Eversource CEO One of Top 10 Highest Paid Utility Earners in 2023

While many Americans saw their energy bills go up substantially in the past year, investor-owned electric and gas utilities and the country’s largest publicly owned utility paid their CEOs over $647 million in 2023, an increase of 9 percent over 2022, an analysis by the Energy and Policy Institute has found.

Eversource’s CEO, Joseph Nolan, was the 9th highest paid utility CEO in 2023, making $18,885,577. During this time, while utility CEOs raked in millions of dollars, Eversource, along with other utility companies, disconnected thousands of customers for being unable to pay their monthly bills.

In 2023, Eversource disconnected 49,170 customers.

According to a report from the Center for Biological Diversity and the Energy and Policy Institute, utility disconnections have grown into an acute national crisis.

Households had their electric power shut off more than 1.5 million times in the first 10 months of 2022, a 29% increase over the same period in the previous year. In that same period, households were also disconnected from gas more than 380,000 times, a 76% increase over 2021. Utility customers struggling to pay their energy bills to avoid disconnection may accrue debt and forgo other key expenses such as food and use space heaters or even ovens to warm their homes.

This high executive compensation amidst customer financial strain is unfair especially when the company raises their rates and cuts off service. These companies provide essential services and have an ethical responsibility to ensure their customers are able to afford basic necessities, such as heat. Balancing fair compensation for executives with the needs and well-being of customers is crucial for the long-term success of any company.

If you need help paying your electric bill, click here, or visit Eversource.com/billhelp or you can call 800-286-2828.