Response to Ofgem statement regarding final price disallowance

Summary by AI BETAClose X

Capita plc has announced that Ofgem will disallow £11.425 million in costs for Smart DCC for the Regulatory Year 2024/2025, a reduction from the initial proposed disallowance of £30.841 million, with a £20 million disallowance for the prior year. Capita views this outcome positively, noting it aligns with estimates made for the Group's 2025 financial results and reflects process improvements and cost efficiencies. The company also confirmed that the Smart DCC contract, which supports a national smart meter network, will transition to a not-for-profit provider in the upcoming year.

Disclaimer*

Companies

Capita (CPI)
UK 100

Latest directors dealings