updated 2/3/2011 4:15:31 AM ET 2011-02-03T09:15:31

STAMFORD, Conn., Feb. 2, 2011 (GLOBE NEWSWIRE) -- Spring is on the way! At least according to Punxsutawney Phil, the world famous weather prognasticating groundhog from Gobbler's Knob, Pennsylvania who made his prediction early this morning from his traditional tree stump. This happy news could not come at a better time as much of the nation is reeling from crippling storms that have covered the nation in heavy snow and ice .

According to the 125-year-old tradition, when Phil does not see his shadow then the nation can prepare for an early spring.   If Phil is accurate there is more than just warmer weather to celebrate but a stabilization of energy prices as well, according to MXenergy, one of the nation's leading independent energy providers.

"The grueling winter has lead to a larger than expected decrease in natural gas storage levels," says Blas Pina, Director of Natural Gas for MXenergy. "The brutal weather and decrease in supply has led to many predicting higher energy costs for homeowners. An early spring could offset those depletions and allow energy prices to hold stable, an occurance I know all Americans would appreciate."

While Phil's weather predictions are no guarantee of the spring forecast, the prediction of an early spring is unusual.

According to Mike Johnston, vice-president of the Punxsutawney Groundhog Club's Inner Circle, Phil only predicts an early spring on average of once every 10 years. "It's very unusual," Johnston said.

The February 2nd tradition of Groundhog's Day was brought to the United States by German immigrants and is now watched by thousands of people who make the trek to Gobbler's Knob each year.

About MXenergy

MXenergy is one of the fastest growing retail natural gas and electricity suppliers in North America, serving approximately 500,000 customers in 41 utility territories in the United States and Canada. For over 11 years, the company has provided millions of customers with a choice in how they purchase energy to run their homes and businesses.  Founded in 1999 to provide natural gas and electricity to consumers in deregulated energy markets. MXenergy helps residential customers and small business owners control their energy bills by providing both fixed and variable rate plans. MXenergy is committed to best practices in environmental conservation, supporting local communities through various outreach programs and is a member of the Chicago Climate Exchange.  For more information about MXenergy please visit www.mxenergy.com.

CONTACT: Marjorie Kass (203) 356-1318 ext. 7801
         Managing Director
         mkass@mxenergy.com
         
         Laurel O'Connor (209) 782-7212
         NorthStar Media Management LLC
         laurel@northstarmediamanagement.com

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