July 2025 – On 9 July 2025, Turkish Law No. 7552 on Climate Change was published in the Official Gazette and entered into force, amending Law No. 6446 on the Electricity Market (“Law”). With this amendment, a new paragraph was added to Article 16 of the Law, which regulates penalties and the procedures for their application. The main points of the amendment are summarised below:
The amendment aims to prevent “market-disruptive behaviour” in all markets operated and financially settled by Energy Exchange Istanbul (“EPIAS”), including the Emission Trading System.
The newly added paragraph grants Türkiye’s Energy Market Regulatory Authority (“EMRA”) the authority to identify disruptive behaviour in markets operated by EPIAS and impose administrative sanctions. The legislation states that administrative fines may be imposed on individuals up to TRY 2 million and on legal entities up to TRY 20 million. Additionally, if the violation results in a gain or causes a loss, the penalty must be at least twice the amount.
Furthermore, EMRA is authorised to temporarily or partially suspend the operating licence of the relevant individual or company. The type of market-disruptive behaviour and sanctions is specified in secondary regulations to be issued by EMRA.
If you have any questions regarding the amendment, please do not hesitate to contact us.