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Energy Secretary Promises Electricity Price Relief 'Very Soon' After Years of Rising Bills

MarketDash Editorial Team
14 hours ago
Energy Secretary Chris Wright says consumers should expect electricity prices to stop climbing soon and potentially decline later in Trump's term, attributing recent price surges to Biden-era policies that restricted energy supply.

If your electricity bill has felt uncomfortably heavy lately, Energy Secretary Chris Wright has some news for you. Speaking on Fox News Sunday, Wright promised that relief is coming "very soon," with prices expected to stop their relentless climb and potentially decline during President Donald Trump's term.

The Blame Game

Wright didn't mince words about who he thinks is responsible for the current situation. According to the Energy Secretary, the Biden administration spent four years shutting down coal plants and natural gas plants, restricting energy supply and driving costs higher. He also pointed to four hydroelectric dams in Washington that were slated for dismantling under the previous administration before Trump halted the plans.

The current administration's approach, Wright explained, focuses on "energy addition" rather than subtraction. He noted that the pro-energy policies are already showing results in other areas, with gasoline prices at their lowest levels in 20 years, excluding a brief period during the COVID-19 pandemic.

"We're doing everything we can to stop that rise in electricity prices that was driven by Biden policies," Wright said, though he acknowledged there's some inertia in the sector preventing immediate price drops.

The Numbers Tell a Story

The data backs up consumer frustrations. According to the U.S. Energy Information Administration, electricity prices have outpaced broader inflation since 2022, climbing 13% on average over that period. The trend hasn't reversed yet either. Retail electricity prices surged 6.7% in September 2025 compared to the same month in 2024.

The AI Factor

Part of the problem is coming from an unexpected source: artificial intelligence. AI data centers now gobble up 5% of total U.S. electricity demand, and that figure is projected to double over the next five years. This surge is putting increased pressure on the grid and pushing household prices higher.

Economist Justin Wolfers has compared the AI-driven energy demand spike to a temporary "egg shortage," suggesting that higher prices will eventually spur new investments and expanded supply. Whether consumers see that relief as quickly as Wright promises remains to be seen.

Back to News

Energy Secretary Promises Electricity Price Relief 'Very Soon' After Years of Rising Bills

MarketDash Editorial Team
14 hours ago
Energy Secretary Chris Wright says consumers should expect electricity prices to stop climbing soon and potentially decline later in Trump's term, attributing recent price surges to Biden-era policies that restricted energy supply.

If your electricity bill has felt uncomfortably heavy lately, Energy Secretary Chris Wright has some news for you. Speaking on Fox News Sunday, Wright promised that relief is coming "very soon," with prices expected to stop their relentless climb and potentially decline during President Donald Trump's term.

The Blame Game

Wright didn't mince words about who he thinks is responsible for the current situation. According to the Energy Secretary, the Biden administration spent four years shutting down coal plants and natural gas plants, restricting energy supply and driving costs higher. He also pointed to four hydroelectric dams in Washington that were slated for dismantling under the previous administration before Trump halted the plans.

The current administration's approach, Wright explained, focuses on "energy addition" rather than subtraction. He noted that the pro-energy policies are already showing results in other areas, with gasoline prices at their lowest levels in 20 years, excluding a brief period during the COVID-19 pandemic.

"We're doing everything we can to stop that rise in electricity prices that was driven by Biden policies," Wright said, though he acknowledged there's some inertia in the sector preventing immediate price drops.

The Numbers Tell a Story

The data backs up consumer frustrations. According to the U.S. Energy Information Administration, electricity prices have outpaced broader inflation since 2022, climbing 13% on average over that period. The trend hasn't reversed yet either. Retail electricity prices surged 6.7% in September 2025 compared to the same month in 2024.

The AI Factor

Part of the problem is coming from an unexpected source: artificial intelligence. AI data centers now gobble up 5% of total U.S. electricity demand, and that figure is projected to double over the next five years. This surge is putting increased pressure on the grid and pushing household prices higher.

Economist Justin Wolfers has compared the AI-driven energy demand spike to a temporary "egg shortage," suggesting that higher prices will eventually spur new investments and expanded supply. Whether consumers see that relief as quickly as Wright promises remains to be seen.