The National Broadband Network is cutting wholesale prices and moving to boost internet speeds in a bid to address ongoing concerns about the cost and quality of the network.

Facing pressure from retailers and customers, NBN Co has announced the shake-up following a review of its wholesale pricing. The government-owned company says the changes should deliver more affordable access to high-speed broadband and more certainty for internet service providers.

NBN Co has revamped its offerings in a bit to improve speeds and lower costs. Credit:Peter Braig

From May 2020, there will be three new high-speed offerings, including a $58-a-month package with 100 megabits per second download speeds and 20Mbps upload speeds. The 100/20 bundle is $7 less than an existing 100/40 bundle. NBN Co will offer a promotional $58 rate for the 100/40 package until the new offering becomes available.

A new 250/25 bundle will also be available for a discounted rate of $68 and a 1000/50 bundle will cost retailers $80. These packages are significantly cheaper than existing 250/100 and 1000/400 options.