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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

DescriptionRateUnitParty Charged To
EMC Charges
Energy Market Company Administration Charges (EMC Fees)variable$ / kWhDiamond 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$ / kWhDiamond Electric
Off Peak Period Charges $                                     0.0427
Recurring Market Support Service Charges
Meter Reading and Data Management $                                         2.33$ / meterDiamond 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
$ / accountConsumer
Value Added Services
Paper Bill (if applicable)$1.07$ / billConsumer
AMI Installation Fee if applicable (Collected on behalf of SP Group)$42.80$ / per meterConsumer
Other Charges
GIRO Admin. Charge per GIRO Rejection$1.07$ / timeConsumer
Credit/Debit/Cheque Admin. Charge per Payment Rejection $5.35$ / timeConsumer
Account Closure or Account Closure Termination or Account Closure Change of Date (Collected on behalf of SP Group)$10.70$ / timeConsumer
Express Closure Fee (For Freedom Plans only) $32.10$ / timeConsumer

C

*Electricity tariffs are regulated by the Energy Market Authority (EMA) and are revised every three months. The current regulated tariff is 23.02 cents/kWh without GST and 24.63 cents/kWh with GST (1 April to 30 June 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

 

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Powering Singaporean homes and businesses

Diamond Energy Merchants Pte. Ltd. 

Electricity Retail licence no. EMA/RE/009
Company registration no. 201116636
All rights reserved 2019

1 CleanTech Loop, #02-07 CleanTech One, Singapore 637141
Tel 6342 6663 | Fax 6692 7741
Email: enquiries@diamond-electric.com.sg

For media enquiries, please contact us here