Deregulation of the telecommunications industry has been a hotly debated topic for many years. Recently, we have seen an increasing number of countries relaxing regulatory controls in order to promote competition and drive investment. The UK is no exception, and Ofcom’s latest report on wholesale fixed telecoms markets highlights the benefits that consumers can enjoy as a result of this.
Keep reading to find out how the market is changing to help households across the country take advantage of full fibre broadband and game-changing speeds…
- Increased competition leads to lower prices
One of the most significant benefits of deregulation is that it allows more companies to enter the market, which in turn leads to greater competition. When there are more players, consumers are more likely to benefit from lower prices. This is particularly true in the case of full fibre broadband, which is still a relatively new technology. As more companies start to offer full fibre broadband services, consumers can expect to see prices decrease.Ofcom’s report highlights the fact that competition has already had a positive impact on prices in the UK. That’s why BeFibre is committed to offering competitive prices to our customers with a range of packages to suit different budgets. We don’t believe you should have to pay more to get more from your broadband.
- Greater investment leads to better services
Another benefit of deregulation is that it encourages companies to invest more in their services. When there are fewer regulatory controls in place, companies are free to invest in new technologies and services without fear of barriers. This can lead to a cycle where companies invest more in their services, which can lead to more customers and greater profits to put back into their offerings.
Ofcom’s report notes that the UK has seen significant investment in full fibre broadband in recent years, including the government investing £1.2 billion between 2021 and 2025 to subsidise rollout in the hardest-to-reach areas across the country as part of a larger £5 billion funding programme.
This investment – and others – has led to a significant increase in the availability of full fibre broadband, with around 12 million
homes now able to access these services.
- More choice leads to better outcomes for consumers
Finally, deregulation leads to greater choice. When more companies are offering similar services, consumers have more options to choose from. This can lead to better outcomes for consumers, as they are more likely to find a provider that offers the services that meet their internet needs.
Due to new investment and encouragement to upgrade existing infrastructure to deliver full fibre across the UK, there will be more companies offering ultra-fast internet in the future. This level of choice means that consumers can choose a provider that offers the best price, the best service, or the best features, depending on their individual requirements.
As a player in the telecoms space, we are proud to be part of this vibrant market, delivering broadband as it should Be.
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All references to how many times faster our broadband service is, depends on you being able to access ‘superfast’ type broadband services of 70Mbps (or less) and selecting one of our packages at the advertised speed. Speeds shown may be affected based on the placement of the router in your property or the device you are using.