2015

Apr 14, 2015 Return to Headlines

QNet fibre optic network keeps data, savings and choice flowing

by GS GS |

COQUITLAM, BC, April 14, 2015 – The QNet fibre optic cable network is proving to be an enduring success story for Coquitlam, as it continues to achieve cost savings while  enabling a greater choice in high-speed internet services for residents and businesses.

The City-owned utility has saved Coquitlam $3.6 million in telecommunications fees since it was incorporated in 2008. QNet has also generated positive cash flow since 2013 by leasing unused capacity in Coquitlam’s extensive fibre-optic network to businesses, governments, and telecom service providers. 

The 45 Coquitlam businesses and residential buildings that have connected to QNet to date have access to some of the fastest and most competitively priced high-speed internet, phone and TV services in the country.

“To some degree, QNet reflects an entrepreneurial spirit – a spirit of thinking outside the box,” said Mayor Richard Stewart. “It’s about looking not just at providing the services that are expected of us, but looking beyond that to the kinds of services that will help our residents and businesses succeed and give the people of Coquitlam some very real advantages.”

QNet’s 2014 Annual Report, presented to City Council on Apr. 13, included the following highlights:

  • QNet saves Coquitlam an average of $357,000 per year in operating costs.
  • Five new buildings connected to QNet in 2014, for a total of 45. 
  • QNet made $434,060 in revenue in 2014, up 16 per cent from 2013. The utility also produced a cash flow surplus of $94,341 – $9,947 higher than forecast. 
  • QNet expects to repay the City’s $4.95 million initial investment, plus about $1.7 million in interest charges, by 2028.  Close to $11 million in accumulated profit is projected by 2037.
  • A new consumer-focused website was launched in 2014.

Competitive, fast and reliable high-speed internet access is another key aspect of QNet’s success. Eight telecom service providers compete to provide services to the growing number of QNet-connected businesses and residential buildings.

For customers, the network’s gigabit-plus capacity means faster downloads and smoother video streaming, which opens the door for telecommuting, HD video conferencing and security monitoring, virtual classrooms, telemedicine and other high bandwidth activities. QNet is also seeing growing interest from telecoms, governments and businesses in leasing fibre from Coquitlam.

“QNet was initially started to take advantage of unused capacity in our fibre optic network – in fact, Coquitlam was the first municipality in Canada to do so,” said Peter Steblin, Coquitlam City Manager and QNet’s board Chair. “Today, QNet is providing a springboard for economic growth, educational opportunities and lifestyle enhancements, while providing our community with something that is unique in Canada – competitively-priced high quality telecom services.”

QNet predicts continued steady growth in 2015, driven by expanded network support for wireless as well as increased marketing efforts by some of QNet’s service providers. Work is also continuing on connecting the network to the Vancouver Internet Exchange and expanding QNet’s data centre co-location capacity.

About QNet

The Coquitlam Optical Network Corporation (QNet) provides businesses, schools and residential highrises with access to Canada’s most competitive broadband services through the City’s state-of-the-art fibre optic network. 

QNet leases unused capacity in the City’s carrier-grade fibre optic network to businesses, governments, and telecommunications companies (telecoms) that offer high-speed internet, phone, TV/video and cellular services to local customers at some of the best rates in the country. QNet also leases fibre directly to governments and enterprise businesses.

Incorporated in 2008, QNet is wholly owned by the City of Coquitlam and governed by a board of directors.

For more information about QNet, visit www.qnetbc.net.

-30- 


For more information, contact:

Rick Adams
General Manager
Coquitlam Optical Network Corporation (QNet)
604 927 3601
radams@qnetbc.net

Scott Jamieson
Director of Operations
Coquitlam Optical Network Corporation (QNet)
604-927-3626
Scott.jamieson@qnetbc.net