Liberia: Seven Steps To Liquidate And Sell LEC Once And For All And Solve Our National Problem!
1) Assess all its assets including all plants and equipment to ascertain a value of the company after deducting its liabilities. GOL then assumes all outstanding liabilities on LEC books.
2) Market Valuation– Assess market revenue potential over the next 60 months assuming adequate collection of projected revenues and seriously minimizing power theft by the new market driven private sector entities.
3) Put out an international tender inviting FOUR QUALIFIED companies and their local partners to bid for acquisition of LEC assets. The emerging West Africa Power Pool makes it an attractive proposition.
4) Two of the companies will bid strictly for TRANSMISSION from power sources to substations and the other two companies will bid strictly for DISTRIBUTION to end users. Each company is to operate independent of the other as four distinct service providers.
5) Each company approved will have designated geographical foot print/service areas covering the entire country.
6) LEC as we know it is therefore dissolved and a new Authority is created for the sole purpose of managing power generation (Hydro dams) and other sources such as solar plants. This Authority should be granted the power to raise capital issuing bonds.
7) The Government Regulator then swings into full gear to regulate an independent and market driven PRIVATE energy sector encouraging supply chain opportunities for LOCAL service providers, as well as Regulate the new power generating entity.
The market will completely transform and be able efficiently deliver services!