Turkey has raised again its natural gas and electricity prices as of 1 June 2022, citing the critical current situation of global energy markets, and contributing to the overall annual inflation that surpassed 70% in April-May 2022. The state-owned gas company BOTAŞ increased natural gas prices by 30% for households, by 16.3% for gas used in electricity production and by 10.2% for gas used in industry. The energy market regulatory authority (EPDK) also raised electricity prices by between 15% and 25% on 1 June 2022.
Turkey imports almost all of its energy needs (99% of its gas and 89% of its oil in 2020), leaving it vulnerable to global price rises. In January 2022, Turkey announced plans to spend TRY100bn (€6.5bn) on energy bills for its citizens in 2022, providing 50% support for natural gas and 25% support for electricity. Moreover, BOTAŞ raised gas prices by 25% for residential use, 50% for industrial use and 15% for power generation in the industry in January 2022 and by 35% for households and 50% for industry in April 2022.