PORTLAND, Maine (AP) -- FairPoint Communications Inc. says regulatory reforms in Maine, New Hampshire and Vermont reduce the potential penalties the company could incur by more than $31 million a year.
FairPoint officials said Wednesday the benefits come from legislation in Maine and New Hampshire and the Vermont Public Service Board's approval of its four-year regulatory plan.
The changes in the three states reduce the penalties the company could face for falling short of service standards. CEO Paul Sunu says the changes also allow more pricing flexibility, making it more competitive in the marketplace a year and a half after emerging from bankruptcy.
North Carolina-based FairPoint provides landline telephone, Internet and other telecommunications services in 18 states. Its largest holdings are in northern New England, where it has about 1.1 million access lines.