Electricity and natural gas prices will remain static in January, Turkey's energy minister said on Tuesday.
"The ministry will not increase the prices of electricity and natural gas in January. The prices will remain in January as they are in December," said Taner Yildiz, speaking in Ankara.
Turkey has the lowest prices of electricity and natural gas for industrial consumption compared to EU states as of December, he said.
Energy-dependent Turkey has increased investment in electricity production and natural gas storage facilities to satisfy its increasing energy demand during economic growth over the last decade.
There will also be a legislative bill presented to parliament in January for regulating fees for electric power distribution and transmission losses, which distributors collect from consumers, Yildiz confirmed.
Turkish power distributors face huge losses caused by unsubscribed consumers taking energy from the grid. Turkish regulators struggle to prevent these losses with inspections and penalties.
Yildiz said the distribution losses are a general problem throughout the national grid but concentrated on some eastern regions.
Turkish natural gas consumption in 2014 increased to 48 billion cubic meters said Yildiz, adding that in 2015 this figure is expected to reach 51 billion cubic meters.
Turkey is trying to increase power production from coal instead of natural gas – no incentives will be available for new natural gas thermal plants, Yildiz said.
“Turkey has to increase its power generation from coal like Germany and other industrialized countries did, therefore we will shift incentives available for the natural gas plants to new coal plants,” said Yildiz.