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Turkey’s energy sector is one of the fastest growing energy markets in the world, owing to rapidly growing demand and investment requirements, in parallel with a steadily growing economy and rapid urbanization. It is also coming under the spotlight not only for domestic investors but for foreign investors too.
The Turkish energy sector has attained a competitive structure following deregulation, which commenced during the 80s and gained momentum through the Electricity Market Law and Natural Gas Market Law enacted in 2001. The public sector’s share in the energy sector has been reduced, and a competitive market structure was created by means of privatization works, which have been accelerated with the Electric Energy Sector Reform and Privatization Strategy Document published in 2014, in addition to the liberalization of the energy market. Power Exchange (EPİAŞ), which is expected to become operational in 2015, will contribute further to the opening up of the market, and moreover it will provide liquidity and transparency. It will further help in establishing a healthy balance between supply and demand.
Turkey’s power demand grew annually by 6 % over the last decade, reaching 255,490 GWh as of 2014 year-end, and the country has one of the fastest growing electricity markets in the world.
49 % of total electricity generation in 2014 is met by natural gas power plants, followed by coal power plants with a share of 29 %, and hydroelectric power plants take third place, meeting 16 % of power generation.
Private sector electricity producers boosted their share of Turkey’s total electric energy installed capacity from 25 % to 55 % in the last five years, and reached 38,218 MW of Turkey’s total installed capacity of 69,517 MW, recorded as of 2014 year-end.