WASHINGTON, DC – On the campaign trail, Donald Trump pledged to cut energy costs in half.  As president, his policies are causing home energy prices to increase, with consumer electricity prices set to climb by hundreds of dollars under Trump and Republicans’ supposedly ‘Big Beautiful Bill’ which is a big ugly betrayal of working families.

Electricity prices have already risen 4.5 percent in the last year, according to recent data from the U.S. Department of Labor, and are estimated to surge this summer.  The National Energy Assistance Directors Association (NEADA) projects home electricity bills are expected to reach their highest average rate in 12 years, at $784 for the summer period.

In Rhode Island, researchers at Energy Innovation found that the House-passed big Trump bill, which repeals clean energy tax breaks and investments, “would increase annual energy bills by $55 million across Rhode Island households annually in 2030, swelling to more than $83 million in higher energy costs by 2035, for a total of $315 million during the budget window of 2025 to 2034.”  It also found the bill “would cost Rhode Island’s workforce 2,000 jobs in 2030 and nearly 1,500 jobs in 2035 as new investment in domestic energy and manufacturing falters.”

“President Trump and Republicans’ outdated 20th century energy policies will raise families’ energy costs, kill jobs, and increase pollution.  Lowering energy prices and “future-proofing” our energy systems is an economic and security imperative.  But President Trump and Congressional Republicans are doing the opposite: increasing people’s and businesses’ electricity bills all over the country and undercutting sustainable investments in America’s energy grid.  The Republican-induced surge in energy prices will burn working-class living standards and line the pockets of special interests,” said Senator Reed.

On average, Rhode Island residents spend about $285 per month on electricity, or $3,420 per year for the average household according to energysage.com.  But if Trump’s ‘Big Ugly’ reconciliation bill becomes law, those costs would increase significantly due to repeal of the vast majority of tax credits for low-carbon sources of electricity like wind, solar, batteries and geothermal power included in the Inflation Reduction Act (IRA).

The New York Times reports: “Repealing those credits could increase the average family’s energy bill by as much as $400 per year within a decade, according to several studies published this year.”

Senator Reed says Trump’s outmoded policies and dysfunctional administration are increasing energy prices; failing to invest in the energy infrastructure America needs now and in the future; making America less energy secure; and costing the country good-paying, union jobs.

With summer heat approaching, Senator Reed notes that those most impacted by higher utility bills are lower-income households, including seniors on fixed incomes, who often lack the resources to cover increased monthly payments.  

“Not only are President Trump and Republicans doubling down on failed policies from the past, they are rescinding investments in forward looking renewable energy projects that are supporting good jobs and ready to come on line and lower prices.  And let’s be clear, they are doing this at the behest of highly profitable fossil fuel companies and conglomerates that are polluting the environment and squeezing consumers,” said Senator Reed.