Yes. It's like a contract. (Just double checked the date and it's >30 day notice)
In this case, Max is letting them know that on Max's end their changing the terms of the contract. The new terms are Y.
Customer can opt to not continue the contract before the changes go into effect.

Here in the US, on a cable internet provider we essentially do the same thing every 2 years when we come off promotion pricing. I call, tell them what I'm willing to pay and they decide if they're willing to provide service at that rate.
They decide if they are willing to accept my terms or offer different. If they offer different, I call up the other cable provider and take their 6 month promo and tell the first one to come get their shit.