Five diruthenium(II) complexes [Cl(L)Ru(μ-tppz)Ru(L)Cl] (1–5) containing differently substituted β-diketonato derivatives (1: L = 2,4-pentanedionato; 2: L = 3,5-heptanedionato; 3: L = 2,2,6,6-tetramethyl-3,5-heptanedionato; 4: L = 3-methyl-2,4-pentanedionato; 5: L = 3-ethyl-2,4-pentanedionato) as ancillary ligands (L) were synthesized and studied by spectroelectrochemistry (UV-Vis-NIR, electron paramagnetic resonance (EPR)). X-ray structural characterisation revealed anti (1, 2, 5) or syn (3) configuration as well as non-planarity of the bis-tridentate tppz bridge and strong dπ(RuII) → π*(pyrazine, tppz) back-bonding. The widely separated one-electron oxidation steps, RuIIRuII/RuIIRuIII and RuIIRuIII/RuIIIRuIII, result in large comproportionation constants (Kc) of ≥1010 for the mixed-valent intermediates. The syn-configurated 3n exhibits a particularly high Kc of 1012 for n = 1+, accompanied by density functional theory (DFT)-calculated minimum Ru–N bond lengths for this RuIIRuIII intermediate. The electrogenerated mixed-valent states 1+–5+ exhibit anisotropic EPR spectra at 110 K with average values <g> of 2.304–2.234 and g anisotropies Δg = g1–g3 of 0.82–0.99. Metal-to-metal charge transfer (MMCT) absorptions occur for 1+–5+ in the NIR region at 1660 nm–1750 nm (ε ≈ 2700 dm3 mol−1 cm−1, Δν1/2 ≈ 1800 cm−1). DFT calculations of 1+ and 3+ yield comparable Mulliken spin densities of about 0.60 for the metal ions, corresponding to valence-delocalised situations (Ru2.5)2. Rather large spin densities of about −0.4 were calculated for the tppz bridges in 1+ and 3+. The calculated electronic interaction values (VAB) for 1+–5+ are about 3000 cm−1, comparable to that for the Creutz–Taube ion at 3185 cm−1. The DFT calculations predict that the RuIIIRuIII forms in 12+–52+ prefer a triplet (S = 1) ground state with ΔE (S = 0 − S = 1) ∼5000 cm−1. One-electron reduction takes place at the tppz bridge which results in species [Cl(L)RuII(μ-tppz˙−)RuII(L)Cl]− (1˙−–3˙−, 5˙−) which exhibit free radical-type EPR signals and NIR transitions typical of the tppz radical anion. The system 4n is distinguished by lability of the Ru–Cl bonds.