7300 hours per year, at just 1.4W (which, according to various sources I've just googled seems to be the typical power consumption of a TV in standby mode) comes to 10.22 kWh.
Prior to recent/forthcoming prices rises, each kWh typically cost about 20p, so fitting a switch (at the 'old' prices) might save you around £2. Allowing for a possible doubling of energy prices, that takes your saving up to around £4 per year, which happens to be the same as the price of a switch:
Amazon.co.uk User Recommendation
You'll certainly be doing your bit for the planet by fitting such a switch (as long as you keep remembering to actually use it, of course!) but don't expect to be able to take any cruises using the money that you've saved ;-)