Details have emerged on the price cuts that are to be introduced on BT's Wholesale services.

According to ISPreview.co.uk, the cost of using the company's platform, which offer speeds of up to 24Mb, will be reduced for internet service providers from the start of next year.

Under the plans, monthly bandwidth charges related to the platform will be cut from £79.34 to £40, while rental is to be standardised across all areas at £5.88 per line per month.

It is believed that the changes could offer customers an overall 14 per cent price reduction in the Market 3 area of coverage, while those in Markets 1 and 2 could see their costs cut by 29 per cent.

BT recently announced plans to extend the availability of its next generation copper broadband network so it covers as much as 75 per cent of UK homes and businesses.

Cameron Rejali, managing director of products for BT Wholesale, said the move would bring "essential benefits in the tough economic and competitive environment we face today".