On January 1, Turkey raised the electricity price of households and companies by 50% – 100% on Saturday, and raised the monthly natural gas price again, making the domestic economy more nervous in the face of soaring overall inflation.
According to the Turkish energy market regulatory authority, the electricity price of households with small demand will increase by about 50% in 2022, while that of commercial users with large demand will increase by more than 100%.
Botas, Turkey’s state-owned pipeline operator, announced that in January, the price of natural gas used by residents increased by 25%, the price of natural gas used by industry increased by 50%, and the price of natural gas used by power plants increased by 15%.
In recent months, Turkey has experienced lira crisis due to a series of unorthodox interest rate cuts implemented by Erdogan government. The annual inflation rate jumped to more than 21% in November 2021 and exceeded 30% in December.
(interface News)
