Contact: Pamela Fink
203.356.1318 x 7454
pfink@mxenergy.com
 
MXenergy Auctions off Electricity in Cyberspace
United Illuminating Customers Can Bid Online for Power

STAMFORD, Conn. – Dec. 6, 2007 – The cost of electricity -- like the weather -- is something people often discuss but never do anything about.  For the first time, however, a select group of Connecticut consumers can take matters into their own hands and can set their own price for power from MXenergy using the online auction site eBay.

MXenergy will accept the highest bid on a megawatt (1,000 kilowatt hours) of electricity and divide it by 1,000 to determine the rate at which the winner can purchase electricity (up to 10 megawatts over a 12-month period) after signing up with MXenergy. The offer is available only to bidders who live in the United Illuminating market, which serves customers in 17 municipalities from Fairfield to North Branford and north to Hamden.

“An average household uses approximately 10 megawatts per year,” explained MXenergy President and Chief Executive Officer Jeffrey Mayer, “and with this online auction, we have ‘empowered’ bidders to set their own rate for electricity and help manage their energy costs.”

A recent MXenergy survey found that nearly three-quarters of American homeowners are concerned that home energy costs will strain their household finances over the next year.  And while energy costs are a great concern to Americans, the research also discovered only 30 percent of Americans understand how home energy prices are set and 90 percent feel they have limited or no control over their home energy costs.

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