NBN trims peak cost forecast

The peak cost of the national broadband network has been reduced to between $47 billion and $51 billion in the company's latest corporate plan.

The company building the national broadband network says it is confident the rollout will be completed by 2020 and for about $49 billion after trimming its cost forecasts.

NBN Co has reduced its peak funding expectations from a range of $46 billion to $56 billion in 2016 to between $47 billion and $51 billion in its latest corporate plan released on Thursday.

"We remain confident we can deliver on our promise to have the country connected in 2020 within $49 billion," chief executive Bill Morrow said in a statement on Thursday.

NBN Co said it also had brought forward the rollout for 200,000 premises, making them ready for service earlier in the 2019 full-year.

"This now means we expect to be 97 per cent completed by the end of June 2019," Mr Morrow said.

In the 2016/17 financial year, 2.8 million premises were connected to the national broadband infrastructure, bringing the total to 5.7 million.

The company currently has 2.4 million homes and businesses using NBN through service provider's like Telstra or Optus and on Thursday reaffirmed it expects to have eight million premises connected by 2020.


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Source: AAP


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