Enmax CEO compensation tops $3M for 2023

CBC
·1-min read
Figures released Friday show Enmax CEO Mark Poweska, centre, received over $3 million in compensation from the city-owned utility in 2023. He is shown speaking at the utility's annual general meeting on Friday with Calgary Mayor Jyoti Gondek seated on the left, and Enmax board chair Charles Ruigrok on the right. (Scott Dippel/CBC - image credit)
Figures released Friday show Enmax CEO Mark Poweska, centre, received over $3 million in compensation from the city-owned utility in 2023. He is shown speaking at the utility's annual general meeting on Friday with Calgary Mayor Jyoti Gondek seated on the left, and Enmax board chair Charles Ruigrok on the right. (Scott Dippel/CBC - image credit)

Figures released Friday show Enmax paid its CEO a record amount last year.

Mark Poweska was named CEO in September 2022, so last year was his first full year in the position. His total compensation, which includes salary and bonuses, topped $3.1 million. That compares with $1.7 million in 2022.

The figures were included in the Enmax 2023 annual report, which was released Friday at the utility's annual general meeting.

The Enmax annual report shows CEO Mark Poweska received just over $3.1 million in salary and benefits during 2023.
The Enmax annual report shows CEO Mark Poweska received just over $3.1 million in salary and benefits during 2023.

The Enmax annual report shows CEO Mark Poweska received just over $3.1 million in salary and benefits during 2023. (Enmax)

The chair of Enmax's board, Charles Ruigrok, says the city-owned utility does an annual comparison of its executive pay with other companies in the industry.

He says Enmax compensation levels are in line with other companies, but last year, executive pay increased everywhere.

"I think you're seeing compensation go up across the board, not only in our industry. I think you're seeing it in every sector in Alberta," Ruigrok told CBC News.

"So what you're seeing is very consistent with what's happening throughout our industry and elsewhere."

Calgary Mayor Jyoti Gondek says she knows an annual analysis is done on executive pay and the city is interested in ensuring it can attract and retain top talent for Enmax, which is the city's biggest asset.

"Making sure that you've got people in place who know what they're doing is a significant thing when you're a shareholder, so I trust that the competitive intelligence has been done and the compensation is set accordingly," Gondek said.

Last year's compensation report shows four other Enmax senior executives were paid more than $1 million last year.

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