Virgin Media plans to bump up broadband prices by almost seven per cent from early next year with its download speeds set to increase to a top speed of 152Mbps as a result.
The company, now owned by US cable giant Liberty Global, is increasing prices by an average of 6.7 per cent from February 2014, according to the BBC, with head honcho Tom Mockridge using its high speeds as justification.
“We are boosting speeds again and ensuring our customers can get even more value from their Virgin Media subscription. Our top speed will be twice as fast as BT and all the others reliant on their old copper telephony infrastructure as we extend our lead as Britain’s ultrafast broadband provider," Mockridge said in a company press release.
Virgin Media currently offers customers speeds of 120Mbps and the lift to 152Mbps is a significant one as it lets consumers benefit from seamless simultaneous streaming with some 12.5 million homes set to enjoy the new speed.
“As people connect more things simultaneously to the Internet more often, they need powerful broadband with the bandwidth to deliver a great experience for everyone in the home. That connection is what we deliver with our unrivalled network,” Mockridge added.
It’s likely that this will be the last time that customers are subjected to a price hike in the middle of a contract with Dominic Baliszewski, from broadbandchoices.co.uk, explaining that new rules will give customers a lot more flexibility.
"New rules from Ofcom governing mid-contract price rises will come into effect from early 2014, forcing providers to give customers the opportunity to cancel their contract without financial penalty if they increase prices during their contract term,” Baliszewski told the BBC.
Ofcom figures show that the average residential UK broadband speed is 14.7Mbps, as of May 2013, and that some 19 per cent of UK broadband connections were classed as superfast – up from just 14 per cent in November 2012.
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