Full Transparency
Our editorial transparency tool uses blockchain technology to permanently log all changes made to official releases after publication.
More of our content is being permanently logged via blockchain technology starting [10.23.2020].
NEW YORK CITY -- NYNEX today announced pricing changes for customers throughout New York State, in the first of a series of benefits that will result from a new way of regulating the corporation's telecommunications operations in the state.
Changes taking effect tomorrow include the automatic provision of free NYNEX Touch-tone Service on residence customer lines and expanded local calling areas from NYNEX pay phones. In addition, basic residence and business rates will be frozen for the next seven years.
Also as part of the new regulatory plan, the company will announce additional price changes in a month, including innovative discount calling plans for residence and business customers.
"These pricing changes are part of a number of aggressive moves you'll see from NYNEX," said NYNEX Chairman and CEO Ivan Seidenberg. "Through competitive pricing and quality service, we'll prove to customers that we're the right choice for telecommunications services.
"By the end of September, we'll have more savings to announce for customers who make regional calls within New York state," Seidenberg added. "We're a new NYNEX; watch us."
With the state regulatory plan going into effect, NYNEX for the next seven years will operate under a new set of rules that encourages investment in New York state and rewards the company for improving efficiency. This represents a dramatic shift from the old framework, which limited the company's revenues and earnings. This earnings cap has been lifted.
"This plan gives NYNEX the flexibility to make agile and customer-focused moves in the increasingly competitive telecommunications marketplace," Seidenberg said.
Touch-tone changes and other pricing details
Residence customers who wish to take advantage of the free Touch-tone service (the current 50-cent monthly charge is being eliminated) will not have to take any action. The company has equipped residence customer lines with Touch-tone. Customers who still wish to use rotary or pulse dial telephones can continue to use the same phones. Touch-tone equipped lines work with rotary phones.
Other pricing changes that go into effect tomorrow include:
-- Calling areas for pay phones will be expanded, so that all local calls made from a pay phone will cost 25 cents for three minutes.
-- The charges NYNEX assesses long distance companies to complete the local portion of long distance calls will be reduced.
-- The monthly charge for Flat Rate residential service for more than 200,000 customers in Nassau and Erie counties will be reduced by almost 10 percent, from $22.27 per month to $20.16. When the plan is fully implemented over the next several years, some one million residential customers will be paying reduced local calling charges through price cuts in Flat Rate service.
NYNEX customers will receive additional information about these and other changes when they receive their monthly bills in September.
NYNEX is a global communications and media company that provides a full range of services in the northeastern United States and high-growth markets around the world, including the United Kingdom, Thailand, Gibraltar, Greece, Indonesia, the Philippines, Poland, Slovakia and the Czech Republic.
The Corporation is a leader in the telecommunications, wireless communications, cable television, directory publishing and entertainment and information services.
