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Diamond Energy electricity plans and review

Our verdict: You’ll get the most out of Diamond Energy with a fully set-up solar system. Otherwise, you’ll be paying a bit extra for a strong environmental record.

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Pros

  • Strong renewable generation portfolio
  • Refer a friend for a 2% ongoing discount

Cons

  • $22 account establishment fee for new customers
  • Low prices rely on conditional discounts
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What do you want to compare?

Compare electricity plans from Diamond Energy

1 - 1 of 1
Name Plan features Reference price Typical annual cost
Diamond Energy - Everyday Renewable Saver
Basic Plan Information | (DIA34670MRE6@EME)
Single rate tariffFeed in tariff available
Reference price
14% less
than reference price
Plus an extra 2% below the reference price if you pay on time
Estimated cost/year (typical usage)
$1,570/year
$1,530 if you pay on time
View details
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Showing 1 of 1 results
The annual estimated electricity prices are based on a residential customer on the Ausgrid network who consumes 3911kWh yearly on a single rate tariff. Your actual bill may vary depending on your consumption.
1 - 1 of 1
Name Plan features Reference price Typical annual cost
Diamond Energy - Everyday Renewable Saver
Energy Fact Sheet | (DIA484583MR@VEC)
Single rate tariffFeed in tariff available
Reference price
Same as the
Victorian Default Offer
Plus an extra 4% below the Victorian Default Offer if you pay on time
Estimated cost/year (typical usage)
$1,720/year
$1,650 if you pay on time
View details
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Showing 1 of 1 results
The annual estimated electricity prices are based on a residential customer on the Jemena network who consumes 4000kWh yearly on a single rate tariff. Your actual bill may vary depending on your consumption.
1 - 1 of 1
Name Plan features Reference price Typical annual cost
Diamond Energy - Everyday Renewable Saver
Basic Plan Information | (DIA34675MRE6@EME)
Single rate tariffFeed in tariff available
Reference price
1% less
than reference price
Plus an extra 2% below the reference price if you pay on time
Estimated cost/year (typical usage)
$1,940/year
$1,910 if you pay on time
View details
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Showing 1 of 1 results
The annual estimated electricity prices are based on a residential customer on the Energex network who consumes 4613kWh yearly on a single rate tariff. Your actual bill may vary depending on your consumption.
1 - 1 of 1
Name Plan features Reference price Typical annual cost
Diamond Energy - Everyday Renewable Saver
Basic Plan Information | (DIA34657MRE6@EME)
Single rate tariffFeed in tariff available
Reference price
3% less
than reference price
Plus an extra 1% below the reference price if you pay on time
Estimated cost/year (typical usage)
$2,220/year
$2,180 if you pay on time
View details
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Showing 1 of 1 results
The annual estimated electricity prices are based on a residential customer on the SA Power network who consumes 4011kWh yearly on a single rate tariff. Your actual bill may vary depending on your consumption.

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Diamond Energy review: Our verdict

Diamond Energy's plans fall around the middle for price, coming in at around 15% less than the reference price in every state it operates.

However, these prices rely on conditional discounts (e.g. direct debit and pay on time discounts). This means that if you're late on a bill, not only will your next energy bill spike in price, but you'll be slugged with a late fee.

That said, Diamond has excellent renewable credentials. It not only gives customers the option to support renewables in Australia for an extra fee with GreenPower, but it also generates more renewable energy than its customers consume.

Diamond Energy does not sell natural gas, so you can't bundle your energy.

Here's what you might like best about Diamond Energy:

  • Refer a friend through the Thr1ve program and get an ongoing 2% energy discount, plus a $35 sign-up credit for your friend.
  • Broad renewable generation portfolio means Diamond is a strong environmental choice.
  • Solar battery owners may earn 100c/kWh for exported energy during occasional "grid credit events" (when the grid is short on power).

What's the catch?

  • Usage rates increase after a certain threshold each month – for example, Ausgrid customers have their usage rates bumped up nearly 4c/kWh after the first 100kWh every month.
  • New customers must pay a $22 account establishment fee.

As with most providers, Diamond Energy doesn't have any lock-in contracts, so you can switch to a different provider anytime for any reason.

Where is Diamond Energy available?

Diamond Energy sells electricity to residents of South East QLD, VIC, SA, and NSW. It has a renewable energy generation portfolio that spans biogas, solar and wind across Australia.

Energy plans and annual cost estimates by state

Here's an overview of Diamond Energy's electricity plans, separated by state (with annual bill estimates).

solar energy icon

Solar Energy

Does Diamond Energy offer solar plans?

Diamond Energy offers solar feed-in tariffs on its energy plans.

You'll need to have solar panels already since Diamond doesn't help with the installation process.

How good is the feed-in tariff?

Diamond Energy offers a flat 7c/kWh of exported energy across the board. This is a cent or so below average in NSW and VIC, and roughly equal to the average tariff in QLD and SA.

Here's the breakdown of Diamond's tariffs by state:

1 - 4 of 4
Name Product Solar feed-in tariff
NSW
5.2 cents per kWh
QLD
5.2 cents per kWh
VIC
5.2 cents per kWh
SA
5.2 cents per kWh
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green energy icon

Green Energy

How green is Diamond Energy?

Diamond Energy offers certified GreenPower options, allowing customers to pay extra to support renewable energy in Australia.

Unlike many providers, Diamond offers a public breakdown of its energy generation portfolio, which is heavy on renewables:

  • 64% solar
  • 21% biogas
  • 9% wind
  • 6% rooftop PV

Diamond claims to be "beyond carbon neutral" by actually generating more renewable energy than its customers consume.

The Diamond Energy GridCredits100 scheme rewards eligible solar battery owners by paying them 100c/kWh for exported energy during "grid credit events" where the grid is short on power.

For GreenPower, you might pay an extra:

  • $34.37 per quarter - 50% GreenPower (2.75c/kWh)
  • $68.75 per quarter - 100% GreenPower (5.5c/kWh)

Note: 5,000 kWh was used as an average annual power consumption figure based on data from the 2020 Residential energy consumption benchmarks report for the AER. Power consumption varies by state and household size.

user

Customer service

Diamond Energy user review and customer service

How can I get in touch with Diamond Energy?

Have an issue that needs solving? Diamond Energy's team are available Monday to Friday, 8:30am–6pm AEST. They do not have live chat on their website.

You can:

  • Ring the customer service centre to chat to an agent.
  • Send an email and someone will get back to you.

Looking to switch to Diamond Energy?

Now that you've read our review of Diamond Energy, you can check out its plan once again before signing up. If you're still unsure, you can compare other energy providers on Finder before committing to a decision.

Important notes: The estimated price we show by default is based on a single rate tariff. On your bill this might be known as a "peak tariff", "peak only" or an "anytime tariff". There are other tariff types available to customers and you may need to contact your provider if you are on these tariffs:

  • Single rate with a controlled load
  • Time of use
  • Time of use with a controlled load

The price estimate should not be used as an official quote, but an indication of what your costs may be on the plan. It varies based on whether you provide us with your bill details. You can learn more here.

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