Time Warner Cable will increase its Internet retail rates by an average of $3 per month, beginning with the billing cycle dated on or after Aug. 9.
The company said the rate hike is necessary to keep up with the growing demand for more bandwidth.
“Our customers are using Internet more than ever before and with more high-bandwidth applications such as gaming and streaming,” said Joli Plucknette-Farmen, a spokeswoman for the company.
The rate hike will affect customers who pay for Internet service in a bundle with cable or phone service. Those currently receiving a promotional rate will not be affected.
The company’s most popular “Standard” Internet service tier, which provided download speeds of up to 15 megabits per second (Mbps) and upload speeds of up to 1 Mbps, had a retail rate of $51 per month. The new rate is $54.99.
Time Warner declined to disclose other retail rates.
The company advertises promotional Internet rates beginning at $19.99 per month for up to 1 Mbps of download speed and 1 Mbps of upload speed and $74.99 for up to 50 Mbps of download speed and 5 Mbps of upload speed. Those rates expire after 12 months.
Time Warner said it continually invests in its Internet network and infrastructure.
The company said it most recently increasing its “Standard” tier Internet speeds by 50 percent.