MXenergy enters commercial and residential electricity market in Connecticut, will offer fixed, variable rate plans in June to United Illuminating customers

By Harold Davis

Stamford Advocate

Special Correspondent

May 8, 2007

Stamford-based MXenergy has been given the go-ahead to market electricity to commercial and residential consumers in Connecticut. The electric supplier was recently licensed by the state Department of Public Utility Control.

MXenergy anticipates marketing fixed and variable rate plans for consumers by next month.

It will serve the United Illuminating Co. delivery area, which includes Ansonia, Bridgeport, Derby, East Haven, Easton, Fairfield, Hamden, Milford, New Haven, North Branford, North Haven, Orange, Shelton, Stratford, Trumbull, West Haven and Woodbridge.

"We've come home. It's good to be in our own backyard. The irony is that we've been marketing to British Columbia to Texas and Florida, but have not been active in Connecticut," said Jeffrey Mayer, MXenergy's president and chief executive officer.

Founded in 1999, MXenergy offers electricity and natural gas in deregulated energy markets to about 500,000 customers in 32 utility territories in the United States and Canada.

"Until January 2007, utility prices were capped. In January, because of deregulation, we can now offer price protection. We buy our electricity in advance and lock in the price and pass that benefit to customers," Mayer said.

Beryl Lyons, spokeswoman for the DPUC, said there are many suppliers entering the market in Connecticut. She said that the licensing process only takes about a few months.

"They have to meet technical requirements and not have been fined for customer service violations," Lyon said.

Besides MXenergy, Norwalk-based Levco Energy is the only other competitor for the state's major utilities in providing service for both residential and commercial customers.

Lyon said that more companies are focusing on commercial, industrial and municipal markets rather than residential as there is more money there.