Thermal tells PUCO it needs help or downtown energy is in peril

YOUNGSTOWN — Staff at the Public Utilities Commission of Ohio have recommended that the commission immediately seek the appointment of a receiver to take over the Youngstown Thermal operations.

Youngstown Thermal told PUCO that without its intervention, “the current inability of Youngstown Thermal to pay its utility suppliers could result in an energy supply crisis in the downtown Youngstown area.”

Youngstown Thermal has more than 50 buildings in downtown on its energy network.

The staff released a report today after investigating the financial difficulty of Youngstown Thermal, a steam company that provides heating and cooling to downtown buildings.

“Through this review, staff determined Youngstown Thermal is unable to pay utility suppliers, debt service and employee payroll when those expenses come do,” the report says. “Staff recommends that the commission take action to facilitate new direction and a possible turn-around of a critical utility service that is otherwise insolvent or destined to fail.”