Electricity prices rose 6.9% for the year ending in November, the Bureau of Labor Statistics reported Thursday, adding to a trend of rising costs that have burdened households and could play a major role in the 2026 midterm elections.
Electricity prices are rising at a faster rate than overall inflation, which stood at 2.7% as of the latest update to the Consumer Price Index. The report for November was the first since September, because of the government shutdown in October.
Energy prices more broadly rose to 4.2% for the year ending in November, up from 2.8% for September. Gasoline prices increased by 0.9%, and fuel oil prices jumped by 11.3%. Additionally, natural gas prices increased by 9.1%.
Families frustrated by higher costs for electricity and heating could take out their frustrations on the incumbent GOP majorities in next year’s elections. In November, during the off-cycle elections, Democrats won some races by emphasizing affordability, a priority that is projected to remain a top concern for voters in 2026.
Energy Secretary Chris Wright told the Washington Examiner on Wednesday that voters should hold the Trump administration accountable if it fails to curb electricity price hikes. If he fails to fulfill President Donald Trump’s agenda for lowering energy prices, he said voters “should kick me out, fire me!”
Energy demand has climbed in part due to the rapid growth of data centers and artificial intelligence.
The Trump administration, meanwhile, has blamed rising energy costs on the efforts by the Biden administration and Democratic governors to push green energy. The Trump administration has sought to limit the construction of clean energy projects, such as wind and solar power, while removing regulations that hamper the production of fossil fuels.
Wright on Wednesday touted that the administration this past year prevented the closure of more than 15 gigawatts of energy capacity by keeping coal connected to the grid.
TRUMP ADMINISTRATION HAS PREVENTED SHUTDOWN OF ENOUGH ENERGY FOR 11 MILLION HOMES, WRIGHT SAYS
Wright said that when the administration took office, 100 gigawatts of “reliable, firm” energy capacity were slated for closure. He added that if those facilities were to close, electricity prices would undoubtedly rise.
“If that 100 gigawatt had closed, and of course we wanted to participate in the AI race and build these data centers, [and] reshore some American manufacturing, blackouts would be 100 times more common,” Wright said.
