UPDATE | PUCO sends Youngstown Thermal into receivership

COLUMBUS — The Public Utilities Commission of Ohio has approved the PUCO staff's recommendation to have the Ohio attorney general approve a receiver for Youngstown Thermal.

The 2 p.m. PUCO hearing on the matter lasted just a few minutes.

DOCUMENT SET: Youngstown Thermal

The commission rarely meets on Friday, but said it had to act swiftly on the issue because Youngstown Thermal cannot assure providing adequate service to its customers.

The steam company provides heating and cooling to some 50 buildings in downtown Youngstown.

The PUCO staff determined that Youngstown Thermal is unable to pay its utility suppliers, debt service and employee payroll when the expenses are due.

Youngstown Thermal says the loss of its major customer in Youngstown State University, the ending of a Department of Energy project and four major customers not paying their bills led to the company's financial difficulty.