For months now T-Mobile has been bringing significant changes to the U.S. mobile market. The company was the first to introduce the now-standard device subscription pricing model with its “JUMP” program and also has made its unlimited international data offering a point of pride. Most recently T-Mobile announced that it will pay customers’ early termination fees when switching to T-Mobile from one of the other big mobile providers.

T-Mobile’s target throughout all of this has been AT&T, as T-Mobile CEO John Legere has made clear with his unceasing snipes at the company. This has largely allowed Verizon to stand above the fray, keeping its premium prices and large subscriber base solid. But no more.

Verizon today announced that it will be entering into the new mobile price war. The provider is launching “MORE Everything” mobile plans that offer more data at lower prices.

The biggest change coming with the new plan is that the data caps will be raised for its 500MB, 1GB, and 2GB price tiers. The new limits will be 1GB, 2GB, and 3GB. The MORE Everything plans also come with 25GB of cloud storage for each line on the plan.

Verizon will still be offering its “Edge” program for faster device upgrades. Customers who use Edge on top of a MORE Everything plan will get $10 off their monthly data costs for plans offering up to 8GB and $20 off monthly data costs for plans over 10GB.

This new pricing announcement coming from a market leader shows just what real competition can bring to a market. The failed merger between AT&T and T-Mobile probably would have prevented mobile competition on this scale in the U.S., as would the proposed Sprint and T-Mobile merger. This is in contrast to, say, the cable industry, which is set to see even more consolidation in a market where regional monopolies are already the norm.