Energy Giants Are Rewarding CEOs With Millions While Shutting Off Power to Struggling Families

Something deeply troubling is happening inside America’s energy sector, and it directly affects the bills landing in your mailbox every month. While families across the country are stretching budgets to keep the lights on, the executives running the nation’s largest utility companies are collecting compensation packages that grew by nearly 16% in a single year, reaching an average of $12.3 million each.

According to the Energy and Policy Institute, a review of industry financial records revealed that 38 out of 51 top utility CEOs received pay raises in 2025, collectively adding up to $82 million. That same year, utilities cut off power to customers 13 million times nationwide. In some regions, energy bills have climbed as much as 40% since 2021, squeezing households that already have no alternative supplier to turn to, since many of these companies operate as regulated monopolies.

The disconnect between executive reward and customer reality is staggering. Bill Ferhman of American Electric Power saw his compensation surge 176% to $36.6 million, even as his company shut off service to customers 173,000 times. At other utilities, executives received bonuses after companies quietly lowered their own performance thresholds, making it easier to claim success while climate goals, reliability targets, and customer satisfaction metrics quietly took a back seat to profit margins.

What makes this especially urgent is the structure propping it all up. Because most utilities face no real competition, customers cannot vote with their wallets. Oversight falls to state commissions staffed largely by political appointees, creating an environment where accountability is rare. Meanwhile, since 2017, utility CEO pay has risen 47% on average, far outpacing both inflation and the wages of everyday workers. Customers of the examined companies collectively paid over $5 billion toward executive compensation during that period.

The good news is that change is possible. Maryland recently passed a law capping how much of a customer’s rates can go toward CEO pay, and advocacy groups are pushing similar protections in other states. Staying informed, supporting sustainability minded energy policy, and contacting your state utility commission are real ways to push back. Your health, your budget, and a livable future for this planet are worth fighting for.

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