Despite a 38% increase in wholesale gas prices, the Energy Market Regulatory Authority (EPDK) reports that the average impact on residential gas prices is 24.4%, effective from August 1.
The Energy Market Regulatory Authority (EPDK) has announced that the recent 38% hike in natural gas purchase prices has led to an average increase of 24.4% in residential gas prices across Turkiye. This adjustment, effective from August 1, 2024, reflects the latest tariff updates released by the state-owned energy company, BOTAS.
In a detailed statement, the EPDK clarified that the significant price hikes of 33.1% and 38% pertain specifically to the unit cost of gas purchases. However, when considering the overall impact on household bills—taking into account system usage fees and taxes—the price increase for residential gas is more moderate, averaging 24.4% nationwide.
As a result of this adjustment, the cost of 1 cubic meter of natural gas has risen from an average of ₺7.6 to ₺9.4 for residential consumers. For small-scale consumers, with an annual usage of up to 300,000 cubic meters, excluding electricity production, the price has surged by 28.7%, with the cost per cubic meter climbing from ₺11.8 to ₺15.2.
This price change is expected to have a substantial impact on household budgets, reflecting the ongoing adjustments in Turkiye’s energy market as the country adapts to global energy price trends and domestic supply challenges.
Source: Trthaber / Prepared by Irem Yildiz