CEOs of US’s top energy firms received average pay raise of $12.3m, review finds
CEOs of the US's top energy firms received an average pay raise of 16%, bringing their average compensation to $12.3 million, according to a review by the Energy and Policy Institute. This increase comes as utility bills have risen significantly, with some customers facing bill hikes of up to 40% since 2021 and 13 million service disconnections nationwide in 2025. Despite performance issues and customer hardships, executive pay rose at 38 of 51 major utilities, often funded by customers through rate hikes.
- ▪CEO pay increased at 38 of 51 top utilities, with collective raises totaling $82 million.
- ▪Utility bills have risen as much as 40% in some regions since 2021, and consumers paid over $5 billion for CEO compensation between 2017 and 2025.
- ▪Bill Ferhman of American Electric Power received a $23 million pay increase, despite the company disconnecting service 173,000 times.
- ▪Many utility CEOs received raises and perks like private jets and condos, even when failing to meet performance standards.
- ▪Utilities are often regulated monopolies, leaving customers unable to switch providers and with limited accountability mechanisms.
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Tim Cawley, the CEO of ConEd, saw his compensation increase to $20m and Chris Womack, Southern Company’s CEO, saw an increase to $28m. Composite: Getty ImagesView image in fullscreenTim Cawley, the CEO of ConEd, saw his compensation increase to $20m and Chris Womack, Southern Company’s CEO, saw an increase to $28m. Composite: Getty ImagesUS news CEOs of US’s top energy firms averaged nearly 16% pay raise to $12.3m, review findsUtility bills are up as much as 40% in some regions, and companies shut off power to customers 13m times in 2025Tom Perkins in DetroitWed 29 Apr 2026 06.00 EDTLast modified on Wed 29 Apr 2026 10.56 EDTSharePrefer the Guardian on GoogleThe US’s top utilities’ CEOs enjoyed a 16% pay raise last year – to an average of $12.3m – even as consumers shoulder the pain from…
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