Chesterton Tribune                                                                                   Adv.

NIPSCO CEO gets pay raise

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MERRILLVILLE, Ind. (AP) ó The CEO of one of Indianaís biggest power companies saw his salary grow 31 percent to $1.9 million in 2010.

Northern Indiana Public Service Co. CEO Jimmy Statonís big salary boost came in a year in which he urged Indiana regulators to approve a rate hike for the utilityís customers to cover rising costs.

The Times of Munster reports that Statonís salary grew in 2010 mainly because of incentive payouts tied to his work on NIPSCOís rate cases before state regulators. Last year, NIPSCO won an order authorizing a nearly 17 percent increase in residential electric rates before later asking regulators for a smaller 7.9 percent increase.

Consumer advocates say the escalation of utility executive pay comes at a time when regulators and state government seem oblivious to consumersí rights.

 

 

Posted 4/11/2011

 

 

 

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