SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 18, 1995
SOUTHERN NEW ENGLAND TELECOMMUNICATIONS CORPORATION
(Exact name of registrant as specified in its charter)
Connecticut 1-9157 06-1157778
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
227 Church Street, New Haven, Connecticut 06510
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (203) 771-5200
Not Applicable
(Former name or former address, if changed since last report)
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Item 5. Other events.
In response to a comprehensive set of proceedings initiated by the
Connecticut Department of Public Utility Control ("DPUC") to implement
legislation permitting competition in all telecommunications markets,
The Southern New England Telephone Company ("Telephone Company"),
wholly-owned subsidiary of the registrant, yesterday gave notice of intent
to file with the DPUC an application for approval of a plan for alternative
regulation. The filing will also include financial data to enable the DPUC
to conduct a financial review of the Telephone Company. The Telephone Company
stated that it is not seeking to increase the price of local service.
The first part of this review will begin in mid-June with the filing of
financial information along with a description of the fundamental elements of
the alternative regulation plan. The second part of this proceeding, which
will begin in the fall, will include the filing of details of the proposed
plan for alternative regulation, including pricing provisions, cost of service
studies, and reporting proposals.
The news release providing the announcement is filed as an exhibit
hereto and is incorporated herein by reference.
Item 7. Financial Statements, Pro forma Financial
Information and Exhibits.
Exhibit 20. News release issued May 18, 1995.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
SOUTHERN NEW ENGLAND
TELECOMMUNICATIONS CORPORATION
Dated: May 19, 1995 By: /s/Madelyn M. DeMatteo
Madelyn M. DeMatteo
Secretary
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SOUTHERN NEW ENGLAND TELECOMMUNICATIONS CORPORATION
FORM 8-K
EXHIBIT INDEX
Exhibit
Number
20 News release issued May 18, 1995.
SNET NEWS RELEASE
227 Church Street
New Haven, CT 06510
May 18, 1995
FOR FURTHER INFORMATION, CALL: Bill Seekamp
203-771-2136
SNET SEEKS ALTERNATIVE REGULATION
TO PAVE WAY FOR MARKETPLACE OF TOMORROW
In response to a comprehensive set of proceedings
initiated by the Connecticut Department of Public Utility
Control (DPUC) to implement legislation permitting
competition in all telecommunications markets, SNET today
gave notice of its intent to seek an alternative form of
regulation more consistent with an increasingly competitive
marketplace.
SNET is also providing the DPUC with financial data to
enable the Department to conduct a financial review. This
review will help put in place a framework for developing an
alternative form of regulation.
"We are not seeking to increase the price of local
service," said Daniel J. Miglio, SNET chairman and chief
executive officer. "We will stand by our previous agreement
not to increase local service rates before 1998. Beyond
that, marketplace forces will increasingly determine the
price levels of telecommunications services, including local
service which becomes competitive this year."
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He noted that this is an essential step in preparing
for the fully competitive marketplace called for in the
legislation that was enacted last year. The review will
provide a frame of reference for making necessary changes in
the nature of regulation.
"In the fully competitive market of the future,
customers can expect to benefit from increased choice, the
swift introduction of new products and market-driven prices
for telecommunications services," Miglio said.
The accelerating pace of technological change is
driving changes in the marketplace and in regulation. The
telecommunications, computer and cable television industries
are converging and competition is intensifying. In
recognition of these changes, legislation passed in 1994
opened up all telecommunications markets in Connecticut.
The DPUC is now conducting a series of proceedings
that will set the terms and conditions to implement that
law. This includes making decisions on complex issues such
as the reclassification of services that are found to be
competitive, the certification of providers of competitive
services, competition for local service, assuring universal
service, funding lifeline service, the costs of providing
service and capital recovery.
"We believe competition is good for Connecticut, our
customers and SNET. We also believe that competition will
be most effective if the rules provide equal terms and
conditions for all competitors." Miglio said.
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The first part of this review will begin in mid-June
with SNET filing financial information with the DPUC, as
well as a description of the fundamental elements of its
alternative regulation plan.
In the second part of this proceeding, which will begin
in the fall, SNET will include details of the proposed plan
for alternative regulation, including pricing provisions,
cost of service studies, and reporting proposals.
SNET, a Connecticut-based company reaching beyond its
traditional borders, provides local, national and
international calling; mobile communications; and
publishing, information and advertising services. It is
building I-SNET, a statewide information superhighway that
brings to its customers a full array of information,
communications and entertainment services.
