Fines of $12 million have been given to 24 energy-producing and distribution companies for breaching regulations by Turkey's Energy Market Regulatory Authority, according to a statement in the official gazette Thursday.
The highest fine of nearly $4 million was given to Erciyes Gas Company due to their false declaration of liquefied petroleum gas sales, while the lowest penalty of $31 thousand was given to two different fuel companies - ABC Group for the illegal resale of fuel oil, and ETAPET for the unlicensed sale of fuel oil to a retailer.
The regulatory authority demanded defense statements from 30 companies in the energy market, according to the declaration.
EMRA's core responsibility is to regulate energy, oil, natural gas, electricity, petroleum and LPG markets in the country.
By Ugur Serhan Ozcan