Another warning to Riverway customers (UPDATED)

Several readers said they started receiving final bills from Riverway this week that are waaaaayyyyy too high. At first they thought Riverway was just doing an estimate of the meter read — something companies generally can do in two out of three months — but it now seems they are actually billing customers a higher rate.
From a reader:

The reason it was so high is they charged me 16 cents per kwh for the entire month, instead of the contract rate I was locked into at 11 cents.
I haven’t seen anything written on this subject …….. did the Court allow Riverway to raise rates retroactively??? Since I received absolutely no notice until I got an e-mail this weekend from Riverway, I thought Riverway had to honor the 11 cent rate, that is, until a POLR or another electric company took over ?

Riverway should not not have raised the rate like that on the final bill. They also can’t hide behind the claim of an estimated meter read since people are getting their meters read before the switch to the “provider of last resort” occurs. The Public Utility Commission recommends that, yet again, you file a complaint with them immediately over the issue.
If you have your account set up through a credit card you could also use the billing dispute process your credit card company has — make the card company do your bidding and hold up that payment until Riverway sets the rates straight.
UPDATE: Riverway Power today has updated its Web site to reflect that it is cancelling its customer contracts, but also says it has agreements with rivals Amigo Energy and MX Energy to take on Riverway customers as quickly as possible.
From the Riverway site:

We would like to inform you that as Riverway Power filed for reorganization, we have decided no to pursue the reorganization. There were many factors which led to this sad decision, but nevertheless, it was our only option. Thus, we will be no longer be able to provide electric services to our customers. We are working with the Public Utility Commission to transfer our customers to Providers of Last Resort (POLR), so your services are not interrupted.We regret we were left with this painful and unfortunate option. We encourage you to please choose another provider and ask for an out of cycle switch so your services may start faster than the normal switch process.

Interestingly, Amigo’s welcome page for Riverway customers notes that the POLR rate is a whopping 21 to 30 cents per kwh, although getting an expedited switch can reduce the amount of time spent on those painful rates from weeks to days.