"Last year, 51 electrical and gas utility companies in the U.S. paid their CEOs a collective $626 million, according to an analysis published last week by the Energy and Policy Institute."
"Between 2021 and 2025, electricity prices surged by 40% on average, the report found."
"A spokesperson with Pacific Gas & Electric stated that compensation is set to attract and retain the best talent, with performance reflected in pay."
"A Con Edison spokesperson mentioned that executive compensation is designed to attract and retain leadership required to operate complex energy systems."
In 2022, U.S. electrical and gas utility companies paid their CEOs a total of $626 million, marking a significant increase from previous years. Between 2017 and 2025, these CEOs received $5.2 billion in compensation. As utility prices surged by 40% from 2021 to 2025, lawmakers and consumers expressed concerns over affordability. Utilities requested $31 billion in rate hikes, affecting 81 million Americans. Utility companies justify high executive pay by emphasizing the need to attract top talent and performance-based compensation.
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