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4.2 Inflation
Turkey’s government-run natural gas monopoly Botas hiked its gas prices for all customer groups, with the higher tariffs taking effect as of September 1. As a result of the changes, the gas price for industry has risen by 672% y/y, 771% y/y for power plants and 174% y/y for households.
Starting October 1, Botas linked the tariffs to the “daily reference price” at the energy exchange EPIAS, which effectively translates into a 25% increase for the tourism industry and a 50% rise for the steel, glass and cement industries.
Also on September 1, Turkey’s energy watchdog EPDK hiked electricity price for all consumer groups. As a result, electricity prices (low voltage, single term, single phase) were hiked by:
● 55% y/y to TRY 4,059/MWh for industry (up 526% y/y),
● 34% y/y to TRY 3,267/MWh for legal persons, including small
merchants, (up 362% y/y),
● 24% y/y to TRY 1,975/MWh for households (up 316% y/y),
● 23% y/y to TRY 2,206/MWh for agriculture (up 218% y/y),
● 34% y/y to TRY 3,018/MWh for lighting (up 366% y/y).
31 TURKEY Country Report October 2022 www.intellinews.com
