Power prices are rising — just not the way Trump claims
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Yes, national average power prices have risen, but no, not as much as President Trump said.
Why it matters: With plug prices the political term du jour this election year, sifting through arcane power price data will be important to find the facts.
Driving the news: In a Truth Social post this week, Trump claimed household utility bills rose "over 30%" under President Biden.
Where it stands: National electricity prices rose 4.7%, when adjusted for inflation, during Biden's term, with a noticeable uptick in 2022, alongside the early boom in AI, according to the Trump administration's own energy stats agency.
Between the lines: Without adjusting for inflation, that figure rises to 25.8%, far closer to Trump's claim.
Catch up fast: Administration officials on Friday joined a bipartisan group of governors in pushing for an emergency auction for tech companies to bid on 15-year contracts for new electricity generation capacity.
- Their plan aims to douse the political flames over who should pay the costs of surging electricity demand.
Zoom in: Some states — particularly those in the Mid-Atlantic where a lot of data centers are being built — are seeing higher price spikes than the national average.
Reality check: Like gasoline, electricity prices fluctuate for many complex reasons, often with little connection to the sitting president.
What we're watching: Prices are continuing to rise under Trump, including in the nation's capital.
The Energy Department didn't immediately respond to a request for comment.
