N.J. Board of Public Utilities extended Verizon’s price regulatio...
N.J. Board of Public Utilities extended Verizon’s price regulation plan for additional year, to Dec. 31, 2001, after allowing carrier to withdraw controversial proposed replacement plan that drew strident opposition from customer and competitor interests. Board directed Verizon to…
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file new proposal by Feb. 15 for regulation after 2001, which must adhere to set of requirements board said are intended to address deficiencies that sparked much of opposition to this year’s Verizon proposal. New plan, board said, must include basic service option without additional features. Discredited Verizon plan had proposed doubling basic rate by bundling group of calling features with dial tone. Other requirements Verizon must address in new regulation plan include state universal service support, expanded Lifeline eligibility, service discounts for schools and libraries, service quality standards for wholesale and retail services, cost support for any proposed rate changes, analysis of company’s financial condition, and quantification of merger-related savings.