Turkish consumers will see their natural gas and electricity bills go up nine percent next month, the country's Energy Minister Taner Yildiz announced on Tuesday.
Yildiz said that one of the reasons for the increase is that the state has to make up losses it has incurred with the strength of the dollar to the lira in the last few months. The state buys energy in dollars and sells in Turkish lira. If the value of the dollar rises then the state has to make up the difference with a price hike.
'High exchange rate of dollar is a huge disadvantage for the energy sector', Yildiz affirmed.
Minister claimed Turkish consumers benefit cheapest natural gas prices both in hausehold and industrial consumption compared to EU.
Yildiz also said the rise of the electricity prices was caused by the low productivity of the hydro-electricity plants.
By Muhsin Baris Tiryakioglu and Oguzhan Ozsoy
Anadolu Agency