NBN Co financial results for the 2021-22 Financial Year

The Australian Government has today welcomed NBN Co’s 2021-22 Financial Year results, with Minister for Communications, the Hon Michelle Rowland MP, and Minister for Finance, Senator the Hon Katy Gallagher further outlining a pathway forward as part of the Albanese Government’s plan to

Fix the NBN.

 

The financial results show many Australians are now moving to higher speed tiers to support their data needs while working and studying from home.

 

NBN Co will focus on delivering a high quality and resilient network at affordable prices for Australians, the Ministers said, with improving accessibility to the NBN for all Australians a key priority for the Government.

 

The Government remains focussed on ensuring the NBN is available to more Australians who want the benefit of higher broadband speeds.

 

The Albanese Government is committed to improving access by making 1.5 million more homes fibre-ready, taking those premises able to order gigabit services to 90 per cent of premises in the NBN fixed line footprint by late 2025.

 

The Government is also committed to retaining NBN Co in public ownership for the foreseeable future, expanding full-fibre access to more homes and businesses and ensuring NBN delivers for consumers and facilitates productivity.

 

Through the Government’s Better Connectivity for Rural and Regional Australia Plan, $480 million has been provided to NBN Co to upgrade the fixed wireless network, supporting families, businesses, and communities to get connected, helping bridge the digital divide between our cities and regions. 

 

This investment will allow premises in the fixed wireless footprint to access increased download speeds of up to 100 Mbps, with up to 85 per cent able to access 250 Mbps, compared to 50 Mbps previously. Satellite data inclusions have already been boosted, with extended hours of unmetered usage.

 

Quotes attributable to the Minister for Communications, the Hon Michelle Rowland MP

 

“The NBN was announced in 2009 as a key investment in the nation’s future and since then has had a profound impact on Australia’s capacity to connect with the world and with each other

 

“It’s great to see so many Australians benefiting from their connection to the NBN, embracing higher speed services in this increasingly digital society.”

 

“NBN Co is working on options to address the Albanese Government’s election commitment to Fix the NBN and the Government will provide further update in due course.”

 

Quotes attributable to the Minister for Finance, Senator the Hon Katy Gallagher

 

“These strong results demonstrate NBN Co’s capacity to deliver internet to Australian homes and businesses at a time when high quality, reliable broadband is required more than ever, with 76 per cent of customers on 50Mbps speed plans or higher.”

 

“The Albanese Government will support NBN to continue to meet increased demand for high speed connections and will continue to invest in the network to deliver the Government’s broadband policy objectives in line with the Fixing the NBN commitment.”