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Investment

LEC Signs 5-Yr. Management Contract With Canadian Firm

Liberia Electricity Corporation or LEC is expected to sign a 5-year Management Contract with Manitoba Hydro Electric Power of Canada.

Though details of the contract have not been released, a Zambian firm opted out of the bid to manage the LEC after that country encounter some difficulties in its power supply.

This development come as LEC struggles to provide electric power to all of Central Monrovia using thermo power.

The government launched the Emergency Power Project or EPP phase one on July 26, 2006, with the theme: “Small Light Today, Big Light Tomorrow.”

The LEC was to manage the project in phases, particularly the distribution of power in stages that would enable it raise the much needed revenue as it gradually expands, while government and its donor partners on the other hand work around a total power restoration.

But all of these seem have to been a dream far fetch, as the current distribution exercise is mainly focus on friends, girl friends and relatives to the neglect of potential customers as the city risk returning to darkness.

The LEC Managing Director Joseph T. Mayah recently announced a power rationing exercise, while hinting the rise in its tariff by about 3% as a result of an increase in Petroleum pump price. The company has continually complained of limited funds to run its European donated generators and lack of spare parts.

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