IPANEWS

Government increases electricity prices by 37 percent after election

Despite contradictory promises from the government, electricity prices have increased by 37 percent in Turkey shortly after Sunday’s local elections, Gazete Duvar reported.

Just one week before the local elections, Minister of Energy and Natural Resources Fatih Dönmez said, “Both natural gas and electricity tariffs will not be changed in the near future. I
want to announce that to our people,” Anadolu Agency (AA) reported.

Turkey’s Energy Market Regulatory Authority (EPDK) stated that consumers will not be affected by this rise. However, according to the Official Gazette report, power producers sell
electricity to power distributors at an increased rate, therefore the increase will also be
reflected on consumers’ invoices showing the 37 percent increase.

The selling price from producers to distribution companies increased from 12,6335 kurus (one-hundredth of the Turkish lira) to 17,2700 kurus per kilowatt-hour.

The economy shrank for two straight quarters in the second half of last year, signifying a technical recession and annual inflation stands at almost 20 percent.

In Sunday’s local elections, President Recep Tayyip Erdoğan’s government suffered major losses despite its alliance with the Nationalist Action Party (MHP) garnering more than 50 percent of the total vote.

Erdogan is the only reason for high interest rates: Turkish economist

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