Controversial executive compensation

Constellation Energy Group

Despite laying off hundreds of employees, cutting its stockholder dividend, and raising rates for its customers, the Baltimore-based utility announced plans to pay $32 million in incentives to senior managers following its acquisition by a French utility.

The bonuses provoked outrage by Maryland officials, and some have called for the deregulation of the utility industry.

Amid mounting public pressure, the company decided to cancel the bonuses.

(AP File Photo/Florida Power & Light Company)
Constellation Energy Group Despite laying off hundreds of employees, cutting its stockholder dividend, and raising rates for its customers, the Baltimore-based utility announced plans to pay $32 million in incentives to senior managers following its acquisition by a French utility. The bonuses provoked outrage by Maryland officials, and some have called for the deregulation of the utility industry. Amid mounting public pressure, the company decided to cancel the bonuses .