Published On: Sat, Aug 12th, 2017

Energy markets in Turkey will become transparent and bureaucracy will decrease

The “Regulatory Approach Document” prepared by EMRA (Energy Market Regulatory Authority) will be used as a reference in the regulations of energy market in the coming period. Within the scope of the document, it is aimed to increase the accountability and transparency in the energy market in the forthcoming period

“Regulatory Approach Document” was prepared by EMRA to serve as a reference document in regulations for oil, gas, electricity and LPG markets in the coming period.

Based on information provided by EMRA officials, the Authority which has been in charge of regulating energy markets for 16 years, will focus on improving the rights of consumers and meeting their needs at a higher level by making the markets more transparent in the coming period.

In this context, EMRA’s approach to regulating the energy sector was redefined via “Regulatory Approach Document” prepared with the contributions of sector representatives and main topics of the new period were identified.

Within the scope of the document, it is aimed to further increase accountability and transparency in energy markets in the coming period. Compliance with national policy objectives will be taken into account and international co-operation will be enhanced.

In-depth sectoral strategies will be identified and communication channels will be created to serve the common understanding of market participants.

Legal arrangements for the energy sector, which is seen as the locomotive of the Turkish economy, will be simplified and the bureaucratic intensity will be reduced. Lean, efficient and predictable regulatory processes will be established.

In order to make the processes more practical, an institutional structure that is independent, transparent, accountable, powerful and holds the front of communication will be set up.

The risks arising from market participants will be minimized and the trends in the international markets will be monitored closely so that the information can be reflected in the regulations.

Regulations that will open the way for technology and innovation in market activities will be put into practice. The development of the markets and the modernization of quality standards for consumers will be encouraged.

Within the framework of the Regulatory Approach Document, consumers will be able to actively participate in regulatory processes and market mechanisms. Consumer satisfaction will be improved by developing additional products and services for consumers.

In addition, healthy price formation will be supported at the markets. Pricing mechanisms will be adjusted to reflect market conditions and investor expectations will be increased.

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