PEOPLE could save nearly half a billion pounds a year by switching utility providers, a study claims.

A poll of 2,000 billpayers found 23 per cent of households have never switched.

But those who have, estimate they’re £68.16 better off each year on average.

And across the 6.5 million households who’ve not made the change, this adds up to a staggering £445 million left on the table.

The study of homeowners and renters found 20 per cent of holdouts said it’s ‘too much hassle’ switching and 18 per cent think all providers are ‘as bad as each other.’

While 43 per cent acknowledge they could be paying less if they shopped around but remain hesitant to make the change.

James Hyland, spokesperson for Airband, which aims to bring high-speed broadband to remote areas including in Worcestershire, said: “It’s important to take the time to review your utility providers.

“In the modern world, it’s not just gas, electric and water that are non-negotiable monthly bills, there are also broadband and phone bills to contend with.

“This can be a lot to juggle and it’s no surprise to see millions simply not bothering to check, or feeling it’s too much hassle.

“But these figures show the rewards are definitely there for those who are willing to take the time.”

The study also found 12 per cent of those who have made a move found the process at least somewhat difficult.

But far more (71 per cent) found it to be either somewhat or very easy.

It also emerged 30 per cent would be likely to move if a company offered rewards for loyal customers, such as receiving a pay-out of their exit fee (25 per cent) or had customer service lines operated by humans instead of being automated (22 per cent).

However, 39 per cent of those polled are currently happy with their energy providers, and 29 per cent have switched due to the rising cost of living – with another 22 per cent planning to.

In the ranking of satisfaction for different providers, most people selected electric (27 per cent) as the utility they’re least happy with.

This was followed by broadband (25 per cent) - with 44 per cent struggling with broadband coverage in their area - water (23 per cent) and gas (22 per cent), according to the OnePoll.com figures.

But 17 per cent admit the prospect of changing providers fills them with stress, while 15 per cent find it causes anxiety.

And 38 per cent believe they suffer from ‘Switch-Phobia’, a genuine fear of the process.

Mr Hyland for Airband, which commissioned the research, added: “Switching utility providers can be one of the most effective ways for consumers to reduce their monthly bills while improving the quality of service they receive.

“Many people don't realise that the market offers a wide range of options, and by simply comparing providers, they can find better rates tailored to their usage patterns.

“This can lead to significant savings over time, especially for households with higher energy consumption.”