The average U.S. utility company CEO made about $5.8 million last year, according to a sample of 54 electric power utilities conducted by SNL Energy. This is roughly an $800,000 increase over SNL’s numbers in 2013.
Of the companies sampled, 40 of them saw jumps in CEO pay and 14 saw less compensation than in the prior year.
Thomas Farrell II, chairman, president and CEO of Dominion, was the highest-paid utility CEO in 2014, according to SNL. Farrell’s total option-adjusted pay was nearly $17.3 million.
This is an increase from 2013, when Farrell made about $10.9 million, according to SNL.
The next highest-paid CEO after Farrell was Exelon Corp.’s president and CEO, Christopher Crane, who earned about $12.6 million in option-adjusted compensation. This was a drop from 2013, when he made $15.6 million and topped SNL’s list.
James Robo, chairman, president and CEO of NextEra Energy rounds out the top three. Crane’s earnings came in at $11.7 million.
According to SNL Energy, the top 10 highest paid utility CEOs, ranked by total option adjusted compensation are:
1. Dominion’s Thomas Farrell II, $17,326,642
2. Exelon Corp.’s Christopher Crane, $12,558,844
3. NextEra Energy’s James Robo, $11,702,690
4. American Electric Power Corp.’s Nicholas Akins, $11,013,733
5. Pepco Holdings’ Joseph Rigby, $11,006,781
6. FirstEnergy Corp.’s Anthony Alexander, $10,890,217
7. PG&E Corp.’s Anthony Earley, Jr., $10,671,367
8. NRG Energy’s David Crane, $10,285,245
9. Wisconsin Energy’s Gale Klappa, $9,850,381
10. DTE Energy Co.’s Gerard Anderson, $9,658,604