Diamond Electric Electricity Retailer Review: A Good Fit For Your Home?

Diamond Electric Electricity Retailer Review: A Good Fit For Your Home?

Diamond Electric offers affordable tariff discounted rates.

Good for

  • UOB One credit cardholders
  • Individuals seeking an personal accident policy

Bad for

  • Individuals seeking an affordable fixed rate electricity plan
  • Individuals seeking cheaper electricity rates at night

Editor's Rating

4.0/5.0

Diamond Electric offers competitive electricity rates, making it worth considering if you're planning to switch retailers. For example, Diamond charges a discounted rate of 25% off of the regulated tariff, and 5% off their rates to UOB One credit card customers. Therefore, if you have a UOB credit card and are interested in an electricity plan that is based around the tariff, then Diamond Electric is your best option.

Summary of Diamond Electric's Service
Competitive Tariff Discounted Rates: up to 25% off (currently S$18.47)
Discounts for UOB One Customers: 5% rebate
No Security Deposit Required

Table of Contents

What Makes Diamond Electric Stand Out to Consumers?

Diamond Electric charges relatively cheap rates compared to its competitors. For example, several of its plans charge 25% less than the regulated tariff, ensuring that households will consistently pay less than that rate. Additionally, UOB One cardholders can receive an extra 5% off their bill. Despite these competitive rates, Diamond Electric does not offer a fixed rate plan. This is a disadvantage because these plans are typically less expensive than tariff discounted rates, on average. Still, if you are a current UOB One customer (or will become one soon) and prefer a tariff discounted rate electricity plan, Diamond Electric might be a good fit.

PlanContract DurationPricing TypeRate (per kWh)Est. Monthly Bill
Sure Save12 months25.0% Tariff Discount18.47¢$69.27
FREEDOMNo Lock-In21.0% Tariff Discount19.46¢$72.97
UOB Saver12 months25.0% Tariff Discount18.47¢$69.27
Maybank Saver12 months25.0% Tariff Discount18.47¢$69.27

How to Enroll: Diamond Electric Sign-Up Process

Consider this if you are a are interested in competitive tariff discounted plans

If you are interested in signing up for one of Diamond Electricity's plans, you can do so by clicking any of the buttons on this page. The electricity company will ask you to select your preferred plan, read through the plan's documentation and provide your NRIC/FIN copy. Diamond Electricity also asks potential customers for their contact information, address, property type and electricity usage patterns.

Consider this if you want a competitive cashback card and want to save 5% on your Diamond Electricity plan

Annual Income Requirement S$30,000
Foreigner Income Requirement S$40,000

If you are interested in signing up for a UOB One card, you can use the toggle above to learn more about its benefits and apply. To read more about other competitive credit cards for recurring bill payments, please reference our full guide.

Other Notes: Diamond Electric Charges & Fees

While Diamond Electricity is one of Singapore's more affordable electricity retailers, it is important to be aware of its fees. These fees are standard across retailers; however, incurring these fees will impact the total cost of their plans, so it is important to be aware of their costs.

FeeAmount
AMI Meter Installation FeeS$42.80 per Meter (if applicable)
Paper BillS$1.07 per Bill (Optional)
Express Closure FeeS$32.10 (For Freedom Plans only)
Registration FeesNone
William Hofmann

William is a Product Manager at ValueChampion Singapore, focusing on banking and SMEs. He previously was an Economic Consultant at Industrial Economics Inc.

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