Fancy saving £197 this year on your mobile tariff? A new website promises just that for 88% of consumers.

BillMonitor, the first price comparison site to be officially accredited by Ofcom, uses a unique bill assessment service that looks at how much a consumer's bill would be across 119,078 mobile tariffs available to UK consumers, including add-ons and bundles.

By comparing the bills a consumer would pay on each different tariff, BillMonitor is able to find out how much each consumer could save and recommend alternative tariffs.

BillMonitor's bold boast is that if everyone used the service to find their ideal tariff, the UK average monthly bill would drop from £39.27 to £23.73.