NBN providers have reduced their prices, with savings of $120 per year being a big win for consumers, following last month’s national broadband network wholesale price cuts.

Most major NBN providers have announced cheaper prices for plans with speeds of 50 Mbps or more and some smaller players are planning to introduce a 50 Mbps product in coming months.

Telstra has introduced 50 Mbps into its $80 plus home broadband bundles for new and re-contracting customers since the NBN cuts. Previously, this would have cost customers $20 a month extra to upgrade the speed.

There are concerns among some industry members that low-tier plans at 12 Mbps catering to households on a budget could be completely removed.

NBN Co flagged plans to make this a voice-only product in its pricing review.  NBN chief executive Bill Morrow has previously said the 12 Mbps product was originally designed to be voice only.

New bundles are still being negotiated between NBN Co and providers, with the current wholesale discount option introduced until these are finalised.