The Management of the Liberia Electricity Corporation (LEC) has disclosed plans to reduce the cost of operations which have been causing a great loss to the entity.
LEC Chief Executive Officer John Ashley is confident that with reduction in the cost of operations, the entity will immensely drive towards a more meaningful success.
According to Ashley, the decision to reduce its operational cost is based on the increase in power-thief that is causing a decrease in revenue generation for effective operations of the corporation. Ashley also disclosed that LEC is incurring losses of US $16m annually as a result of power theft.
The LEC Executive said as a means of realizing more revenues it generates, the corporation is going to put in place a Revenue Protection Unit to address the issues of power-theft. He said the corporation is engaging with authorities at the Ministry of Justice to put into place legal deterrent for people involved in power burglary.
