The new tariffs went into effect on July 2. The rise is connected to the government’s financial aims.
Starting on July 2, 2025, the natural gas prices in Turkey will go up. For homes, it will go up by 24.6%, while for businesses, it will go up by 7.86%. The state-owned corporation BOTAŞ said this on its official website.
The requirement to meet budget targets is what explains the adjustments in rates.
The company’s statement says that the change impacts wholesale natural gas prices, which in turn influences the final rates for various types of customers. Hakan Kara, an economist and former chief economist of the Central Bank of Turkey, said that petrol prices had already gone up by over 150% since the interest rate was hiked to 50% in March 2024. He thinks that this kind of rise goes against the stated goal of keeping inflation in check.
The price rise is worrying since energy expenses are already high, which is hard on both companies and consumers. This choice is likely to affect the country’s general inflation rate and make it harder for families to make ends meet over the summer.
Remember that Turkey last changed energy tariffs in April of this year. Electricity rates for businesses was up by 10% starting on April 5, while natural gas prices for businesses went up by an average of 20%. This choice made it more expensive for businesses that use a lot of energy, especially metallurgy, which relies significantly on electricity since electric arc furnaces are so common.
In 2024, Turkish steelmakers produced 9.4% more steel than in 2023, bringing the total to 36.89 million tonnes, as GMK Centre reported previously. Last year, the nation produced 10.19 million tonnes of pig iron, which is 17.2% more than the year before. In 2023, the average monthly output of steel was 2.81 million tonnes, while the average monthly production of pig iron was 848,800 tonnes and 724,200 tonnes, respectively.
