Trump’s Energy Bill Seen Boosting Average US Power Bills by 2035

U.S. household electricity prices are projected to rise sharply over the next decade under President Donald Trump’s recently enacted “Big Beautiful” budget bill, according to new modelling by Energy Innovation, a non-partisan think tank. The study estimates the average residential energy bill will be $170 higher each year by 2035; a separate analysis by Princeton University’s Rapid Energy Policy Evaluation and Analysis Toolkit puts the increase closer to $280. Signed on 4 July, the legislation expands federal oil and gas leasing, caps subsidies for renewables and rolls back a suite of clean-energy tax credits that are scheduled to lapse at the end of 2025. Energy Innovation says the loss of incentives will slow new wind and solar development just as U.S. power demand reaches record levels, forcing greater reliance on natural gas and driving up consumer costs. The burden will vary widely by state. Missouri is expected to see the steepest jump, with average household energy costs climbing $640 a year by 2035. Kentucky and South Carolina follow at $630, while Oklahoma—long a beneficiary of cheap wind power—faces a $540 increase. Washington State is forecast to see the smallest change, at $55. The report excludes Alaska and Hawaii.