Turkish energy regulator to hike electricity prices by 14 percent

Turkey's energy regulator will raise electricity prices by 14 percent for industrial use and 9 percent for residential use from Sept. 1, according to figures published in the government's Official Gazette overnight.

The rate hikes, which will further feed double-digit inflation, highlight another impact of Turkey's ongoing currency crisis. The lira currency has fallen some 42 percent this year, hitting energy producers hard as Turkey is almost wholly reliant on imports for its energy needs.

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