I. SUMMARY

In Decision (D.) 06-03-025 (or "Decision"), the Commission established permanent unbundled network element ("UNE") rates and price floors for Verizon. In today's decision we deny the application for rehearing of D.06-03-025, filed by Verizon California, Inc. ("Verizon"). Although we deny rehearing, we do modify D.06-03-025 to clarify the capital structure we adopted in the Decision, and to correct a clerical error, as discussed below. Accordingly, rehearing of D.06-03-025, as modified, is denied.