Diamond Energy Pty Ltd

The Australian Competition and Consumer Commission (ACCC) has accepted a court enforceable undertaking from Diamond Energy Pty Ltd (Diamond Energy) in relation to Diamond Energy, failing to include information required under the Competition and Consumer (Industry Code – Electricity Retail) Regulations 2019 (the Code) in price change communications to customers and on its website. 

Diamond Energy is an electricity retailer operating in Australia and is authorised under the National Energy Retail Law to sell electricity to residential and small business customers in New South Wales, South Australia and South East Queensland.

Conduct of Concern

The ACCC alleges that:

1. In June 2024, Diamond Energy sent price change communications to 12,809 small customers in New South Wales, South Australia and Southeast Queensland, which did not contain the following information required by section 12(2) of the Code:
   1. the percentage difference between the reference price and unconditional price (pursuant to section 12(3)(a));
   2. for each proportional conditional discount mentioned in the communication, the difference between the unconditional price and the conditional price for the discount, expressed as a percentage of the reference price (pursuant to section 12(3)(b)); and
   3. the lowest possible price applicable if a customer achieves all conditional discounts (pursuant to section 12(3)(c)).

2. Between 1 January and 30 June 2024, in respect of 44 of its plans, and then also between 1 July 2024 and 20 September 2024, following a change in the Default Market Offer price in respect of a further 44 (different) plans, Diamond Energy’s website did not state the following information required pursuant to section 12(2) of the Code:
   1. for each proportional conditional discount mentioned in the communication, the difference between the unconditional price and the conditional price for the discount, expressed as a percentage of the reference price (pursuant to section 12(3)(b)); and
   2. the lowest possible price applicable if a customer achieves all conditional discounts (pursuant to section 12(3)(c)).

In response to the ACCC’s concerns, Diamond Energy has provided the ACCC with a section 87B undertaking in which it has admitted to the above alleged conduct. In the undertaking, Diamond Energy will:

• update its price change notification templates and maintain those templates to ensure full compliance with the Code and Australian Consumer Law (ACL);
• implement measures to ensure compliance with the Code and sections 18 and 29 of the ACL;
• implement measures to improve its approval and authorisation processes for price change notifications ahead of the 2025/26 pricing review; and
• establish and implement a compliance program in accordance with the requirements of the undertaking;
• maintain and continue to implement the compliance program for the term of the undertaking.  

On 12 June 2025, Diamond Energy paid three infringement notices with a total penalty of $46,950, issued by the ACCC under section 51ACD(1) of the Competition and Consumer Act 2010.