Tennessee Valley Authority ~ CEO Tom Kilgore...Big Raise !

TVA Raises CEO's Pay to $3.27 Million

Reported by: Associated Press Email:

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TVA Approves Huge Rate Increase That Will Affect Your MLGW Bill
MLGW Customers Affected by TVA Rate HikeEyewitness News
By ROSE FRENCH Associated Press Writer NASHVILLE, Tenn. (AP) --

The Tennessee Valley Authority board has approved increasing the utility chief executive's compensation by nearly a half million dollars.The increase comes a month after the largest power rate increase in three decades took effect.Meeting in Nashville, board members approved improving President and CEO Tom Kilgore's compensation from about $2.7 million to $3.27 million, effective with the next fiscal year.Kilgore's base salary of $650,000 has remained the same since he became CEO in 2006. He said after the meeting he would not decline the board's decision to raise it to $850,000. On Oct. 1, TVA put an effective 20 percent electricity rate increase into effect, raising the average residential monthly power bill by between $15.80 and $19.80.

Editorial : Poor Ole Tom, I do not see how he gets by ? It seems that not only CEO`S of Major Corporations get obscene pay amounts, but now the public sector is trying to catch up ! I have learned today that your rates will only increase by 15% instead of 20% ! The cheaper oil rates are the cause. I kinda believe that it was, because you the public turned up the heat on Ole Tom Kilgore CEO. Mr. Kilgore gets a half million more, you get 5% off !