TelstraClear may have just undercut everyone with it's new mobile-to-mobile calling rates at only 19c a minute.

The announcement comes on the back of yesterday's decision by the Commerce Commission to lower mobile termination rates - the prices mobile providers charge one another for carrying another network's call or text - to under 4c.

"We are providing the benefits of the new pricing issued by the Commerce Commission yesterday, even before we receive the benefit of lower costs ourselves," said TelstraClear chief exec Dr Allan Freeth in a statement today. He believes the rates the company is offering are the best in the market.

Freeth sees yesterday's Commerce Commission decision as exactly the sort of regulation that is needed for the government's UFB plan.

TelstraClear has launched an expensive campaign to protest "significant flaws" in the Telecommunications (TSO, Broadband and Other Matters) Amendment Bill, which it sees as paving the way for a "decade of unregulated, high-priced broadband services", according to the company's Facebook page for the issue.

Update:  For clarification: the pricing cut applies to TelstraClear's consumer mobile plan only. Media relations manager Gary Bowering said the company's business plan pricing is under review and changes may be announced over the next week.