Capita selected to manage UK's 'smart meter' data

14th Aug 2013 11:35

Outsourcing giant Capita has been chosen by the government's Department of Energy and Climate Change (DECC) to manage the data for the 'smart' gas and electricity meters for 30m UK homes. The company, which warned that the decision was still subject to final approvals, said it expected the contract to generate revenues for the company of £175m over 12 years, with an option to be extended for a further six years.Chief Executive Paul Pindar said smart metering, which automatically send electronic meter readings to energy suppliers, will be "the biggest step-change in the retail energy sector since the industry was privatised".If appointed, Capita would be in charge of implementing the new national smart metering infrastructure, according to DECC's vision of smart meters being installed in every UK home by 2020. Capita said it would work alongside energy companies, which will install new smart gas and electricity meters themselves, to set up and run the data and communications infrastructure and services.The licence is expected to become effective from September 2013.Shares in Capita were up 3.0p to 1,003p at 11:40 on Wednesday. OH