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The Victorville City Council has authorized $173 million to buy natural gas-fired turbines from General Electric for its proposed 550 MW power plant project. Total construction for the entire plant, to be completed by 2010, is expected to reach $800 million, or about $1,450/kW.

The contract comes before any permit has been issued for the project by the California Energy Commission.

If the city decides to own the power plant, the $800 million construction financing will be paid back with revenue from the power plant. If the city sells it, the financing will be paid back with a 1 percent property tax revenue on the plant.

The cities of Riverside, Los Angeles, Anaheim and Alameda are among several that own their own power plant operation.

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