EDMONTON - “Everyday Edmontonians are hurting after two years of living through this pandemic as the cost of everything skyrockets,” said Bradley Lafortune, Executive Director of Public Interest Alberta. “There is simply no reason for EPCOR – which is wholly owned by the City – to be paying its CEO north of $2 million dollars a year. At a time when frontline workers are getting wage freezes or layoffs, it’s absurd.”
“For far too long, Executive and Board salaries have ballooned at Epcor beyond what Edmontonians would consider reasonable,” said Lafortune. “At a time when wages remain frozen for cleaners, bus drivers and other frontline workers, Edmontonians deserve answers regarding the performance and compensation for EPCOR Executive and Board members. The City must conduct a fulsome and transparent compensation review to bring compensation to reasonable levels for the sake of the public interest.”
In 2020, the total compensation for EPCOR’s CEO was $2,226,209.00. The total compensation for its SVP and CFO was $1,016,110.00. The total compensation for its SVP, EPCOR Water USA was $1,125,645.00. The compensation includes base salary, incentives, pension valuation, and ‘other’ compensation. The details regarding this compensation can be found in publicly available documents on the SEDAR database here.
In 2017 the Province of Alberta, as a result of its agencies, boards and commissions compensation review, saved Albertans almost $16 million dollars. The Reform of Agencies Boards and Commisssions Compensation Regulation applied to new hires, re-appointments, and incumbents (after a two year period). The same general approach of review and compensation realignment could be taken at the City of Edmonton with the goal of bringing executive and board compensation in line with City of Edmonton Compensation for civil servants and elected officials.
“The City must conduct a fulsome and transparent compensation review to bring compensation to reasonable levels for the sake of the public interest,” said Lafortune. “Now more than ever, as people are wondering how they’re going to pay their power bills, Edmontonians are looking for trust in their public institutions and guarantees that compensation is fair and justified.”