Electricity and Gas Prices See Steep Increases Under Biden, Contributing to High Inflation

• Electricity prices up 29.4% since Biden took office, 13 times faster growth than previous 7 years • Overall inflation rose 3.5% in March, driven by shelter and gasoline costs • Gasoline prices at 6-month high, up over 50% since Biden became president
• Biden's Inflation Reduction Act includes $369B for green energy initiatives • U.S. power demand projected to hit new records in 2024 and 2025