The Economic Coordination Board in Turkey has decided to raise electricity prices for industrial users, as decided at a meeting held yesterday, September 28. Accordingly, as of October 1, electricity prices for industrial and commercial users will be increased by 20 percent, whereas the prices for residential users will remain unchanged.
The domestic steel sector had been expecting this price increase. The new tariffs will further exacerbate difficulties for Turkish steel producers, who are already struggling due to high production costs and are unable to sell in most export markets due to their lack of competitiveness. Access to affordable, fossil-free electricity is critical for the Turkish steel sector to remain globally competitive.