FORM 10-Q
                                
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                            
              QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                      THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended March 31, 1999  

Commission File Number 0-25430    

                       RIDGEWOOD ELECTRIC POWER TRUST IV
            (Exact name of registrant as specified in its charter.)

         Delaware                                             22-3324608        
     (State or other jurisdiction of                     (I.R.S. Employer  
     incorporation or organization)                     Identification No.)  

   947 Linwood Avenue, Ridgewood, New Jersey                07450-2939     
   (Address of principal executive offices                  (Zip Code)  

     (201) 447-9000  
   Registrant's telephone number, including area code:  

     Indicate  by check mark  whether  the  registrant(1)  has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days. YES [X] NO [ ]
<PAGE>  

                         PART I. - FINANCIAL INFORMATION

Item 1. Financial Statements


                        Ridgewood Electric Power Trust IV

                        Consolidated Financial Statements

                                 March 31, 1999


<PAGE>
Ridgewood Electric Power Trust IV
Consolidated Balance Sheet    
--------------------------------------------------------------------------------

                                                  March 31,    December 31,
                                                   1999             1998
                                                -----------     ----------
Assets: .....................................    (unaudited)

Cash and cash equivalents ...................   $  1,155,439    $  2,021,168
Accounts receivable, trade ..................        579,613         617,973
Due from affiliates .........................         12,766         377,710
Other assets ................................         54,519          57,975
                                                ------------    ------------
       Total current assets .................      1,802,337       3,074,826
                                                ------------    ------------

Investments:
Maine Hydro Projects ........................      6,754,424       6,217,289
Maine Biomass Projects ......................      6,238,665       6,306,818
Santee River Rubber .........................      4,389,424       4,501,357
Electric power equipment held for resale ....        455,182         455,182

Plant and equipment .........................     16,473,238      16,359,211
Accumulated depreciation ....................     (2,304,375)     (2,073,744)
                                                ------------    ------------
                                                  14,168,863      14,285,467
                                                ------------    ------------

Electric power sales contract ...............      8,338,040       8,338,040
Accumulated amortization ....................     (1,641,047)     (1,502,081)
                                                ------------    ------------
                                                   6,696,993       6,835,959
                                                ------------    ------------

Spare parts inventory .......................        746,178         746,178
Debt reserve fund ...........................        645,085         637,108
                                                ------------    ------------
        Total assets ........................   $ 41,897,151    $ 43,060,184
                                                ------------    ------------

Liabilities and Shareholders' Equity:

Liabilities:
Current maturities of long-term debt ........   $    651,613    $    651,613
Accounts payable and accrued expenses .......        432,519         563,685
Due to affiliates ...........................        176,613         441,614
                                                ------------    ------------
         Total current liabilities ..........      1,260,745       1,656,912

Long-term debt, less current portion ........      4,039,345       4,196,455
Minority interest in the Providence Project .      6,138,885       6,202,894

Commitments and contingencies

Shareholders' equity:
Shareholders' equity (476.8 shares issued and
    outstanding) ............................     30,558,660      31,098,950
Managing shareholder's accumulated deficit ..       (100,484)        (95,027)
                                                ------------    ------------
         Total shareholders' equity .........     30,458,176      31,003,923
                                                ------------    ------------

         Total liabilities and
           shareholders' equity .............     41,897,151    $ 43,060,184
                                                ------------    ------------


          See accompanying notes to consolidated financial statements

<PAGE>
Ridgewood Electric Power Trust IV
Consolidated Statement of Operations (unaudited)
--------------------------------------------------------------------------------

                                                     Three Months Ended
                                                --------------------------
                                                 March 31,      March 31,
                                                   1999           1998
                                                -----------    -----------

Net sales ...................................   $ 1,701,399    $ 1,703,472
Sublease income .............................        92,250         92,250
                                                -----------    -----------
               Total revenue ................     1,793,649      1,795,722

Cost of sales ...............................     1,521,989      1,124,104
                                                -----------    -----------

Gross profit ................................       271,660        671,618

General and administrative expenses .........       182,631        194,091
Management fee ..............................       116,817        280,071
                                                -----------    -----------
               Total other operating expenses       299,448        474,162
                                                -----------    -----------

(Loss) income from operations ...............       (27,788)       197,456
                                                -----------    -----------

Other income (expense):
      Interest income .......................        23,572        163,397
      Interest expense ......................      (115,103)      (129,430)
      Income from Maine Hydro Projects ......       537,135        326,530
      Loss from Maine Biomass Projects ......      (168,403)      (267,857)
      Loss from Santee River Rubber .........        (7,432)          --   
                                                -----------    -----------
               Net other income .............       269,769        92,640
                                                -----------    -----------

Income before minority interest .............       241,981        290,096

Minority interest in the earnings of the
      Providence Project ....................       (65,303)      (140,882)
                                                -----------    -----------

Net income ..................................   $   176,678    $   149,214
                                                -----------    -----------


        See accompanying notes to the consolidated financial statements

<PAGE>

Ridgewood Electric Power Trust IV
Consolidated Statement of Changes in Shareholders' Equity (unaudited)
--------------------------------------------------------------------------------


                                                   Managing
                                 Shareholders     Shareholder        Total
                                 ------------    ------------    ------------


Shareholders' equity, December
   31, 1998 ..................   $ 31,098,950    $    (95,027)   $ 31,003,923

Cash distributions ...........       (715,201)         (7,224)       (722,425)

Net income for the ...........        174,911           1,767         176,678
period
                                 ------------    ------------    ------------

Shareholders' equity, March
         31, 1999 ............   $ 30,558,660    $   (100,484)   $ 30,458,176
                                 ------------    ------------    ------------



           See accompanying notes to consolidated financial statements


<PAGE>
Ridgewood Electric Power Trust IV
Consolidated Statement of Cash Flows (unaudited)
--------------------------------------------------------------------------------

                                                       Three Months Ended
                                                   -----------------------------
                                                 March 31, 1999   March 31, 1998

                                                   ------------    ------------
Cash flows from operating activities:
  Net income ...................................   $    176,678    $    149,214
                                                   ------------    ------------

  Adjustments  to  reconcile  net income to
    net cash  flows  from  operating activities:
    Depreciation and amortization ..............        369,597         242,506
    Minority interest in earnings of the
      Providence Project .......................         65,303         140,882
    Income from unconsolidated Maine Hydro
      Projects .................................       (537,135)       (326,530)
    Loss from unconsolidated Maine Biomass
      Projects .................................        168,403         267,857
    Loss from unconsolidated Santee River
      Rubber ...................................          7,432            --   
    Changes in assets and liabilities:
      Decrease (increase) in accounts
        receivable, trade ......................         38,360        (448,061)
      Decrease (increase) in other assets ......          3,456         (45,653)
      Decrease in accounts payable
        and accrued expenses ...................       (131,166)        (65,622)
      Increase (decrease) in due from
        affiliates, net ........................         99,943       (166,154)
                                                   ------------    ------------
        Total adjustments ......................         84,193       (400,775)
                                                   ------------    ------------
  Net cash provided by (used in)
    operating activities .......................        260,871        (251,561)
                                                   ------------    ------------

Cash flows from investing activities:
  Loans to Maine Biomass Projects ..............       (100,250)       (250,000)
  Distributions from Santee River Rubber .......        104,501            --   
  Capital expenditures .........................       (114,027)       (467,559)
  Deferred due diligence costs .................           --           (23,346)
                                                   ------------    ------------
    Net cash used in investing activities ......       (109,776)       (740,905)
                                                   ------------    ------------

Cash flows from financing activities:
  Cash distributions to shareholders ...........       (722,425)       (927,453)
  Payments to reduce long-term debt ............       (157,110)       (142,782)
  Increase in debt reserve fund ................         (7,977)           --   
  Distribution to minority interest ............       (129,312)       (165,389)
                                                   ------------    ------------
    Net cash used in financing activities ......     (1,016,824)     (1,235,624)
                                                   ------------    ------------

Net decrease in cash and cash equivalents ......       (865,729)     (2,228,090)

Cash and cash equivalents, beginning of year ...      2,021,168      11,086,281
                                                   ------------    ------------

Cash and cash equivalents, end of period .......   $  1,155,439    $  8,858,191
                                                   ------------    ------------






          See accompanying notes to consolidated financial statements.


<PAGE>
Ridgewood Electric Power Trust IV
Notes to Consolidated Financial Statements (unaudited)

1. General

In the opinion of management,  the accompanying  unaudited financial  statements
contain  all  adjustments,   which  consist  of  normal  recurring  adjustments,
necessary  for the pair  presentation  of the results  for the interim  periods.
Additional footnote disclosure  concerning accounting policies and other matters
are  disclosed  in  Ridgewood  Electric  Power Trust IV's  financial  statements
included  in the 1998  Annual  Report  on Form  10-K,  which  should  be read in
conjunction  with these  financial  statements.  Certain prior year amounts have
been reclassified to conform to the current year presentation.

The results of operations for an interim period should not  necessarily be taken
as  indicative  of the results of  operations  that may be expected for a twelve
month period.

2.  Maine Biomass Projects

In the first  quarter of 1999 and April  1999,  the Trust  loaned  $100,250  and
$62,250,   respectively,   to  Indeck  Maine  Energy,   L.L.C.  ("Maine  Biomass
Projects"). The loan is in the form of two demand notes that bear interest at 5%
per annum.  Ridgewood Electric Power Trust V, which owns an identical  preferred
membership interest in the Maine Biomass Projects,  also made identical loans to
the Maine Biomass Projects.  The other Maine Biomass Project members also loaned
$150,000  in the first  quarter of 1999 and  $177,000 in April 1999 to the Maine
Biomass Projects with the same terms.

The Maine  Biomass  Projects  were  operated  by  Indeck  Operations,  Inc.,  an
affiliate of the members of the Maine Biomass  Projects.  The annual  operator's
fee is  $300,000,  of which  $200,00  is  payable  contingent  upon  the  Trusts
receiving their cumulative annual return. The management agreement had a term of
one year and  automatically  continued  for  successive  one year terms,  unless
canceled by either the Maine  Biomass  Projects or Indeck  Operations,  Inc. The
Maine Biomass Projects  exercised their right to terminate the contract on March
1, 1999 because certain  preferred  membership  interest  payments have not been
made.  Under an Operating  Agreement with the Trust,  Ridgewood Power Management
Corporation  ("Ridgewood  Management"),   an  entity  related  to  the  managing
shareholder  through  common  ownership,  will provide  management,  purchasing,
engineering, planning and administrative services to the Maine Biomass Projects.
Ridgewood Management charges the projects at its cost for these services and for
the allocable amount of certain overhead items.  Allocations of costs are on the
basis of  identifiable  direct  costs,  time records or in proportion to amounts
invested in projects.


Item 2. Management's  Discussion and Analysis of Financial Condition and Results
of Operations

Dollar amounts in this discussion are generally rounded to the nearest $1,000.

Introduction

The consolidated  financial statements include the accounts of the Trust and the
limited  partnerships  owning the Providence  Project and the California Pumping
project.  The Trust uses the equity method of accounting for its  investments in
the Maine Hydro Projects, the Maine Biomass Projects and the Santee River Rubber
Project, which are owned 50% or less by the Trust.

Results of Operations

         Quarter ended March 31, 1999 compared to quarter ended March 31, 1998.

In the first quarter of 1999, the Trust had total revenue of  $1,793,000,  which
is comparable  with total revenue of $1,795,000 in the same period in 1998. Cost
of sales increased to $1,522,000 in the first quarter of 1999 from $1,124,000 in
the same period in 1998 as a result of higher  engine  maintenance  costs at the
Providence Project.

General and  administrative  expenses  in the first  quarter of 1999 of $183,000
were  comparable with the same period in 1998. The management fee decreased from
$280,000  in the first  quarter of 1998 to  $117,000  in the same period in 1999
primarily  as a result of the  Managing  Shareholder's  decision to  voluntarily
waive one-half of its management fee for an indefinite period.

Interest  income declined by $140,000 from $164,000 in the first quarter of 1998
to $24,000  in the first  quarter of 1998 due to lower  average  cash  balances.
Interest  expense was reduced by $14,000 from  $129,000 in the first  quarter of
1998  to  $115,000  in  the  first  quarter  of  1999  due to  lower  borrowings
outstanding at the Providence project.

Equity income from the Maine Hydro Projects  increased $210,000 from $327,000 in
the first  quarter of 1998 to  $537,000 in the same period in 1999 due to higher
production  because of  above-average  river  flows.  The  equity  loss from the
shut-down Maine Biomass Projects decreased from $268,000 in the first quarter of
1998 to $168,000 in the same period in 1999 due to cost  reductions and sales of
installed capacity at the plants.

         Quarter ended March 31, 1998 compared to quarter ended March 31, 1997.

In the first quarter of 1998, the Trust had total revenue of  $1,796,000,  which
is comparable  with total revenue of $1,774,000 in the same period in 1997. Cost
of sales of $1,124,000 in the first  quarter of 1998 were also  comparable  with
the cost of sales of $1,188,000 in the first quarter of 1997.

General and  administrative  expenses  increased by $84,000 from $103,000 in the
first quarter of 1997 to $187,000 in the same period of 1998  primarily  because
none of Ridgewood Power Management  Corporation's  ("RPMC") allocated costs were
capitalized  by the  Providence  Project in 1998.  In 1997,  a ninth  engine was
installed at the Providence Project and certain allocated  administrative  costs
related to the installation  were capitalized.  Other operating  expenses in the
first quarter of 1997 and 1998 were comparable.

Interest  income  declined by $86,000 from $249,000 in the first quarter of 1997
to $163,000 in the first  quarter of 1998 due to lower  average  cash  balances.
Interest  expense was reduced by $38,000 from  $167,000 in the first  quarter of
1998  to  $129,000  in  the  first  quarter  of  1999  due to  lower  borrowings
outstanding oat the Providence Project.

Equity income from the Maine Hydro Projects  increased $100,000 from $227,000 in
the first  quarter  of 1997 to  $327,000  in the same  period in 1998 due to the
improved  results of the Maine  Hydro  Projects  which is  primarily a result of
higher  production  because of above-average  river flows. The Trust recorded an
equity  loss of  $268,000  in the first  quarter  of 1998  from the  temporarily
shut-down Maine Biomass Projects. These projects were acquired in July 1997.

Liquidity and Capital Resources

In 1997,  the Trust and Fleet Bank,  N.A. (the "Bank")  entered into a revolving
line of credit agreement,  whereby the Bank provides a three year committed line
of credit  facility of $1,150,000.  Outstanding  borrowings bear interest at the
Bank's  prime rate or, at the  Trust's  choice,  at LIBOR plus 2.5%.  The credit
agreement  requires  the Trust to maintain a ratio of total debt to tangible net
worth of no more than 1 to 1 and a minimum debt service  coverage  ratio of 2 to
1. The credit facility was obtained in order to allow the Trust to operate using
a minimum amount of cash,  maximize the amount invested in Projects and maximize
cash distributions to shareholders. There have been no borrowings under the line
of credit in 1999.

The Managing Shareholder  announced a change of distribution policy in May 1999.
Distributions  to  Investors  from the  Trust,  which had been made on a monthly
basis,  will be made on  a quarterly  basis  going  forward  in order to  reduce
administrative burdens.

In addition,  the Managing Shareholder is reducing the Trust's distribution rate
per share to $1,000 per quarter,  equal to a 4% distribution  rate per year. The
rate paid in 1998 was 6% per year.  The  reduction  is  expected  to continue at
least into early 2000.  The Managing  Shareholder  also has  voluntarily  waived
one-half of its management fee  (approximately  $39,000 per month)  beginning in
January 1999.  The Managing  Shareholder is not obligated to continue the waiver
and may end it at any time in its sole  discretion.  The Trust  anticipates that
the  Santee  River and  Maine  Biomass  plants  will  begin to make  significant
contributions  to cash flow in mid- to-late 2000, which might permit an increase
in  distributions  at that time.  However,  the Trust  cannot  assure that these
results  will  occur  or  that  the  distribution  rate  will be  maintained  or
increased.

Other  than  investments  of  available  cash  in  power  generation   Projects,
obligations of the Trust are generally  limited to payment of Project  operating
expenses, payment of a management fee to the Managing Shareholder,  payments for
certain  accounting  and legal  services to third persons and  distributions  to
shareholders  of  available   operating  cash  flow  generated  by  the  Trust's
investments.  The Trust's  policy is to distribute as much cash as is prudent to
shareholders.  Accordingly,  the Trust has not  found it  necessary  to retain a
material amount of working  capital.  The amount of working capital  retained is
further reduced by the availability of the line of credit facility.

The  Trust  anticipates  that,  during  1999,  its cash  flow  from  operations,
unexpended  offering  proceeds and line of credit  facility  will be adequate to
fund its obligations.

Year 2000 remediation

Please refer to the Trust's disclosures at Item 7 - Management's  Discussion and
Analysis  of its Annual  Report on Form 10-K for 1998 for a  discussion  of year
2000 issues affecting the Trust.  Since that report was filed, the only material
change in the Trust's year 2000  compliance  is that the changes to the Managing
Shareholder's investor distribution system have been completed. Testing of those
changes has been  rescheduled to late May 1999 in  conjunction  with a regularly
scheduled  set of  distributions.  No  other  material  changes  in the  Trust's
remediation efforts or its plans for year 2000 compliance have occurred.

<PAGE>

                          PART II - OTHER INFORMATION

Item 1. Legal Proceedings

As  previously  reported  in the  Trust's  Annual  Report on Form 10-K for 1998,
Ridgewood/Providence  Power  Partners,  L.P.  ("RPPP"),  a  limited  partnership
through which the Trust owns its limited partnership  interest in the Providence
Project,  is a  defendant  before  Region  I office  of the  U.S.  Environmental
Protection  Agency  ("EPA")in  an  administrative  proceeding  to recover  civil
penalties of up to $190,000 for alleged violations of operational  recordkeeping
and training requirements at the Providence Project.  Discussions are continuing
with EPA with regard to a settlement of the civil  penalties  for  approximately
one-half  of the  original  demand and for  offset,  in EPA's  discretion,  of a
portion of the penalties against future environmental improvements to be made by
the  Trust.  RPPP  does  not  anticipate  a  material  adverse  impact  from the
proceeding  and does not anticipate  the need to make further  material  capital
expenditures  to remedy  the items  identified  by the EPA.  The Trust  does not
anticipate  that it will be  liable  for or will  have to fund the  costs of the
proceeding, although those costs will reduce cash flow from the Project.

Item 5. Other Information

Ridgewood Power  Corporation has been the managing  shareholder of the Trust. It
organized  the Trust and acted as managing  shareholder  until April 1999. On or
about  April 20,  1999 it was  merged  into  Ridgewood  Power  LLC, a New Jersey
limited  liability  company,  which thus became the Managing  Shareholder of the
Trust. Ridgewood Power LLC was organized in early April 1999 and has no business
other than acting as the successor to Ridgewood Power  Corporation.  No material
change in the Trust's operations or business will result from the merger.

Robert E. Swanson has been the President,  sole director and sole stockholder of
Ridgewood Power  Corporation since its inception in February 1991 and is now the
controlling member, sole manager and President of the Managing Shareholder.  Mr.
Swanson  currently is the sole equity owner of the Managing  Shareholder  but is
considering a transfer of 53% of the equity  ownership to two family trusts.  If
that  transfer is made, he will have the power on behalf of those trusts to vote
or dispose of the membership equity interests owned by them and accordingly will
continue to have sole control of the Managing Shareholder.  Further, Mr. Swanson
is designated as the sole manager of the Managing  Shareholder  in its operating
agreement.

Ridgewood Power LLC is also the managing  shareholder of the other five business
trusts   organized  by  Ridgewood  Power   Corporation  to  participate  in  the
independent electric power industry.

Similarly,  Ridgewood  Power  Management  Corporation,  which  operates  certain
Projects  on behalf of the Trust,  was merged on or about  April 20, 1999 into a
new New Jersey limited  liability  company,  Ridgewood Power Management LLC. The
ownership and control of Ridgewood Power Management LLC are the same as those of
Ridgewood  Power LLC and its only  business is to be the  successor to Ridgewood
Power  Management  Corporation.  No  material  change  in the  operation  of the
Projects is expected as a result of that merger.


Item 6. Exhibits and Reports on Form 8-K    

        a. Exhibits    

           Exhibit 27. Financial Data Schedule  
<PAGE>

                                   SIGNATURES


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  cause  this  report  to be  signed  on its  behalf  by the
undersigned thereunto duly authorized.




                           RIDGEWOOD ELECTRIC POWER TRUST IV   
                                   Registrant    


May 17, 1999               By /s/ Martin V. Quinn 
Date                              Martin V. Quinn 
                                  Senior Vice President and
                                   Chief Financial Officer  
                                  (signing on behalf of the
                                   Registrant and as
                                   principal financial 
                                   officer)