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Expert Guide: Diamond Energy Review and Rates

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Diamond Energy is a small electricity retailer that’s passionate about renewable energy. The retailer launched in Victoria in 2004 with ‘a vision to generate change in the Australian energy marketplace’.

Today, Diamond Energy retails power to homes and small businesses across New South Wales, South East Queensland, South Australia and Victoria. Diamond Energy claims that switching electricity retailers and joining its ranks is a simple and positive way of making a difference.

Some consumers may already be sold on this environmentally-focused retailer, but for the rest, let’s take a closer look at what Diamond Energy offers and whether it presents good value.

Diamond Energy Prices

Being an environmentally-focused energy retailer is one thing, but what can you actually expect to pay with Diamond Energy? To help you decide if this is the right retailer for you, we’ve estimated annual costs across the states below.

Here are the Diamond Energy plans on our database for NSW. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here are the Diamond Energy plans on our database for Victoria. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here are the Diamond Energy plans on our database for SE QLD. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here are the Diamond Energy plans on our database for South Australia. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

An Expert’s Guide to Diamond Energy

Not all energy retailers sell electricity or gas in every state across the country. That’s why we’ve summarised what you can expect to find from Diamond Energy below.

State Electricity? Gas?
NSW
VIC
QLD
SA
ACT
WA
TAS

Diamond Energy Plans

Diamond Energy only has one market electricity plan, simply called ‘Everyday Renewable Saver’ in New South Wales, Queensland, South Australia and Victoria.

What can you expect to pay with Diamond Energy?

Diamond Energy may be smaller than some of the other retailers in Australia, but its size doesn’t make it any less capable of providing good deals on energy. By using Canstar Blue’s electricity comparison tool, we’ve worked out how much Diamond Energy might cost the average household on a single rate tariff at a selected postcode in each state. Use our comparison tool below for a specific quote in your area.

Diamond Energy NSW

In the table below, we show Diamond Energy prices on the Ausgrid network in Sydney. Plans are listed from the lowest priced estimate first. See here for information on the AER Reference Price, which in this comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff, meaning the Reference Price is $1,393/year. Use our comparison tool for a specific comparison in your area.

← Mobile/tablet users, scroll sideways to view full table →

Electricity Plan Difference from Reference Price^ Conditional Discounts Price Estimate*
Everyday Renewable Saver 6% Less Than Reference Price Reduces to 15% less than Reference Price for paying on time by direct debit $1,179incl. conditional discount
Basic Plan Information Documents

*Price assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Estimated price includes any conditional discounts that may be available. Pricing based on Ausgrid network in Sydney, but prices differ between distribution areas. May 2022.

See how Diamond Energy compares to other energy providers in our NSW price comparison report.

Diamond Energy Victoria

In the table below, we show Diamond Energy prices on the Citipower network in Melbourne. Plans are listed from the lowest priced estimate first. See here for information on the VDO, which in this comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff, meaning the VDO is $1,307/year. Use our comparison tool for a specific comparison in your area.

← Mobile/tablet users, scroll sideways to view full table →

Electricity Plan Difference from VDO› Conditional Discounts Price Estimate˜
Everyday Renewable Saver 5% Less Than VDO Reduces to 15% less than VDO for paying on time by direct debit with e-billing $1,117incl. conditional discount
Energy Fact Sheets

~Price assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Estimated price includes any conditional discounts that may be available. Pricing based on Citipower network in Melbourne, but prices will differ between distribution areas. May 2022.

See our Victorian electricity price report to see how Diamond Energy compares to other retailers in the state.

Diamond Energy QLD

In the table below, we show Diamond Energy prices on the Energex network in Brisbane. Plans are listed from the lowest priced estimate first. See here for information on the AER Reference Price, which in this comparison assumes general energy usage of 4600kWh/year for a residential customer on a single rate tariff, meaning the Reference Price is $1,455/year. Use our comparison tool for a specific comparison in your area.

← Mobile/tablet users, scroll sideways to view full table →

Electricity Plan Difference from Reference Price^ Conditional Discounts Price Estimate*
Everyday Renewable Saver 6% Less Than Reference Price Reduces to 15% less than Reference Price for paying on time by direct debit $1,232incl. conditional discount
Basic Plan Information Documents

*Price assumes general energy usage of 4600Wh/year for a residential customer on a single rate tariff. Estimated price includes any conditional discounts that may be available. Pricing based on Energex network in Brisbane, but prices will differ between distribution areas. May 2022.

How does Diamond Energy compare to other retailers in Queensland? See our QLD price comparison page.

Diamond Energy SA

In the table below, we show Diamond Energy prices on the SA Power network in Adelaide. Plans are listed from the lowest priced estimate first. See here for information on the AER Reference Price, which in this comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff, meaning the Reference Price is $1,716/year. Use our comparison tool for a specific comparison in your area.

← Mobile/tablet users, scroll sideways to view full table →

Electricity Plan Difference from Reference Price^ Conditional Discounts Price Estimate*
Everyday Renewable Saver 7% Less Than Reference Price Reduces to 16% less than Reference Price for paying on time by direct debit $1,441incl. conditional discount
Basic Plan Information Documents

*Price assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Estimated price includes any conditional discounts that may be available. Pricing based on SA Power network in Adelaide, but prices differ between distribution areas. May 2022.

How does Diamond Energy stack up in South Australia? Find out with our SA price comparison report.

Diamond Energy Solar

Diamond Energy’s range of solar products and services is what truly distinguishes this retailer from its competitors. Customers signed up to Diamond Energy market offer receive a feed-in tariff of 7c/kWh, which is slightly above what you might expect in most states. The retailer also has a partnership with Victoria Bitter where eligible customers can earn beer for their solar exports via the VB Solar Exchange.

While 7c/kWh might sound juicy, it’s got nothing on the 100c/kWh that customers with solar storage batteries could earn when they sign up to GridCredits100. This is a unique Diamond Energy product made possible by its partnership with Reposit. During periods of very high electricity demand, Diamond Energy remotely withdraws electricity from its customer’s storage systems in exchange for 100 cents for each kWh of power used. This helps relieve the energy grid and saves money for both Diamond Energy and its customers.

Diamond Energy does not directly retail or install solar systems, so you will need to organise this through a third party. Diamond recommends using a Clean Energy Council accredited solar installer and lists seven preferred suppliers on its website:

  • Energyoptions (VIC, SA, QLD, NSW)
  • Instylesolar (VIC, SA, QLD, NSW)
  • Solarkraft (VIC, QLD)
  • Gippsland Solar (VIC)
  • Cola Solar (NSW, VIC)
  • Adelaide Solar Systems (SA)
  • Solgen Energy Group (VIC, SA, QLD, NSW)

Compare Solar Providers

Contact Information & Billing Details

Here you’ll find the information about Diamond Energy should you ever need to call or make a billing enquiry.

Diamond Energy Contact Information

If you ever need to contact Diamond Energy, here are the details you’ll need to get in touch:

  • General enquiries: 1300 838 009
  • Postal address: 101 Greville Street, Prahran VIC 3181
  • You can also get in touch with Diamond Energy via their website

Diamond Energy Billing

No one likes paying bills, so it’s at least nice if retailers make the process as painless as possible. Diamond Energy has eight ways for customers to pay.

  • Credit Card – Pay using VISA or MasterCard.
  • Direct Debit – The money is automatically withdrawn. Customers receive a 3% discount for paying using this method.
  • Electronic Funds Transfer – Use the bank details on your bill to send the funds directly to Diamond Energy’s bank.
  • BPAY – Use the Biller Code and Reference Number on your bill to pay with BPAY.
  • Australia Post – Pay with cash, EFTPOS or cheque at Australia Post.
  • Mail – Mail a cheque or money order with your payment slip to Diamond Energy.
  • Bill Smoothing – Set up weekly, fortnightly or monthly direct debit payments to avoid being slugged with large quarterly bills.
  • Centrepay – Organise some Centrelink payments to be direct toward your bills.

Other energy providers worth checking out:

Diamond Energy is not your typical retailer and won’t be for everyone. Diamond’s feed-in tariff, along with its innovative GridCredits100 plan, could make it a great value retailer for customers with solar.

Customers without a solar system can still sign up to Diamond Energy, however our calculations suggest that such households might be charged more for electricity than they would be elsewhere. When comparing electricity retailers, be sure to observe the rates, discounts, feed-in tariffs and other solar incentives.

Compare Diamond Energy to other Australian Providers


About the author

As Canstar Blue’s Energy Editor, Jared Mullane covers the retail energy market, with a focus on electricity, gas and solar. Jared has worked in the comparison industry for 5 years and prior to that his work appeared on media outlets including Fairfax Media. He continues to contribute expert articles to retailer publications such as Origin Energy’s blog and has been cited as an energy expert by media outlets ranging from the ABC to The New Daily and 2GB. You can follow Jared on LinkedIn.

Learn more about Canstar Blue’s Editorial Team.


Diamond Energy FAQs

 

Is Diamond Energy any good?

Diamond Energy is a perfectly viable choice for consumers, particularly if you are conscious about the environment. The retailer’s electricity rates are average, however customers can find value in Diamond Energy if they meet the conditions of the discounts on offer, such as paying on time and by direct debit.

Does Diamond offer green energy?

Diamond Energy offers GreenPower accredited products for anyone looking to further support renewable energy and minimise their carbon footprint. Customers can choose to purchase 50% or 100% of their electricity usage as GreenPower renewable energy. This commits Diamond to purchasing the equivalent amount of electricity from accredited renewable generators. GreenPower costs a little more per kWh than regular electricity, so it’s only recommended for those that are truly passionate about going green.

  • GreenPower 100% – 5.50 cents/kWh
  • GreenPower 50% – 2.75 cents/kWh

Customers can change their GreenPower percentage at any time, commencing from the start of the next billing period.

Does Diamond Energy have any hidden fees?

Before signing up to Diamond Energy’s market offer, potential customers should note some of the fees that may be attached. These include a $22 ‘establishment fee’ for transferring to Diamond from another retailer, and on some networks, a late payment fee of $15 (this is in addition to losing the pay on time discount).