Bay Networks Inc. said it will cut the list price of its LANcity cable TV computer modems by 17% to help boost growth of the high-speed Internet access technology. The third-largest maker of computer networking equipment said the list price of the LANcity Personal cable modem will drop to $495 from $595 on Jan. 1. Prices for large orders will fall as low as $395. Cable modems allow computer users to access the Internet through their cable TV systems at speeds hundreds of times faster than conventional phone lines. Santa Clara-based Bay Networks also said it added new features to the modems, including encryption software designed to improve privacy and allow for electronic commerce. Bay Networks stock climbed 62.5 cents to close at $27.375 on the NYSE.