Energy economics

Türkiye remains committed to a diversified energy portfolio, investing in both traditional and renewable energy sources, Energy Minister Alparslan Bayraktar has said.

Mytilineos announced on Wednesday that its energy arm, Protergia, will introduce energy provenance tracking and tracing features in Greece, in partnership with Powerledger.

With the Powerledger platform, Mytilineos and Protergia's consumers can now track, trace and visualize where their energy comes from in near-real time, and track their carbon footprint granularly.

The Climate Change Mitigation Strategy and Action Plan (IDASEP), which was prepared to reach Türkiye's 2053 net zero emission target, lists the steps to be taken until 2030 one by one.

Following the elimination of the 8.3-cent subsidy per liter on April 1, increases in the average price of 95-octane gasoline have been observed in the districts of Limassol, Nicosia and Famagusta, with the exception of Paphos, where the price only rose by 8 cents.

Natural gas prices have seen a steady decline in recent months, largely attributed to an oversupply of the blue fuel following a milder-than-anticipated winter season worldwide.

Residents of Sofia may soon enjoy a significant decrease in their heating and hot water bills, as "Toplofikatsia Sofia" has announced its intention to lower prices by 30% from July 1, 2024. The company has submitted an application to adjust the price of thermal energy for the upcoming regulatory period, citing various factors contributing to the proposed reduction.

Natural gas prices are gradually returning to their historical norms, reflecting the basics of supply and demand, Public Gas Corporation (DEPA Commerce) CEO Konstantinos Xifaras told the 5th Power & Gas Forum on Thursday.

As of April 1, the reduced consumption tax on fuel in Cyprus will come to an end, reverting to 8.3 cents per liter for gasoline and 6.3 cents per liter for heating oil.

Consumers may have noticed a slight uptick in fuel prices over the past month, with gasoline and diesel seeing modest increases in Bulgaria. According to data from the "Fuelo" platform, gasoline prices rose by 3 cents per liter (1.14 percent), while diesel saw a slightly larger increase of 6 cents per liter (2.21 percent).

Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous years thanks to continued expansion of clean technologies, the International Energy Agency said Friday.