Telecom Plus extends broadband deal with TalkTalk

Telecom Plus, which offers bundled energy, mobile, broadband and insurance contracts, said it had extended its wholesale supply agreement with internet provider TalkTalk.

The new deal runs for a five-year minimum term, providing “significantly improved” terms, Telecom Plus, which trades as Utility Warehouse, said on Thursday.

“These will ensure UW can maintain a competitive and increasingly profitable broadband proposition over the medium/long term as the shift to full fibre accelerates, further underpinning the strong trend in organic multi-service customer growth currently being achieved.”

“In addition, UW will benefit from TalkTalk's growing network of alt-net fibre relationships, including City Fibre, Community Fibre and Freedom Fibre, giving UW customers access to the widest range of full fibre connectivity in the market.”

Telecom Plus shares surged earlier this month as surging energy prices had provoked a stampede of customers to its plans, which offer customers bigger discounts the more services they sign up for.

Customer numbers have risen as the British energy retail market started to crumble amid the turmoil caused by soaring wholesale prices with more than 30 energy suppliers going bust since January 2021.

Reporting by Frank Prenesti for Sharecast.com