With the increasing energy prices in the World and the Europe, the electricity and natural gas market is phasing into a very interesting period. With the recents steps taken for reducing the carbon emissions, especially by the European Union, together with the nuclear energy which is preparing for its second renaissance and storage units and hydrogen energy that are becoming primary players in the electricity market, a very different market structure compared to a few years earlier awaits us.
In Turkey, fluctuations in the foreign currency prices and geopolitical developments will continue to have a direct effect on the energy market. Turkey needs to continue its energy infrastructure investments while integrating electrical vehicles into its daily life and continuing to promote renewable energy. It is evident that all of these aspects will continue to create a pressure on the energy prices in 2022.
As a result of these effects, in addition to the usual annual changes, there have been significant changes in the energy markets as of the beginning of 2022. Such key changes and developments in the energy markets are explained on our notes. We have published a new Paksoy briefing: “Recent Developments in the Energy Market as of the Beginning of 2022”. You can reach the briefing here.
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This is for information purposes; it is not legal advice. As laws and their interpretation may change, please consult Turkish legal counsel to confirm the current position and obtain advice tailored to your circumstances before making any decision or taking action in relation to your matter in Türkiye. All rights reserved.