CEOs of US’s top energy firms received average pay raise of $12.3m, review finds

Chief executives of major U.S. energy companies saw their average compensation increase by 16% last year, reaching approximately $12.3 million. This pay raise occurred while many consumers are experiencing significant increases in their utility bills, with some regions reporting hikes of up to 40% since 2021. Additionally, national data indicates that utility providers disconnected power to 13 million customers last year. These financial trends for executives are unfolding against a backdrop of rising energy costs influenced by inflation, geopolitical conflicts, and increased demand from sectors like data centers.

This situation highlights a growing disparity between executive compensation in the energy sector and the financial burdens faced by consumers struggling with high utility costs.