Research by the energy supplier also revealed that 35 per cent of households would switch if the process was quicker.
In response to the results of their study, First Utility has launched a “Fix the Switch” campaign today, calling on MPs, Ofgem and the industry to cut the time to switch suppliers down from five weeks to one day.
Ian McCaig, chief executive of First Utility, said: “A quick and easy energy switching process would deliver genuine cost-saving benefits by encouraging more people to benefit from better energy deals.”
He added: “We need to slash the time it takes to change energy suppliers, not just by shaving a few days off the process, but by making a real difference and introducing same day switching.”
Sarah Willingham, founder of letsavesomemoney.com, said: “We all know we can save by switching suppliers, but it can sometimes feel like too much hassle.
“Taking the stress and time wasting elements out of the equation will make a huge difference to household bills across the UK.”
Ann Robinson, director of consumer policy at Uswitch.com, said speeding up the switching process is “crucial” because the energy industry is “in danger of being left behind” by other sectors, such as banking and telecoms.
She added that maintaining the cooling off period is important and that this coupled with a quicker switch would be “an extremely positive development in the energy industry.”
Andrew Wright, Ofgem chief executive, said: “Ofgem is determined to speed up the switching process and we are working closely with suppliers to ensure that this happens.
“We welcome the fact that First Utility share our goal and we want other suppliers to show the same ambition.
“Improvements have already been made to cut the time it takes to switch supplier to three weeks after any cooling off period, but ultimately the roll out of smart meters to homes and businesses will pave the way for a quicker switching process to be developed.”