More than 15 million Americans have switched to cable’s digital voice service. One big reason that consumers are switching is the significant savings that can be found, especially if the service is included as part of a bundle that includes video and high-speed Internet.

In fact, in the past four years, consumers that have switched to cable phone service have already saved $23 billion. Evidence of that can be found in a study by Microeconomic Consulting & Research Associates, Inc. (MiCRA). The report, “Consumer Benefits from Cable-Telco Competition,” was first prepared in 2006 and then updated in November of 2007.

According to MiCRA, consumers and small businesses across the country have already saved $23.5 billion and may save a total of $111 billion on their phone bills over the next five years as a result of robust competition. MiCRA estimates that residential consumers could save an average of $144 or more each year, while small businesses could save 50-70% on their phone bills – although the projections conservatively assumed that small businesses would save about $240 each year.

And the power of the bundle shouldn’t be forgotten. Think of what you used to pay separately for multichannel video service, Internet access, and local & long distance phone service, and the total was probably approaching $200 per month. Well, if you get all these services from your local cable operator, you can realize great savings and have the convenience of one monthly bill.