Brits are wasting £2.7 billion a year by paying over the odds for broadband.
That is according to a new study by comparison site uSwitch, which revealed consumers are paying an average of £140 too much for their internet services.
This is because prices are now as low as £2.99 a month, but too few consumers shop around to take advantage of that fact, the study said.
It went on to reveal that 12 million consumers have not changed their broadband provider for at least 12 months, while five million customers have never switched provider.
Currently, there are six providers offering deals for £10 or less a month, but the average annual broadband bill has climbed 5 per cent this year to £176.
Ernest Doku, technology expert at uSwitch.com, commented: "If you are coming to the end of your contract, now is the time to take a look at your broadband. Consumers need to [take] note of how much they are actually spending each month spending and look closely at the incredibly competitive deals currently on the market."
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