Turkey to create energy market management company

Oil&Gas Materials 19 December 2012 13:19 (UTC +04:00)

Azerbaijan, Baku, Dec.19 / Trend, A.Taghiyeva /

Turkey plans to create a state company to manage its energy market (EPİAŞ), the Hurriyet newspaper reported.

Establishment of the company is envisaged within formation of the first energy exchange in Turkey.

With regard to the energy exchange project, this has already been sent to the Turkish parliament for approval. The exchange can be created six months after parliament approves the project.

Creation of an energy exchange will stabilise the price of electricity in the country and contribute to regulation of prices on its imports and exports, chairman of the Turkish State Company for electricity trade (TETAS) Haci Duran Gokkaya said earlier.

He also noted that only Turkish companies, producers and consumers of electricity will be represented at the exchange in the first stage. Then the participation of countries that are part of European Network of Transmission System Operators for Electricity (ENTSO-E) is possible.

ENTSO-E - is an organisation established in July 2009 and uniting the electrical network of associations of ATSOI, BALTSO, ETSO, NORDEL, UCTE and UKTSOA, which aims to ensure reliable operation, optimal control and the development of the European electricity transmission system in order to ensure energy security and meet the needs of the internal energy market.

An agreement on the establishment of energy exchange in Turkey was signed between the state owned Turkish Electricity Transmission (TEİAŞ) and the European Energy Exchange on July 6.