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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Diamond Energy is still letting new customers sign up but it will delay processing applications until customers are notified of its new rates at the start of July. We will update this page when more information is available.Diamond Energy at a glance
Energy plan prices are changing frequently right now. We calculated typical prices for providers for a 2-3 person household using data from the Energy Made Easy site. Always double-check plan details that matter to you.
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Energy plan prices are changing frequently right now. We calculated typical prices for providers for a 2-3 person household using data taken from each provider's website. Always double-check plan details that matter to you before signing up.
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Energy plan prices are changing frequently right now. We calculated typical prices for providers for a 2-3 person household using data from the Energy Made Easy site. Always double-check plan details that matter to you.
1 - 1 of 1
Energy plan prices are changing frequently right now. We calculated typical prices for providers for a 2-3 person household using data from the Energy Made Easy site. Always double-check plan details that matter to you.
1 - 1 of 1
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
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:
- NSW: 7c/kWh
- VIC: 7c/kWh
- QLD: 7c/kWh
- SA: 7c/kWh
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.
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?
If you're keen to switch to an energy plan from Diamond Energy, you'll need to head over to their website.
Once you've purchased the plan that you want, it should only take 2 business days for Diamond Energy to switch you over from your current provider.
For more details, take a look at our guide on switching energy plans.
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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