The U.S. Department of Energy (DOE) announced that its Office of Energy Dominance Financing (EDF), previously known as the Loan Programs Office, is restructuring more than $83 billion in loans and conditional commitments made during the Biden administration. This decision follows a year-long review of $104 billion in loan obligations, much of which was committed after Election Day.
According to the DOE, the review aimed to ensure responsible use of taxpayer funds and align investments with current administration priorities. Secretary Wright stated, "Over the past year, the Energy Department individually reviewed our entire loan portfolio to ensure the responsible investment of taxpayer dollars. We found more dollars were rushed out the door of the Loan Programs Office in the final months of the Biden Administration than had been disbursed in over fifteen years. President Trump promised to protect taxpayer dollars and expand America’s supply of affordable, reliable, and secure energy. Thanks to the Working Families Tax Cut, the newly re-structured Energy Dominance Financing is playing a key role in fulfilling that mission."
As part of this process, EDF has eliminated about $9.5 billion in government-backed wind and solar projects and is shifting focus toward natural gas and nuclear upgrades. The office reports it has already completed or started de-obligating nearly $30 billion from previous commitments, with another $53 billion under revision.
EDF now oversees more than $289 billion in available loan authority, making it one of the largest energy lenders globally. The expanded funding comes as a result of changes brought by President Trump’s Working Families Tax Cut. The department says its new direction will focus on lowering electricity costs, encouraging private sector investment, advancing artificial intelligence efforts, strengthening industry, and restoring what it calls American Energy Dominance.
Further information from EDF is available on their website.
