The New York State Public Service Commission has ruled that Bell Atlantic Corp should refund New York ratepayers $20m of the proceeds of its Bell Communications Research (Bellcore) sale. Bell Atlantic’s interest in Bellcore has been funded by ratepayers, there is no doubt that the net proceeds of this sale should be returned to ratepayers, said the commission’s chairman, John O’Mara. The commission estimated the rebate will work out at about $2.50 per ratepayer. Bell Atlantic Corp said it disagreed with the decision but has yet to decide on its response, which may include lodging an appeal with the commission. Bellcore, the research and technical support arm of the regional Bell companies, is being bought by Science Applications International Corp.
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