TRUE SAVINGS

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Long-distance telephone bills could plummet by a total of as much as $1 billion this year as a result of today's 4-1 Federal Communications Commission vote to order a cut in the charges that long-distance carriers paylocal phone companiesfor access to their systems. But the change would amount to little more than change in the pockets of the average customer, who probably will see average monthly bills trimmed by about 34 cents.TIME Washington economics correspondent Suneel Ratansays the rate cut likely will be passed on to consumers because of fierce competition for customers among the leading long-distance carriers.