Tired of paying for pricey internet? A new decision could soon give Canadians faster and more affordable options.

On October 25, the Canadian Radio-television and Telecommunications Commission (CRTC) announced that it had set wholesale rates that smaller companies would pay large telephone companies to access their modern fibre networks.

Large companies are expected to provide more information in the next few months so the CRTC can finalize rates.

CRTC’s latest decision sets interim wholesale rates that competitors will pay large telephone companies to access their modern fibre networks

This provides Canadians with new options for Internet, television, home phone and smart home services https://t.co/ZZs7ZWhu5T pic.twitter.com/ZCQNRXL9hp

— CRTCeng (@CRTCeng) October 25, 2024

It's the next step after the CRTC announced in August that it had decided to extend the access that smaller, independent internet providers have to fibre networks owned by large telecommunications companies like Bell and Telus. Companies are required to provide competitors access by February 13, 2025.

For Canadians, this would mean high-speed internet access for a lot cheaper.

"Today's decision will provide Canadians with new options for internet, television, home phone, and smart home services," stated Vicky Eatrides, chairperson and chief executive officer at CRTC.

The regulator's efforts to increase internet competition have already seen success on a smaller scale.

To tackle the dwindling competition in Ontario and Quebec, the CRTC granted smaller companies access to fibre networks in November 2023. The decision has since helped boost competition in both provinces, providing internet users more options.

"We are already seeing competitors using fibre access to bring new offers in Ontario and Quebec, and we look forward to this broader access benefiting even more Canadians," said Eatrides.

With files from Isabelle Docto