(Bloomberg) — Turkey raised household electricity and natural gas prices as of Saturday, citing the surge in global energy prices.
The price increases for electricity were between 52% and 130% for households, the Haberturk newspaper estimated, as the country switched to a gradual fare system.
Under the new system, households will pay 1.37 liras ($0.09) per kilowatt hour for electricity up to 150 kilowatt hour usage per month, and 2.06 liras ($0.14) per kilowatt hour for consumption exceeding that limit as of Jan. 1, the nation’s energy markets regulator said in a statement late Friday.
Botas, Turkey’s state gas company, raised natural gas prices 25% for households, 15% for power plants and 50% for factories starting from Jan. 1, according to a statement in its website late Friday.
The moves could further drive Turkish inflation, which is expected to accelerate to 27.4% in December, according to the median estimate in a Bloomberg survey. Turkey’s statistics institute will announce the actual figure on Monday.
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