ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, July 25, 1996 TAG: 9607250034
SECTION: BUSINESS PAGE: C-10 EDITION: METRO
Bell Atlantic Corp. will refund $10.2 million that it over-charged its Virginia customers four years ago, the Virignia State Corporation Commission ruled this week. The decision will mean refunds for the company's average residential customers of $3.62 and for average business customers $29.24. The amount is based on the proportion of money that customers contributed to the company's overall profits in 1992.
That was when Bell Atlantic was participating in an experimental plan that allowed it to earn a profit of $12 to $14 for every $100 shareholders have invested in the company's Virginia operations. The plan required a refund if auditors found the company had earned more than 14 percent.
A hearing that had been scheduled Tuesday to determine how the money would be refunded was canceled and the SCC ordered the money refunded proportionately, said SCC spokeswoman Andrea Leeman.
Bell Atlantic is Virginia's largest phone company without about 3 million customers.
-GREG EDWARDS
LENGTH: Short : 30 linesby CNB