Mark Poweska, who became CEO of Enmax in September 2022, saw his total compensation exceed $3.1 million in his first full year in the role. This marks a significant increase from the $1.7 million he earned in 2022. These details were disclosed in Enmax’s 2023 annual report, unveiled during the utility’s annual general meeting on Friday. The report also revealed that four other senior executives at Enmax received over $1 million in compensation last year.
Charles Ruigrok, Chair of Enmax’s board, noted that the utility conducts an annual review of its executive pay, comparing it with other companies in the industry. He explained that executive compensation has risen across the board, not just within the utility sector but across all sectors in Alberta, aligning Enmax’s pay levels with industry standards.
Ruigrok emphasized the consistency of these increases, reflecting broader trends in the labor market. Calgary Mayor Jyoti Gondek highlighted the importance of competitive compensation in attracting and retaining top talent, given Enmax’s status as the city’s largest asset. She expressed confidence in the thoroughness of the annual compensation analysis.
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