Excessive pay in energy sector
According to new research from Ethical Consumer, 5 out of the top 6 UK energy providers paid their directors in excess of £million during 2011, while millions of customers experienced raising energy bills.
The research found that:
- EDF Chairman and CEO Henri Proglio was paid a salary of €1,560,528.
- Centrica Plc paid Sam Laidlow £1,292,000 and Chris Weston £1,070,000.
- E.ON Plc paid the most to its directors stating that in 2011 highest paid director was awarded £2,054,948.
- The Co-operative Group paid CEO Peter Marks £1,661,000 in remuneration.
- SSE stated that Ian Marchant had been paid £1,182,000 year ending March 2012.
Ethical Consumer considered annual remuneration over £1 million to be excessive and each company lost half a mark in the anti-social finance category.
This research was conducted as part of a product guide to green electricity tarrifs due out later this month.
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