WILMINGTON, Del. - Beginning July 1, most Verizon residential and business customers in Delaware will pay less for their phone service.
The Delaware Public Service Commission has approved annual reductions in consumer touch-tone rates, credits on consumer and business dial-tone lines, and reductions in carrier access charges totaling nearly $1.3 million.
With these reductions, Verizon customers have saved more than $20 million on their local phone bills since 1995 as a result of Delaware's incentive regulation plan.
"Market-based regulation continues to pay dividends for all Delawareans," said Joshua W. Martin III, president of Verizon Delaware. "Verizon is operating in a more cost-effective manner, which allows us to maintain stable basic rates and even reduce some rates for basic services - although almost everything else that consumers and businesses purchase costs more. In addition, we continue to provide customers with excellent service and a state-of-the-art telecommunications network. Going forward, regulatory flexibility is the key to encouraging long-term investment in Delaware's telecommunications infrastructure, which is the backbone of the state's economy."
- One-time credit of $7.74 on each business dial-tone line and an ongoing monthly credit of $1.23 per line
- One-time credit of 39 cents for each residential phone line and a reduction of 8 cents in monthly residential touch-tone rates, from 22 cents to 14 cents
- Reduction of access charges paid by long-distance companies to connect to the Verizon Delaware network
The 2004 Verizon Delaware rate reductions and credits include:
A Dow 30 company, Verizon Communications (NYSE:VZ) is one of the world's leading providers of communications services, with approximately $68 billion in annual revenues. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the largest directory publisher in the world, as measured by directory titles and circulation. Verizon's international presence includes wireline and wireless communications operations and investments, primarily in the Americas and Europe. For more information, visit www.verizon.com.