The study, which was conducted by Populus and surveyed 10,000 people, revealed that 51 per cent of consumer did not trust any energy supplier.
This lack of trust grew to 57 per cent for those with a disability or if they were living in fuel poverty.
For consumers who had a smart meter installed, only 30 per cent said they “somewhat agreed” or “strongly agreed” with the statement “I do not trust my energy supplier”.
The survey also revealed 37 per cent of respondents were concerned their energy bills were not accurate, 41 per cent were worried they were paying for more energy than they consumers, and one in ten did not know how much they were paying for energy.
A total of 43 per cent of respondents said they did not believe they had the information needed to choose the right tariff for them, while 39 per cent stated they were not confident enough to select the right supplier.
In relation to smart metering, nearly half of those questioned (44 per cent) expressed an interest in having a smart meter installed in their home.
Sacha Deshmukh, chief executive of the SMCDB, said: “In an era when we are able to compare, record and track our household spending more easily than ever before, two in five of us have no idea whether we’re paying too much for our energy.
“Antiquated systems for recording energy use and managing billing are no longer fit for purpose.
“Households need to be able to take control of their energy use and bills.
“For this to happen, the national smart meter roll-out is the essential transformation of the technology we use to buy energy.”