Gas, electricity prices hiked

Gas, electricity prices hiked

Gas, electricity prices hiked

Natural gas and electricity prices have been hiked, authorities have announced, citing rising costs globally.

Electricity prices for households were increased by 20 percent, effective Sept. 1, the Energy Market Regulatory Authority (EPDK) said in a statement.

Under the new tariff, households will pay 173.5 Turkish Liras/100 kilowatts per hour.

Prices for industry were also hiked by 50 percent and for other consumers in the public and private sector by 30 percent.

The EPDK said the war in Ukraine has affected the global energy market and pushed up the cost of energy production.

Prices needed to be adjusted as per raw materials used in electric generation, the authority added.

The Petroleum Pipeline Corporation (Botaş) said it had hiked the natural gas price for households by 20.4 percent and small- to medium-sized companies by 47.6 percent.

Prices were also increased by 50.8 percent for industrial users and for the gas used electricity production by 49.5 percent.

More than 99 percent of natural gas is imported, Botaş reminded in a statement, adding that global gas prices have increased around 2,000 percent compared to the pre-pandemic due to strong demand. It also cited the adverse effects of the Ukraine war.

Record power production from renewables

Separately, Energy Minister Fatih Dönmez said that electricity generation from renewable sources reached an all-time high in July.

Electricity production from solar power exceeded 2 million kilowatts hour, while generation from wind power stood at 4.24 billion kilowatts hour, Dönmez wrote on Twitter.

The share of solar and wind power in total power generation climbed to a record 21.6 percent, according to the minister.

Türkiye’s installed electricity capacity increased from 31,846 MW in 2002 to 101,815 MW. Installed solar power capacity rose from only 40 MW in 2014 to 8,659 MW, while the country boosted its wind power installed capacity from 19 MW back in 2012 to 11,054 MW.

Türkiye is reaping the rewards of steps it has taken to reduce its energy dependency, said Dönmez.

The country ranks fifth in Europe and 12th in the world in renewables installed capacity, according to the minister.

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