Cable & Wireless is making another bid to keep its customers from switching to rival TeleBermuda International Ltd. The company has submitted another plan to the Telecommunications Commission to offer cheaper long-distance rates.

The proposed rates were advertised in The Royal Gazette this week.

In July the Telecommunications Commission rejected the company's previous proposal to lower international rates on the grounds it failed to satisfy Government's telecommunications policy as outlined in a position paper of May 10, 1996.

The position paper stated the manner in which Government was going to open up competition in the local and long distance telecommunications market.

Government warned that it would not allow "predatory pricing'' by the already established carriers -- Cable & Wireless and the Bermuda Telephone Co. Ltd. -- to harm the start up of new entrants like TeleBermuda.

The term "predatory pricing'' generally refers to attempts by one competitior to undercut a rival's prices at below market rates so as to drive it out of business.

Cable & Wireless General Manager John Tibbles said he hoped the new rate proposal would meet a better fate at the hands of the Telecommunications Commission.

The company has been in talks with Government and the commission over what it sees as an unfair policy which gives TeleBermuda a competitive advantage.

TeleBermuda rates are 15 percent less than Cable & Wireless international rates.

"We hope they have heard us,'' Mr. Tibbles said yesterday during the weekly Lions luncheon meeting at Pier 6..

Cable & Wireless proposed rates and extended discount periods would in some cases be cheaper than TeleBermuda's rates.

In its decision in June the Telecommunications Commission said the company should submit a "comprehensive'' rate package. The commission would then establish a top and bottom range within which Cable & Wireless would be able to set its rates.

Mr. Tibbles said meetings with government officials were underway to establish a rate package.