Millions of households across the UK are missing out on a total of £2.7 billion of potential saving by failing to switch energy suppliers.

More than 13 million homes are paying £200 a year too much for their energy, according to latest figures released by DECC.

It has launched a new ‘Power to Switch’ campaign, which will run for four weeks and aims to encourage people to shop around, switch and save.

It comes amid criticism the Big Six energy firms – British Gas, E.ON, EDF Energy, npower, ScottishPower and SSE – could have cut gas prices by more than what they announced earlier this year.

Energy Secretary Ed Davey believes “the power is in people’s hands to get a better deal” when it comes to switching suppliers.

Money Saving Expert Martin Lewis added: “We need to shout loud about the benefits of switching tariff. Too many people think energy firms are ‘all the same’. That’s far from true, there are huge differences on both price and customer service.

“The worry is that news of recent price cuts, even though they were paltry, will have given many false confidence that they’re on a decent deal. Examine the figures and the ugly truth is very different.”

Energy price comparison websites will have to meet tighter standards under new rules set by Ofgem last month.