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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Source: TurkStat
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According to the news published by Central Bank of Republic of Turkey, in January, consumer prices rose by 1.35%, while annual inflation was up by 0.31 points to 12.15%. Meanwhile, the annual rate of change in the B and C indices rose by 0.17 and 0.07 points to 10.93% and 9.88%, respectively.

Across subcategories, the contribution of energy, gold and services groups to annual consumer inflation increased month-on-month by 0.66, 0.06, 0.05 points, respectively, while that of food, core goods and alcohol-tobacco groups decreased by 0.34, 0.07 and 0.05 points, respectively.

Three-month averages of seasonally adjusted core inflation indicators suggest a somewhat rise in the trend of the B and C indices. In this period, the trend of the services group posted an uptick, whereas that of the core goods group decreased amid the VAT reduction in furniture products. The upward trend of the B index was also triggered by developments in processed food prices.

In January, services prices increased by 2.00% and annual services inflation inched down to 12.20%. In this period, annual inflation declined in rents, transport services and communication but crept up in restaurants-hotels and remained relatively flat in other services. Monthly price developments reveal that an upsurge in prices was seen in items of the other services group that are inclined to backward-indexation, reflect the exchange rate effect, and the prices of which are set according to the re-valuation rate. This period was especially marked by price developments in subcategories such as health, maintenance and repair, and education. In the restaurants-hotels group, prices increased both in accommodation and catering services. Showing backward-indexation behavior, the rent group posted a monthly increase of 1.14%, with a stronger trend than past months.

Annual core goods inflation decreased by 0.13 points to 7.35% in January. In this period, annual inflation dropped in durable goods, rose in clothing and durable goods and remained flat in other core goods. The VAT reduction in furniture products (to 8% from 18%) was largely manifest in prices, pulling down the prices of durable goods by 0.94%. Meanwhile, the seasonal sale in the clothing and footwear group proved more limited compared to the previous year.

Energy prices rose by 1.11% in January. This rise was mainly due to the price hike of 5.97% in municipal water tariffs. Notwithstanding the fall in international oil prices, fuel prices increased by 0.55% due to exchange rate developments. Annual energy inflation rose by 6.16 points to 17.14% due to the low base effect led by the reduced prices in electricity, natural gas and municipal water in the same period of the previous year.

Source: Central Bank of Republic of Turkey / link: https://www.tcmb.gov.tr/wps/wcm/connect/69673969-4337-4dfc-8780-90bde7aff242/mpricejanuary20.pdf?MOD=AJPERES
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According to the news of Hürriyet Daily News, Turkey’s energy watchdog estimates the consumption of 52.02 billion standard cubic meters (bcm) of natural gas in Turkey in 2020, according to an official gazette announcement on Jan. 29.

EMRA’s natural gas consumption estimation was nearly 52.13 bcm for 2019 but the authority has not yet announced the actual consumption.

The country consumed around 49.32 bcm of natural gas in 2018, according to EMRA’s 2018 Natural Gas Market Report, a rate below the 54.52 bcm forecast for that year.

Turkey aims to decrease its dependence on imported products including oil and gas in energy supply, while increasing the share of local and renewable sources in its energy mix. With that aim, the country last year saw the share of local and renewable resources in electricity production amounted to 62 percent.

Natural gas imports down 17 pct

In the meantime, EMRA on Jan. 29 announced that Turkey’s natural gas imports decreased by around 17 percent in November 2019 compared to the same month of 2018.

Natural gas imports decreased to 3.9 billion cubic meters (bcm) in November last year, from 4.69 bcm for the same month of 2018, EMRA said in its monthly natural gas market report.

The country imported 2.81 bcm of natural gas via pipeline, while 1.87 bcm was purchased as LNG in November 2019, the data showed.

Turkey’s total gas consumption decreased by 15.8 percent to approximately 3.44 bcm in November 2019, from around 4.09 bcm in November 2018.

The amount of natural gas in storage increased by approximately 2.6 percent to 3.45 bcm in November last year, from 3.36 bcm in November of the previous year.

Gas production decreased by around 2.8 percent to 37.6 bcm from 38.7 bcm over the same period.

Source: Hürriyet Daily News / link: http://www.hurriyetdailynews.com/energy-watchdog-predicts-52-02-bcm-gas-consumption-in-2020-151532
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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
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According to the report published by World Bank, Turkey’s efforts to restructure its energy sector over the past fifteen years is based on a variety of interlinked measures that achieved energy security for a fast-growing economy with rapidly increasing energy needs.  Since 2001 when Turkey launched its energy market reform as response to the economic crisis, the country moved from a state-owned, vertically-integrated model and has entirely privatized electricity distribution, passed groundbreaking electricity and natural gas market, renewable energy and energy efficiency legislation; established new regulatory bodies; created a well-functioning electricity market; and carried out price reform.

As a result, Turkey has added about 31,000 MW market-based electricity generation capacity without long-term power purchase agreements and sovereign guarantees; an electricity market with over 800 participants has been developed; investors took over the entire power distribution system between 2008 and 2013; and the regulatory framework for renewables and development of electricity market facilitated 16,000 MW generation capacity addition based on renewable sources in the 2001-2014 period. The country has transitioned to a well-functioning and fully developed electricity market, with adequate supply to meet the country’s growing needs.

The report presents this story in full that is Turkey’s accomplishments in developing and implementing market-oriented energy reforms as well as selected key reform challenges going forward. In terms of reform milestones, the primary focus of the report is on the electric power and natural gas sectors, although energy pricing and subsidies in the petroleum sector are also addressed.

In terms of future challenges, the report discusses the ongoing and unfinished liberalization of the electricity and gas markets as well as required government support, including governance, in the energy sector. Discussion of environmental and social issues and challenges has also been integrated in the report.

To access the full report, please visit: http://documents.worldbank.org/curated/en/249831468189270397/Turkey-s-energy-transition-milestones-and-challenges

Source: World Bank / link: https://www.worldbank.org/en/country/turkey/publication/assessing-turkey-energy-transition
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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
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According to the news of Hürriyet Daily News, Turkey’s natural gas imports decreased by 7.4 percent in September compared to the same month of 2018, Anadolu Agency reported, citing data from the country’s energy watchdog EPDK.

Imports decreased to 3.04 billion cubic meters (bcm) in September from 3.28 bcm in September 2018, the EPDK said in its monthly natural gas market report.

The country imported 2.47 bcm of natural gas via pipeline, while 0.57 bcm was purchased as LNG in September, EPDK data show.

Turkey’s total gas consumption decreased by 20.4 percent to around2.63 bcm this September from around 3.30 bcm in September 2018.

The amount of natural gas in storage decreased by nearly 1.2 percent to 3.24 bcm in September this year from 3.28 bcm in September last year.

Gas production increased to 37.2 million cubic meters (mcm) over the same period, up from 36.5 mcm in September 2018.

In 2018, Turkey imported 50.4 billion cubic meters of natural gas, an 8.85 percent decline from the previous year.

Russia was Turkey’s largest supplier of natural gas last year, with a 46.95 percent share in the country’s total imports.

In 2018, Turkey consumed 49.3 bcm of natural gas, less than the initial estimate of 54.5 bcm for last year.

As of end-2018, companies with licenses to distribute natural gas served a total of 14.8 million subscribers across the country, an 8.7 percent increase from the previous year.

Source: Hürriyet Daily News / link: http://www.hurriyetdailynews.com/natural-gas-imports-down-more-than-7-pct-149138
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Source: TÜİK
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.

Domestic producer price index rate of changes, 2016-2017
[2003=100]
Domestic producer price index, annual change on same month of the previous year, 2016-2017
[2003=100]

D-PPI decreased by 0.82% for mining and stone quarrying, increased by 0.80% for manufacturing, increased by 1.04% for electricity and gas and increased by 0.62% for water supply compared with the previous month.

Domestic producer price index and rate of changes, April 2017
[2003=100]

The highest monthly increase was in tobacco products
The highest rates of monthly increase in D-PPI by sub divisions of industry were index for tobacco products by 4.15%, beverages by 3.43%, paper and paper products by 2.15%. On the other hand the highest rates of monthly decrease in D-PPI by sub divisions of industry were index for metal ores by 2.03%, crude petroleum and natural gas by 1.80% and other mining and quarrying products by 0.49%.

The highest monthly increase in main industrial groupings was in non-durable goods
According to main industrial groupings classification in April 2017, the highest rate of monthly increases was in non-durable goods and the highest rate of annual increases was in intermediate goods.

Domestic producer price index main industrial groupings and rate of changes, April 2017
[2003=100]

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