EMRA statement on 38% natural gas price hike: Impact is at the 24.4% level

The Petroleum Pipeline Corporation (BOTAŞ) has announced that, as of August, the wholesale price of natural gas used in residences has been increased by 38 percent.

The Energy Market Regulatory Authority (EMRA) stated that the 38 percent price increase in the natural gas purchase cost for residences has an average impact of 24.4 percent on the prices of gas used in residences across Turkey.

In the statement made by EMRA, it was noted that the natural gas tariffs effective from August 1, 2024, were announced to the public by the Petroleum Pipeline Corporation (BOTAŞ).

It was recorded that the increases of 33.1 percent and 38 percent mentioned in the aforementioned statement are the increases reflected in the unit gas purchase cost, and that the 38 percent increase in the gas purchase cost has an average impact of 24.4 percent on the prices of gas used in residences across Turkey.

The statement from EMRA included the following remarks:

"As a result, when the unit gas purchase cost, which is the determining factor in the final bill, is calculated including the system usage fee and taxes, residential prices across Turkey have increased by an average of 24.4 percent. In other words, the final price of 1 cubic meter of natural gas has increased from an average of 7.6 liras to 9.4 liras. The sales price of natural gas used by free consumers with an annual consumption of 300 thousand cubic meters or less, excluding electricity generation, has increased by an average of 28.7 percent across Turkey. For these consumers, the final price of 1 cubic meter of natural gas has increased from an average of 11.8 liras to 15.2 liras."

News Source: AA