Turkey’s energy bourse sees trade volumes up, mulls gas market
BUCHAREST - ReutersTurkey’s Istanbul-based energy exchange expects its power trade volumes to increase by 10 percent this year to around 110 terrawatt-hours (TWh), the bourse official said on June 16.
The exchange, which was established early in 2015, has 882 active market participants trading power in Turkey, and expects the number to go up later this year when it will launch a natural gas spot market.
The bourse operates day-ahead, intra-day and balancing market. Kürşad Derinkuyu, the advisor to the bourse chief executive told Reuters it is in discussion about coupling its market with some of the neighboring countries.
“We are hoping it to help establish a reference price,” Derinkuyu said.
Turkey, the world’s 17th largest economy according to data from the World Bank, imports more than 70 percent of its energy needs, at an annual cost of about $50 billion.
It needs investments of around $110 billion into the energy sector to meet increasing demand by 2023, officials have said. The country has put in place a generous scheme of feed-in tariffs and other incentives to attract investors.