PG&E Executives Get Raises As Customer Rates Soar

SACRAMENTO (CBS13) — While PG&E has been raising rates on its customers, it’s also been raising the salaries of its top executives.

The new revelation has many PG&E customers upset and questioning the company’s decision to award millions of dollars in salaries with perks that apparently come with the job, while customers struggle with skyrocketing bills.

Customers were facing bills that doubled and tripled, leaving them worried they wouldn’t be able to pay. Now that fear has turned to fury after company filings show top PG&E executives raked in big bucks in 2016.

Current CEO Geisha Williams was earning $4.2 million in salary and perks even before her promotion

Mindy Spatt with the consumer advocacy group TURN says some of the compensation is funded through shareholders, but most of it falls on customers.

“We’re not sure why these executives are being rewarded,” she said. “Even if PG&E was a really good company, these salaries would be excessive.”

Outgoing CEO Anthony Early earned nearly $12 million in compensation, including a 9 percent pay raise. PG&E President of Gas Operations Nick Stavrapolous took in nearly $4 million with a similar raise.

And on top of her salary, Williams received $20,000 for transportation $8,000 to help manage her money.

Margaretta Mitchell saw soaring prices this year, with her winter bill hitting the $700 mark. She doesn’t think she should pay more to pad the pockets of PG&E executives, noting 2016 wasn’t exactly a banner year for the utility. In 2016, the company was on trial and found guilty of negligence in the 2010 San Bruno pipeline explosion that killed eight people.

The utility insists the compensation is fair and is typical of salaries of similar positions at other private utility companies.

Comments

One Comment

  1. My grandfather worked for them, along with my father’s younger brother. They’re turning over in their graves. This company has gone from great to corrupt along with out government.

  2. People at that wealth level are likely to rent a Nevada house or apartment, and declare that as their residence to avoid state income taxes.
    To keep up the sham, they will also register their cars in Nevada. And maybe once a month,
    “go home” to generate a bunch of Nevada debit card charges on their bank statement.

  3. Things are different now, after the Public Utilities Commission stopped doing its job to keep these monsters under control.

  4. Every percentage point of a rate hike proposal, should be matched with DOUBLE-the-percentage pay cut for executives.
    Want to raise my rates by 8 percent, then your own pay gets cut by 16 percent.

  5. And PGE was recently found to be responsible for the major fire in Amador and Calaveras County. The cost to the utility will be amazing. Watch for rate increases for that payout, also.

  6. Dana Celeste says:

    There are medical reasons that qualify in reducing your energy bill directly through PG&E. Some of the reasons are cancer treatment (even past cancer treatment). Medical equipment qualifies as well. I just wrote this blog, and it seems timely: https://www.flowsacramento.com/single-post/2016/05/09/How-to-Lower-Your-Energy-Bill

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