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Electricity and natural gas price hikes are on the horizon

Energy prices rose at a higher rate than the 211.8 percent CPI increase between 2019 and 2023. There is widespread concern that significant price hikes, which were avoided during the general and local election periods, will be implemented in July.

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Electricity and natural gas price hikes are on the horizon

Electricity and natural gas price hikes are on the horizon. Between 2019, when the previous local elections were held, and 2023, when the general elections took place, electricity prices for the first tier of residential consumption increased by 222.7 percent. BOTAŞ, meanwhile, raised natural gas prices for residential use by 358.4 percent.

According to a report by Havva Gümüşkaya from BirGün, considering that the increase in the consumer price index (CPI) between 2019 and 2023 was 211.8 percent, the price hikes implemented by the government during non-election periods were higher than the CPI growth rate.

In the first four months of the 2023 election year, residential and first-tier natural gas sales prices remained stable, while three price cuts in February, March, and April resulted in a 40.1 percent reduction for second-tier workplaces and a 44.4 percent reduction for power plants. In April 2023, natural gas was provided free of charge to all residential consumers, and until the end of May 2024, 25 m3 of monthly gas consumption for residential users was free of charge.


News Source: 12punto

electricity natural gas CPI BOTAŞ