The top five executives at city-owned Enmax all made more than $1 million each last year.

Gianna Manes was paid $1.9 million last year as CEO of City of Calgary-owned utility company Enmax. (www.duke-energy.com)

Numbers released at the company's annual general meeting on Thursday show CEO Gianna Manes topped the list, earning $1.9 million last year.

And she's on track for a $700,000 bonus this year.

Coun. Brian Pincott, who sits on the Enmax board of directors, says the executive compensation is performance-based and is in line with similar-sized companies.

"I have to say their compensation and where it sits in the marketplace is reviewed regularly by the board and fits bang right there in the middle."

Three years ago, Mayor Naheed Nenshi announced a 20-per cent salary rollback for senior executives at the power utility company following months of controversy over their pay and perks.

However, with performance bonuses, their annual compensation has now all exceeded earlier levels.

Enmax paid a dividend of $60 million to the city last year. But this year's share will be $56 million, down slightly because of reduced revenues.