Ankara: The decision was confirmed by the Turkish Energy Market Regulatory Authority, which stated that escalating electricity production and distribution costs have driven the hike in retail electricity prices. Alongside this, natural gas prices for residential consumers will also increase by an average of 25%.

Under the revised pricing, a household consuming 100 kilowatt-hours (kWh) of electricity will now see their bill rise to 323.8 Turkish Lira, equivalent to approximately 6.29 Euros. The increase marks a notable jump in monthly utility expenses for average consumers.

The impact extends beyond households. The authority announced that consumers across industrial, commercial, and agricultural sectors will also face price adjustments, with increases ranging between 5.8% and 24.8%, depending on usage and sector-specific factors.

Officials linked the surge in energy costs partly to global market disruptions. In particular, tensions following the recent US-Israeli attack on Iran on February 28 have led to stricter controls by Iran over shipping routes through the Strait of Hormuz. These developments have contributed to a sharp rise in global oil and gas prices, further pressuring domestic energy markets.