NYC PSC Approves $13 Million Settlement With Charter Communications®

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$13 Million Settlement

The New York City Public Service Commission has approved the $13 million settlement with Charter Communications Inc® recently. When Charter Communications Inc® applied to PSC for the Time Warner Cable® merger last year, they were told to build-out their cable network in a certain pace, which was required by the commission. The requirement from the commission demanded Charter Communications® to deliver broadband speeds to up to “100 Mbps” in NYC by the end of 2018 and “300 Mbps” by 2010. The Commission also demanded the “cable company” to build-out to “145,000 underserved homes and businesses within four years of the closing of the transaction in four equal phases of 36,250 premises per year.”

However, the NYC Public Service Commission’s records indicate that Charter® has expanded only to 15,164 un-served homes that meet 42 percent of the build-out for the first phase as on May this year. “In its approval of the merger, the commission required Charter Communications Inc® to undertake several types of investments and other activities,” said PSC Chairman John B. Rhodes in a recent press release. “While Charter Communications Inc® is delivering on many of them, it failed to expand the reach of its network to un-served and under-served customers at the pace it committed. We are taking these additional steps to ensure full and complete compliance.”

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The Commission says that the settlement is one of the largest cable company financial settlements in the history of NYC and quite possibly the largest nationwide as well. As of now, Charter Communications® provides affordable internet plans as well as best cable deals under the Spectrum® brand to many regions in the country. As part of the “settlement agreement”, the company created a website to inform the residents and the businesses whether their addresses are included in their broadband expansion plans.

“Thousands of upstate consumers now have access to Spectrum® services where approvals and make-ready have occurred, and we have a solid deployment plan to reach the thousands of additional homes in our commitment,” said one of Charter’s representatives in response to the news. The settlement will make the “cable company” pay $1 million out of $13 million into the “escrow account” as part of the “compliance plan” to provide accesses to the computer and the internet to the un-served residents.

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