Bloomberg News

Turkey Electricity Producers Fall on Report Gas Prices May Rise

April 03, 2012

Turkish electricity companies including Aksa Enerji Uretim AS (AKSEN) and Akenerji Elektrik Uretim AS (AKENR) fell after Haberturk reported Turkey may increase natural gas prices by an additional 15 percent, raising production costs.

Aksa plunged 3.3 percent to 3.79 liras and Akenerji dropped 0.9 percent to 2.12 liras at 3:15 p.m. in Istanbul. The index of five Turkish electricity producers fell 1.1 percent, compared with a 0.8 percent gain in the overall Istanbul Stock Exchange National 100 Index. (XU100)

Turkey raised gas prices by 18.7 percent on April 1 and may increase them another 15 percent to stem losses at state-run pipeline company Boru Hatlari Ile Petrol Tasima AS, Haberturk reported, citing unidentified Energy Ministry officials.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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