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A lot depending on what you mean by utility vs. supermajor.  There's guys at COMED (fully regulated owned by Exelon), Constellation (marketer owned by Exelon), NRG (competitive retailer/marketer), FPL (regulated owned by NextEra), NextEra Energy (competitive arm).  Not to mentioned the bp/shell/Vitol/Trafi/Freepoint/etc. guys.  I suppose the most generic answer to your question comes down to level a risk allowed: more risk -> more pay.  Risk levels are roughly (though can vary widely by shop): regulated utility un-regulated arm of utility competitive retailer competitive wholesale marketer/trader.  Somewhere on that spectrum is also IPPs but that varies widely mostly based upon ownership structure, size, asset type, asset financing arrangements.

 

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