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Security Deposit
Residential Customers
Currently security
deposit is waived for residential customers when they sign up to
Diamond Electric.
Business Customers
Security deposit is
required for business customers. 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 enquiries@diamond-electric.com.sg for more information on the security deposit.
Adjustments To Security Deposit
Amount
Based on the business
customer’s monthly average electricity consumption, the
security deposit may adjust from time to time in accordance to
the formula below.
Security Deposit Calculation
Formula
(Average monthly consumption
based on the latest 3 months electricity consumption)
multiply by (The current regulated tariff ) multiply
by (2 months)
Fees & Charges
Value Added Services
• Paper bill
(optional) – $1.07 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 – $1.07 (inclusive of
GST)
• Credit / Debit / Cheque admin. charge per
payment rejection – $5.35 (inclusive of GST)
•
Account Closure / Termination Fee (collected on behalf of SP
Group) – $10.70 (inclusive of GST)
• Express
Closure Fee (for Freedom Plans only) – $32.10 (inclusive
of GST)
•
Ad-hoc meter reading request by customer – $21.40
(inclusive of GST)
Electricity
Tariff
Electricity tariffs are regulated by
the Energy Market Authority (EMA) and are revised every three
months. The current regulated tariff is 23.38 cents/kWh
without GST and 25.02 cents/kWh with GST (1 July
to 30 Sept 2021)
Relocation Of Contract
What Happens If I Move During The Contract
Period*?
If you relocate premises during the
contract period, please contact us at custcare@diamond-electric.com.sg 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 custcare@diamond-electric.com.sg 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.
* Relocation is not
applicable to Freedom Plans.
Early Termination Fee
The Formula To Calculate Early Termination
Fee*
(50% of the average monthly bill
based on the last 3 months’ bills) multiply by (number
of unfulfilled contract months)
Example: Supposed your last 3 months bills is $90, $140 and $130. Your average monthly bill is $120. You have 3 months remaining in your contract, when you want to proceed with an early termination, the amount is: 50% x ($120) x 3 months = $180
* Early termination charges are not applicable to Freedom Plans.
Express Closure Fee
For Freedom Plans Only
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 written notice, an Express Closure Fee of
$32.10 (inclusive of GST) will apply.
Diamond Electric Pte Ltd | All Rights Reserved 2021
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