Turkey cuts natural gas, power prices for industry from January 1

Turkey will cut natural gas prices for industrial consumers by as much as 25 per cent and reduce their electricity prices by 16 per cent from January 1.

President Tayyip Erdogan said on Saturday.

"The price of natural gas has been decreased between 13.10 per cent and 25.11 per cent for industrial users compared to November 2022," Erdogan said in a tweet.

Natural gas prices for electricity production were cut by 12.73 per cent, Erdogan said, adding that electricity prices would fall by 16 per cent for industrial users, a measure announced by the head of the EPDK energy regulator on Friday.

Erdogan added that natural gas prices for places of worship would fall 42.73 per cent, effective January 1.