Turkey hikes electricity prices by 15%, natural gas next – report

Turkey’s energy regulator increased the price of electricity by 15 percent, Diken news website reported.

The price hike will apply to households and businesses and is valid from July 1, the regulator decided in a meeting on Thursday, according to Diken.

Turkey’s government is increasing the prices of various commodities following the conclusion of local elections. The ruling Justice and Development Party (AKP) lost the mayoral seat for Istanbul in a rerun of an election in March on Sunday.

Earlier this week, state regulators raised the price of tea and sugar by 15 percent and 16 percent, respectively.

A similar price rise for natural gas is also in the pipeline, the website said. State pipeline company BOTAŞ is required to set a new price for natural gas by the end of the month, it said.