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Diamond Energy Review and Rates

Diamond Energy is a small electricity retailer that’s passionate about renewable energy. Diamond owns several renewable generators and supports environmentally-minded Australians through energy products that help solar customers make the most out of their investments. Recognising its efforts, the GreenPeace Green Electricity Guide rated Diamond Energy as the second greenest power company in Australia in its most recent review.

Diamond Energy launched in Victoria in 2004 with ‘a vision to generate change in the Australian energy marketplace’. Today, Diamond retails electricity 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.

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Diamond Energy Prices Compared

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 calculated estimated annual costs across the states below.

How does Diamond Energy compare to other providers in NSW?

The table below shows some of the cheapest published deals on our database that include a link to the retailer’s website. These deals have been compared with Diamond Energy’s cheapest deal for NSW on our database. These costs are based on the Ausgrid network in Sydney but prices will vary depending on your circumstances. We show one product per retailer, listed in order of lowest price then alphabetical order. See here for further information on the Reference Price, which in this comparison assumes general energy usage of 3900kWh/year, meaning the Reference Price is $1,467/year. This table includes products from referral partners†. Our database may not cover all deals or providers in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

How does Diamond Energy compare to other providers in VIC?

The table below shows some of the cheapest published deals on our database that include a link to the retailer’s website. These deals have been compared with Diamond Energy’s cheapest deal for VIC on our database. These costs are based on the Citipower network in Melbourne but prices will vary depending on your circumstances. We show one product per retailer, listed in order of lowest price then alphabetical order. See here for further information on the VDO, which in this comparison assumes general energy usage of 4000kWh/year, meaning the VDO is $1,334/year. This table includes products from referral partners†. Our database may not cover all deals or providers in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

How does Diamond Energy compare to other providers in QLD?

The table below shows some of the cheapest published deals in our database that include a link to the retailer’s website. These deals have been compared with Diamond Energy’s cheapest deal for SE QLD. These costs are based on the Energex network in Brisbane but prices will vary depending on your circumstances. We show one product per retailer, listed in order of lowest price then alphabetical order. See here for further information on the Reference Price, which in this comparison assumes general energy usage of 4600kWh/year, meaning the Reference Price is $1,570/year. This table includes products from referral partners†. Our database may not cover all deals or providers in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

How does Diamond Energy compare to other providers in SA?

The table below shows some of the cheapest published deals on our database that include a link to the retailer’s website. These deals have been compared with Diamond Energy’s cheapest deal for SA on our database. These costs are based on the SA Power network in Adelaide but prices will vary depending on your circumstances. We show one product per retailer, listed in order of lowest price then alphabetical order. See here for further information on the Reference Price, which in this comparison assumes general energy usage of 4000kWh/year, meaning the Reference Price is $1,941/year. This table includes products from referral partners†. Our database may not cover all deals or providers in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Diamond Energy Plans

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

Diamond Energy’s market offer actually charges the same rate as its standing offer on each respective network. The key difference is that the market offer includes additional discounts of up to 10% off the usage and supply charges. Customers receive a modest 3% discount for paying bills via direct debit, plus an additional 7% discount if the bill is paid on time. The expected annual cost of Diamond Energy’s market offers for NSW, VIC, QLD and SA are detailed below.

Where does Diamond Energy operate?

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 Electricity Rates

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 for a specific quote in your area.

Diamond Energy Electricity Rates 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, meaning the Reference Price is $1,467/year. Use our comparison tool for a specific comparison in your area.

Electricity Provider Electricity Plan Difference from Reference Price^ Conditional Discounts Price Estimate*
Diamond Energy Everyday Renewable Saver 5% More Than Reference Price Reduces to 5% less than Reference Price for paying on time by direct debit $1,388incl. conditional discount
Basic Plan Information Documents

*Price assumes general energy usage of 3900kWh/year. Estimated price includes any conditions discounts that may be available. Pricing based on Ausgrid network in Sydney, but prices differ between distribution areas. November 2019.

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

Diamond Energy Electricity Rates VIC

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, meaning the VDO is $1,334/year. Use our comparison tool for a specific comparison in your area.

Electricity Provider Electricity Plan Difference from VDO› Conditional Discounts Price Estimate˜
Diamond Energy Diamond 12% More Than VDO Reduces to 1% more than VDO for paying on time by direct debit $1,351incl. conditional discount
Energy Fact Sheets

~Price assumes general energy usage of 4000kWh/year. Estimated price includes any conditions discounts that may be available. Pricing based on Citipower network in Melbourne, but prices will differ between distribution areas. November 2019.

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

Diamond Energy Electricity Rates 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, meaning the Reference Price is $1,570/year. Use our comparison tool for a specific comparison in your area.

Electricity Provider Electricity Plan Difference from Reference Price^ Conditional Discounts Price Estimate*
Diamond Energy Everyday Renewable Saver 1% Less Than Reference Price Reduces to 11% less than Reference Price for paying on time by direct debit $1,399incl. conditional discount
Basic Plan Information Documents

*Price assumes general energy usage of 4600Wh/year. Estimated price includes any conditional discounts that may be available. Pricing based on Energex network in Brisbane, but prices will differ between distribution areas. November 2019.

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

Diamond Energy Electricity Rates 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, meaning the Reference Price is $1,941/year. Use our comparison tool for a specific comparison in your area.

Electricity Provider Electricity Plan Difference from Reference Price^ Conditional Discounts Price Estimate*
Diamond Energy Everyday Renewable Saver 1% More Than Reference Price Reduces to 9% less than Reference Price for paying on time by direct debit $1,775incl. conditional discount
Basic Plan Information Documents

*Price assumes general energy usage of 4000kWh/year. Estimated price includes any conditions discounts that may be available. Pricing based on SA Power network in Adelaide, but prices differ between distribution areas. November 2019.

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

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).

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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 12c/kWh, which is slightly above what you might expect in most states.

While 12c/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)

Diamond Pure Plus – GreenPower

Diamond Energy offers GreenPower accredited products for anyone looking to further support renewable energy and minimise their carbon footprint. Customers can choose to purchase 20%, 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
  • GreenPower 20% – 1.10 cent/kWh

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

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.

Is Diamond Energy right for me?

Diamond Energy is not your typical retailer and won’t be for everyone. Diamond’s 12c/kWh 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. Of course, if you care more about the environment than money, Diamond Energy is still a perfectly viable choice.

When comparing electricity retailers, be sure to observe the rates, discounts, feed-in tariffs and other solar incentives. Get started with Canstar Blue’s electricity and solar ratings.

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