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Saturday, April 06, 2013

Pepco CEO Made $11.4 Million In 2012 Despite Utility’s Spotty Record

Pepco has been faulted repeatedly for dismal reliability and the electric company’s hundreds of thousands of customers have little choice but to go with the monopoly, yet its chief executive’s compensation package rose from $6.7 million in 2011 to $11.4 million last year, financial documents filed last week show.

Joseph M. Rigby’s base salary increased from $880,000 to $985,000 in 2012, but the bulk of the compensation came in the form of stock awards, which increased from $2.3 million to $4.7 million; incentive payments, which increased from $748,000 to $1.2 million, and pension and deferred compensation, which increased from $2.5 million to $4.2 million, according to a Securities and Exchange Commission filing. This year, Mr. Rigby will see another raise, with his base salary increasing to $1,015,000.

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11 comments:

FED UP said...

YEAH AND EVERY FREAKING YEAR THEY WANT A INCREASE......GET SOLAR BECAUSE ITS ONLY GOING TO GET WORSE,JUST LIKE GASOLINE.

Anonymous said...

And they want a 22 million dollar increase approved??

NO WAY!

Anonymous said...

9:16 Just forget it and pay your bill. The Democrats will tell you what you can spend, what you can earn, and what you can save. Quit being a cry baby and vote for Obama and O'Malley again. Solar will never work because the utility companies can't put a meter on it. Don't forget DP&L is a private company, owned by stockholders. You were done before you even made that statement.

Anonymous said...

Or move to FL. Electric is a lot cheaper, no heating bills, no income tax and oh yeah you can keep your guns without registering them or pay a fee to buy a handgun.

Anonymous said...

1049 Know your facts, If you have solar your meter will slow down or Actually go Backwards .....So get Edumacated FoOL.

Alex said...

Or work hard, go to school and become a CEO one day. Stop b!tching.

Anonymous said...

They want an increase so he can get his raise. No man is worth that kind of money. Let every employee of this company quit, and lets see how good he really is running the company. CEO's are paid too much money on the back of good workers trying to pay theirs bills. Then they want to cut the employee hours, benefits and raises.

Anonymous said...

already outrageous profits. No new rise in fees!

Anonymous said...

Andy In O..C. says:

Unlike you Alex, most of us possess morals, character, and integrity and wouldn't want this shyster's job.
What is your profession Alex?

Anonymous said...

Good solution Alex. Now if everyone was a CEO. Who works in the company that the CEO runs. Who will fix your car? Who will build your house? Who will sell you either groceries or fix your meals?

Anonymous said...

This makes it clear they need a rate hike badly! Otherwise, they may not have the cash to retire this guy's successor!