Tutuapp

Download Tinder 8.1.1. Find interesting people around you. Tinder is a dating app designed to help you find attractive people nearby to share common interests.Tinder Plus

Business

Turkey to develop energy market model safe from currency volatility

Turkey to develop energy market model safe from currency volatility

Turkey to develop energy market model safe from currency volatility

In an emerging market the volatility of currency affects the Turkish lira. It is also a major problem for the Turkish energy sector because it immensely affects the prices in a market heavily dependent on imports.

"In order to minimize the repercussions of currency fluctuations and thwart them, Turkey is taking steps to develop an energy market model that will not be affected by currency moves, particularly in electricity production from coal," Energy and Natural Resources Minister Berat Albayrak said yesterday at a meeting on energy in Antalya. Albayrak participated in the 8th Energy Summit, which brought together the major local players in the sector.

Elaborating on Turkey's energy investments and agenda, Albayrak layd out the country's energy portfolio including hydrocarbon resources, renewables like wind and solar, coal, and nuclear. He also announced that new incentives for local coal sector will be implemented as of the beginning of 2018.

"We are taking steps to transform the energy market as a model purified from currency volatility, in the most possible way," he said.

Rate of domestic sources for electricity production to increaseAlbayrak said infrastructure work is ongoing in order for domestic and renewable energy sources to generate two-thirds of the country's electricity production.

He said that reducing external dependence in energy is of critical importance for Turkey to become one of the top-ranking players in the sector and that electricity generation from domestic sources was 49 percent last year.

He said that a growth of 6 percent to 7 percent was achieved in electricity consumption, adding that they need a balanced portfolio in this regard. He said that they will support this process as the public in order to commission a total of 15,000 megawatts in solar, wind and domestic coal.

"Turkey has a significant potential in these areas," Albayrak said, adding that they will commission a triple win-win system at the point of current account deficit, employment and production of these resources in Turkey, as well as the production costs of electricity.

Source: Daily Sabah

Share

Business
@https://www.twitter.com/GoodMorningTR

GoodMorningTurkey.com is your online news source about Turkey which has become one of the most closely followed and frequently discussed countries in the world. Turkey is increasingly becoming involved in world affairs, with its positive economic developments and intercultural interactions. Being strategically located between Asia, Europe and Middle East, geographically Turkey is playing an important role in the world affairs. Turkey has become world focus, and a role model country for many surrounding neighbors as a result of the recent developments and changes in the region.

More in Business

France sues e-commerce giant Amazon for abusing marketplace rules

Good Morning TurkeyDecember 18, 2017

Turkey’s first drillship to begin Mediterranean exploratory drilling in early 2018

Good Morning TurkeyDecember 18, 2017

Jean-Claude Van Damme reported to open sports center chain in Turkey

Good Morning TurkeyDecember 17, 2017

Turkish businesses now accepting payments in bitcoin

Good Morning TurkeyDecember 17, 2017

Defense firm to export hundreds of armored vehicles, defense industry products to Qatar

Good Morning TurkeyDecember 17, 2017

Turkish gov’t to provide TL 70B investment incentive for investors

Good Morning TurkeyDecember 17, 2017

Turkey tastiest destination for tourists with a hearty appetite

Good Morning TurkeyDecember 17, 2017

Turkey’s growth and the psychology of economists

Good Morning TurkeyDecember 15, 2017

National tank to begin mass production in 2019

Good Morning TurkeyDecember 15, 2017

GoodMorningTurkey.com is your online news source about Turkey which has become one of the most closely followed and frequently discussed countries in the world. Turkey is increasingly becoming involved in world affairs, with its positive economic developments and intercultural interactions. Being strategically located between Asia, Europe and Middle East, geographically Turkey is playing an important role in the world affairs. Turkey has become world focus, and a role model country for many surrounding neighbors as a result of the recent developments and changes in the region.

Pages

  • About Us
  • Advertise Us
  • Contact Us
  • Register
  • Copyright ©2013 - 2015 Good Morning Turkey. Powered by Design Media Land,LLC.