FAQ

Frequently Asked Questions

ABOUT THE OPEN ELECTRICITY MARKET

Since 1 April 2018, Singapore has made it possible for consumers to select an authorised retailer to purchase electricity from. The Open Electricity Market (OEM) is currently in a soft launch phase. For the soft launch, residential and small business consumers residing in Jurong (postal codes starting with 60, 61, 62, 63 or 64) have the option to select their preferred electricity retailer. In the second half of 2018, all Singapore residential and small business consumers will be able to take advantage of the OEM, when it is fully launched.

The soft launch of the OEM in Jurong is to allow the Energy Market Authority (EMA), SP Group, and electricity retailers to gather feedback and fine-tune processes where necessary, to enhance the consumer experience of buying electricity in a competitive market. Jurong was chosen as the consumer demographics are representative of Singapore’s population.

EMA is working to extend this choice and flexibility to consumers in the rest of Singapore from the second half of 2018 onwards.

The EMA’s intention is to introduce a variety of electricity plans that cater to different types of users. This will allow consumers to choose an electricity plan that meets their specific needs.

SWITCHING TO DIAMOND ELECTRIC

The process is very simple. Select your preferred electricity plan. Click here to see details of our electricity plans, then fill out an online application and make a security deposit.

If you are a residential consumer, and do not opt for a new AMI Meter (i.e. Smart Meter) to be installed by SP Group, it will take 5 business days.

If you are a business consumer, or require a new AMI Meter (i.e. Smart Meter) to be installed by SP Group , it could take longer, up to 30 days.

No, there will not be any electricity disruption. The electricity infrastructure is still maintained by SP Group, which means that there will be no change to your existing meter (unless you opt for a new AMI Meter i.e. Smart Meter) or wiring.  Diamond Electric will only be taking over the billing and financial obligations pertaining to your electricity supply.

In the event any electricity retailer ceases to operate, the EMA has mandated that all their customers will be switched back to SP Group. There will not be any disruption to the electricity supply.

No. There will not be any change to your existing meter (unless you opt for a new AMI Meter i.e. Smart Meter) or wiring. Your meter will continue to be managed and read by SP Group.

No. Residential customers do not need to install a new AMI Meter (i.e. Smart Meter), however if you choose to have one installed by SP Group, then there will be a meter installation fee by SP Group that Diamond Electric will pass through to you. 

Businesses are required to have an AMI Meter (i.e. Smart Meter) installed at their premises by SP Group to measure and remotely read their half-hourly electricity consumption. There will be a meter installation fee by SP Group that Diamond Electric will pass through to you. 

PLANS AND PRICING

Diamond Electric offers Discount off Tariff plans. Discount off Tariff plans offer you a percentage discount from the prevailing regulated tariff, so you can enjoy guaranteed savings. The tariff is revised by SP Group and is regulated by Energy Market Authority (EMA) every three months in January, April, July and October.

Click here to view all our plans.

The regulated tariff is published by SP Group and regulated by Energy Market Authority (EMA) every quarter. A discount off tariff provides a fixed percentage discount from this prevailing tariff to the consumer.

SP Group publishes the regulated tariff every quarter or once every three months. The regulated tariff applies as the tariff for customers of SP Group during the period for which it is announced. You can view the current regulated tariff at this site:

https://www.ema.gov.sg/Residential_Electricity_Tariffs.aspx

SP Group determines the tariff and this tariff is regulated by Energy Market Authority (EMA). It is a rate which is determined based on 2 main components – fuel cost and non-fuel cost. You can learn more about the breakdown of the regulated tariff at this site: https://www.ema.gov.sg/Residential_Electricity_Tariffs.aspx

There are no one-time or registration fees when you switch to Diamond Electric.

Diamond Electric is committed to providing rates and plans which are transparent. Some third-party charges may be passed on to our consumers. The full list of charges that may be applicable to you can be found here: https://diamond-electric.com.sg/resources/

Diamond Electric, a subsidiary of Diamond Energy, has been in the energy business for more than 10 years. We leverage on commercial efficiencies, such as technology, sales, and marketing to keep costs and overheads at an optimum level, thus keeping the prices for the electricity plans that we offer competitive and affordable.

BILLING AND PAYMENT

Please do not hesitate to contact us on 6-DIAMOND (6-342-6663) or email us at customerservice@diamond-electric.com.sg and we will glad to assist.

Only residential consumers will still be eligible for U-Save. Please click here for more information.

Your U-Save rebates will be applied to both your SP Group bill for water, gas and waste removal service (if any) and your Diamond Electric bill for electricity, in the following way:

  1. During the OEM soft launch, the U-Save rebates will be applied to your SP Group bill first and any remainder will be applied to your Diamond Electric bill. 
  2. For the full launch, your U-Save rebates will be applied proportionately to both your SP Group bill and your Diamond Electric bill.

For more information on U-Save Rebates, you can visit:

https://www.openelectricitymarket.sg/residential/faqs/usave-rebates.html

 

We have GIRO, internet banking, and cheque available as payment modes. Please visit diamond-electric.com.sg/payment

SECURITY DEPOSIT

A security deposit is required as a guarantee to cover any possible unpaid charges and will be returned to you upon fulfilment of your contract.

Your security deposit is calculated based on the last three months average electricity bill multiplied by two. Basically, a two-month bill amount is required to be placed as a security deposit.

If less than three month’s bills are available, we will use the bills for calculation. In the event that no bills are available, we will apply the standard rate to determine your security deposit. Please refer to this link for details on our standard Security Deposit rates.

SP Group will re-calculate the security deposit required by them in relation to the other services provided to you, such as water, gas, and waste removal services. The excess amount will then be credited to your SP Group account and be used to off-set your charges on subsequent bills for the remaining services provided.

Your Security Deposit will be returned to you after offsetting any balance in your account.

CONTRACTS, TERMS & CONDITIONS

Prior to your contract with Diamond Electric ending, you may contact us to select one of the plans that we have available for you at that time. If we do not hear from you, we will convert your account to our No Lock In Plan – 10% off the low tension regulated tariff with no lock in period or prevailing plan of similar nature.

If you are on a plan on which there is a contract period, and the contract period is not yet satisfied, you may be liable for an early termination penalty. Click here for more information.

Please do not hesitate to contact us on 6-DIAMOND (6-342-6663) and we’ll be glad to assist.

If you move to a different premise during the contract period, we can arrange to transfer the balance of your contract period to your new premises.

Yes, you can switch to Diamond Electric.

There may be an early termination charge, according to your contract.

Please click here for more information.

FEEDBACK AND CUSTOMER SERVICE

In the unlikely event that there is an electricity disruption, please do not hesitate to contact us. The electricity supply and infrastructure continue to be maintained by SP Group. You can contact us on 6-DIAMOND (6-342-6663) or contact SP Group directly at 1800-778-8888 for assistance.

Please do not hesitate to call us on 6-DIAMOND (6-342-6663) if you have any feedback.

If applicable, we have a dispute resolution process which can be found here. Should you have any feedback, we would like to hear from you and use that to engage with you in a mutually benefitting way, allowing us to provide you with superior service and continuous improvement.

We have various channels available for you to contact us and they are listed below:

Tel : 6-DIAMOND (6-342-6663, +65 6342-6663 from overseas)

Email : customerservice@diamond-electric.com.sg

Diamond Energy Merchants Pte. Ltd. 

Retail licence no. EMA/RE/009
Company registration no. 201116636
All rights reserved 2018

1 CleanTech Loop, #02-08 CleanTech One, Singapore 637141
Tel 6342 6663 | Fax 62423638
Email: enquiries@diamond-electric.com.sg