You can opt for a single rate or a time-of-use (TOU) plan with Diamond Energy. Single rate plans are also called flat-rate or anytime plans because you pay the same tariff irrespective of the time of day or day of the week that you use electricity. If you opt for a TOU plan, you typically pay higher rates for consumption during peak hours, slightly lower rates when the load on the grid is lower (called shoulder hours), and lower during off-peak hours.
On both these plans, Diamond Energy allows you to add one or two controlled loads. These are separately metered circuits for equipment that puts a heavy load on the grid, that you can operate during off-peak hours. For example, you could opt for a controlled load for your water heating. Once you enter your postcode on the website, you can see Diamond Energy electricity rates and plans available in your area. You will be shown how the price you’ll be paying compares with the reference price - the benchmark set by the government.
Diamond Energy offers a 7 per cent discount if you always pay on time, and 3 per cent if you set up a direct debit to pay your bills. Unlike many other electricity companies, these discounts don’t stop after a short benefit period, but are instead ongoing. When you pay on time, the discount appears as a credit on your next bill. Diamond Energy generally bills residential customers every quarter and small businesses every month.
As far as possible, they bill you on actual meter reads rather than an estimated amount. If your bill is delayed, Diamond Energy says it may be because the distributor hasn’t sent your meter data. You can set up a direct debit from your bank account to pay your electricity bill by filling out the form on this page. Diamond Energy will process the payment 14 days after issuing you a bill.
If you have a battery, there are times when Diamond Energy Australia will purchase your stored battery electricity. You get a credit of 100c per kWh, so you can save on your electricity bill.