Gas-fired power still looks a safe bet for Centrica in the renewables era

The eye-catching non-Hormuz news in energy-land last month was that Great Britain is set for a record-breaking summer for wind and solar power generation. The national energy system operator even thought there could be periods – a sunny weekend or a bank holiday afternoon of low demand, for example – when more renewable power would be available than the electricity grid needed.So, on the face of it, it is an odd moment for Centrica, the owner of British Gas, to fork out £370m to buy a 16-year-old combined-cycle gas turbine plant in south Wales. After all, the government’s clean power plan imagines that, come 2030, Great Britain’s entire fleet of gas plants will be used to generate only 5% of its electricity, down from 31.5% in 2025

Meta sues Ofcom over fines regime for breaches of Online Safety Act

Meta has launched a legal challenge against the UK’s media regulator over the fees and fines regime it is enforcing under landmark digital safety legislation.The Facebook and Instagram owner is claiming that Ofcom’s methodology for calculating the charges is flawed and should not be based on a company’s global revenue. Breaches of the Online Safety Act can be punished by fines of up to 10% of qualifying worldwide revenue (QWR) or £18m – whichever is higher.In the case of Meta, which reported revenues of $201bn last year, Ofcom could in theory impose a fine of $20bn for breaches. Under regulations introduced in September, Ofcom’s fees will also be based on a proportion of an organisation’s QWR and apply to businesses that made more than £250m of this revenue a year

Exeter Chiefs members vote in favour of sale to AFC Bournemouth’s American owners

Exeter’s members have voted in favour of selling the club to the American owners of AFC Bournemouth. Cannae Holdings Inc, part of billionaire Bill Foley’s investment empire which also includes the Black Knight Sports and Entertainment group, is now set to take full control of the Chiefs and provide “significant” multi-million-pound fundingExeter, who rose from lower-league anonymity to claim a European and domestic title double in 2020, have previously been a members-owned club since their foundation in 1871. At a special general meeting, however, members voted by a comfortable majority to approve the club’s sale with long-time chairman Tony Rowe having negotiated a landmark deal with the new US backers.“It is just a non-binding expression of interest at this stage but, hopefully, an offer will follow and we can begin negotiating the terms of the sale,” said Rowe. Any offer is dependent on the completion of a 60-day due diligence process that will not be completed before the end of this month

‘Very aware of these issues’: Golf Australia reveals plan to combat re-zoning of public courses

Golf Australia is preparing to defend the country’s public courses against re-zoning attempts as part of its five-year strategy released on Friday, even as participation growth skews towards non-traditional venues like simulators and driving ranges.The sport reported annual growth in adult participation of 10% over the past five years, sustaining a boom that began during the Covid pandemic.The greens and fairways at Moore Park in inner Sydney have been the highest-profile target for downsizing, with the NSW government confirming on Thursday the 18-hole course would be configured into a 12-hole layout, despite opposition from golfers. Venues on defence land are also earmarked for sale under the federal government’s defence sell-off.Public courses at Elsternwick in Melbourne and Rosny Park in Hobart have become parklands in recent years, while Victoria Park in Brisbane was closed to golf in 2021 and the green space is now being repurposed for the 2032 Olympic stadium

Labour losses pile up in England local elections as Reform UK makes gains

The scale of the electoral challenge facing Labour has been laid bare as the party haemorrhages councillors at the local elections and Reform makes significant gains.Keir Starmer’s party went into Thursday’s local elections expected to lose up to 1,850 councillors, with senior figures describing the contest as “tough”.Initial results overnight painted a bleak picture for the prime minister, with Labour losing councillors in its traditional northern heartlands.Reform took control of its first council at around 6am, gaining overall control of Newcastle-under-Lyme from Labour. The party’s leader, Nigel Farage, described the early results as a “historic change in British politics” and said his party was “scoring stunning percentages in traditional old Labour areas”

‘Restaurants won’t survive’: Michelin chef opens venues abroad to withstand UK taxes

A British Michelin-starred chef says he is opening restaurants abroad to subsidise his UK venues against a backdrop of high taxes and a struggling hospitality sector.Jason Atherton is now in Forte dei Marmi, on the Tuscan coast in Italy, where he is preparing his newest opening, Maria’s, which will be in the Principessa hotel. The Sheffield-born chef now has restaurants all over the world, including in Dubai and St Moritz.He said he was finding it easier to make a profit in countries with more forgiving policies towards restaurants, pubs and bars. “I am trying to sustain our business by opening abroad