Average FPL worker earns more than $90K a year. Average Floridian? About $40K.by Dara Kam | October 22nd, 2009
Florida Power & Light Co. officials take the stand this morning to defend their proposed $1.2 billion rate hike before the Public Service Commission.
Yesterday, the Juno Beach-based utility knocked off about $53 million – less than 4 percent – from its original rate request.
Testimony yesterday also revealed that the company’s director of compensation had no idea what the average Floridian’s wage is although she’s in charge of ensuring that FPL wages are fair.
That’s not to say Slattery didn’t provide some brilliant answers regarding benchmarks of salaries in the utility industry, on which FPL bases its compensation.
The average annual salary of the utility’s 12,000 workers is more than $90,000 Kathleen Slattery told the panel.
The average Floridian’s wage is about $40,000, something Slattery did not know.
She also was unaware that state workers have not received a pay raise in three years.
But Slattery did tell the panel that FPL workers are scheduled to get between 2.4 percent and 3.4 percent pay hikes over the next two years.
That’s skewed because more than 440 FPL employees pull down more than $165,000.
And FPL and its parent company FPL Group have a dozen executives who earn more than $1 million – and one whose paycheck, including bonuses and fringe benefits, exceeds $10 million.
Today’s hearing started off with questions about FPL’s projected sales for next year.
Things are expected to heat up later today when company officials are grilled about charges that they stacked the deck at customer service hearings earlier this year.
Gov. Charlie Crist is also expected to name a new regulator today to take the place of former Commissioner Katrina McMurrian who quit with three months left in her term after Crist didn’t reappoint her.