By Daily Mail Reporter and Lee Boyce for Thisismoney.co.uk
Published: 01:21 GMT, 20 March 2019 | Updated: 11:12 GMT, 20 March 2019
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Loyal customers are paying at least £4.1billion a year more on household bills because of problems with watchdogs.
Official auditors warn today that loyal customers generally pay more than new ones for energy, telecoms and broadband, water, banking and insurance.
Their report questions the effectiveness of watchdogs and singled out the four main utility and finance regulators: Ofgem, Ofcom, Ofwat and the Financial Conduct Authority.
Loyal customers are paying at least £4.1bn a year more on bills because of ineffectiveness of regulators (stock photo)
The National Audit Office said: 'They cannot prove if they are responding to consumer concerns or offering enough protection for those who need it.
'People find it difficult accessing the best deal, resulting in customers who do not switch typically paying more
