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Security Deposits
RESIDENTIAL
Currently security deposit is waived for residential customers when they sign up to Diamond Electric's plans
BUSINESS
The calculation of the Security Deposit is 2 months electricity bills and the formula is:
(Average monthly consumption based on the latest 3 months electricity consumption) multiply by (The current regulated tariff) multiply by (2 months)
Business customers – In the event that no historical billing information is available, kindly contact our customer service hotline at6-DIAMOND (6342-6663).
ADJUSTMENTS TO SECURITY DEPOSIT AMOUNT
Based on the business customer’s monthly average electricity consumption, the Security Deposit amount may adjust from time to time in accordance to the formula above.
Schedule of Third-party rates
| Description | Rate | Unit | Party Charged To |
| EMC Charges | |||
| Energy Market Company Administration Charges (EMC Fees) | variable | $ / kWh | Diamond Electric |
| Power System Operator Administration Charges (PSO Fees) | variable | ||
| Hourly Energy Uplift Rebate (HEUR) | variable | ||
| Monthly Energy Uplift Charges (MEUC) | variable | ||
| Allocated Regulation Price (AFP) | variable | ||
| Uniform Singapore Energy Price (USEP) | variable | ||
| Transmission Use-of-System Charges | |||
| Peak Period Charges | $ 0.0568 | $ / kWh | Diamond Electric |
| Off Peak Period Charges | $ 0.0427 | ||
| Recurring Market Support Service Charges | |||
| Meter Reading and Data Management | $ 2.33 | $ / meter | Diamond Electric |
| Market Development and Systems Charge | $ 0.004263 | $ / kWh | |
| Retail Settlement Uplift | $ 0.001217 | $ / kWh | |
| Telephone Line Subscription used for Remote Meter Reading (if applicable) | Fixed Line: $13.38/month GSM Line: $16.05/month | $ / account | Consumer |
| Value Added Services | |||
| Paper Bill (if applicable) | $1.07 | $ / bill | Consumer |
| AMI Installation Fee if applicable (Collected on behalf of SP Group) | $42.80 | $ / per meter | Consumer |
| Other Charges | |||
| GIRO Admin. Charge per GIRO Rejection | $1.07 | $ / time | Consumer |
| Credit/Debit/Cheque Admin. Charge per Payment Rejection | $5.35 | $ / time | Consumer |
| Account Closure or Account Closure Termination or Account Closure Change of Date (Collected on behalf of SP Group) | $10.70 | $ / time | Consumer |
| Express Closure Fee (For Freedom Plans only) | $32.10 | $ / time | Consumer |
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*Electricity tariffs are regulated by the Energy Market Authority (EMA) and are revised every three months. The current regulated tariff is 19.60 cents/kWh without GST and 20.97 cents/kWh with GST (1 July to 30 September 2020)
Please view Terms & Conditions here.
Account Closure & Account Closure changes charges (Collected on behalf of SP Group)
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. There will be an additional charge of $10.70 (inclusive of GST) for each change of the account closure date or each termination of the account closure collected on behalf of SP Group (inclusive of GST).
You may contact us at Tel : 6-DIAMOND (6-342-6663, +65 6342-6663 from overseas) or Email : custcare@diamond-electric.com.sg for more information.
Early Termination
The formula to calculate the early termination penalty is:
(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
Powering Singaporean homes and businesses
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Diamond Energy Merchants Pte. Ltd.
Electricity Retail licence no. EMA/RE/009
Company registration no. 201116636
All rights reserved 2020
1 CleanTech Loop, #02-07 CleanTech One, Singapore 637141
Tel 6342 6663
Email: enquiries@diamond-electric.com.sg
Terms and Conditions
Standard Terms and Conditions
Standard Complaints Dispute Procedure