NBN price hikes to be limited to CPI: ACCC

The news: Broadband providers will not be able to hike retail prices beyond the inflation rate in new changes to an access agreement approved by the ACCC. Australia's competition watchdog has rubber stamped NBN Co's latest variation to its Special Access Undertaking (SAU), including measures to protect consumers from price spikes.

The numbers: Last year the ACCC found consumers were paying more for NBN access despite service standards being largely unchanged. It found customers on budget, medium and higher end plans were paying an extra 3.6%, 4.7% and 9% more than the year before. The price changes under the altered SAU will take effect three months from today, excluding the period from 23 December 2023 to 14 January 2024. The SAU, which sets rules for how broadband providers access the NBN, will apply until 2040.

What they said: "We are satisfied that NBN Co’s latest SAU variation proposal promotes the long-term interests of Australians, which is the primary objective of the test that we have to apply," ACCC commissioner Anna Brakey said in a statement.