Mann O Mann

Because given the strategic importance to the IOM it makes unquestionable sense to ensure the Government has control of this asset and not controlled via outside Isle of Man interests

What utter Rubbish. The handful of local CSP directors you may have spoken to ( aka administrators ) have no clue . An investor would bite your hand off to purchase a ferry company that has a monopoly to an island with a proven long term profitability . I would add if the IOMSPC decide to list it would attract a great deal of interest from potential shareholders providing regular reliable returns ( as long as the IOMGOV stay out of running it !) If the IOM Government wanted to sell the IOMSPC tomorrow ( which they should not ) they would be able to sell to many interested ship owners at a considerable mark up to the original purchase price / operators in this space such as Grimaldi / DFDS etc would snap it up.

Not having Gas as a back up like every other country in the EU is NOT a good idea , seriously………….😂 😂😂😂😂😂 And you would need staff as well ……,, You’ve made my day 😂

For one they will not get the CFDs from the UK government which the offshore wind farms are dependant on . The windfarms lease the seabed from the UK Gov and in return the UK guarantee a minimum fixed price to the developer . The UK gov will currently not pay for CFDs for offshore windfarm in manx territorial waters . Oestad must be hoping / betting that the rules and regs change and the UK gov will change their policy and pay CFDs to windfarms outside UK waters . Without this happening The offshore Oestad wind farm will not happen . That is why they estimate 8 years in the hope that UK legislation changes .

So you don’t want Tourists coming over on planes and increasing the carbon burn on the IOM while here either? Why don’t we put a stop to all travel , shut the world economy down and become good green Marxists . Just Stop Everything!!!! FFS

Gatwick Flight Canceled again . Last flight out . Left to your own devises . Really feel sorry for the more elderly passengers who are not tech savvy trying to rebook on line . it’s an absolute sh*t show . down fly via Gatwick some traveling upto Liverpool managed to rebook but the prices went up while booking - shameful

Think it’s a good first step towards renewable energy. Glad they have gone onshore as reduced long term maintenance costs compared to offshore . They appear to have not included the required infrastructure costs to allow the grid to take the increase in electrical supply. Wonder when this will come to the surface.This will not be cheap as indicated in the Arup report!!! Let’s hope Crogga comes off to support further investment in renewables and infrastructure , without this revenue it simply will not be affordable for the IOM .

From my Google search findings , I am no expert on this subject just interested why many EU countries offer longer term mortgages when the UK and by default the IOM does not . The simplest explanation I could find is as follows ( this was a study commissioned by the SNP so read at your own peril 😞 QT The funding for UK mortgage providers also primarily relies on deposits, which are subject to variable interest rates. Other advanced economies utilise covered-bond markets to finance long-term fixed rate mortgages, transferring interest rate risks to investors instead of households UNQT This makes sense to me as to why this is possible as many EU countries like the UK experience inflation and instability etc So if this is correct why don’t the UK banks offer this long term option ? I think the reason is that it is more lucrative for them to arrange it this way. One could argue that the IOM property market is far more stable than the UK and many other EU countries therefore this type of arrangement would be attractive to the covered-bond market.

I was amazed when talking to some of my friends in Belgium and the Netherlands, a few years ago, that they have one fixed rate for the entirety of their mortgage and it was very low . I read in the Telegraph today that UK ministers are looking into this as an option to reduce the exposure to borrowers and wondering do we need to wait to see whether the UK adopts this or can the IOM look to implement this independently.

What like the research you did with your photo😂😂😂😂😂😂😂😂😂 As mentioned …..Crogga offered to absorb the cost development of the regs.,….. The UK have some great regs the IOM could adopted , backed by 000’s of appraisal wells. We rubber stamp most Other UK regs already . probably take about 1 year tops to manxify , estimate the cost will be 500k

Correct and the DOI have been dragging their feet in getting them established and that is why both Crogga and their operator three60 Energy cannot move forward without the regs in place. The photo you have attached was not from drilling but from a gas leak from an under water gas pipeline off the coast of Mexico. The production Rig next to it is an oil rig where the spark came from to ignite the gas which was why this was such a big issue and could have been very serious . It took them almost 5 hours to put the flames out. We have a gas pipeline off the west coast of the Isle of Man too.

The appraisal well plugging cost are included in the costs that the operator charge Crogga , the Operator Crogga have selected is Three60 energy who have the global contract with BP. The operator takes out insurance ti cover any unexpected costs but they can only get insurance if the regs are in place . The DOI failed to get the regs in place . Nothing can move forward There have already been two appraisal wells drilled previously decades ago when the waters were UK ( I think for oil ) - they have both been plugged , no issues . if you go on to the North Sea transition authority website you can see the thousands of appraisals wells that have been drilled in UK waters over the decades. even if Crogga drill there is still only a 50/50 chance that the gas will flow at the required rate. if it does flow then the government are sitting on a cash cow

The lack of regulations lies squarely at CT and the DOI. This is probably one of the reasons he got sacked . My bet is that the DOI hoped it would go away and Crogga would not raise the funds . I understand Crogga have the funds ready to subject to the regulations being in place to allow the drilling . CT was completely bluffed by the Civil Servants who did not want this to happen . He became part of the problem rather than the solution . if you listened to some of the BS coming from his mouth on Manx radio such as he has liaised with Crogga greatly 😂, he and the DOI officers refused to meet with them since Feb as they realised Crogga had called their bluff and were ready to go. in fact CT started stating in public that there was a cost to the tax payer in establishing the regs ( just like there will be for the off shore wind turbines ) but he did not state that Crogga had offered to pay the costs of the government in establishing the regs . He was blatantly lying . Whether you are for the gas or against it the shear incompetence, lack of good will and faith is off the scale . This is nothing new Lord Street , The Prom, The Sea Terminal , it’s goes on .

https://www.manxradio.com/news/isle-of-man-news/manx-utilities-announces-plans-for-onshore-renewables/ There appears to finally be some movement on the renewables . My personal non expert opinion is that onshore is better than offshore due to reducing the long term maintenance cost exposure with the assets being in the sea. My concern is who will pay for it and what are the hidden costs of gearing up our grid to take electricity direct from the wind turbines? I read in the press the UK is not taking some of the electricity provided by the wind farms as the electrical infrastructure is not geared up for it whilst the government is still having to pay the wind farm operator for the electricity . it would be good to have clarity on what the real cost to the tax payer will be ?