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THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING

Utility boss has great gig

By Brian McGrory
Globe Columnist / November 2, 2011

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You probably don’t know Tom May. He’s the chairman, chief executive, and president of NStar, one of the state’s two major power companies, and, by sheer coincidence, my electric company. He’s an accountant who quietly slipped into the corner office in the early 1990s and never left. We think he’s still in there, but no ratepayer has seen him since this latest storm struck. So I wondered, how much could a CEO possibly be worth in a regulated industry, where the territories are set by the state, where they sell electricity to customers who have no other choice, and where salaries come out of the pockets of the average, everyday people who pay the rates. The answer filled the screen of my rapidly draining iPad: $7.9 million.

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