are not being entirely honest with their projections of doom.

I agree with that point strongly. All the accounts (Group and operating company) and the documentation should be laid bare for scrutiny but they’ll hide behind a commercial confidentiality clause. I just find it hard that all of a sudden government are apparently solving all these problems for us when we know they won’t. They don’t have the cash.

[Holte End]

17 minutes ago, TheTeapot said:

Good thing the old MEA made a £20m 'surplus' last year eh? Be able to use that money to offset rising costs and help every islander out.

So they ask treasury for £18m for smart meters, while making £20m surplus. with the rhetoric it will save consumers money in the long run, who did they think cough up the £18m. This without  Calamity Callister not knowing how much increase, we the consumers could be paying, surely some bright spark in the MUA has worked out the figures.ffs.

Edited February 20, 2022 by Holte End

[Happier diner]

14 minutes ago, cissolt said:

Be interesting to see what they are doing with the surplus.

They paid off debt

[TheTeapot]

Just now, Happier diner said:

They paid off debt

Probably just (some of) the interest.

[Happier diner]

1 minute ago, offshoremanxman said:

I agree with that point strongly. All the accounts (Group and operating company) and the documentation should be laid bare for scrutiny but they’ll hide behind a commercial confidentiality clause. I just find it hard that all of a sudden government are apparently solving all these problems for us when we know they won’t. They don’t have the cash.

It's a privately owned limited company. Good look with your wishes.