Washington, D.C. — Electricity prices are spiking, and the Trump administration’s actions are further increasing costs for working people while enriching billionaire oil and gas donors, according to new report from the Center for American Progress.
This report details the 10 actions the Trump administration is taking that are driving up electricity and utility costs while reducing access to the most affordable energy:
- Imposing U.S. and reciprocal tariffs that drive up electricity import costs and raise prices across the supply chain.
- Expanding liquified natural gas exports, which raises domestic natural gas prices and exposes the U.S. electric market and households to global price spikes.
- Gutting the Federal Trade Commission, making it easier for utilities and energy companies to wield monopoly power.
- Cutting Low-Income Home Energy Assistance Program funding, which reduces support for low-income households to keep the lights on and have essential heating and cooling.
- Weakening efficiency standards for appliances and electronics, leading to wasted energy and higher utility bills.
- Shifting the costs of new data centers to households by encouraging ratepayer subsidization of private data center buildout.
- Freezing clean energy investments and grants that Congress already allocated through the Infrastructure Investment and Jobs Act and the Inflation Reduction Act.
- Restricting affordable energy deployment by blocking renewable development and electrification.
- Creating chaos for electric grid and clean energy investors through erratic disruptions to the economy and higher capital costs.
- Slowing down permitting for energy projects by cutting government staff responsible for permitting.
To break its dependence on fossil fuels and industry market power, the United States needs more policies that democratize energy production, promote competition, and maximize deployment of clean and affordable power, the report says. Unfortunately, the Trump administration’s policies will slow down clean energy and efficiency and give more power to the oil and gas industry. That means higher electricity prices for Americans.
Read the report: “10 Trump Administration Actions That Could Lead to Higher Electricity Prices” by Lucero Marquez, Akshay Thyagarajan, and Shannon Baker-Branstetter
For more information, or to speak with an expert, please contact Sam Hananel at [email protected].