Turkey hikes electricity, natural gas prices by 9-14 pct


Turkey’s energy regulator will raise electricity prices by 14 percent for industrial use and 9 percent for residential use from Sept. 1, according to figures published in the government’s Official Gazette overnight.

Natural gas prices have also increased. Similarly, the hike will be 9 percent for houses and 14 percent for industry, Turkey’s state pipeline operator Botaş said in a statement on Sept. 1.

The rate hikes, which will further feed double-digit inflation, highlight another impact of Turkey’s on-going currency crisis. The lira currency has fallen some 42 percent this year, hitting energy producers hard as Turkey is almost wholly reliant on imports for its energy needs.


Please enter your comment!
Please enter your name here