Trump's Promise to Halve Electricity Prices Fails as Rates Rise 18%
An analysis by Yahoo Finance finds that former President Trump's campaign pledge to reduce electricity prices by 50% within 18 months of his January 2025 inauguration has failed. According to U.S. Energy Information Administration data, residential electricity rates rose 18% through April 2026, with a 7.3% increase in the last 12 months alone—roughly double the inflation rate. The article attributes the price rise to a supply-demand mismatch driven by AI data center demand, coal and gas plant closures, and policy decisions including tariffs on grid equipment and nearly $1 billion paid to TotalEnergies to cancel offshore wind projects. Utilities filed $9.2 billion in rate-hike requests in Q2 2026. Independent analysts note that retail rates are largely set by state regulators, limiting federal influence. The article concludes that the promise was impossible to deliver on.
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