I received an email about Optus mislead us in regards to speed and offered $90 compensation if we moved to a lower plan. What the hell Optus? You admitted your guilt so why do we have to move to a lower plan to receive this compensation? This should be paid regardless what plan we are on. Optus can you please explain your actions?
Assuming this is to do with your NBN right? I've heard they aren't doing this in the most ethical way but what SHOULD happen is they proactively contact you (which they have), advise of how they mislead you (which they have), advise of the compensation you're entitled to (which they have) and provide you with your options moving forward (which they HAVEN'T).
Your options should be that you can stay on your current plan acknowledging you can't actually achieve the speeds you'd be paying for and therefor accepting the fact you're paying for more then you'll get or move to a new plan that provides the speeds you can actually achieve. I'm not too sure but I believe a third option of cancelling everything without penalty should also be made available.
No matter the option you choose though, Optus have to pay you the compensation as far as I'm aware.
Hmmm I just can't see how that last one is right. Either way though, I figure you have 3 choices.
1. Beat them at their own game and take option 3 and as soon as the credit is applied, re-add your speed pack (note that while you can't get your full speed you're 1Mbps away so you're pretty much getting it)
2. Call Optus and argue your case
3. Go to the TIO as the ACCC says here although it's always recommended for you to contact Optus first - https://www.tio.com.au/publications/news/accc-undertakings-relating-to-nbn-speeds
Ok I see. FYI Optus is being made to do this because of statutory law (Which the ACCC have enforced.)
There's no law here against selling a bad product. Only you being mislead and paying more than you would of had you known.
So now you know and you're being asked to make a choice (The choice you should have been given back at the beginning). If your choice now is to keep paying over the odds for a bad product then its reasonable to assume that would have been your choice back then to. In which case you can't claim compensation.
As @SamSam says, the 50Mbps tier would seem to match well anyway, so I'd drop your tier, grab the compensation and save $20 a month on the ongoing costs. If you really want to you can always go up to 100Mbps again later on (although you'll be warned upfront you can only get 50Mbps)