Does my Optus contract end when my street switches over to NBN? Do I need to negotiate a new contract?
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Yes and no. Are you on ADSL or HFC Cable? I'll answer for both:
In both cases your street/suburb will "go live " sometime in the next two years (See here for the likely date). You should start getting offers in the mail and Optus should contact you.
1) ADSL. You will have 18 months from this date to sort your move to the NBN.
2) HFC Cable. You will have 3 months from this date to sort your move to the NBN.
In both cases you will get warnings but ultimately Optus will simply shut down any contract and any service if you do nothing. You contract will be void but there's no pentalies to pay etc.
Alternatively you can look around to sign up for the NBN. Any ISP can now connect you to high speed NBN so perhaps check out deals. However it may well be simplest simply to ask Optus to make the transition for you. Note that in all cases you will be entering into a new contract with new terms (I.e. Optus won't just move what you have now onto the NBN for the same price). So check out the plans on offer and talk on LIVECHAT. If you are a long time customer you should be able to migrate over on a month to month plan still (but that's a bit negotiable).