Cut the cost of staying connected: Broadband savings on offer

• Mozo’s analysis reveals Australians could be overpaying for their Broadband plans by up to 58%
• A proposal from Australia’s wholesale broadband provider, NBN Co, suggests that basic broadband prices could double over the next ten years
• Mozo Expert Choice Awards recognised Flip as the broadband provider of the year. Belong, Mate, MyRepublic and Occom also take home awards, crowned as some of the best broadband providers in Australia for 2022.

New research from Mozo has found that Australians could be overpaying for their broadband connection by up to 58% annually, with significant price differences between the most and least expensive plans across the board. 

The finding comes as Australia’s wholesale broadband provider, NBN Co, lodged a submission with the Australian Competition and Consumer Commission , proposing internet pricing changes, indicating that basic broadband prices could double over the next ten years. 

“As cost of living pressures continues to hit home, taking the time to compare your personal finance products such as your home internet and looking for potential savings can really pay off,” says Tom Godfrey, Mozo spokesperson. 

“We found something as simple as comparing broadband plans online and switching to a more competitive offer could significantly cut your costs.” 

The comparison site’s analysis of 79 broadband providers for its 2022 Mozo Expert Choice Awards found that by switching from the most expensive to the least expensive Standard Plus broadband plan, customers could save as much as $1,194 over a 12 month period. In the same scenario, customers who wanted to take advantage of the new 5G technology could save up to $1,114 on a 5G home broadband plan. 

“When it comes to comparing broadband plans there are a few important variables to consider, such as the download speed, type of contract and the price,” Godfrey says. 

Download speeds are important when choosing a broadband plan for your household. As a general guide, 50mbps is appropriate for a household where one to two people may be watching TV or listening to music. If you have a larger home with numerous users online at the same time, 100mbps could be a better option, allowing multiple individuals to simultaneously stream television or play online games.

The Mozo Expert Choice Awards crunched the numbers to find the most affordable NBN providers in Australia for 2022. They calculate the minimum cost of each plan while taking into account the set-up costs, monthly charges and lowest price modem available from the provider and introductory discounts. 

The big winners in this year’s Mozo Expert Choice Broadband Awards were: 

• Flip takes home the coveted broadband provider of the year award
  Belong took out awards in both the Standard (NBN 25) and Fast (NBN 100) award categories.  
  MyRepublic was recognised with awards, coming out on top in the Super Fast (NBN 250), Ultra Fast (NBN 1000) and Creator (NBN 100/40) categories.
  Mate won awards in both the Creator (NBN 100/40 )  and Super Fast NBN (250mps) categories. 
  Occom received awards in both the Standard (NBN 25) and Standard Plus (NBN 50) categories with their products Boost (NBN 25) and Boost Plus (NBN 50).
  

“While you might not have heard of some of these smaller broadband providers, it really does pay to look past the well-known names and seek out those offering potential savings,” says Godfrey. 

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