NBN ticks off final upgrade after Govt co-investment

internet connectivity

The Australian Government and NBN Co announced on Monday that a combined $3.8 billion had been committed to upgrade the country’s remaining fibre-to-the-node (FTTN) network, benefitting around 622,000 homes and businesses.

The government’s $3 billion “equity investment”, in addition to NBN Co’s $800 million, will see approximately 95 per cent of these homes and businesses, particularly in regional Australia, have the option to upgrade to nbn full fibre via nbn fibre-to-the-premises (FTTP).

The injection of funds joins other commitments made in the last several years to provide access to the fastest possible wholesale speeds for over 10 million residences and businesses or 90 per cent of the nbn fixed line network by the end of this year

“This critical investment will deliver access to better broadband to customers in the remaining part of our Fibre to the Node footprint,” Ellie Sweeney, Chief Executive Officer at NBN Co, said.

“Fast and reliable broadband boosts industry, creates jobs, sparks innovation and strengthens social and economic participation. The nation relies on the nbn® network. It carries more than 80 per cent of the nation’s data and is used by more than 20 million people each day.

“The upgrades will also significantly enhance Australia’s economy. Independent economic modelling by Accenture estimates the economic benefit of upgrading the remaining Fibre to the Node footprint could increase GDP by $10.4 billion, support 10,000 jobs, and create 4,000 businesses over the next decade, leading to more opportunities and growth for communities.

“With the growing number of connected devices in Australian homes and ever-increasing data usage, this upgrade investment will enable us to meet the needs of Australian homes and businesses now and into the future and continue to lift the digital participation and capability of Australia.”

The announcement confirmed work on the upgrades would commence immediately and be completed in phases, and is expected to reach full completion by the end of 2030.

The announcement also comes at the same time as the federal government gears up towards a yet-to-be-called election, as contention grows with the Opposition over intentions with the NBN’s ownership and effectiveness of the old copper network.

“Fast and reliable broadband is essential infrastructure now, in 2025, and in the long term,” Minister for Communications, Michelle Rowland, said.

“That’s why we’re committed to working with NBN Co to finish the job of upgrading the network to give thousands more Australians access to world-class broadband speeds. This investment will see the final fibre to the node premises reap the benefits of faster broadband coming to 622,000 homes and businesses.

“On top of our previous $2.4 billion investment to support NBN Co’s upgrade program and our promise to keep the NBN in public hands, this announcement shows our commitment to delivering a better NBN for Australians.”

“The Albanese Government wants to ensure that every Australian, no matter where they live, has access to the tools and opportunities they need to succeed, including access to the highest quality broadband,” Minister for Finance, Katy Gallagher, said.

“This funding is necessary and unavoidable to address growing reliability and security issues caused by the opposition’s costly decision to build a sub-standard network reliant on rapidly degrading copper. Removing copper from the FTTN network means we are finally building the NBN that was originally planned.

“Rolling out faster and more reliable internet is a key priority of this government, it’s good for our economy, it’s better for business, and helps to deliver stronger, more connected communities.”