NBN Co is working under a revised statement of expectations that requires the company to be more transparent in the way it operates and makes strategic decisions.
The revised statement of expectations [pdf] is considerably more detailed than previous iterations, and emphasises NBN Co’s commercial objectives, but also a deeper purpose for its existence.
“The enduring purpose of the NBN is to provide fast, reliable and affordable connectivity to enable
Australia to seize the economic opportunities before it and service the best interests of consumers,” the statement reads.
“NBN Co will offer products and pricing which promote the take up and utilisation of the NBN, and support retail service providers to meet consumer needs at affordable prices.”
NBN pricing has been a hot topic over the past several years, culminating in a drawn-out review of price and non-price terms that, if agreed to, could result in a new pricing model being introduced in the first half of next year.
Against a backdrop of NBN Co struggling to demonstrate value to some cohorts of potential users, the new statement of expectations asks the company to put more time and focus into this critical area of its operations.
“The government will keep NBN Co in public hands for the foreseeable future to provide the company with the certainty needed to continue delivering improvements to the network while keeping prices affordable,” it added.
“All Australians need and deserve access to high-speed, reliable, and affordable internet,” communications minister Michelle Rowland said in a statement.
Minister for finance Katy Gallagher added that the new statement “makes it clear the Australian government expects NBN Co to be highly efficient to support affordability for consumers, and also promote competition and innovation.”
NBN Co also releaed a new corporate plan [pdf] after the revised statement of expectations were published.