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Abstract Baroclinic or extratropical cyclones (ETCs) transport heat and moisture to higher latitudes, making it fundamentally important to understand how their influence changes as Earth's climate evolves. A 2–8‐day Lanzcos bandpass filter is applied to European Center for Medium Range Weather Forecasting 5th Generation Reanalysis latent energy (LE) and kinetic energy (KE) data to assess how ETCs have changed from 1940 to 2020 relative to full‐scale changes in LE and KE. Full‐scale KE trends are more positive at high latitudes relative to mid‐latitudes, confirming several previous studies that ETCs have shifted poleward. LE increases have occurred globally, and trends in both full‐scale LE and KE are statistically significant in the southern high latitudes. The high relative fractional contribution of 2–8‐day LE wave power and trend clearly suggest that ETCs have an increasingly important role in poleward moisture transport but are not solely responsible for the observed statistically significant increases.