PUCO lifts surcharges on Youngstown Thermal customers
Surcharges put in place in August on Youngstown Thermal customers have been suspended.
The Public Utilities Commission of Ohio commissioners suspended the surcharges during its Wednesday meeting.
“The PUCO wants to acknowledge and thank customers for their patience and understanding, and the receiver for his dedication and hard work,” Asim Z. Haque, PUCO chairman, said in a statement.
Reg Martin, receiver of Youngstown Thermal who has been working since August to put the utility’s finances in line, asked the commission to suspend the surcharges.
“We did not want to burden the customers anymore,” Martin said.
The work done in recent months at Youngstown Thermal has brought the company to where cash flow is pretty close to break even, Martin added.
Youngstown Thermal, which provides steam and chilled water service for heating and cooling purposes to about 40 downtown customers, could not ensure adequate service to its customers and was in danger of insolvency, so PUCO was asked to step in. Martin was appointed by the court in August to take over and fix the company’s financial struggles.
Read more about the matter in Thursday's Vindicator or on Vindy.com.