Trump pledged to cut electricity costs in half within a year of taking office. Instead, they’ve spiked amid surging demand. Nationally, the average retail price for electricity gained 7.4% in September to a record 18.07 cents per kilowatt-hour, the biggest gain since December 2023, according to the latest government data. Residential prices have jumped even higher, rising by 10.5% between January and August 2025, one of the largest increases in more than a decade, according to the National Energy Assistance Directors Association.
