During former President Donald Trump’s recent visit to a New York City barbershop, the store’s owner raised concerns about increases in electricity costs, stating that his monthly energy bills had skyrocketed from $2,100 to $15,000 since the Biden administration took office. While electricity prices in New York have gone up since Trump left the White House, some have questioned the accuracy of a more than 600% hike in energy expenses.
Back in 2020, the average retail price of electricity for commercial use in New York state was approximately 15 cents per kilowatt hour (kWh). Today, the average has risen to around 21 cents per kWh, which is 51% higher than the national average.
Calculations based on 2020 electricity prices suggest that the barbershop would have been using approximately 14,000 kWh annually—consistent with the average consumption for a small business with around 11 employees, which stands at 15,000 kWh.
If the current $15,000 energy bill is accurate, this would imply a significant increase in electricity usage, reaching around 71,400 kWh per year. This level of a power consumption increase would be equivalent to adding the annual energy needs of more than five typical households.
Assuming the barbershop’s energy consumption rate has remained consistent since 2020, the estimated total annual cost today should be closer to $3,000, reflecting higher rates that could strain the average American’s bottom line, but not to the extent claimed.