Turkey Has Cheapest Gas and Electricity Than EU-28

 Turkey's current natural gas and electricity prices are cheapest compared to those of the 28 EU countries and are at the same levels as in 2008, Turkey's Energy and Natural Resources Minister said Tuesday, according to Turkey's Anadolu Agency. Speaking at the Energy Markets Summit in Ankara, organized by the Turkish Energy Market Regulatory Authority, EMRA, Taner Yildiz said Turkey consumes cheaper natural gas and electricity than the 28 EU countries.

Yildiz explained that as a ministry they have given priority to renewable resources to decrease natural gas imports. The country aims to add 110 thousands megawatts to its power capacity by 2023 and targets to meet 30 percent of its power from renewable resources. He said that Turkey paid $850 million less from its annual energy imports in 2014 because of the increase in power generated by renewable energy.

"Two months ago, for the first time, Turkey could meet 10 percent of its daily energy output from wind power for one day," Yildiz added. In order to have a viable energy sector, Yildiz said that political stability is needed which the government is committed to provide.