Recent reports of electricity prices ticking up have Democrats gloating and the corporate media jumping to blame President Donald Trump’s tariffs and efforts to reduce taxpayer subsidies for solar and wind power. But Trump’s energy agenda thus far – particularly his innovative approach to expanding America’s nuclear capacity – means that any price increases will likely be short-lived.
A New York Times story out earlier this month claims that “the Trump administration’s efforts to sell more gas overseas could further hike prices,” while “Mr. Trump’s new tariffs on steel, aluminum and other materials would raise the cost of transmission lines and other electrical equipment” and repealing Biden-era green energy subsidies “could increase the average family’s energy bill by as much as $400 per year within a decade.”
That’s a narrative that Democrat politicians and liberal media pundits will eagerly lap up – but unfortunately, it doesn’t square with reality. Despite decades of endless handouts to wind and solar companies, the vast majority of power in the United States is still produced via oil and gas – industries that the Biden administration waged a regulatory war on for four years. Trump ended that war and opened up more lands for drilling, which is why American oil and gas companies are now able to increase exports.
Moreover, Trump has taken the common-sense step of embracing nuclear power as the key to unlocking America’s energy future, as data centers and artificial intelligence add exponentially more demand on the grid.
Earlier this year, Trump signed a slate of executive orders aimed at speeding up nuclear research and development. The orders reorganized the U.S. Nuclear Regulatory Commission, accelerated licensing timelines, and laid plans for the construction of nuclear reactors for use by the U.S. Department of Energy and Department of Defense.
A similarly bold embrace of nuclear is already bearing fruit overseas – and America stands to benefit as well.
In Finland, a country once dependent on electricity imports from Russia, the construction of Europe’s most powerful nuclear reactor – a 1.6 gigawatt behemoth – has delivered full self-sufficiency and stabilized prices. This year, electricity prices in Finland dropped to zero during peak hours, even hitting a negative rate of -1.99 cents per kilowatt-hour at times. In spring and winter, average daily prices stayed below 0.29 cents per kilowatt-hour.
Overall, Finland now boasts the lowest electricity prices in Europe, averaging just seven euros per megawatt-hour. By contrast, Germany and Spain – which closed their nuclear plants – are paying over 80 and 70 euros per megawatt-hour, respectively.
These results speak volumes: if you want affordable, stable, and secure power, you need nuclear in the mix.
Unfortunately, for nearly two decades, America went in the opposite direction. Under President Obama and then-President Biden, the federal government aggressively shut down viable energy sources and discouraged nuclear development. The Obama administration closed seven nuclear reactors and accelerated the closure of coal-fired plants, replacing them with unreliable and heavily subsidized wind and solar alternatives. When the Fukushima disaster occurred in 2011, the administration used it as a justification to further stall domestic nuclear progress.
The result was predictable: energy shortages and blackouts. According to Eaton’s “Blackout Tracker Annual Report,” the number of outages jumped sharply during Obama’s tenure, impacting more than 41 million Americans in 2011 alone – up from just 13.5 million in 2009. A University of Minnesota economist estimates that power outages cost the U.S. economy between $80 billion and $188 billion annually, amounting to total losses of up to $2.26 trillion across the Obama and Biden years.
To make matters worse, the regulations imposed on nuclear development remained frozen in time. Many date back to the 1970s, with no differentiation between conventional nuclear plants and emerging small modular reactors (SMRs). These outdated rules stifled innovation and dissuaded private investment in a sector that should be at the forefront of America’s energy renaissance.
That’s why Trump’s return to economic fundamentals – focusing on reliability, affordability, and security – has been a breath of fresh air for the nuclear industry.
Jacob DeWitte, CEO of Oklo, a startup building SMRs, welcomed Trump’s reforms. He cited the shortened permitting timeline as a game-changer: “We’re seeing private investment move into this space like never before.” Similarly, Isaiah Taylor, CEO of Valar Atomics, called for updated safety regulations that reflect the unique characteristics of modern reactors. His company’s “Operation Gigawatt” in Utah aims to deliver scalable, cost-effective nuclear solutions.
International experts are also taking notice. Dr. Börje Häggström, a Swedish physicist and former advisor to the International Energy Agency, praised Trump’s strategy, noting that nuclear power can “significantly” lower consumer prices and guarantee energy stability as AI and high-tech infrastructure drive up demand. Spanish energy analyst Dr. Jorge Simões Enciñias described Trump’s $75 billion nuclear expansion plan as “a significant driver of economic growth” and a critical tool for boosting America’s industrial competitiveness against China.
Trump’s executive orders call for quadrupling U.S. nuclear capacity by 2050. One directive requires licensing decisions for new reactors within 18 months – a radical shift from the bureaucratic gridlock that once paralyzed the sector. Another order calls for reevaluating excessive radiation standards and revising regulations to align with the Department of Government Efficiency.
Industry leaders are already responding. Westinghouse, based in Pennsylvania, plans to deploy ten large reactors to support the administration’s goals. At the same time, developers of smaller reactors propose grouping two or three SMRs together to compete with large-scale plants – potentially revolutionizing how we think about energy infrastructure.
After years of mismanagement, the United States is finally positioned to become an energy powerhouse again – not through subsidies or gimmicks, but by unleashing the power of American innovation and common sense.
The Biden years were marked by an obsession with climate virtue-signaling at the expense of working families and national resilience. Trump’s return to energy realism – and his push to revive and modernize nuclear power – offers not just a course correction, but a vision of abundance.
Ben Solis is the pen name of an international affairs journalist, historian, and researcher.
Read full article here