Governor Kathy Hochul has ordered a statewide audit of executive salaries at major utility companies, aiming to ensure that compensation aligns with public interests. The Public Service Commission (PSC) approved the plan following her directive, reinforcing efforts to control rising utility costs and increase transparency.
The audit will review non-union management pay across 13 major utilities, including Con Edison and National Grid. Past audits revealed concerns over incentive structures rewarding financial performance over service quality. Findings will inform future rate cases to protect consumers from unfair hikes.
Governor Hochul has prioritized energy affordability, expanding assistance programs and securing over $1 billion in bill relief. Lawmakers support the audit, emphasizing the need for oversight to prevent customers from bearing the burden of inflated executive pay.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].