Verizon Customers Get Modest Break in Phone Rates

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DOVER, Del. - Most Verizon customers in Delaware soon will see lower rates for some basic local telephone services. The new rates are effective July 1 and will appear on customers' bills later this month.

The Delaware Public Service Commission (PSC) has approved rate reductions for residential and business Touch-Tone service and carrier access charges totaling approximately $430,000 per year.

The 2001 rate reductions include:

  • Reduction of four cents on monthly rates for residence Touch-Tone service from 42 cents to 38 cents.
  • Elimination of Touch-Tone charges on business and business trunk lines.
  • Reduction of access charges paid by long-distance companies to connect to the Verizon Delaware network.

''Delaware consumers and businesses continue to benefit from regulatory reform legislation,'' said Joshua W. Martin III, president of Verizon Delaware. ''Incentive regulation has resulted in affordable phone rates for all Delawareans. It's a credit to the vision of the General Assembly, which recognized the competitive revolution in our industry and the need for a market-based regulatory framework for the 21st century.''

Verizon Delaware is making the reductions under the Telecommunications Technology Investment Act (TTIA). There have been no basic rate increases in the six years since the company elected to be governed under the TTIA. In fact, these rates have decreased for four straight years, resulting in an overall annual net rate reduction to customers of $3.3 million.

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Verizon Communications (NYSE:VZ) is one of the world's leading providers of communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States, with 112 million access line equivalents and 27 million wireless customers. Verizon is also the largest directory publisher in the world. A Fortune 10 company with approximately 260,000 employees and more than $65 billion in annual revenues, Verizon's global presence extends to 40 countries in the Americas, Europe, Asia and the Pacific. For more information on Verizon, visit www.verizon.com

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