Turkey’s electricity consumers have been whacked with a 14.9% price hike from October 1, with the result that electricity prices have gone up by more than 60 percent during the past two years.
The Turkish Energy Market Regulatory Authority (EPDK) said in a statement on Monday that the price hike is expected to be effective until December 31 this year, affecting all users.
The selling price from producers to distribution companies increased from 20.5 kurus (one-hundredth of the Turkish lira) to 35 kurus per kilowatt-hour, marking a 70 percent increase in the wholesale selling.
The EPDK previously raised the electricity prices by 15 percent on July 1.
With the latest increase, the price of electricity has risen by 60.9 percent in the past two years.
The EPDK, an autonomous public legal entity with administrative and financial authority, is Turkey’s market regulator which is established to regulate and monitor electricity, natural gas, petroleum, and liquid petroleum gas markets.