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30% increase in electricity prices


Amadeus
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16 minutes ago, Hugh Mungus said:

Not normally one to respond on these forums i'm a long time lurker but this is something thats got my goat enough that i feel i need to comment.
Unless i have missed something (which is entirely possible...) its not a 30% increase but a 32.25% increase just being introduced in a sneaky way.

15% increase next month followed by another 15% increase in July will result in 32.25% overall.

£100 x 1.15 = £115
£115 x 1.15 = £132.25

If they need 32.25% just tell us and don't try to hide the increase with sneaky mathematics......

Thank you for all the comments this morning....

Happy to confirm that both 15% increases will be based on the current tariffs, and not from the April tariff increase. 

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46 minutes ago, Passing Time said:

What they pay in the UK means nothing to people living on the island. UK residents can shop around for cheaper food etc which can and will help absorb any increases in utility prices. We on the Island cannot

What’s your solution to energy prices then? IOMG can’t subsidize it for everyone as the money will have to come from somewhere eg increased taxes!

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32 minutes ago, hissingsid said:

I agree with Numbnuts this increase will be the final nail in the coffin for small businesses especially in the food section people have cut back on eating and drinking out since the pandemic if prices go up, as they will, it will discourage meals out for sure.

Numbnuts??

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8 minutes ago, Banker said:

What’s your solution to energy prices then? IOMG can’t subsidize it for everyone as the money will have to come from somewhere eg increased taxes!

If I had a solution Banker, I would plaster it over every forum I could. I am just pointing out the savage effect this will have 

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18 minutes ago, Banker said:

What’s your solution to energy prices then? IOMG can’t subsidize it for everyone as the money will have to come from somewhere eg increased taxes!


Government might invest right now in the installation of some wind turbines to generate renewable energy using some of the £260m in the Sustainable Bond Reserve

This may well even over the short term provide lower cost electricity than that produced using fossil fuels when that market is in something of a crisis

Edited by SleepyJoe
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2 minutes ago, SleepyJoe said:


Government might invest right now in the installation of some wind turbines to generate renewable energy using some of the £260m in the Sustainable Bond Reserve

This may well even over the short term provide lower cost electricity than that produced using fossil fuels when that market is in something of a crisis

You can just imagine our lots efforts costing hundreds of millions!

download (8).jpeg

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