U.S. Senator Martin Heinrich (D-NM), ranking member of the U.S. Senate Energy and Natural Resources Committee, hosted a roundtable discussion recently on the Trump Administration's policies that he said are raising electricity bills for Americans, including New Mexico.
Heinrich said the energy affordability crisis that is unfolding is almost entirely caused by the current administration.
“President Trump said he would cut electricity prices in half, but electricity prices have risen 13% nationwide since he took office over a year ago,” he said.
Last summer, the U.S. Interior Department announced that all decisions related to wind and solar projects would require an “elevated review” by Secretary Doug Burgum.
Heinrich said Trump’s administration has delayed energy saving projects.
“They've instituted a de facto ban on new wind and solar projects on federal land, stalling 22 gigawatts, the equivalent of power in Two New York Cities from coming on to the grid, and 500 projects totaling 116 gigawatts of capacity are at risk of not being built,” he said.
According to Grid Strategies, a power sector consulting firm, electricity demand is said to grow by 32% by 2030.
NPR reported there are three main factors driving up energy costs: an aging power grid, the cost of natural disasters, and higher fuel costs, especially natural gas.
The Department of Energy has issued at least 16 emergency orders since May of 2025 to keep coal plants from closing.
Heinrich also said keeping retired coal plants operational like the Campbell plant in Michigan, is hurting Americans.
“They're choosing to keep very expensive coal plants on the grid, and consumers are getting charged twice, once for the investments in more affordable energy sources that they've already paid for, and again, in the expensive maintenance fees to keep Campbell plant open, unnecessarily,” he said.
U.S. Senator Catherine Cortez Masto (D-NV) said it’s not just about lowering energy costs, it's about creating jobs.
“We're talking about bringing manufacturing back to this country, but manufacturing is not increasing here,” she said. “We've seen that. That's not what's going on with the tariffs and everything that's happening. We have to pivot. We have to readjust this.”
The Hill reports Democrats plan to use rising electricity prices as a key election issue in this year’s midterms.
This comes as New Mexico’s largest electricity provider, Public Service Company of New Mexico (PNM), is seeking to be acquired by Blackstone Infrastructure for $11.5 billion. Consumer advocates warn this could bring higher electricity prices here. The Public Regulation Commission will hold a public comment hearing Thursday on the proposed PNM acquisition.
Support for this coverage comes from the Thornburg Foundation.
