Monrovia, Liberia – As Monie R. Captan, Chief Executive Officer (CEO) of the Liberia Electricity Corporation (LEC), approaches the conclusion of his tenure on November 30, 2024, his leadership over the past 2.5 years has drawn both praise and criticism. Captan, appointed in July 2022, took over the reins of an energy corporation grappling with inefficiencies, aging infrastructure, and a heavy reliance on external funding and expertise. Under his stewardship, LEC saw some progress in increasing energy supply, reducing commercial losses, and expanding its customer base, but challenges related to financial sustainability, government debt, and the need for further infrastructure improvements have persisted.
In a detailed press conference on November 27, 2024, Captan highlighted his administration’s accomplishments and addressed the ongoing difficulties that continue to plague the energy sector in Liberia.
At the time of Captan’s appointment, LEC was struggling with an unreliable power grid and limited energy generation capacity. The Mount Coffee Hydropower Plant, a critical source of energy, was producing only a fraction of its potential, and the Bushrod thermal power plants were largely non-functional. Captan’s administration prioritized the repair and maintenance of these thermal generators, investing more than $2 million to bring the thermal units back online. This restored an additional 28 megawatts (MW) of capacity to the grid, significantly improving energy availability. Furthermore, Captan’s efforts to secure a Power Purchase Agreement with CIE/CI Energies from Côte d’Ivoire allowed Liberia to import up to 27 MW of electricity, boosting supply during the dry season when hydroelectric generation is limited. These efforts helped increase Liberia’s overall energy capacity from 56 MW in 2022 to 107 MW by mid-2023, offering greater stability in the energy supply.
Despite these gains, Captan acknowledged that the corporation’s financial health remained fragile. One of the key measures for improving LEC’s fiscal standing was the reduction in commercial losses, a persistent issue for the utility. When Captan took over in 2022, LEC was facing a commercial loss rate of 41.3%, meaning that a significant portion of the electricity produced was either lost due to inefficiencies or stolen. Through a combination of measures—including the establishment of an Anti-Power Theft Task Force, enhanced metering systems, and increased customer audits—LEC was able to reduce these losses to 31.4% by 2023, and further to 27.5% by October 2024. This reduction translated into an increase in revenues, from $24 million in 2022 to $54.66 million in 2023, with projected revenues of $68 million by the end of 2024. This growth in revenue, while encouraging, has not been enough to offset LEC’s operational costs, and the utility continues to operate at a loss. In 2022, LEC posted a net loss of $27.2 million, which decreased to $18.3 million in 2023 and is projected to fall to $11 million by the end of 2024.
Government debt has also been a significant issue under Captan’s leadership. As of October 2024, the Liberian government owed LEC nearly $19 million in unpaid electricity bills, with the government being the largest consumer of electricity in Liberia, accounting for about 14% of the total power sold. Captan expressed concern over this outstanding debt and pointed to the government’s responsibility in meeting its energy obligations. To address this, he announced that starting in 2025, the government would transition to prepayment metering, a move aimed at ensuring more timely payments and reducing arrears. However, this plan has yet to be implemented, and questions remain about the government’s commitment to honoring its financial responsibilities to LEC.
One of the more tangible successes of Captan’s tenure has been the expansion of electricity access in underserved areas. Under his leadership, LEC initiated the Gap Communities Electrification Project, which successfully connected over 9,000 households across 19 communities to the national grid. This initiative, funded entirely by LEC’s revenue, cost $5.2 million and served as a significant achievement in extending the benefits of electrification to rural areas that had been left out of the national grid for years. The expansion of electricity services to these communities is seen as a key driver of local economic development, providing greater opportunities for businesses, schools, and health facilities.
Another area where Captan’s leadership has yielded results is in the improvement of network reliability. When he took over in 2022, LEC faced frequent and lengthy power outages, with the average number of power interruptions at 22 times per year and average outage durations exceeding 30 hours. Under Captan, the frequency of interruptions was reduced to five per year by the end of 2024, while average outage durations were cut down from 31 hours to just under nine hours. These improvements were facilitated by strategic investments in infrastructure, including the construction of three new substations in Congo Town, Roberts International Airport (RIA), and Schieffelin. These investments have significantly expanded electricity coverage, particularly in areas like Cotton Tree and Dolos Town, which were previously underserved or without power entirely.
Despite these advances, Captan’s tenure has faced significant criticism from various quarters. Environmentalists and energy experts have expressed concern over Liberia’s heavy reliance on thermal energy, which is expensive and environmentally unsustainable in the long term. LEC’s dependence on thermal generation, especially during the dry season, has meant high operating costs and greater vulnerability to price fluctuations in the global energy market. Captan’s plans to diversify energy sources through the development of renewable energy projects have been met with cautious optimism. In 2025, LEC is set to begin construction on a 20 MW solar power plant at the Mt. Coffee site, a key part of the company’s long-term strategy to transition to renewable energy. Additionally, plans are in place for the construction of a new hydro dam along the St. Paul River, which would increase Liberia’s total installed capacity by more than 400 MW.
Still, many are questioning whether these projects will be enough to meet the growing energy demands of the country. Liberia’s energy needs are expected to increase substantially in the coming years, particularly as the country’s industrial and manufacturing sectors begin to expand. Captan’s administration was able to grow energy supply by nearly 89% over the past two years, but whether this expansion can be sustained remains uncertain.
As Captan prepares to step down, his legacy is likely to be defined by both significant progress and unresolved challenges. While LEC has made strides in improving energy availability and reliability, the corporation’s financial health remains precarious, and its dependency on external energy imports leaves it vulnerable to economic shocks. The incoming CEO will face the daunting task of ensuring that LEC remains on a path to financial sustainability, while also tackling issues of energy access and the transition to cleaner, more affordable energy sources.
The results of ongoing audits, including the General Auditing Commission (GAC) audit and an independent review by PricewaterhouseCoopers, will likely shed more light on the effectiveness of Captan’s leadership and the financial management practices at LEC.
In his final remarks, Captan expressed his pride in the accomplishments of his team, stressing that the success achieved over his tenure was the result of collective effort. He also called for continued reforms and investments in the energy sector to build on the progress made and overcome the remaining obstacles. The Liberian public, energy stakeholders, and the international community will be watching closely as the LEC transitions to new leadership, hoping that the momentum Captan’s administration has built will not be lost in the transition.
