Dual-fuel energy bills going steady at 1,328 pounds on average

The average dual fuel bill for the following 12 months should hover around the £1,328 mark, Ofgem’s latest Supply Market Indicator (SMI) suggests.

The SMI is a 12-month forward look at cost trends. It looks at the average annual bills for consumers and estimates the annual cost per customer faced by a typical large supplier to deliver gas and electricity.

The latest indicators show that wholesale gas and electricity costs for the next 12 months will be around £591 or 45% of an average dual fuel bill. This is slightly lower than last month’s estimate of £594.

Ofgem’s estimate of network, environmental and social costs for the next 12 months have increased by approximately £4 to £392. This is due to an increase in Renewable obligation costs for 2015/16 and inflation.

Additionally, the regulator’s estimate of supplier operating costs for the next 12 months remains broadly the same as last month at £175.

The estimate of the pre-tax margin a typical large supplier could make over the next 12 months, based on a 13-month rolling average margin, is largely unchanged this month at around £103 or 8% of the annual dual fuel bill.

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The system is built around the idea of optimizing the energy consumption levels within any area with the help of an advanced heat-loss algorithm that creates a specific profile for any building and based on that, switches heating on later if its warm and off earlier if its cold.

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