South West broadband provider Jurassic Fibre has said he cost of living crisis has highlighted a “huge regional divide”, with firms and residents in the region “particularly hit”.
The Exeter-based internet service company, which has connected 75,000 premises across Devon, Somerset and Dorset, has pledged to halve the price of its ultrafast broadband packages to help communities facing “significant hikes” in utility bills.
The move comes after energy regulator Ofgem hiked the energy price cap by 54% to a record £1,971 for a typical home in April, in response to a huge rise in wholesale prices.
Jurassic Fibre also cited rising prices for domestic goods and fuel as well as the economic impact of Russia’s invasion of Ukraine had informed its new offer.
Sarah Howells, chief customer officer at Jurassic Fibre, said that standing order charges for residents in the South West had risen “by double that of other areas in the UK.”
Ms Howells said: “Data from the Office for National Statistics shows that over half a million people of working age in the South West are currently living in poverty, and our region has some of the most deprived areas in the UK. It is vital that we all do what we can to support those in need and address this regional disparity.”
Jurassic Fibre has been backed by a £250m investment from Fern Trading - advised by Octopus Investments - to build a full fibre network in the South West.
The firm has said that once completed, it aims to cover over 350,000 previously hard-to-reach premises, representing a potential saving to the taxpayer of circa £10m.
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