"Utility bills have increased as much as 40% in some regions since 2021, and nationwide, utilities shut off power to customers 13 million times last year, according to federal data."
"The analysis found that 38 CEOs received pay raises, collectively totaling $82 million, while many executives were provided private jets and other perks that customers often funded."
"Since 2017, utility CEO compensation has risen 47% on average, outpacing inflation and worker pay, with consumers collectively paying more than $5 billion for CEO compensation during that period."
"Bill Ferhman, the American Electric Power CEO, received the largest pay increase, with his compensation package spiking by $23 million, or 176%, to $36.6 million."
Utility CEOs in the US experienced a 16% increase in pay last year, averaging $12.3 million, despite consumers facing significant utility bill hikes. Utility prices have surged up to 40% since 2021, with 13 million power shutoffs reported. The Energy and Policy Institute found that 38 out of 51 top utility CEOs received raises, totaling $82 million, even when performance standards were not met. CEO compensation has risen 47% since 2017, surpassing inflation and worker pay, costing consumers over $5 billion in total.
Read at www.theguardian.com
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