Turkey cuts natural gas, power prices for industry from Jan. 1

ISTANBUL: Turkey will cut natural gas prices for industrial consumers by as much as 25% and reduce their electricity prices by 16% from Jan. 1, President Tayyip Erdogan said on Saturday.

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

Natural gas prices for electricity production were cut by 12.73%, Erdogan said, adding that electricity prices would fall by 16% 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%, also effective Jan. 1.