Verizon Communications is increasing the speed of its FiOS fibre-optic service to 50 megabits per second and uploads at 20 megabits per second, up from 30 mbps downstream and 15 mbps upstream.

The top of the range FiOS Internet service costs $139.95 a per month. Slower plans are being upgraded as well. The move comes at a time when cable companies are preparing a big boost to their Internet services.