MXenergy Licensed as Authorized Marketer
in New Jersey

Stamford, CT, August 8, 2003 – MxEnergy Inc. has been licensed by the State of New Jersey’s Board of Public Utilities as an authorized supplier of natural gas.

According to Robi Artman-Hodge, MXenergy executive vice president, the company was notified by phone of the regulator’s action on August 7, 2003.   “We are delighted that the State of New Jersey has approved our application,” Ms. Artman-Hodge said.  “New Jersey brings to eight the number of states in which we are serving residential and small business owners with natural gas for home heating,” she said.

MXenergy delivers gas to customers in Illinois, Indiana, Kentucky, Maryland, Michigan, Ohio, and Pennsylvania. 

Jon Freedman, the company’s vice president of marketing, said that MXenergy plans to offer New Jersey residents a three-year flat price contract similar to its products in other states.  “We don’t have a crystal ball about the future of energy prices, and we suspect our customers do not either,” Mr. Freedman said.  “Our products help customers protect themselves from the volatility of energy prices.”

According to Mr. Freedman, the average customer pays MXenergy approximately $4.50/mcf or thousand cubic feet of gas, whereas utilities in the Midwest are now charging as much as $8.26/mcf.  “Nobody knows where prices are going but with international oil price shocks, unpredictable weather, and potential economic pressures, prices could easily return to their levels of last winter.” 

In March 2003, the price of natural gas soared to $11 on the New York Mercantile Exchange, the nation’s largest futures market for gas trading.

According to Ms. Artman-Hodge, the company has not decided which utility territory will be the “launchpad” for its New Jersey business.  “It appears that we can offer immediate savings to customers in Public Service Electric & Gas’ territory,” she said, “while at the same time providing long term protection from price spikes.”

Customers who wish to find out more about MXenergy’s price protection programs can enroll across the company’s web site, www.mxenergy.com or by calling the company’s toll-free number, 1-800-785-4373.