Benefits for CEO
SSE chief’s pay rises 47% as energy prices soar
Energy company boss Alistair Phillips-Davies was handed a 47% hike in his pay package last year as consumers saw bills rocket.
The chief executive of Perth-based SSE was paid salary and benefits of £4.5 million, driven by a generous bonus scheme.
The FTSE 100 group, which has emerged as one of the UK’s biggest wind farm operators, has enjoyed soaring profits as prices have risen.
Mr Phillips-Davies was among those who criticised Chancellor Rishi Sunak over a proposed windfall tax on electricity companies which have benefited from high wholesale prices.
This wiped billions of pounds off the value of companies such as SSE, Drax and Centrica and even triggered criticism from the Labour Party which spent months pressuring the government for a windfall tax.
SSE has pledged to invest more than £24bn this decade in clean energy infrastructure in Britain.
An SSE spokesman said: “SSE’s remuneration policy was designed following extensive consultation with shareholders and supports the successful delivery of our net zero-focused strategy.”
National Grid boss John Pettigrew, saw his remuneration hit a record £6.5m in the 2021-22 financial year as the heads of Britain’s biggest utility companies have become some of the highest paid executives in Britain.
The chief executive of Water company Severn Trent has been paid nearly £4m. The total package of Liv Garfield rose in value by £830,000 last year. Perks and bonuses accounted for more than £3m of the total. In December, the company was fined £1.5m for illegally dumping 80,000 gallons of sewage into Worcestershire watercourses.