The Tennessee Valley Authority more than tripled the pay of its chief executive this year and will give its 12,000 employees bonuses averaging more than $6,900 each next week.
TVA President Tom Kilgore was paid a record high $3.6 million in the fiscal year ended Sept. 30, according to the annual report released Friday.
Overall, TVA more than met most of its annual performance standards, triggering the payment of $94 million of "Winning Performance" bonuses. Kilgore said fiscal 2010 was the utility's best in meeting performance goals since 2002.
The utility's 90 top executives will average more than $120,000 each as a reward. Nonexecutive employees will get checks averaging $6,917 each.