Regulation of the Turkish Wholesale Electricity Market: A General Overview

Abstract

It is undeniable that electricity is an indispensable element of modern life. In order to provide high-quality electricity services more reliably and at an affordable price, Turkey began to liberalise its electricity market decades ago in parallelwith developments in European Union (EU) energy markets. This paper aims to overview the regulation of the wholesale electricity market in Turkey that emerged during the long reform processes, particularly in the last two decades, and to provide some suggestions, especially for capacity remuneration mechanism implemented in Turkey. In terms of structure, after briefly describing the necessity for regulation in liberalised electricity markets, the chapter dealswith reforms in theTurkish electricity market. Finally, the chapter examines the existing structure of the Turkish electricity market in general. © Springer Nature Switzerland AG 2021. All rights reserved.