Truespeed, the fast-growing Bath-based broadband provider, is to freeze prices across all its packages for the next 12 months in a move it claims is in stark contrast to many of its rivals.
The firm, which secured £100m from Aviva Investors in January – its largest funding since its launch eight years ago – said it wanted to give its customers respite from rapidly rising household costs when it came to connectivity.
Truespeed claims an “industry-wide trend of broadband price hikes” was dramatically adding to the spiralling cost of living.
It said many other providers were imposing price rises of more than 9%, but that it was remaining steadfast in its “people-first approach” with the price freeze across its entire range of broadband packages.
The standstill will remain in place until 5 May next year. This would, it said, give its customers peace of mind that their ultrafast broadband would remain stable and secure in both service and price.
“As households attempt to offset escalating fuel and living costs with continued hybrid working and utilising at-home online entertainment platforms, broadband is more vital than ever,” it added.
“Fast, reliable connectivity is essential and Truespeed is stepping up to ensure this vital utility remains accessible to residents and businesses across the South West.”
The firm launched in 2014 as a community interest company (CIC) with a mission to provide ultrafast, ultra-reliable broadband across the South West.
This, it said, would help level-up the region’s digital capabilities while acting as a catalyst for businesses and communities struggling with substandard broadband.
Meanwhile, one of its founding principles – free broadband for life for schools and community hubs located alongside its network – has benefited more than 100 such outlets.
In recent years it has also become one of Bath’s fastest-growing companies, doubling the size of its network by taking it to smaller towns such as Glastonbury, Shepton Mallet and Street as well as hard-to-reach rural areas which tend not to be covered by its rivals.
It recently announced further expansion of its ultrafast infrastructure into North Somerset, including Portishead and Clevedon.
CEO James Lowther said: “At Truespeed, we aim to give our customers a truly better service.
“With the cost of sub-standard broadband from the big providers sky rocketing, we want to give our customers peace of mind for both the quality of their broadband connection and the price they will pay each month.
“This is why Truespeed is freezing its prices for the next 12 months. We’re glad to be doing our part to help people in increasingly difficult circumstances and are working hard to ensure more people than ever before have access to ultrafast connectivity.”
