GTE Rates Cut 2%
The California Public Utilities Commission ordered General Telephone on Wednesday to trim its rates by 2%--a move that will cut consumers’ monthly bills by an average of 90 cents a month--to reflect the company’s lower expenses.
Going into effect Sept. 1, the cost-of-living reduction will reduce the company’s revenue by $49.4 million a year.
For consumers, the reduction is a preview of what is expected to be a much larger cut that would take effect Jan. 1, when the commission’s three-year review is completed.
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