Turkey Plans Tiered Gas Pricing to Cut Trade Gap, Sabah Reports

Turkey is planning to introduce a tiered natural gas pricing system to help reduce imports and help plug its current-account deficit, Sabah reported, citing Energy Minister Taner Yildiz.

The measure will target low-income families and provide incentives for energy savings to cut Turkey’s $15 billion annual gas bill, the Istanbul-based newspaper reported, citing Yildiz. Turkey may reduce energy consumption by as much as 30 percent, according to Sabah.

The current account deficit is equivalent to about 10 percent of Turkey’s $772 billion economy.

To contact the reporter on this story: Emre Peker in Ankara at epeker2@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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