If you still have a land line phone in your home or office, Virginia has reached a new agreement to cap the rising cost of service.
The Virginia State Corporation Commission announced today the extension of an agreement with Verizon to limit the increase on residential phone service to $1 per year. For businesses, the annual increase will be capped at $3 per year.
The caps are limited to basic local exchange phone service only and do not include features like caller ID, call waiting, and voice mail. The cap also does not apply to customers that have plans that bundle multiple features and services. About one third of Verizon’s customers still have basic service, according to a press release.
The original cap agreement has been in place since January 2008. The new agreement will be in effect until January 1, 2015.
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