Turkey raised electricity and natural gas prices for homes on Saturday, citing rising global energy prices.
Local newspaper Haberturk estimated electricity prices would rise between 52% and 130% for households, as the country switched to a phased tariff system.
Under the new system, households will pay 1.37 lira ($0.09) per kilowatt-hour for electricity up to 150 kilowatt-hours of use per month, and 2.06 lira ($0.14) per kilowatt-hour for consumption above this limit as of January 1. According to what the regulator of the national markets said in a statement Friday evening.
Turkey’s state-run company Botas has raised natural gas prices by 25% for homes, 15% for power plants and 50% for factories from Jan. 1, according to a statement posted on its website late Friday.
These moves may lead to Turkish inflation increase, which is expected to accelerate to 27.4% in December, according to the median estimate in a Bloomberg survey. The Turkish Statistical Institute will announce the actual figure on Monday.
