The utilities industry is a large sector that is an essential aspect of any healthy economy. The equities included in this industry range from gas and power companies to electricity providers. Essentially, it comes down to the companies that support the very infrastructure of any modern civilization.
Leaders of utilities are some of the highest paid, and many of these executives have been working for decades for their respective companies. Here’s some of the highest-paid executives in the utility sector as of 2019.
- The utility industry provides electricity, helping underpin modern infrastructure.
- Several executives in this industry are well paid, pulling in upwards of $10 to $20 million a year.
- NextEra Energy CEO James Robo is one of the highest-paid in the industry, pulling in $20.5 million in salary, bonuses, and stock/option awards.
Thomas Farrell II
Thomas F. Farrell II has been the CEO of Dominion Resources, Inc. (D) since 2006 and has worked at the company since 1995. He is one of the highest-paid executives in the utility sector, making roughly $15 million a year. His salary is roughly $1.5 million and $7.5 million in bonuses. The rest comes in the way of stock option awards.
Dominion is headquartered in Virginia and supplies natural gas to the surrounding states. It also owns additional facilities in the Midwest.
Coming in right below Rigby is Christopher Crane, the president and CEO of Exelon Corporation (EXC), a company based in Chicago. He is making roughly $13.9 million per year.
Crane has a base salary of around $1.2 million, supplemented by a bonus and stock awards, which comprise the majority of his income. The company is a national leading utility company that has operations in all 48 continental states. Crane has been in the industry for more than 25 years and with the company since 1998. He took over as CEO in 2012.
James Robo is the chairman and CEO of NextEra Energy (NEE), a top clean-energy company. He became president and CEO in July of 2012 and chairman of the board in December of 2013. Robo makes around $20.5 million a year. His base salary is $1.4 million, bringing in $14.2 million in stock and option awards. Before working at this company, he was the CEO of a division of GE Capital.
NextEra Energy has employees in 27 states and Canada and has its offices in Juno Beach, Fla. The company runs eight nuclear power plants in Florida, New Hampshire, Iowa, and Wisconsin. NextEra is well known for its commitment to sustainable energy.
Nicholas Akins is the chairman, president, and CEO of American Electric Power Co., Inc. (AEP). He is the 10th president, 6th CEO and 11th chairman in a company that has been around for 100 years.
Atkins makes around $12 million, with $1.4 million in salary and $2.9 million in bonuses. Akins was originally an electrical engineer and worked his way up to management. He has been in his current position since January 2011.