Riverway Power attempted to declare bankruptcy as a way to keep their existing Texas electric service customers to reorganize and start over again. The Public Utility Commission of Texas asked them if they would be going ahead with the bankruptcy filing and the owner of Riverway Power said, “no we will not be able to declare bankruptcy.” For whatever reason, Riverway Power lawyers advised them to not go ahead with bankruptcy. Because Riverway will remain in business without filing bankruptcy they will have all of their customers transferred to the provider of last resort by the Texas state government.
If you are a Riverway Power customer you need to know a few things about this issue. If things occur as they have with National Power company who also had their customers transferred to the POLR rate you may lose your deposit with Riverway Power. Not only will you potentially lose your deposit but you will be put on the POLR rate which could be anywhere from 22 – 30 cents kWh depending on the area you live in. The POLR rate is something you want to get off ASAP as the rate is double and triple what you can get elsewhere.
Low Cost Reputable Electric Provider
If your in the Houston area Affordable Energy has the best 12 month fixed residential rate as of June 2008
If you are in the Dallas Fort Worth area and other areas you can sign up with Startex Power at one of the lowest rates out there right now. We no longer recommend Startex Power at this time.