NEW: Household Electricity Prices Have Spiked by 18% Since Trump Took Office 

The new data from the Energy Information Administration (EIA) comes as Trump’s war of choice in Iran kickstarts a global energy crisis 

Worries about energy costs are up by 10 percentage points since last year

Washington, DC – Newly released data from the EIA shows that household electricity prices have skyrocketed by 18% since January 2025, a dramatic spike over the previous high of 13%. Donald Trump and Republicans have canceled or stalled 378 energy projects representing $65 billion in investments, taking enough energy to power 16.8 million homes off the grid. In the last two months, Trump has spent almost two billion taxpayer dollars to stop offshore wind projects from being built, with an additional 250 onshore wind projects being blocked with phony excuses.

As utility bills 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, spiking the price of gasoline and diesel to record highs. With the midterms less than six months away, Trump has dismissed voters’ concerns over rising energy costs, despite the fact that they’re 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 his 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, he’s 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: 

• Trump’s’ budget bill–which was passed by congressional Republicans–canceled or stalled 378clean energy projects, prevented $65 billion in investment, and put 136,090 jobs on the chopping block. 
• 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 $4.55 a gallon. Americans have spent $44.9 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.