Energy policy of Turkey

Natural gas Türkiye discovered in the Black Sea is worth more than $500 billion and is large enough to supply all homes in the country with gas for 35 years, Energy and Natural Resources Minister Fatih Dönmez has said.

Natural gas and electricity prices have been hiked, authorities have announced, citing rising costs globally.

Electricity prices for households were increased by 20 percent, effective Sept. 1, the Energy Market Regulatory Authority (EPDK) said in a statement.

Under the new tariff, households will pay 173.5 Turkish Liras/100 kilowatts per hour.

Nearly half of Turkey's electricity production in April was generated by hydroelectric power plants, while the share of wind tribunes passed that of natural gas plants, according to data released by the Energy and Natural Resources Ministry on May 2.

Electricity production decreased by 16.3 percent to 19.1 billion kilowatt-hours compared to April 2019.

Turkey's energy import bill declined by 4.2 percent from 2018 to stand at $41.18 billion in 2019, state-run Anadolu Agency calculated from Turkish Statistics Institute (TÜİK) data.

In 2018, Turkey spent some $43 billion on energy imports.

Turkey's oil imports increased by 12 percent from a year ago to climb to 4.2 million tons in August, a report by the energy market regulator EPDK has shown.

Turkey produced 89% of its electricity from domestic and renewable resources on June 5, according to statistics from Turkey's Energy and Natural Resources Ministry.     

Turkey aims to invest roughly $11 billion in energy efficiency over the next five years, cut its primary energy consumption by 14 percent, and reduce 66 million tons of CO2 emissions, Turkey's Deputy Energy and Natural Resources Minister Alparslan Bayraktar said on April 9.

Electricity consumption increased by 0.75 percent in 2018 compared to 2017, according to Turkey's Energy and Natural Resources Ministry on Jan. 9.

Turkey has been granted a waiver of around 25 percent on U.S. oil sanctions against Iran, Turkish Energy Minister Fatih Dönmez said on Nov. 9, amounting to around three million tons of oil annually.

Two major steps are expected from Turkey's energy administration this year: A well-designed coal policy and a detailed renewable energy scheme. Energy officials have repeatedly voiced signals about these policies by emphasizing the importance of creating a robust approach based on more local and renewable resources.