US Household Energy Bills Projected to Rise by Thousands
Federal policy changes since 2017 could increase average US household energy bills by $6,500 cumulatively through 2040, according to an analysis by Energy Innovation. Five states may see increases of around $9,000.
U.S. households are projected to pay an average of $6,500 more for energy cumulatively through 2040 due to federal policy shifts, according to modeling released by the nonpartisan think tank Energy Innovation. Households in five states—Oregon, Mississippi, South Dakota, Virginia, and Wyoming—could face increases of approximately $9,000.
The analysis attributes these rising costs to increased demand for natural gas for electricity and gasoline for transportation, driven by the cancellation of clean energy projects and the rollback of policies encouraging fuel efficiency and lower-emission vehicles. These factors, according to the report, lead to higher prices.
Energy Innovation's modeling suggests that these policy changes will result in increased annual energy costs in every contiguous U.S. state. The report also forecasts job losses in 47 states, a reduction in GDP in 46 states, an estimated 37,000 additional premature deaths from air pollution, $72 billion in additional healthcare costs, and over 9 billion tons of additional carbon pollution.
The White House has contested the findings, labeling Energy Innovation as partisan and asserting that the administration's policies aim to lower energy costs. Energy Innovation maintains that its analysis relies on publicly available data and is utilized by policymakers across the political spectrum.