Nonprofit N.Y. State Grid Operator Paid CEO Almost $1.4-Million

The nonprofit agency that manages New York state’s power grid paid its CEO $1.36-million in salary and benefits in 2009, the New York Post reports.

The New York Independent Service Operator also paid $377,000 to its board chair; more than $100,000 to five other directors, who work 14-hour weeks; and a collective $1.1-million in incentive bonuses to its top 22 executives, according to tax filings.

The organization manages high-voltage lines and oversees electricity sales to utilities such as Con Ed. Its revenue comes from fees paid by the utilities, which amounted to $139-million in 2009. Those fees are passed on to consumers through electricity bills, the Post writes.

A spokesman for the agency said it requires employees with energy expertise, for whom it must compete with private companies, and that its operations are “subject to rigorous oversight” by government regulators.