This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

FairPoint Benefits From Regulatory Reform In Maine, New Hampshire And Vermont

"This levels the playing field when it comes to offering competitive pricing," said Mike Smith, FairPoint's Vermont state president. "We have the team and the technology to go head to head with anyone; now we can compete in real time."

The new plan recognizes the strides FairPoint has made in improving and maintaining high standards of customer service. It substantially reduces the amount of service quality penalties FairPoint could be subject to, to a maximum of $1.65 million per year, down from $10.5 million per year.  With continued strong service quality performance, automatic penalties will be eliminated in 2013.

About New Hampshire In New Hampshire, the legislation allows telecommunications providers to compete more effectively and confirms that Voice over Internet Protocol (VoIP) services and IP-enabled services are not subject to regulation.  It also preserves incumbent local exchange carrier obligations to serve as the carrier of last resort and ensures that all residents have an affordable basic service option for phone service. 

The new law provides regulatory freedom for all retail products and services, and allows FairPoint flexibility to quickly adjust its pricing to respond to changes in the marketplace.  Also, it removes longstanding regulatory requirements, including burdensome recordkeeping and financial penalties that inhibit competition, drain resources and increase expenses.

"The legislation puts in place much needed regulatory reform reflecting today's competitive realities," said Pat McHugh, FairPoint's New Hampshire state president. "The current regulatory system, which was created 100 years ago, had become completely outdated because of changes in the telecommunications marketplace."

McHugh stated that the regulatory reform legislation eliminated the previously imposed New Hampshire retail service penalty scheme that exposed FairPoint, and no other carrier in New Hampshire, to penalties in the amount of $12.5 million per year.

About Maine The legislation passed in Maine - the first fundamental overhaul of the state's regulatory statute since 1913 – also moves the regulatory requirements of all telecommunications providers closer to parity. 

"The legislation is a bold step forward and recognizes that the industry is going through a period of dramatic change," said Mike Reed, FairPoint's Maine state president.  "Vigorous competition is a reality in Maine, and telecommunications regulation will now reflect that."

The new regulation provides regulatory freedom for all retail products and services and allows FairPoint flexibility to quickly adjust its pricing to respond to changes in the marketplace.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.98 -0.21%
FB $116.77 -0.56%
GOOG $692.36 0.00%
TSLA $230.00 -1.00%
YHOO $36.01 0.00%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs