Hyundai and Kia have agreed to pay a record $100 million civil fine under the Clean Air Act to settle allegations that it overstated the mileage of certain 2012 and 2013 model year vehicles, the Environmental Protection Agency said Monday.
The companies, part of the South Korea-based Hyundai Motor Group, will also spend $50 million to correct their certification process and forfeit more than $200 million worth of greenhouse gas credits, the agency said in a joint statement with the Justice Department.
EPA said the claimed mileage for some 1.2 million vehicles was overstated from one to six miles per gallon, based on tests it conducted in 2012. The companies revised their mileage estimates downward for 2011-2013 model year cars and sport utility vehicles, and reimbursed owners for their additional fuel costs.
The companies did not admit liability in the settlement and maintained that they complied with the law.
The settlement is subject to a 30-day comment period and review by the U.S. District Court for the District of Columbia.
American Council for an Energy-Efficient Economy holds media teleconference to release its annual State Energy Efficiency Scorecard. Speakers include NARUC President Colette Honorable, Massachusetts Gov. Deval Patrick, DOE Deputy Assistant Secretary for Energy Efficiency Kathleen Hogan.
Proposed new regulations from the Department of Energy, published in Tuesday’s Federal Register seeking public comment, would cover energy conservation standards for some water heaters, while others would target certain fluorescent lamps, The Hill reports.
In setting efficiency standards for power cords used in consumer electronics, the Department of Energy has filed a proposed rule in the Federal Register that updates testing procedures to cover new cables designed for rapid charging, The Hill reports.
STOCKHOLM (AP) — An invention that promises to revolutionize the way the world lights its homes and offices — and already helps create the glowing screens of mobile phones, computers and TVs— earned a Nobel Prize on Tuesday for two Japanese scientists and a Japanese-born American.
By inventing a new kind of light-emitting diode, or LED, they overcame a crucial roadblock for creating white light far more efficiently than incandescent or fluorescent bulbs. Now LEDs are pervasive and experts say their use will only grow.
Short-covering and the expiration of the front month contract helped power oil prices to a huge gain Friday. West Texas Intermediate crude for January delivery shot up 5 percent, or $2.41, to settle at $56.52 a barrel on the Nymex, while in London February Brent finished $2.11 higher at $61.38, Reuters reports.
Oilfield services company Baker Hughes reported Friday that 1,875 rigs were drilling for oil and gas in the U.S. this week, a drop of 18 and the second week in a row that the number has fallen, FuelFix reports.
Comparing present-day statistics with numbers during the oil bust in the mid-1980s has led JP Morgan Chase economist Michael Feroli to warn that Texas could slip into a regional recession next year, FuelFix reports.
Job losses in the power generation sector over the past three years topped 5,800, according to data released by the Energy Information Administration Friday, which said all parts of the industry were affected other than renewable energy, The Hill reports.
Avenue Capital, the hedge fund run by Marc Lasry that specializes in buying distressed companies’ debt, is raising $750 million for a fund that will focus on the energy sector, according to the Pennsylvania Public School Employees’ Retirement Board, which confirms it has put in $200 million, the New York Post reports.
Tesla is testing the market for battery swaps: Near California supercharging stations where Model S owners can top up their batteries for free, the company is creating a facility where drivers can pay a cost equivalent to a tank of gasoline and get a fully-charged battery installed in three minutes, The Wall Street Journal reports.
The growth of global carbon emissions slowed in 2013 -– although the total of 35.3 billion tons did set a record -- and the rate of increase tailed off despite an uptick in economic activity, says a report from the European Commission’s Emissions Database for Global Atmospheric Research, or EDGAR, according to E&E.
INEOS hopes to get commercial shale gas production under way in Britain before the end of the decade, according to documents the government released Friday, which detailed the company’s presentation to the Department of Energy and Climate Change in February, Platts reports.