Liberia Electricity Corporation’s CEO Monie Captan Trumpets Highs & Lows as He Takes His Bow
MONROVIA — With three days to relinquish his post, the Chief Executive Officer of the Liberia Electricity Corporation (LEC) Monie R. Captan, has highlighted significant gains and ongoing development initiatives of his leadership since assuming office July 7, 2021.
By Selma Lomax selma.lomax@frontpageafricaonline.com
Mr. Captan said he took over the LEC when the entity was grappling with several challenges but worked incessantly in addressing these issues.
“At that time, three out of four turbines at Mt. Coffee was functional, while all the thermal generators at Bushrod were down for maintenance and repairs. As a result, the national grid relied on only 3 hydro units which were only available mainly in the rainy season. Our first action was to repair all the thermal units and get them up and running.”
He lamented that the entity’s commercial losses drastically decreased by 33.4% from 2022 to October 2024 due to the establishment of the Anti-Power Task Force, robust metering and regularization of illegal consumers, regular onsite meter audits and vigorous monitoring of large customers.
“At the end of 2022, commercial losses were reported at 41.3%, which decreased to 31.4% in 2023, and which further decreased to 27.5% by October 2024. Thus from 2022 to October 2024, commercial losses have decreased by a total of 33.4%. This achievement was realized through a cocktail of innovative interventions – the establishment of the Anti-Power Task Force, robust metering and regularization of illegal consumers, regular onsite meter audits and vigorous monitoring of large customers, and a more robust responsive meter maintenance team”.
The outgoing LEC boss stated that revenue also increased under his administration by 183%, projecting an increment of $68,000,000 by the end of 2024.
“In 2022, LEC earned a total of $24,000,000, which increased to $54,660,000 in 2023, and $56,610,000 by October 2024, with a projected revenue of $68,000,000 by the end of 2024. Thus, from 2022 to 2024, revenue will increase by 183%”.
According to him, since the inception of power, import from CIE/CI Energies through the CLSG Transmission line, LEC has been billed $32,499,334 for energy imported, of which the amount of $27,116,114 has been paid as of October 2024 leaving an outstanding balance of $5,383,224. Additionally, LEC has also been billed by Transco CLSG a total of $9,425,267 for transmission charges, of which $8,314,034 has been paid, leaving an outstanding balance of $1,111,233.
Mr. Captan acknowledged the Government of Liberia as the largest consumer of the electricity supplied by LEC, but said the government owes the entity $18,975,049.
“LEC which accounts for approximately 14% of all energy sold. Currently, the government is indebted to LEC in the amount of $18,975,049 as of October 31, 2024”.
As part of completing donors’ support, LEC, according to him, for the first time in post war Liberia financed the connection of 9974 households across nineteen unserved communities to the grid at $5.2M, under its Gap Communities Electrification Project.
“Some of these communities had no electricity since the end of the war, and others from before the war. Beneficiary communities include Zeon Town, Iron Factory, Wanwosu, Virginia Red Hill Field, Brewerville Store, New Jerusalem Johnsonville etc. LEC is continuing its GCEP into its 5th Cycle with the connection of 1039 households in Paynesville and Bardnesville at an additional cost of $630,000.”
Mr. Captan further stated that through donor support, 3 new substations were added to the grid in Congo Town, RIA and Schieffelin enabling the extension of electricity to as far as Cotton Tree and Dolos Town, bringing the substation to 13.
“Today, LEC has 13 major substations, namely Bushrod, Mt. Coffee, Kru Town, Virginia, Kle, Capitol, Congotown, Stockton Creek, Gardnersville, Paynesville, Kakata, Schieffelin, and RIA. These substations supply energy through a total of 39 MV/feeder networks”.
The LEC boss emeritus added that in 2023, LEC joined the Edison Electric Institute as one of its 70 international members and as a strategic goal to collaborate with other electric companies on public policy, business development, and knowledge sharing. Since joining EEI, LEC has benefited from an important initiative aimed at enhancing the capacity and knowledge of LEC stakeholders.
The Government of Liberia is the largest consumer of the electricity supplied by LEC, which accounts for approximately 14% of all energy sold. Currently, the government is indebted to LEC in the amount of $18,975,049 as of October 31, 2024. The LEC management and the Board of Directors have engaged the government through the Ministry of Mines and Energy and the Ministry of Finance and Development Planning to ensure that beginning 2025, budgetary allocations will be made to pay for the energy consumption of each government entity through prepay metering service.
Monie R. Captan, outgoing CEO, Liberia Electricity Corporation
Mr. Captan has committed himself to updating the public about the General Auditing Commission (GAC) commenced audit of LEC on July 30, 2024, for the period 2018 to 2023. The audit is ongoing and will be published once completed. Concurrently, Price Waterhouse Coopers (PWC) is auditing LEC for the period 2021 to 2022. This audit is ongoing and will be published once completed.
Commenting on ongoing and planned projects, he unveiled that LEC has planned its future energy generation development on a transition from fossil-fuel-based thermal to renewable energy, with solar and hydropower as its priority sources.
Mr. Captan said the management of the LEC was successful in obtaining funds of $5.5m through the World Bank LESSAP project for the repair of the damaged unit, stating that the initiative will kick off in 2025.
“With the procurement process almost completed, we expect repairs to begin in 2025 thus restoring Mt. Coffee to its original 88MW installed capacity”.
According to him, construction of a 20MW solar power plant at Mt. Coffee has commenced and will be concluded by October 2025. This project, which cost $16 m, was financed through the World Bank under the RESPITE Project. The solar project can potentially be increased to 30MW.
He has announced that negotiations are underway to lease a 16.5MW solar plant with Battery Storage. LEC has already purchased 100 acres of land near its substation on the RIA Highway for this project and a Letter of Intent has been signed. The final contract is under discussion and will need to be finalized between LEC and SCATEC. The project is supported by the International Finance Corporation through financial guarantees.
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