A new report found Trump regime energy policies will cost Connecticut consumers $5.1 billion more on energy through 2040
Connecticut households face higher energy bills and gasoline prices, while the state stands to lose jobs and economic output
Researchers described their estimates as conservative, meaning the costs could run higher
Trump regime energy policies will cost Connecticut consumers $5.1 billion more on energy over the next 15 years than they would otherwise pay, according to a new report by the energy policy think tank Energy Innovation.
The report examined a range of Trump regime actions. They included the 2025 Republican-led federal budget law, the Environmental Protection Agency’s rollback of greenhouse gas and water pollution standards for power plants, the repeal of the finding that motor vehicle emissions endanger public health, limits on renewable energy development and the cancellation of $7 billion in solar grants. Energy Innovation found that those actions would combine to drive up Connecticut’s energy costs through 2040.
In 2035, the average Connecticut household will pay $320 more annually on energy; by 2040, that total will climb to $430, the analysis said.
The end of policies that contribute to innovation and efficiency in the transportation sector are expected to increase gasoline prices by 17% in 2035 and 31% by 2040, while the federal budget and cuts to manufacturing innovation will likely cost Connecticut roughly 21,000 jobs through 2035.
A slowdown in electrification and domestic energy manufacturing will shrink the state’s GDP by $370 million by 2030 and by $900 million by 2036. Worsening air pollution will add $190 million in health care costs over the next 15 years, according to the analysis.
The report factored in the effect of the war in Iran on energy prices. It did not account for tariffs beyond their effect on markets so far. Researchers described their estimates as conservative, meaning the costs could be higher.
Nationally, households could pay up to $6,500 more for energy through 2040, and costs could climb by at least $9,000 in five states, the Associated Press reported.
Higher demand for natural gas in the absence of canceled renewable energy projects will cause electricity prices to increase, while demand for gasoline for transportation will grow under the federal government’s removal of policies supporting low-emissions vehicles, the Associated Press reported.
