NBN Co generated total revenue of $4.6 billion in FY21, an increase of 21% year-on-year. Driving the revenue was the addition of 933,000 residential and business premises that connected to the network in the last 12 months and a total of 8.2 million premises connected to the network at 30 June 2021.
Any time the NBN Co is taking a hammering over the abysmal speeds on the network which it is building at a cost of $57 billion — and still counting — there is a bid to make things look better.
The NBN Co has indulged in various kinds of spin over the years to project itself as an organisation that is doing a brilliant job at rolling out a broadband network in Australia and thus its latest stunt, to keep some of its accounts hidden and reveal them only at the half-year and full-year results stages, should not come as a surprise to anyone.
The Federal Government has awarded a developer of utility-scale energy storage facilities a sum of $6 million to build Australia's first compressed air energy storage project.
NBN Co chief executive Mike Quigley has told a senate committee the national broadband network roll-out would make use of locally-produced product to the "maximum extent," dismissing analysis that Australian firms and Australian staff were being by-passed.
Shadow communications minister Malcolm Turnbull's private members bill seeking to force Government to conduct a cost benefit analysis of the National Broadband Network has been defeated in the lower house by a single vote.
The NBN Company business case will not be made public until next month, despite mounting pressure from the Opposition and the Greens for the release of the document.
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