Turkey’s state pipeline operator BOTAŞ hikes the price of natural gas used for electricity production by 50 percent.
The price hike was "inevitable" due to a weaker lira pushing oil and natural gas prices higher, as Turkey is mostly dependent on energy imports, energy sources told Reuters news agency.
BOTAŞ said later on Tuesday it had raised natural gas prices for residential use by 9 percent effective Aug. 1.
The increased prices are based on an exchange rate of 4.86 lira to the dollar, but the payments of producers will be calculated based on the official spot rate of the payment day, Reuters said.
Also on Tuesday, the energy regulation authority raised electricity prices by 14 percent for industrial use and by 9 percent for residential use effective Aug. 1, the Official Gazette said.
Almost a third of Turkey’s total 293 billion megawatt power production came from natural gas power plants in 2017.