Charlottesville, Va., May 11, 2011 – As energy prices continue to rise, find out which power and gas utility companies gave their CEOs raises by the multi-millions and what that equated to for their compensation bottom lines in 2010.
The CEO raises listed below are incorporated into the total 2010 compensation listed for each CEO. In other words, the corresponding 2010 total compensation data already includes each raise.
The top 10 power and gas utility CEOs ranked by increase in compensation from 2009 to 2010 are:
1. Dominion Resources, Inc.’s Thomas F. Farrell II with a $4,571,772 raise and 2010 compensation of $14,953,536.
2. Westar Energy, Inc.’s William B. Moore with a $4,196,047 raise and 2010 compensation of $5,286,672.
3. Southern Co.‘s Thomas A. Fanning with a $3,405,352 raise and 2010 compensation of $11,464,456.
4. Covanta Holding Corp.’s Anthony J. Orlando with a $3,355,150 raise and a 2010 compensation of $5,634,348.
5. Hawaiian Electric Industries, Inc.’s Constance H. Lau with a $3,053,654 raise for a 2010 compensation of $5,119,092.
6. Duke Energy Corp.’s James E. Rogers with a $1,960,538 raise for a 2010 compensation of $8,462,892.
7. Edison International‘s Theodore F. Craver Jr. with a $1,907,519 raise for a 2010 compensation of $7,435,907.
8. FirstEnergy Corp.’s Anthony J. Alexander with a $1,763,389 raise for a total compensation in 2010 of $8,744,651.
9. American Electric Power Co., Inc.’s Michael G. Morris with a $1,591,558 raise for total 2010 compensation of $8,684,346.
10. Alliant Energy Corp.’s William Douglas Harvey with a 1,565,364 raise for a total 2010 compensation of $4,750,861.
All listings represent the sum of cash equivalent compensation, stock awards, option awards and non-equity incentive plan compensation. Changes to pension benefits were excluded from total comp. All stock and option awards are taken at grant date fair value.
Only companies with the same CEO for 2009 and 2010 for which compensation data represents the entirety of those years was included.