Bill Hero: The $49 a year subscription that could save you money on power

Finding the best electricity deal can be a tedious task but now a new subscription platform is offering to do the legwork for you, while saving Australians hundreds of dollars.

Backed by consumer advocate Choice and launched by a Melbourne-based company, Bill Hero calculates the potential savings and helps customers make the switch to a new provider.

"We do an apples for apples comparison across the entire marketplace, every plan from every retailer," Richard Foxworthy, founder and CEO of Bill Hero, told 9News.

Bill Hero charges subscribers an annual $49 fee to monitor every power bill the customer receives.

"Over that subscription period we report back to them on each bill and advise them how much they can save and help them switch to achieve those savings," Mr Foxworthy said.

Mother-of-two Fiona Hall recently jumped on board the service.

"We ended up saving $243 on our electricity bill for the year which was fantastic," she said.

"With everyone working from home, there was a real spike in our energy consumption and so I wasn't expecting a huge saving... all I had to do was simply send in a request and they did it all."

While Ms Hall's solar panels already gave her a head start, average subscribers can expect to save around $350 on first changeover and at least $100 every bill after.

The platform says it takes into account variable energy tariffs and conditional discounts.

Professor Gary Mortimer from the QUT Business School advises customers to understand what they're paying for.

"You want to make sure that the saving you attain is bigger than the cost it is to attain that saving," he said.

Like all subscriptions services, it's important customers are aware of an automatic renewal and the potential for a change in annual fees.