Officials recently approved a motion to get a cost estimate on the salvage value of Escanaba's power plant. It's a way to assist in the negotiation process to keep the plant operating.
Richmond-based Recast Energy is interested in buying the plant and converting it to a woody biomass plant.
According to electric superintendent, Mike Furmanski, they've also received a letter of interest from American Wind and Energy Group, as well as a local company, Escanaba Green Energy. The companies are being equally considered at this point. The next round of proposals is due February 24.
They'll then be given a ranking of who the city prefers to negotiate with.
"You know, we're in the neighborhood of $3.5, $4 million a year that we're losing on the plant," Furmanski said. "Overall, we're budgeted to lose $1.7 million."
The plant was shut down December 22, but came back online January 23.