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AM Briefing

The Real Reasons Power Prices Are Surging

On EU energy rationing, the God Squad, and New England nuclear

Power lines.
Heatmap Illustration/Getty Images

Current conditions: Snow is returning to the Upper Midwest, with as much as a foot set to dump on Duluth, Minnesota • Crater Lake National Park in Oregon just registered the lowest snow water equivalent ever recorded for this time of year • Pago Pago, the capital of American Samoa and the United States’ southernmost city, is weathering days of intense thunderstorms.

THE TOP FIVE

1. Introducing Heatmap and MIT’s Electricity Price Hub

Big news from over here at Heatmap: Today, in partnership with the Massachusetts Institute of Technology and CleanEcon, we launched the Electricity Price Hub, a new public data platform that provides monthly, utility-level estimates of residential electricity rates and bills across the United States going back to 2021, broken down by generation, transmission, and distribution costs.

To kick off the new feature, we have:

  • Jeva Lange on why “everything else” beyond generation and distribution — things like charges for taxes, regulatory fees, insurance, payroll, and pensions, in addition to electrification and environment programs — are driving up electricity bills by nearly 15% across the 132 utilities in our dataset with complete cost breakdowns.
  • Robinson Meyer on how the data platform works and what trends it shows via latest episode of Heatmap’as Shift Key podcast, with MIT’s Brian Deese and Lauren Sidner.
  • Matthew Zeitlin on why rate hikes hit differently in Virginia.
  • Emily Pontecorvo on why lower electricity prices might not yield lower electric bills.

2. Residential electricity costs as a fraction of personal spending hit an all-time low

LBL

Total residential electricity costs as a fraction of personal expenditure came out to 1.25%, according to new data from the Lawrence Berkeley National Laboratory. That would be near an all-time low, but slightly above 2024 levels. Total residential electricity costs as a fraction of total income was also near an all-time low, at 1%. Once again, that metric was also flat in recent years with a slight increase in 2025.

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  • 3. EU urges Europeans to drive and fly less amid energy shock

    Last week, Slovenia became the first European Union nation to introduce fuel rationing amid the energy shock from the Iran War. Now the European Commission has begun urging Europeans to work from home and drive and fly less. Brussels’ top governing body also pressed countries across the bloc to speed up construction of renewables. “Even if … peace is here tomorrow, still we will not go back to normal in the foreseeable future,” Dan Jorgensen, the EU’s energy chief, said in a speech to the energy ministers from all 27 nations, according to Politico.

    4. Trump’s ‘God Squad’ condemns animals to possible extinction

    On Tuesday, Secretary of the Interior Doug Burgum assembled the so-called “God Squad,” a rarely-used committee with the authority to waive Endangered Species Act protections under exceptional circumstances. In this case, Burgum gathered the panel to exempt federally-permitted oil and gas drilling in the Gulf of Mexico from the landmark conservation law on national security grounds. The move came in response to a request from Secretary of Defense Pete Hegseth. “It took the Trump administration 15 minutes to wipe our crucial environmental safeguards in the Gulf of Mexico,” Jimmy Tobias and Chris D’Angelo wrote in the conservation newsletter Public Domain yesterday. “It took them 15 minutes to condemn an endangered animal to possible extinction. It took them 15 minutes to play God.”

    The Trump administration has previously given credence to species conservation arguments against wind energy, both onshore and off. As my colleague Jael Holzman has covered, the administration has used laws protecting eagles to extract information and fines from wind farms, and has appeared to follow a playbook laid out by anti-offshore wind activist groups that includes leveraging marine species protections to block development.

    5. GM idles its billion-dollar Factory Zero electric vehicle plant in Detroit again

    General Motors has once again idled production at its Factory Zero electric vehicle plant in Detroit as demand wanes. The move comes less than three months after a mass layoff and reduction to a single shift, Automotive News reported. The facility was part of a $2.2 billion investment in 2021 to manufacture the GMC Hummer EV and Sierra EV, the Chevrolet Silverado EV, and the Cadillac Escalade IQ electric SUV. The latest temporary layoff impacts 1,300 workers, who were told to stay home starting March 16 and return to work on April 13, the United Auto Workers told InsideEVs.

    THE KICKER

    Just a few years ago, you’d be mistaken for thinking this was an April Fool’s Day joke: New England is going atomic. The governors of all six states signed onto a statement Tuesday outlining steps for what they said is to “strengthen the region’s energy reliability, affordability, and long-term supply” of electricity. “New England has a long tradition of collaborating on regional energy matters. As governors, we are committed to safeguarding our collective energy future through advancement of a diverse energy strategy that includes nuclear power, a pillar of New England’s electric system,” the governors of Massachusetts, Connecticut, Maine, New Hampshire, Rhode Island, and Vermont wrote.

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    Carbon Removal

    The Sorry State of Carbon Removal

    A new scientific report on the state of the industry shows a growing gap between what we can do and what we need to do.

    Carbon capture.
    Heatmap Illustration/Getty Images

    The gap between the world’s current capacity to remove carbon dioxide from the atmosphere and the amount we’ll need to remove to materially address climate change is so large, it's hard to fathom crossing it. Now, a new report warns that the chasm is widening.

    The third State of Carbon Dioxide Removal report, published on Tuesday, finds that while carbon removal research and deployment has advanced significantly in the past two years, it is still not growing quickly enough to reach the scale required to support the Paris Agreement temperature limits. Carbon emissions, meanwhile, have continued to rise globally, raising the amount of carbon removal required in turn.

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    AM Briefing

    China’s Nuclear Milestone

    On Anthropic’s IPO, home energy rebates, and French rare earths

    A nuclear power plant.
    Heatmap Illustration/China National Nuclear Corporation

    Current conditions: The most powerful storm to hit Western Australia in 49 years has deluged the capital of Perth • Temperatures in the Arizonan metropolis of Phoenix are climbing to 103 degrees Fahrenheit today, and will stay around that level all week • South Georgia Island, a British overseas territory near Antarctica in the Atlantic, is bracing for heavy snow.


    THE TOP FIVE

    1. Anthropic prepares to go public

    Anthropic, the artificial intelligence giant behind the chatbot Claude, filed the first documents to the Securities and Exchange Commission to make its stock market debut. The company submitted a confidential S-1, meaning that — unlike the recent SpaceX filing — the details aren’t yet publicly available. By doing so, Anthropic has “the option to go public after the SEC completes its review,” the company wrote Monday in a blog post. The number of shares to be offered and the price “have not yet been set.” The IPO could have big energy implications. Unlike some hyperscalers, who have pushed back against the public blowback to data centers, Anthropic vowed three months ago to pay to offset electricity price hikes from its server farms, as I previously wrote. Coupled with the news yesterday morning that Iran had broken off negotiations with the U.S. to end the conflict blocking the Strait of Hormuz, Monday offered clear evidence of what Heatmap’s Robinson Meyer described as the electricity economy “having its moment.”

    Keep reading...Show less
    Blue
    Podcast

    Affordability Politics Took On New York’s Climate Law — and Won

    Rob gets into the latest state-level policy developments with Heatmap’s own Emily Pontecorvo.

    Kathy Hochul.
    Heatmap Illustration/Getty Images

    When New York passed its first major climate law in 2019, climate advocates hailed the work as a milestone: The Empire State vowed to cut its carbon emissions by 40% by 2030, as compared to their 1990 levels, giving it some of the world’s most ambitious subnational climate policy. But last week, Governor Kathy Hochul and the state legislature moved to rewrite key provisions in that law, weakening deadlines and redefining its emissions math.

    What happened? And would New York have ever been able to hit its 2030 goal? On this episode of Shift Key, Rob is joined by Emily Pontecorvo, a founding staff writer at Heatmap. They discuss how New York has changed its targets, why it has altered its approach to natural gas, and whether state-level climate goals can survive an age of affordability politics.

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