Diamond Energy GridCredits100
There are times when the energy stored in your battery can deliver value to us and the grid.
With GridCredits100 we can initiate the purchase of your stored battery electricity and you will earn 100 cents/kWh* – helping you reduce your bill a bit more, just like a feed in credit!
Planning on installing a battery in the future?
Take the first step to ready your meter and retailer today!
^Clicking on this button confirms you have read, understand and accept our GridCredits100 Term and requirements.
Existing customer and want to get on to GridCredits100? Just let us know.
How does GridCredits100 work?
Want to find out more? You can read Canstar Blue review of GridCredits100. You can also read about Nick Pfitzner (in NSW) and Greg Barber (in Vic) who switched to Diamond Energy and are receiving GridCredits100 with their new batteries.
Will I need to upgrade my meter?
If you are about to install solar and battery, you should (i) switch to Diamond Energy (above) before your installation, and (ii) let us know you are going to GridCredits100 (in the sign up form).We will arrange for the correct meter to be installed and ensure a smooth transition.
If you are in NSW, ask your installer for a bi-directional interval meter – they may be able to help you with this.
If you already have solar and battery, you can (i) switch to Diamond Energy (above) and (ii) include the statement in the sign up form “I request my meter to be upgraded to an interval bi-directional meter for GridCredits100 and agree to be charged in my electricity account”.
Not sure if you have the right meter? You can (i) switch to Diamond Energy (above) and (ii) include the statement in the sign up form “Please let me know if my meter is a bi-directional interval meter ready for GridCredits100”
What are the costs of upgrading my meter?
Our costs for installation of an interval bi-directional meter in metropolitan areas are as follows:
- Single phase meter – $295 (exclusive of GST)
- Single phase + controlled load – $335 (exclusive of GST)
- Three phase – $385 (exclusive of GST)
Additional charges may apply if your property is located outside of metropolitan areas[typically $100 (exclusive of GST)]and also if your switchboard requires upgrading or re-wiring.
The cost of your meter upgrade will be included in your Diamond Energy electricity bill.
Are there any additional charges with GridCredits100?
How many GridCredits100 events may I experience?
High volatility events have been relatively frequent across both Queensland and South Australia coinciding with periods of high demand. The end of 2016 and first quarter of 2017 have been particularly volatile in these markets.
Victoria and NSW have experienced a smaller number of potential Grid Credit Events in this period.
How many Grid Credit Events will occur in the future? This is tough to estimate. However, recent closures of coal fired generators such as Hazelwood in Victoria and higher gas prices are likely to have an impact.
*Potential Grid Credit Events is based on Diamond Energy’s estimated number of high price events in the National Electricity Market over the defined period.