More than four in 10 Brits say they don’t know about or understand their energy tariff.
That’s according to price comparison firm finder, which surveyed 2,000 adults about their bills.
The results showed one in five Brits have stayed with the same energy supplier for more than a decade, even though the average savings that could be achieved by switching are estimated to be as much as £231.47 a year.
One in five Londoners say they don’t have time to switch and 12% say they don’t trust other brands.
Scots are revealed as the most loyal customers, with nearly a third having been on the same deal for more than 10 years.
Conversely, those in the Northeast are the least loyal customers, with more than half having switched providers within the last two years.
Jon Ostler, CEO of finder UK said: “Loyalty doesn’t pay and remaining with one provider could be costing you hundreds of pounds a year.
“If you haven’t changed suppliers recently or even if you have without doing your research, you could be missing out on an opportunity to stretch your pound further.”