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How to save $600 a year (by pressing a button)

Usually money saving articles are full of guff like ‘stop buying coffees’ or ‘ditch your credit card’.

Not this. Consumer advocate Choice created a tool back in May to help consumers combat Australia’s soaring energy bills, which has saved Aussies more than $1 million to date, it revealed this week.

Also read: ANZ/ CBA customers hit by fake apps

People who sign up have enjoyed saving on average $622 a year on electricity – all you have to do is upload your energy bill and the site scans all the best deals on the market.

The clever technology scans energy offers from all energy providers and saves you having to sift through technical jargon and endless T’s and C’s.

Choice warns that the biggest problem with other ‘free’ commercial comparison sites, is that they take commissions from the power companies and therefore their results are skewed.

“The huge savings highlight just how much many of us are needlessly spending on electricity because we either can’t work out how to change providers or because commercial switching sites aren’t giving us the best deal,” according to Choice spokesperson Nicky Breen.

“In the past people who wanted to switch providers would often go to third party switching sites, but they take commissions from the power companies and don’t have access to all the offers on the market .”

Also read: The new Facebook chatbot that’ll revamp your finances

If the site delivers you savings of more than $99, Choice charges you an annual fee (also $99), if you want to continue using the service for the next 12 months.

However, the service is only available in New South Wales, Victoria, South Australia or South East Queensland.

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