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Changes mean homeowners can expect relief in electricity costsGet today's rates from 4 lenders.
Price to Beat
Price to beat has been a big buzz word in the electric power provider's vocabulary for a while now, but on Jan. 1, 2007, it will cease to exist. PTB was established by the state legislature to facilitate the opening of the market for competitive retail electric providers. Under this legislation, the incumbent (or affiliated) retail electric provider for the area would set the local rate (based on a predetermined formula), termed price to beat, and could only ask for permission to raise (or lower) this rate two times each year.