- Strong renewable generation portfolio
- Refer a friend for a 2% ongoing discount
- $22 account establishment fee for new customers
- Low prices rely on conditional discounts
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.
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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:
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.
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.
Here's an overview of Diamond Energy's electricity plans, separated by state (with annual bill estimates).
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.
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:
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:
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:
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.
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.
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:
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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