LEC Loses Over US$200K in Revenues

first_imgIt has been reported that over US$200K in revenues may have been lost to power theft operators in Double Bridge Truck Garage Community, located on Somalia Drive, Monrovia, in the last eight months.LEC’s Deputy Managing Director for Commercial Services, J. Famatta Kallon Sirleaf, who led an ambush operation for more than one hour that uprooted a stockpile of cables and wires buried underground in the area, decried the “persistent theft of power in the various communities which is undermining progress in the energy sector.”She said while the LEC has introduced internal reforms to ensure effective customer support services, there are unpatriotic Liberians who are determined to frustrate LEC’s determination to ensure smooth and affordable power supply for all.“Look at the number of wires and cables pulled from this community and you will know that we have grave challenges.“We spend huge resources for fuel and other materials to provide services to consumers and yet we are frustrated because what we put out is not recouped simply because a syndicate goes on in several communities to undermine our efforts,” she lamented. Madam Sirleaf vowed to reinforce the corporation’s campaign to fight power theft. During the sting operation that also affected Amagashie Community next door, technicians, armed with shovels and ladders, dug in several locations, pulling out wires and cables and cutting off wires jammed and connected to meters on poles. Residents admitted that they are charged U$10 per individual per week by the syndicates, in an area that hosts more than 200 residents.Four meters were seized from homes and poles, with a particular meter that has been registered to someone on the Old Road Community since 2013, according to Mr. Owen Richards, who is LEC’s point man with his team responsible for uprooting power theft. “I was in this community seven months ago but did not come across this meter so it could be one of what is known as a ‘walking meter’ which people sell to others, who then take it to another community,” he said. Community residents watched the operation yesterday without incident or backlash, under the intense watch of police officers.Richards said the fight against power theft is colossal with risks of personal safety to himself and his team because many people who are aware of their work sometimes plot to harm them.Meanwhile, during yesterday’s campaign, a woman was arrested by police officers on guard with Richard’s team, when she offered L$3,000 so that her meter, which she admitted was connected by ‘someone,’ could be ignored.“She said she could give us additional money, but she admitted that she had been receiving free current,” Richards said. “Although power theft falls within economic crimes against the state, any form of punishment to offenders is not dispensed therefore those caught stealing power are not normally punished to deter others from doing the same. It makes us to look bad and we find our efforts against power theft not bearing much fruit.” Responding to Richards’ statement, DMD Sirleaf said efforts are underway to ensure that those caught stealing power are punished by law.She said there is no justification for any Liberian to steal power, because restoring power to benefit the country is a gradual process.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

MOU layouts framework for LNG industry in B.C.

first_imgLiquefied Natural Gas facilities are major long-term investments, and their proponents want long-term certainty that these investments will be treated fairly and consistently over the term of the investment.“The benefits from LNG activity will be significant for British Columbia’s economy, and we want to help companies and communities make that happen,” said Minister of Finance, Michael de Jong. “These agreements will help provide LNG companies with the kind of certainty they need to make long-term plans to do business in communities across BC.”The PDA provides, through legislation, measures to ensure that Pacific NorthWest LNG will not face significant increases in certain specific taxes for the specified term of the agreement. It will be protected from adverse changes to LNG income tax, the natural gas tax credit, the carbon tax and key features of greenhouse gas emissions at an LNG facility. In addition, the government has already passed a long-term LNG taxation framework, long-term royalty agreements and measures allowing local government tax agreements with Pacific NorthWest LNG.- Advertisement -The agreement has provisions which guarantee that if the Province negotiates a more beneficial agreement with a proponent in a future PDA, the better element can apply to any PDAs which were signed and agreed upon earlier. This is ensure that no proponent is penalised for reaching an earlier agreement. It has also included compensation provisions in the event that the Province increases or changes the LNG tax, the natural gas tax credit, or the tax on greenhouse gas emissions.A new section in the Petroleum and Natural Gas Act was introduced in 2015, which allows the Province to enter into long-term royalty agreements with natural gas producers. The first of these is with the North Montney Joint Venture, which is providing the natural gas to Pacific NorthWest LNG. Once ratified, this agreement will run from Jan 1, 2016 to Dec 31, 2038. As part of this agreement, NMJV must produce a minimum amount of gas per year, starting at 159.46 bcf in the first year, and climbing to 373.31bcf in 2038.The royalty rate is preset each year, starting at 6.06 per cent the first year, and rising to 13.36 by 2038. This provides the company with certainty, as their production and royalty rates are known in advance.Advertisementlast_img read more