Comments on: Riverway Power Electric Company

By: Blu Power of Texas, Letting Customers Go | Texas Electricity

Blu Power of Texas, Letting Customers Go | Texas Electricity — Tue, 01 Jul 2008 16:25:58 +0000

[...] If you are a Blu Power Electric customer we recommend checking out some of the discount electric rate offers we have at the top left of this page. If you have any questions please feel free to give Electricity Bid a call at 817-929-7095. Further questions can be answered by the PUCT (Public Utility Commission of Texas). Some of the other providers that have gone out of business in Texas for similar related issues are, National Power Company and Riverway Power. [...]

By: PUCT Answers Question on MCPE and POLR Electric Rates | Texas Electricity

PUCT Answers Question on MCPE and POLR Electric Rates | Texas Electricity — Wed, 11 Jun 2008 15:33:37 +0000

[...] those not familiar with MCPE, it stands for Market Clearing Price for Energy. National Power, Riverway Power and others had a failed business model that relied on buying energy from the MCPE index which is a [...]

By: Ecomike

Ecomike — Tue, 10 Jun 2008 19:49:46 +0000

Time to replace the “free market” deregulation plan with what we once had, since it worked. But it may take replacing the Republicans in office first!

Or we could all just just spend tons of money we don’t have getting off the grid, or buy lots of Iced tea, turn off the power and sweat it out while the REPS wonder what happened to all their customers.

By: Riverway Power’s Bankruptcy Will not Be Going Through | Texas Electricity

Tue, 10 Jun 2008 18:06:30 +0000

[...] 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 [...]

By: One Contractee

One Contractee — Tue, 10 Jun 2008 02:50:38 +0000

I am one of the 4978 recent contractees that Riverway now wants to cancel via court motion. (They claim to have 6500 customers total). Got the bankruptcy paperwork in the mail today. If motion(s)are denied and Riverway goes belly-up, then ERCOT will just reassign me automatically, so I better get shopping.

By: Scott

Scott — Tue, 10 Jun 2008 01:35:29 +0000

I don’t get it. I signed up for residential service starting 5/21. Now less than 2 weeks into it I get a Reorganization notice?? Just because they can’t hedge properly I am getting screwed? WTF. This is so ridiculous. All of the current 12 month rates on powertochoose.com start at 15.5 cents. UGH. I think ERCOT should stick up for the little people and have them honor those contracts. RIDICULOUS!

By: Jeff

Jeff — Mon, 09 Jun 2008 22:33:55 +0000

This company is seeking bankruptcy protection from their current customers. The hearing is tomorrow (June 10). They are seeking a motion to reject executory contracts.

DO NOT USE THIS COMPANY. They are enticing customers with artificially low rates and then attempting to play the comoodities markets at which they are obviously a failure. AVOID this company as you would avoid the Avian Bird Flu.

When I called them and asked them about the motion, they said I could “seek a refund of my deposit from the Bankruptcy court”. They also assured me they are not liquidating. If I can help it, they will.

Deregulation, like bunjee-jumping sounds fun - but it rarely, if ever works.

By: Monty

Monty — Mon, 09 Jun 2008 20:48:03 +0000

I signed up for Riverway back in April and was switched to them on May 25th. I received the bankruptcy notice before I received my first bill! I contacted the via the on-line chat and ‘Shirley’ said I could switch without penalty, even though I had a 12-month contract.

So as not to leave my provider fate to chance or to the courts, I called Reliant and switched to them. They offer a .1422 until 10/31/2008 (covers the summer months) then .1580 for the rest of the 24 month term.

I did the mid-cycle switch for $6 and will be a Reliant customer on 6/26. I have no idea what my bill from Riverway is going to be. I signed up for an .118 rate for the 12 months but who knows what they will determine needs to be invoiced. Hopefully they will honor the contract for the one month. A man can dream.

By: Riverway Customer

Riverway Customer — Mon, 09 Jun 2008 14:25:26 +0000

dalepa,

I am in a similar boat like you. I signed up on 4/23 for the 1 year fixed rate of 13.4¢/KWH.

The website shows the same message of “Your application is currently PROCESSED- SENT TO ERCOT”.

I was supposed to be switched to Riverway on 6/6.

I just called Reliant and signed up with them for their 24 months paln (13.95¢/KWH till 10/31/2008 then 15.5¢/KWH). I requested an off-cycle switch which would allow me to be connected to Reliant on 6/25. However I have no idea who will bill me for the time period between 6/6 and 6/25!! The last bill from my old provider does not show “final bill” on it so I guess the order has not been processed by ERCOT. However, Riverway cliams that I am their customer since 6/6.. Will see.

By: dalepa

dalepa — Sun, 08 Jun 2008 12:49:18 +0000

What’s going on here? I signed up back in April 9th Month Auto Pay Fixed Price Plan: 12.2¢/KWH

The web site still says “Your application is currently PROCESSED- SENT TO ERCOT”

The current 12 months rates are .17 and monthly rates are now at .22

AM I screwed?