(b) “Price” means:

(1) for essential services, retail price; or

(2) for essential goods, retail or wholesale price.

(c) “Replacement costs” means:

(1) acquisition costs;

(2) costs that are a result of a contract in which the formula references published market prices; or

(3) the actual anticipated costs of replacing an essential good or service offered for sale, based on documented information available at the time of the increase in price.

(d) “State of emergency” means a state of emergency declared by the Governor under § 14-107 of this title.