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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
2023 Finder Customer Satisfaction Awards
Highly commended: Electricity provider (NSW)
Diamond Energy was our second finalist, scoring well on value for money and its green credentials. According to The Green Electricity Guide by Greenpeace, it's the greenest energy provider in NSW as well as Australia.
Diamond Energy came in as a finalist, scoring 4 out 5 or above across all categories and with 85% of respondents saying they'd recommend the provider. According to The Green Electricity Guide by Greenpeace, it's the greenest energy provider in QLD.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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.
Why compare energy plans with Finder?
We don't charge extra. Prices shown on Finder are the same as those you get directly from energy providers.
We update our plans from providers daily so you can make an informed decision.
We've helped over 1.39 million people compare energy plans in the last 3 years.
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
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:
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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.
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.
Why you can trust Finder's energy experts
We've done the work
We've reviewed hundreds of energy plans and written 200+ guides to help you navigate the Aussie energy market. Our experts are seen on TV, print and digital media.
In the last 3 years, we've helped over 1.39 million people compare energy plans by explaining features clearly and simplifying confusing terms and conditions.
Learn more about energy
Our energy guides can help you compare and understand what plan is best for you.
Best energy plans:
5 plans selected by our experts, assessed and updated regularly
Sam Baran is a writer for Finder, covering topics across the tech, telco and utilities sectors. They enjoy decrypting technical jargon and helping people compare complex products easily. When they aren't writing, you'll find Sam's head buried in a book or working on their latest short story. Sam has a Bachelor of Advanced Science from the University of Sydney.
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