With a history of energy entrepreneurship spanning five generations, Energy CX’s founders are carrying on a family legacy aimed at transforming the way people view energy.
Founded in Chicago in 2010, Ellen Rice and her husband, Mark, saw an opportunity to address critical gaps in the energy procurement industry. As Illinois is one of many U.S. states with deregulated energy — where consumers are able to choose their energy supplier — Energy CX offers a dynamic and customer-centric approach to shopping for energy in today’s market.
This husband-and-wife team used their complementary strengths and the entrepreneurial spirit they shared to build an energy company that prioritizes transparency, customer service and data-driven solutions to modern problems. Inspired by Warren Buffett, who once described energy deregulation as a milestone of economic shift, they founded Energy CX as an innovative agent in a rapidly evolving industry. The company’s focus on improving the overall customer experience proved to be the defining driver of Energy CX’s mission and earliest success.
Like many businesses in their earliest days, Rice found herself working long, tireless days while performing the functions of five roles at once. With a true passion for their mission fueling her resolve, Rice leaned into these challenges with the surety that it would all be worth it.
“Every day brought new challenges, but fear was never an option,” said Rice.
Fifteen years later, Rice’s passion and effort are visible in the team that she has helped to cultivate at Energy CX — including the continuation of the family legacy as her children take over company management. Looking back, there is much to learn about the inspiration, work and smart ideas that gave this company its start. Built In spoke with Rice to hear about the story behind Energy CX’s founding in her own words.
What prompted you to start Energy CX?
Our family has been involved in energy entrepreneurship for five generations, so I’ve always understood how important energy is. When I noticed the lack of innovation in Chicago’s energy space, it really stood out to me. We saw an opportunity for change in the industry — a niche that wasn’t being addressed — and decided to jump on it while it was still fresh.
To whom did you look for inspiration early on?
I co-founded the company with my husband, Mark, who has always been an entrepreneur with a forward-thinking mindset. Together, we recognized a major gap in what other energy brokers were offering their customers and saw an opportunity to do better. Mark’s vision and drive inspired me to turn our ideas into reality.
What scared you the most during your first few years as a founder?
I was never afraid because I knew what we were building would be transformative for the industry, and I was fully committed to making it happen. When we started the company, I was working 90-hour weeks and juggling five different roles within the business. It was challenging at times, but we loved and believed in what we were doing and knew it would be worth it. Our passion for the mission gave us confidence in ourselves.
“It was challenging at times, but we loved and believed in what we were doing and knew it would be worth it. Our passion for the mission gave us confidence in ourselves.”
Were there any moments when you felt like giving up? If so, what pushed you to keep going?
I never felt like giving up. There were always so many areas in the industry that needed improvement, and I was committed to making a difference. From my experience working at other companies, I saw the gaps and shortcomings firsthand, and I was driven to correct the mistakes and missed opportunities that were holding customers back. We knew customers deserved better — a broker who truly cared about them and their needs. That’s why we focused on delivering a better experience, adding services that other companies didn’t have the time, knowledge or willingness to offer.
Our goal was to go above and beyond what competitors were doing, ensuring our customers always felt supported and valued. We viewed challenges as opportunities and believed that a business owner’s true measure comes from how they respond to adversity — not just when things are going smoothly.
What’s next?
We’re transforming the way the industry approaches energy purchasing. Our goal is to become the most recognized name in the energy brokerage space while maintaining strong, personal relationships with both our customers and employees. We aim to provide services that give business owners greater clarity and control over their energy decisions, changing the way people think about energy. Our focus is on delivering exceptional value, continuously improving and setting new standards for the industry.
In nearly every industry, there’s a dominant player that redefines and leads the market. In the energy brokerage world, that leader doesn’t exist yet, but we’re determined to fill that role and guide the energy transition.
Is there anything else you’d like to share about Energy CX?
It’s incredible to see how far the company has come — from serving our very first customer to where we are today. The changes in the industry since we started have been remarkable, especially the technological advancements that have reshaped the way we work. Watching our team grow and adding so many talented individuals has been deeply rewarding.
It’s exciting to see the vision I had 15 years ago come to life and evolve, especially now with my kids taking over management and carrying our mission forward. I’m proud of my family’s accomplishments and grateful for the contributions of everyone we work with. While we’re a family business, I consider everyone at Energy CX to be part of our extended family. We’re excited to play a significant role in leading the energy transformation and to see what the future holds.
