Friday, 15 June 2018

What I learnt about NBN Co this week

It is easy to lose track of what federal government-owned NBN Co is up to these days, so I did a quick search of mainstream media reports and the company website. This is what I found.

In the nine months up to 31 March 2018 NBN Co listed $1,413 million in revenue, up from $665 million for the same period last year. Nevertheless it appears the company is operating at a loss.
NBN Co’s CEO earns est. $3.62 million per annum — approximately six times more than Prime Minister Malcolm Turnbull.

Million-dollar salary packages are paid to another four top executives.

More than 480 of NBN Co’s staff are on $200,000-plus salaries and 120 earn more than $300,000.

NBN Co paid $66 million in bonuses to its staff last financial year.

In February and March 2018 the company’s  three top executives spent almost $40,000 on business-class flights and accommodation during a trip to Spain to attend a conference.

Although NBN plans are advertised with speeds such as 25Mbps or 50Mbps, performance on fixed wireless drops in the evening and the CEO has stated that "We don't have the money to invest in this to take it above 6Mbps” – which means that many customers cannot get a decent image when streaming videos or live entertainment.

NBN Co has fobbed off customers 80,000 times since July last year – nine per cent of all scheduled appointments.

There were at least 42,510 formal complaints made about NBN services from January to December 2017.

More than one third of NBN users wish it had never happened, according to new research by released on 8 June 2018. Only 43 per cent of respondents still on an ADSL or cable Internet connection said they were looking forward to switching to NBN.

The basic NBN service is being redefined and entry-level retail prices for NBN broadband are set to rise.

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