Home Business News Broadband price hikes set to hit consumers from 1st April

Broadband price hikes set to hit consumers from 1st April

28th Mar 24 11:20 am

It may be happening on April Fool’s day, but it’s no joke that millions of Brits are set to pay as much as 8.8% more due to in-contract price hikes.

While broadband providers are hiking prices to combat increased inflation rates and rising business costs, recent research from full fibre broadband provider G.Network reveals London-based business and consumers are feeling trapped in a cycle of slow internet and poor service.

Even without the burden of in-contract price hikes, a third of Londoners (33%) are actively looking to replace their provider at the next opportunity, driven primarily by high costs (36%). Meanwhile, price is not translating into speed, with those in the capital typically losing 42 hours a year waiting for sluggish internet.

Kevin Murphy, CEO at G.Network said, “It’s unfair to see consumers penalised by unfair in-contract price rises for a service that does not meet their  needs. When you sign up for a contract you should know exactly what you’ll be paying for the duration and not be lumbered with above inflation increases – customers deserve transparency when it comes to cost.”

“G.Network is taking a stand against in-contract price rises and committing to fair, market beating prices for our customers as well as offering 13x faster gigafast full fibre broadband. We’re also helping customers avoid the April broadband price hike by offering up to £150 cashback to cover exit fees charged when cancelling existing contracts to switch to us.”

Meanwhile, many businesses in the capital might be feeling tricked by their broadband provider, as 37% of London business decision makers surveyed by G.Network say poor quality internet has a significant impact on their business’s productivity.

Those affected are most likely to say poor connectivity is regularly having a negative impact on businesses in delivering customer service (34%), accessing documents (33%), conducting research (33%) or even when making financial transactions (30%).

Price is a key obstacle for businesses looking to shore up their connection, averaging £336 per month for a symmetrical 1Gbps business connection and running as high as £610 per month. The current lowest price in the market for this speed is from £159 per month, offered by G.Network.

Another factor that restricts businesses from accessing good connectivity is the need for wayleave agreements to be negotiated – where the landlord, tenant and telecoms provider must sign a legal document allowing the provider to install the necessary equipment within an office building to deliver digital infrastructure. Failure to secure this agreement can make it difficult for fibre cabling to reach offices and places of business.

Murphy added, “In the modern economy, fast, reliable business broadband is essential to maintain growth and avoid lost productivity. But businesses face too many unnecessary obstacles to making this a reality, such as complex wayleave agreements that can make it hard to get a full fibre connection installed.

To help offset these issues, providers need to do more to meet businesses halfway on cost and Service Level Agreements, helping to keep productivity high in the capital.”

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