Turkey plans to spend €6.5bn on energy subsidies in 2022
Turkey is expected to spend TRY100bn (€6.5bn) on energy bills for its citizens in 2022, providing 50% support for natural gas and 25% support for electricity. More than 2.1 million households will get electricity consumption assistance up to 150 kWh. In 2021, Turkey spent TRY80bn (€5.2bn) in support for natural gas, TRY20bn (€1.3bn) for electricity and TRY65bn (€4.2bn) for fuel in 2021, out of a total of TRY165bn (€10.8bn), to cushion the impact of global price increase on consumers.
Earlier in January 2022, the Turkish Energy Market Regulatory Authority (EMRA) increased electricity prices for 2022 by 50% for lower-demand households and by more 100% for high-demand commercial users. In addition, the state-owned gas group BOTAŞ raised natural gas prices by 25% for residential use and 50% for industrial use. The price increase of gas for power generation in industry will be limited to 15%.
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