More than a quarter of the UK's 15 million broadband households are dissatisfied with the speed offered by their internet provider, a report has revealed.
According to price comparison service uSwitch.com, the average broadband customer pays £213 a year to receive a speed of 5Mbps, but actually only receives 3Mbps.
uSwitch reports that a survey found that 25 per cent are unaware of the speed they have signed up to and 31 per cent have no idea what speed they are actually receiving.
?The 'speed demons' are the broadband companies still willing to let their customers to pay for an advertised broadband speed when they know full well it is impossible for them to receive it," said Steve Weller, head of communications services, at uSwitch.com. "It's like selling a Porsche that will only go as fast as a Reliant Robin."
Companies including BT, Sky and Virgin were called to a summit by Stephen Timms, the Minister of State for Competitiveness, this week to discuss the development of an ultra-fast broadband network in the UK.
According to one financial report, replacing copper wires with fibre-optic cable could result in potentially unlimited speeds, but would mean digging up streets at an estimated cost of £15bn. But, addressing the summit, Stephen Timms said the UK must keep up with broadband developments or it could stay in the slow lane.
Aamir Baloch, director of telecoms at comparison website firsthelpline.com, said Timms was right to equate ultra-fast broadband with future economic success in the UK.
?Our existing system is straining under the weight of demand. And while we continue to lag behind other nations, our future as a major economic player is in doubt," said Baloch.
"Fighting for faster broadband makes good sense all round. We hope the ISPs have the courage to take the initiative to foot the bill for the new infrastructure, as it is in their long-term interest to make sure the UK is at the forefront of the online world."
Point Topic recently forecast that by the end of 2012 there will be 21.18 million broadband connections in the UK, with 73 per cent of homes and 85 per cent of businesses connected to high-speed lines.