Power executives rake in big bonuses: documents
Posted May 11, 2012 06:57:51 AM.
This article is more than 5 years old.
Nova Scotia Power executives received substantial pay hikes last year, according to documents released only days after the company announced it will seek rate increases in 2013 and 2014.
Chris Huskilson, CEO of Emera, Nova Scotia Power’s parent company, made an extra $122,000 in 2011 compared to the previous year. That represents a 20 per cent boost to his base pay.
In total, Huskilson earned $2.99 million in salary and benefits.
Nancy Tower, Emera’s executive vice-president, earned $1.4 million, and Nova Scotia Power CEO Rob Bennett took home $1.1 million.
This week the company announced it will ask the Utility and Review Board for a three per cent rate hike in each of the next two years.
Provincial opposition parties were fuming Thursday over news of the big bonuses and hikes – particularly in light of the pending rate hikes.
“This is completely unacceptable,” said Liberal Leader Stephen McNeil. “It’s time that we force a performance value audit of this company to make sure that they’re making the tough decisions they have to make, before they ever come back and ask Nova Scotians for more money.”
PC Leader Jaimie Baillie agreed.
“Nova Scotians are reasonable people,” he said. “They want to know that people are paid fairly. But at a time when our disposable incomes are going down, to know that not only are our power rates skyrocketing, but so are executive salaries, it’s going to be a bitter pill to swallow.”
Premier Darrell Dexter says he hopes the company acts responsibly.
“I think it’s important that the administrative costs be kept down and be kept as reasonable as possible,” Dexter said, pointing out that the UARB can consider salaries as part of the rate hike application.
Some ratepayers are also demanding action over the incessant rate hikes and big salary increases.
Port Hawksbury resident Archie Stewart tells News 95.7 he’s launched an online petition asking the government to intervene and tighten the reins on Nova Scotia Power.
“I think finally Nova Scotians are peeved off enough that the government’s going to have no choice but to listen to us this time,” he said. “Any increase to current residential rates is pure greed and usury on the part of Nova Scotia Power and its shareholders.”
So far, the petition has garnered more than 5,000 signatures.
The UARB will examine Nova Scotia Power’s rate hike request in public hearings set for Sept. 13 and 18.
