Diamond Energy

Diamond Energy is an up-and-coming clean green energy retailer, supplying both retail and business customers. Find out more about them and how green they are here through Savvy’s energy review.  

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, updated on August 14th, 2023       

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Diamond Energy is a small but growing electricity retailer which claims to be Australia’s greenest electricity provider. It offers 100% renewable electricity plans to Australian retail and business customers in four states. It was the first electricity retailer in Australia to offer an export tariff for solar home battery owners. 

Founded in 2004, they source their electricity from 100% renewable energy generation, which includes solar, wind, biogas and hydropower. This makes them a popular choice for environmentally conscious consumers who want to support clean energy initiatives. 

As a smaller, independent retailer, Diamond Energy is known for its personalised approach and commitment to supporting renewable energy projects. Their dedication to sustainability and customer satisfaction has earned them a strong reputation in the Australian energy market. 

Disclaimer: Please note that Savvy does not represent Diamond Energy for their retail energy products. All listed information is correct as of August 2023 but subject to change.

Diamond Energy

Which states or territories does Diamond Energy operate in?

Currently, Origin Energy offers electricity plans in:

  • New South Wales
  • Victoria
  • Queensland
  • South Australia

What is the size of Diamond Energy in comparison to other energy retailers?

According to the Australian Energy Regulator’s latest report (Q2 2022/2023), Diamond Energy now has over 11,800 retail electricity customers, and they command around 0.2% of the retail market share.  

What are some of the pros and cons of using Diamond Energy as your energy provider?

  • Australia’s greenest energy retailer 
  • Australian based company and call centre owned by its  
  • Refer-a-friend referral program offering 2% ongoing discount 
  • $35 additional sign-up credit for your friend under the referral program 
  • Option to join a Virtual Power Plant if you have a solar battery system 
  • Discounts available for pay-on-time and direct debit payments 
  • Generous solar and battery feed-in tariffs available 
  • Partnership with Victoria Bitter beer company to exchange solar credits for slabs of beer 
  • Only one retail electricity energy plan on offer for those who don’t have a solar system 
  • Not the cheapest electricity plans available for non-solar owners 
  • Late payment fee of $15 
  • Establishment fee of $22 for switching to Diamond Energy 
  • Higher prices are charged after a certain threshold of power is consumed each month 
  • No lock-in contracts so prices can fluctuate

How is Diamond Energy rated as a green energy provider?

According to Greenpeace’s Green Electricity Guide, Diamond Energy is the No. 1 greenest energy provider in Australia, scoring a perfect score of 10/10 overall.* 

Their scores for these specific criteria are: 

  • Providing clean, renewable energy: 100%
  • Ending coal use by 2030: 100%
  • Halting fossil fuel expansion: 100%
  • Support for new renewable energy 100%
  • Pollution & environmental harm: 100%
  • Transparency in marketing:  100%

*Information from Greenpeace’s Green Electricity Guide is current as of August 2023, but subject to change 

Why compare energy plans with Savvy?

More questions about Diamond Energy

Is the Diamond Energy Thrive referral bonus ongoing?

Yes, if you refer a friend to Diamond Energy, you’ll get 2% off the whole price of your electricity bill for as long as you are a Diamond customer. In addition, you’ll get 2% energy discount off your electricity bill for every single referral you give, with no limit on the maximum number of referrals you can make. In theory, if you refer 50 new customers you could have 100% free electricity.

What are Diamond Energy’s GreenPower rates?

The GreenPower rates that Diamond Energy offer are: 

  • 100% – 5.50 cents/kWh 
  • 50% – 2.75 cents/kWh 
What are the eligibility requirements for joining Diamond Energy’s Virtual Power Plant (VPP) Wattbank?

In order to join Diamond Energy’s VPP you’ll need: 

  • Minimum battery size of 5kWh up to 10kWh 
  • Solar panel system of at least 5kWh and up to 7kWh 
  • Inverter of at least 3 kWh 
  • Be a resident of SA, VIC, NSW or QLD Energex customer 
  • Have a smart meter
Where does Diamond Energy get its renewable energy from?

Diamond Energy claims to be ‘beyond carbon neutral’ by generating more renewable energy than its customers consume. Its energy comes from:  

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

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Savvy is partnered with Econnex Comparison (CIMET Sales Pty Ltd, ABN 72 620 395 726) to provide readers with a variety of energy plans to compare. We do not compare all retailers in the market, or all plans offered by all retailers. Savvy earns a commission from Econnex each time a customer buys an energy plan via our website. We don’t arrange for products to be purchased directly, as all purchases are conducted via Econnex.

Any advice presented above is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an energy plan. For further information on the variety of energy plans compared by Econnex, or how their business works, you can visit their website.