Today’s headlines: How states are fighting high power prices, and more

This roundup of U.S. energy news headlines is part of our Canary Media Daily newsletter. Sign up to get it in your inbox each morning.

FOSSIL FUELS

• The U.S. Energy Information Administration projects global oil production to return to normal levels by the end of the year, even as strikes against ships in the Strait of Hormuz continue. (Energy Information Administration, Axios)

• Ohio has generated $314 million in revenue from leasing about 22,000 acres of publicly owned lands to the oil and gas industry, mostly from one-time signing bonuses for mineral rights under a state park and wildlife areas. (Signal Ohio)

GRID

• Nearly every state has taken action so far this year to curb high electricity prices, including through large-load tariffs for data centers and energy-efficiency programs for low-income residents. (Utility Dive)

• Last week’s heat wave pushed electric demand to its second-highest level ever on the PJM grid and forced New York and New England’s grid operators to ask consumers to lower energy use to alleviate strain on the system. (E&E News)

• The DOE finalizes a $3 billion loan to help AEP Texas build out its transmission system to accommodate as much as 41 GW of new power load additions coming online through 2030. (news release)

• Manufacturers are experiencing double-digit power cost increases in PJM states as data centers drive up capacity prices. (Reuters)

EMISSIONS

• The 11 East Coast states participating in the Regional Greenhouse Gas Initiative will share a record-high $1.3 billion for climate programs raised in its latest auction of allowances for carbon pollution. (E&E News)

ELECTRIC VEHICLES

• Rivian stock plunges 18% as the EV maker puts another 75 million shares on offer, following weeks of gains for the company. (Heatmap)

LOBBYING

• The American Clean Power Association plans to push for new federal incentives that would boost transmission and domestic manufacturing throughout the rest of the Trump administration, as restoring clean energy tax credits remains far-fetched for the next two years. (E&E News)

AFFORDABILITY

• New Jersey Gov. Mikie Sherrill (D) signs three energy bills aimed at lowering electric bills, increasing oversight of utilities, and ensuring that data centers shoulder the costs they impose on the grid. (New Jersey Globe)