The majority of consumers have not checked to see whether they could be saving money on either their electricity, gas or internet bills for at least three years.
Research published by the National Consumer Agency,following a survey of over 1,000 respondents, found little over a third had switched at least one product or service provider over the past 12 months.
Consumers were more likely to have changed their regular supermarket or car insurance provider with around one in five saying they had switched either or both in the past year.
The NCA found, however, that three out of five consumers had not checked within the past three years to see if there was better value available from an alternative gas, electricity, internet or TV service provider.
Fergal O'Leary, director of research and policy at the NCA, said the survey highlighted the fact that consumers could be missing out on potential savings.
"About half of those who did check for a better deal did identify savings, and a quarter actually switched their provider, indicating that there are savings to be made," he said.