ISTANBUL, April 3 (Xinhua) -- Türkiye's Energy Market Regulatory Authority (EPDK) and the state energy company BOTAS announced substantial price increases for electricity and natural gas on Friday, citing rising global and domestic energy costs.
The new tariffs, scheduled to take effect on Saturday, will see the sharpest increases affecting residential consumers and the agricultural sector.
According to the EPDK, electricity prices for residential subscribers will rise by 25 percent, while those for agricultural activities will increase by 24.8 percent. Public and private services connected to low-voltage grids will see a 17.5 percent hike. In contrast, medium-voltage industrial users will face a more modest adjustment of 5.8 percent.
Simultaneously, BOTAS announced that wholesale natural gas prices for residential consumers will increase by an average of 25 percent. The state utility also confirmed it is transitioning to a tiered pricing system for households to manage consumption.
The industrial sector will also face higher gas costs, with prices for industrial consumers rising by an average of 18.61 percent, while natural gas used for electricity generation will see a 19.42 percent increase.
Energy authorities attributed the adjustments to the sustained upward pressure on production and distribution costs within the energy market. The move followed a surge in global energy benchmarks, driven by supply chain concerns in the Strait of Hormuz, a critical artery for global oil and fuel flows.
