-Over Electricity Loss
By Jackson C. Clay, Jr.
The head of the Liberia Electricity Corporation (LEC), Paschal Buckley says LEC has increased the rate of tariff due to the huge loss the entity incurs.
Speaking Wednesday, May 8, 2019, on Capitol Hill at the public hearing on the power theft Act submitted by President George Weah to the legislature, Buckley said in order to compensate for the loss the company incurs on a monthly and yearly basis, the LEC has to raise the tariff on the cost of electricity in the country.
“As we speak today, Liberia’s Electricity Corporation is in deep financial difficulties. For every thousand mega Walt hour of electricity that we generate in the LEC, the LEC can only account for two hundred forty mega Walt hours and in order to compensate for that theft of electricity, what actually happening on the grounds is that the electricity tariff is be driven up but also the Government of Liberia through the generosity of the Ministry of Finance and Development Planning (MFDP) is being funding activities on behalf of LEC,” Buckley told members of the Senate Committee on Lands, Mines, Energy and natural Resources.
Buckley disclosed that during the dry season, the general populaces of Monrovia only enjoy electricity due to the kind courtesy of the Finance and Development Planning (MFDP), who according to him has been providing Heavy Fuel Oil (HFO) for the generator of the LEC.
The Liberia Electricity Corporation boss indicated that the tariff of the LEC is one of the highest in contemporary time in Africa, thus, the height is due to the electricity theft in the country and this high electricity tariff does not in any way make Liberia attractive for business.
“LEC electricity tariff is one of the highest in modern times in Africa and its high directly because of the theft of electricity in the country. High electricity tariff does not make Liberia an attractive location to setup a business, so it is importance that we reduce the electricity tariff by reducing the amount of theft,” Buckley noted.
He asserted that this huge theft that is ongoing at the level of the LEC is also responsible for the company’s inability to fund its day-to-day activities, adding that had it not been for the effort of the Government of Liberia, the electricity would have gone off in Monrovia during the start of the dry season.
He stated that though the LEC is grateful to the Government of Liberia for its kindness, he pointed out that this cannot continue in the future, noting, LEC must be able to conduct herself into an organization that is able to handle her own bills.