EU cutting its electric bill
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LISA NAPOLI: Get ready for strict new energy efficiency targets for things like household appliances and automobiles in Europe. The new rules could have repercussions for the rest of the world. From Berlin, Kyle James reports.
KYLE JAMES: The EU wants to cut its energy bill by $125 billion. So tomorrow, Brussels will announce regulations setting stricter energy efficiency requirements for 14 products, including computers, washing machines and AC units.
Manufacturers will have a five-year deadline to produce products that consume less energy. If they don't, the goods might be pulled from the market.
The regulations could lead to new global standards, since all imports into the EU would have to meet its efficiency requirements.
That's according to energy analyst Christian Egenhofer.
CHRISTIAN EGENHOFER: You can be sure there will be enormous tensions between the EU and the U.S. on standards because we're talking directly about market share, exports, imports and these kinds of matters.
Manufacturers prefer the voluntary system already in place. They say more regulation could put them in a straightjacket.
In Berlin, I'm Kyle James for Marketplace.