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.[1] The company merged in 2012 with Constellation Energy.[2]
History
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.
Timeline
2000: The company purchases supply contracts for 20,000 customers from Keyspan Energy.
2001: The company moves its operations from Louisville, KY, to Annapolis Junction, MD, which now serves as the company's principal call center. Company purchases books of business from Summit Energy and Energy.com
2002: Company begins serving consumers behind Consumer Gas and Northern Indiana Public Service Company.
2003: Company completes asset purchase agreement with Nicor Gas in Indiana and Ohio and begins servicing customers in New Jersey.
2004: MXenergy purchases Total Gas & Electric, a subsidiary of Star Petro, and initiates its electricity supply business Company entered the Canadian market behind the Enbridge Natural Gas System in Ontario.
2005: Company enters the Rochester Gas & Electric market in New York.
2006: Company acquires Shell Energy Services Company and moves principle operations to Houston, TX.
2007: Company purchases customer contracts of Vantage Power Services and begins servicing customers of United Illuminating and Connecticut Light & Power.
2008: Company acquires Gaskey, a major supplier in the Georgia market.
2010: Company begins servicing customers in PPL, formerly known as Pennsylvania Power & Light, as well as PECO, formerly Philadelphia Electric Company, and Pacific Gas & Electric.
2011: Constellation, a supplier of power, natural gas and energy products and services for homes and businesses across the continental U.S., expands residential customer base and signs an agreement to acquire MXenergy.
2012: On June 1, 2012, MXenergy's name changed to Constellation. The company now supplies residential natural gas and/or electricity in 16 states and Washington DC including: Georgia, Texas, Ohio, Michigan, New York, New Jersey, Massachusetts, Connecticut, Nebraska, Kentucky, Indiana, Illinois, Pennsylvania, Maryland, Wyoming, Washington DC, and New Hampshire.
Controversies
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.[3] 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.[3][4]
Environmental record
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.
MXenergy offers carbon offset credits to its customers as a way to neutralize their carbon footprint. The credits support new forestry in Columbus, Georgia. The company is partnered with Valley Wood, Inc., a certified offset aggregator for the Chicago Climate Exchange.
Community service
MXenergy has sponsored two coat drives in 2010. The first was in January in Allentown, PA. Teaming up with WAEB 790 AM, WMHX 106.7 FM, and WODE 99.9 FM The HAWK, warm clothing and food were collected for The Rescue Mission, Jewish Family Service Food Bank, Kosher Food Pantry, and The Salvation Army in Allentown, as well as the Volunteers of American in Mechanicsburg.
MXenergy also teamed up with 95.9 FM The Fox for a coat drive in Norwalk, CT. The drive was meant to raise warm clothing and food for the Norwalk Emergency Center, but so many donations were received that a sizable donation was also made to the Community Closet in Bridgeport.
In 2009, James Boncek of Fairfield, CT began converting a $100 1993 Toyota Tercel from gasoline to battery power. With significant financial backing from MXenergy, this goal was achieved after 100 hours of research and 100 hours of labor. The car currently gets 50 miles per charge off its 12 batteries and can be plugged into any wall plug. Boncek currently speaks at schools about environmental sustainability.
References
- ↑ http://www.mxenergy.com/mxenergy-named-to-inc.-500-list-of-fastest-growing-companies-in-america
- ↑ "MXenergy is now Constellation". Constellation Energy. 2012.
- 1 2 "Attorney General Announces Settlement Worth $2.1 Million With Stamford Electricity Supplier". Connecticut Attorney General. 2009-06-23.
- ↑ "MXenergy Press Release – June 23, 2009". MXEnergy.com. Retrieved 28 April 2011.