10,000 NBN Fibre Upgrades Per Week! | Dirt Report

A record week for fibre conversions

NBN Co said it upgraded 10,000 customers to fibre in one week, with demand described as being within expectations. The reported figure is a peak rather than the ongoing average. During FY24, NBN Co was achieving approximately 7,000 conversions per week, compared with about 6,000 per week in each of the previous two years.

The rollout has accelerated substantially over the past two years. Earlier conversion numbers were described as sporadic, while the recent programme has established a more consistent rate of upgrades. The 10,000-customer week therefore represents a further increase on the current average.

Fibre access continues to expand

The figures discussed in the update show fibre upgrade connections increasing from roughly 2 million in June 2023 to about 3.5 million in December 2023, 3.6 million in March 2024 and nearly 3.8 million in June 2024. The figures indicate continued growth, although the large increase seen between June and December 2023 was not repeated at the same scale in the following period.

NBN Co has said the fibre rollout is a 10-year infrastructure programme, so the work is expected to continue over many years. Most metropolitan areas now have some fibre access, but availability can vary significantly within the same suburb. Some sections may be eligible while nearby pockets remain scheduled months, or almost a year, later.

What an upgrade involves

Customers who become eligible can request a fibre upgrade through their retail service provider. The upgrade process can include an NBN technician visit to install the required equipment. The update described one installation as being completed quickly, with a technician attending within a couple of days after the request was submitted, although individual experiences may vary.

The fibre upgrade programme is separate from the total number of premises that can connect to the NBN. NBN Co reported approximately 12.44 million premises as ready to connect to the NBN in June 2024, while the fibre upgrade figures refer to customers who have moved to a fibre connection through the upgrade programme.

NBN Co financial and operational figures

NBN Co reported FY24 revenue of $5.5 billion, an increase of 4 per cent on the prior corresponding period. Average revenue per user was reported as $47. Operating expenditure was $1.7 billion, described as approximately 5 per cent lower than the previous year.

Direct network costs decreased by 2 per cent. NBN Co attributed this mainly to lower assurance costs, fewer service incidents and truck rolls, and continuing efficiency in network maintenance and operations. The update also noted that employee reductions contributed to lower costs.

NBN Co remains government owned. The company cited research estimating that a faster, higher-capacity NBN could increase Australian gross domestic product by about $400 billion over the eight years from 2023 to 2030, with potentially greater benefits for regional and rural areas.