Bermuda’s largest telecoms firm, One Communications, is putting up the prices for its internet and TV services.

Customers have started receiving letters giving them notice of an “important billing update” which will come into effect from February 1, next year.

The letter says: “Our decision to revise our prices comes after careful consideration and is influenced by several factors, including the rising costs of network maintenance and operation, content acquisition and the continued enhancement of our service quality.”

Internet costs will go up by $10 across the board so people who pay $110 for fibrewire 150Mbps will pay $120 and those who pay $240 for fibrewire 750Mbps will soon pay $250.

Internet and TV bundles will increase by $15 across the board, so the standard package will increase from $175 to $190 and the Ultimate package will rise from $365 to $380.

TV packages will increase by $5 meaning a fibrewire TV deluxe plan will cost $57.50 and a fibrewire TV most plan will rise from $80.50 to $85.50.

A One Communications spokesman said: “Our commitment to providing top-tier services in Bermuda necessitates continual investment in advanced technologies, a fact that drives our decision to revise our pricing structure.

“Overall costs to our business drive the requirement to increase rates, including the rising cost of popular TV content, as an example.

“Moreover, to meet the increasing demand for higher internet speeds and reliability, prompted by the growing number of devices in homes, we are investing heavily in infrastructure enhancements.

“This includes substantial projects like subsea cable upgrades and the introduction of our 5G mobile network, all aimed at keeping Bermuda at the forefront of global technological advancements.

We understand the importance of value for our customers. Over the years, we've consistently upgraded internet speeds and increased data allowances in our smartphone plans.

“Our loyalty programme, covering both mobility and home internet/TV services, offers substantial discounts on a variety of devices such as smartphones, laptops, tablets, smartwatches, and gaming consoles, enhancing our customers' experience.

“We ensure transparent communication with our customers regarding these changes. Those affected receive a formal notification with 30-day notice, including detailed information about the adjustments.”

In a recent interview with The Royal Gazette, One Communication’s CEO Niall Sheehy said the company was investing in the region of $20 million in upgrades in areas such as 5G and its underwater cable linking the island to the US.

At the time, he said: “So the investment that we make in Bermuda is not insubstantial by any means. We’re committed to Bermuda.”

In the interview, Mr Sheehy also said that the cost of doing business in Bermuda was the main driver of high internet prices.

“The cost to do business is very high. Our labour costs are high. All of the inputs are among the highest in the world as well,” he said.

“So obviously when your costs are high, what you need to charge actually goes up as well. We've also seen the inflation that’s impacting all the businesses in Bermuda.

“The cost of equipment is going up, the cost of things like insurance is going up, too, so we are impacted.”

One Communication’s price rise joins other rising costs.

It comes after residents faced a 20 per cent increase in Belco bills this quarter, although as the fuel adjustment rate was modified down there should be some respite in the next quarter, starting in January.

According to the July Consumer Price Index, the latest figures available, food inflation was at 5.8 per cent, year-on-year, which was trending down from a high of 10 per cent.

• This story has been updated to include a comment from One Communications.