Action undertaken by the government’s new consumer and markets authority ACM saved the equivalent of €300 for every Dutch household last year, according to the body’s annual report.

In total, the ACM says it saved consumers €1.85bn by reducing unnecessary spending.

‘The effect of our regulatory role not only gives more opportunities to consumers and companies but delivers financial advantages,’ said ACM chairman Chris Fonteijn.

For example, ACM claims its action has led to lower charges for transporting gas and electricity, and broken open the market for fixed telephony and internet.

The ACM was founded at the beginning of last year following the merger of the consumer authority, the cartel body NMa and the telephone regulator Opta.