The calculation of the security deposit is 2 months electricity bills. Please refer to the formula below.
In the event that no bills are available, please contact us at 6-DIAMOND (6342 6663) or email us at email@example.com for more information on the security deposit
Adjustments To Security Deposit
Based on the customer’s monthly average electricity consumption, the security deposit may adjust from time to time in accordance to the formula below.
Security Deposit Calculation
(Average monthly consumption based on the latest 3 months electricity consumption) multiply by (The current regulated tariff ) multiply by (2 months)
Value Added Services
• Paper bill (optional) – $5.35 per paper bill (inclusive of GST)
• AMI meter installation fee, if applicable (collected on behalf of SP Group) – $42.80 (inclusive of GST)
Other Charges (If Applicable)
• GIRO admin. charge per GIRO rejection – $5.35 (inclusive of GST)
• Credit Card & AXS payment modes – Additional 1% per transaction
• Credit / Debit / Cheque admin. charge per payment rejection – $21.40 (inclusive of GST)
• Account Closure / Termination Fee (collected on behalf of SP Group) – $10.70 (inclusive of GST)
• Express Closure Fee – $53.50 (inclusive of GST)
• Ad-hoc meter reading request by customer – $21.40 (inclusive of GST)
Electricity tariffs are regulated by the Energy Market Authority (EMA) and are revised every three months. Please refer here https://www.ema.gov.sg/Residential_Electricity_Tariffs.aspx for the current regulated tariff rates.
What Happens If I Move During The Contract
There is no relocation of contract. You may terminate the account and sign up with us again for the new premise.
Customers who are on Freedom Plans may terminate these plans without early termination charges, by giving us 1 month’s written notice. For termination of the Freedom Plans with less than 1 month’s advance written notice, an Express Closure Fee of $53.50 (inclusive of GST) will apply.
The process is very simple. Select your preferred electricity plan. Once you have selected the plan, you will be directed to the following documents. Please read them thoroughly:
1) Consumer Advisory Notice
2) Fact Sheet of the plan
3) Key Terms and Conditions
The documents include the following key information:
and then fill out an online application, and make a security deposit.
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.
Yes you may switch to Diamond Electric provided there is no outstanding arrears with SP Group. You are also required to change to normal meter scheme. There is no cost for the change of meter scheme. Kindly email us at firstname.lastname@example.org or call us at 6-DIAMOND (6342 6663) for more information.
Yes, you may sign up on behalf of the Account Holder. Applications that are not made directly by the Account Holder require authorisation by the Account Holder. During the enrollment process, please select ‘No’ when asked if you are the Account Holder. Please download the Third Party Authorisation Letter, fill it in with the relevant information, and upload it together with the relevant documents to the online enrollment page later in the enrollment process.
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 7 to 10 business days.
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 of $42.80 (inclusive of GST) by SP Group that Diamond Electric will collect on SP Group’s behalf.
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 saving. The tariff is revised by SP Group and is regulated by Energy Market Authority (EMA) every 3 months in January, April, July and October.
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 list of charges that may be applicable to you can be found at General Information.
Diamond Electric 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.
Please do not hesitate to contact us on 6-DIAMOND (6-342-6663) or email us at email@example.com and we will glad to assist.
Your U-Save rebates will be applied to both your SP Services bill for water, gas and waste removal service (if any) and your Diamond Electric bill for electricity, in the following way:
The U-Save rebates will be applied to your SP Services bill first and any remainder will be applied to your Diamond Electric bill. For more information, please visit: https://www.openelectricitymarket.sg/residential/faqs/u-save-rebates for more information.
We have GIRO, Credit / Debit Cards, AXS and internet banking available as payment modes. Please note that there is no cheque payment mode. Please log in to your Customer Portal for the details.
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, please contact us at 6-DIAMOND (6342 6663) or email us at firstname.lastname@example.org for more information on the security deposit.
Upon successful switch from SP Services to Diamond
Electric, approximately 65% of your security deposit
with SP Services will be credited into your SP Services
account, which will offset non-electricity charges with
them. In the event there is any balance, it will be used
to offset future non-electricity charges with SP
Services. Alternatively, you may request SP Services to
refund the security deposit allocated to SP Services
electricity account, to you.
The balance 35% of the SP Services security deposit will remain in your SP Services account as the security deposit for the non-electricity services.
Your security deposit may be adjusted, based on your average monthly electricity consumption from time to time, in accordance to the security deposit formula indicated in the General Information.
Your security deposit will be returned to you after offsetting any outstanding balance in your electricity account.
You may terminate the Freedom plans without early termination charges, by giving us 1 month’s advance written notice. For termination of the Freedom Plans with less than 1 month’s advance written notice, an Express Closure Fee of $53.50 (inclusive of GST) will apply.
There will be a charge of
$10.70 (inclusive of GST) for account closure collected
on behalf of SP Group in the event you close your
account directly with us.
You may contact us at Tel : 6-DIAMOND (6-342-6663, +65 6342-6663 from overseas) or Email : email@example.com for more information.
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 : firstname.lastname@example.org