Al-Marsad Newspaper – Agencies: Turkey raised electricity prices by rates ranging between 50 and 100 percent for home use and for companies on Saturday, and again raised prices in monthly natural gas bills, which increases the burdens in an economy reeling under the weight of high inflation.
The country’s energy regulator said that electricity prices increased by about 50 percent for low-consumption domestic use in 2022, while they increased by more than 100 percent for high-consumption industrial use.
In a separate report, Turkish state pipeline company Botas noted that natural gas prices jumped 25 percent for domestic use and 50 percent for industrial use in January. The increase in gas prices used to produce electricity was 15 percent. According to the “Al Sharq” website
Turkey’s annual inflation jumped above 21 percent in November and appeared to top 30 percent in December, after a collapse in the value of the currency in the past few months as a result of a series of unconventional interest rate cuts.