Diamond Energy
Diamond Energy is a 100% Australian-owned electricity retailer and renewable energy generator serving residential, small business, and commercial/industrial customers across VIC, NSW, QLD, SA, TAS, and ACT, operating a 67-generator portfolio with AI-driven Diamond GEM wholesale optimization, Diamond CLEAN Virtual Energy Network, WATTBANK VPP, and GreenPower-certified products.
- Company typePrivate
- Founded2009
- HeadquartersPrahran, Australia
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What Diamond Energy does
Diamond Energy is an Australian privately-held electricity retailer and renewable energy generator operating across all six NEM states (VIC, NSW, QLD, SA, TAS, ACT). The company sells electricity to residential, small business, and commercial/industrial customers under the Diamond Everyday Offer, with add-on modules including GreenPower-certified Diamond Pure Plus, GridCredits100 feed-in credits, WATTBANK Virtual Power Plant for battery owners, and the Diamond CLEAN Virtual Energy Network for large C&I customers. The company is 100% Australian-owned with management and employees holding more than 80% of shares.
The technology stack centers on Diamond GEM, an AI-driven energy management platform that automates wholesale market bidding, mitigates negative pricing, manages FCAS exposure, and optimizes dispatch against AEMO Regional Reference Prices for the company's own 67-generator portfolio and third-party generators. Diamond CLEAN extends this to multi-NMI load balancing for large customers with AI monitoring on 5-minute intervals. The WATTBANK VPP integrates distributed residential batteries into a dispatchable asset fleet earning grid services revenue. Pricing is usage-based with ongoing discounts (not teaser rates), competitive feed-in rates (10.2c/kWh), and VPP credit tiers of $250–$450/annum.
Diamond Energy's commercial model combines a self-serve online acquisition channel for residential customers, a dedicated commercial sales team for C&I accounts, and a Thrive referral program providing 2% cumulative discounts. Revenue streams include usage-based electricity retail, GreenPower premiums (2.75–5.50 c/kWh), VPP managed services, and generation services (AEMO registration, LGC management, dispatch via GEM). The company has been independently audited as "beyond carbon neutral" (Scope 2 supplier-specific factor of -0.82 tonnes CO2e/MWh in 2023) and has received CHOICE Best Electricity Provider awards in 2022 and 2023 plus a 5-star Greenpeace Green Electricity Guide rating.
Diamond Energy firmographics
Firmographics- Name
- Diamond Energy
- Legal name
- Diamond Energy
- Website
- https://diamondenergy.com.au
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Diamond Energy is a 100% Australian-owned electricity retailer and renewable energy generator serving residential, small business, and commercial/industrial customers across VIC, NSW, QLD, SA, TAS, and ACT, operating a 67-generator portfolio with AI-driven Diamond GEM wholesale optimization, Diamond CLEAN Virtual Energy Network, WATTBANK VPP, and GreenPower-certified products.
- Ownership category
- akta.pro rank
Diamond Energy industry classification
Industry- Product category
- Renewable Electricity Retail
- NAICS
- Electric Power Generation, Transmission and Distribution (2211), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Biomass Electric Power Generation (221117), Hydroelectric Power Generation (221111)
- SIC
- Electric Services (4911)
- akta.pro primary industry
- Retail Billing, Customer Care & CIS/BSS Operations (for Residential/SMB) (EUAGABAK)
- akta.pro secondary industry
- Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ)
Keywords
Where Diamond Energy is headquartered
LocationHeadquarters
- HQ city
- Prahran
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Diamond Energy business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Electricity Retail: Diamond Energy generates revenue primarily through retail electricity supply to residential, small business, and commercial/industrial customers across VIC, NSW, SA, and QLD. Customers pay for electricity consumption based on usage charges and daily supply charges.
- GreenPower Premium: Customers can opt to purchase GreenPower accredited renewable energy at premium rates (100% GreenPower at 5.50 cents/kWh or 50% at 2.75 cents/kWh), providing additional revenue through certified renewable energy certificates.
- Virtual Power Plant Services: Diamond Energy manages customer battery systems through VPP programs, earning revenue through grid services and battery optimization while providing customers with credits for participation.
- Generation Services: Provides AEMO registration, settlement services, LGC creation and management, dispatch services through Diamond GEM, and fixed or hybrid PPA structures for renewable energy generators.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | Standard Electricity Offer with Feed-in Credits |
| Subscription | Monthly | GreenPower Premium Options |
| Usage-based | Annual | WATTBANK VPP Program |
| Subscription | Monthly | Thrive Referral Program |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Diamond Energy product offering
Product offeringCore offering
Diamond Energy is a 100% Australian-owned renewable energy retailer and generator that sells electricity to residential, small business, and commercial/industrial customers across all NEM regions (VIC, NSW, QLD, SA, TAS, ACT). The company sources electricity from a portfolio of 67+ renewable generators and supplements retail supply with GreenPower options, solar feed-in credits, virtual power plant services, AI-driven wholesale market optimization for generators, and community solar programs.
Product overview
Diamond Energy is an Australian 100% renewable energy retailer offering a unified retail electricity platform with specialized add-on modules. The core product is the Diamond Everyday Offer, a retail electricity plan spanning residential, small business, and commercial/industrial segments. This platform is augmented by Diamond Pure Plus (GreenPower accreditation), the AI-powered Diamond GEM management platform for generators and large customers, the Diamond CLEAN virtual energy network for commercial portfolio optimization, WATTBANK VPP for residential battery integration, GridCredits100 for enhanced solar feed-in credits, and the Thr1ve loyalty/referral program. The Green Communities initiative extends access to renewable energy for underserved communities. Operations span VIC, NSW, SA, and QLD across all NEM regions.
Differentiator
Problem solved
Functional benefit
Brands
- WATTBANK VPP: Virtual Power Plant program allowing customers to share excess solar and battery energy with the grid and earn rewards.
- Diamond CLEAN
- Diamond GEM
- Diamond Pure Plus
- GridCredits100
- Thrive
- Switch4Good
Products and services
- Diamond Everyday Offer Primary retail electricity plan for residential and small business customers in VIC, NSW, SA, and QLD, offering ongoing discounts on usage and supply charges while preserving solar feed-in credits.
- Diamond Pure Plus (GreenPower) Government-accredited GreenPower product allowing residential and business customers to source 50% or 100% of their electricity consumption from GreenPower-certified renewable generators.
- Diamond GEM AI-driven energy management platform that automates and optimizes wholesale market bidding, mitigates negative pricing, manages FCAS exposure, and aligns generator dispatch with AEMO Regional Reference Price. Includes AEMO settlement, LGC creation, and CER compliance management.
- Diamond CLEAN (Client Leveraged Energy Acquisition Network) Virtual Energy Network for large commercial and industrial customers enabling direct offset between customer energy usage and renewable generator exports across multiple NMI connection points, with AI-powered 5-minute monitoring and control.
- WATTBANK VPP Virtual Power Plant program enabling residential customers with compatible solar and battery systems (Sungrow or Alpha ESS inverters) to share excess energy with the grid and earn VPP Credits ($250-$450 per annum) plus Battery Usage Credits at 30c/kWh for energy exported between 6pm-8am.
- GridCredits100 Additional solar feed-in credit product for residential customers with solar panels and batteries, functioning as a supplementary credit on top of standard feed-in tariffs.
- Green Communities Community solar initiative that delivers rooftop solar systems to public housing tenants, retirement villages (2,250 systems installed), community centers (20 installed), and supports peer-to-peer renewable energy offset programs with local councils.
Quantifiable outcome
- Scope 2 Supplier Specific electricity factor was a weighted negative -0.82 tonnes of CO2e/MWh in 2023, demonstrating net-negative carbon footprint
- +2 more outcomes
Companies that use Diamond Energy
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
Diamond Energy technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
AI capability3 records
Feature4 records
Diamond Energy partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered flagship and core.
- Sunshine Coast CouncilflagshipSince 2017, Diamond Energy has supported Sunshine Coast Council in offsetting all its electricity consumption with 15MW renewable energy from its own solar farm using peer-to-peer model.
- SA Power NetworkscoreDistribution network operator partnership for electricity supply in South Australia. Diamond Energy supplies electricity across SA Power Networks distribution area.
- AusgridcoreDistribution network operator partnership for electricity supply in New South Wales (Sydney area). Diamond Energy supplies electricity across Ausgrid distribution area.
- Endeavour EnergycoreDistribution network operator partnership for electricity supply in New South Wales (Western Sydney area). Diamond Energy supplies electricity across Endeavour Energy distribution area.
- Essential EnergycoreDistribution network operator partnership for electricity supply in New South Wales (regional areas). Diamond Energy supplies electricity across Essential Energy distribution area.
- EnergexcoreDistribution network operator partnership for electricity supply in Queensland (South East Queensland). Diamond Energy supplies electricity across Energex distribution area.
- JemenacoreDistribution network operator partnership for electricity supply in Victoria (Melbourne inner areas). Diamond Energy supplies electricity across Jemena distribution area.
- AusNet ServicescoreDistribution network operator partnership for electricity supply in Victoria (Eastern Melbourne and surrounding areas). Diamond Energy supplies electricity across AusNet Services distribution area.
- CitipowercoreDistribution network operator partnership for electricity supply in Victoria (Melbourne CBD). Diamond Energy supplies electricity across Citipower distribution area.
- PowercorcoreDistribution network operator partnership for electricity supply in Victoria (regional areas). Diamond Energy supplies electricity across Powercor distribution area.
- United EnergycoreDistribution network operator partnership for electricity supply in Victoria (South Eastern Melbourne). Diamond Energy supplies electricity across United Energy distribution area.
- WATTBANK VPP PartnerscoreIntegration partnerships with inverter manufacturers including Sungrow and Alpha ESS for Virtual Power Plant participation. Also includes Goodwe, Fronius, LG and other brands with registration of interest for future integration.
- Latrobe City CouncilcoreAdopted similar renewable energy offset model to Sunshine Coast Council partnership, offsetting council electricity consumption with renewable energy.
- GreenPowercoreDiamond Energy is an accredited GreenPower provider, offering Diamond Pure Plus product certified under the National GreenPower Accreditation Program.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Diamond Energy competitors and assessment
Company assessmentDirect peers
- Powershop Australia: Renewable-focused electricity retailer serving Australian residential and SMB customers, now owned by Shell Energy. Directly comparable as a green-positioned retail challenger with a similar mission-driven brand and digital signup model in overlapping NEM states.
- Alinta Energy: Australian-owned electricity and gas retailer serving residential, SMB, and C&I customers across multiple NEM states. Comparable as a mid-tier challenger retailer with overlapping geographic footprint and customer segments, including growing renewable product offerings.
- Simply Energy: Mid-tier Australian electricity and gas retailer (owned by Shell) operating in VIC, NSW, SA, QLD, and WA. Comparable as a multi-state NEM retailer targeting residential and C&I customers with green energy options, competing for the same customer base as Diamond.
- Momentum Energy: Australian electricity retailer serving residential, small business, and C&I customers across NEM states. Comparable as a mid-tier multi-state retailer competing in the same segments with similar go-to-market approach for residential and commercial customers.
Emerging players
- Amber Electric: Tech-forward Australian electricity retailer offering real-time wholesale pass-through pricing and integrated smart battery controls. Comparable as a digitally native, residential-focused NEM retailer pursuing customers who value transparency and battery optimization — directly overlapping with Diamond's WATTBANK VPP proposition.
- Reposit Power: Australian distributed energy and VPP software company that aggregates residential batteries to provide grid services. Comparable as a competitor in the residential battery VPP space that Diamond targets with WATTBANK, though Reposit is software-focused while Diamond combines retail + VPP.
Broad incumbents
- AGL Energy: Australia's largest electricity and gas retailer and a major renewable generator (operates wind, solar, hydro, and battery assets). Comparable as a vertically integrated NEM retailer with overlapping customer segments and a growing renewable portfolio, though AGL's scale and coal legacy differ materially.
- Origin Energy: Major Australian integrated energy retailer and generator with growing renewable exposure (solar, wind, batteries). Comparable as a multi-state NEM retailer competing for the same residential and C&I customers, with broader portfolio but less concentrated renewable positioning.
- EnergyAustralia: One of the Big 3 Australian electricity and gas retailers, owned by CLP Group, with significant generation including renewables. Comparable as a multi-state NEM retail competitor targeting residential and C&I customers with green product options, though at materially larger scale.
- Tesla Energy: Global provider of Powerwall residential batteries and integrated VPP services (including in Australia via partnerships with retailers). Comparable as a VPP ecosystem player whose hardware and software stack shapes the addressable market for Diamond's WATTBANK VPP program.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Diamond Energy social profiles
Digital presenceDiamond Energy compliance and trust
Trust signalCompliance4 records
Diamond Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Diamond Energy leadership team
Management profileNumber of profiles
Diamond Energy funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Diamond Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Diamond Energy
What does Diamond Energy do?
Diamond Energy is a 100% Australian-owned renewable energy retailer and generator that sells electricity to residential, small business, and commercial/industrial customers across all NEM regions (VIC, NSW, QLD, SA, TAS, ACT). The company sources electricity from a portfolio of 67+ renewable generators and supplements retail supply with GreenPower options, solar feed-in credits, virtual power plant services, AI-driven wholesale market optimization for generators, and community solar programs.
Is Diamond Energy a public or private company?
Diamond Energy is a private company. It is classified as management employee owned and is currently operating.
When was Diamond Energy founded?
Diamond Energy was founded in 2009. It employs 1 to 10 people.
Where is Diamond Energy based?
Diamond Energy is headquartered in Prahran, Australia, in the Oceania region.
How does Diamond Energy make money?
Four revenue lines are on record. Electricity Retail is the primary driver. The others are greenPower Premium, virtual Power Plant Services and generation Services.
Who are Diamond Energy's main competitors?
Direct peers on record are Powershop Australia, Alinta Energy, Simply Energy and Momentum Energy. Emerging players are Amber Electric and Reposit Power. Broad incumbents are AGL Energy, Origin Energy, EnergyAustralia and Tesla Energy.
Does Diamond Energy have an API?
No public API is recorded for Diamond Energy.
What industry is Diamond Energy in?
Diamond Energy's product category is Renewable Electricity Retail. Its primary akta.pro industry code is EUAGABAK, Retail Billing, Customer Care & CIS/BSS Operations (for Residential/SMB), with a secondary code of EUACALAJ, Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro). Its NAICS code is 2211 and its SIC code is 4911.