Off Peak

Fortnightly Magazine - March 1 1996
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Fee Simple? Utility Board Directors Get Less Than Peers

Reuters Events – Energy Transition North America 2022 – #ETNA2022 – Register Now – Houston, Texas; November 9–10

How do fees for utility board directors match up to those at other companies? Not too shabbily, as the following data show, but on the whole more modestly.

The Spencer Stuart SSBI Survey traced Board trends, based on proxy data, at 100 of the nation's leading publicly held corporations. The companion UI Survey focused on Board compensation at the 50 largest publicly owned utilities.

For 1994, UI Boards paid directors annual retainers ranging from a high of $30,000 to a low of $6,000, with an average of $19,000. SSBI Boards averaged $30,000, with a high of $70,000 and a low of $17,000.

Forty-eight of the 50 UI Boards paid a meeting attendance fee in addition to the annual retainer. These fees ranged from $1,800 to $250, with an average fee of almost $1,000 for UI Boards. Eighty-eight of the 100 SSBI Boards paid a median fee of $1,000, with fees ranging from $2,500 to $500. Slightly over 40 percent of the SSBI Boards pay a $1,000 fee versus 46 percent of UI Boards.

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