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Big pay raise for Pepco head in 2012

Friday - 4/5/2013, 10:44am  ET

John Aaron,

WASHINGTON - Pepco customers have long been frustrated by power outages that seem to happen too frequently and can stretch on for days. But that perception isn't keeping the company's leader from raking in big bucks.

The total compensation given to CEO Joseph Rigby amounted to $11.4 million in 2012, according to The Washington Times.

It marks a significant hike from the $6.7 million package Rigby got in 2011. That was the year Rigby gave up a salary increase amid mounting pressure from lawmakers and customers over Pepco's failures.

Rigby's base salary remained at $880,000 in 2011, before rising to $985,000 last year and $1,015,000 in 2013. The bulk of the CEO's earnings has come through stock awards, bonuses and deferred compensation, the Times reports.

In a statement to the Times, Pepco noted that its Board of Directors' Compensation Committee praised Rigby's leadership in helping the company to improve reliability.

The company also said outages related to feeders targeted in an improvement plan decreased in both frequency and length from 2011 to 2012.

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