Business & Tech
Eversource CEO Tom May Awarded $1M+ Raise; Some Customers Awarded 29 Percent Rate Hike
The company defended the raise, saying he built a "strong management team."
Eversource CEO Tom May earned a $1.3 million pay raise last year while some customers prepare for a 29 percent rate hike.
The Boston Globe’s Jon Chesto reported May earned about $9 million in 2014—up from $7.7 million the year before.
“He has assembled one of the strongest management teams in the utility industry and is recognized for his strong management skills in that regard, therefore his compensation reflects that,” an Eversource spokesperson told the Globe.
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May’s raise came as the company hiked electric rates 29 percent for some customers, citing constraints on natural gas pipelines. However, it also cut natural gas rates 11 percent for other customers.
Eversource serves customers in Massachusetts, New Hampshire, and Connecticut. Its territory includes Lexington.
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Photo: Tom May. (Credit: Eversource)
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