This study analyses and quantifies how incorporating higher shares of renewable energies in Turkey’s electricity mix can affect electricity prices for the industrial sector. The impacts are quantified for both wholesale and retail electricity prices. Moreover, additional positive socio-economic effects are also quantified in terms of job creation, GDP growth, and reduced inflation.
The recent crises in energy markets, particularly natural gas procurement difficulties, has increased the wholesale electricity price in Turkey. The average wholesale electricity price from winter of 2019 up to spring of 2021 was 44 USD/MWh which was increased to 95.25 USD/MWh. Our updated Executive Summary accounts for the new trends in electricity prices.
Year of publication: 2022
Editors: David Jacobs, Dursun Bas, Ümit Şahin, Franziska Sperfeld, Laura Nagel, Sebastian Helgenberger — IET, IPC, UfU, and IASS
Suggested citation: IASS/IPC/UfU/IET. 2022. Increasing industrial competitiveness and hedging against fossil proce volatility with renewables in Turkey. Assessing the co-benefits of decarbonising the power sector. COBENEFITS Executive Report. Potsdam/Istanbul. www.cobenefits.info