4th Texas electric company to fold

AUSTIN — Yet another financial failure by a Texas electric company means thousands more ratepayers will likely get dumped into high-cost default service, according to a regulatory spokesman.

The company, Riverway Power of Houston, had earlier filed for bankruptcy, but continued operations.

However, a Houston bankruptcy court on Tuesday dismissed the bankruptcy case, meaning that as many as 6,500 Riverway customers will likely be shifted to high-cost default providers, according to a spokesman for the Texas Public Utility Commission.

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