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NBN Latest: Total Cost Down – But $10 Billion Still To Find

NBN Latest: Total Cost Down – But $10 Billion Still To Find

Nearly two thirds of Australian premises are now either in design, construction or able to order an NBN service, NBN Co has revealed in its 2016 corporate plan, published late last week.

The report says NBN Co remains on track to complete the network build by 2020, connecting some 8 million premises, and with likely total cost of the network build put at peak funding of $49 billion.

Top end of the peak funding range has been reduced by $2 billion, from  $46-56 billion to $46-54 billion.

Said CEO Bill Morrow: “We’ve had a terrific 2016 financial year, exceeding the company’s key targets set by the board.

“During the year we completed the MTM by introducing three new products to market: fibre-to-the-node, the Sky Muster satellite service and HFC.”

However Morrow also revealed that NBN Co is now planning take around 1.2 million premises out of the hybrid-fibre coaxial (HFC) footprint and move them to its fibre-to-the-node network in an effort to reduce costs.

The corporate plan has little to say on the looming issue of funding when the Government’s funding runs out, leaving NBN to find a source of an estimated $10 billion. “We are confident we’ll be able to obtain the necessary funds,” Morrow said.

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