MxEnergy

About MxEnergy

Founded in 1999, MxEnergy carved out a significant niche as a retail supplier of natural gas and electricity in the deregulated energy markets of North America. The company was established to provide residential and small business customers with a choice in their energy procurement, capitalizing on the shift away from traditional utility monopolies. One of the co-founders, Jeffrey Mayer, served as the company's President and CEO, becoming a vocal commentator on industry matters.

MxEnergy's business model centered on acquiring customers in 41 utility territories across 15 states and two Canadian provinces, offering them alternative energy purchasing plans. The company provided both fixed and variable-rate plans, enabling clients to manage and control their energy expenditures. Beyond standard energy supply, MxEnergy diversified its offerings to include renewable energy products and carbon offsets, demonstrating a commitment to environmental considerations. To engage customers and reduce attrition in a competitive market, the firm launched initiatives like MXenergyTV, an On-Demand cable channel focused on sustainability and green living topics.

The company demonstrated substantial growth, at one point being named one of the fastest-growing companies in the U.S. Its operations were headquartered in Stamford, Connecticut, with a major operational office in Houston, Texas. This successful trajectory attracted significant attention and investment from private equity firms, including Denham Capital Management, Charterhouse Group, and Sempra Energy Trading. In July 2011, Constellation Energy acquired MxEnergy for approximately $175 million, a strategic move to double its residential customer base and expand its footprint in the mass market. At the time of the acquisition, MxEnergy served around 540,000 customers and employed over 200 people.