The Liberia Electricity Regulatory Commission (LERC) announces that on Monday, October 21, 2024, the Liberia Electricity Corporation (LEC) submitted a proposal for new electricity tariffs for the Commission’s approval.
The proposal is for the tariff period January 1, 2025, to December 31, 2027, and is in accordance with Section 8.1(2) of the 2015 Electricity Law of Liberia which states that “a licensee may not charge a customer any other tariff other than that determined or approved by the Regulator.”
This submission comes as the current tariff regime which came into effect on January 1, 2022, is set to expire on December 31, 2024.
In response to the proposal, the Commission has requested LEC to submit all supporting documents used to derive its proposed tariff structure.
When this is done, the commission will acknowledge a complete application and issue a notice of pendency for the review and approval of LEC’s proposed tariff in accordance with the 2015 Electricity Law of Liberia as well as the Commission’s 2021 Electricity Tariff Regulation, Multi Year Tariff Methodology and Cost Reflective Electricity Price Determination Model.
The Commission will also conduct a series of public hearings, stakeholder engagements, and outreach initiatives io ensure transparency and public involvement.
These forums will aim to solicit input of the Current Charge/Rate, proposed Charge/Rate Percentage Increase from electricity customers, consumers, policymakers, civil society organizations, and other interested parties before finalizing the tariff decision.
It can be recalled that in 2021, the Commission approved tariffs for five customer categories: Social Customers, Prepaid Residential Customers, Postpaid Residential Customers, Prepaid Non-residential Customers, Postpaid Commercial Customers, and Medium Voltage Customers.
These tariffs took effect on January 1, 2022, and are scheduled to end on December 31, 2024. Currently, LEC’s services encompass Montserrado, Grand Cape Mount, Bomi, and Margibi counties.
Additionally, the Commission is currently reviewing a tariff application from Jungle Energy Power (JEP), a company that operates the Bong and Nimba Counties distribution areas.
The new tariffs, pending approval, are set to take effect from January 1, 2025, through December 31, 2027.
LERC remains committed to protecting the rights of electricity consumers and ensuring that licensed operators provide quality service.
“We encourage all stakeholders to participate in the upcoming engagement activities to voice their opinions and recommendations,” the Board of Commissioners averred.
