Virgin Media has confirmed that customers will see prices go up by between £2 and £4 a month this autumn.
Speaking to ISPreview.co.uk, a spokesperson insisted that increasing prices is not a decision that it takes lightly.
However, the representative stressed that the upcoming price hike is lower than last year, while broadband usage on its network has increased by almost 40 per cent during this time.
"At the same time, the impact on us of a 300 per cent increase in business rates on broadband networks has started to take effect, hiking up the costs associated with building and running our network," the spokesperson said.
Virgin Media pointed out that over the last year, it has invested around £1 billion in its network and upgraded many of its customers to faster broadband, as well as introducing a new top speed of 362Mbps.
The company said this "significant investment" is bringing "real benefits to its customers".
Indeed, it noted that under new rules to bring greater transparency to broadband advertising, it was the only major provider to see its advertised speeds increase.
Virgin Media also highlighted the accelerated rollout its latest technology, such as the V6 TV box and Hub 3.0 router, to millions of customers.
"We work hard to keep our prices competitive while continuing to invest in our network and improve the services we offer our customers," the spokesperson said.
Virgin Media added that it is committed to giving customers an "amazing service, with the best connectivity, greater programming and innovative new upgrades".
"We'll be delivering even more of this during the coming year," the provider said.
This comes after Virgin Media reported that its broadband customer base continued to grow between April and June 2018.
According to its latest trading statement, the company attracted an extra 30,000 broadband subscribers during Q2.
This is comparable to the increase seen in the previous quarter, when the figure rose by 31,200, meaning Virgin Media now has a total of 5,166,500 broadband subscribers.
Dani Warner, broadband expert at uSwitch.com, said: “Price rises do happen, but Virgin Media customers who face paying up to £48 more each year shouldn’t feel too alarmed because their rights are well established.
“Anyone unhappy with these changes has 30 days from when they’re officially notified of the new prices to use their ‘get out of jail free’ card and leave their contract penalty-free. So customers should keep an eye on any communication from Virgin Media over the next few days.
“There is good news for those who do want to leave Virgin: the best deals are generally available to new customers.”