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The high price of energy is driving bids higher yet in a Connecticut electricity supplier’s unusual eBay auction.

MXEnergy, one of several electricity suppliers in the state’s deregulated market, is offering homeowners and small businesses electricity rates that are locked in, similar to power purchases by large commercial and industrial customers.

To promote its business among United Illuminating’s 320,000 customers, the Stamford-based MXEnergy is auctioning off 1 megawatt of electricity to the highest bidder before Dec. 13. As of Friday afternoon, the highest of 18 bid’s was $132.50.

MXenergy will accept the highest bid on a megawatt, or 1,000 kilowatts, of electricity and divide it by 1,000 to determine the rate at which the winner can purchase up to 10 megawatts in a year after signing up with MXenergy.

MXenergy serves 500,000 gas and electricity customers in the Northeast, Midwest, several southern states and the Canadian provinces of Ontario and British Columbia.

Photo by eBay.

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Originally posted by Rich Whittle on December 10, 2007 in Ideas.


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