Electricity has been restored to parts of Monrovia through generators using diesel fuel.
In July 2010, the government-owned Liberia Electricity Company (LEC) signed a five-year management contract with Manitoba Hydro, a Canadian company, to manage the country's electricity network and pave the way for private sector involvement in generation and distribution.
As Liberia rebuilds its energy system, its vision is to be a carbon neutral country. This aspiration makes biofuels and hydroelectric power particularly important.
The discovery of offshore oil is also an important development in the country's energy and economic future.
Biofuels: Liberia's favorable climate and abundant farmland make thermal generation from biofuels a promising area for investors. There are also opportunities to generate energy from jatropha, sugar, oil palm, and other crops that already flourish in Liberia.
Hydroelectric power: In the long-term, harnessing hydroelectric power is essential to meeting Liberia's electricity demand affordably and sustainably. There is considerable potential for hydroelectric power: studies estimate a potential of approximately 1,100 MW—enough to potentially export energy to neighboring countries in years to come.
The government is also a member of the West African Power Pool (WAPP), which is a cooperation of the national electricity companies in Western Africa under the auspices of the ECOWAS. Members of WAPP are working to establish a reliable power grid for the region and a common market for electricity.
Oil: West Africa is a major oil-producing region, and there are indications that Liberia has significant potential to begin producing oil as well. While the overall size of Liberia's oil deposits is still being established, the National Oil Company of Liberia (NOCAL) estimates that there may be more than 1 billion barrels.