Mayor McNally says customers won't lose service from Youngstown - News weather sports for Youngstown-Warren Ohio

Mayor McNally says customers won't lose service from Youngstown Thermal

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A Youngstown heating and cooling company could be facing trouble in the Valley.

The Public Utility Commission of Ohio, or PUCO, is asking that Youngstown Thermal be appointed a receiver, who would oversee the companies finances.

This comes after reports say the company is facing financial instability.

The company, located on North Avenue, reportedly serves about 40 customers, including the city of Youngstown. 

However, Youngstown Mayor John McNally says Thermal's customers won't have to worry about losing service.

"Youngstown Thermal is a public utility. It's gonna be here whether as Youngstown Thermal, or as another company that steps in," said Mayor McNally. "I'm more worried about how we can get the system running with consistent cash flow, and I think that's what the PUCO is concerned about too." 

The report comes just three days after Youngstown Thermal CEO Carl Avers announced that his company is in discussions with two French energy companies, both interested in buying Youngstown Thermal.

Avers places a $91 million dollar value on Youngstown Thermal's assets, which include the North Avenue plant and six miles of underground steam pipes.

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