Home Savings seeks to intervene in Youngstown Thermal case
While the receiver continues work to get Youngstown Thermal’s finances under control, a local bank has filed a motion to intervene in the Public Utilities Commission of Ohio case against the utility company.
Home Savings Bank uses Youngstown Thermal’s heating and cooling services at its corporate headquarters at 275 W. Federal St. downtown.
Youngstown Thermal’s financial struggles left the company unable to pay its payroll and utility expenses in a timely manner. Fearful of a potential energy crisis in downtown Youngstown, PUCO, via the Ohio Attorney General’s Office, had the court appoint a receiver for the company in concern for the utility’s 45 customers.
“PUCO has moved so quickly in this matter that intervention by ratepayers at the PUCO hearing level has been effectively impossible,” the bank’s motion reads. “If PUCO had held administrative proceedings on this matter, Home Savings would have had a mandatory right to intervene to protect its interests.”
Read more about the situation in Saturday's Vindicator or on Vindy.com.