Company Gets Fine, CEO Gets Raise

Jan. 5, 2012 – The power company serving the Washington, D.C. area, Pepco, received a $1 million fine, the largest the State of Maryland ever hit a corporation with. The state’s conclusion was, “The evidence in this proceeding demonstrates conclusively that Pepco has been operating at an unacceptably low level of reliability for several years.”

“Pepco has made deliberate choices to allow its system to degrade,” in the opinion of Roger Berliner, Montgomery County council president, according to Robert McCartney, a local columnist in the Washington Post.

The company awarded their CEO, Joseph M. Rigby, a new, $6 million pay package which includes salary and stock, That does not include the bonuses Rigby will also earn.

“There’s every reason to think that from the perspective of Pepco’s board of directors, Rigby’s real error was getting caught,” wrote McCartney.

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