Riverway Power Electric Company

June 6th 2008 Riverway files for Bankruptcy! 4 Electric Providers Gone this Summer

Riverway over the last few months sold electric prices way below the market price most energy providers in Texas were pricing at. The prices looked a little too good to be true and sure enough all they were doing is buying their electricity on the MCPE market without hedging their investment and selling it as a fixed rate. Riverway was a provider just like National Power who tried to pass the loss in investment when rates went up to their fixed rate customers. The point to a fixed rate is that you are buying hedged energy that cannot go up. Riverway was selling unhedged energy and like rolling the dice that the market would not go upside down on them, they lost that bet. The PUCT would not let them pass on the cost to the customer and they had to eat that loss. Like 3 other electric companies that went out of business under similar circumstances, Riverway Power is another down by bad risk management.

Riverway Power is also known as Sure Electric, LLC and is a retail electric provider operating in Houston Texas. The electric company is managed by seasoned Texas electric company professionals who have been a part of the deregulation process in Texas since 2002. Riverway Power is working to expand beyond Texas to 17 other deregulated states throughout the United States.

Update on Riverway Power Electric Provider

James wrote in that Riverway Power recently canceled his 1 year fixed electric rate contract due to natural gas price increases. Many do not know this but most of the electricity in Texas is generated using natural gas. When a Texas electric company like Riverway Power buys your energy they buy the commodity natural gas. If they do not buy and hedge the commodities they sell as electricity carefully, they have to cancel their energy agreements or go bankrupt. If your energy contract was not honored with Riverway Power please feel free to let us know by commenting below so we can warn others.

Monty wrote on April 19th, 2008 at 11:47 am about Riverway Power, “They just canceled my contract. This was very upsetting as it is a pain in the rear to switch power providers and then they pull a bait and switch on you.”

What Should I Do, I No Longer Have an Electric Company?

If you were a Riverway Power customer you have been switched to the POLR company or the Provider of Last Resort. This is a back up plan where the Texas state government moves you to a new provider so you will not be without service. The POLR rate is very high, somewhere around 22 – 30 cents kWh depending on your location. You want to pick a competitive Texas electric provider ASAP! We have some discount 12 month fixed rate offers below. Bounce Energy has several different fixed rate plans in our comparison chart and Trieagle Energy follows close by and has several different fixed rate terms. Both of these Texas Power companies are reputable electric companies with no danger of going out of business. Bounce Energy has the cheapest available electric rates at this time.

Low Cost Texas Electric Providers

For Low Cost Residential Electricity with a solid reputable electric provider in Texas we recommend Bounce Energy. Sign up with Bounce on their discounted fixed electric rate in the chart above, that will not change for the entire term of the contract.

Bounce Sign up form is in the compare tool above. Start by entering your zip code

If you live in or around the Houston area you will find the best electric rate with Bounce Energy – Learn More Above!

Riverway Electric Company

Riverway Power boasts that their company is set a part from the other Texas electric providers because of their 360 degree customer focus approach. Lousy customer service is something Riverway Power works to avoid however many new electric providers get it wrong when it comes to billing their customers correctly and staying in business for the long term. As of recently they have put a huge ding on their reputation by not honoring low cost 12 month fixed electric rate contracts they were selling Texas consumers at around 11.1 cents kWh. A few more years will tell if Riverway Power will be here for the long haul or will be like many new comers that have come into Texas to do business only to leave due to a failed billing system and or unprofitable sales from bad energy trading and hedging policies within their risk management departments.

The most likely reason for Riverway Power raising their customers fixed rate electric contracts is because of not hedging their energy correctly. Most people who are familiar with Riverway Power from this incident will never trust that their fixed rate residential electric rate product is truly fixed. If I was in the shoes of James or Monty who had their fixed rate electric contract cancelled on them I would now consider any rate Riverway offers as a variable electric rate.

We sincerely hope Riverway Power will be a success story but with any new Texas electric provider these issues are always a worry and so it is good to take a cautious look when picking an energy company. If you are a commercial business or residential home and you lock in at a low rate you want to feel confident that they will not leave the state with a broken electric agreement. This would leave you with the new job of finding a different electric provider at a higher market rate. We are not saying stay away from Riverway Power but you do need to be careful with new electric providers.

Contact info for Riverway Power

You can reach Riverway Power electric company at this number: 866-321-1520. After the April 2008 incident of the adjustment in what was a fixed electric rate contract many people have called Electricity Bid explaining that they haven’t been able to reach Riverway Power.

How to File a Complaint

If you believe you have been sold a bait and switch as described in the Deceptive Trade Practices Act you may wish to file a formal complaint with the Texas attorney general Greg Abbott: Complaint Form

To file a complaint with the Public Utility Commission of Texas click here: PUCT Complaint Form

Other Electric Companies Following in Riverway’s Footsteps

Prebuy Electric and National Power Company have both had issue with not hedging their energy properly. Now that fuel costs are so high they are left eating their loss or passing this on as a higher electric rate to their customers. Prebuy Electric Company has filed for bankruptcy today and National Power Company attempted to raise their customers electric rates from around 11 cents kWh to 15 cents kWh even though the rate was supposed to be locked anywhere from 6 months to 18 months depending on the monthly term they signed up for. As of June 16th several customers of a well known provider, Dynowatt, have also been complaining that they too have had their fixed electric rate broken by Dynowatt Energy. After calling Dynowatt to confirm this is not actually true. These Dynowatt customers were on a variable electric rate or just coming off their fixed rate contract. The list of electric companies affected by the volatile summer energy market in Texas has grown to over 6 providers. Some are wondering if Dynowatt will go out of business like Riverway and National Power.

Champion Energy Retail Electric Provider

Saving Money On Electricity In Houston

Champion Energy has a very low cost electric rate in the Houston area but current rates now available may be even better so be sure to compare their prices with the many providers and rates listed in our chart. You can find our compare tool at the top right of this page. Back in Jan 8 of 2008 Champion’s price was lower than any of the other electric companies I had seen so far except for Startex Power. Currently there are new providers out there that may beat them both.

As of Jan 8 2008 they only offer one term at 12 months but this is the most popular term for most people so it usually works for most peoples needs. The rate for January is at 11.1 cents a kWh with a $4.95 monthly service fee but Champion’s electric rate has gone up since then. If you add in the service fee into the rate goes up about .004 cents kWh which is still a lower rate then the most competitive providers offering residential electric service in Houston. For a more competitive electric rate then Champion Energy with no monthly service fee we recommend Startex Power. Depending on your area in Texas their rate will be higher or lower.

If you live in Dallas Texas, Tyler Texas, Alpine, Fort Worth or other cities on the other side of the state there are cheaper providers then Champion. You can find out more here. Learn more about Texas Residential Electricity.

North Texas like Dallas and the cities around Dallas have some of the lowest electric rates in the state in comparison to Houston. We have a comparison chart for commercial customers and a more straightforward comparison for residential customers. If you go to the page for your county or city you will see an advertisement with the lowest cost energy providers for that city on the top left.

Learn more about Texas electricity

Learn more about Champion Energy


Affordable Energy

Affordable Energy

A New Texas Electric MLM Company

There is a new MLM Energy company offering an opportunity in a similar fashion to Ambit Energy and Ignite Energy although they have made their compensation plan quite a bit more attractive. The company goes by the name of Affordable Energy and is a licensed Retail Electric Provider in Texas and offers patented energy efficiency products in all states and internationally.

Positive Aspects To Texas Affordable Energy

Affordable Energy has been in business for 1 year or so and are beginning to kick start the company into gear to take advantage of the Texas deregulated electricity market. Multi-level marketing is one of those things you can make big money at if you get in on it early before the momentum dies off. This company is just getting started and with their competitive compensation plan they are offering their independent sales representatives a much better commission then in comparison to Ambit Energy or Ignite. MLM can be a mistake if you go into it hoping to become rich but do nothing to work at it and grow your business. This opportunity is only worth the effort if you are willing to give your hard work and time to it. Follow the steps given by those who know how to build a successful MLM business and you will do fine. Be aware of the pitfalls and failures of MLM and take advantage of the positives of a new MLM start up and watch the momentum explode your business.

Affordable Electric Rates

Selling Electricity To Residential and Commercial Customers

By selling electricity to residential and commercial electric customers in Texas you can create a business that will pay you residual commissions throughout the life of the contract. You will also receive an upfront one time payment for any customers you sign up which will help keep a sizable income coming in as you build your sales organization. The concentration is on gathering electricity customers. They want you to obtain at least 5 Texas electric customers before you qualify to receive the full compensation plan. The time and effort to take advantage of the full compensation plan is simple and quick and allows those starting early to take advantage of downline residual commissions as your sales downline grows larger and gains additional legs.

PUCT (Public Utility Commission) Licensed REP And Sales Organization

At this time the founding partners of this PUCT licensed Retail Electric Provider are trying to build a team of sales representatives that will grow this business to where Ignite and Ambit are and hopefully overtake them in the process. By getting into this business at the ground level there is the potential to make a large amount of money that isn’t available with some of the other available companies and options out there.

Help In Building Your Business

The founding partners are available to help a new business sales representative build their business and gather the needed 5 electric customers. Meetings, conference calls, and training videos are all being planned and produced at this time and will be available soon. This business really is on the ground floor and so any seasoned or unseasoned MLM’ers should give this company a call or email to see how you can get involved. You may sign up or learn more at Affordable Energy

Learn more about other MLM Electric Companies in Texas:

Ambit Energy
Ignite Energy
Zurvita Energy

Learn more about Texas Electric Companies:

Texas Electricity
Bounce Energy

Choosing a Houston Electric Utility Company in Texas

How to pick a Houston electric utility

You may use the comparison chart on the left to compare several Houston electricity compainies. We pride ourselves in going a few steps further than some Texas electricity providers by disclosing every charge in the advertised electric rate and averaging those charges together so you no exactly what you will be paying. We offer no tricks or gimmicks just a clear easy to understand comparison. You will need to enter your zip code in the box to the left to get started.

Picking a Houston Retail Electric Provider

Texas Retail electric providers must be certified by the Public Utility Commission of Texas. There are several energy providers in Houston Texas but only a few offer truly competitive rates. There are literally about 200 different electricity rate plans out there but your best bet is to stay on a fixed electricity rate for a term of atleast 12 months.

Learn more about the deregulation of electricity in Texas, shop electricity rates and compare offers from Houston electricity providers by visitng Power to Choose.

Follow these instructions, and save money buy picking a cheaper provider:

  1. Go to the Texas government website PowertoChoose.org
  2. Compare the Offers on the site
  3. Put your zipcode in the Zipcode box
  4. Verify the quoted electricity rate by reading the facts label carefully.
  5. If you are still uncertain there are a couple we know of that offer a low electricity rate and the best way to find out is to use our compare chart at the top right.

Building a free solar panel system to power your home

Solar Electricity is doable so long as you pick the right solar company and strategy

How many of us have checked into solar only to find that it is impossible to successfully do because of the enormous expense. Just the amount of solar panels and batteries you would need to power your refrigerator would be out of most peoples budget and the time it would take to recoup the investment would be quite awhile. You would be looking at spending around $20,000 for the energy you would need to power your refrigerator all year long. That is a big investment!

Because solar is this expensive most people immediately start looking elsewhere for a green energy approach that costs less. Wind turbines and vegetable oil generators are a couple ways of doing it for less. Before we steer clear of solar for good there has been a new more affordable way to retrofit your house with solar and it actually be an affordable solution. There is a solar panel manufacturer that will retrofit your house with solar panels they produce for only a $500 deposit. The way this manufacturer can get away with charging so little is that you have to pay the manufacturer for the solar energy it produces. The manufacturer tries to keep the electric rate you pay them similar to what you would pay your Retail Electric Provider. If the solar panel infrastructure they put on your house gets destroyed that will not be a problem. The company will maintain it for free. If something goes wrong, they fix it, at their expense.

This program is known as the Citizenre program.

There is a web presence for this online that will help you get started in the sign up process.

Solar can be free because their is a profit incentive to make it free

Solar has never been affordable but so many people think harnessing the suns energy is a great green way to go. It makes sense, because you have all of this heat from the sun going to waiste otherwise. It would be nice if solar was affordable so you could use this energy and do away with coal fired power plants and other pollution causing generation plants. In the past even if you were to invest in solar to try and save money you would end up losing your money then if you had of placed it in a money market account instead. So we have practically no one who really is all that interested in solar in order to save money on their energy bill. The Citizenre program however attempts to make this power source affordable to the masses.

Solar has many new inventions in the horizon. We have over 5 different companies who have a business model devoted to making a solar product that is affordable enough to have those who invest in it actually save money on their electricity. That would mean the cost involved in purchasing their solar kit is not cost prohibitive. Citizenre has a rental program where they will install the system for you and you basically rent it from them while paying them for the electricity. Also remember this company will fix for free any problem along the way. Film based solar cells at a super thin size will eventually make solar panels affordable for everyone. New solar panels built out of plastic will take up more space but will be about 10 times cheaper to build then conventional solar panels. A new mirror technology that harnesses more of the sun rays and beams them onto the solar panels will make solar more efficient. Solar appears to have a bright and less expensive future.

If this is not for you but you like the idea of being updated regarding the latest news and information about solar power in Texas than we would like to recommend the resource we use. This company obviously hopes you will eventually become their customer but in the meantime they are great at sending out relevant information on new solar panel technology as it hits the Texas market.

Also feel free to ask about their free solar panel site survey where they come out to your property to put together a quote on how much it will cost to install a solar system at your house. They may be able to give you a preliminary review and quote on the phone without needing to come to your home. The companies name is ESS Solar and they can be reached by clicking on the banner below.

Texas Solar Installers – Click Here

Electricity Bid helps you find an electric rate and provider to save you money and keep life simple.

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