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Pepco CEO Joseph M. Rigby pulled in $11.4 million last year, an increase from the year prior, reports the Washington Times:

Pepco has been faulted repeatedly for dismal reliability and the electric company’s hundreds of thousands of customers have little choice but to go with the monopoly, yet its chief executive’s compensation package rose from $6.7 million in 2011 to $11.4 million last year, financial documents filed last week show.

Joseph M. Rigby’s base salary increased from $880,000 to $985,000 in 2012, but the bulk of the compensation came in the form of stock awards, which increased from $2.3 million to $4.7 million; incentive payments, which increased from $748,000 to $1.2 million, and pension and deferred compensation, which increased from $2.5 million to $4.2 million, according to a Securities and Exchange Commission filing. This year, Mr. Rigby will see another raise, with his base salary increasing to $1,015,000.

Despite reliability issues in recent years, last month Pepco asked the D.C. Public Service Commission to approve a $52 million rate increase, which would follow last September’s $24 million rate hike. The company has also been known for creatively employing the tax code to, well, not pay taxes.