ISP Truespeed Freezes All UK FTTP Broadband Prices for 1 Year
Bath-based UK ISP Truespeed, which is busy building a 10Gbps capable Fibre-to-the-Premises (FTTP) broadband network across rural parts of Somerset (England), has today announced a 12-month price freeze for all of their residential and business customers to help them cope with rapidly rising living costs.
The operator, which has so far covered 200 communities around Somerset and last year confirmed that they held an “ambitious target to reach 500,000 properties within the next five years” (i.e. by the end of 2026), is currently being funded by £175m from Aviva Investors.
Customers of the service typically pay from £40 per month for a symmetric speed 150Mbps package on an 18-month contract term (currently discounted to £25), which rises to £70 for their top 900Mbps tier (currently discounted to £49). The service also includes a free phone service, installation and a heavily restricted router.
However, unlike many of the market’s largest broadband providers – where price hikes of 9-11% have become quite common, Truespeed has opted to buck that trend and will freeze their prices until 5th May 2023.
James Lowther, CEO of Truespeed, said:
“At Truespeed, we aim to give our customers a truly better service. With the cost of sub-standard broadband from the big providers sky rocketing, we want to give our customers peace of mind for both the quality of their broadband connection and the price they will pay each month. This is why Truespeed is freezing its prices for the next 12 months.
We’re glad to be doing our part to help people in increasingly difficult circumstances, and are working hard to ensure more people than ever before have access to ultrafast connectivity.”
End.
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on X (Twitter), Mastodon, Facebook and Linkedin.
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Stunning and brave
No one can live with 7pc inflation and do this so this must be a bet on a rapid fall inflation in the very new future. There is a view amongst some analysts that this will happen based on some lead indicators but this is still a bet none the less.
For context, you have to remember that the infrastructure layer (FTTP) in the UK right now is an aggressively competitive market, even for rural focused providers like Truespeed. So quite a few of these players are happy to stomach a degree of short to medium term loss in order to grow their customer base via attractive pricing – since that and build are the main focus.
Truespeed aren’t necessarily all that cheap either vs many rivals, so they may have a bit more flexibility to do this.
There is a recession on route but stagflation could be the result.
Wish they would unfreeze their router instead….
Connecting Devon and Somerset is currently engaging with Truespeed in relation to delays in its contracted roll-out of full fibre broadband and the impact as a result of commercial build by other providers in parts of its contracted areas.
Think stinks like bad marketing. Typically ISP’s only increase the prices once a year anyway.