MEDIA RELEASE - TAXPAYERS COULD BE UP FOR A $450 MILLION BLOWOUT ON THE HFC ROLLOUT - 12 FEBRUARY 2018

According to NBNCo’s half year results, taxpayers are looking at a further $450 million cost blowout on the HFC network.

The half-year results published today show the HFC cost has increased from $2,258 to $2,403 per premises.

This cost increase, if spread across the 3.1 million premises due to receive HFC, would be expected to deliver a $450 million hit to taxpayers.

This comes separately to the $500 million potential revenue hit from the HFC halt announced in late 2017.

Despite this, it remains unclear if consumers and taxpayers are actually getting the complete story.

This is not a multi-technology mix — it’s a multi-technology mess.