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The Independent
26-05-2025
- Business
- The Independent
Cruel Summer: AC costs expected to skyrocket to 12-year high across the US
The cost of using air conditioning across the nation is expected to hit its highest level in 12 years this summer. It may even reach a record high, according to energy industry experts. Skyrocketing prices come amid increasing demand due to higher temperatures and more oppressive humidity spurred by human-caused climate change. That demand is only projected to surge as Earth's atmosphere continues to heat up, thanks to the continued production of fossil fuels and other sources of polluting greenhouse gas emissions. 'We have found that consumers are going to be hit with the highest level in 12 years, possibly a record high for home cooling this summer, as the average cost of electricity is projected to reach $784, a 6.2 percent increase from $737 last year,' National Energy Assistance Directors Association (NEADA) and the Center for Energy Poverty and Climate (CEPC) said in a joint statement. 'After adjusting for inflation, the average family will see an increase of 4.2 percent.' The number of cooling degree days, when air conditioners might be necessary, has increased in hundreds of locations over the past 50 years, and heat and energy stress has resulted in days-long power outages with deadly consequences. The highest average costs are anticipated in the Northeast, South Central, and South Atlantic regions of the U.S. It is forecast to be a particularly hot summer for the majority of the country, including much of the West, Florida, and the Northeast. The groups cited two reasons for rising prices. First, that the cost of electricity is rising faster than average inflation. Second, that summer temperatures are continuing to result in severe and prolonged heat waves. It's a burden, they warned, that falls disproportionately on low-income families. Nearly 20 percent of low-income families have no air conditioning. 'The average energy burden for low-income households is about 8.6 percent of income, almost three times the rate for non-low-income households (3.0 percent),' the organizations said, noting that a recent survey had found the percentage of household that could not pay their energy bill for at least one month in the last year has increased, up from 21.4 percent to 25.3 percent. While the official poverty rate fell in 2023, the Census Bureau says there were still 36.8 million people living in poverty that year. The burden, the report said, falls to them because of a lack of access to affordable summer cooling systems, high electric bills, and cutbacks in the federal funding for the Low Income Home Energy Assistance Program. The program was reportedly included in recent Trump administration cuts to the Department of Health and Human Services. This summer, they said only 26 states and the nation's capital will offer cooling assistance. Furthermore, just 17 states and Washington, D.C., are slated to provide some level of protection against utility companies shutting offer electricity due to unpaid bills during sweltering summer months. This leaves low-income families in 33 states without protections to exposure to dangerous health conditions, including heat stroke and even death. More than 700 people die from extreme heat every year in the U.S., according to the Centers for Disease Control and Prevention. That's more than any other weather event. Notably, those who do have access to heating and cooling systems may also be behind on energy bills from the winter months, and the amount of money consumers owe their utilities has increased from $17.5 billion in January 2023 to $24 billion in March 2025. One out of six households in the U.S. are estimated to be behind on their energy bills, NEADA said. 'Put plainly, the situation for low-income households this summer looks dire. NEADA and CEPC are concerned that this summer could be deadly for many low-income households across the United States,' they concluded.
New Indian Express
16-05-2025
- Business
- New Indian Express
Traders urge Centre to impose reciprocal tariffs on carpets imported from Turkey
LUCKNOW: In the wake of Turkey's open support to Pakistan during Operation Sindoor, the Carpet Export Promotion Council (CEPC) has urged the Union government to impose reciprocal tariffs on machine-made carpets imported from there to ensure fair protection to Indian carpets in the domestic market. The CEPC also raised the issue of tariffs imposed by the Trump administration on Indian handmade carpets, weakening their global competitiveness. According to CEPC director Sanjay Kumar Gupta, a delegation of the council, led by chairman Kuldeep R Wattal, met minister of state for commerce Jitin Prasada, in the presence of Bhadohi MP Vinod Bind in New Delhi on Wednesday, to put forward the demands including imposing reciprocal tariffs on import of Turkey's machine-made carpets. He said the delegation also pointed out that by imposing reciprocal tariffs on machine-made carpets imported from Turkey, Indian carpets would get fair protection in the domestic market. The basic customs duty on machine-made carpets and other textile floor coverings from Turkey imported by India is 20%, he said, adding that Turkey, however, imposed a 46% duty on import of Indian carpets. Seeking immediate attention of the Indian authorities towards bilateral carpet trade with Turkey in view of the fast-dropping figures of carpet export to the country, the CEPC also wanted immediate intervention on the issue of tariffs imposed by Trump administration on Indian handmade carpets.
Time of India
15-05-2025
- Business
- Time of India
Export council for reciprocal tariffs on machine-made carpets from Turkiye
Varanasi: Carpet Export Promotion Council (CEPC) has urged govt to impose reciprocal tariffs on machine-made carpets imported from Turkiye to ensure fair protection for Indian carpets in the domestic market. CEPC also discussed how tariffs imposed by Trump administration on Indian handmade carpets weakened their global competitiveness. Talking to TOI on Thursday, CEPC director Shri Sanjay Kumar Gupta said, "With demands including imposing reciprocal tariffs on import of Turkiye's machine-made carpets, a delegation of the council led by its chairman Kuldeep R Wattal met minister of state for commerce Jitin Prasada, in the presence of Bhadohi MP Vinod Bind in New Delhi on Wednesday. It was a crucial meeting as many important issues of the carpet industry were pressed. " "We urged govt to step ahead for imposing reciprocal tariffs on machine-made carpets imported from Turkiye to ensure fair protection for Indian carpets in the domestic market," said Gupta, adding that the reason behind this demand was ground realities of bilateral carpet trade between India and Turkiye. The basic customs duty on machine-made carpets and other textile floor coverings from Turkiye imported into India is 20%, he said, adding, however, Turkiye imposes a 46% duty on import of Indian carpets. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 많이 빠진 치아, 인천에서 33만원으로 다시 시작할 수 있습니다 플란치과 더 알아보기 Undo CEPC sought immediate attention of govt towards bilateral carpet trade with Turkiye in view of the fast-dropping figures of carpet export to Turkiye. In 2015-16, India's carpet export to Turkiye was 17.08 million dollars, but since 2016-17, it started dipping, and in 2024-25 (till Jan end), this figure was 6.5 million dollars. However, the import figures show a rise in the import of carpets and other floor coverings from Turkiye. In 2015-16, the value of the import of carpets from Turkiye was 4.20 million dollars. The imports went up to 13.97 million dollars and 10.01 million dollarsin 2022-23 and 2023-24, respectively, and in 2024-25, it was 8.18 million dollars, said council office-bearers. CEPC also wanted immediate intervention of govt on the issue of tariffs imposed by the Trump administration on Indian handmade carpets, as it is increasing the threat of weakening their global competitiveness, said Gupta, referring to the trade figures. Except for 2021-2022, when the carpet export's value was 2232 million dollars, the annual export value since 2015-16 to 2024-25 remained between 1700 million dollars and 1800 million dollars. Over 50% of exports, especially of handmade carpets, are done to the USA, where the trend of export remained above $1000 million since 2020-21 till 2024-25. After the USA, the major importers of Indian carpets are European countries, including Germany, Canada, the UK, Australia, South Africa, France, Italy, and Brazil. CEPC members are not only worried because the reciprocal tariff imposed by US President Donald Trump will increase the cost of carpets for American buyers, but other major exporters of carpets, including Turkiye, which have a lower US tariff compared to India, will gain an advantage. Gupta said the cottage industry of carpet weaving generates employment for not only thousands of weavers and artisans but also farmers, who work on looms part-time for weaving. CEPC also raised the issues of the revival of the interest subvention scheme and highlighted the impracticality of the provision under Section 43B(H) of the Income Tax Act, which mandates payments to MSMEs within 45 days. They also requested the allocation of separate HS codes for handmade and machine-made carpets, which would enhance global transparency and give distinctive recognition to Indian craftsmanship. The delegation included Ashfaque Ahmad Ansari, Umesh Shukla, Sattar Ansari, Aseem Ansari (Bobby), Sadiq Ansari and Shahid Ansari.
