Turkish Regulator Gets 114 Applications for Energy Bourse Shares

Turkey’s Energy Market Regulatory Authority (EMRA) has received applications from 114 companies for class C shares of the operator of the country's planned energy bourse, the regulator said on Wednesday.

As many as 100 electricity companies and 14 natural gas sector players have submitted applications to acquire shares worth a total of 63.89 million Turkish lira ($29.59 million/22.51 million euro) in Enerji Piyasalari Isletme Anonim Sirketi (EPIAS), the company that will operate the energy bourse, EMRA said in a statement.

EMRA said the submitted applications surpass by more than two and a half times the 24.6 million lira worth of class C shares to be distributed to privately-owned energy companies.

A privately-owned energy company can acquire no less than 50,000 shares and no more than 2.46 million shares in the energy bourse operator.

In July, EMRA invited interested energy companies to apply for the purchase of class C shares in EPIAS by August 29. Companies eligible to submit proposals had to hold electricity supply licenses, or have operating power plants under power generation licences, or hold licencses for wholesale, retail, import, and export of natural gas.

EPIAS has a capital of 61.57 million lira. Its shares with a nominal value of 1.0 lira each are divided into three groups. The state-owned Turkish Electricity Transmission Company (TEIAS) holds the class A shares which constitute 30% of EPIAS’s capital. Borsa Istanbul owns 30% of EPIAS through class B shares, and the remaining 40% stake, in class C shares, is allocated to the private sector.

Source: SeeNews