NBN Co plans to quintuple the speed of its most popular broadband plan for 9 million Australians at no additional cost.

The upgrade is a response to rising demands for high-definition streaming and the increase in remote work.

Enhanced speeds will be accessible to those with fibre-to-the-premise or hybrid fibre coaxial connections, with possible extension to other technologies.

This strategy aims to resolve pricing conflicts between NBN Co and retail service providers, amidst surging data consumption.

The government supports the move, anticipating substantial benefits for both businesses and households.

An expedited NBN could contribute an estimated $400 billion to Australia's economy by 2030.

Despite the planned improvements, NBN Co faces competition, especially in regional areas where alternatives may offer better cost or reliability.

NBN Co is actively seeking industry feedback to potentially implement these upgrades sooner than originally intended.