consumption – Muhasebe News

EU consumption of natural gas decreased by 19.3% in the period August 2022-January 2023

MuhasebeNews — Thu, 23 Feb 2023 08:18:42 +0000

The EU consumption of natural gas has dropped by 19.3% in the period August 2022-January 2023, compared with the average gas consumption for the same months (August-January) between 2017 and 2022. The Council Regulation (EU) 2022/1369 on coordinated demand-reduction measures for gas, part of the REPowerEU plan to end EU dependence on Russian fossil fuels, set a reduction target of 15% for the period August 2022-March 2023 as compared to the average of the same period of the five previous consecutive years.

Between August 2022 and January 2023, among EU countries, Ireland (-0.3%) registered the smallest decrease in natural gas consumption in the reference period, while Spain (-13.7%) and Slovenia (-14.2%) recorded a significant drop but have not yet reached the 15% target. In other EU members, consumption dropped beyond the 15% target, in some, by a large margin (above 40%).

Consumption fell the most in Finland (-57.3%), Lithuania (-47.9%) and Sweden (-40.2%).

This information comes from energy data published by Eurostat and transmitted by the National Statistical Institutes of the Member States.

Looking at monthly data from January 2022 to January 2023, consumption has been consistently below the 2017-2022 average of the respective months of those years. Between January and July 2022, natural gas consumption in the EU varied between 1 938 petajoules (PJ) in January and 785 PJ in July, indicating a monthly decrease overall, even before the target of 15% gas reduction was set up by the Council Regulation (EU) 2022/1369. But the biggest decreases were registered in the second semester of the year starting in August 2022, with a 14.0% reduction in consumption, followed by 14.3% in September, 24.7% in October and 25.0% in November.

Consumption in December 2022 hit 1 575 PJ, indicating a smaller decrease (-12.6%) than in previous months, but then it dropped further in January 2023 (-22.1%).

January is seasonally a colder month with higher consumption, and still, in January 2023 (1 534 PJ), the reduction in consumption was evident compared with December 2022 (1 575 PJ) and with January 2022 (1 938 PJ).

Source: Eurostat
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Average 66.4 kurus was paid in the second period for 1 kWh electricity in the households in Turkey

MuhasebeNews — Wed, 25 Mar 2020 07:20:41 +0000

Electricity and Natural Gas Prices, Period II: July-December, 2019 in Turkey

Average 66.4 kurus was paid in the second period for 1 kWh electricity in the households

In the second period⁽¹⁾ of 2019, the average amount paid per kWh electricity by household consumers increased by 23.4 % to 66.4 kurus. On the other hand, electricity unit price increased by 20.3 % compared to the same period of the previous year.

Average 54.7 kurus was paid in the second period for 1 kWh electricity in the industry

Considering the electricity prices in industry in the second period of 2019, the average amount paid per kWh electricity by industrial consumers was 54.7 kurus, increasing by 13.7 % compared to the previous period and by 24.0 % compared to the same period of the previous year.

Average electricity unit prices, Period II: July-December, 2019

Average 178.3 kurus was paid in the second period for 1 m³natural gas in the households

In the second period of 2019, the average amount paid per m³ natural gas by household consumers increased by 31.5% to 178.3 kurus. On the other hand, natural gas unit price increased by 23.6 % compared to the same period of the previous year.

Average 186.4 kurus was paid in the second period for 1 m³natural gas in the industry

Considering the natural gas prices in industry in the second period of 2019, the average amount paid per m³ natural gas by industrial consumers was 186.4 kurus, increasing by 11.6 % compared to the previous period and by 24.6 % compared to the same period of the previous year.

Average natural gas unit prices, Period II: July-December, 2019

The next release on this subject will be on September 23, 2020.
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EXPLANATIONS

Within the context of the European Union (EU) harmonization process, data on the end-user average unit price for electricity and natural gas is compiled in compliance with consumption bands specified in the relevant EU regulation through semi-annual questionnaires applied to representatives of the electricity and natural gas suppliers. The unit prices are weighted by amount of final consumption of household and industrial consumers in calculations.

(1) Period I: 1 January – 30 June,
Period II: 1 July – 31 December
(2) Consumption bands (T) are standard consumption intervals which is used in computation of electricity and natural gas prices across the European Union.
(3) 1 MWh = 1 000 kWh

Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

In Turkey spot electricity market trade volume up 17 pct in 2019

MuhasebeNews — Tue, 07 Jan 2020 09:00:50 +0000

In Turkey spot electricity market trade volume up 17 pct in 2019

According to the news of Hürriyet Daily News, Turkey’s day-ahead spot electricity market’s trade volume increased year-on-year by 17.17 percent in 2019, according to data provided by Turkey’s Energy Exchange Istanbul (EXIST) on Jan. 6.

The trade volume in the day-ahead spot electricity market, which EXIST has operated since 2015, registered at 40.85 billion Turkish liras in 2019 compared to 34.86 billion liras in 2018.

EXIST reported a transaction of 152.11 terawatt-hours in the day-ahead market in 2019.

The highest trade volume on a daily basis was recorded on July 9, 2019 at 176.49 million liras, while the lowest occurred on May 5, 2019 with 7.53 million liras.

Last year, the average electricity rate for one-megawatt hour in the day-ahead spot market was calculated as 260.32 liras.

On a monthly basis in 2019, the average number of participants in the day-ahead market totaled 771.

Turkey’s energy exchange company, which is responsible for managing and operating energy markets, including power and gas commodities provide counter-party guarantees in its transactions while ensuring equal access to all market participants.

Daily power consumption down 9.81 pct on Jan 5

Turkey’s daily electricity consumption decreased by 9.81 percent to 747,026 megawatt-hours on Jan. 5, according to official figures of Turkish Electricity Transmission Corporation (TEIAS) on Jan. 6.

Hourly power consumption peaked at 19.00 local time with 36,628 megawatt-hours, data from TEIAS showed. The country’s electricity usage dropped to its lowest point of 26,976 megawatt-hours at 05.00.

Total electricity production reached 743,242 megawatt-hours on Sunday, with a 10.31 percent decrease compared to the previous day.

The majority of the output came from imported coal plants with 195,185 megawatt-hours.

Natural gas and hydroelectricity followed with 184,884 megawatt-hours and 120,465 megawatt-hours, respectively.

On Jan. 5, Turkey’s electricity exports amounted to 5,104 megawatt-hours, while imports totaled 8,888 megawatt-hours.

Source: Hürriyet Daily News / link: http://www.hurriyetdailynews.com/spot-electricity-market-trade-volume-up-17-pct-in-2019-150652
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Electricity consumption down 1 pct in Turkey

MuhasebeNews — Wed, 04 Dec 2019 09:00:57 +0000

Electricity consumption down 1 pct in Turkey

According to the news of Hürriyet Daily News, Turkey’s electricity consumption declined by 1.08 percent on an annual basis to 23 billion kWh (kilowatt per hour), while the country’s power generation declined 1.89 to 22.97kWh in November, state-run Anadolu Agency reported, citing data from the Energy Ministry.

Within the month, local electricity consumption hit its peak on a daily basis on Nov. 27 with 841 million kWh, while the lowest consumption was on Nov. 3 with 652 million kWh.

In the month, natural gas power plants accounted for 23.63 percent of total electricity production and hydropower plants’ share was 19.55 percent.

Wind power plants generated 5.81 percent of electricity produced in November while the remaining 5.09 percent came from geothermal, solar, fuel oil and biomass.

Turkey imported 309.4 million kWh of electricity in the month, marking a 25.83 percent increase on an annual increase.

The country exported 200.4 million kWh of power in November versus 328.7 million kWh in the same month of 2018.

The country’s installed capacity reached 91,070 kWh as of end-October, data also showed.

Source: Hürriyet Daily News / link: http://www.hurriyetdailynews.com/electricity-consumption-down-1-pct-149409
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Online sales jump 45 pct on Black Friday in Turkey

MuhasebeNews — Mon, 02 Dec 2019 09:00:26 +0000

Online sales jump 45 pct on Black Friday in Turkey

According to the news of Hürriyet Daily News, a total of 2.3 million items were sold on Turkey’s online shopping platforms on Black Friday, pointing to a strong 45 percent rise compared with a year ago, according to data from Related Digital.

A total of 2.3 million items were sold on Turkey’s online shopping platforms on Black Friday, pointing to a strong 45 percent rise compared with a year ago, according to data from Related Digital.

Companies sent out around 92 million email messages to potential buyers to promote their products this year, up from 65 million emails last year.
Some 1.56 million items were sold during last year’s shopping spree.

Retailers launched 1,220 email marketing campaigns for Black Friday to target consumers, whereas the corresponding figure was 930 in 2018.

Related Digital collected data from around 1,000 e-trade platforms.

People bought items most between midnight and 1 a.m., while the largest group of shoppers were people aged between 22 and 34.

According to Related Digital, 60 percent of shopping on Black Friday was done through computers.

The most popular items sold were clothing and cosmetics products, followed by home decoration, smartphones and their accessories, and white goods.

Small home appliances and computers and computer accessories were also among the favorite items on Black Friday shoppers’ list.

$7 billion sales in the US

Meanwhile, online sales on Black Friday in the United States hit a record $7.4 billion this year, with a jump in the number of transactions made from smartphones, according to data released on Nov. 30 by Adobe Analytics.

The figure was a 19.6 percent increase over last year and the second biggest day of online sales ever, the company said, just below the $7.9 billion consumers spent on last year’s Cyber Monday, which follows Black Friday.

This year, 39 percent of online purchases were made from smartphones, a 21 percent increase from last year.

“With Christmas now rapidly approaching, consumers increasingly jumped on their phones rather than standing in line,” said Taylor Schreiner, principal analyst and head of Adobe Digital Insights.

The hottest toys included L.O.L. Surprise dolls and items featuring Disney’s “Frozen 2.” In the video game category, the top sellers were FIFA 20, Madden 20 and Nintendo Switch.
The most popular electronics were Apple laptops, AirPods and Samsung TVs.

Adobe Analytics estimates Cyber Monday will see a record $9.4 billion in sales, a nearly 19 percent increase over last year.

Source: Hürriyet Daily News / link: http://www.hurriyetdailynews.com/online-sales-jump-45-pct-on-black-friday-149320
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Household Consumption Expenditures, 2018 (Turkey)

MuhasebeNews — Fri, 26 Jul 2019 15:18:55 +0000

Household Consumption Expenditures, 2018 (Turkey)

Households allocated the highest share to housing and rent expenditures

According to the results of 2018 household budget survey; while the expenditures on housing and rent had the highest share in total consumption expenditures with a rate of 23.7%, the share of expenditures on food and non-alcoholic beverages was 20.3% in overall Turkey. The groups which had the lowest shares in total expenditures were health expenditures and educational services expenditures with the rates of 2.2% and 2.3% respectively.

The monthly average equivalised consumption expenditures was 2 181 TL

The monthly average equivalised consumption expenditures was 1 854 TL in 2017 and 2 181 TL in 2018.

The share of food and non-alcoholic beverages in total expenditures had the highest increase

According to the results of the survey, the share of food and non-alcoholic beverages expenditures increased from 19.7% to 20.3% with an increase of 0.6 points compared to the previous year. The share of various good and services expenditures increased to 4.9% from 4.4%. The share of communication expenditures was 3.8% in 2018 while 3.4% in 2017. The share of expenditures on restaurant and hotels increased to 6.5% from 6.2%. The share of furniture and houses appliances increased to 6.5% from 6.3% and also the share of entertainment and culture expenditures increased to 2.9% from 2.7%.

On the other hand, the share of housing and rent expenditures in total expenditures decreased from 24.7% to 23.7% with a decrease of 1 points compared to the previous year. The share of alcoholic beverages, cigarette and tobacco expenditures decreased from 4.5% to 4%. The share of expenditures on transportation was 18.3% in 2018 while 18.7% in 2017. The share of clothing and footwear expenditures decreased to 4.8% from 5%.

The share of expenditures on health which was 2.2% and the share of educational services expenditures which was 2.3% remained unchanged from 2017 to 2018.

Distribution of household consumption expenditures by expenditure types, 2017, 2018

Share of food expenditures of low-income households was twice more than that of high-income households

When looking at the distribution of consumption expenditures by quintiles ordered by income in 2018, it was observed that the share of housing and rent expenditures was 31.4%, food and non-alcoholic beverages expenditures was 28.7%, transportation expenditures was 9.3% and furniture and houses appliances expenditures was 5.9% for households in the first quintile (the lowest quintile).

The share of transportation expenditures was 21.6%, housing and rent expenditures was 20.3%, food and non-alcoholic beverages expenditures 15.4% and restaurant and hotels expenditures was 7.8% for households in the fifth quintile (the highest quintile).

Expenditure patterns changed according to households’ main source of income

While households whose main source of income was wages and salaries allocated 22.4% share for housing and rent, 19.2% for transportation and 18.7% for food and non-alcoholic beverages, households whose main source of income was entrepreneurial income allocated 22.7% share for transportation, 19.7% for housing and rent and 19.5% for food and non-alcoholic beverages.

Households whose main source of income was property income, interest and dividends allocated 28.1% share for housing and rent, 18.6% for transportation and 16.4% for food and non-alcoholic beverages. Households whose main source of income was pensions allocated 28.6% share for housing and rent, 25.5% for food and non-alcoholic beverages and 13.4% for transportation.

Source: TUIK
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Quarterly Gross Domestic Product in Turkey, IV. Quarter: October-December, 2016

MuhasebeNews — Sat, 01 Apr 2017 08:21:19 +0000

Gross Domestic Product (GDP) increased by 2.9% in 2016
The first estimate of Gross Domestic Product by production approach, with chain linked volume index, increased by 2.9% in 2016 compared to the previous year

Among the activities that constitute gross domestic product; the total value added of the activities constituting the agricultural sector decreased by 4.1% in 2016 compared with the previous year in the chained linked volume index, the total value added of the activities constituting the industry sector increased by 4.5%, the total value added of the activities constituting the construction sector increased by 7.2% and the total value added of the activities constituting the service sector decreased by 0.8%.

Gross Domestic Product Per Capita was 32 676 TRY in 2016
The gross domestic product per capita in 2016 was 32 676 TRY and 10 807 US Dollars at current prices.

Gross Domestic Product (GDP) in the fourth quarter increased by 3.5% in the chain linked volume index
Gross domestic product increased by 3.5% compared to the same quarter of previous year in the fourth quarter of 2016.

Gross domestic product with production method was 734 billion 393 million TRY at current prices. Among the activities that constitute gross domestic product; the total value added of the activities constituting the agricultural sector increased by 1.3% in the fourth quarter of 2016 compared with the same quarter of the previous year in the chained linked volume index, the total value added of the activities constituting the industry sector increased by 5.0%, the total value added of the activities constituting the construction sector increased by 3.7% and the total value added of the activities constituting the service sector increased by 1.8%.

Calendar adjusted gross domestic product in the fourth quarter of 2016 increased by 3.5% compared to the same quarter of previous year. Seasonally and calendar adjusted GDP increased by 3.8% compared to the previous quarter.

Final consumption expenditures of households at chained volume measure increased by 2.3% in 2016.
Final consumption expenditures of households increased by 2.3% in 2016 compared to the previous year’s chain linked volume index. The share of household consumption expenditures in GDP was 59.5%.

In 2016, the share of government final consumption expenditures in GDP was 14.7%, while the share of fixed capital formation was 29.8%. According to the previous year’s chain linked volume index, final consumption expenditure by the government increased by 7.3% and gross fixed capital formation by 3%.

Household final consumption expenditure increased by 5.7% in the fourth quarter.
Household final consumption expenditure increased by 5.7% in the fourth quarter compared with the same quarter of the previous year in the chained linked volume index, government final consumption expenditure increased by 0.8% and gross fixed capital formation increased by 2%.

Exports of goods and services decreased by 2%, imports increased by 3.9% in 2016.
In 2016, exports of goods and services decreased by 2%, while imports increased by 3.9% compared to the previous year’s chain-volume index. Exports of goods and services increased by 2.3% in the fourth quarter compared with the same quarter of the previous year in the chained linked volume index, imports of goods and services increased by 3.3%.

Compensation of employees increased by 22.8% in 2016.
Compensation of employees increased by 22.8% while Net operating Surplus/Mixed income increased by 2.6% in 2016.

Compensation of employees increased by 19.7% in the fourth quarter.
Compensation of employees increased by 19.7% while Net operating Surplus/Mixed income increased by 7.7% in the fourth quarter with respect to same quarter of previous year.

The share of compensation of employees in gross value added was 33.3%
The share of compensation of employees in the gross value added was 33.3% in the fourth quarter of 2016 while it was 31.2% in the same quarter of previous year. The share of net operating surplus/mixed income was 51.2% while it was 53.4% in the same quarter of previous year.

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.