The five members of Santee Cooper’s executive team received a collective $86,565 salary boost effective May 1.

Of that amount, $29,982, or 34%, represents an increase to President and CEO Lonnie Carter’s salary as directed by the utility’s board of trustees, bringing his annual pay to $404,756.

Carter is the state’s second-highest-paid employee, behind only W. Stuart Smith, executive director of the Medical University Hospital Authority, who draws $431,570 annually. The pay increases represent a 4% raise for the entire executive team, said Laura Varn, vice president of corporate communications, though some received more as part of an “equity adjustment.” Carter’s pay went up 7.4%.

Combined, the utility executives are making about $1.52 million as of May 1. Santee Cooper’s board unanimously voted in favor of the pay raises April 25.

The pay increases were based on performance evaluations, Varn said. Earlier in the year, Carter reviewed and recommended salary adjustments for the four individuals serving under him and the board evaluated Carter and recommended his salary increase, she said.

Many of Santee Cooper’s rank-and-file employees also will receive pay raises up to 7% based on performance, Varn said. Santee Cooper is a publicly owned utility, but it is self-supporting and does not rely on tax dollars for operating expenses. Executives at publicly traded utilities typically make millions of dollars a year.

In 2007, SCANA President and CEO William Timmerman received a $1.04 million salary. Combined with benefits and stock options, he pulled down $3.8 million, according to SEC filings.

~ Molly Parker, staff writer

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