He added that an average household in the UK could save up to 20 per cent on their gas and electricity bills, which would equate to £150 a year.
Mr Monk did however warn that consumers should not switch to a fixed-rate contract, which would "tie you to a certain price for 18 months", as they would miss out on "likely price cuts later this year".
The expert said: "There is no doubt that if you are still with British Gas and have never checked to look for a better deal, you could be saving up to £300 a year if you live in a big house and switch suppliers."
Recent figures from the UK Worry Index found that energy prices are the leading concern for consumers, with the average Brit spending two hours and 15 minutes a day worrying.
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