Response to Ofgem statement regarding price consultation
Ofgem opened consultation on draft price disallowance of up to £24m for Smart DCC for 2025/2026.
- Provisionally proposed cost disallowance for RY 2025/2026 up to £24m
- Prior year draft disallowance for RY 2024/2025 £31m
- Smart meters connected 39.2m
- Homes and small businesses served 23m
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Capita plc, notes today’s announcement from Ofgem who have opened a consultation regarding the draft price disallowance determination for Smart Data Communications Company (DCC)1, which is provisionally proposing to disallow costs of up to £24m for the Regulatory Year 2025/2026 (2024/2025: draft disallowance was £31m).
Ofgem’s draft determination and subsequent consultation period forms part of the usual regulatory framework governing the Smart DCC contract. As in previous years, Smart DCC Limited will engage constructively with Ofgem during the consultation period to seek a reduction to the level of disallowed costs, ahead of the final price determination in Q1 2027.
Since the licence inception, Capita has put in place and built a significant national network connecting more than 39.2m smart meters across 23m homes and small businesses, enabling smart meter monitoring to play its part in addressing the energy affordability challenges across Great Britain. As previously announced, the licenced business recently transitioned to a not-for-profit service provider.
1Smart DCC Limited is a wholly-owned subsidiary of the Group which is not consolidated into the Group’s financial statements. For further details see note 4.7 of the Group’s 2025 Annual Report and Accounts.
For more information, please contact: Investor enquiries: Stephanie Little Director of Investor Relations Email: IRteam@capita.co.uk Media enquiries Email: media@capita.co.uk
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.