Pac Bell Has Some Explaining To DO
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An independent audit has found that SBC Pacific Bell should refund its customers nearly 350 million dollars for failing to comply with state accounting and regulatory
requirements.
The audit commissioned by the state Public Utilities Commission found 67 specific adjustments to Pac Bell´s regulated revenues, expenses and rate base. Auditors say that would increase Pac Bell´s net operating income by nearly two billion dollars for the three-year period.
That translates into customer refunds of nearly 350 million dollars for 1997 and 1998.
Pac Bell says it´s confident it fully complied with PUC requirements and that refunds were unnecessary, but says it will take corrective action where appropriate.
