The National Broadband Network Co (NBN Co) has announced the removal of a contentious clause that would see the company increase prices by CPI rates plus an additional 5 per cent.

 

The clause, first submitted to the Australian Competition and Consumer Commission (ACCC), drew heavy criticism from a number of senior Federal Opposition ministers.

 

NBN Co CEO Mike Quigley told a Senate Estimates hearing that the company would remove the clause.

 

"I can also tell you that the CPI plus 5 per cent has been withdrawn. It's not something we wish to proceed with," NBN Co CEO Mike Quigley said.

 

"I have gone through an exercise now over the last couple of weeks of trying to simplify the special access undertaking, which my view is it was getting just too complex, and as part of that simplification, I have advised the ACCC that we won't want to proceed with the CPI plus 5 per cent. We'll be withdrawing that clause."