Telstra plans to cost more despite $934 million profit

Telstra plans price increase 2023
Edited version of a photo by Melissa Walker Horn on Unsplash
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We’re all feeling the effects of the cost of living crunch right now, as prices and interest rates continually climb higher. Now, many of us are about to feel the pinch with our phone and data bills, with a price increase coming to Telstra plans.

As recently announced by the telco, post-paid mobile and data plans will cost more starting soon. From 4 July, you’ll pay between $3 to $6 more each month on impacted plans. Some plans will get more data as a result, while other plans’ allocations remain the same.

Telstra points to the increased Consumer Price Index (CPI) as the reason behind the price increase. This comes despite the company posting a $934 million profit by the midpoint of the 2022/23 financial year.

Telstra plans price increase details

Last year, Telstra announced it would review its mobile plan pricing structure, with potential changes to come in line with the CPI. Between March 2022 and March 2023, the CPI increased by 7 per cent, with inflation resulting in prices increasing across many categories, including food, transport, and health. In a blog post, Brad Whitcomb, Telstra’s Group Executive, Consumer and Small Business, explained the reasoning behind the higher costs.

“Increasing our prices means we can continue investing in the things that matter for our customers,” Whitcomb said. “Things like delivering around 1 million square kilometres more mobile coverage compared to our closest competitor and 24/7 network monitoring to help protect against scams and other malicious activity.”

For those of you on post-paid Telstra plans, read on for the adjusted prices.

Mobile plan changes

PlanOld monthly priceNew monthly price (4/7/2023)Included data
Basic$58$6250GB (was 40GB)
Bundle$47$5025GB (was 15GB)

Data plan changes

PlanOld monthly priceNew monthly price (4/7/2023)Included data
Mobile Broadband S$25$25 (no change)30GB
Mobile Broadband M$55$5875GB
Mobile Broadband L$85$90400GB
Mobile Broadband Data Bundle$10$10 (no change)10GB

Some of you will soon be paying $72 more each year on your phone bill, which all adds up when everything is more expensive. Telstra does offer some support if you need help covering costs. Concession discount recipients won’t pay more for the Starter plan, and there are options for those experiencing financial hardship.

Still, it stings to see a large company increase prices after recording substantial profits. To see where you can get the best deal, check out the cheapest SIM plans available in Australia.

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