Al-Marsad Newspaper – News Agencies: Turkish households and businesses faced a significant blow on Saturday as electricity costs surged by 50% to 100%, compounding the strain from another hike in monthly natural gas charges. This latest increase further burdens an already struggling economy grappling with soaring inflation.
The national energy regulatory body announced that residential electricity rates for low-consumption users climbed approximately 50% in 2022. Conversely, high-consumption industrial users experienced price increases exceeding 100%.
In a different announcement, the Turkish state-owned pipeline operator, Botas, declared a 25% rise in natural gas prices for residential consumers and a 50% jump for industrial users, effective January. Electricity generation, using this gas, saw a 15% price hike. This information comes via the “Al Sharq” online publication.
Turkey‘s yearly inflation rate rocketed beyond 21% in November and seemingly surpassed 30% in December. This follows a recent sharp decline in the Turkish lira’s value, triggered by a series of unorthodox interest rate reductions.
