A significant number of individuals who recently subscribed to new broadband services in 2023 are expressing regret over their decisions, citing unexpected mid-contract price hikes as the main cause. A survey conducted by Hyperoptic, a leading full-fibre broadband provider, revealed that approximately two-thirds of these buyers would have opted for a different provider had they known the extent of these unexpected increases.
Since the disclosure of the exact amount of the April price increase by broadband providers, over one million households have signed new broadband contracts. However, a concerning 75% of these buyers were uninformed about the additional costs they would incur. A significant 24% were completely unaware of any upcoming price hikes, while 50% knew about the increase but lacked details regarding the extent. Only 26% had full knowledge of the impending price hike.
Price significantly influences the choice of broadband provider for over 80% of buyers, making the revelation of unexpected mid-contract price hikes a cause of concern and frustration. A staggering 90% of respondents in Hyperoptic’s survey advocated for a ban on mid-contract price rises.
Broadband providers like BT, EE, Plusnet, TalkTalk, and Vodafone are imposing price hikes by the rate of inflation plus an additional 3.9% in the middle of contracts, without offering customers an option to exit the contract without financial penalties.
Lutfu Kitapci, Chief Customer Officer at Hyperoptic, expressed the unfairness and concern surrounding these mid-contract price hikes. He emphasized that consumers are now trapped in long contracts, regretting their decisions, and facing a difficult choice of either enduring the price hike or paying hefty exit fees. Kitapci stressed that this practice is not fair and that Hyperoptic has always refrained from hiking prices mid-contract. The company is actively campaigning to change this practice, advocating for the freedom of customers to switch providers if they are subjected to such increases mid-contract.
Hyperoptic, with over 250,000 customers and more than one million homes covered, has earned a prominent position in the full-fibre broadband market. Recently named the Best Broadband Provider in the Uswitch 2023 Telecoms Awards, Hyperoptic is committed to reaching 500,000 customers and two million homes passed while upholding market-leading penetration and providing an exceptional customer experience as the company expands.
