IOM Energy AKA Manx Gas

[b4mbi]

14 hours ago, Amadeus said:

Time to cancel the direct debit me thinks. Just going to wait for the actual bill. The risk that they take an incorrect amount seems high right now. 

Cancelled my DD a few weeks ago. Can't be trusted to get it right, so will wait for actual invoice - what a shambles.

 

[Amadeus]

I remember during a recent cost of living meeting, a minister mentioned that Manx Gas came close to serious trouble a few times recently due to their cash flow being low (all the sweet profits going to shareholders and almost nothing left in the kitty). So I asked what would have happened if IOMG hadn’t intervened. Answer was we could have gotten it cheap basically. Not sure why they didn’t do that and maybe this option should be re-explored if they are running into trouble again because of this billing mess. 

[finlo]

5 minutes ago, Amadeus said:

I remember during a recent cost of living meeting, a minister mentioned that Manx Gas came close to serious trouble a few times recently due to their cash flow being low (all the sweet profits going to shareholders and almost nothing left in the kitty). So I asked what would have happened if IOMG hadn’t intervened. Answer was we could have gotten it cheap basically. Not sure why they didn’t do that and maybe this option should be re-explored if they are running into trouble again because of this billing mess. 

Something else for the government to make ten times worse you mean!

[Amadeus]

7 minutes ago, finlo said:

Something else for the government to make ten times worse you mean!

Steam Packet isn’t worse since they got it, is it? 

[Albert Tatlock]

5 minutes ago, Amadeus said:

Steam Packet isn’t worse since they got it, is it? 

Lots of complaints on prices next year. Depends if government intend to see it as a cash cow paying off pension debt, or use it to benefit the people of the island IMO.

Importing goods here is a major inflation driver that government could subsidise. Cheaper tickets for tourists support businesses here.

[Non-Believer]

7 minutes ago, Amadeus said:

Steam Packet isn’t worse since they got it, is it? 

The fares have certainly only gone one way?

[WTF]

23 minutes ago, Amadeus said:

Steam Packet isn’t worse since they got it, is it? 

it costs significantly more to the end user , most intelligent people will consider that worse , 

[Bazza Smurf]

2 hours ago, 2112 said:

I have complaints lodged with them, heard nothing. I have raised emails with Island Energy - according to them it’s taking between 2-4 weeks for emails to be replied to. They replied to me but they had me provide them with information they already have. If what you say about CURA is correct then CURA is another toothless ‘watchdog’ set up by IOMG, like the OFT who will do nothing. 

I think CURA would do more if they had the power to do more. I genuinely do. They cannot act though because they simply do not have the power to act. 

The formation of CURA as a gas regulator came about due to the inability (thankfully) of IEG (MG) and the previous Government to strike another crappy deal that would have had consumers in a worse position for another 5 years than they are currently. CURA were given the job at very short notice as nobody, (apart from sensible people) thought it possible that another deal would not be signed. It is likely though that Tynwald will grant more powers and I think it likely that eventually the MUA will be forced under pricing regulation also. Recent Hansard from the Economy Policy Review Committee lends me to think this way. 

Regarding the OFT. From what I can assertain, they have very limited power, but I think they are trying to sort the mess out. I know several gas consumers, through an FB group I admin,  that have complained to the OFT about billing issues. The situation currently is farcical and for those on direct debit getting charged without a bill it's borderline fraudulent I think. The same happened to me. I went down the quay and complained. The bill was printed there and then and a written apology followed. I have since stopped my direct debit. 

Whilst I cannot see the future, no good is coming out of what's going on currently on the quayside. 

[Bazza Smurf]

3 hours ago, asitis said:

In that case there is none !

I have little confidence although I have more now than when they were a so called 'regulator'. 

[Bazza Smurf]

All interested parties in the history of the local gas company have now been interviewed by the Economic Policy Review Committee. Having sat in at all the sessions (and questioned at one of them), I think the report will make 'interesting reading'. Making the gas issue high priority was promised at one of the sessions. 

Questions based on the following were included.

*2016/17 Government Gas Committee

*Nera Report and findings

*2015 gas agreement 

*Previous role of the OFT, what if anything went wrong. Opinions 

*Refunds and Rebates. Are we due more?

*Role of CURA. Implementation and future.

*Current state of IEG and business future

*Cabinet Office (private sessions).

*Role of MUA in relation to gas supply. 

[Numbnuts]

There going bust without doubt. They cant and wont recover from this. Another sign is the dissaperence of Jo Cox . Quite active a few weeks ago in trying to pacify the masses but even she has dissapeared of the radar. And I agree that the issue in Jersey will have a massive effect on there trading and liabilities I'd say. 

Edited December 29, 2022 by Numbnuts

[Andy Onchan]

15 hours ago, WTF said:

i have received a second bill for a recent delivery with no mention of the previous bill i still haven't paid , they really are shit , i might be getting free gas the way things are going.

I wouldn't bank on it.

[Andy Onchan]

2 hours ago, Amadeus said:

I remember during a recent cost of living meeting, a minister mentioned that Manx Gas came close to serious trouble a few times recently due to their cash flow being low (all the sweet profits going to shareholders and almost nothing left in the kitty). 

I've been saying the same for years. The management fees to their parent/equity partner takes priority over everything else. The company is nothing more than a shell, an agency if you will. 

I've never understood the need for having a middleman, the market simply isn't big enough. 

[Banker]

2 hours ago, Non-Believer said:

The fares have certainly only gone one way?

So has the price of fuel & if steam packet subsidized then comes from taxpayers ie us

[0bserver]

2 hours ago, Amadeus said:

I remember during a recent cost of living meeting, a minister mentioned that Manx Gas came close to serious trouble a few times recently due to their cash flow being low (all the sweet profits going to shareholders and almost nothing left in the kitty). So I asked what would have happened if IOMG hadn’t intervened. Answer was we could have gotten it cheap basically. Not sure why they didn’t do that and maybe this option should be re-explored if they are running into trouble again because of this billing mess. 

Called it at the time when they came to Tynpotwald with the begging bowl. The time to strike was then.

Now they will probably end up paying (W)ancala £100m in the same vein as the Steam Packet.