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Openreach has opted to voluntarily reduce its wholesale broadband prices, a move that represents the first step towards a significant price cut for consumers from April next year.

Earlier this year, Ofcom called for the wholesale cost of 40Mbps superfast broadband to the likes of TalkTalk, Vodafone and Sky to come down from £88 a year to £52.77 a year.

The watchdog believes reducing wholesale costs would promote competition in the superfast broadband market, enabling companies to create their own full-fibre ultrafast networks to compete with Openreach.

BT's infrastructure division has chosen to reduce its pricing in line with Ofcom's recommendations from the start of next month, which it says is "a gesture of goodwill".

"We believe this gives our customers certainty and avoids the need for a lengthy legal process," Openreach said.

This means that consumers could start to see cuts of around £23 a year on fibre products offering speeds of up to 40Mbps.

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