Around 15% of UK homeowners have never switched their gas or electricity suppliers.

That’s 2.5 million homeowners “potentially” missing out on collective savings of £728 million, according to research by price comparison site Gocompare.com.

It also revealed 53% of homeowners haven’t changed their supplier for more than three years.

One of the reasons consumers don’t switch their gas and electricity company is the process, which is often seen as complex, 27% of homeowners said it is “too much hassle”.

Another factor is trust, 16% said they don’t trust energy suppliers to save money.