Enjoy Greater Savings with Diamond Electric & Maybank!
About 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) will be launching progressive in Singapore. For the soft launch, residential and small business consumers residing in Jurong (postal codes starting with 60 to 64) have the option to select their preferred electricity retailer. From 1st November 2018, all residential and small business consumers in Zone 1 (postal codes starting with 58 to 78) will be eligible. From 1st January 2019, all Singapore residential and small business consumers residing in Zone 2 (postal codes starting with 53 to 57, 79 to 80 and 82 to 83) will also be eligible to switch to Diamond Electric.
Starting from 1st March 2019, residential and small business consumers residing in Zone 3 (postal codes starting with 34 to 52 & 81) will be eligible to switch to Diamond Electric.
Starting from 1st May 2019, all residential and small business consumers will be eligible.
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’s Maybank Saver Plan
The Maybank Saver Plan is an exclusive electricity plan available only to Maybank Cardholders who setup recurring card payment using Maybank Cards for the electricity bills. You will enjoy discount off the low tension regulated tariff for your homes. You will also enjoy bill rebate on your 1st month’s bill!
The Maybank Saver Plan offers you a percentage discount from the prevailing regulated tariff, so you can enjoy guaranteed savings each month, every month. This tariff is revised by SP Group and is regulated by Energy Market Authority (EMA) every three months, in January, April, July, and October.
There are no one-time fees or registration fees when you switch to Diamond Electric.
You may sign up with us immediately.
The process is very simple. Select the Maybank Saver Plan, click on “Sign up”, then fill in an online application. We will contact you shortly to complete the application.
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.
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.
The Regulated Tariff
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 regulated 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
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: /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 email@example.com and we will be glad to assist.
Only residential consumers will still be eligible for U-Save. Please visit: https://www.openelectricitymarket.sg/residential/faqs/u-save-rebates 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:
The U-Save rebates will be applied to your SP Group 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.
Security Deposit (Currently Waived for Residential Customers)
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. (Currently security deposit is waived for residential consumers when they sign up to our plans)
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 /resources/ 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 may be adjusted, based on your average monthly electricity consumption from time to time, in accordance to the Security Deposit Formula indicated here.
Your Security Deposit will be returned to you after offsetting any balance in your account.
Contract Terms and Switching Out
One month prior to your contract with Diamond Electric ending, we will notify on the plans we have available for you at that time.
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. Visit /resources/ for more information.
Please do not hesitate to contact us on 6-DIAMOND (6-342-6663) and we’ll be glad to assist.
There will be a charge of $10.70 (inclusive of GST) for account closure collected on behalf of SP Services in the event you close your account directly with us
you may notify us 30 days in advance to allow us to switch your account back to SP Services, there will not be any charge. You may then proceed to close your account with SP Services after the transfer effective date.
If you are renting or selling your property, kindly inform the new tenant or the new owner to apply for SP Services only after your account has been successfully switched back to SP Services to avoid the charge of $10.70 (inclusive of GST) for account closure collected on behalf of SP Services.
You may contact us at Tel : 6-DIAMOND (6-342-6663, +65 6342-6663 from overseas) or Email : firstname.lastname@example.org for more information.
If you relocate premises during the contract period, please contact us at email@example.com at least 30 days before you move out. There will be an account closure fee of $10.70 (inclusive of GST) collected on behalf of SP Group as well as an early termination charge applicable for your contracted premise.
Contact us within 4 months at firstname.lastname@example.org to sign up for your new premise to resume the remaining period of the previous contract at the same rates. Upon resuming the contract successfully on your new premise with us, we will credit the early termination charge to your new electricity account.
* Relocation means the change of premise address only. The Account Holder does not change.
Yes, you can switch to Diamond Electric.
Feedback & 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 : email@example.com
Diamond Energy Merchants Pte. Ltd.
Electricity 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