PUCO approves new rates for Youngstown Thermal
The Public Utilities Commission of Ohio approved a request from Youngstown Thermal, a district heating and cooling system that provides services to more than 40 customers in downtown Youngstown, to implement interim rates for heating and cooling services.
The new rates replace the current usage based charges with a fixed monthly customer charge and usage based rates. The new rates allow Youngstown Thermal the opportunity to recover a monthly budget amount and be less dependent on seasonal usage.
New rates for customers are effective immediately. The utility is directed to notify its customers within 30 days of its rate.
In June 2017, the commission sought the appointment of receiver for Youngstown Thermal because the company could not ensure adequate service to its customers and was in imminent danger of insolvency.
The receiver, Reg Martin, has been in place since August 2017. The commission also noted that interim rates are not a permanent solution, and recognized the receiver should be in the process of preparing to file a distribution rate case with the PUCO to establish long-term rates.