NEW: Household Electricity Prices Have Spiked 19% in New Jersey Since Trump Took Office
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(NEW JERSEY) – With Americans already being squeezed like never before,newly released data from the Energy Information Administration shows that household electricity prices in New Jersey have skyrocketed a whopping 19% since President Donald Trump took office in January 2025. Trump and Congressional Republicans – like Rep. Tom Kean Jr., Rep. Jeff Van Drew and Rep. Chris Smith – have already canceled or stalled 8 energy projects in the Garden State, resulting in the loss or delay of at least 8,519 jobs and $3.69 billion in investments.
As utility bills continue to skyrocket, Trump’s “war of choice” in Iran has effectively closed the Strait of Hormuz and brought the world’s oil supply to a grinding halt. Trump’s actions are spiking the price of gasoline and diesel to record highs. With midterms less than six months away, Trump keeps dismissing voters’ legitimate concerns over rising energy costs, despite the fact that costs are at the highest level since 2008, tying housing as the second biggest affordability concern.
Climate Power Senior Advisor Jesse Lee issued the following statement: “This is Trumponomics at work: ban clean energy to jack up utility bills and make Trump’s oil and gas donors even richer. Trump promised to cut electricity prices in half and keep Americans out of foreign wars. Instead, Americans are paying more at the pump and to keep their lights on. Meanwhile, Trump is delivering for his fossil fuel buddies by using taxpayer dollars to clear the way for them to rake in massive profits, and obsessing over a ballroom where he and his donors can dance the night away. With Trump’s polling numbers at record lows, this new data should send flashing warning signs to every single Republican who has spent the last year and a half rubber-stamping his agenda to raise costs.”
Trump and Republicans have made life more expensive for everyday Americans, even while their ultra-wealthy donors rake in billions:
- Clean energy is the least expensive and quickest power source to bring online and costs 30 to 60 percent less than new gas plants to produce the same amount of electricity.
- Attacks on clean energy have already taken nearly 25 GW of planned generation off the grid. Trump’s crusade to block wind and solar power could nearly double the rate hikes and broader inflation from data center buildout.
- Thanks to Trump’s war of choice in Iran, the average price of gas has spiked by more than 50%, reaching $4.455 a gallon.
- Americans have spent $484.59 billion more at the pump since the start of the war. Meanwhile, Big Oil companies have raked in more than $40 billion in profits in Q1 alone.
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