MXenergy
| Energy Retailer | |
| Industry | Energy |
| Founded | 1999 |
| Headquarters | Baltimore, Maryland, U.S. |
| Website | constellation.com |
MXenergy is a retail natural gas and electricity supplier in North America. It was founded in 1999 to provide natural gas and electricity in deregulated energy markets. In 2006, the company was named fourth on Inc. magazine's list of fastest growing private companies in America on the basis of revenue, 370th on the basis of growth rate. The company merged in 2012 with Constellation Energy.
MXenergy was founded in 1999 by Jeffrey Mayer, the company's current Chief Executive Officer and President; Robi Artman-Hodge, the company's first CFO and later its Executive Vice President until Spring 2010; and Daniel Burke, the company's first Chief Operating Officer.
The company's first office was in Louisville, KY. In 2000, the company opened an office in Stamford, CT for executive management, finance, and accounting.
In August 2008, the Connecticut Department of Public Utility Control (“CT-DPUC”) began an investigation of MXenergy that was later joined by the office of Richard Blumenthal, the then Connecticut Attorney General, and Connecticut Office of Consumer Counsel. The investigation followed complaints from customers who complained of high bills following the run-up of international energy prices in the spring of 2008. MXenergy customers who had enrolled in fixed prices for a four-month period in the spring found their prices jumped to higher monthly variable prices in June 2008.
After a lengthy investigation, the CT-DPUC issued a report that found among other things that the company had "massively overcharged" customers, and had given 30 days and not 45 days notice of price changes as required by state regulation. The CT-DPUC did not find any evidence of intentional customer protection violations. The CT-DPUC acknowledged that the company had voluntarily brought the matter to the regulators’ attention after it learned that it had inadvertently neglected to send out price change notices in a timely manner and that the company had voluntarily offered to extend its fixed prices, and agreed in a settlement to credit or refund $2.1 million to affected customers.
The company is a member of the Chicago Climate Exchange and is an Energy Star Partner placing a strong focus on environmental and sustainability issues. The company currently offers 100% renewable energy to its Connecticut customers.
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