Latest news with #EPCA
Finextra
3 days ago
- Business
- Finextra
European Card Payment Association calls for EU payments sovereignty
The European Card Payment Association (EPCA) has called for a strong stance on payments soveriegnty across the bloc amid ongoing geo-political turmoil and fall out from Trump tarrifs. 3 The EPCA has released a white paper which shows that in 2024 there were over 263 million European Card Scheme (ECS) payment cards in circulation, which made 31.5 billion transactions last year alone. However, the payments space is dominated by Visa and Mastercard, who between them process 65% of euro area card payments, while US tech giants such as Apple, Google and PayPal are also gaining popularity. The EPCA's paper explores the urgent need to protect the sovereignty over payment infrastructure in Europe offered by ECSs, amid challenges such as the current American administration's increasingly isolationist approach or unpredictable geopolitical events such as the ongoing conflict in Ukraine. The strategy calls for the development of a comprehensive payments and industrial policy that ensures at least one EU-based payment method is always available to European consumers and businesses alongside the continued development and widespread adoption of European open standards, such as CPACE. This should be coupled with regulatory measures that focus on ensuring a level playing field between ECS and global players as well as mechanisms to facilitate infrastructure sharing and cross-border acceptance agreements between European stakeholders. The white paper's conclusions align with the European Commission's focus on strategic autonomy in payments. It launches as Christine Lagarde,pPresident of the European Central Bank, called in April for a 'march towards independence' from international payment platforms. It's a message backed by the bank-backed European Payments Initiative, which in April called on local European digital payment networks to co-operate in building a shared merchant acceptance infrastructure, ensuring interoperability, scalability, and cross-border functionality Juan Carlos Martín, chairman, ECPA, comments: 'To safeguard Europe's financial future, resilience and autonomy, particularly at a time when economic relationships between nations can quickly sour, it is of the utmost importance that the sovereignty and cooperation unique to Europe's card schemes is enthusiastically supported by all stakeholders. "Control over payment infrastructure is inseparable from true economic sovereignty, and financial and regulatory institutions across the continent must prioritise collaboration that achieves this for the entire European continent.' The call for action has been heeded by Giesecke & Devrient, which has announced plans to launch a multi-application card offering access to local domestic networks for in-store and online purchases across several countries. Stella (Sovereign Technical European initiative Leveraging Local Assets), connects with over 300 million cards criculated by domestic European card schemes. The card will also offer full interoperability with Visa and Mastercard "but only where necessary".
Finextra
3 days ago
- Business
- Finextra
European Card Payment Asociation calls for EU payments sovereignty
The European Card Payment Association (EPCA) has called for a strong stance on payments soveriegnty across the bloc amid ongoing geo-political turmoil and fall out from Trump tarrifs. 2 The EPCA has released a white paper which shows that in 2024 there were over 263 million European Card Scheme (ECS) payment cards in circulation, which made 31.5 billion transactions last year alone. However, the payments space is dominated by Visa and Mastercard, who between them process 65% of euro area card payments, while US tech giants such as Apple, Google and PayPal are also gaining popularity. The EPCA's paper explores the urgent need to protect the sovereignty over payment infrastructure in Europe offered by ECSs, amid challenges such as the current American administration's increasingly isolationist approach or unpredictable geopolitical events such as the ongoing conflict in Ukraine. The strategy calls for the development of a comprehensive payments and industrial policy that ensures at least one EU-based payment method is always available to European consumers and businesses alongside the continued development and widespread adoption of European open standards, such as CPACE. This should be coupled with regulatory measures that focus on ensuring a level playing field between ECS and global players as well as mechanisms to facilitate infrastructure sharing and cross-border acceptance agreements between European stakeholders. The white paper's conclusions align with the European Commission's focus on strategic autonomy in payments. It launches as Christine Lagarde,pPresident of the European Central Bank, called in April for a 'march towards independence' from international payment platforms. It's a message backed by the bank-backed European Payments Initiative, which in April called on local European digital payment networks to co-operate in building a shared merchant acceptance infrastructure, ensuring interoperability, scalability, and cross-border functionality Juan Carlos Martín, chairman, ECPA, comments: 'To safeguard Europe's financial future, resilience and autonomy, particularly at a time when economic relationships between nations can quickly sour, it is of the utmost importance that the sovereignty and cooperation unique to Europe's card schemes is enthusiastically supported by all stakeholders. "Control over payment infrastructure is inseparable from true economic sovereignty, and financial and regulatory institutions across the continent must prioritise collaboration that achieves this for the entire European continent.'
Time of India
21-05-2025
- Business
- Time of India
Americans may be staring at $43 billion in higher utility bills as the US government plans to rollback several energy policies in "largest deregulatory effort in history"
The Trump administration's push to dismantle 12 energy efficiency standards may face significant legal hurdles due to the Energy Policy and Conservation Act's (EPCA) anti-backsliding provision, which prohibits weakening established efficiency rules. Environmental and consumer advocacy groups are expected to challenge the rollbacks in court, arguing that the Department of Energy's (DOE) actions violate federal law. According to a report in The Verge, the DOE's proposals, part of what it calls its 'largest deregulatory effort in history,' have already sparked controversy, with critics warning of long-term economic and environmental consequences. On May 1, 2025, President Donald Trump signed a presidential memorandum instructing the DOE to halt enforcement of several efficiency standards targeted for revision or elimination. This directive aligns with the administration's broader deregulatory agenda but has drawn criticism for undermining decades of progress in energy conservation. The DOE has not yet responded to inquiries from The Verge regarding the rollback plans or their potential impacts. Energy Star Program may be 'killed' Adding to the controversy, reports surfaced in May 2025 that the Environmental Protection Agency (EPA) plans to terminate the Energy Star program. This voluntary certification, which identifies energy-efficient products, reportedly saves the average household in America approximately $450 annually on energy bills. The program's potential closure, combined with the DOE's rollbacks, signals a broader retreat from energy efficiency initiatives. Consumer Costs vs Promised Savings The Appliance Standards Awareness Project (ASAP) estimates that scrapping these 12 standards could cost households and businesses $43.2 billion in higher electricity bills over the lifetime of affected products. This figure starkly contrasts with the DOE's claim that deregulation would save $11 billion by eliminating 'burdensome and costly' rules. ASAP's deputy director, Joanna Mauer told The Verge, 'The department is looking at the savings these rollbacks would provide while completely ignoring the costs. It turns out that the costs would be nearly five times greater than the savings.' How Efficiency Standards Work and Why They Matter Energy efficiency standards set minimum performance requirements for appliances, ensuring they consume less energy while maintaining functionality. These rules cover a wide range of products, including microwave ovens, cooking tops, air purifiers, dehumidifiers, battery chargers, and portable air conditioners. For example, the 2020 efficiency standard for portable air conditioners was projected to cost consumers $1 billion upfront due to higher purchase prices but save $4.1 billion in energy bills over 30 years, yielding a net savings of $3.1 billion. ASAP's analysis, reportedly based on DOE's own data, shows that the 12 targeted standards would collectively deliver $43.2 billion in net savings. DOE's Deregulatory Agenda Divides In a recent announcement, Secretary of Energy Chris Wright defended the rollbacks, stating, 'We are bringing back common sense — slashing regulations meant to appease Green New Deal fantasies, restrict consumer choice and increase costs for the American people.' The DOE argues that eliminating these standards reduces manufacturing costs and provides consumers with more affordable, less efficient options. However, ASAP contends that this approach ignores the long-term financial burden of higher energy consumption, particularly for low-income households that spend a larger share of their income on utility bills. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Verge
12-05-2025
- Business
- The Verge
Trump administration announces ‘illegal' rollback of energy and water efficiency standards
The US Energy Department says it's rolling back long-standing efficiency standards for appliances, which advocates are calling a clear violation of the law. Continuing the Trump administration's assault on federal water and energy efficiency programs, the department announced today what it's calling its 'largest deregulatory effort in history.' The agency is trying to rollback 47 regulations it says are 'burdensome and costly,' including more than a dozen efficiency standards for appliances and battery chargers. The proposed rules target the Energy Policy and Conservation Act (EPCA), which contains an anti-backsliding provision — and that the Trump administration is seemingly trying to bypass. 'If this attack on consumers succeeds, President Trump would be raising costs dramatically for families as manufacturers dump energy- and water-wasting products into the market. Fortunately, it's patently illegal, so hold your horses,' Andrew deLaski, executive director of the Appliance Standards Awareness Project, said in a press statement released today. 'Fortunately, it's patently illegal, so hold your horses.' The Energy Department didn't immediately respond to a press inquiry from The Verge asking why it believes its proposals do not violate EPCA, which passed Congress in 1975 and had the anti-backsliding provision added in 1987. However, drafts of proposed rules on the Federal Register's website say that it wants to return standards to previous limits set by Congress. In some cases, doing so could eliminate decades of energy and water saving standards, deLaski tells The Verge. A proposed rule for commercial clothes washers, for instance, would bring water conservation standards back to a 'statutory baseline' set in 2007. Other rules target microwave ovens, conventional ovens, dish washers, faucets, portable air conditioners, and more. The law's anti-backsliding provision stipulates that the energy secretary can't amend a standard in a way that 'increases the maximum allowable energy use' or 'decreases the minimum required energy efficiency' of a covered product. In other words, the agency can't issue rules that are weaker than they were before. In many cases, the Energy Department has updated standards initially set by Congress as more efficient technologies became available — which it's required to do by law if it is 'economically justified.' The rules proposed today attempt to go back to limits set by Congress years ago, undoing tougher standards set more recently. The Energy Department is also attempting to get rid of standards altogether in cases where limits weren't explicitly set in law by Congress. In the proposed rule for commercial clothes washers, the agency argues that the anti-backsliding provision applies to energy efficiency but not water standards. 'Water use has nothing to do with the energy consumed by a clothes washer. Therefore, the anti-backsliding provision does not apply,' it says. The agency still needs to open up its rules for public comment before attempting to finalize them, and is likely to face legal challenges. Courts have previously weighed in on the strength of the anti-backsliding provision. A 2004 decision from a federal appeals court says EPCA 'unambiguously' constrains the Energy Department's ability to weaken efficiency standards once they are published as final rules in the Federal Register. 'We're seeing the wholesale abandonment of a dozen-plus energy efficiency standards without any justification, and that absolutely violates the anti-backsliding provision,' says Kit Kennedy, who was one of the attorneys in the 2004 case and is currently a managing director at the Natural Resources Defense Council. The move follows a presidential memorandum Trump signed on Friday that takes aim at water use rules and related energy efficiency standards, as well as news that the Environmental Protection Agency plans to wind down the Energy Star program. Experts warn that the proposed rules could lead to higher utility bills for consumers. While a program like Energy Star can help people choose more efficient appliances, standards the Trump administration is now targeting are supposed to ensure that more efficient technologies are accessible to anyone regardless of what they can afford to purchase. Appliance energy efficiency standards have been a great success. They save households on their electricity bills every month,' Michael Gerrard, founder and faculty director of the Sabin Center for Climate Change Law at Columbia University says in an email to The Verge. 'Refrigerators are just as cold and just as large as they ever were but they are now much cheaper to run.'
Epoch Times
05-05-2025
- Business
- Epoch Times
Energy Department Revokes Biden-Era Rules on Outdoor Heaters, Decorative Hearths
The Department of Energy (DOE) has lifted regulations on decorative hearths and outdoor heaters that imposed 'burdensome' energy conservation standards on these items, the agency said in a May 2 The Energy Policy and Conservation Act (EPCA) grants the DOE the authority to add consumer products to a list of 'covered items,' said a department In February 2023, the DOE finalized coverage for miscellaneous gas products (MGPs), which include decorative hearths and outdoor heaters. On May 2, the DOE announced it was withdrawing miscellaneous gas products as a covered consumer product under the Energy Policy and Conservation Act. As such, these items won't be subjected to 'a range of unnecessary regulations on their manufacture and sale,' it said in the statement. The updated policy 'will allow the market for these products to freely develop without needing to account for new conservation standards from DOE,' it said. The department's decision comes after President Donald Trump Related Stories 5/5/2025 5/3/2025 The action aims to 'alleviate unnecessary regulatory burdens' on Americans. It asked agencies to identify at least 10 existing regulations to repeal for every newly proposed regulation. Commenting on the DOE decision rescinding rules on miscellaneous gas products, Secretary of Energy Chris Wright said that 'under President Trump's leadership, the Department of Energy is returning to common sense—and that means giving the American people the ability to choose which heaters they use in their own backyards.' 'To date, rescinding or delaying unnecessary consumer regulations such as this has saved the taxpayers nearly $24 billion—and we're just getting started,' he said. The DOE said the rule was withdrawn after considering comments on the matter from various parties, according to the notice. In an April 14 The items are 'a mishmash of materially different products that cannot reasonably be treated as a single product for purposes of regulatory analysis or coverage,' it said. For instance, 'decorative hearth product' consists of various items such as vented gas fireplaces, indoor log sets, and fire tables,' the association said. Activist groups Earthjustice and the Appliance Standards Awareness Project dismissed these arguments in an April 14 posted EPCA names 'motors and pumps' as a single type of covered equipment, even though 'these products have functions that overlap just as decorative hearth products and outdoor heaters do,' the groups said. Similarly, EPCA also groups battery chargers and external power supplies under a single heading, even though the functions of these products vary, the comment said. Nonetheless, the groups concluded by saying, 'We do not object to the proposed action,' while asking for better oversight procedures. After assessing comments, the DOE eventually concluded that outdoor heaters and decorative hearth products 'are not similar enough in function to be grouped together for the purposes of establishing a new type of covered product.' As such, it decided to withdraw the miscellaneous gas products rule. Crackdown on Regulations Under the Trump administration, agencies have taken action against various regulations on a host of appliances and other consumer products. On March 25, the DOE further postponed the effective dates of three Biden-era home appliance mandates related to central air conditioners and heat pumps, walk-in coolers and freezers, and gas instantaneous water heaters. The decision was aimed at lowering costs and expanding options for Americans, the DOE said at the time. In 2023, consumer watchdog Alliance for Consumers estimated that then-President Joe Biden's regulations on appliances such as water heaters, air conditioners, gas stoves, and other devices cost the average American household more than $9,100. More recently, on April 9, Trump Trump criticized the rules for high-efficiency water faucets, saying they essentially use the same amount of water as the products targeted for replacement. 'It's ridiculous. And what you do is you end up washing your hands five times longer, so it's the same [amount of] water,' Trump said. The same day, the president signed an executive order instructing 10 agencies to add a one-year expiration date to all existing energy regulations. 'Agencies will extend only those regulations that affirmatively serve American interests. The rest will expire, resetting the regulatory landscape,' said a White House Fact sheet.
