ESCANABA -- The City of Escanaba has selected a new buyer for their power plant. The $2 million sale will be to Fuel Streamers Group, headquartered in Houston, Texas.
Escanaba has been losing about $1.5 million a year on the plant. Fuel Streamers plans to continue operating the plant on coal when the deal closes at the end of the year.
The city had been considering biomass options, but wouldn't have been a practical choice with the possible discontinuation of biomass credits.
"Well, this is a big step, naming a party," said Escanaba Electric Superintendent Mike Furmanski. "I mean, we're quite a ways from the finish line yet. We're doing other due diligence. It's going to be cheaper power for them, so the plant will, should, continue to run."
Fuel Streamers plans on retaining all of the current power plant employees.
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