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