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            "text": "Through June 30, 2019, VMUS' cumulative electric operating deficit was $26.2 million. These losses have been funded primarily through transfers and loans from the City's General Fund. VMUS incurred significant start-up costs, including payment of exit fees to Southern California Edison and outstanding indebtedness associated with the unanticipated failure of the Foxborough Cogeneration Facility. Significant capital expenditures are also required by VMUS to improve electric service reliability and expand capacity to serve new businesses."
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            "text": "Finding: The Victorville City Council finds that VMUS' cost limitation should be set at a level that does not threaten the long-term financial stability of VMUS by reducing its existing customer base and that VMUS' cost limitation is also set at a level that allows VMUS to reduce its negative Net Fund Position."
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            "text": "C. Cost of Full Compliance",
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            "text": "To estimate the cost of full compliance for Compliance Period 3, VMUS relies on the cost data from completed transactions by another small POU. Based on the completed transactions by another POU, VMUS assumes that the cost of the electricity product would have been for: PCC1 is $15.50/MWh; PCC3 is $0.95; and PCC2 is $6.00. The following table shows the forecasted cost of full compliance based on these assumptions."
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