Turkey hikes natural gas prices by 14% amid Lira crisis: report

Turkey's state pipeline operator Botas raised natural gas prices by 14 percent for industrial use and 9 percent for residential use from Saturday, as Lira continued to lose ground against the US dollar, Reuters reported, citing two sources.

Turkey’s energy regulator Energy Market Regulatory Authority (EPDK) also said it would raise electricity prices by 14 percent for industrial use and 9 percent for households from Saturday. It had increased prices by the same amount last month.

Last year, almost a third of Turkey’s total 293 billion megawatt power production was generated from natural gas power plants.

The Lira has fallen 42 percent against the dollar this year, due to worsening economic condition and a growing rift with the United States.