On April 4, 2025, the Turkish Energy Market Regulatory Authority (EPDK) announced that starting April 5, retail electricity prices in the country will increase due to higher generation and distribution costs.
New tariffs for household consumers will increase by 25%, for public and private services by 15%, for industrial consumers by 10%, and for agricultural activities by 12.4%. As a result of the tariff increase, a residential customer consuming 100 kWh of electricity will now pay 259.04 lira ($6.74).
In addition, natural gas prices have also risen. Industrial consumers faced an average increase of 20%, while for power plants the cost of gas jumped by 24.2%.
Meanwhile, the tariff for household consumers of natural gas will remain unchanged (5,631 liras, or $149 per 1,000 cubic meters), and the Turkish oil pipeline corporation BOTAS will not adjust prices for distribution companies in April.
As a reminder, the last time Turkey adjusted gas prices was in August 2024. At that time, wholesale prices increased for companies whose annual consumption does not exceed 300 thousand cubic meters (except for electricity producers) by 33.1% compared to previous price levels.
The previous increase was in October 2023 – by 20%. At that time, the cost of gas also increased for electricity producers, small and medium-sized businesses. At the same time, the wholesale price for natural gas for household use remained unchanged. The price of electricity was also increased by 20%.
In 2024, Turkish steelmakers increased steel production by 9.4% compared to 2023, to 36.89 million tons. Pig iron production in the country increased by 17.2% y/y last year – to 10.19 million tons. The average monthly steel production amounted to 3.07 million tons compared to 2.81 million tons in 2023, and pig iron production was 848.8 thousand tons and 724.2 thousand tons, respectively. Most of Turkey’s capacity is electric arc, which increases the dependence and margins of producers on electricity prices.
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