Bills will burn pockets: Expectation of a massive hike in electricity prices in February

Following the wave of price hikes that began with basic necessities at the start of the new year, all eyes have turned to electricity prices. In its assessments of Turkey, an international financial institution estimates that electricity tariffs will be increased by 19 percent. Authoritative figures in the energy market also state that they expect the potential regulation to be clarified in February.

The expected price increase in electricity bills will affect the purchasing power of citizens, especially following the rise in food and other expenditure items in the new year. According to information obtained from the sector, it is projected that the electricity price hike rate could range between 15 and 20 percent.

Energy Market Regulatory Authority (EPDK) President Mustafa Yılmaz had signaled in a television program he attended in January that a re-evaluation could be made regarding electricity tariffs in February. Yılmaz had strengthened the possibility of a hike by stating, "We will do the calculations in February, we may make another adjustment."

With the rise in public expectation of a price hike, attention has turned to the meeting that the EPDK will hold on Thursday. It is expected that a decision regarding the scope and implementation date of the potential price increase will be made at the meeting. This decision, to be taken at the beginning of February, will have a direct impact on the budgets of electricity users.